The Reserve Bank of India (RBI) has initiated 'prompt corrective action' on IDBI BankBSE 0.45 % which will restrict bank from hiring, opening branches and giving big ticket loans. The 'prompt corrective action' is triggered when a bank's bad loan is above 6%, it reports losses for two consecutive years. IDBI Bank's gross NPA had crossed 15% in
quarter ending December 2016.

State Bank of India (SBI) cut rates on home loans of up to Rs30 lakh by 25 basis points for new borrowers. The rate was reduced to 8.35% from 8.60%-the second time in 2017
that India's largest lender has slashed home loan rates after an effective 50 basis point to capitalize on demand generated by government efforts to spur affordable housing.

National Institution for Transforming India (NITI) Aayog CEO Amitabh Kant confirmed that the Reserve Bank of India (RBI) and other commercial banks spend Rs 21,000 crore
every year on currency management operations. The objective of the NITI Aayog is to increase the adoption and use of digital payments in India.

The central bank will put into circulation new Rs 5 coins to celebrate the 150th anniversary of Allahabad High Court. On the design of new Rs 5 coin, the coin's face will bear an image depicting center facade of Allahabad High Court Building emerging from the book.

RBI proposes fresh regulations under Foreign Exchange Management Act-1999 for Cross Border Mergers. The regulation makes reporting of any cross-border activity mandatory within 180 days from the date of sanction called the Foreign Exchange Management (Cross-border Mergers) Regulations, the new rules pertain to mergers, demergers, amalgamations
and arrangements between domestic and foreign companies.

Private sector lender Yes Bank today announced alliance with Paisabazaar.com to make the process of availing a loan easy through its advanced analytics and data mining capabilities to offer customers of the financial marketplace with customized and conditionally approved offers across retail lending products.

The Reserve Bank of India (RBI) will soon put into circulation new 10 coins have also been minted to commemorate the 125th year of National Archives of India. On the design
of new Rs 10 coin, on the reverse of the coin, there will be an image of National Archives Building in the center with inscription '125 YEARS' below the image.

No Explanation.