Articles tagged under: Banking

PM Modi to join brain-storming session with stakeholders of Banks & NBFCs

July 28, 2020
PM Modi to join brain-storming session with stakeholders of Banks & NBFCs

New Delhi: PM Modi will join stakeholders from Banks and NBFCs to discuss and deliberate on vision and roadmap for the future tomorrow evening. The topics on agenda include credit products & efficient models for delivery, financial empowerment through technology, prudential practices for stability and sustainability of financial sector. Banking sector plays an important role of in contributing to India’s economic growth through financing infrastructure, agriculture, local manufacturing i...Read More

Bank Employees Association of India declares list of Wilful Defaulters

July 18, 2020
Bank Employees Association of India declares list of Wilful Defaulters

Gandhinagar: All India Bank Employees Association has declared a list of Willful Defaulters on 19th July 2020, the 51st Anniversary of Bank Nationalisation (19th July 1969). The Association in its statement said: The only major problem faced by nationalized banks is the bulging and alarmingly increasing bad loans by the private companies and corporates. If tough action is taken on them and money is recovered, our Banks can play a bigger role in national development. WILFUL DEFAULTERS 30 9 19 B...Read More

HSBC to set up IFSC Banking Unit at GIFT City Gujarat

July 13, 2020
HSBC to set up IFSC Banking Unit at GIFT City Gujarat

Gandhinagar: The Hongkong and Shanghai Banking Corporation Limited (HSBC), one of the world’s largest financial services organizations has got in-principle approval from the GIFT SEZ Authority to set up an IFSC Banking Unit (IBU) at GIFT City, subject to other Regulatory approvals. The proposed commencement of the IBU by HSBC, marks a significant development in India’s IFSC business and proves GIFT’s mettle as a globally competitive international financial centre that is at par with other ...Read More

1540 cooperative banks with nearly Rs 5 lakh crore assets brought under RBI supervision

June 24, 2020
1540 cooperative banks with nearly Rs 5 lakh crore assets brought under RBI supervision

New Delhi: The Union government on Wednesday announced approval to a decision to bring 1,540 cooperative banks that hold close to Rs 5 lakh crore worth of deposits from 8 crore lakh account holders, under the purview of Reserve Bank of India (RBI). These banks will be supervised by the RBI in the same fashion as the scheduled banks, offering protection to depositors and reducing the space for mismanagement. “All urban cooperatives and multistate cooperative banks are being brought under...Read More

Sitharaman asks police for timely action in Surat lady banker attack case

June 24, 2020
Sitharaman asks police for timely action in Surat lady banker attack case

New Delhi:A couple of days after a woman bank employee was attacked in Surat city of Gujarat, Finance Minister Nirmala Sitharaman on Wednesday said that she has spoken to officials concerned in the incident and asked for timely action in the case. 'Will be closely following this matter. Wish to assure that the safety of all members of staff in banks is of importance for us. Amid challenges, banks are extending all services to our people. Nothing should threaten their safety and dignity,' Ms S...Read More

HDFC Bank launches Fixed Deposit for Senior Citizens at higher Interest Rates

May 25, 2020
HDFC Bank launches Fixed Deposit for Senior Citizens at higher Interest Rates

Mumbai:HDFC Bank Ltd announced a special offer of 0.25% higher interest rate on its Senior Citizen Care Fixed Deposits. The offer is applicable with immediate effect on new as well as renewed FDs. The additional interest of 0.25% being offered is over and above the existing premium of 0.50% higher interest rate. HDFC Bank Senior Citizen Care FD will now cumulatively fetch 75 basis points (bps) higher interest rate as compared to the general public. With this offer, Senior Citizens can book...Read More

RBI slashes repo rate by 40 bps; extends term loan moratorium

May 22, 2020
RBI slashes repo rate by 40 bps; extends term loan moratorium

Mumbai: To ease the financial stress in the country, the Reserve Bank of India on Friday cut policy repo rate by 40 basis points to 4.0 The reverse repo rate now stands reduced to 3.35 pc while the MSF rate is down to 4.25 pc while laying out the economic conditions prevailing in India amid the ongoing coronavirus crisis. RBI Governor Shaktikanta Das has also extended the moratorium period by another three months from June 1 to August 31 due to lockdown extension. The RBI Monetary P...Read More

HDFC Bank deploys Mobile ATM in Ahmedabad

April 22, 2020
HDFC Bank deploys Mobile ATM in Ahmedabad

Ahmedabad: HDFC Bank on Monday deployed Mobile Automated Teller Machine to assist customers during the lockdown in Ahmedabad. The Mobile ATM will eliminate the need to move out of the locality to withdraw cash. Before Ahmedabad city, the Bank has deployed such Mobile ATMs across Mumbai, New Delhi, Allahabad, Coimbatore, Chandigarh, Chennai, Pune, Hyderabad & Bhubaneswar. The locations for deployment are being identified in consultation with all local municipal authorities across Ahmedabad. ...Read More

SBI waives off Average Monthly Balance on all Savings Bank Accounts

March 11, 2020
SBI waives off Average Monthly Balance on all Savings Bank Accounts

Mumbai: Country’s largest lender, State Bank of India has decided to waive maintenance of Average Monthly Balance (AMB) for all Savings Bank Accounts in attempt to further boost the efforts to promote Financial Inclusion in the country. The charges on maintaining AMB are now waived off on all 44.51 crore SBI savings bank accounts. Currently SBI Savings Bank customers’ needs to maintain AMB of Rs 3000, Rs 2000 and Rs 1000 in Metro, Semi Urban and Rural areas respectively. Bank used to levy ...Read More

Anand Police solves Bandhan Bank robbery case, arrest three accused

March 08, 2020
Anand Police solves Bandhan Bank robbery case, arrest three accused

Anand: Anand Police has arrested three accused involved in Bandhan Bank loot case. On Sunday, February 23, three unidentified persons had entered the bank branch on 100 ft road of Anand town and using knives and gun looted Rs. 88.97 lakh cash from safe locker. Police had formed teams to nab the accused and also took help of ATS and Crime Branch. During the investigation, it was noticed that a white car with white strip attached over number plate on rear side was used by robbers to commit th...Read More

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