Articles tagged under: Banking

FM announces mega-bank amalgamation: India to have 12 Public Sector Banks

August 30, 2019

New Delhi, Aug 30 (UNI) In a major policy decision, the Government on Friday announced amalgamation of 18 Public Sector Banks into four banks in an effort to impart them with a globally competitive edge. Addressing a press conference here, Union Finance Minister Nirmala Sitharaman said the government is committed to strengtheng banking sector in a bid to achieve five trillion dollar economy by 2022 and announced a slew of measures including amalgamation of Punjab National Bank, Oriental Bank ...Read More

Cash worth over Rs 39 lakhs mysteriously missing from SBI ATM in North Gujarat

July 25, 2019
Cash worth over Rs 39 lakhs mysteriously missing from SBI ATM in North Gujarat

Mahesana: A somewhat strange case regarding fraudulent withdrawal of more than Rs 39 lakh from a bank ATM using its secret code in Unjha town of Mahesana district has been filed, police said today. According to police the local Branch Manager of the State Bank India D Chaudhary has lodged the complaint. It had come to notice of the bank that Rs 39 lakh 53 thousand and one hundred, which should have been remaining as balance in the ATM situated near Unjha Pharmacy, was ...Read More

London based Standard Chartered to start operations at GIFT city shortly, will become first foreign bank at the IFSC

July 18, 2019
London based Standard Chartered to start operations at GIFT city shortly, will become first foreign bank at the IFSC

Gandhinagar: London based leading international bank, Standard Chartered, will shortly become the first foreign bank to launch operations at International Financial Services Centre (IFSC) located in Gujarat International Finance Tec – City (GIFT City). A press release by the first Indian IFSC situated near capital Gandhinagar today said that Standard Chartered has received in- principle regulatory approvals to set up its IFSC Banking Unit (IBU) in GIFT IFSC. The proposed commenc...Read More

Rahul appears in Metro court in connection with ADC bank defamation case, granted bail, next hearing on Sept 7

July 11, 2019
Rahul appears in Metro court in connection with ADC bank defamation case, granted bail, next hearing on Sept 7

Ahmedabad: Congress leader Rahul Gandhi today appeared in a metro court here in connection with a defamation case which granted him bail and fixed September 7 as the next date of hearing. The case regarding his remark, statements and social media posts about the alleged large-scale deposit of scrapped Rs 500 and 1000 notes in Ahmedabad District Cooperative Bank (ADC bank), of which BJP president Amit Shah was a director, during just five days after announcement of demonetization on November 8...Read More

Now withdraw cash just by using OTP at HDFC Bank and ATM

July 02, 2019
Now withdraw cash just by using OTP at HDFC Bank and ATM

Gandhinagar: Now you can send or withdraw cash just using your mobile phone with the launch of cardless cash withdrawal by largest private sector bank of India HDFC Bank. The bank today through email conveyed launch of its new service to customers, according to which, cardless cash withdrawal will be possible 24X7 for instant cash. No charges or transaction fee would be applicable. Beneficiary need not hold an HDFC Bank account. Benefits Ability to withdraw cash without any Debit / C...Read More

GSCB to extend OTS scheme till Aug 2020, set up two training centers near Statue of Unity and Ambaji

June 28, 2019
GSCB to extend OTS scheme till Aug 2020, set up two training centers near Statue of Unity and Ambaji

Ahmedabad:The 60th Annual General Meeting of the Gujarat State Cooperative Bank Ltd was held here today in which a decision to extend the one time settlement (OTS) scheme meant for settlement of bad-loans for all the 18 District Cooperative Banks in the state and 8200 Primary Agricultural Credit Societies, was also taken. The bank which is going to become the first Indian cooperative sector bank to launch prepaid card and digital wallet has also taken a decision to set up two training ...Read More

HDFC Bank to add 25 new branches in Gujarat

June 18, 2019
HDFC Bank to add 25 new branches in Gujarat

Ahmedabad: HDFC Bank Ltd. today announced that it would open 25 more branches in Gujarat, taking its branch network to over 440 in the State. The Bank would open these branches by Dec 2019. This announcement was made by Debashis Senapati, Branch Banking Head - Gujarat, HDFC Bank at a press conference in Ahmedabad. Designated Branch Banking Head – Gujarat, Debashis is responsible for the bank’s large retail franchise in the state. As of March 31, 2019, the bank had a network of 415 bra...Read More

Ahmedabad court asks Rahul Gandhi to appear in person on July 12

May 27, 2019
Ahmedabad court asks Rahul Gandhi to appear in person on July 12

Ahmedabad: Congress president Rahul Gandhi was today directed to appear before Ahmedabad Metro court on July 12. The court had earlier directed Rahul Gandhi to appear in person today in defamation case related to Ahmedabad District Cooperative Bank. However Rahul in his request said that today was his great grandfather Jawaharlal Nehru's 55th anniversary and therefore he would not be able to appear in the court. The court granted his request on condition that he would appear on July 12. ...Read More

Banks decide to continue with bidding process to save cash-strapped Jet Airways

April 18, 2019
Banks decide to continue with bidding process to save cash-strapped Jet Airways

New Delhi: The domestic lenders led by the SBI on Thursday said they would continue with the bidding process to save the cash-strapped airline Jet Airways. On Wednesday evening, all flight operations of the Jet Airways have been suspended “temporarily” in lack of immediate interim funding. The SBI-led consortium said the banks were hopeful that only the bidding process to sale the stakes can save the saddled airline. “The lenders after due deliberations decided that the best way ...Read More

SBI reduces its MCLR and home loan rates w.e.f 10th April 2019

April 09, 2019

Mumbai: Country’s largest lender State Bank of India (SBI) has reduced its MCLR by 5 bps across all tenors with 1 Year MCLR coming down from 8.55% p.a. to 8.50% p.a. As a result, Interest rates on all loans linked to MCLR stand reduced by 5 bps with effect from 10th April 2019. Also SBI makes its housing loans more affordable by reducing the interest rate by 10 bps on loans up to Rs. 30 lacs. Now the applicable interest rate for such Housing loans below Rs.30 lacs will range from 8.60%...Read More