Tag: Banking

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Banks To Remain Closed For 12 Days in February 2022

As festive season of the year has started, a number of public holidays are approaching. On these public holidays banks will remain shut affecting the lives of people who depend on bank branches for transaction. Here is a list of days in October on which banks will remain closed.

Mumbai: The S&P BSE Sensex lost nearly 600 points during the mid-afternoon session on Monday, with heavy selling activity in banking, finance and auto stocks. Similarly, the NSE Nifty50 also was down over 180 points. At 2.24 p.m., the NSE Nifty50 traded at 10,956.10 points, lower by 187.00 points or 1.68 per cent from the […]

New Delhi: Indian Finance Secretary Ashok Lavasa met major US-based funds and global institutional investors at a conference held in New York to woo investments into the country’s Banking, Financial Services and Insurance (BFSI) sector, an official statement said on Tuesday. “Finance Secretary Ashok Lavasa interacted with renowned US-based funds and global institutional investors with […]

Mumbai: Positive global cues, along with a strong rupee and healthy buying in banking, capital goods and consumer durables stocks, gave a fillip to the Indian equity markets on Wednesday. The key indices closed with gains close to half a per cent each. The wider 51-scrip Nifty of the National Stock Exchange (NSE) retained its […]

New Delhi: Within a day of RBI hiking the key lending rate, banks have started raising interest rates which will increase EMIs for auto, home and business loans. Some big lenders including SBI, ICICI Bank and HDFC Bank had increased their Marginal Cost of Funds Based Lending Rates (MCLR) in anticipation of RBI raising repo […]

Mumbai: The benchmark BSE Sensex reversed its early gains to trade lower by 43 points in morning session today as capital goods, banking, oil and gas and FMCG stocks fell. The 30-share index fell by 43.68 points or 0.13 per cent to 32,356.83 in morning session. It had opened higher at 32,406.42 and rose by […]

Bhubaneswar: Odisha today became the first state in the country to carry financial inclusion and extend banking services to unbanked areas through Self Help Groups (SHGs). The state government signed an agreement with State Bank of India in this regard. “This is a historic agreement to leverage the reach and resources of Odisha Livelihood Mission (OLM) […]

Mumbai: Markets regulator SEBI yesterday simplified norms for domestic mutual funds to manage offshore pooled assets, dropping its “20-25 rule” which requires a minimum of 20 investors and a cap of 25 percent on investment by an individual, for funds from low-risk foreign investors. In a notification saying the new regulations would be called the […]

New Delhi: The Finance Ministry may ask the Reserve Bank of India (RBI) to put strong regulatory framework around NBFCs accessing non-bank public deposits, like pension and provident fund, as these are savings of the salaried class and must be kept away from avoidable risks like infrastructure NBFCs. Faced with liquidity crunch after IL&FS default […]

Kolkata: Private sector Federal Bank is looking at a 20 per cent growth in business in the current fiscal, an official said on Wednesday. “We are pursuing a 20 per cent year-on-year growth in business, including deposits and credit, in 2019-20,” Federal Bank MD and CEO Shyam Srinivasan said. The lender had posted a net […]

New Delhi: The Reserve Bank of India (RBI) on Wednesday announced the setting-up of a committee to work for the development of housing finance securitisation market in the country under the chairmanship of Harsh Vardhan, Senior Advisor with Bain & Co. An RBI notification said that the committee would review the existing state of mortgage-backed […]

New Delhi: Dell Technologies on Friday unveiled its OptiPlex 7070 Ultra — a flexible, modular and zero-footprint PC which targets the Banking, Financial Services and Insurance (BFSI) and Information Technology Enabled Service (ITES) sectors. The PC has been launched at a starting price of Rs 47,999+ GST (inclusive of keyboard and mouse). The company is, […]

Bhubaneswar: In what could bring relief for bank customers, the proposed all-India bank strike scheduled to be observed from March 11 to March 13 has been postponed indefinitely, informed Convenor of United Forum of Bank Unions (UFBU), Sambit Mishra. The strike was called by the constituents of UFBU, the umbrella body of the trade unions […]