Tag: Banks

Modi added that 98 per cent of the total depositors are currently covered under the depositors insurance scheme and the Centre is committed to safeguard their money.

New Delhi: To check use of forged copies during bank transactions, the Government has made it mandatory for banks and financial institutions to check original identification documents of individuals dealing in cash above Rs 50,000. The Revenue Department in the Finance Ministry has issued a gazette notification making an amendment to the Prevention of Money-laundering […]

Bhubaneswar: Those with any bank related work will need to plan for it much ahead as the financial institutions will remain closed for four days at a stretch starting August 12. Banks will be shut for second Saturday of the month on August 12 followed by Sunday, Krishna Janmashtami on August 14 and Independence Day […]

Bhadrak: As normalcy is returning to the trouble-torn town gradually, the district administration has decided to extend duration of curfew relaxation by two more hours from 2 pm to 4 pm. The decision came after a review of the situation in the town, Collector Gyan Ranjan Das said. Earlier, curfew was relaxed for seven hours, […]

Bhadrak: With normalcy limping back gradually to the strife-torn town, all educational institutions, banks and government offices opened today and curfew was relaxed for seven hours as no major incident of violence has been reported for last two days. Educational institutions have remained open from 8 am to 10am. The curfew was relaxed from 7 […]

Bhubaneswar: BJD’s MP from Kendrapara, Baijayant Panda today came out in the support of the demonetisation move. However, he showed  his concern saying that one has to also be sensitive to the difficulties being faced by the people on account of the ban on old Rs 500 and Rs 1000 notes. Also Read: Baijayant reviews […]

Bhubaneswar: Taking note that the people in rural areas are facing difficulties in getting new notes in exchange of the old notes, the Odisha government has decided to provide banking services in panchayat offices very soon. A decision to this effect was taken at a high level meeting presided over by chief secretary Aditya Prasad […]

Bhubaneswar: Taking note of the panic by the people due to the sudden announcement by the Centre on demonetisation of Rs 500 and Rs 1000 currency notes last night, the Odisha government has decided to step up early measures to bring the situation under control. Talking to media persons today, Director General of Police (DGP) […]

Chennai: Public sector lender Indian Bank on Friday announced about a 50 per cent fall in its standalone net profit for the third quarter ended on December 31 in the back drop of an increased provision for bad loans, said a top bank official. For the period under review, Indian Bank posted a net profit […]

New Delhi: In the midst of a government-Reserve Bank of India (RBI) tussle over utilisation of capital reserves of the central bank, former Chief Economic Advisor Arvind Subramanian strongly supports the government’s view, saying the RBI is holding excess capital between Rs 4.5 and Rs 7 lakh crore which should be used to recapitalise the […]

Hyderabad: The Central government uses banks as a weapon to penetrate into jurisdiction of states, said former Reserve Bank of India (RBI) Governor Y.V. Reddy on Saturday. He said by controlling the banking system, the government of India is having access to extra budgetary resources or unaccountable resources to penetrate into the policies which it […]

New Delhi: RBI Governor Urjit Patel, who was on Tuesday grilled by parliamentarians over challenges being faced by the banking sector including the huge number and size of bad loans and frauds like the one in Punjab National Bank, sought more powers for the central bank to oversee Public Sector Banks (PSBs). Patel, summoned by […]

Chennai: Banks will not remain closed for five consecutive days starting from Thursday, a union leader said on Monday. “The banks will work on March 31 (Saturday) and there is no continuous holidays as per messages in the social media,” D. Thomas Franco Rajendra Dev, General Secretary of the All India Bank Officers Confederation told […]

London: Digital security firm Gemalto on Wednesday launched a new payment hardware security module (HSM) for banks, which is being touted as the industry’s first to include partitioning as an advanced security feature. Traditionally, banks and other payment providers used an individual HSM to secure each payment operation or transaction application. The new feature titled “SafeNet […]

New Delhi: Banks will need to make registrations in each state separately under the GST law so that they are ready for the new indirect tax regime roll-out from July 1, Revenue Secretary Hasmukh Adhia said on Monday. “Banks will have to register separately in each state under GST. They do not have any option. […]