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.
If you have any important bank-related work in the month of July, then here's something important for you. Banks across India are likely to remain closed for up to 15 days in July.
Bhubaneswar: The Reserve Bank Of India (RBI) has decided to extend the Cheque Truncation System (CTS) across banks in the country. Earlier, the RBI had announced pan-India coverage of CTS by bringing all branches of banks in the country under an image-based CTS clearing mechanism. As per the latest notification, the CTS is in use […]
Chennai: Banking operations across the country was affected on Thursday with about 4.5 lakh bank employees joining the nationwide strike called by the central trade unions, said a top official of the All India Bank Employees’ Association (AIBEA). He also said about 20 lakh cheques worth about Rs 18,000 crore could not be sent for […]
New Delhi: Prime Minister Narendra Modi on Wednesday held a meeting with the stakeholders of banks and NBFCs and discussed issues in the financial sector, including credit growth and risk aversion. The meeting largely talked about the vision and roadmap for the future. A statement from the Prime Minister’s Office (PMO) said that the crucial […]
New Delhi: Banks and other secured lenders may face a tough time in terms of reporting of non-performing assets in their books and may take to loan restructuring over the next one year as new cases under the Insolvency and Bankruptcy Code (IBC) will not be admitted, experts said. The Centre has suspended the admission […]
New Delhi: Banks may not extend the second moratorium to all their customers amid gradual resumption in business activity and rising asset quality risk emerging from longer duration loan forbearance. Sources said that banks are evaluating their loan portfolio with regard to customers who availed moratorium of interest repayment during the fist instalment period of […]
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 […]
New Delhi: Banking services were impacted on Wednesday as employees went on a nationwide strike called by 10 central trade unions to protest against the government’s “anti-people” policies. Branch activities including cash withdrawal deposit in public sector banks in many places across the country have been affected due to the strike. Most of the lenders […]
Bengaluru: Union Finance Minister Nirmala Sitharaman on Wednesday lauded self-help group movements led by religious and spiritual leaders and advised banks to give up any hesitation in giving loans to such groups backed by credible leadership. When you have social, religious and spiritual leaders leading the (self-help group) movement, banks find easy to find credible […]
Mumbai: Allaying fears of any threat to the banking system, Reserve Bank governor Shaktikanta Das on Friday asked the public not to panic as the entire banking system, including cooperative ones, continue to remain sound and stable. Das also said in the wake of the crisis at Punjab & Maharashtra Cooperative (PMC) Bank, the RBI […]
Bhubaneswar: Fake currency circulation is still posing a real challenge in Odisha. Post dipping to a historic low in the demonetisation year, the total seizure value of Fake Indian Currency Notes (FICN) has again picked up pace to a record seizure of over Rs 7.3 crore in mere 9-months of 2019. However, the paradigm shift […]
Mumbai: Benchmark indices surrendered early gains to close in the negative zone on Thursday as investors preferred to cash in on recent gains ahead of key macroeconomic data releases. After swinging 386 points intra-day, the 30-share BSE Sensex settled 166.54 points, or 0.45 per cent, lower at 37,104.28. Similarly, the broader NSE Nifty fell 52.90 […]
In a bid to promote digital payments and eliminate plastic cards, the State Bank of India(SBI) may herald the beginning of the end of the ubiquitous debit cards from the banking system. This is despite the huge reliance on debit cards by customers of SBI which services a fifth of the population. “…it is our wish […]
Even though debit-cum-ATM card offers a lot of conveniences, it is prone to risks which a cardholder must be aware of. Banks have been issuing advisories from time to time to debit cardholders to ensure that they do not fall victim to fraud and hacking. Tips issued by banks: It is always advisable to memorise […]
Mumbai: The Reserve Bank has slapped penalties on nine commercial banks, including State bank of India, Punjab National Bank and Bank of Baroda, for a host of violations, including delay on the reporting of fraud in the account of Kingfisher Airlines in case of two lenders. The nine lenders in separate regulatory filings said that […]
Credit cards offered by banks and financial institutions provide a variety of benefits. Many use credit cards to purchase movie tickets or shop apparels or refuelling their vehicles. With these featured credit cards, life has become easy while earning reward points and discounts on purchases. However, the user must be aware of the features, rewards […]
Kolkata: State-run Allahabad Bank on Wednesday announced a net loss of Rs 732.81 crore for the quarter ended December 31, 2018, narrowing the net loss of Rs 1,263.79 crore reported for year ago period. The lender, which is under the prompt corrective action (PCA) of the Reserve Bank of India (RBI), had reported a net […]
Kolkata: State-run Allahabad Bank on Wednesday announced a net loss of Rs 732.81 crore for the quarter ended December 31, 2018, narrowing the net loss of Rs 1,263.79 crore reported for year ago period. The lender, which is under the prompt corrective action (PCA) of the Reserve Bank of India (RBI), had reported a net […]
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 […]
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 […]
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 […]
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 […]
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 […]
Pune: Holding big defaulters responsible for higher NPAs of banks, Finance Minister Arun Jaitley today said that recovery of money from these “big people” has become a “big challenge”. Jaitley was in city to attend the centenary completion celebrations of Pune District Central Co-operative Bank (PDCC). NCP chief Sharad Pawar is associated with this bank […]
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 […]
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. […]
Mumbai: Outlining its plan to deal with the mounting problem of banks’ bad loans, the Reserve Bank of India (RBI) on Monday said it will reconstitute the oversight committee (OC) to operationalise the banking ordinance for resolving the issue of non-performing assets (NPAs). “It has been decided to reconstitute the OC under the aegis of […]
New Delhi/Mumbai: The central government on Friday made major top management changes in several public sector banks (PSBs). The Appointments Committee of the Cabinet approved the proposed postings of new Managing Directors and CEOs at PSBs like Punjab National Bank (PNB), based on the recommendations by the Department of Financial Services. R. Subramaniakumar, an Executive […]
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: Odisha government today asked commercial banks to extend their outreach to the unbanked gram panchayats and enhance credit flow to agriculture and allied sectors. Finance Minister PK Amat said this while addressing the 146th State Level Bankers Committee (SLBC) meeting here. linkages from deposit to credit and from credit to economic activity is very […]
Bhubaneswar: Odisha government today proposed to set up a modern truck terminal at Paradeep. The truck terminal will have the facilities like weigh bridge, fuel stations, cold storages, godowns, workshop, rest reas, police stations, RTO office, health care facilities, check posts, Post offices, banks, administrative block, drinking water, electricity, toilets, shops and lodging facility. “The […]
Bhubaneswar: Charging the Odisha government of creating confusion among the public over demonetisation scheme, Union Oil Minister Dharmendra Pradhan today said more currency notes of Rs 500 will reach market here tomorrow. “I wonder how the state government is creating confusion among the people over the demonetisation issue. There are about 20,000 outlets of SBI […]
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: There was no let-up in the rush for withdrawing money and exchanging demonetised notes in several cities of Odisha, as serpentine queues in front of banks and ATMs were a common sight even on Sunday. Anxious people formed queues at banks to exchange and deposit their demonetised Rs 500 and Rs 1,000 notes and […]
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