Tag: Banks

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. […]

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 […]

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 […]

Bhubaneswar: Small traders and common people were facing severe hardship after demonetisation of Rs 500 and Rs 1,000 notes even though ATMs opened on Friday after a two-day closure. Long queues were witnessed at banks and ATMs as people rushed to get new bank notes. However, they faced difficulties in withdrawing money at hundreds of […]

Bhubaneswar: The Odisha government on Friday asked banks to open new branches in every Panchayat and complete Aadhar seeding to allow direct transfer of government benefits to people. “Even today about 80 per cent of our Gram Panchayats do not have a bank branch,” Finance Minister Pradeep Amat said at the 144th meeting of the […]

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.

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 […]

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: 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 […]