Tag: Banks

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 […]

New Delhi: State-run banks had total outstanding corporate loans of over Rs.2.3 lakh crore by end of 2014-15,parliament was informed yesterday. “A sum of Rs.23,52,246.86 crore is outstanding corporate loan of the public sector banks (PSBs) as on March 31, 2015,” minister of State for Finance Jayant Sinha told the Rajya Sabha in a written […]

Mumbai: The Reserve Bank of India (RBI) yesterday allowed banks to recast a company’s debt under a “strategic debt restructuring” (SDR) scheme wherein the lender must hold 51 percent or more of the equity after the debt-for-share conversion. “Post the conversion, all lenders under the JLF (joint lenders’ forum) must collectively hold 51 percent or […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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: 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 […]

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 […]

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 […]

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 […]