Tag: Indian Banks

With bank credit picking up and interest rates for other savings schemes increased by the government, commercial banks will increase the interest rates on deposits, Reserve Bank of India (RBI) Governor Shaktikanta Das said.

He also exhorted financial institutions to continuously encourage good financial and corporate governance practices.

Mumbai: The Punjab National Bank (PNB) has charged that foreign branches of other Indian banks may also be involved in what has turned out to be the biggest fraud in the country’s banking sector involving diamond trader Nirav Modi. “There is clear criminal connivance of the group companies of Nirav Modi and Gitanjali Gems with […]

New Delhi: The G-20 governments have more than doubled the financial support they provide to coal power plants in just three years, despite pledging a decade ago to phase out subsidies to all fossil fuels, an independent study said on Wednesday. India’s public banks invest Rs 79,800 crore per year in the coal sector, said […]

New Delhi: The first phase of ‘Loan Mela’, an outreach programme for providing credit to retail customers and MSMEs, will begin from Thursday across 250 districts across the country to meet demand during the festival period. During the four days beginning October 3, loans will be sanctioned for retail, agriculture, vehicle, home, MSME, education and […]

Mumbai: As much as 14 per cent of Indian banks payments revenue, or $9 billion, is likely to be displaced by the growth of digital payments and competition from non-banks, an Accenture report said on Thursday. “With the digital boom as payments become more instant, invisible and free, banks need to reinvent themselves to grow […]

New Delhi: Finance Minister Nirmala Sitharaman on Saturday instructed public sector banks to clear pending vigilance cases against their officials for alleged malpractices. The minister also said no Merchant Discount Rate (MDR) charges will be applicable on select modes of payment from January 1. The modes of payment will be notified soon, Sitharaman said after […]