Last year, the government raised insurance cover on deposit five-folds to Rs 5 lakh to provide support to depositors of ailing lenders like Punjab and Maharashtra Co-operative (PMC) Bank.
With normal banking services in Yes Bank to resume at 6 p.m. on Wednesday, the private sector bank’s administrator and new investors assured all deposit holders that their savings in the bank were absolutely safe and customers would have much better experience when they resume usual interaction with the lender. “There is no need to […]
New Delhi: While Coronavirus pandemic continues to sweep the world shutting down economies, the Reserve Bank of India on Friday announced a slew of measures to help the country fight the economic blues resulting from the impact of the lockdown. The RBI also cut reverse repo rate by 25 basis points to 3.75%, while keeping […]
Bhubaneswar/New Delhi: The Centre on Friday expressed before the Supreme Court that it is ready to waive “interest on interest” on loans up to Rs 2 crore during the six-month moratorium period in the wake of Covid crisis. “This category of borrowers, in whose case the compound interest will be waived, would be MSME loans […]