The Reserve Bank is believed to have received deposits close to Rs 15 lakh crore, of estimated Rs 15.4 lakh crore worth junked Rs 500/1,000 currency notes that were in circulation, from the 50-day demonetisation exercise that ended on December 30.
Out of 32, three to four case are against Reserve Bank of India (RBI) officials, five against Post Office employees and the remaining cases are against those employed with different banks, said a CBI official.
Home and other loans are all set to be cheaper as major banks such HDFC Bank and Canara Bank joined the rate cut bandwagon by cutting lending rates up to 0.9 percent.
Joining the rate cut bandwagon, HDFC Bank, Wednesday lowered its lending rates by up to 0.9 percent -- which will lead to cheaper home and corporate loans.
In what could be a blow for digital payments system, some banks in the country have started levying Merchant Discount Rates (MDR) charges on use of debit cards for payments.
Housing, auto and corporate loans are all set to become cheaper with several PSU and private banks steeply reducing benchmark lending rate by up to 1.48 percent after spurt in deposits following demonetisation.
Oil companies have offered discount of Rs 5 per LPG cylinder on booking and paying online.
In what could come as a good news for taxpayers in the new year, the Income Tax department has asked its officials to resolve their grievances within 30 days time.
The bench also sought a response on the question as to whether the recovery tribunals are equipped to decide the loan recovery cases within a fixed time frame, stipulated under the law.
NRAI issued a statement stating that customers were free not to eat at a restaurant if they did not wish to pay the service charge levied by it.
ICICI Bank on Monday reduced benchmark lending rate by 0.7 percent across various maturities.
Customers dissatisfied with service at any hotel or restaurant can opt to seek that service charge not be levied, as this is optional or discretionary as per the Consumer Protection Act, an official statement said on Monday.
After a New Year gift of 0.9 percentage point cut in lending rates, State Bank of India (SBI) Chairperson Arundhati Bhattacharya on Monday said she saw normalcy return to the banking system by end-February or March, with uptake in credit growth.
Though the deadline to deposit demonetised notes in bank branches ended on December 30, NRIs and Indian nationals abroad are still allowed by the Reserve Bank of India to deposit up to Rs 25,000 of the banned notes within the grace period.
Investors in small saving schemes like PPF and Kisan Vikas Patra are in for some relief as government has hit the pause button on rate revision for January to March quarter.
Improvement in funds flow after demonetisation, major public sector banks in the country have set off a regime of low interest rates on consumer loans like home and auto loans.
The Reserve Bank of India has introduced a facility of exchange of specified bank notes (SBNs) to give an opportunity to Indian citizens and non resident Indian (NRI) citizens who were abroad during November 9, 2016 to December 30, 2016.
After SBI, Punjab National Bank (PNB) has slashed its overnight Marginal cost of funds based lending rate (MCLR) by 70 bps to 8.20 per cent.
The Reserve Bank of India (RBI) has come out with conditions for exchange of defunct notes for those, including non-resident Indians, who failed to do so till Friday, the last day for depositing the invalid currency notes in banks.
State Bank of India, the country`s biggest lender by assets, said on Sunday it had cut its lending rates by 90 basis points for maturities ranging from overnight to three-year tenures, after experiencing a surge in deposits.