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RBI exempts banks from opening on Apr 1 on annual closing

RBI exempts banks from opening on Apr 1 on annual closing

Reversing its earlier order, the Reserve Bank on Wednesday said the bank branches dealing in government businesses need not remain open on April 1 in view of the annual closing business.

Sensex gains 114 points for the week on exit-poll position

Sensex gains 114 points for the week on exit-poll position

The Benchmark Sensex ended the week green, gaining 113.78 points to finish at 28,946.23, while the broader Nifty closed above the key 8,900-level, trending on BJP-gains in exit poll positions.

Ready to negotiate one-time settlement with banks: Vijay Mallya

Ready to negotiate one-time settlement with banks: Vijay Mallya

Embattled liquor baron Vijay Mallya on Friday said that he was ready to negotiate with banks for one-time settlement and urged the Supreme Court to intervene.

SBI justifies penalty on non-maintenance of minimum balance in savings a/c; says need money to bear Jan Dhan costs

SBI justifies penalty on non-maintenance of minimum balance in savings a/c; says need money to bear Jan Dhan costs

Facing a backlash for levying penalty on non-maintenance of minimum balance in accounts, SBI on Wednesday justified its move saying the bank needs to impose some charges to balance the "burden" of managing a large number of no-frills Jan Dhan accounts.

Govt asks banks to review charges on cash transactions

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Finance Ministry gives in-principle nod to ESOPs by PSU banks

Finance Ministry gives in-principle nod to ESOPs by PSU banks

Finance Ministry has agreed in-principle to allow public sector banks to offer stock options to their employees from next fiscal -- a move aimed at retaining experienced hands with better incentives.

New agency to probe anomalies in IT returns filed post demonetisation

There is a move to set up a new agency for probing anomalies in income tax returns filed by 18 lakh people after demonetisation, Union Minister Radha Mohan Singh said on Wednesday.

SEBI likely to allow mutual funds to trade in commodities soon

SEBI likely to allow mutual funds to trade in commodities soon

With an aim to deepen the nascent commodity market, SEBI is likely to give mutual funds the go-ahead to trade in commodity markets in a month, while the regulator is also in talks with the RBI to allow institutional investors like banks and FPIs to trade in the segment.

Debit card transactions: RBI to reimburse banks MDR charges effective January 1

Debit card transactions: RBI to reimburse banks MDR charges effective January 1

The Reserve Bank will start reimbursing MDR charges to banks for payments made since January 1 through debit cards by citizens, in line with the government's move to further digital solutions.

Banks need Rs 91,000 crore capital to sustain 8-9% growth: Ind-Ra

Banks need Rs 91,000 crore capital to sustain 8-9% growth: Ind-Ra

Indian banks will require Rs 91,000 crore in tier-1 capital till March 2019 to sustain a minimum annual growth rate of 8-9 percent, according to a report by India Ratings and Research (Ind-Ra).

There is scope for further cuts in lending rates: RBI Guv

There is scope for further cuts in lending rates: RBI Guv

RBI Governor Urjit Patel on Wednesday said there is further scope for banks to reduce lending rates as the Reserve Bank has already brought down its policy rates by 175 basis points since January 2015.

Demonetisation woes due to bank officers' role: Arvind Panagariya

Demonetisation woes due to bank officers' role: Arvind Panagariya

In implementing demonetisation what did not go as planned was that "a lot of bank officials really played it in the way that they should not have played it" and it was on a scale not anticipated, according to Arvind Panagariya, Vice Chairman of Niti Aayog.

No limits on cash withdrawals through ATMs, current a/cs from today

No limits on cash withdrawals through ATMs, current a/cs from today

In a big relief to people and small businesses, RBI has announced lifting of restrictions on daily withdrawal of money from ATMs and from current accounts from Wednesday but the weekly limit of Rs 24,000 on savings bank accounts will continue.

No limits on cash withdrawals through ATMs, current a/cs from tomorrow

No limits on cash withdrawals through ATMs, current a/cs from tomorrow

In a big relief to people and small businesses, RBI has announced lifting of restrictions on daily withdrawal of money from ATMs and from current accounts but the weekly limit of Rs 24,000 on savings bank accounts will continue.

Bank deposits up 0.64% in January 6 fortnight

Bank deposits up 0.64% in January 6 fortnight

According to the data released by the Reserve Bank of India, deposits in banks jumped by 0.64 percent in the fortnight to January 6 after falling in the previous 14 days.

Cash deposits above Rs 10 lakh in bank account to come under I-T lens

Cash deposits above Rs 10 lakh in bank account to come under I-T lens

The tax department has asked banks to report deposits in any account aggregating Rs 10 lakh in a year, as well as cash payments of Rs 1 lakh or more on credit card bills.

 

 

Finance Ministry likely to finalise capital infusion plan for PSBs; to exceed Rs 25,000 crore

Finance Ministry likely to finalise capital infusion plan for PSBs; to exceed Rs 25,000 crore

Based on the request of various lenders which have been impacted by demonetisation amid rising bad loans, the Finance Ministry is likely to finalise capital infusion plan for public sector banks (PSBs) this week.

After pilot services, Airtel to officially launch its Payments Bank Thursday

After pilot services, Airtel to officially launch its Payments Bank Thursday

For the same, Airtel has sent out a media invite which reads “For the launch of Airtel Payments Bank – India's first payments bank by Arun Jaitley”.

UCO Bank cuts lending rate by up to 0.8%

Public sector lender UCO Bank on Tuesday slashed its benchmark lending rate by up to 0.8 percent in line with market competition.

NPA pains to spill over into next fiscal, says Moody's

NPA pains to spill over into next fiscal, says Moody's

Weak asset quality will continue to plague credit profile of banks, with their profitability remaining under pressure till the next fiscal, says a report.