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Kotak Mahindra launches social savings bank account

Kotak Mahindra Bank Tuesday launched Jifi Saver, a social savings bank account which can be seamlessly managed via Twitter and Facebook,in this region.

Inform customers about fall in minimum balance: RBI to banks

The Reserve Bank on Thursday asked banks to inform their customers about fall in minimum balance well in advance and said that penal charges should be levied only to the extent of shortfall in such balances.

RBI allows banks to pay interest at shorter intervals

Savings bank account and term deposit holders can now earn interest at shorter intervals, with the Reserve Bank Tuesday allowing banks to revise the periodicity of interest payments.