EMI card is a unique installment concept, wherein you have the option of paying a fixed amount every month subject to the purchase limit you enjoy.
As per the reply, an amount of Rs 1207,35,54,334.23 is lying idle with banks spread across India. This unclaimed amount belongs to 1,74,38,100 account holders. According to the reply given by the RBI, quantum of unclaimed deposit is highest in the rural regional banks category. It comes to an amount of Rs 1156,98,70,277.68.
Those who like to draw comfort from the fact that UP is the country's third-largest state in terms of the size of its economy should also note that its growth rate is one of the lowest, its per capita income is almost half of the national average and its poverty rate at 30 per cent places it at the twentieth rank among all the states, says A K Bhattacharya.
The "Tiny Card" with biometric identification is State Bank of India's answer to the challenge of financial inclusion of one lakh villages in the country.
Investment by NRIs in these instruments will be in accordance with the extant policy for investment by NRIs in other debt instruments. \n
Bank deposits grew 17 per cent year-on-year as on December 13 due to higher mobilisation.
The cabinet has already cleared the proposal and the inter-institutional group endorsed it last Friday.
The Reserve Bank of India also banned with immediate effect issuance of letters of comfort which, like LoUs, are used by importers to fund their overseas purchases.
Higher net interest income and lower provisioning have helped banks to post record net profit growth in the last five quarters.
Union Finance Minister P Chidambaram said in the Lok Sabha the Reserve Bank of India and the Securities and Exchange Board of India have taken up corrective measures in the IPO scam.
The Reserve Bank has cautioned the public not to fall prey to spurious offers made by a fake website in its name offering savings accounts.
Nearly 4,000 clerical cadre and staff have sought early retirement from the country's largest commercial bank, State Bank of India.
Mutual funds cannot invest more than 10 per cent of the total net assets of a scheme in the short-term deposits of a single bank, the Securities and Exchange Board of India said on Monday.
An interview with Zhan Xiangyang, director general of the world's third largest bank, with a market capitalisation of $183.85 billion.
Finance Minister Arun Jaitley on Wednesday said it was responsibility of banks to ensure no defaulter manages to get away.
The bank's profit is buoyed by robust growth in its commercial banking and mortgage businesses.
Will the Financial Resolution and Deposit Insurance Bill endanger our bank deposits?
The officer and staff unions of the State Bank of India, the country's largest commercial bank, are working on a joint strategy to oppose the government's decision to acquire the Reserve Bank of India's 59.73 per cent stake in the bank
Bankers have said that lending rates could go up to 0.5 per cent after the Reserve Bank's annual credit policy, which is widely expected to take stringent monetary measures to contain price rise. Many expect the central bank to effect a hike in cash reserve ratio (CRR), the rate of amount all commercial banks need to keep with the Reserve Bank, in its annual credit policy on April 29. Many banks, including SBI, had revised their lending rates downwards early this year.
The country's largest commercial bank State Bank of India is likely to go for stake sale by December as a part of its efforts to mobilise Rs 50,000 crore (Rs 500 billion) in the next three years.
Fix India's real estate sector. Fix India's public sector banks, advises Tamal Bandyopadhyay.
SBI's profits are expected to take a hit of Rs 800 crore for each of the next five years with the bank needing to make additional provision of around Rs 4,000 crore due to changes in accounting norms.
Heading to the third year, will Urjit Patel be busy firefighting a currency crisis? Almost no governor of the RBI managed to evade it and Patel perhaps knows it.
India's economic growth rate in the January-March quarter is likely to slip to 7.2 per cent q-o-q.
The Reserve Bank of India on Friday allowed commercial banks to raise capital funds through issue of foreign currency debt instruments. Foreign institutional investors can invest in these instruments.
Commercial banks were on Tuesday asked to improve credit quality by undertaking a segment-wise analysis and take steps to expand in those areas where credit demand is growing rapidly.
Urban cooperative banks may be your solution to cheaper funds and higher returns, but check out the fundamentals.
Air Deccan announced on Tuesday its tie-up with State Bank of India for on-line ticket booking.
The central bank's decision to raise the repo rate is a signal to commercial banks either to increase their deposit base or improve credit quality appraisal, RBI Deputy Governor Rakesh Mohan said on Tuesday.
In its mid-term review of Annual Policy for FY07, RBI said that this relates to standardised approach for credit risk and the basic indicator approach for operation risk under Basel II.
With Deputy Governor Viral Acharya and another member Chetan Ghate voting for a status quo, RBI governor Shaktikanta Das and three others outvoted them for reduction in repo rate to 6.25 per cent from the existing 6.50 per cent.
Non-performing loans in the Chinese banking system stood at RMB 1.27 trillion at the end of 2015.
South Africa's Retief Goosen clinched the Qatar Masters golf tournament on Sunday.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances