Customers will not be able to conduct transactions in banks for 4 days in a row as they will be closed from Thursday in many states.
Demand for the earlier variant 737NG planes is also expected to pick up due to the grounding of MAX planes.
They have cited higher capital for bad-loan provisioning, pending legislative amendments, and delay in finalising rules by the Reserve Bank of India (RBI) as some of the reasons.
The finance ministry is considering a proposal by Indian Bank's Association to give post allowance to chairmen and executive directors of public sector banks, a key official said on Tuesday.
Banks, including country's largest lender State Bank of India, have informed the customers well in advance about the likely inconvenience due to strike.
The Reserve Bank of India has set up an experts committee to implement Basel II accord by 2006 to strengthen the financial health of banks by adopting globally accepted norms for capital adequacy.
Bank unions on Thursday called for a nationwide strike on August 24 to protest the 'negative attitude' of the Indian Bank Association over employees' wage revision.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
Professional boxers can compete at the upcoming Olympic Games in Rio de Janeiro, the sport's governing body ruled in a landmark decision on Wednesday. Meeting at an extraordinary congress in Lausanne, Switzerland, 88 members of the International Boxing Association (AIBA) voted in favour of the move, while none voted against and four abstained. The final results of the vote were told to AFP by a senior official within AIBA who requested anonymity as they were not authorised to speak publicly on the subject before the official announcement.
More than 200,000 bank officers began a one-day strike on Friday to demand a wage increase, a move unions said would halt banking operations.
Over 10 lakh (1 million) bank employees across the country are likely to strike work on Tuesday in protest against the 'negative attitude of the Indian Banks Association and the central government' towards their wage revision.
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
The following are the highlights of the mid-term review of Monetary and Credit Policy for the year 2003-04.
The decision is in response to the strike call given by United Forum Of Bank Unions, which has more than 10 lakh (1 million) employees and officers of banking Industry under its umbrella.
The United Forum of Bank Unions consisting of nine bank unions has threatened to go on a one-day strike on August 24 in support of their wage demand.
AIBEA is part of United Forum of Bank Unions, the umbrella organisation of employee and officer unions of nine banks, which has given the call for one-day strike on January 7 and four days from January 21 in support of their wage hike demand pending since November 2012.
The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
The bank unions had threatened to go on 4-day strike from February 25.
For banks, the package will limit the burden of provisioning for stressed loans. Besides, the proposed restructuring package for MSMEs with a credit of up to Rs 25 crore is expected to provide a breather to units from this sector.
The RBI plans to increase e-smart facility.
The resolution plan has to be put to work this month itself. Jet has a debt of over Rs 8,000 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.
Microsoft will stop technical support for its most popular operating system (OS) Windows XP globally from Tuesday, bringing down curtains on the software giant's longest running OS.
The government has asked the Indian Banks' Association to make sure that IDBI Bank's wages are on a par with other banks.
Banks argued that loans of most lenders are funded primarily by retail deposits and not from the wholesale market as was the practice abroad
The current process for selecting auditors could compromise their "independence".
Macroeconomic factors under control, says Rajan
If you default, it will affect your credit score and your career.
In his Budget speech, the finance minister said: "We propose to facilitate higher investment in affordable housing. Affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits."
Around 10 crore bank accounts opened under the Jan Dhan scheme.
Head of state-run Indian Bank T M Bhasin had called for a CRR cut.
SBI Chairperson Arundhati Bhattacharya said any rate cut by the bank would depend on a lot many factors.
Banks Board Bureau chief Vinod Rai has proposed performance-linked incentives for bank employees, but the staff unions are dead against the idea.
At present, there is no cap on free transactions at own-bank ATMs, while customers can use other banks' machines up to five times a month without any extra cost.
From Dabur to HUL, here are 10 stocks with significant rural exposure in the auto, agri-chemical and fast moving consumer goods sectors, which should see an uptick in sales growth.
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