Imran Khan shares his life lesson. You can share yours too!
Some banks are disbursing only Rs 5,000 per person while those having better cash availability are offering Rs 10,000 or Rs 12,000 per withdrawal
Branch networks will give preference to pensioners and labourers for withdrawing money.
'I pack my water, biscuits, books and tent, and take my place in the queues.' 'Every time I get close, cash runs out.' 'Deserted shops, my dry bank, the empty ATMs -- this entire gigantic shitstorm is now more real and easier to process,' says Mitali Saran.
The tiny Central American nation of El Salvador has embarked on an interesting experiment by recognising bitcoin as legal tender. This is proving painful for many of its citizens but it's a useful "pilot" project for larger economies that are contemplating the peculiarities of this new asset class. El Salvador has a population of 6.5 million and GDP of about $27 billion.
The Assam government has taken the initiative to pay workers their wages electronically and has asked banks to open branches adjacent to tea gardens and install ATMs in estates.
The WB CM visited three banks and several ATMs at Sarat Bose Road, Bhawanipore and Chowringhee and spoke to the people there. "These are all common people. Let the government nab the real culprits," Banerjee said.
The vehicle was carrying cash in new currency notes for wage payment to employees of a tea garden.
Protect yourself and minimise such frauds by following these simple rules
March 28 is a holiday on account of Ram Navami.
The staff of public sector banks had gone on a nationwide strike for two days beginning February 10 after discussions with the IBA failed.
DBS Bank India on Monday said customers of Lakshmi Vilas Bank, which has now been merged with it, can continue to access all banking services, and interest rates on savings and fixed deposits are unchanged as of now. Lakshmi Vilas Bank (LVB) has now been amalgamated with DBS Bank India Ltd (DBIL), the wholly-owned subsidiary of DBS Group Holdings Ltd, DBS Bank India said in a statement.
Tamil Nadu-based Lakshmi Vilas Bank (LVB) with pre-independence lineage on Friday lost its identity after its merger with the Indian subsidiary of Singapore's DBS Bank. The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday.
'The reason is that you may not enter the branch but you want to see it near you as it establishes trust.'
The government on Tuesday extended the deadline for filing income tax and GST returns, raised the threshold of default that could trigger insolvency of a company, and waived charges on cash withdrawals from ATMs of other banks as a precursor to a broader stimulus package for the economy distressed by the coronavirus outbreak.
Lifting of deposit withdrawal moratorium on March 18 could open flood gates and will require a calibrated approach along with active support and signaling from the RBI, government and investor banks.
A day after the RBI put in public domain a draft scheme of merger of Lakshmi Vilas Bank (LVB) with subsidiary of Singapore-based DBS, public sector banks' officer union AIBOC on Wednesday said the amalgamation is not in the national interest and demanded the consolidation with any PSB. The proposed amalgamation of the cash-strapped LVB with DBS Bank India seems to be a ploy to provide entry of foreign banks into the country in a big way, All India Bank Officers' Confederation (AIBOC) president Sunil Kumar said. The Indian banking sector provides huge opportunity for growth, so the foreign banks have been looking at inorganic route to expand their presence for long, he said.
Amid increasing popularity of virtual currencies in various parts of the world, the Reserve Bank of India (RBI) on Monday said it is open to exploring the possibility of a digital version of fiat currency. Host of private digital currencies, virtual currencies and cryptocurrencies have gained popularity in recent years, though Indian authorities continue to remain sceptical about them. "In India, the regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks. "Nevertheless, the RBI is exploring the possibility as to whether there is a need for a digital version of fiat currency and in case there is, then how to operationalise it," the RBI said in its booklet on 'Payment Systems in India -- Journey in the Second Decade of the Millennium'.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
A day after the Patna high court slammed the Bihar government for its poor handling of the second wave of the pandemic and sought to know whether it was enforcing lockdown or not, the administration on Tuesday announced imposition of lockdown from May 5 to May 15.
In an interview to Republic Bharat, Prime Minister Narendra Modi spoke of the BJP's prospects in the polls, emergence of an Opposition front, dynastic politics and several other issues.
'I have exited at least six WhatsApp groups because I am tired of your bhakts who impose their views on your behalf.' 'Why can't I have a healthy discussion about my nation's future without being called deshdrohi?' asks Divya Nair.
He said it may take up to 3 weeks for all the 2 lakh cash vending ATMs to operate normally as each one has to be calibrated individually to dispense new sized notes of Rs 2000 and Rs 500 besides lower denomination currency of Rs 100.
In Round 1, 62 per cent strongly supported the continuation of the lockdown and 24 per cent expressed some support.
Cheque payments will be safer; the limit for contactless card transactions hiked.
Modi noted that Brazil too has a population comparable to Uttar Pradesh but it witnessed thousands of deaths due to the virus. In Uttar Pradesh, the deaths due to COVID-19 are reported to be nearly 800, he pointed out.
The Health and Family Welfare department had issued a detailed order on Sunday, notifying the lockdown in the whole of Delhi, stipulating various restrictions.
Organisations value employees who go beyond their boundaries and step up to the occasion when the need arises.
"After my discussion with Craig Barret, the CEO of Intel said they have finalised on India, said IT minister Dayanidhi Maran.
A Reserve Bank panel has decided against the inclusion of any other national leader's image on banknotes saying that no other personality could better represent the ethos of India than Mahatma Gandhi.
The two entities' combined distribution network would comprise 4,182 banking outlets and 476 ATMs across 34 states and Union territories of India, with more than 31,000 employees serving about 15 million customers across the country.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
Now that you have already downloaded mobile wallets and all set to go cashless/digital with your payments to the local grocer, cabbie, maid, etc, here's what you must watch out for, says Tripti Rai.
In a set of FAQs on applicability of Goods and Services Tax on banking, insurance and stock brokers sectors, the revenue department has clarified that transactions relating to securitisation, derivatives, future and forward contracts are exempt.
India's leading banks are seizing opportunities in an emerging low-carbon economy.
'I expect normalcy to return in one or two days,' says Tuticorin's new Collector Sandeep Nandur.
