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 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.
'The reason is that you may not enter the branch but you want to see it near you as it establishes trust.'
In Round 1, 62 per cent strongly supported the continuation of the lockdown and 24 per cent expressed some support.
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.
Cheque payments will be safer; the limit for contactless card transactions hiked.
'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.
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.
Organisations value employees who go beyond their boundaries and step up to the occasion when the need arises.
The Health and Family Welfare department had issued a detailed order on Sunday, notifying the lockdown in the whole of Delhi, stipulating various restrictions.
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.
The correlation between withdrawal of deposits and the Covid death rate is stark, reveals Tamal Bandyopadhyay.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
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.
"After my discussion with Craig Barret, the CEO of Intel said they have finalised on India, said IT minister Dayanidhi Maran.
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.
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.
'I expect normalcy to return in one or two days,' says Tuticorin's new Collector Sandeep Nandur.
India's leading banks are seizing opportunities in an emerging low-carbon economy.
He claimed that Bharatiya Janata Party people were alerted beforehand about the demonetisation. "How can one explain the BJP people in West Bengal depositing crores in high-denomination notes just before PM's announcement on November 8?" Rahul asked. "BJP workers were seen holding up bundles of the new Rs 2000 notes, as seen from images on the Internet, before Modi announced this decision," he told reporters in suburban Bandra.
The Karnataka government on Wednesday decided to conduct an inquiry into the violence in parts of the city on Tuesday night, in which at least three people were killed and scores of others were injured, through a district magistrate.
Euronet Worldwide, a leading electronic payments provider, has signed a multiyear ATM outsourcing agreement with a large multi-national bank in Mumbai, for its existing nationwide network of 245 ATMs.
Axis Bank recently informed the Reserve Bank of India that it had experienced a cyber attack, while the State Bank of India said it was re-issuing over 600,000 debit cards because of a potential security breach.
This is the fifth increase in withdrawal limit since the bank was placed under its direct control with an administrator on September 23. Since then as many as nine depositors have lost their lives including a 74-year-old man from Thane on Monday.
In an interview with K Rajani Kanth, NCR Corporation's managing director (India, Nepal and Sri Lanka) Pradeep Sen outlines the company's road map for India, including its plans to scale up its research and development efforts, manufacturing capacity expansion and taking the partner-ecosystem route to penetrate the petroleum and general retail segment.
In the fifth of a six-part series on the impact of demonetisation, Avishek Rakshit senses a storm brewing over the 850-odd tea gardens in the north eastern state, which have a weekly and fortnightly payment cycle.
Taking a dig at Narendra Modi's demonetisation move, Uttar Pradesh Chief Minister Akhilesh Yadav termed cashless economy as a "bigger dream" than 'achche din' and said the note ban will be an issue in the upcoming assembly elections in the state.
The earliest ones included whistles shaped like birds, toy monkeys that could slide down a string and small carts made from materials found in nature such as sticks, clay and rocks. While there might be no disputing India's rich toy-making tradition, the industry is languishing for lack of investment and technology, and also owing to competition from cheap imports. And though it has been listed among 24 key sectors under the government's Atmanirbhar Bharat Abhiyaan, the question remains: will this push help place it in the global game? Currently, 80-odd per cent of the toys sold in India are imported - nearly 60 per cent of them from China.
'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
The hoarding of cash accentuated from the very start of 2020, when the coronavirus pandemic started taking hold the world over, and fear of the pandemic prodded people to remain liquid for emergency use.
The triple lockdown in force from Monday would last for a week.
'RuPay' is developed by National Payments Corporation of India.
Love it or hate it, you simply cannot ignore apna #Indianisms, can you?
When Hitesh Harisinghani and Jahnavi Patel hit the streets of Mumbai after Modi's demonitisation announcement, here's what they found.
The re-invention that PSU banks have undergone recently is a great story.
