Indian boxer Anamika (50kg) showed her prowess and technical superiority to advance to the pre-quarterfinals of the IBA Women's World Boxing Championships
As part of the IBA package, housing loans up to Rs 500,000 and between Rs 500,000 and Rs 20 lakhs would attract a maximum interest rate of 8.5 per cent and 9.25 per cent, respectively, for the first five years. To a question on possible increase in disbursal of home loans after implementation of the package, he said the numbers could be gauged in a fortnight.
Banks have written off bad loans worth Rs 10,09,511 crore during the last five financial years, finance minister Nirmala Sitharaman informed Parliament on Tuesday. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of write-off, she said in a reply to Rajya Sabha. "Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards.
Nikhat Zareen punched her way to a second successive gold title at the Women's World Boxing Championship in New Delhi.
On the heels of Delhi Consumer Court imposing Rs 55 lakh fine on ICICI Bank for the excesses committed by its recovery agents, the Indian Banking Association has asked all the banks to follow the industry code of conduct with regard to collection of bad debts.
The 21-year-old from Haryana then landed a flurry of punches in the third round as the last three minutes were closely-fought between the two. But Nitu defended tightly and looked in control to emerge victorious.
The current wage revision for PSBs, as well as some private lenders, is due from November 2017 for five years - up to October 2022.
Banking services are likely to be affected for the next four days as employees of PSU banks plan to go on a zone-wise relay strike beginning with Southern region from Tuesday, after wage revision talks failed.
The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, has given a call for a two-day strike from December 16 to protest against the proposed privatisation of two state-owned lenders. In the Union Budget presented in February, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs) as part of its disinvestment plan. The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and merged 14 public sector banks in the past four years.
About 1 million bank officers are expected to participate in the strike on May 30 and May 31
However, the likely impact of strike may not be much excluding few areas, said SBI.
Using ATMs beyond the permissible free transactions for cash as well as non-cash purposes will cost more from Saturday. As per the Reserve Bank directive issued in June, the banking customers would be required to pay Rs 21 per transaction with effect from January 1, 2022 for transactions beyond the free permissible limit. Presently, banks are allowed to charge Rs 20 for such transactions through ATMs.
In an effort to soothe nerves of the country's mutual funds and the non-banking finance companies, the bankers today assured that they would come forward to support these financial institutions' funding needs including liquidity to meet redemptions.
AIBOC in a letter to the Prime Minister, has said the government should not expect the banking fraternity to "join the political campaign of #MainBhiChowkidar" unless issues related to merger of banks, salary revision and staff recruitment, among others, are addressed.
The Supreme Court asked the Centre and the RBI on Monday to place on record the K V Kamath committee recommendations on debt restructuring in view of Covid-19 related stress on various sectors as well as the notifications and circulars issued so far on loan moratorium.
Unions claimed that about 10 lakh staff and officers of public sector banks and some private sector banks are participating in the strike.
A call by the Traders Federation in Tamil Nadu to ban sales of Coca Cola and Pepsi soft drinks came into effect on Wednesday with its president A M Vikrama Raja declaring drinks as 'toxic' for consumption.
The CWG is set to be held in Birmingham from July 28 to August 8.
Finance Minister P Chidambaram said on Tuesday the Reserve Bank of India and Indian Banks Association have no objections on raising bank credit to minorities but difference of opinions need to be reconciled before a policy position is brought out.
The Reserve Bank on Wednesday came out with revised guidelines for the hiring of lockers under which the liability of banks will be limited to 100 times its annual rent in case of fire, theft, building collapse or frauds by bank employees. As per the revised guidelines, which shall come into effect from January 1, 2022, banks will be required to incorporate a clause in the locker agreement prohibiting the hirer from keeping anything illegal or hazardous in lockers. The RBI said it has reviewed the 'Deposit Locker/Safe Custody Article Facility provided by the banks' after taking into consideration various developments in the area of banking and technology, nature of consumer grievances and also the feedback received from banks and Indian Banks' Association (IBA).
Bank employees' unions have decided go on a day-long strike on January 7 across the country to press for a wage hike. Bank unions have also threatened to go on strike on multiple days later this month if their demand is not accepted.
Cheque clearances and cash withdrawals and deposits in public sector bank branches across the country were hit as employees started a two-day strike on Monday to press for a revision in wages.
Lenders send 'SOS' to the finance ministry on the tardy decision making and pile-up of cases at the Debt Recovery Tribunals and its appellate forum the Debt Recovery Appellate Tribunal.
According to the RBI's April 6 circular, cash loading companies, which take cash around the country, are supposed to increase their net worth to Rs 1 billion within 90 days.
Senior citizens are exempted and they can go to any bank branch to exchange notes tomorrow
The Reserve Bank of India (RBI) on Wednesday gave banks time till October 31 to comply with its guidelines on current account and overdraft facilities. The central bank indicated that it was in no mood to change the proposed rules, but would only allow for stretching the timeline for smoother implementation. The initial deadline had ended on July 31, leading to thousands of current accounts being closed or frozen by banks. Lenders had requested the RBI for some more time to resolve the operational issues in implementing the provisions of the August 2020 circular in letter and spirit.
Bankers have decided to fight back against 'arbitrary arrests' and 'harassment' by probe agencies.
Nikhat Zareen (52kg), Manisha (57kg) and Parveen (63kg) continued their stellar run at the IBA Women's World Boxing Championships in Istanbul on Monday by advancing to the semi-finals but five other Indians bowed out after suffering quarter-final losses.
Government suspects that many of these bank accounts were used to launder money, especially after the demonetisation in November 2016.
The United Forum of Bank Unions would be holding a one-day all-India strike on January 7 followed by a four-day strike from January 21-24.
Dissatisfied with the wage hike offer made by Indian Banks' Association (IBA), public sector lenders' employee unions on Monday threatened to go on a two-day strike from February 10.
Normal banking operations like cheque clearance in public sector banks across the country are likely to be hit on Wednesday as employees have decided to go on one-day nation-wide strike to press for wage revision.
'It seems to be a bit of an aberration. It should be set right; there is a proper mechanism in place. In the normal course, the state police do not have any jurisdiction on central government employees,' the official said.
To give impetus to the real estate sector, Goyal proposed to extend the period of exemption from levy of tax on notional rent on unsold inventories from one year to two years.
Unions said the revised wage structure should reflect the merger of dearness allowance.
After the finance minister directed public sector banks to join the account aggregator (AA) ecosystem, 5-6 major ones, including State Bank of India (SBI) and Bank of Baroda are expected to go live by July-end. Sahmati, an industry alliance for the AA ecosystem, has been working with PSU banks to get them onboarded for quite some time now. So far, Union Bank of India and Punjab National Bank (PNB) have gone live on the AA ecosystem. While Union Bank has been live for a while, PNB went live earlier this month.
Although the RBI's open market operations have ensured sufficient system-level liquidity, some sectors are finding liquidity to be a challenge owing to their credit profile.
The All-India Bank Employees Association on Friday said the proposed two-day national strike on July 25-26 has been deferred after a meeting with Indian Banks Association (IBA) and the labour commissioner in Mumbai.
The wage revision of public sector bank employees is due from November 2012.
