The apex bank has sent a communication in this regard to Indian Banks' Association and this is expected to be implemented shortly, IBA chairman K Ramakrishnan told PTI. Since April 1, RBI had declared third party ATM usage, including cash withdrawals and account enquiries, free for all customers and said that banks can charge Rs 18-20 per month from other banks in case of third party ATM transaction.
The AISBOF wants bank employees' wage revision in parity with that of the Indian Administrative Services officers. Last month, the IBA had given an initial offer of 10 per cent wage hike, or a package which would cost the industry Rs 2,750 crore (Rs 27.5 billion), against Rs 2,220 crore (Rs 22.2 billion) in the eighth bipartite meeting between bank unions and IBA.
Banks would soon be able to determine whether a property is already mortgaged when a borrower approaches them for a loan against it and this would help in checking the increasing instances of housing loan frauds.
Of the six-member rate-setting monetary policy committee, five members voted for a 25 bps cut while one by 40 bps, the RBI said.
Despite a steady trickle of patients throughout the night of November 26 the staff of Bombay Hospital did a great job of saving precious lives.
World Boxing Council Asian champion Neeraj Goyat was the lone Indian left in fray for an Olympic berth after he entered the semi-finals even as other two bowed out following first round losses in the International Boxing Association's Olympic Qualifying Tournament for professional boxers in Vargas, Venezuela.
The venue for Saturday's meeting was shifted at the last minute from the headquarters of the India Banks' Association in Cuffe Parade to avoid media glare.
With the 50 bps rate cut now more banks are expected to reduce their base rate.
Bankers have requested RBI to keep interest rates stable this fiscal, in lieu of sufficient liquidity in the system.
Foreign banks operating in India want the Reserve Bank of India to prepare a vision document on policy changes they can expect after March 2009.
The interest rates on deposits continue to be high despite ample liquidity due to monetary policy uncertainty and expectations that liquidity would tighten later this year. Banks are still offering peak interest rates of 9 to 9.5 per cent on deposits
It is Finance Minister P Chidambaram's meeting with leaders of public sector bank unions that averted the three-day bank strike proposed from March 28.
"If IBA does not come out with a solution with regard to our demands within given time-frame of three months ending on May 31, then we will be left with no option but to again adopt agitational path. And this time, we will observe indefinite strike," All India Bank Officers' Confederation (a member of United Forum of Bank Unions) General Secretary Amar Pal said in Chandigarh on Monday during the 8th Triennial General Council meeting.
Delays in returning money for disputed transactions have also come under RBI's scanner.
Say 30 days not enough to resolve stress; want higher provision norms deferred till economy picks up
She said she had gone back to hotel and decided to return and speak frankly about the humiliation she suffered in the Limousine sent to bring her to Edison.
As Microsoft ends support for its Windows XP next month, the software giant said a number of ATMs are yet to upgraded and such cash vending machine may face security risk.
The banking industry could witness another round of prime lending rate hikes beginning next week, a top Indian Banks' Association official said on Wednesday.
Applying for a loan? Your religion will soon be a deciding factor!
Demands include 5-day banking, PF to be calculated on total salary and allowances, not only on basic
According to ICRA, even in a high-growth scenario, wherein the second half of FY20 sees the incremental bank credit rise to Rs 6.5-7 trn, there will still be a 40-45% year-on-year decline.
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.
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.
Banks, including country's largest lender State Bank of India, have informed the customers well in advance about the likely inconvenience due to strike.
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.
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.
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
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.
The following are the highlights of the mid-term review of Monetary and Credit Policy for the year 2003-04.
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.
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.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
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.
