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.
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 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!
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.
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
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.
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.
Banks, including country's largest lender State Bank of India, have informed the customers well in advance about the likely inconvenience due to strike.
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.
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.
Demand for the earlier variant 737NG planes is also expected to pick up due to the grounding of MAX planes.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
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 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.
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.
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
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.
'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.
The bank unions had threatened to go on 4-day strike from February 25.
The RBI plans to increase e-smart facility.
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.
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.
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 current process for selecting auditors could compromise their "independence".
