Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
The Arun Jaitley-led finance ministry reiterated banks should act tough on wilful defaulters.
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
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SBI will hold 30 per cent in RIL joint venture
Rediff.com's A Ganesh Nadar takes a tour of banks in a Chennai suburb and finds that nothing has changed in one month since demonetisation.
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.
Did the transaction fail? Did you receive your money on time?
Shine Jacob & Karan Choudhury highlight the red flags raised by the Controller General of Accounts.
Even as RBI allowed banks to charge ATM transactions beyond five in metros, the lenders are yet to restrict the number of free withdrawals for their own customers at home ATMs.
Rediff readers share their Cash Crisis experiences.
But how do they compare with their competitors? Ashish Narsale has the answer.
Success eluded them on the European and the PGA Tour but Indian golfers enjoyed a decent run in Asia, with rising talents Rashid Khan and Anirban Lahiri sharing four titles between them even as some seasoned veterans struggled in a mixed year for the sport.
Private sector banks are way behind their PSU peers when it comes to opening financial inclusion accounts under the Prime Minister's Jan Dhan Yojana
Bankers have hailed the Prime Minister's call to end "financial untouchability" and opened millions of accounts on the inaugural day itself.
BoB's offer of a lower home loan rate to customers with credit scores of 760 and above makes it incumbent on everyone to pay heed to this all-important number.
"Here is an opportunity to look at it from a different perspective. It is an out of the box situation. It maybe a first of its kind situation.
If you are have an account with State Bank of India, HDFC Bank or Axis Bank you will have to pay higher charges for using ATM more than five times a month.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
ICICI Bank, ONGC and Tata Motors contribute to nearly 50% gain seen on the Nifty.
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
MCLR-linked loans are more responsive to RBI's rate movements, and rate cuts may be transmitted to borrowers in a manner useful to them.
Relaxation in KYC guidelines has helped meet the target but this could lead to money laundering and financial malfeasance, it is feared.
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Reliance, Birla Group, Airtel eye small finance banks.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
'Which is the line for depositing money?' 'Which is the line for changing money?' 'Which is the line for withdrawing money?'
Top gainers from the Sensex pack are Asian Paints, Bajaj Auto, ITC, NTPC, L&T and HDFC, all up 2% each
Watal panel had suggested an independent payments regulator be set up.
The preference for digital banking now cuts across all customer segments.
The Survey shows fiscal consolidation despite slowdown in growth.
The Supreme Court on Friday dubbed as a "serious issue" the long queues outside banks and post offices and expressed its reservation on the Centre's plea seeking a direction that no other court in the country should entertain petitions challenging the November 8 notification demonetising Rs 1,000 and Rs 500 currency notes.
Any saving on the car loan EMI can translate into major savings.
Srei Infrastructure's vice-chairman -- and former Assocham president -- Sunil Kanoria discusses the Kanoria businesses and his impression of the Modi government with Ishita Ayan Dutt and Namrata Acharya.
ONGC was the top gainer which surged over 4% followed by Axis, SBI, CIL
Vijay Mallya, who faces prosecution in India, is reportedly in London.
Biggest ever share sale by any private or public sector co in India.
P Murugesan has been sending telegrams for 33 years in rural Tamil Nadu. He remembers hectic marriage seasons, many moons ago, when everyone sent telegrams. And days when even 15 Morse machines could not handle the load...
'There are a lot of positive things these reforms are bringing about and it is only a matter of some quarters before the growth rate picks up momentum.' 'Until then we need to be a little bit patient.'
Jaitley's Budget has the potential to change the face of Modi's Bharat
Investors booked profits at higher levels with oil shares leading the decline
Amit Jaiswal, head of academics, MockBank.com shares expert advice with our young aspirants.
