Private lender Kotak Mahindra Bank Ltd said on Thursday its board had approved the acquisition of local rival ING Vysya Bank Ltd, in which Dutch lender ING Groep NV owns about 43 per cent, in an all-stock deal.
Every customer, on opening a Payments Bank account, will get a cashback of Rs 250 as soon they bring deposits of Rs 25,000 in their bank account. The account will have zero balance requirement and every online transaction (such as IMPS, NEFT, RTGS) will be free of charge.
The HC asked the investigators to look beyond their current line of probe to apprehend the culprits.
With the first salary date after demonetisation around the corner, will India's labourers be able to take their hard-earned wages home?
For people at the bottom of the pyramid, which I would rather address as mass market or emerging class; the primary challenge in accessing banking services are not just affordability but applicability and accessibility of services.
Jaitley said banking network is expanding hugely and the health of banks reflects on the challenges for the economy.
For online fraud, approach cyber cell and file a complaint.
From small retailers' experiences with e-wallets to digital transaction numbers post demonetisation, Geetanjali Krishna and Karan Choudhury find out where the truth lies.
'Reports of hitherto 'atmanirbhar' breadwinners having to stand in line for a plastic bag of khichdi or, travelling thousands of kms with nothing but packets of biscuits, have not moved the prime minister,' observes Jyoti Punwani.
According to Association officials, Indian Banks' Association offered only a 11.5 per cent increase in hike compared to 17.5 per cent offered in 2011-12.
The govt has a lot more to do then just open bank accounts for the poor in the Jan Dhan scheme.
If you use customised cards that suit your lifestyle needs, you could also end up availing of a variety of deals, rewards, and discounts.
NPCI has launched several consumer friendly systems including one that allows users to transfer money to people over mobile phones across India.
It's not e-retailers alone. Bankers are also celebrating initiatives like 'Big Billion Day Sale' this festive season.
What can households do with the old Rs 500 and Rs 1,000 notes? How can they find Rs 100 and smaller denominations?
Discussions are on in government about how to make the process simpler for the poor and more cost-effective for telecom operators, says Subhomoy Bhattacharjee.
Currently the currency in stock is about Rs 2 lakh crore and the reserves are adequate to meet any unusual spurt in demand
The rupee had lost more than 8 per cent since the first week of May, after the US Fed indicated it may start scaling back its monetary stimulus programme later this year.
Daily wage earners and casual low income group workers were the worst affected
With cyber criminals becoming savvier by the day, learning how to safeguard yourself is imperative.
'Nobody will wait now. Everyone will come to deposit their old notes. The confidence is shaken.'
Things are expected to change dramatically in a few years for urban consumers.
SBI had a tough journey in the last 40 years.
Experts tell Tinesh Bhasin how to pick one to save money as well as some troubles later
When submitting house rent allowance receipts, claiming that you pay rent to a close relative like parents, siblings or spouse, ensure that you have supporting documents to substantiate it.
Breaking his silence over the demonetisation issue, RBI Governor Urjit Patel on Sunday said the central bank is monitoring the situation on a daily basis and taking all necessary actions to "ease the genuine pain of citizens" with a clear intent to normalise the things as early as possible.
While it's not difficult to fall prey to card fraud, individuals can protect themselves against losses.
Its obsession for growth, chasing corporate clients and giving up its original mandate of meeting the needs of local trade and businesses. A quarter of its loan book has gone bad. That's an error of business strategy, points out Tamal Bandyopadhyay.
Travel cards are like debits cards-loaded with the currency of your choice or which the lenders offer.
Demonitisation will facilitate transparency in the real estate industry, which has had a notorious reputation as a safe locker for black money, says Saket Mohta.
In refusing to accept its failure, the government has sowed the seeds of further damage: by keeping India short of cash; reducing the headroom for responses to seasonal spikes in cash demand; and increasing the chances that groups will panic at temporary cash shortages, says Mihir Sharma.
A well-run non-banking company has better margins than a bank, but the objective of setting up Ujjivan was to provide comprehensive financial inclusion, Ujjivan Small Finance Bank MD & CEO Samit Ghosh tells Anup Roy in an interview.
While Bihar and J&K have the least proportion of bank account holders using debit cards at PoS machines, Telangana's record is the highest.
'There has to be an 18-month transition.' 'But if the government had some prior knowledge that the high value notes were being used for an imminent terrorist activity in the country, then we have to accept the step.'
'This wipes out the entire black money in the nation in one stroke. Ninety per cent plus of the black money is kept in Rs 500, Rs 1,000 notes. What they have done is a brilliant move.'
Don't reveal any information to strangers.
Ruling out a cut in lending rates, bankers said the status quo policy stance of the Reserve Bank will be followed by them, at least in the near-term.
Under KV Kamath's leadership, ICICI Bank's revenues grew multi-fold.
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