Finance Minister P Chidambaram will meet bankers on June 3 to review operations of banks, firm up next generation banking reforms and set targets for credit flow to sustain 7 per cent growth in economy.
The Reserve Bank of India is expected to kick off the pilot project on cheque truncation, which eliminates physical movement of cheques, in Delhi over the next 9-12 months.
26 chartered accountants associated with such shell companies have also been identified
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 government is not averse to mega merger of banks and financial institutions like IDBI and IFCI, if all stipulated norms of the Reserve Bank of India are met, Finance Minister P Chidambaram said on Wednesday.
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.
Bankers have decided to fight back against 'arbitrary arrests' and 'harassment' by probe agencies.
The conciliation talks between UFBU and Indian Banks Association held in Mumbai moved a step ahead positively after the IBA offered a 9.5 per cent hike on pay slip cost and hold another round of talks on January 27, UFBU national Convenor M V Murali told PTI in Tirupati over phone.
Banks may approach the government to further strengthen the Securitisation Act, which apparently got diluted with the waiver of a provision requiring defaulters to deposit 75 per cent of the loan
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.
Public sector banks together may take a hit of about Rs 2,200 crore (Rs 22 billion) annually if Indian Banking Association succumbs to trade unions' pressure and agrees to hike salaries of staff by 11 per cent this fiscal.
The nationwide bank strike scheduled on October 5-6 has been called off after Indian Banks Association agreed for fresh negotiations with bank unions on wage revision and other demands.
Bank unions appear to be divided on whether or not to go on a two-day nationwide strike on October 5 and 6.
Use of blockchain technology will ensure that banks will not be blindsided like in the case of the Nirav Modi-Mehul Choksi blowout at PNB, says Raghu Mohan.
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.
Electing Union Bank of India chairman V Leeladhar as the new chief, the Indian Banks Association on Thursday said it has constituted a committee to draw up a long-term perspective 'Vision Plan' for the banking industry.
"We are open for further reduction in prime lending rate," Indian Banks Association Chairman Dalbir Singh said in New Delhi while addressing a seminar organised by PHD Chamber of Commerce.
The insolvency and bankruptcy code will strengthen the hands of lenders to recover outstanding debts by setting a deadline of 180 days for companies to pay or face liquidation
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 scheme calls for banks, refineries and hallmarking centres to work together.
Using ATMs to withdraw money or for other purposes like balance enquiry beyond five times in a month will attract a levy of Rs 20 per transaction from November 1.
Tax shortfall: Finmin asks banks to deposit March TDS by month end.
The RBI expects non-food credit growth to pick up marginally to 15 per cent in 2013-14 from 14 per cent achieved in the previous fiscal and deposit mobilisation to be flat at 14 per cent.
The bank unions had threatened to go on 4-day strike from February 25.
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