Banking

The privatisation of two state-owned banks and one general insurance company could be shifted to the upcoming financial year. In the Union Budget meet on February 1, FM Niramala Sitharaman announced the government’s plan to conduct…

Deloitte and SBI Caps have been appointed as pre-IPO transaction advisors. The Union Cabinet has approved the disinvestment of LIC, India's largest insurer. A panel led by the finance minister will decide the quantum of stake to be…

This is a record number of banks fined by the regulator on a single day. RBI has penalised 14 banks including Bandhan Bank, Bank of Baroda and State Bank of India (SBI) for multiple rule violations. This is a record number of banks…

HDFC Will Pay R 4.75 Lakh Penalty For This Reason: Check List Of Fines Imposed On HDFC For non-compliance with some norms, the National Housing Bank (NHB) has imposed a fine of Rs 4.75 lakh on Housing Development Finance Corporation…

100,000 Employees Of United India Insurance Oppose Privatization Move; Demands Merger All India Insurance Employees’ Association (AIIEA), has demanded that the govt remove United India Insurance company from consideration for…

With this new mandate, many profitable current accounts could migrate from MNC banks to public sector lenders and some of the large private sector Indian banks. Reserve Bank of India (RBI) has set a deadline of July 30 till which…

Both the banks could see the sale of 51% stake in the first phase of disinvestment. Share prices of Central Bank of India and Indian Overseas Bank increased ahead of privatisation talks. Rise In Share Prices Central Bank of…

Customers should obtain new IFSC codes since the existing ones will be active only till June 30, 2021. Syndicate Bank has informed its customers that from July 1, the IFSC codes of its branches will be disabled. The statement…

UPI, Card Payments Rise By Upto 18% In June: Signs Of Economy Revival In India? A positive sign for an improvement in the economy as nearly all payment modes including cash, cards and Unified Payments Interface (UPI) have witnessed a…

The uncertainty is due to the fact that the RBI, as the regulator, and LIC, as the major shareholder are involved as well. The govt has started floating Request for Proposals (RFP) as the process of privatising IDBI Bank gains speed. …

She explained that the move to privatise these banks is so that they could become bigger, citing SBI as an example.  The govt will bring in amendments to the Banking Regulations Act and Banking Law Act to move ahead with the…

The price of each device, manufactured by Mumbai-based Trackpoint GPS, ranges from Rs 18,000 to Rs 19,500. HDFC Bank will refund the commision it charged for GPS devices that came with auto loans to its auto loan customers. …

SBI, Axis, HSBC Supports Google Pay's Tokenized Payments With Debit/Credit Cards (How It Works?) On Wednesday, Google Pay announced to expand its cards tokenization feature in collaboration with Visa. The move is to add new banks…

Employees of BOM and IOB are allegedly looking out for new jobs in bigger banks like SBI. In her Union Budget speech on February 1, FM Niramala Sitharaman announced the government’s plan to conduct privatisation of two more public…

The RBI has said that this decision was made in light of rising costs of installing ATMs and their maintenance. The RBI has permitted banks to increase fees for ATM transactions.. It has set a cap of Rs 21 per transaction. The fees…

This is DBS Bank’s second consecutive win out of 30 domestic and international banks operating in India. DBS Bank has taken the top position in a list of the best banks in India, compiled by Forbes in partnership with market research…

The offers include a marginally higher interest rate on fixed deposits for a brief period of time. State-owned banks have started offering financial incentives in order to encourage vaccination. The offers include a…

This practice has been done in the past before some PSBs were consolidated. In an effort to trim the fat, two state-owned banks set to be privatised will likely offer a voluntary retirement scheme (VRS). About VRS The scheme is…

Banks have identified about 22 bad loans of the order of Rs 89,000 crore, to be transferred to the bad bank in initial phase. In the Union Budget 2021-22 meeting on February 1, Finance Minister Nirmala Sitharaman proposed setting up a…

Govt hopes to raise around Rs 1.75 lakh crore from the privatisation program and LIC’s public listing. Central Bank of India and Indian Overseas Bank (IOB) will be the next in the Union Budget’s privatisation drive to be sold off to…