Banking

Recently, CitiBank has decided to quit the Indian market. This exit of the giant has created an opportunity particularly for those domestic private banks that are looking to scale up their credit card business. Meanwhile, SBI cards,…

Ongoing deliberations are concerned with the repealment of Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980 (nationalisation Acts). The government will be making amendments to laws in order to move…

SBI accumulated Rs 300 Cr in service charges imposed on withdrawals by Zero-Bal accounts IIT Bombay professor Ashish Das has done a study which revealed that SBI along with other banks has accrued Rs 300 cr over 5 years between 2015-20…

Cash withdrawals (to a limit) are also now permitted from non-bank wallets or PPI issuers in what Das calls a confidence- building measure. The RBI has made interoperability mandatory in a move that would bring digi wallets on par…

All Bank Employees Should Be Vaccinated On Top Priority: Finance Minister Requests Govt Once again, the Indian bank employees have approached the Centre, demanding free COVID-19 vaccine jabs being the part of frontline workers. …

Approximately 4.5 lakh such transactions were affected Customers looking to make online payments were hit by system failure, due to which the transaction was halted, leading to money not being able to go through to and from another…

Bank unions threaten to conduct more strikes, shall the government not drop the privatization process. On March 15 and 16, about 10 million bank employees participating from nearly 9 bank unions conducted a two-day bank strike, in…

SBI users face problem accessing the internet banking portal, YONO app and UPI transactions on Thursday. Customers of the country’s biggest lender, State Bank of India (SBI) sought to Twitter on Thursday, to complain about problems…

Taxpayers must heed the following updates as announced in this year's Union Budget As the financial year draws to a close today, so does the deadline for completing important tax related activities. There are some changes to the…

All the changes in banking services you must know before April 1, 2021. In the massive consolidation drive of August 2019, ten public sector banks were merged into four, bringing down the total count from 27 to 12. While bank…

Account holders of 8 Public Sector Banks going in for a merger need to beware of potential complications. Account holders of 8 Public Sector Banks going in for a merger need to beware of potential complications. The concerned…

NPCI has limited third-party application providers to 30% of market share of all transactions processed via UPI. National Payments Corporation of India (NPCI) has limited third-party application providers (TPAPs) to 30% of market share…

Banks will approach the government to cover the costs of compound interest waivers. The figure is estimated to be around Rs 7,500 crores. Banks will approach the government to cover the costs of compound interest waivers. The figure…

Biden Administration has proposed an 18-month delay in the effective date of a final rule on the popular H-1B visas The Biden Administration has proposed delaying the implementation of the previous Trump regime's controversial rule to…

Supreme Court passes judgement on the best interests of banks and loan borrowers, on the issue of waiving interests on EMI during the loan moratorium period. On Tuesday, a finalized decision came from the Supreme Court, in regards to…

Children Of H1B Visa Holders Will Now Become American Citizens Without Waiting For Years (But How?) Recently, two key bills have been passed by the US House of Representatives creating a pathway to citizenship, like those under the H-1B…

1.14 Lakh LIC Employees Protest Against Privatisation; Massive Strike On This Date LIC employees have declared a single day strike across the country effective from today. They are demanding that the Centre recall its disinvestment…

FM Nirmala Sitharaman responds to the two-day bank strikes and insists the importance of bank privatisation. Finance Minister Nirmala Sitharaman has responded to the two-day bank strike, held on March 15 and 16 by 9 bank unions, as a…

Nationwide bank strike for two days, March 15 and 16. In response to the Finance Minister’s Union Budget (2021) announcement of privatisation of two more public sector banks, the bank union body United Forum of Bank Unions (UFBU) has…

The government will make amendments to Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 to ease its privatisation bids for its public…