September 01, 2014 23:44 (IST)
The Reserve Bank of India (RBI) on Monday said a bank account will not become inoperative if a dividend cheque has been credited in it in the previous two years.
September 01, 2014 22:19 (IST)
As many as 5.27 lakh basic savings bank deposit accounts have been opened in Andhra Bank branches across the country as a part of the 'Pradhan Mantri Jan Dhan' financial inclusion scheme.
September 01, 2014 21:20 (IST)
The Reserve Bank of India (RBI) has asked lenders to give specific timelines on loan disbursal to ensure faster implementation of projects, while asking banks to maintain a monitoring mechanism to check any delays.
September 01, 2014 14:57 (IST)
As Prime Minister Narendra Modi sought greater investments from Japan, financial sector giant Nippon Life said on Monday that it will partner Anil Ambani-led Reliance Group for a proposed 'Reliance Bank' and launched two India-focussed funds for Japanese investors.
August 31, 2014 20:18 (IST)
Banks' non-food credit rose 12.6 per cent year-on-year in July to Rs 56,17,500 crore from Rs 49,89,400 crore in the year-ago period.
August 31, 2014 18:14 (IST)
The Finance Ministry has asked state-owned Life Insurance Corporation (LIC) to submit details on structuring the Rs 30,000 life cover to be offered under the Jan Dhan Yojana, unveiled by Prime Minister Narendra Modi on August 28.
Written By: Devika Singh | August 30, 2014 18:04 (IST)
Banks are rolling out attractive offers to woo customers in a bid to cash in the upbeat sentiment during the upcoming festive season. Bankers say demand for consumer loans has started to grow since the formation of a strong government at the Centre in May.
Chennai | August 30, 2014 16:32 (IST)
For deposits of two years and above but less than three years, interest rates have been revised to 2.71 per cent from the existing 2.76 per cent.
August 30, 2014 11:45 (IST)
When the stakes are so high, it is bound to affect us, we do get nervous, but also excited at the same time because buying a home is a big achievement too.
August 29, 2014 22:11 (IST)
Over 1.84 crore bank accounts have been opened under the 'Jan Dhan Yojana' and banks will organise camps from 8 am to 8 pm on all Saturdays to reach out to unbanked households, a Finance Ministry statement said on Friday.
August 29, 2014 15:44 (IST)
State-owned United Bank of India (UBI) has filed a caveat in the Supreme Court against Kingfisher Airlines (KFA) shortly after the judgement of the Calcutta High Court division bench was delivered on Thursday.
August 29, 2014 14:29 (IST)
The Reserve Bank of India (RBI) could cut policy rates by 75-100 basis points starting early 2015 even if the Federal Reserve hikes rates next year, Bank of America Merrill-Lynch has said in a report.
August 28, 2014 22:05 (IST)
The case comes hard on the heels of an alleged more than Rs 400 crore fraud at branches of state lenders Dena Bank and Oriental Bank of Commerce, which authorities are investigating separately.
August 28, 2014 20:14 (IST)
If successful, the scheme could help mend strained state finances by better targeting crores of rupees in welfare spending as well as relieving poverty in a country where about 40 percent of the population has no access to banking.
August 28, 2014 17:12 (IST)
The written test is the first step in the recruitment of SBI probationary officer, which will be followed by group discussion and personal interview.
August 27, 2014 23:28 (IST)
The Reserve Bank of India (RBI) on Wednesday eased norms to refinance external commercial borrowings (ECB) and allowed banks to approve even those cases where the average maturity period (AMP) of fresh borrowings exceeds residual maturity of existing loan.
August 27, 2014 21:47 (IST)
Prime Minister Narendra Modi will promise on Thursday to provide a bank account for every Indian household when he launches a major initiative that could save billions of dollars in welfare spending and help mend strained state finances.
Mumbai | August 27, 2014 10:17 (IST)
The postal department has taken the first step towards this and 25,000 of its outlets are expected to be connected on the core banking platform by FY16.
August 27, 2014 09:34 (IST)
The alleged irregularity in Uco Bank comes at a time when state-run lenders are under tremendous pressure over corporate governance issues. Uco Bank is the fourth public sector lender where forensic audit has been ordered over the last couple of months.
August 27, 2014 09:33 (IST)
In developed nations, bank branches are everywhere. But banking services in India leave out nearly half the 1.2 billion population, putting poor people at the mercy of moneylenders who charge usurious interest for emergency loans for sickness or routine purchases such as buying seeds.