Alternative investments and substantial cash holdings in the...
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Banks must use UPI to create more digital opportunities to empower millions: FM Sitharaman
Nirmala Sitharaman, Union Finance Minister As banks benefit from...
AU Small Finance Bank and Niva Bupa join hands to offer health covers
AU Small Finance Bank, the country's largest small finance bank...
EMI moratorium fraud: banks asking customers to be alert, not to share OTP with imposters
Asking customers to protect their financial details, Axis Bank said in an e-mail to customers said fraudsters have started a new modus operandi to gain access to banking details.Imposters may contact you to help postpone your EMI payments and request you to share OTP, CVV, password or PIN related to your banking accounts, it said.
“Stay aware! If the details are shared, the fraudster can have unwarranted access to your banking information leading to financial loss. Beware of EMI Moratorium Frauds!,” Axis Bank said.
RBI says coronavirus has ‘drastically altered’ India’s growth outlook
“While efforts are being mounted on a war footing to arrest its spread, COVID-19 would impact economic activity in India directly through domestic lockdown. Second round effects would operate through a severe slowdown in global trade and growth,” the central bank said.
Merging PSBs can continue their existing bancassurance partnerships for a year:IRDAI
Punjab National Bank (PNB) has absorbed Oriental Bank of Commerce and United Bank — which makes it India’s second-largest bank after State Bank of India (SBI).Similarly, Syndicate Bank merges with Canara Bank, Union Bank of India absorbs both Andhra Bank and Corporation Bank. Indian Bank and Allahabad Bank’s merger also comes into effect from April 1
Govt directs banks to remain operational during 21-day lockdown: Report
“It is very crucial and critical to keep banking channels open and make sure that branches and banking correspondents function throughout the lockdown period, so that people do not face any hassles or problems in their financial transactions,” said a March 27 government order
Mega merger of state-run banks comes into force from April 1, says RBI
As per the scheme, Oriental Bank of Commerce and United Bank of India will be merged into Punjab National Bank; Syndicate Bank into Canara Bank; Allahabad Bank into Indian Bank; and Andhra and Corporation banks into Union Bank of India
Under this, the branches of Oriental Bank of Commerce and United Bank of India will operate as branches of Punjab National Bank from April 1, 2020, and branches of Syndicate Bank as that of Canara Bank, the RBI said in a separate releases.
Repayment moratorium covers all loans, including credit card dues: RBI
Term loans and working capital facilities include all term loans (including agricultural term loans, retail and crop loans), all commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India financial institutions, and NBFCs (including housing finance companies) are permitted to grant a moratorium of three months on payment.
Yes Bank moratorium to be lifted on March 18 : RBI governor
RBI governor said the Reserve Bank of India’s monetary policy committee will decide if a rate cut is needed to help the economy facing the coronavirus outbreak.
RBI asks state govts not to move deposits out of pvt banks; says money is safe
“We strongly believe that such a move can have banking and financial sector stability implications,” the RBI wrote. “We feel that apprehension on the safety of deposits in private sector banks is highly misplaced and will not be in the interest of stability of the financial system in general and the banking system in particular.”
AI has helped double the average employee tenure in banking sector: Survey
AI also improved the human resource business partners’ productivity by 40 per cent. This included a reduction in time spent on manually collecting, collating, and analysing employee feedback.
Yes Bank may see normal operations by Friday, says Administrator
Mumbai: India's Yes Bank will not be merged with State Bank of India, which is set to infuse funds in the beleaguered lender, the newly appointed administrator leading the rescue plan said in a television interview on Monday. "There is...