The Reserve Bank of India (RBI) on Tuesday said it has decided to penalise banks for failure to timely replenish currency notes in ATMs. The move comes amid worries of frequent non-availability of cash in ATMs.
Out of 15 days when banks will remain closed in the month of July, 9 of them will be regional offs which means not all banks in all states will remain closed rather it will be a region-wise holiday.
The Reserve Bank of India on Wednesday imposed a total penalty of Rs 8 lakh on three Maharashtra-based co-operative banks for deficiencies in regulatory compliance.
Reserve Bank of India (RBI) on Thursday asked banks to closely monitor their bad loans and prepare themselves for higher provisioning in the wake of second COVID wave and the Supreme Court order lifting the ban on classification of non-performing assets.
The Reserve Bank on Monday came out with modified guidelines that allow sound private sector banks to undertake government business, whether at the Centre or in states.
The Reserve Bank has decided to review and strengthen the Risk Based Supervision (RBS) of the banking sector with a view to enable financial sector players to address the emerging challenges.
In a major reform step, the Reserve Bank of India (RBI) has capped the tenure of bank MD and CEOs with immediate effect.
Among other things, the respondents will be asked whether the merger was positive from the point of customer services.
The government on Wednesday reduced interest rates on small savings including PPF, one-year time deposit, senior citizen savings schemes. The changes will be effective from April 1, 2021.
Banks will conduct special clearing operations for annual closure of government accounts on March 31, which is the last day of the current fiscal year, the RBI has said.
The RBI had issued guidelines for 'on tap' licensing of universal banks in the private sector in August 2016 and guidelines for 'on tap' licensing of small finance banks in the private sector in December 2019.
Amid bank strike over the proposed privatisation of the public sector banks, Union Minister Nirmala Sitharaman on Tuesday said not all banks are going to be privatised adding the interests of the employees will be taken care of.
The Reserve Bank on Monday asked banks to implement the image-based Cheque Truncation System (CTS) in all branches by September 30, a move aimed at faster settlement of cheques resulting in better customer service.
United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16, and claimed that about 10 lakh bank employees and officers of the banks will participate in the strike.
Banking services in the country could be affected on Monday and Tuesday amid a nationwide strike of bank unions against the proposed privatization of two state-owned lenders.
Finance Minister Nirmala Sitharaman on Sunday said the government will work with the Reserve Bank for execution of the bank privatisation plan announced in the budget.
The RBI recently decided to put in place a comprehensive framework for grievances redressal.
The RBI on Monday said it has imposed a total penalty of Rs 7 lakh on two co-operative banks, including Rs 5 lakh on Vyavasayik Sahakari Bank Maryadit, for violation of KYC and other norms.
All India Bank Officers' Confederation (AIBOC) General Secretary Soumya Datta said the union has expressed its solidarity with farmers but will not be participating in the Bharat Bandh called by them.
With the call of a nationwide strike by central trade unions on Thursday, banking operations could be hit. The strike, to be observed by ten central trade unions except Bharatiya Mazdoor Sangh, will also be joined by some bank unions.
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