RBI Governor Shaktikanta Das on Friday announced a reduction in the Cash Reserve Ratio (CRR) of all banks by 100 basis points to 3% of Net Demand and Time Liabilities with effect from the fortnight beginning March 28 for a period of 1 year.
Coronavirus Lockdown: Banks in India are devising plans to work with minimum staff. According to the plan, a bank branch would be operational every 5 km in cities while banks in rural areas will operate alternate day, Reuters report claims.
The government on Thursday said the mega bank consolidation plan is very much on track and will take effect from April 1 despite the onslaught of coronavirus pandemic throwing the country out of gear.
Bank of Baroda said it has set up an emergency credit line to provide funds to its existing MSME and corporate borrowers impacted by the outbreak of coronavirus. This follows a similar additional funding facility announced by the country's largest lender State Bank of India for its borrowers, last week.
The outbreak of COVID-19 and continued slowdown in the economy are likely to have an impact on banks asset quality and may trigger a surge in gross non-performing assets (GNPA) ratio to 9.6 to 9.9 per cent by the second or third quarter of the next fiscal, says a report.
Amid coronavirus pandemic, the government has announced lockdown across 80 districts, including 16 districts, of Uttar Pradesh. The government has also suspended all non-essential services, including Railways, Metro till March 31. To simplify things for you, IndianTV News has compiled a list of services and facilities that will be functional and suspended during the lockdown.
Bank customers who are expecting the issuance of their new credit, debit cards after March 16 should know about a number of things that they will have to keep in mind while doing any type of transactions after 16th March.
Union Finance Minister Nirmala Sitharaman Wednesday said banks were not instructed to stop dispensing Rs 2,000 notes. The statement comes after Indian Bank decided to stop putting Rs 2,000 notes in its ATM machines.
People in Bengal's Burdwan are lining up outside ATMs after money ranging from Rs 3,000 - Rs 35,000 is transfered in their accounts from a 'mystery' source.
2G mobile internet in five districts of Jammu and broadband facility in all essential institutions have been restored today. Internet services have been suspended ever since the abrogation of Article 370 in August last year.
As the bad loan recognition process nears completion, the health of the banking system has improved with the gross non-performing loan ratio remaining stable at 9.1 per cent as of September-end, the same level as in FY19, according to the RBI.
Yes Bank shares tumbled over 5 per cent in morning deals on Friday, hit by ratings downgrade by Moody's Investors Service. The lender's shares were trading at 58.75 apiece, down 5.39 per cent on the BSE. Likewise, the stock dived 5.23 per cent to Rs 58.85 per unit on the NSE.
As its December month, the final phase of 2019 is underway. Just like every other month, banks will remain closed on public holidays in December too. So, One will have to plan in advance to ensure that they do not run out of cash in December. According to RBI, the banks will be closed for a total of 9 days in December 2019. Due to bank holidays, there may also be a shortage of cash in an ATM machine due to bank holidays.
On November 20, the Reserve Bank superseded the DHFL board and appointed an administrator and said it would begin bankruptcy process for the crippled company that owes close to Rs 90,000 to the system.
Sitharaman said if a financial institution in the present situation has a name ending with 'Bank' doubts are raised on the functioning of it and heaped praise that City Union Bank has been functioning steadily for the last 115 years.
Over 3,400 branches of 26 public sector banks (PSBs) have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query.
The Indian banking sector has witnessed a series of scams, including about Rs 14,000 crore fraud in Punjab National Bank and the recent PMC Bank crisis that affected lakhs of depositors. Besides, several large NBFCs have failed on their commitments to service their debt.
Describing her meeting with the bankers as a "tonic", Finance Minister Nirmala Sitharaman said on Thursday that there is no liquidity related problems being faced by the private sector lenders and the non-banking financial companies (NBFCs).
The Reserve Bank of India (RBI) on Wednesday debunked social media rumours on closing down certain commercial banks. It said such reports are false, emphasising that no commercial banks are going to be shut.
The two unions are All India bank Employees' Association (AIBEA) and Bank Employees Federation of India (BEFI).
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