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On November 20, the Reserve Bank superseded the DHFL board and appointed an administrator and said it would begin bankruptcy process for the crippled company that owes close to Rs 90,000 to the system.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).
"Tomorrow's PSB meeting will take up some of the key issues which relate to passing of low cost of borrowing and NPA settlement, doorstep banking and also the merger execution strategies to be taken up by the merging and anchor banks to iron out glitches," a source said.
All India Bank Employees' Association (AIBEA) General Secretary C.H. Venkatachalam told IANS that the UFBU has decided to a national dharna before Parliament on Sep 20 at 10.30 a.m.
Life in Jammu and Kashmir is slowly and steadily moving back to normal after restrictions were imposed following abrogation of Article 370 on August 5. According to news agency ANI, all telephone exchanges have been activated and landlines restored. Post paid mobiles too are functional in Kupwara district.
Recently, Finance Minister Nirmala Sitharaman announced the merger of 10 PSB Banks, and the news made existing customers concerned about their account numbers, branch and codes. We all know that when SBI got merged with its five associates, at that time SBI changed the IFSC codes and names of 1,300 branches, for the reason that each and every branch server is different. So, it’s obvious that if the banks merged you may get a new IFSC code.
Do you hold an account or more in one of the 10 Public Sector Banks in India that have been merged? If yes, then do read this article to find out how this big ticket bank merger is going to impact you.
Public sector bank stocks, led by Canara Bank, Union Bank and Punjab National Bank, tumbled up to 10.6 per cent on Tuesday after the government announced the merger of 10 state-run lenders into four.
Last week, the government announced consolidation of 10 public sector banks into four mega state-owned lenders, including merger of Allahabad Bank with Indian Bank.
Bank holidays in September 2019: All public and private sector banks in India remain closed on national holidays like--Independence Day, Christmas Day. However, the public holidays may differ from one bank to another or even from one state to another. In fact, there are state-wise bank holidays also. List of bank holidays given by RBI in September 2019: Here’s a complete list.
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