If the Reserve Bank of India has its way, you could soon shift your account from one bank to another without going through the hassle of extensive paperwork and managing different accounts at as many banks
WannaCry has shuttered or slowed many operations across the world. But its impact in India was hardly seen
In a bid to promote cashless transactions in the country, the Reserve bank of India (RBI) has given banks the freedom to fix bank service charges for transactions, Minister of State for Finance Santosh Kumar Gangwar said on Friday.
Employees of some banks indulged in the illegal exchange of scrapped currency notes worth Rs 71.5 crore following the government’s decision to demonetise certain high-value currency notes on November 8, the government informed Parliament today.
Since December 7, Jan Dhan accounts have witnessed a net withdrawal of Rs 5,582.83 crore. Total deposits had increased to a record high of Rs 74,610 crore on December 7 and thereafter, it saw a
The Income Tax Department has written to the RBI informing it about alleged illegal malpractices being deployed by a number of cooperative banks after its probe found "serious" difference in accounts, to the tune of
Banks are likely to increase ATM orders and manufacturing is set to get a fillip in 2017, say the ATM companies.
The public sector banks (PSBs) will need equity worth Rs 1.7 lakh crore by March 2019, which can turn out to be higher on an increased credit growth, a recent Assocham-Crisil joint study has revealed.
Weak asset quality will continue to plague credit profile of banks, with their profitability remaining under pressure till the next fiscal, credit rating agency Moody's has said in its latest report.
In its latest attempt to spot and eliminate tax evaders, the government today asked banks to obtain permanent account number (PAN) or Form-60 if PAN is not available, from all bank account holders by February
The respite promised by PM Narendra Modi after December 31 still seems far off as banks in several parts of Saurashtra continued to face a cash crunch and had to tackle the customer’s ire.
The Reserve Bank of India (RBI) has asked banks for details of cash deposits in demonetised currency notes since the decision was announced on November 8. In a notice issued by the RBI, banks have
The government has said that deposits totalling Rs 7 lakh crore were made by some 60 lakh individuals and companies following the announcement to demonetize high-valu currency notes on November 8. The government has also
The government’s crackdown on black money hoarders continues with the Enforcement Directorate writing to four banks, accusing their officials of helping a Mumbai-based bullion trader get Rs 150 crore in demonetised currency into legal tender
As currency printing presses and the Reserve Bank of India have not been able to keep up with the demand of new currency notes, restrictions on withdrawal of cash from banks and ATMs are likely
Following the RBI’s circular to banks exempting KYC-compliant accounts from scrutiny even if the deposited amount exceeded Rs 5000, banks today began accepting the junked Rs 500 and Rs 1000 notes without any questions. With
With no end to the lack of promptly accessible cash and long queues of people looking to exchange notes, Andhra Pradesh Finance minister Yanamala Ramakrishnudu has said that the government’s decision to scrap Rs.500 and
As part of its ongoing efforts to promote digital transactions in the country, the government on Wednesday asked all public sector banks to bring down the charges for different types of electronic payments up to
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