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Banks News

06 Oct 2024

FM Sitharaman Meets G20 Expert Prof Stern On Strengthening Multilateral Banks

During the meeting, Finance Minister Sitharaman shared updates on the World Bank's Evolution Agenda, which is actively considering 27 of the 30 recommendations put forth by the G20 Independent Expert Group.

10 Aug 2024

Bank Holidays In August 2024: Are Banks Open Or Closed Today?

As per the Reserve Bank of India (RBI), banks will remain closed for regional and national holidays but depending on the state of residence.

24 Jul 2023

Banks Need To Deal With Poor Loan Defaulters In Sensitive, Humane Way: FM

There have been instances of representatives of banks even indulging in physical violence while trying to recover loan instalments.

16 Jul 2023

Credit Card Spending Hits Record High At Rs 1.4 Lakh Crore In May: RBI

Similarly, the number of cards in use has also jumped by more than 5 million since January and crossed 87.4 million in the reporting month, making this also an all-time high in May, according to the RBI data. Of the new additions, as much as 2 million were used in the first two months of the current fiscal alone.

20 May 2023

RBI To Take Action On Unclaimed Money In Banks’ Accounts, FDs From June 1

RBI will launch '100 Days 100 Pays' campaign to remove unclaimed deposits in the banking system. Unclaimed deposits refer to balances in savings or current accounts that have been inactive for a period of 10 years. Beginning on June 1, 2023, banks will commence their participation in the '100 Days 100 Pays' campaign.

19 May 2023

What Will Happen If A Bank Refuses To Exchange / Accept Deposit Of ₹2000 Note?

RBI has announced to wtihdraw Rs 2000 denomination notes from circulation. It has requested banks to exchange/ deposit Rs 2000 notes from May 23, 2023.

18 Apr 2023

ATM Franchise Business: Get Rs 70,000 Monthly Income By Investing Rs 5 Lakh

With the help of a one-time investment and a third-party business opportunity called ATM-Franchise, you can start earning a respectable monthly income.

04 Apr 2023

ATM Franchise Biz Idea: Earn Up To Rs 70,000 Per Month By Investing Rs 5 Lakh

For the installation of ATMs in India, the majority of banks have agreements with Tata Indicash, Muthoot ATM, and India One ATM.

18 Mar 2023

'Treat Customer As God': MoS Finance To Banks

With regard to Kisan Credit Card (KCC), he urged banks, including BoM for expanding the reach of the KCC scheme to more farmers and ensure time-bound saturation.

28 Feb 2023

Earn Up To Rs 70,000 Per Month By Investing Rs 5 Lakh Once

ATM-Franchise is a third-party business opportunity that gives you an opportunity to earn a handsome monthly income by spending a one-time amount.

bank holidays 2023

21 Feb 2023

Bank Holidays 2023: Banks to be Closed for 12 Days in March, Check Full List

Check full RBI list of banks holidays in March. he operations of banks will be affected for 12 days in March 2023. It includes the holidays on Sundays as well.

22 Jan 2023

Budget 2023: Govt may not announce capital infusion for PSU banks in Budget

The government last provided capital support to banks in 2021-22. It had earmarked Rs 20,000 crore for recapitalisation of PSBs through supplementary demands for grants.

15 Jan 2023

India lets banks to use face recognition, iris scan for some transactions

Indian govt is allowing banks to verify individual transactions that exceed a certain annual limit using facial recognition and an iris scan in some cases. It is in a bid to reduce fraud and tax evasion. Indian government is allowing banks to verify individual transactions that exceed a certain annual limit using facial recognition and an iris scan in some cases.

06 Jan 2023

No need to visit bank to update KYC if you have done this, RBI said THIS

Bank account holders are no longer required to visit their bank branches to update 'know your customer' (KYC) details provided they have already submitted valid documents. Banks are required to provide an acknowledgment of the receipt of the KYC documents / self-declaration submitted by the customer. A new KYC process is needed if KYC documents available in bank records do not conform to the present list of officially valid documents.

24 Dec 2022

New Bank locker rules from Jan 1, 2023; Check important guidelines for locker

Banks provide locker options to customers to deposit their assets like jewellery, gold, more. When a customer is provided a locker, the bank and the customer in question enter into an agreement on a stamp paper. Locker renter has to pay stipulated amount to bank monthly or yearly.

18 Dec 2022

Banks looking at possibility of rupee trade with Bangladesh, African nations

Banks lookin to start rupee trade with Bangladesh and African countries like Egypt. Union Bank of India has opened a special rupee account of Ros Bank Russia. Another Russian bank Gazprombank, which does not have its branch in India, has also opened this account with Kolkata-based UCO Bank.

27 Nov 2022

Cumulative recovery rate under insolvency resolution falls to 30.18 pc in Sept

The overall recovery rate implies a haircut of around 70 per cent for the lenders. The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in implementing the Insolvency and Bankruptcy Code (IBC). The cumulative recovery rate has been on a downtrend.

04 Dec 2022

Invest Rs 5 lakh once, earn up to Rs 70,000 per month sitting at home

You can earn up to Rs 70,000 by just renting out your space for ATM You can apply online to ATM contractor firms to get an ATM installed You need to have Rs 5 lakh besides a space of 50-60 sq ft

Integrated Ombudsman Scheme

29 Oct 2022

Register your complaint against bank or its staff to RBI with THESE steps

RBI's Integrated Ombudsman Scheme provides a window to register complaints against Banks or financial institutions. Customers can register complaints here if Bank or NBFC doesn't hear the grievances or not satisfied. You have to visit https://cms.rbi.org.in website to register online complaint.

17 Oct 2022

PM Modi to inaugurate 75 digital banking units (DBUs) on October 16

PM Modi will inaugurate 75 digital banking units (DBUs) of different banks across the country. Two of which are in Jammu & Kashmir. DBUs will be brick and mortar outlets which will provide a variety of digital banking facilities to people

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