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News Category : Banking

Bharatiya Mahila Bank to be merged with State Bank of India to ensure greater banking services
Posted Date : 21-Mar-2017 , 07:42:25 am | Posted By CASANSAAR

  Bharatiya Mahila Bank (BMB) to be merged with State Bank of India (SBI) to ensure greater banking services outreach to a larger number of women, at a faster pace    Union Government is committed to enhance the access to financial services to the population at large and...

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Category : Banking | Comments : 0 | Hits : 164

ICICI Bank, SBI saw most frauds in first 3 quarters
Posted Date : 13-Mar-2017 , 07:52:58 pm | Posted By CASANSAAR

As many as 455 fraud cases involving Rs one lakh and above were recorded in ICICI Bank between April 2016 to December 2016, data received from the Reserve Bank of India has showed. While ICICI topped the list of banks that have witnessed frauds, State Bank of India came second with 429 such cases, a...

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Category : Banking | Comments : 0 | Hits : 357

CBI books DGM and AGM of Union Bank of India for fraud
Posted Date : 08-Mar-2017 , 07:58:42 am | Posted By CASANSAAR

The Central Bureau of Investigation has registered a case against a Deputy General Manager (DGM) and the Assistant General Manager (AGM) of Union Bank of India in Mumbai and three directors for alleged violation of RBI guidelines during demonetisation. Additionally, proprietors of a private firm ...

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Category : Banking | Comments : 0 | Hits : 673

SC seeks reply of Centre, RBI on exchanging demonetised notes
Posted Date : 07-Mar-2017 , 07:43:30 am | Posted By CASANSAAR

The Supreme Court has questioned the Centre and the RBI on a plea made by petitioner, Sharad Mishra.   The plea brought in focus the allegation that people were not allowed to deposit the old currency notes of 500 and 1000 in the specified RBI branches.   The Supreme Court bench, heade...

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Category : Banking | Comments : 0 | Hits : 572

Govt warns banks over non-acceptance of PMGKY tax
Posted Date : 27-Feb-2017 , 07:42:18 am | Posted By CASANSAAR

The Government has warned banks of “de-authorisation” of branches if they refuse to accept taxes under the amnesty scheme PMGKY, which ends on March 31. The Finance Ministry, in a communication to heads of banks which are authorised to accept deposits under the Pradhan Mantri Garib Ka...

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Category : Banking | Comments : 0 | Hits : 269

Bank Unions call for strike on 28th Feb.
Posted Date : 27-Feb-2017 , 07:37:35 am | Posted By CASANSAAR

Operations at public sector banks are likely to be disrupted on Tuesday as nine unions under the aegis of United Forum of Bank Unions (UFBU) have called for a strike to press for various demands, including top executives’ accountability in view of mounting bad loans in the sector.Most of the b...

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Category : Banking | Comments : 0 | Hits : 449

CA Sunil Mehta appointed non-executive Chairman of PNB
Posted Date : 18-Feb-2017 , 08:36:15 am | Posted By CASANSAAR

Punjab National Bank (PNB) has a new non-executive Chairman in CA.Sunil Mehta. The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services (DFS) for the appointment of Mehta as non-executive Chairman of PNB, official sources said. He has be...

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Category : Banking | Comments : 0 | Hits : 263

Eight Executive Directors appointed in various Banks
Posted Date : 18-Feb-2017 , 08:26:46 am | Posted By CASANSAAR

Eight Executive Directors (EDs) have been appointed in various public sector banks on the recommendations of Banks Board Bureau. Neelam Damodharan and Atanu Kumar Das have been appointed as EDs in Bank of India. Damodharan is General Manager in Bank of Baroda and Das is GM in Vijaya Bank. K Sw...

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Category : Banking | Comments : 0 | Hits : 582

RBI to banks: Be quick to identify and declare fraudulent borrowers
Posted Date : 03-Feb-2017 , 08:17:08 am | Posted By CASANSAAR

Flagging instances of loan exposures getting seasoned as non-performing assets (NPAs) for three to four years before borrowers were declared as fraudulent, the Reserve Bank of India has called upon bankers to identify and declare loan accounts as fraud without wasting time. During FY16, advances-...

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Category : Banking | Comments : 0 | Hits : 270

Rs5,583 crore withdrawn from Jan Dhan accounts in a month post note ban
Posted Date : 31-Jan-2017 , 09:38:09 am | Posted By CASANSAAR

Jan Dhan accounts have witnessed net withdrawal of Rs5,582.83 crore since 7 December, the day deposits in these accounts soared to all time high in the backdrop of demonetisation. Total deposits in Jan Dhan accounts had increased to a record high of Rs74,610 crore on 7 December and thereafter, it...

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Category : Banking | Comments : 0 | Hits : 158

Tax to be levied on cash transaction over Rs 50,000
Posted Date : 25-Jan-2017 , 07:33:40 am | Posted By CASANSAAR

In an effort to discourage cash transactions throughout the country, the Chief Minister Sub Committee on Digital Payment today recommended to levy banking cash transaction tax (BCTT) on withdrawal of Rs 50,000 from banks. The committee-headed by Andhra Pradesh Chief Minister N Chandra Babu Naidu ...

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Category : Banking | Comments : 0 | Hits : 1796

Cabinet approves Short term market borrowing by NABARD for on lending to Cooperative Banks
Posted Date : 24-Jan-2017 , 09:55:13 pm | Posted By CASANSAAR

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its post-facto approval for the following decisions:                        i.        National Bank for Agriculture & Rural Development (...

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Category : Banking | Comments : 0 | Hits : 163

CBI arrests former IDBI Chairman in Vaijay Mallya loan default case
Posted Date : 23-Jan-2017 , 10:19:25 pm | Posted By CASANSAAR

Central Bureau of Investigation (CBI) has arrested former IDBI chairman in Vijay Mallya loan default case, according to sources. Four executives of Kingfisher Airlines and three more former executives of IDBI Bank were also arrested by CBI, according to reports.  Earlier in the day, in a dev...

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Category : Banking | Comments : 0 | Hits : 314

NSDL to seek final RBI go-ahead for payments bank
Posted Date : 21-Jan-2017 , 09:52:17 am | Posted By CASANSAAR

The leading depository NSDL on Friday said it will be applying "very soon" for the final licences to launch a payments bank and hopes to roll out the new entity over the next three months. "We have complied with all the requirements for the final licence and will be making the fina...

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Category : Banking | Comments : 0 | Hits : 144

Toll Free Helpline - 14444 for digital payments launched
Posted Date : 05-Jan-2017 , 08:38:24 am | Posted By CASANSAAR

The government, in collaboration with telecom and IT industry, has launched a toll-free helpline - 14444 - to address consumer queries on digital payments. The helpline will address questions regarding various platforms, including the newly-launched Bharat Interface for Money (BHIM), eWallets, Aa...

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Category : Banking | Comments : 0 | Hits : 440

RBI permits Paytm to launch its Payments Bank
Posted Date : 04-Jan-2017 , 08:49:39 am | Posted By CASANSAAR

Paytm Payments Bank, owned by One97 Communications and its founder Vijay Shekhar Sharma, received an approval to formally launch its services from the Reserve Bank of India (RBI), Sharma said in a blog post on Tuesday. A company official informed that the payments bank is expected to be launched by ...

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Category : Banking | Comments : 0 | Hits : 383

SBI pushes merger of 5 associate banks, Bharatiya Mahila Bank to next fiscal
Posted Date : 04-Jan-2017 , 08:40:50 am | Posted By CASANSAAR

SBI Chief Arundhati Bhattacharya has hinted that the mega merger of its five associate banks and Bharatiya Mahila Bank could be pushed to the next financial year as it is still awaiting the government notification in this regard.  Ms. Bhattacharya said undertaking the merger process in the l...

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Category : Banking | Comments : 0 | Hits : 314

Supreme Court asks Centre to give details of recovery cases filed by banks
Posted Date : 03-Jan-2017 , 10:27:45 pm | Posted By CASANSAAR

The Supreme Court today asked the Centre to give details of recovery cases filed by banks and financial institutions and those pending in debt recovery tribunals and their appellate bodies for the last ten years. A bench headed by Chief Justice T S Thakur also sought a response on the question as...

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Category : Banking | Comments : 0 | Hits : 178

Rs 3,285 Cr withdrawn from Jan Dhan a/cs in last 15 days
Posted Date : 01-Jan-2017 , 10:20:57 pm | Posted By CASANSAAR

Jan Dhan accounts witnessed net withdrawal of Rs 3,285 crore in the last fortnight after a huge surge in deposits post demonetisation in November. Total deposits increased to a record high of Rs 74,610 crore for the week ended December 7 and thereafter, it started gradual decline to close at Rs 7...

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Category : Banking | Comments : 0 | Hits : 324

SBI, PNB, UBI cuts lending rate by up to 90 bps
Posted Date : 01-Jan-2017 , 10:19:04 pm | Posted By CASANSAAR

Top PSU lenders State Bank, Punjab National Band and Union Bank today slashed their benchmark lending rates by up to 90 basis points. The country's largest lender, SBI, in a statement said, it has reduced marginal cost of funds based lending rate (MCLR) by 0.9 per cent from 8.90 per cent to 8...

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Category : Banking | Comments : 0 | Hits : 296

Cash withdrawal limit from ATMs increased to Rs 4,500 per day
Posted Date : 31-Dec-2016 , 08:27:04 am | Posted By CASANSAAR

In a major relief for the common man, Reserve Bank of India (RBI) increased the daily limit of ATM withdrawal to Rs 4500 from current Rs 2500 with effective from January 1, 2017.  RBI in a notification issued has said that there has been no change in the weekly withdrawal limit, which stands...

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Category : Banking | Comments : 0 | Hits : 227

President approves promulgation of Specified Bank Notes Ordinance, 2016
Posted Date : 31-Dec-2016 , 08:26:05 am | Posted By CASANSAAR

President Pranab Mukherjee on Friday gave his assent for the promulgation of the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016. The Union Cabinet had earlier approved the ordinance. It provides for making holding of old 1,000 and 500 rupee notes after 31st of March next year a o...

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Category : Banking | Comments : 0 | Hits : 220

Currency worth Rs 5.92 lakh crore issued since demonetisation
Posted Date : 21-Dec-2016 , 08:48:10 pm | Posted By CASANSAAR

The Reserve Bank today said banks have issued currency worth over Rs 5.92 lakh crore to the public since the demonetisation of old high value notes last month. The central bank also said that it has issued 2.2 billion (220 crore) pieces of notes of new Rs 500 and Rs 2,000 during the period -- Nov...

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Category : Banking | Comments : 0 | Hits : 171

RBI to issue new Rs 500 note with inset letter in new series
Posted Date : 21-Dec-2016 , 08:12:57 am | Posted By CASANSAAR

The Reserve Bank of India, RBI will shortly issue 500 rupee banknotes in Mahatma Gandhi New series with the inset letter E having star mark in the number panel.  The banknote will bear the signature of RBI Governor Dr Urjit R. Patel, year of printing 2016 and Swachh Bahrat Logo. In a stat...

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Category : Banking | Comments : 0 | Hits : 423

Old notes worth more than Rs 5000 can be deposited only once per account until Dec 30
Posted Date : 19-Dec-2016 , 10:00:30 pm | Posted By CASANSAAR

The Reserve Bank today imposed stiff restrictions on depositing more than 5,000 rupees in the scrapped 500 and 1,000 rupees notes. The bank said, it can be deposited only once per account till December 30th, that too after explaining to bank officials the reasons for not having done that so far. ...

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Category : Banking | Comments : 0 | Hits : 487

Under pressure, banks hand over scrutiny to their Auditing firms
Posted Date : 19-Dec-2016 , 08:59:33 am | Posted By CASANSAAR

UNDER PRESSURE from the RBI and the Finance Ministry’s Department of Financial Services (DFS), following multiple seizures of high-value notes and arrests of employees, several banks have asked hundreds of chartered accountants engaged in the concurrent audit of their branches to carry out add...

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Category : Banking | Comments : 0 | Hits : 1270

Govt to release app for Aadhaar-linked e-payments soon
Posted Date : 17-Dec-2016 , 12:05:11 pm | Posted By CASANSAAR

Government will soon launch a mobile application to facilitate Aadhaar-linked digital payments and roll out a nation-wide programme to train over 1 crore people on e-payments. "We are going to promote Aadhaar-enabled payment system (AEPS) in coordination with Finance Ministry. About 40 crore...

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Category : Banking | Comments : 0 | Hits : 275

Delhi Police seize Rs 13.56 crore cash from lawyer's office in Delhi
Posted Date : 12-Dec-2016 , 05:24:06 pm | Posted By CASANSAAR

Delhi police have seized nearly Rs 13.56 crore in a raid at a law firm in southeast Delhi's GK-I area, of which Rs 2.6 crore is in new currency released after demonetisation, a senior police official said on Sunday. The raid was carried out by Crime Branch at the office of T&T law firm la...

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Category : Banking | Comments : 0 | Hits : 497

Govt announces several incentives on payments through digital modes
Posted Date : 09-Dec-2016 , 07:56:15 am | Posted By CASANSAAR

Government announced several incentives on payments made through digital modes. Addressing media in New Delhi, Union Finance Minister Arun Jaitley said, petroleum companies will offer a discount of 0.75 percent on diesel and petrol to consumers who pay through digital means. Mr Jaitley also said,...

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Category : Banking | Comments : 0 | Hits : 451

Auditors of 50 Bank Branches are under Examination
Posted Date : 08-Dec-2016 , 08:53:14 am | Posted By CASANSAAR

On the heels of allegations of bank officials being involved in largescale money laundering across the country, the Enforcement Directorate is examining the documents of at least 50 bank Branches to determine if there is any truth in the charges. Sources said the banks on the list have seen the l...

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Category : Banking | Comments : 0 | Hits : 4401

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