Robbers clean out 40 lockers at Jalandhar bank
Posted Date : 21-Jan-2013 , 08:50:06 am | Posted By CASANSAAR
Jewellery and cash were stolen from 40 lockers in a daring break-in at the Punjab and Sind Bank branch on Pathankot road. Robbers broke into the strongroom by cutting through the thick iron gate with a gas cutter and opened the lockers the same way. Notes of 1,000rupee denominati...
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FinMin finalises norms for new bank licenses, sends to RBI
Posted Date : 16-Jan-2013 , 09:42:12 am | Posted By CASANSAAR
The finance ministry has finalised norms for new bank licenses and has sent its comments to the Reserve Bank of India (RBI). Sources say the finance ministry has asked the RBI to delete the clause prohibiting realty and stock broking firm promoters from applying for bank licence. The ministry s...
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Bankers want RBI to allow interest on current accounts
Posted Date : 15-Jan-2013 , 09:25:23 am | Posted By CASANSAAR
Banks will ask the Reserve Bank of India to allow them to pay interest on current account deposits at tomorrow’s meeting, in the run up to the central bank’s monetary policy review.
Currently, banks don’t give interest on current accounts. Doing so, bankers believe, w...
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0 | Hits : 966
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FinMin to float cabinet note to set up holding co for PSBs
Posted Date : 12-Jan-2013 , 09:30:51 am | Posted By CASANSAAR
The finance ministry has taken the first step towards setting up a holding company for public sector banks and will float a cabinet note for this shortly. Most international banks are held by a holding company and in the Indian context; this will help the government with equity infusion.
...
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Govt approves Rs 12,200 cr re-capitalization programme for Public Sector Banks
Posted Date : 10-Jan-2013 , 01:59:31 pm | Posted By CASANSAAR
Government today approved 12,200 crore rupee recapitalisation programme for public sector banks.
The decision was taken in a Cabinet meeting held in New Delhi today.The recapitalisation programme has been undertaken with a view to redress the financial health of public sector banks.
&nbs...
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NBFCs have time till March to migrate to new standard cheques
Posted Date : 23-Dec-2012 , 08:12:14 pm | Posted By CASANSAAR
Borrowers from Non Banking Financial Companies (NBFC) now have time till 31 March 2013 to replace their old system bank cheques with new ones with added security features for their equated monthly instalment (EMI) payments, the Reserve Bank of India (RBI) said in a circular.
The banking regulator...
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Salient Features of Banking Laws (Amendment) Bill 2012
Posted Date : 21-Dec-2012 , 08:29:20 pm | Posted By CASANSAAR
The Banking Laws (Amendment) Bill 2011 was introduced in order to amend the Banking Regulation Act, 1949, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980. The said Bill has been passed by both the Houses of Parliament during its just concluded Winter Session. Thi...
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0 | Hits : 1427
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SBI plans online approval for home loans via Cibil
Posted Date : 21-Dec-2012 , 07:49:59 am | Posted By CASANSAAR
In a move that could improve its flow of home loans business, State Bank of India is putting in place an online sanction process which allows the bank to instantaneously approve loan amounts by linking its portal with Credit Information Bureau of India (Cibil).
...
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0 | Hits : 939
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Government Advises PSBs to take Number of Initiatives to increase the pace of Recovery and Manage NPAs
Posted Date : 20-Dec-2012 , 09:13:01 pm | Posted By CASANSAAR
The objective of restructuring is to conserve valuable financial assets in a downturn, revival of entities and ensuring safety of the funds lent by the banks. Although, the Gross Non-Performing Assets (NPAs) and restructuring of loans of Public Sector Banks (PSBs) have shown an increasing trend, at ...
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0 | Hits : 625
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Lok Sabha passes Banking Bill, clears way for new banking licenses
Posted Date : 18-Dec-2012 , 09:09:08 pm | Posted By CASANSAAR
The Lok Sabha today passed the Banking (Amendment) Bill, aimed at attracting more foreign investment into the banking industry in yet another move by Prime Minister Manmohan Singh to open up Asia's third-largest economy.
The Bill was passed after the government earlier today agreed to drop the cont...
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RBI keeps key rates unchanged in monetary policy review
Posted Date : 18-Dec-2012 , 11:24:45 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday kept key policy rates including the cash reserve ratio (CRR) unchanged. While the repo ratewas maintained at 8%, CRR was also maintained at status quo of 4.25%. D Subbarao maintained that risks to inflation ...
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0 | Hits : 738
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Public sector bank employees to strike work on Dec 20
Posted Date : 15-Dec-2012 , 07:34:02 pm | Posted By CASANSAAR
Employees of public sector banks will observe one-day country-wide strike on December 20 in protest against the government's move to place the Banking Law Amendments bill in the current session of Parliament. Addressing a press conference here, RA Singh, president of Jharkhand Pradesh Bank Employees...
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1 | Hits : 1082
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RBI extends deadline for issuance of new std cheques by 3 months
Posted Date : 14-Dec-2012 , 09:18:37 pm | Posted By CASANSAAR
Bank account holders can continue to use their old format cheques for another three months as RBI has extended the deadline for banks to issue new cheques with uniform security features till March next year.
The Reserve Bank in a notification today said, "Taking into consideration represent...
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0 | Hits : 1121
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Reserve Bank of India simplifies account opening norms
Posted Date : 11-Dec-2012 , 08:08:00 am | Posted By CASANSAAR
The Reserve Bank of India has made it easier to open new bank accounts by doing away with the need to provide separate proofs for identity and address. It has also added Aadhar letters and cards as well as the NREGA job card to the list of eligible documents of proof fo...
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RBI may hike NPA provision: Deputy governor
Posted Date : 10-Dec-2012 , 07:49:59 am | Posted By CASANSAAR
RBI deputy governor K C Chakrabarty has come down heavily on banks showing higher profits without providing adequately for bad loans and said, if need be, the central bankmay hike provision coverage ratio (PCR) levels. He also said lending rates would have been far lower if banks had ...
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1 | Hits : 1071
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RBI sets up supervisory college for SBI and ICICI Bank
Posted Date : 05-Dec-2012 , 08:09:07 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has set up a supervisory college for State Bank of India (SBI) and ICICI Bank Ltd, in order to deal with supervisory issues revolving around the banks and establish a cooperation mechanism for cross-border supervision.
For SBI, there are nine host country sup...
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0 | Hits : 823
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Cheque signature mismatch may lead to criminal proceedings
Posted Date : 04-Dec-2012 , 07:29:39 am | Posted By CASANSAAR
A Bench of justices T.S. Thakur and Gyan Sudha Mishra set aside the verdict of Gujarat High Court which had held that criminal proceedings for dishonouring of cheque can be initiated only when the cheque is dishonoured because of lack of sufficient amount in the bank account and not in case where a ...
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Check your cheque status, only those in new format will be honoured from January 1
Posted Date : 03-Dec-2012 , 05:39:43 am | Posted By CASANSAAR
Add one more item — get a new cheque book — to your list of 'things to do' before the New Year. You may not be able to use your old cheques from next year with the implementation of the new Cheque Truncation System (CTS-2010), which will eliminate physical movement of cheques f...
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Status of NPAs in Different Banks
Posted Date : 30-Nov-2012 , 07:48:50 am | Posted By CASANSAAR
The details of Bank Group-wise ratio of Gross Non-Performing Assets (GNPAs) to Gross Advances as on 31st March, 2012 and as on 30th September, 2012 are as under:
Banks
31st March, 2012
*30th Sept., 2012
Nationalised Banks
2.67%
3.50%
Sta...
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Initiate penal action against defaulters: Govt to banks
Posted Date : 29-Nov-2012 , 08:38:55 am | Posted By CASANSAAR
Worried over rising bad loans, the government has asked state-owned banks to crack the whip on wilful defaulters and initiate penal proceedings against them.
The issue of initiating penal action figured in meetings of the bankers with Finance Minister P Chidambaram.
"It i...
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0 | Hits : 815
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Banking services on your palm Just dail a no. from any handset
Posted Date : 27-Nov-2012 , 08:16:28 am | Posted By CASANSAAR
Checking your bank balances or placing a request for a cheque book has been made as simple and hassle-free as dialling *99# from your mobile.
Just dial *99# from your mobile of any make, every banking service, be it fund transfer or checking balances, comes at platter.
Formally rol...
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FM asks RBI to bring out final bank licence norms
Posted Date : 16-Nov-2012 , 08:50:25 am | Posted By CASANSAAR
Finance Minister P Chidambaram has asked the Reserve Bank of India (RBI) to start working towards issuing the final guidelines for new banking licences and receiving applications from interested entities. The development comes even as the central bank insists on amending the Banking R...
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1 | Hits : 1112
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30 rules to keep bank accounts safe from fraudsters!
Posted Date : 15-Nov-2012 , 09:04:45 am | Posted By CASANSAAR
Banks have warned customers to follow 30 rules to keep their accounts safe from crooks or risk being left out of pocket.
Many banks in London are imposing sneaky terms and conditions to allow them to block compensation to innocent victims of chip-and-pin or Internet fraud.
The new rules include de...
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0 | Hits : 903
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From Jan 1, all non-CTS cheques will bounce
Posted Date : 06-Nov-2012 , 08:34:05 am | Posted By CASANSAAR
Starting January 1, 2013, banks will not accept cheques that do not conform to the new standards under the cheque truncation system (CTS).
As per a directive from the Reserve Bank of India (RBI), all lenders are mandated to phase out all non-CTS cheques by the end of December.
Indi...
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RBI gives licence to eight new cooperative banks in Lucknow
Posted Date : 26-Oct-2012 , 07:59:24 pm | Posted By CASANSAAR
Reserve Bank of India has given licence to eight new cooperative banks in the state, Cooperative minister Shivpal Singh Yadav said here today.Yadav said with the licence to eight new banks the total number of cooperative banks would rise to 33 in the state.These new banks would come in Lucknow...
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0 | Hits : 796
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RBI slaps penalties on ING Vysya, ICICI Bank
Posted Date : 10-Oct-2012 , 08:23:53 am | Posted By CASANSAAR
The Reserve Bank of India has slapped a fine of Rs 55 lakh on ING Vysya Bank and Rs 30 lakh on ICICI Bank for violations in know your customer (KYC) guidelines.
“The RBI imposed monetary penalties of Rs 55 lakh on ING Vysya Bank and Rs 30 lakh on ICICI Bank in exercise of the powers v...
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0 | Hits : 916
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RBI to allow 4 new banks, begin process this month
Posted Date : 05-Oct-2012 , 08:25:23 am | Posted By CASANSAAR
IN a much-awaited big ticket announcement that hopes to boost the financial sector, the Reserve Bank of India is set to allow the opening of new banks and invite applications for licences this month.
A top government source said the central bank will issue the final guidelines for setting u...
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0 | Hits : 1174
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Punjab National Bank, Union Bank, Oriental Bank of Commerce revise deposit rates on FCNR accounts
Posted Date : 03-Oct-2012 , 08:12:11 am | Posted By CASANSAAR
Public sector lenders, Punjab National Bank(PNB), Union Bank of India (UBI) and Oriental Bank of Commerce (OBC) revised their deposit rates on FCNRaccounts (foreign currency non-deposit accounts) with maturity of one-five years from today.
As per the revised ra...
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0 | Hits : 812
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Finance Ministry for zero charges on e-transfer of funds up to Rs 1 lakh
Posted Date : 25-Sep-2012 , 07:46:10 pm | Posted By CASANSAAR
To promote cashless transactions, theFinance Ministry has asked public sector banks to take steps to reduce the fee to zero for electronic transfer of funds up to Rs one lakh. Currently, most banks charge a maximum fee of Rs 5 per transfer of funds up to Rs 1 lakh from one a...
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0 | Hits : 866
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Bank Note Press, Dewas Awarded a Prestigious National Safety Award
Posted Date : 19-Sep-2012 , 08:41:30 am | Posted By CASANSAAR
Bank Note Press, Dewas has been awarded a prestigious National Safety Award at a function in Vigyan Bhawan yesterday. This award was presented by the Union Minister of Labour & Employment, Shri Mallikarjun Kharge to Shri B. Burman, General Manager, Bank Note Press, Dewas in the category of indus...
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