India Bank News

Old currency put in banks to be closely scrutinised
New Delhi, Dec 8 : Finance Minister Arun Jaitley on Thursday said the government was closely scrutinising the old currency being deposited into banks and legitimate action will be taken upon these. Read Full Story

Supply adequate cash or face agitation, bank union warns RBI
Chennai, Dec 8 : A major banking sector union on Thursday asked the RBI to supply adequate cash to nationalised bank branches and ATMs or stop cash transactions, otherwise they may resort to agitation and even go on strike. Read Full Story

India's central bank lowers growth forecast to 7.1%
Mumbai, Dec 7 : The Reserve Bank of India (RBI) on Wednesday lowered the country's growth forecast for 2016-17 to 7.1 per cent from 7.6 per cent during its fifth bi-monthly monetary policy review. Read Full Story

Punjab National Bank partners with Ola to deploy mobile ATMs
New Delhi, Dec 6 : Punjab National Bank (PNB) on Tuesday announced a partnership with cab aggregator Ola to aid cash withdrawals for the citizens of Delhi and the National Capital Region (NCR). Read Full Story

Axis Bank suspends two managers arrested by ED under PMLA Act
New Delhi [India], Dec. 5: Axis Bank suspended two of its managers on Monday. They were arrested by the Enforcement Directorate under the Prevention of Money Laundering Act (PMLA) case for their alleged involvement in settling of unaccounted money. Read Full Story

'AIBEA for clean banking system, does not support illegality'
Chennai, Dec 2 : The All India Bank Employees Association (AIBEA) is for a clean banking system and does not support any illegal action on the part of management or the employees, said a top union official. Read Full Story

RBI should publicly state bank wise supply of currency notes:Unions
Chennai, Dec 2 : Two major unions in the banking sector on Friday urged Union Finance Minister Arun Jaitley to advise the Reserve Bank of India (RBI) to publicly announce the details of currency notes supplied to various banks. Read Full Story

Banks not accepting pre-2005 Rs 1,000 notes
New Delhi, Nov 30 : The queues outside the Reserve Bank of India (RBI) are getting longer as banks are not accepting the old Rs 1,000 notes printed before 2005. Read Full Story

Shift from 'class' to 'mass' banking may hit bank bottomlines
Chennai, Nov 30 : The demonetisation narrative has seen a subtle shift from "curbing black money" to the need for a "cashless economy", but experts feel a cashless economy could hit the bottomlines of banks as the number of transactions would increase exponentially, making them cost-inefficient. Read Full Story

Bank unions want police protection for branches
Chennai, Nov 30 : Two unions in the banking sector have urged the Indian Banks Association (IBA) to advice its member banks to seek police protection for branches as they face cash crunch. Read Full Story

RBI puts withdrawal limits on accounts under PMJDY
New Delhi [India], Nov. 30 : In a bid to protect farmers and rural Jan Dhan account holders from money launderers, the Reserve Bank of India (RBI) on Wednesday announced a temporary measure by notifying that they will be allowed to withdraw only Rs. 10,000 per month. Read Full Story

SC/ST Bank sought on lines of Mahila Bank
New Delhi, Nov 28 : The All India Confederation of SC/ST Organisations -- Parisangh -- urged Prime Minister Narendra Modi to open a separate bank with a capital of Rs 1 lakh crore to help Dalit and tribal entrepreneurs. Read Full Story

ICICI Bank to convert 100 villages into digital in 100 days
Mumbai, Nov 28 : Private sector lender ICICI Bank on Monday said it will transform 100 villages into digital villages in as many days to enable villagers go in cash less banking and payments transactions. Read Full Story

RBI allows banks to deposit old currency notes in district chests
Mumbai [India], Nov. 28 (ANI): The Reserve Bank of India (RBI) has allowed lenders to park old 500 and 1,000 rupee currency notes in currency chests at the district level in view of mounting deposits due to the ongoing domonetisation drive. Read Full Story

'SBI's digital platforms can handle high volume transactions'
Chennai, Nov 27 : The State Bank of India's digital transaction platforms are geared to handle much higher transactions than the average level and post demonetisation the channel is seeing quantum jump in transactions, said a senior official. Read Full Story

Cooperating with I-T probe on currency haul: Axis Bank
New Delhi, Nov 25 : Following reports of the Income Tax department raiding a branch here of Axis Bank after two people were held with Rs 3.5 crore in new notes, the private lender said on Friday that it was investigating the matter and cooperating with the authorities. Read Full Story

Citibank enables instant add-money to Paytm for its internet banking users
New Delhi [India], Nov 25 : The Indian banking landscape has transformed rapidly in the last few years, driven by a combination of factors consumer's digital adoption, a progressive regulatory environment and visionary Government policies. Read Full Story

Counter exchange of old currency available at RBI counter
New Delhi [India], Nov. 25 : The Reserve Bank of India (RBI) on Friday announced that the exchange of Rs. 500 and Rs. 1000 currency notes will continue to be available at its counters up to current limits per person as hitherto. Read Full Story

Banks in chaos over cash withdrawal limit
Noida/New Delhi, Nov 24 : Hit hard by an unprecedented cash crunch, many banks are just refusing to let customers withdraw the Rs 24,000 they are entitled to every week as per RBI guidelines. Read Full Story

Asian, African Banks are attacked using zero-day vulnerability
New Delhi [India], Nov.24 : Kaspersky Lab's Global Research and Analysis Team has discovered attacks which appear to be using a zero-day exploit (a malicious program allowing additional malware to be silently installed) for the InPage text editor. Read Full Story

State Bank of India, HDFC Bank go live on Trupay UPI
New Delhi [India], Nov 23 : State Bank of India along with HDFC Bank on Wednesday went live with their United Payment Interface (UPI) services on Financial Technology company Trupay. Read Full Story

Paytm launches 'App POS' for small merchants to accept debit, credit cards
New Delhi [India], Nov 23 : India's largest digital wallet and payment company Paytm on Wednesday updated its app to launch India's first APP POS allowing all small and medium merchants to accept all card payments including Rupay, Visa, MasterCard and Maestro. Read Full Story

Airtel Payments Bank starts pilot services in Rajasthan
New Delhi/Jaipur, Nov 23 : Aimed at testing systems and processes ahead of a full-scale pan-India launch, Airtel Payments Bank has rolled out a pilot of its banking services in Rajasthan, a company statement said here on Wednesday. Read Full Story

Airtel Payments Bank starts pilot services in Rajasthan
New Delhi/Jaipur, Nov 23 : Aimed at testing systems and processes ahead of a full-scale pan-India launch, Airtel Payments Bank has rolled out a pilot of its banking services in Rajasthan, a company statement said here on Wednesday. Read Full Story

All India Bank Employees Association demands RBI Gov.'s resignation
New Delhi [India], Nov 23 : Holding RBI Governor Urjit Patel responsible for ineffective handling of the crisis post the demonetisation drive, All India Bank Employees Association vice-president Vishwas Utagi on Wednesday said that bank unions are adamant on their demand for the former's resignations as well as lockdown of the apex bank. Read Full Story

SBI denies reports of waiving off Vijay Mallya's loan
Mumbai[India], Nov. 18 : Criticizing the role of media on the report of Vijay Mallya's loan waiver, State Bank of India's Chair-Managing director, Arundhati Bhattacharya on Friday denied any intent of the loan being waivered for the embattled liquor baron. Read Full Story

Banks to not exchange Rs. 2000 notes tomorrow, exception for senior citizens only
Mumbai [India], Nov. 18 : Keeping in view that all banks have been working on overdrive since the Centre announced demonetisation, the Indian Bank Association (IBA) on Friday announced that all banks across the nation will not exchange over the counter the new 2000 rupee notes on Saturday in order to update their pending works and tend to their respective customers. Read Full Story

Unsung heroes: Bank staff work overtime to manage cash flow, tempers
New Delhi, Nov 18 : While millions are struggling to deposit or exchange the demonetised currency and withdraw money from banks, it is the staff of nationalised and private banks who are facing the brunt of the government move to spike the Rs 500 and Rs 1,000 notes. Read Full Story

PAN made mandatory for some bank transactions
New Delhi, Nov 17 : The Income Tax department on Thursday made the Permanent Account Number (PAN) mandatory for a string of bank transactions, including cash deposits of Rs 2.5 lakh or more, till December 30. Read Full Story

ICICI, HDFC banks lower fixed deposit rates up to 0.25%
New Delhi, Nov 17 : With major infusion of fresh liquidity arising from the demonetisation measure, private lenders ICICI Bank and HDFC Bank on Thursday slashed fixed deposit (FD) rates by up to 0.25 per cent. Read Full Story

Banks getting back to normal, queues getting shorter, says ICICI CEO on demonetization
New Delhi [India], Nov. 17 : Speaking to reporters after the Parliament session on Thursday, ICICI Bank MD and CEO Chanda Kochhar said that the situation at the banks is getting back to normal gradually and added that queues are getting shorter and there is enough cash being made available. Read Full Story

Indelible ink use is eyewash: Bank staff union
Kolkata, Nov 17 : The Bank Employees Federation of India (BEFI) on Thursday said the government decision to use indelible ink to prevent people from making multiple cash withdrawals from banks was an "eyewash". Read Full Story

Crownit, YES Bank tie-up to introduce unique digitised 'Meal Voucher System'
New Delhi [India], Nov 16 : YES BANK has partnered with Crownit, the leading merchant discovery and privileges platform to contribute towards making the vision of a digitally-driven Indian economy a tangible reality. Read Full Story

As banks observe holiday, ATMs run dry, people stay cashless
New Delhi, Nov 14 : A large number of people were left cashless on Monday as most of the ATM kiosks in the national capital displayed a no-cash board and the banks observed a national holiday on the occasion of Guru Gobind Singh Jayanti. Read Full Story

Cash deposits of over Rs 2.5 lakhs under scanner: CBDT
New Delhi [India], Nov. 14 : The Central Board of Direct Taxes (CBDT) on Monday announced that it will scrutinise cash deposits more than 2.5 lakhs in banks and firm action will be taken if it has not been made through proper channels. Read Full Story

Ahead of demonetisation, banks asked to install additional CCTVs
Chennai, Nov 14 : When a nationalised bank's manager read an official circular on November 7 regarding beefing up the closed-circuit television network or even hiring a videographer to capture the scene near its cash counters, he had no inkling of what was in store the next day. Read Full Story

Did banks ignore RBI order on Rs 100-ATMs before demonetisation?
New Delhi, Nov 14 : In anticipation of the huge demand for lower currency notes, ahead of the demonetisation move, the Reserve Bank of India had asked banks to set up Automated Teller Machines which dispensed only Rs 100 notes. Read Full Story

Banks warn staff over unauthorised exchange of notes
New Delhi, Nov 14 : Banks have issued alerts to their employees, warning them of serious action over unauthorised transactions following demonetisation of Rs 500 and Rs 1,000 currency notes in India. Read Full Story

Demonitisation: Task force set up for recalibration of ATMs
New Delhi [India], Nov. 14 (ANI): Economic Affairs Secretary Shaktikanta Das has announced that a task force is being set up under the chairmanship of deputy governor of the Reserve Bank of India (RBI) for recalibration of ATMs to expedite the process of cash transactions. Read Full Story

Government hikes withdrawal limits at banks, ATMs
New Delhi, Nov 13 : In order to provide respite to cash-starved citizens, the government on Sunday decided to increase the withdrawal and exchange limits in banks and ATMs across the country. Read Full Story

SBI's 'demonetisation deposits' swell to Rs 75,945 cr
Chennai, Nov 13 : India's largest lender State Bank of India (SBI) has seen Rs 75,945 crore in deposits since the demonetisation of high-denomination currency notes on November 8, said a senior official on Sunday. Read Full Story

Bhopal bank rolls out new Rs. 500 notes
Bhopal (Madhya Pradesh) [India], Nov. 13 : In a first, a State Bank of India branch in Bhopal on Sunday rolled out the first set of the newly issued Rs. 500 notes. Read Full Story

SBI to calibrate 1,000 ATMs for Rs 2,000 notes by Monday
Kolkata, Nov 13 : State Bank of India (SBI) expects to calibrate 1,000 of its ATMs for Rs 2,000 currency notes by Monday night, its Chairman Arundhati Bhattacharya said on Sunday. Read Full Story

SBI mops up Rs 39,727 cr `demonetisation deposits' in two days, net profit falls
Mumbai, Nov 11 : Pursuant to the central government's demonetisation move, India's largest bank State Bank of India (SBI) has mopped up Rs 39,727 crore as deposits across the country during the last two days, a senior bank official said on Friday. Read Full Story

RBI approves Kotak Mah Bank to open its overseas branch in Dubai
New Delhi [India], Nov 11 : India's fourth largest private sector bank Kotak Mahindra today announced its receiving an approval by the Reserve Bank of India (RBI) to set up its branch in Dubai International Financial Centre (DIFC), Dubai. Read Full Story

Andhra Bank's profit down, IOB's loss up
Chennai, Nov 11 : Two government owned banks -- Andhra Bank and Indian Overseas Bank (IOB) -- on Friday announced contrasting second quarter results with Andhra Bank showing profit and higher income and IOB a loss and lower income. Read Full Story

Banks have enough cash for exchange of demonetised notes: RBI
Mumbai, Nov 11 : The Reserve Bank of India (RBI) on Friday said there was enough cash made available with banks all over the country for exchange of demonetised Rs 500 and Rs 1,000 notes, though it may "take a while for the banks to recalibrate their ATMs". Read Full Story

SBI sets up currency exchange counters at WHO meet
Greater Noida, Nov 10 : The State Bank of India (SBI) on Thursday set up a currency exchange counter at the venue of the ongoing WHO Framework Convention on Tobacco Control (FCTC) for the convenience of foreign delegates. Read Full Story

Banks directed to expand banking facility in remote areas : Rijiju
Shillong, Nov 10 : Minister of State for Home Affairs Kiren Rijiju on Thursday said the government has directed banks to expand their facilities in the remote areas to ensure that people have easy access to the financial system in the wake of demonetisation of Rs 500 and Rs 1,000 currency notes. Read Full Story

Central bank will in due course infuse notes of Rs. 1000: Shaktikanta Das
New Delhi [India], Nov 10 : Backing the government's decision to demonetize Rs. 500 and 1,000 currency notes, Economic Affairs Secretary Shaktikanta Das on Thursday said that there was a need to revive the currency as the value of rupee has depreciated after 2001, adding notes of Rs. 1,000 will be introduced in due course. Read Full Story

SBI boss welcomes govt. decision, says banks providing full support to customers
New Delhi [India], Nov. 10 : State Bank of India (SBI) chairman Arundhati Bhattacharya on Thursday welcomed the government's decision to scrap Rs. 500 and Rs. 1,000 currency notes and said that the banks would provide full support to the customers. Read Full Story

Banks re-open after Rs 500/Rs 1,000 notes demonitised
New Delhi, Nov 10 : As the banks reopened for the first time on Thursday since the demonetisation of Rs 500 and Rs 1000 notes on Tuesday night, many rushed to exchange old notes with loose change and to deposit the rest. Read Full Story

With banks reopening on Thursday, staff await new currency
New Delhi, Nov 9 : With banks scheduled to dispense new Rs 500 and Rs 2,000 currency notes from Thursday, employees at some bank branches in Delhi waited till late Wednesday evening for the arrival of new currency issued by the RBI. Read Full Story

ICICI Bank posts Rs.3,102 crore profit
Chennai, Nov 7 : Private sector ICICI Bank Ltd on Monday said it closed the second quarter of the current fiscal with a net profit of Rs 3,102.27 crore as compared to Rs. 3,030.11 crore for the same quarter last year. Read Full Story

United Bank of India to raise Rs 300 cr, Q2 profit slumps
Chennai, Nov 7 : The government-owned-United Bank of India on Monday said it would raise Rs 300 crore through preferential allotment of equity shares to Life Insurance Corporation (LIC). Read Full Story

UCO Bank raises Rs 750 crore capital
Kolkata, Nov 4 : State-run UCO Bank on Friday said it raised Rs 750 crore additional tier-1 capital by way of private placement. Read Full Story

Union Bank posts lower profits; Central Bank shows net loss
Chennai, Nov 4 : Government-owned banks Union Bank of India and Central Bank of India on Friday announced contrasting results -- one logging net profit and the other net loss. Read Full Story

Indian banks can issue masala bonds: RBI
Chennai, Nov 3 : The Reserve Bank of India (RBI) on Thursday said Indian banks can issue masala bonds or rupee-denominated bonds issued overseas to augment their capital and long-term funds. Read Full Story

SBI cuts home loans rate by 0.15%
New Delhi, Nov 2 : Country's largest lender, the State Bank of India (SBI) on Wednesday slashed, by 0.15 percent, interest rates for its home loans up to Rs 75 lakh effective from November 1. Read Full Story

Vijaya Bank net up 35 per cent in Q2
Bengaluru, Oct 27 : State-run Vijaya Bank on Thursday reported Rs 155 crore net profit for the second quarter (July-September) of this fiscal (2016-17), posting 35 per cent annual growth from Rs 115 crore in the same period in 2015-16. Read Full Story

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