India Bank News

Bank of Baroda-Lawrencedale Agro Processing sign MoU to help double farmer's income
New Delhi , July 25 : Aiming to assist the government in doubling of farmer's income by 2022, Bank of Baroda on Tuesday entered into a Memorandum of Understanding (MoU) with Lawrencedale Agro Processing India Pvt. Limited. Read Full Story

Standard Chartered launches Multicurrency Forex; aims to reduce customers travel woes
Mumbai (India), July 24 : The Standard Chartered Bank on Monday launched a 'Multicurrency Forex Card' to allow customers the convenience of loading up to 20 widely used currencies on one card with an online reload facility during overseas travel. Read Full Story

Bank of Baroda to extend services to Government e-Marketplace initiative
New Delhi , July 21 : Bank of Baroda on Friday announced entering into a Memorandum of Understanding (MoU) with the Directorate General of Supplies and Disposal (DGS and D) for extending various banking services to the Government e-Marketplace (GeM) initiative. Read Full Story

SBI to collect stamp duty, registration fee and e-SBTR in Maharashtra
New Delhi , July 17 : India's largest lender State Bank of India (SBI) on Monday announced felicitation of online and over the counter payment of stamp duty, registration fee and Electronic Secured Bank and Treasury Receipt (e-SBTR) across all its branches in Maharashtra. Read Full Story

YES BANK, OPIC and Wells Fargo tie-up to support women entrepreneurs, SMEs
New Delhi , July 14 : India's largest Private Sector Bank (PSB) YES BANK on Friday announced its tie-up with Overseas Private Investment Corporation (OPIC), the U.S. Government's Development Finance Institution, and Wells Fargo on an agreement to increase lending to small and medium enterprises (SMEs) in India. Read Full Story

YES BANK Launches 'YES GST' Program to Assist MSMEs Become GST-ready
MUMBAI, July 11, 2017 : YES BANK survey of MSMEs indicates that 1 in 2 MSME is unaware of implications of GST on its business. YES BANK has launched a Missed call Helpline to address this. Read Full Story

RBI to banks: Ensure customer protection during electronic transactions
Mumbai , July 6 : The Reserve Bank of India (RBI) on Thursday issued a circular to banks across the country to ensure protection of their customers from unauthorized and fraudulent electronic banking transactions. Read Full Story

"Experience Axis" through its new campaign
Mumbai , July 4 : Axis Bank, country's third largest private sector bank launched a new campaign 'Experience Axis', featuring its brand ambassador Deepika Padukone. The Bank showcases a range of offers on their credit and debit card bouquet, through the vibrant twenty-second video series. Read Full Story

RBI to soon unveil new Rs. 200 notes
New Delhi , July 4 : The Reserve Bank of India will be coming up with new notes of Rs. 200. Read Full Story

SBI to offer GST-ready solutions starting today
New Delhi , July 1 : The largest lender State Bank of India (SBI) on Saturday announced its Goods and Services Tax (GST) ready solutions, including the introduction of online payment through internet banking and debit card. Read Full Story

Indian Bank extends its social presence to Instagram
New Delhi , July 1 : With a vision to reach prospective audience and connect with the younger generation, Indian Bank on Saturday announced its decision to join Instagram - @myindianbank. Read Full Story

RBI advises banks to allocate higher provisioning for 12 stressed accounts
New Delhi , June 27 : The Reserve Bank of India (RBI) on Tuesday issued an advisory letter to banks asking them to incorporate additional provisioning on the 12 loan accounts to be referred to the NCLT (National Company Law Tribunal) under the Insolvency and Bankruptcy Code (IBC), reports Moneycontrol. Read Full Story

HDFC Bank to organise GST workshops across India
New Delhi , June 23 : HDFC Bank Ltd will be organising awareness workshops to educate traders, merchants, and businessmen on the forthcoming Goods and Services Tax (GST) Bill, which is slated to come into effect on July 1, 2017. Read Full Story

Online banking users to reach 150 billion by 2020: Study
New Delhi , June 22 : With the ongoing digital drive in India, the number of users opting for online banking is expected to double to reach 150 million mark by 2020, from the current 45 million active urban online banking users in India, according to a report drafted by Facebook and The Boston Consulting Group (BCG). Read Full Story

Online banking security incidents come with USD 1.8 mln price tag for banks
New Delhi , June 20 :The crippling financial implications of online banking security incidents have been brought to light by the latest Kaspersky Lab report into cyber security threats in the financial sector. Read Full Story

Large defaulters to be focus of bankers meet in Mumbai
Mumbai , June 19 : The next course of action to be taken against six of the 12 bad loan defaulters will be in all probability be decided by leading bankers at a meeting here today. Read Full Story

SBI reduces home loan interest rates by 10 bps for loans above Rs. 75 lakhs
New Delhi , June 9 : Largest home loan provider State Bank of India (SBI) on Friday revised its interest rates as it reduced 10 bps for properties above Rs. 75 lakhs. Read Full Story

IndusInd Bank raises USD 225 m loan from OPIC; to support MSME lending
New Delhi , June 9 : The Overseas Private Investment Corporation (OPIC) and IndusInd Bank on Friday executed a finance agreement for a USD 225 million loan in support of MSME lending programs across India. Read Full Story

SBI closes Rs. 15000 crore mega QIP
New Delhi , June 9 : The State Bank of India (SBI) on Friday successfully concluded India's largest ever Qualified Institutional Placement (QIP) of Rs. 15,000 crore that witnessed oversubscription and demand, which exceeded Rs. 27,000 crore. Read Full Story

SBI to organize mega farmers' meet on June 8
Mumbai , June 6 : The State Bank of India, the country's largest lender, will organize farmers' meets at 15,500 rural and semi-urban branches across the country on June 8. Read Full Story

IFFCO, Bank of Baroda launch co-branded debit card for farmers
New Delhi , May 23 : Largest fertiliser cooperative IFFCO on Tuesday announced its collaboration with Bank of Baroda to launch its co-branded debit card for farmers at a card distribution ceremony organized at their corporate office in New Delhi. Read Full Story

ICICI Bank slashes home loan rates by upto 30 basis points
New Delhi , May 15 : Largest private sector bank ICICI Bank on Monday announced reduction in its interest rates by up to 30 basis points for home loans up to Rs. 30 lakh in its bid to boost affordable housing in the country. Read Full Story

SBI denies levying charges on all withdrawals
New Delhi , May 12 : Soon after reports surfaced of Rs. 25 charge on cash withdrawals, the State Bank of India on Thursday denied the same, stating that the charges were only applicable on withdrawals made by the State Bank Buddy through ATMs. Read Full Story

RBI to conduct Variable Rate Reverse Repo Auctions today
Mumbai , May 11 : The Reserve Bank of India (RBI) will conduct 7 day, 14 day and 28 day variable rate reverse repo auctions under LAF on Thursday. Read Full Story

IDBI Bank on RBI's radar for bad loans
New Delhi , May 10: The Reserve Bank of India (RBI) on Wednesday invoked prompt corrective action (PCA) on government-owned IDBI Bank due to its bad loans and return on assets (ROA). Read Full Story

SBI welcome bids from i-bankers; to manage fund-raising plans
New Delhi , May 9 : The country's largest lender State Bank of India (SBI) on Tuesday invited bids from investment bankers for its proposed Rs. 15,000 crore capital raising plan. Read Full Story

Yes Bank, Cashkaro to launch first card linked offers program
New Delhi , May 9 : Private sector bank Yes Bank on Tuesday announced its tie-up with Cashkaro to launch India's first Card Linked Offers (CLO) cash-back proposition. Read Full Story

SBI reduces home loan interest rate by 25 basis points
New Delhi , May 8 : State Bank of India (SBI) on Monday announced a rate cut in the home loans category by 25 basis points to 8.35 percent per annum in line with Prime Minister Narendra Modi's initiative of 'Housing for All' by 2022. Read Full Story

RBI announces rate of interest on Floating Rate Bonds, 2024
Mumbai (Maharashtra) , May 5 : The rate of interest on the Floating Rate Bonds, 2024 (FRB 2024) applicable for the half year May 7 to November6 has been fixed at 6.30 percent per annum, the Reserve Bank of India (RBI) announced on Friday. Read Full Story

Centre notifies new Banking Regulation Act
New Delhi , May 5 : The Narendra Modi-led government on Friday notified the ordinance to amend the Banking Regulation Act, empowering the Reserve Bank of India (RBI) and banks to initiate bankruptcy proceedings against chronic defaulters. Read Full Story

HDFC Q4 profit down 22 pct to Rs. 2044 crore
New Delhi , May 4 : Country's largest housing finance company HDFC on Thursday announced its standalone profit during January-March quarter, which fell 21.6 percent to Rs. 2,044.20 crore as compared with Rs. 2,607.05 crore in same quarter last fiscal. Read Full Story

ICICI Bank Q4 profit jumps three fold; bad loans up 26 pct
New Delhi , May 4 : Country's largest private sector lender ICICI Bank on Thursday announced its fourth quarter standalone profit up 188.4 percent (nearly three-fold) to Rs. 2,024.6 crore. Read Full Story

Govt. has two years to 're-energise' economy: Deutsche Bank report
New Delhi , Apr 28 : According to a report published by the Deutsche Bank, the government has two more years to're-energise' the economy, re-start the investment cycle and accelerate job growth. Read Full Story

RBI, Bank of Guyana sign MoU for supervisory exchange of information
New Delhi , Apr 20 : The Reserve Bank of India (RBI) on Thursday announced signing of an MoU with the Bank of Guyana on "Supervisory Cooperation and Exchange of Supervisory Information". Read Full Story

IndusInd Bank Q4 profit up 21 pct; net interest income up 31.5 pct
New Delhi , Apr 19 : Private sector lender IndusInd Bank on Wednesday announced its fourth quarter result which missed the analysts' estimates due to sharp jump in provisions despite stable asset quality while net interest income was ahead of expectations due to better loan growth. Read Full Story

RBI's tightening of prompt corrective action framework positive for banking sector
New Delhi , Apr 19 : According to credit rating agency ICRA, the Reserve Bank of India's (RBI)'s revision in the prompt corrective action (PCA) framework for the banks is a positive and a welcome step, given the operating and financial profile of some of the banks. Read Full Story

CBI files case against managers of Bank of Maharashtra, UCO bank over demonetization
New Delhi , Apr. 13 : The Central Bureau of Investigation (CBI) on Thursday registered cases against managers of Bank of Maharashtra and UCO Bank in connection with demonetisation and some illegal private properties. Read Full Story

Indian Bank expands its reach in social media
New Delhi , Apr 13 : In line with our vision to be at the forefront of technology, Indian Bank launches its Facebook page. Read Full Story

Cinepolis , HSBC India collaborate to enable UPI payment across all screens
New Delhi , Apr. 13 : Aiming to fuel the Government's digital economy drive, Cinepolis on Thursday announced the launch of a Unified Payment Interface (UPI) across all its multiplexes in the country, driven by HSBC India. Read Full Story

Self-certification of bank accounts by Apr. 30 or closure
New Delhi , Apr 12 : As part of the Foreign Account Tax Compliance Act (FATCA) compliance, the bank accounts opened between July 1, 2014, and August 31, 2015, are required to submit self certification forms by April 30 this year failing which the accounts will be blocked, said a statement issued by the Central Board of Direct Taxes (CBDT). Read Full Story

HDFC Bank launches its UPI on Chillr
New Delhi , Apr. 7 : HDFC Bank Ltd. on Friday announced the launch of its Unified Payment Interface (UPI) on India's first multi-bank payment app, Chillr. With this launch, HDFC Bank UPI will be available on Chillr, in addition to the bank's Mobile Banking app. Read Full Story

RBI policy as expected: Chief Economic Adviser, SBI
New Delhi , Apr. 6 : The Reserve Bank of India's (RBI) monetary policy announced earlier on Thursday has been hailed as a 'cautious' effort to tackle inflation and increase in liquidity. Read Full Story

ICICI Bank welcomes RBI's decision to keep repo rates unchanged
New Delhi , Apr. 6 : Hailing the Reserve Bank of India's (RBI) decision to keep the repo rates unchanged on Thursday, ICICI Bank MD and CEO Chanda Kochhar said the central bank is very clear in articulating on liquidity management. Read Full Story

SBI begins operations as merged entity from April 1
Mumbai (Maharashtra) , Apr. 1 : The State Bank of India has merged its five Associate Banks - State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore besides Bharatiya Mahila Bank - with itself with effect from April 1. Read Full Story

Solar Projects: SBI signs 200 Million Euro loan deal with European Investment Bank
New Delhi , Mar. 31 : The European Investment Bank today confirmed new support for solar power generation in India in partnership with the State Bank of India. Read Full Story

Interest rate on small saving schemes reduced by 0.1 pct
New Delhi, Mar 31 : The Union Government on Friday announced revised rates of interest on various small savings schemes for the first quarter of the financial year 2017-18, reducing interest rate by 0.1 percent. Read Full Story

Axis Bank, Wells Fargo enter into bilateral arrangement to offer remittance facility to US-based NRI customers
New Delhi , Mar 30 : Axis Bank, India's third largest private sector bank, has announced a strategic partnership with Wells Fargo and Company to offer seamless remittance facility to their NRI customers from The United States of America (USA). USA is one of the key corridors to receive remittances to India, which contributes to more than 30 percent of total remittance volume to India. Read Full Story

SBI Card launches 'SBI Card Unnati'
New Delhi/ Kolkata, Mar 29 : SBI Card, one of India's leading credit card issuers, on Wednesday announced the launch of a unique credit card, 'SBI Card Unnati', targeted at all SBI customers, including Jan Dhan account holders throughout the country. Read Full Story

RBI announces closure of all payment systems on April 1
New Delhi , Mar. 30 : Contrary to its previous announcement that was circulated with regards to banks being operational on April 1, the Reserve Bank of India (RBI) in a revised circular stated that all payment systems will be closed on the aforementioned date. Read Full Story

SBI Card launches 'SBI Card Unnati' credit card to facilitate digital payments nationwide
New Delhi , Mar. 30 : SBI Card, one of India's leading credit card issuers announced the launch of a credit card, 'SBI Card Unnati', targeted at all State Bank of India (SBI) customers, including Jan Dhan account holders, throughout the country. Read Full Story

Bank of Baroda enters into MOU with Jain Irrigation Systems Limited
Mumbai, Mar 28 : Bank of Baroda, apublic sector bank has entered into MOU with Jain Irrigation Systems Limited, with an objective to finance the Micro Irrigation systems i.e. drip and sprinkler irrigation sold by the company through the network of Bank of Baroda branches across the country. Read Full Story

Bank of Baroda enters into MOU with Jain Irrigation Systems
New Delhi , Mar 27 : Bank of Baroda, India's leading public sector bank has entered into MOU with Jain Irrigation Systems Limited, with an objective to finance the Micro Irrigation systems i.e. drip and sprinkler irrigation sold by the company through the network of Bank of Baroda branches across the country. Read Full Story

SBI chairman Arundhati Bhattacharya features in Fortune's 'Greatest Leaders' list
New Delhi , Mar. 25 : Arundhati Bhattacharya, Chairman, State Bank of India (SBI) has been ranked 26th in the fourth edition of Fortune's 'World 50 Greatest Leaders' list. Read Full Story

RBI Deputy Governor Mundra inaugurates Bandhan Bank's Nariman Point branch in Mumbai
Mumbai, Mar 23 : Bandhan Bank Ltd on Thursday opened a new branch at Nariman Point in Mumbai taking its branch network to 831. Read Full Story

Assam govt signs MoU with SBI to provide housing, educational loan at subsidised interest rates
Guwahati, Mar 22 : To provide housing loan and educational loan at subsidised interest rates to the employees of the state government, a MoU was signed on between the Assam government and State Bank of India on Wednesday. Read Full Story

ICICI Bank opens new branch at Jatia in Guwahati
Guwahati, Mar 20 : ICICI Bank, a private sector bank by consolidated assets, inaugurated a new branch at Jatia in the Guwahati city. Read Full Story

Bharatiya Mahila Bank to merge with State Bank of India
New Delhi, Mar 20 |: The Government of India has decided to merge the Bharatiya Mahila Bank (BMB) with the State Bank of India (SBI) to ensure greater banking services outreach to a larger number of women, at a faster pace,officials said. Read Full Story

Bharatiya Mahila Bank to merge with SBI
New Delhi , Mar. 20 : The Government of India has decided to merge the Bharatiya Mahila Bank (BMB) with the State Bank of India (SBI) to ensure greater banking services outreach to a larger number of women, at a faster pace. Read Full Story

ICICI Bank launches 'Mera iMobile' for rural customers
New Delhi , Mar 20 : Private sector bank ICICI Bank Ltd on Monday announced the launch of a unique mobile banking app 'Mera iMobile' for rural customers that will allow them to access banking services as well as information on agri services. Read Full Story

Cash withdrawal limits from banks removed from today
New Delhi , Mar. 13 : All restrictions on cash withdrawal from savings bank account have been removed from today as the Reserve Bank of India (RBI) had announced about it last month. Read Full Story


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