India Bank News

SBI Launches Credit Certification in Collaboration with Moody's Analytics
Mumbai : The State Bank of India (SBI) and Moody's Analytics announced their collaboration to provide bank-wide credit certification to SBI's employees enabling them to source, appraise and monitor loans faster. Read Full Story

IBBI invites public comments on (i) Draft Insolvency and Bankruptcy
New Delhi : The Insolvency and Bankruptcy Board of India had constituted a Working Group to recommend the strategy and approach for implementation of the provisions of the Insolvency and Bankruptcy Code, 2016 dealing with insolvency and bankruptcy in respect of: Read Full Story

Government of India receives vital information from 13 Banks regarding the bank account operations and post-demonetization transactions
New Delhi : In what is undoubtedly a major breakthrough in its fight against black money and shell companies, vital information has been received by the Government of India from 13 banks regarding the bank account operations and post-demonetization transactions of some of the 2,09,032 suspicious companies that had been struck off the Register of Companies earlier this year. Read Full Story

SBI announces Rajnish Kumar as new chairman
New Delhi , Oct 4 : The government on Wednesday announced appointment of Rajnish Kumar as the new chairman of the country's largest public sector lender, State bank of India (SBI). Read Full Story

Cabinet approves signing of Inter-bank Local Currency Credit Line Agreement
New Delhi : The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to the signing of the (i) Interbank Local Currency Credit Line Agreement and (ii) Cooperation Memorandum Relating to Credit Ratings by Exim Bank with participating member banks under BRICS Interbank Cooperation Mechanism. Read Full Story

Standard Chartered Bank launches Good Life platform in India providing dining offers to its debit/credit card base
New Delhi , Sept 27 : The Good Life is an international platform where Standard Chartered Bank showcases offers and special promotions to its debit and credit cardholders. Read Full Story

SBI revises service charges on maintaining monthly average balance
Mumbai, (Maharashtra) , September 26 : India's largest bank, the State Bank of India (SBI), on Monday lowered the minimum average monthly balance (MAB) requirement in a savings account to Rs 3,000 from Rs 5,000. Read Full Story

SBI launches FTSE SBI Bond Index series in London
Mumbai (Maharashtra) , Sept 22 : State Bank of India and FTSE Russell, a global index and data provider have announced the launch of FTSE SBI Bond Index Series at the London Stock Exchange on Friday, providing the global investor community and other market participants the tools they need to analyse India's bond market. Read Full Story

TAB Capital, management recognized as fastest growing NBFC in SME manufacturing summit
New Delhi , Sept 11 : The State Bank of India has recognized the TAB Capital as the fastest growing NBFC ever since its inception in March, 2016 in the Small and Medium Enterprises (SME) manufacturing Summit held on September 8 in Mumbai. Read Full Story

Paytm pioneers Quick Response to enable merchants for easy digital payments
New Delhi , Sept 8 : An ongoing competition between online players with offline amidst the advanced phase of Indian technology, Paytm on Friday has pioneered QR (Quick Response) based mobile payments in India to enable merchants to accept digital payments with its generic QR code. Read Full Story

Aksh Optifibre bags contract with Bank of Baroda
New Delhi , Sep 1 : In accord with Prime Minister Narendra Modi's mission of 'Banking for Everyone and Financial Inclusion', Aksh Optifibre plans to setup 5,000 banking kiosks through its flagship services arm 1 STOP AKSH as the national level bank correspondent for Bank of Baroda. Read Full Story

RBI unveils Rs. 200 note, to be issued on Friday
New Delhi , August 24 : The Reserve Bank of India (RBI) on Thursday unveiled the design of the new Rs. 200 currency note, which will be issued on August 25, 2017 from select RBI offices, and some banks. Read Full Story

Bank unions on strike today, protest against privatisation of public sector banks
New Delhi , August 22 : The bank unions are set to hold a strike across the country today as a mark of protest against the government's move to 'privatise' public sector banks. Read Full Story

Bank Workers Organization asks govt to take responsibility of inconvenience due to bank strike
Mumbai (Maharashtra) , August 21 : Ahead of the bank strike to be held on Tuesday, Vice President of the National Organization of Bank Workers, Ashwani Rana said the government should take responsibility of any inconvenience caused to customers due to the non-operation of banks on account of the strike. Read Full Story

HDFC revises interest rates on savings bank accounts, effective August 19
New Delhi , August 17 : HDFC Bank on Thursday announced a revision in its savings bank interest rate, effective August 19. Read Full Story

Dilip Kumar discharged from Lilavati hospital
Mumbai (Maharashtra) , Aug 09 : All Dilip Kumar fans, breathe a sigh of relief as the 'Tragedy King' has been discharged from the Lilavati Hospital. Read Full Story

IDFC Bank, Zeta tie-up to launch 'IDFC Bank Benefits'
New Delhi , Aug 9 : IDFC Bank has partnered with Zeta, a leader in the digitised employee benefits space, to launch 'IDFC Bank Benefits' - an innovative solution for corporates that digitises employee spends and claims, making the process simple, real-time and paperless. Read Full Story

Banks may need 20pc incremental provisioning for 50 large stressed assets: Study
New Delhi , August 3, : Banks may require an incremental provisioning of 20 per cent against cumulative debt of 50 large stressed assets worth over Rs 4.3 lakh crore in construction, power, metals and other sectors that constitute about half of the gross non-performing assets of the banking sector, noted a recent joint study by ASSOCHAM-Crisil titled 'IBC - Protecting stakeholders, improving ease of doing business.' Read Full Story

Sidharth Malhotra refutes rumours of not being happy with 'A Gentleman'
New Delhi , August 1 : Recently, there were rumours on the internet that Sidharth Malhotra is not happy with his film 'A Gentleman'. Read Full Story

RBI imposes monetary penalty on Union Bank of India
New Delhi , July 31 : The Reserve Bank of India (RBI) had earlier this week imposed a monetary penalty of Rs. 10 million on Union Bank of India for non-compliance with the directions issued by the apex bank on Know Your Customer (KYC) norms. Read Full Story

SBI introduces two-tier interest rate structure, aims to maintain existing MCLR
New Delhi , July 31 : The State Bank of India (SBI) on Monday introduced a new two-tier interest rate structure on savings accounts, effective from July 31. Read Full Story

Axis becomes first Indian bank to acquire digital payments company FreeCharge
New Delhi , July 27 : India's third largest private sector bank Axis Bank on Thursday announced entering into an agreement with Jasper Infotech Private Limited to acquire 100 percent stake in FreeCharge. Read Full Story

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

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