India Bank News


Bandhan Bank opens branches in Goa, reaches 770 branch mark
Goa, Jan 16 : : Bandhan Bank opened its first branch in Goa on Monday. Jaikish, General Manager and Officer-in-Charge, Reserve Bank of India, Goa inaugurated the Bank's Panjim branch. Read Full Story

RBI increases daily ATM withdrawal limit to Rs 10,000
New Delhi, Jan 16 :; Giving relief to people across the nation, the Reserve Bank of India on Monday increased the daily withdrawal limit from ATMs to Rs.10,000. Read Full Story

ICICI Bank executes India's 1st digitised invoice discounting on RXIL
Mumbai, Jan 11 : ICICI Bank Ltd, India's largest private sector bank by consolidated assets, announced that it has successfully executed the country's first digitised invoice discounting transaction on the "Receivables Exchange of India Limited" (RXIL), India's first TReDS (Trade Receivables Discounting System) exchange. Read Full Story

Bank of Baroda cuts rate of interest on Home Loans to 8.35pc
New Delhi, Jan 9 : Subsequent to reduction of bench mark lending rates i.e, MCLR rates by 55 bps to 75 bps across all tenors w.e.f. 07th January 2017, Bank of Baroda, India's leading Public Sector Bank has reduced the rate of interest on Home Loans substantially by 70bps w.e.f. 07th January 2017. Read Full Story

SBI to waive MDR charges on debit card transactions for small merchants
New Delhi , Jan 9 : The country's largest lender State Bank of India (SBI) on Monday announced its decision to completely waive the Merchant Discount Rates (MDR) charges on debit card transactions for all the small merchants having annual turnover of up to Rs. 20 lakh, for a period of one year i.e. up to December 31, 2017. Read Full Story

NRIs can deposit demonetised bank notes till 30 June 2017: MEA
New Delhi , Jan. 6 : The Ministry of External Affairs (MEA) on Friday announced that Non Resident Indians can now deposit demonetised notes of Rupees 500 and 1000 till 30 June 2017. Read Full Story

Ola, Andhra Bank partner to install mobile ATMs at 104th Indian Science Congress
Tirupathi, Jan 5 : Ola, a popular mobile app for transportation, has partnered with Andhra Bank to provide mobile ATMs at the 104th Indian Science Congress in Tirupathi. Read Full Story

RBI asks banks to increase supply of notes to rural branches
New Delhi , Jan. 3 : In order to supply more notes to currency-starved rural branches of the banks, the Reserve bank of India (RBI) has asked its lenders to increase issuance of fresh notes at these areas. Read Full Story

Bank of Baroda enters into MOU with CNX Corporation Ltd
New Delhi, Jan 3 : Bank of Baroda, India's International Bank has entered into MOU with CNX Corporation Ltd (CNX) with an objective to provide collateral management services towards the loans against warehouse receipt sanctioned to the farmers through the network of Bank of Baroda branches across the country. Read Full Story

RBI asks banks to supply at least 40 per cent of currency to rural areas
Mumbai, Jan 3 : The Reserve Bank of India (RBI) has asked banks to supply at least 40 per cent of currency to rural areas, according to media reports. Read Full Story

Banks cut base rates; home, corporate loans to be cheaper
New Delhi , Jan. 3 : Housing, auto and corporate loans are all set to become cheaper as many PSUs and private banks on Tuesday steeply reduced the benchmark lending rate by up to 1.48 percent after spurt in deposits following demonetisation. Read Full Story

SBI cuts benchmark lending rate by 90 bps
New Delhi , Jan 1 : The State Bank of India (SBI) after experiencing a surge in deposits on Sunday announced a rate cut in lending rates by 90 basis points for maturities ranging from overnight to three-year tenure. Read Full Story

SBI cuts benchmark lending rate by 90 bps
New Delhi , Jan 1 : The State Bank of India (SBI) after experiencing a surge in deposits on Sunday announced a rate cut in lending rates by 90 basis points for maturities ranging from overnight to three-year tenure. Read Full Story

Normalising rural banking services is a priority: PM Modi
New Delhi, Dec. 31: Prime Minister Narendra Modi in his address to the nation on Saturday, said that normalising banking services, especially in the country's rural and remote areas, is a priority in the New Year. Read Full Story

President Mukherjee approves Specified Bank Notes (Cessation of Liabilities) Ordinance
New Delhi ,Dec. 30: President Pranab Mukherjee on Friday approved the promulgation of the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016. Read Full Story

No fake accounts being operated by Kotak Mahindra Bank, says spokesman
New Delhi [India], Dec.23 (ANI): Confirming that it has a robust system of regularly and proactively filing necessary reports with the Financial Intelligence Unit (FIU) of the Government of India, Kotak Mahindra Bank on Friday denied that they were operating any fake accounts. Read Full Story

Vital to eliminate convenience charge by banks: TRAI chief
New Delhi [India], Dec.20 : "Cost, Convenience, and Confidence are crucial factors for a successful Digital Payment System implementation in India," said R. S. Sharma, Chairman, Telecom Regulatory Authority of India (TRAI) during a seminar on "Demonetisation to Digital Remonetisation" held at FICCI here. Read Full Story

RBI to issue two new series of Rs. 50 notes, old notes to remain legal
Mumbai, Dec. 19 : The Reserve Bank of India on Monday said it will shortly issue two series of Rs. 50 banknotes in the Mahatma Gandhi Series-2005 with inset letter 'L' on the one series and 'R' on the other, but the old Rs. 50 notes will continue to be legal tender. Read Full Story

Old notes exceeding Rs. 5000 can be deposited after satisfactory explanation
New Delhi, Dec.19 : The Reserve Bank of India (RBI) on Monday announced that deposits of old Rs. 500 and Rs. 1,000 notes exceeding Rs. 5000 shall be made only once per account until December 30 but after a satisfactory explanation. Read Full Story

ED registers case against fake accounts holders in Axis Bank
New Delhi, Dec. 17 : The Enforcement Directorate (ED) on Saturday filed a case against unknown persons for forging bank accounts in Noida Sector 51 branch of Axis Bank under the Prevention of Money Laundering Act (PMLA). Read Full Story

Deposits exceeding Rs. two lakh without linking PAN won't be operational
New Delhi, Dec. 16 : In yet another step to curb black money and prevent illegal transactions, the Reserve Bank of India (RBI) on Friday announced that those who deposited over Rs. two lakh after November 9 without Permanent Account Number (PAN) will not be able to operate their respective bank accounts. 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

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

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

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

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

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

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

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 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

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

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

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

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

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

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

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

Catholic Syrian Bank Registers Record Net Profit in H1, 2016-17
Thrissur (Kerala) , Oct.27 (ANI-Businesswire India): During the first half of the financial year 2016 -17 Catholic Syrian Bank has registered the highest ever net profits during the first half, in the entire history of the 96 year old organization. Backed by surge in treasury profits on account of favorable interest rate movements, effective management of stressed assets, improvement in CASA and asset growth and strict control over operating expenses, the bank has recorded a net profit of Rs. 53 crore in H1 of 2016-17 as against a loss of Rs. 41 crore during H1 of previous year. The operating profit of the Bank for the first half was Rs. 95 Crore. Read Full Story

Indian banks' loans rose 10.4 pct in two weeks to Sept. 30, says RBI
New Delhi , Oct 15 : The Reserve Bank of India (RBI) in its weekly statistical supplement released on Friday noted that Indian banks' loans rose 10.4 percent in two weeks to September 30 from a year earlier. Read Full Story

Bank of Baroda announces PV Sindhu, K Srikanth as its brand ambassadors
New Delhi , Oct 13 : India's second largest public sector bank Bank of Baroda has announced its principal sponsorship contract with Badminton Olympians PV Sindhu and K Srikanth. Read Full Story

YES BANK launches capital management solution 'YES TRANSACT: InvoiceXpress'
New Delhi , Oct 13 : India's fifth largest private sector bank YES BANK has announced the launch of a unique digital working capital management solution YES TRANSACT: InvoiceXpress. Read Full Story

Reserve Bank expecting only first cut reporting from banks, says ED, RBI
New Delhi , Oct 7 : The Reserve Bank of India (RBI) is expecting a rough, first cut reporting from banks vis-a-vis proforma Ind AS (Indian Accounting Standards) financial statements for the half year ending September by November 30 to ascertain the difficulties and problems faced by banks as part of transition to International Financial Reporting Standards from April 2018, a top RBI official said at an ASSOCHAM event held in New Delhi today. Read Full Story

Ftcash, ICICI Bank tie-up to launch UPI at 5,000+ merchant locations
New Delhi , Sep 25 : Mobile payments and loans start-up ftcash, backed by IvyCap Ventures is the first fintech startup to launch Unified Payment Interface (UPI) for merchants in association with ICICI Bank. Read Full Story

Kaspersky Lab to examine future threats to ATMs with 'Biometric skimmers'
New Delhi , Sep 23 : Kaspersky Lab experts have investigated how cybercriminals could exploit new ATM authentication technologies planned by banks. Read Full Story

Kotak Mahindra Bank launches 'Kotak Now'
Mumbai, Sept 22 : Kotak Mahindra Bank on Thursday announced the launch of 'Kotak Now', a digital account opening process on mobile. Read Full Story

Yes Bank launches digital wallet 'Yes Pay' across Android, iOS platforms
New Delhi , Aug 29 : India's fifth largest private sector bank Yes Bank has announced the launch of 'Yes Pay', a digital wallet across Android and iOS mobile platforms. Read Full Story

Bank of Baroda, CreditMantri to launch first-of-kind lending program
New Delhi, Jul 25 : Bank of Baroda has announced today that they are working with CreditMantri to launch a first of a kind credit product, wherein data from traditional and alternate data sources is used to help evaluate an applicant's credit worthiness and make a credit risk decision. Read Full Story

ICICI Bank organises Coin Exchange Mela during the 'Ratha Yatra' festival in Puri
Puri, Odisha, July 22 : ICICI Bank Ltd has organised a coin exchange mela during the 'Rath Yatra' festival at the RBI financial literacy camp in Bholanath Vidyapith. Read Full Story

ICICI Bank expands semi-urban and rural network in Karnataka; opens five new branches
Bengaluru, Karnataka, July 22 : ICICI Bank Ltd, India's largest private sector bank, inaugurated five new branches in the villages of Sagar, Channagiri, Harihar, Devadurga and Lingasugur in Karnataka. Each branch houses a 24x7 ATM at its premises. Read Full Story

ICICI Bank expands semi-urban and rural network in Karnataka; opens 5 new branches
Bengaluru, July 22 : ICICI Bank Ltd, India's largest private sector bank, inaugurated five new branches in the villages of Sagar, Channagiri, Harihar, Devadurga and Lingasugur in Karnataka. Each branch houses a 24x7 ATM at its premises. Read Full Story

Axis Bank launches "Happy Holidays Package" for globetrotters
Mumbai, July 21 : Axis Bank, India's third largest private sector bank, on Thursday announced the launch of 'Happy Holidays Package', a one stop Mobile service that offers multiple travel benefits to globetrotters. Read Full Story

Bank of Baroda observes 109th Foundation Day
Kolkata, July 20 : Bank of Baroda, Eastern Zonal Office celebrated its 109th Foundation Day on July 20. Read Full Story

Delhi HC accepts SBI's plea to restrain banks' strike
New Delhi, July 11 : The Delhi High Court has accepted the plea of the State Bank of India (SBI) to restrain the strike by its associate banks. Read Full Story

YES BANK, SIDBI ink pact for financing energy efficiency projects
New Delhi, July 8 : YES BANK, India's fifth largest private sector Bank, has signed a Memorandum of Understanding with SIDBI under the Partial Risk Sharing Facility (PRSF) for financing Energy Efficiency Projects program. Read Full Story

Kolkata: Fire breaks out at Allahabad Bank's branch
Kolkata, Jul 5 : The major fire, which break out in Allahabad Bank's branch at Exchange Place area in central Kolkata on Tuesday morning, has been brought under control. Read Full Story

SBI, World Bank sign USD 625 mn deal for solar programme
New Delhi, July 3 : The SBI and the World Bank have signed an agreement worth USD 625 million (around Rs. 4,200 crore) to support India in order to meet the mammoth power requirement while protecting the environment. Read Full Story

SBI sells 5 pct NSE stake to Veracity Investments
New Delhi, July 2 : The State Bank of India (SBI) on Saturday announced selling of five percent stake in bourse NSE to Mauritius-based Veracity Investments for Rs. 911 crore, valuing the exchange at over Rs 18,200 crore. Read Full Story

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