India Bank News

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

RBI lifts restrictions on cash withdrawal from savings account
New Delhi, Mar 13 : All restrictions on cash withdrawal from savings bank account, which were imposed since the demonetisation scheme was announced in November last, have been removed from Monday. Read Full Story

SBI justifies minimum balance proposal, says charges levied to bear Jan Dhan costs
New Delhi , Mar. 8 : Justifying the charges which have been levied on the State Bank of India (SBI) accounts, chairman Arundhati Bhattacharya on Wednesday clarified that charges levied are necessary to compensate for operational costs incurred while managing Jan Dhan accounts and operating ATMs. Read Full Story

Kotak Mahindra Bank launches DigiLocker to eliminate use of physical documents
New Delhi , Mar 7 : Kotak Mahindra Bank (KMB) on Tuesday announced that it has become India's first bank to launch access to DigiLocker on the Bank's Net Banking platform. Read Full Story

Private banks start charging minimum Rs. 150 after free cash transactions a month
New Delhi, Mar 2 : : Some private banks have started charging a minimum amount on cash deposits and withdrawals beyond four free transactions a month, reports said. Read Full Story

Private sector banks to levy 'transaction' charges
New Delhi , March 1 : Private sector banks such as ICICI and HDFC bank have notified their respective account holders of a transactional fee, which will be applicable on the fifth transaction in a month. Read Full Story

All-India bank strike hit services across nation
New Delhi , Feb. 28 : The all-India bank strike called by the united forum of bank unions saw the participation of 10 lakh employees and officers from eight foreign banks, 18 private sectors, 27 public sector banks, 56 regional rural banks and co op banks in India. Read Full Story

Services falter as public sector banks go on strike
New Delhi, Feb 28 : No services took place at public sector banks on Tuesday as the United Forum of Bank Unions decided to go ahead with its strike, according to media reports. Read Full Story

UFBU strike to hit banking operations today
New Delhi Feb. 28 : Operations at the state-owned banks will be effected, as the United Forum of Bank Union (UFBU) has called for a day-long strike today. Read Full Story

Time to move on from demonetisation: HDFC Chairman
New Delhi , Feb. 21 : After relentless debates have been underway discussing the impact of demonetisation, HDFC Bank Chairman Deepak Parekh on Tuesday stated that it is high time this discussion ended, while casting his vote in Mumbai today in the BMC polls. Read Full Story

SBI launches generic top level domain with its website 'Bank.sbi'
New Delhi , Feb 20 : The State Bank of India (SBI) on Monday announced rebranding of its corporate website as 'bank.sbi' from earlier sbi.co.in in respect of generic Top Level Domain (gTLD). gTLD adoption that enables an organization to use its corporate name (.sbi) as their website's top-level identifier. Read Full Story

Karur Vysya Bank expands its branch network
Chennai, Feb 17 : Karur Vysya Bank on friday opened its 709th branch (overall) at Periyar Nagar in Chennai. Read Full Story

SBI enlightens Egyptian bankers on financing to MSME units in India
New Delhi , Feb. 17 : State Bank of India (SBI) on Friday played host to senior commercial bankers from Egypt at a Strategic Training Unit (STU) organized for the Egyptian bankers who were in India on a study tour on MSME units in the country. Read Full Story

Cabinet approves acquisition of subsidiary banks of State Bank of India
New Delhi, Feb 15 : The Union Cabinet, chaired by the Prime Minister Narendra Modi has approved the acquisition by the State Bank of India of its subsidiary banks namely State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore. Read Full Story

Cabinet approves acquisition of subsidiary banks of SBI
New Delhi , Feb. 15 : The Union Cabinet chaired by Prime Minister Narendra Modi has approved the acquisition by the State Bank of India (SBI) of its subsidiary banks namely State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore. Read Full Story

SBI collaborates with Korea Development Bank; launches Korea Desk in Mumbai
New Delhi , Feb 15 : State Bank of India (SBI) on Wednesday announced its collaboration with the Korea Development Bank (KDB), which was inaugurated by the State Bank's Chairman Arundhati Bhattacharya and Vice Chairman Dai Hyun Lee (KDB) in the presence of H.E. Soung-eun Kim, Consul General of the Republic of Korea for set up of a 'Korea Desk' in Mumbai. Read Full Story

Bank of Baroda inaugurates International Business Branch at Kandivali West, Mumbai
Mumbai, Feb 14 : Bank of Baroda, the leading PSU Bank spread across 26 countries and present at all leading Money Centres, has been always leading in various initiatives to serve the customers better. Read Full Story

Axis Bank invites ideas on 'Future of Jobs in India'
Mumbai , Feb.10 : Axis Bank, the country's third largest private sector bank, has launched the largest crowd-sourcing competition, 'Future of Jobs in India', seeking ideas from young minds. Read Full Story

IndusInd Bank appoints Gaurav Kapur as Chief Economist
New Delhi , Feb. 6 : IndusInd Bank announced the appointment of Gaurav Kapur as Chief Economist of the Bank, as a part of the Global Markets team, on Monday. Read Full Story

Bandhan Bank crosses 800 branches
Kolkata, Feb 2 : Bandhan Bank Ltd recently crossed 800 branches with the opening of 16 new ones across the country. Read Full Story

Banking sector looking at full tax exemption in budget
New Delhi , Jan.31 : The banking sector is expecting a reduction in tax rates as well as liberalisation in the FDI policy, as the country prepares for the announcement of the Union budget proposals for 2017-18, which will be announced tomorrow by Union Finance Minister Arun Jaitley. Read Full Story


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