India Bank News

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

Arun Jaitley launches India Post Payments Bank, terms it as taking banking to every doorstep
New Delhi , Jan. 23 : Union Finance Minister Arun Jaitley, along with Minister of State for Communications Manoj Sinha, on Monday launched the India Post Payments Bank (IPPB) at two pilot branches at Raipur and Ranchi through video conferencing from Delhi. Read Full Story

Bank of Baroda offers 'Debit Card EMI' to savings bank account holders
New Delhi, Jan 25 : Bank of Baroda has launched EMI-purchase finance product for its savings account customers and the product is positioned as Debit Card EMI. Read Full Story

Kotak Mahindra Bank Q3 profit up 39 pct, asset quality improves
New Delhi , Jan 25 : Largest private sector lenders Kotak Mahindra Bank on Wednesday announced its profit on standalone basis up by 38.6 percent year-on-year to Rs. 880 crore in October-December quarter. Read Full Story

HDFC Bank Q3 profit rises 15 pct to Rs. 3865 crore, loan growth at 13.5 pct
New Delhi , Jan 24 : HDFC Bank on Tuesday announced a growth in its profit in the third quarter, which grew by 15 percent to Rs. 3,865.3 crore compared with Rs. 3,356.84 crore in year-ago period. Read Full Story

SBI-led consortium of banks moves SC in Aircel-Maxis case
New Delhi , Jan. 24 : The consortium of banks led by the State Bank of India (SBI) moved the Supreme Court today in the Aircel-Maxis case, as they want to to be heard by the top court ahead of any decision on banning Aircel's 2G spectrum. Read Full Story

Canara Bank Q3 profit jumps nearly four-fold after asset quality weakens
New Delhi , Jan 20 : Public sector lender Canara Bank on Friday posted its Q3 results of October-December quarter, which increased 279 percent to Rs. 322 crore compared with Rs. 85 crore in year-ago period. Read Full Story

Bank of Baroda inaugurates transaction related SMS service in 12 Indian languages
Mumbai, Jan 20 : Bank of Baroda celebrated World Hindi Day at its Corporate Office in Mumbai. Read Full Story

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 : 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 : 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


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