Income paid by cash in the bank hits record lows, may fall further

INTEREST rates paid on almost all types of savings accounts have dropped to record lows, increasing financial pressure on millions of retirees and first home savers. New Reserve Bank data shows that term deposits, online savings accounts and bonus savings accounts are today paying about one third of the interest they were a decade ago, and forecasters More...

by Loknath Das | Published 2 days ago
By Loknath Das On Friday, May 26th, 2017
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SBI Savings Account: Tips To Avoid Penalty, Minimum Balance Rules, More

  Do you hold a savings bank account with India’s largest bank? State Bank of India or SBI now charges its savings bank account customers for not maintaining certain amounts it has set based on their branch More...

By Loknath Das On Friday, May 26th, 2017
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RBI Defies Supreme Court Order On Loan Defaulters. Here’s Why

New Delhi: The Reserve Bank of India (RBI) has refused to make public the list of loan defaulters with public sector banks despite an order of the Supreme Court in 2015 to make this information public. The case More...

By Loknath Das On Thursday, May 25th, 2017
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Blockchain driven project will not be easy to identify: HDFC Bank’s Sharad Bishnoi

“Digital transformation is the millennia” Sharad Bishnoi Senior Vice President & Head of Business Technology Group (Wholesale) at HDFC Bank says. Sharad Bishnoi being in banking sector for over 30 years, More...

By Loknath Das On Wednesday, May 24th, 2017
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Uday Kotak Sells Rs. 1,687 Crore Stake In Kotak Mahindra Bank

Mumbai: Uday Kotak, the billionaire head of India’s Kotak Mahindra Bank Ltd, sold a less than 1 percent stake in the lender in stock market transactions on Monday, complying with a central bank order to cut More...

By Loknath Das On Wednesday, May 24th, 2017
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Paytm Payments Bank launched, offers 4% interest rate on savings account

Mumbai: Paytm Payments Bank Ltd on Tuesday rolled out its banking operations. With the launch of Paytm Payments Bank, there are now three payments bank in the country, including Airtel Payments Bank Ltd and India More...

By Loknath Das On Tuesday, May 23rd, 2017
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SBI’s New Charges For ATM Withdrawals, Cheque Books, Debit Cards. Check Details

After revising service charges for various cash transactions, State Bank of India (SBI) announced that all the ATM withdrawals are not chargeable. “Rs. 25 per transaction is charged for withdrawing from State More...

By Loknath Das On Monday, May 22nd, 2017
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SBI Minimum Balance On Savings Bank Accounts: How Much Fine You Have To Pay

SBI or State Bank of India is charging a fine on savings bank account customers not meeting the average monthly balance requirement. The amount of penalty for non-compliance with the monthly average balance or More...

By Loknath Das On Monday, May 22nd, 2017
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SBI Minimum Balance On Savings Bank Accounts: How Much Fine You Have To Pay

SBI requires its savings bank account holders in metros to maintain a monthly average balance of Rs. 5,000 HIGHLIGHTS Fine on customers not meeting minimum balance requirement, says SBI Penalty will be based on More...

By Loknath Das On Monday, May 22nd, 2017
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Axis Bank Lowers Home Loan Rates

Mumbai: Taking a cue from its larger rivals, Axis Bank on Thursday announced a rate cut of up to 0.30 per cent for home loan borrowers. Under the new rates, which are effective from May 16, the rate of home loans More...