PM Modi Says Rs. 1.75 Lakh Crore Under Scrutiny Post-Notes Ban

New Delhi: Vowing to continue the crackdown on black money, Prime Minister Narendra Modi on Tuesday said that over Rs. 1.75 lakh crore was deposited in banks post note-ban and more than 18 lakh people with disproportionate income were under government scrutiny. Addressing the nation from the ramparts of the Red Fort on the 71st Independence Day, More...

by Loknath Das | Published 19 hours ago
By Loknath Das On Wednesday, August 16th, 2017
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Banks’ Association Calls For Unions Meet To Avoid August 22 Strike

Chennai: In an attempt to avert the nationwide bankers’ strike on August 22, the Indian Banks’ Association (IBA) and the Chief Labour Commissioner have called the United Forum of Bank Unions (UFBU) More...

By Loknath Das On Wednesday, August 16th, 2017
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PM Modi Says Rs. 1.75 Lakh Crore Under Scrutiny Post-Notes Ban

New Delhi: Vowing to continue the crackdown on black money, Prime Minister Narendra Modi on Tuesday said that over Rs. 1.75 lakh crore was deposited in banks post note-ban and more than 18 lakh people with disproportionate More...

By Loknath Das On Wednesday, August 16th, 2017
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Banks’ Association Calls For Unions Meet To Avoid August 22 Strike

Chennai: In an attempt to avert the nationwide bankers’ strike on August 22, the Indian Banks’ Association (IBA) and the Chief Labour Commissioner have called the United Forum of Bank Unions (UFBU) More...

By Loknath Das On Tuesday, August 15th, 2017
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Ensure Safety Of Customers’ Lockers: RBI To Banks

New Delhi: The Reserve Bank has asked banks to ensure customers’ lockers remain safe and there is “no negligence” that could render banks liable to claims by locker holders, Parliament was informed More...

By Loknath Das On Monday, August 7th, 2017
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Indian Bank Sets Target Of Gross Bad Loans Under 5% By March

Mumbai: Indian Bank is looking to bring down its gross non-performing assets (NPAs) to below 5 per cent by March from over 7 per cent in the June quarter on the back of better recoveries, upgrades and write-offs, More...

By Loknath Das On Monday, August 7th, 2017
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Canara Bank Hits Overseas Bond Market With $400 Million Issue

Mumbai: State-run Canara Bank is in the international bond market with a $400-million issue as part of its $2-billion medium term note programme. “Canara Bank is in the international debt market with a benchmark More...

By Loknath Das On Saturday, August 5th, 2017
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After SBI, Bank of Baroda cuts interest on savings account by 50 basis points

Within days of SBI slashing interest rate on savings bank account, another PSU bank — Bank of Baroda — has followed suit, cutting it to 3.5% on deposits of up to Rs 50 lakh. “We wish to inform you More...

By Loknath Das On Thursday, August 3rd, 2017
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RBI reduces policy rate: Will your loan rates also go down?

As expected on August 2, in the third bi-monthly monetary policy statement, the Reserve Bank of India cut the policy rate by 25 basis points (bps) from 6.25% to 6%. One basis point is one-hundredth of a percentage More...

By Loknath Das On Wednesday, August 2nd, 2017
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SBI cuts interest rates for savings accounts by 0.5% to 3.5%

New Delhi: India’s largest lender SBI on Monday announced a 0.5 percent (50 basis points) cut in interest rates for savings bank deposits, effective immediately. According to the new structure, for saving More...