Only 5 Free ATM Transactions From October, Punjab National Bank Says

New Delhi: PNB customers will have to shell out money beginning October if they carry out more than five transactions a month from the bank’s ATMs. At present, account holders of the country’s second largest public sector bank can make any number of transactions in a month, financial or non-financial, at the bank’s ATMs without attracting More...

by Loknath Das | Published 2 weeks ago
By Loknath Das On Monday, September 11th, 2017
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RBI Says No Machines Being Used In Its Offices For Counting Scrapped Notes

New Delhi: The Reserve Bank of India (RBI) has said counting machines are “not being used” for tallying the total number of demonetised notes of Rs. 500 and Rs. 1,000 in any of its offices, according More...

By Loknath Das On Friday, September 8th, 2017
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Savings rate cut: These banks are still offering 6% interest, here’s a look

The savings account rate is at its lowest in six years, which is directly affecting small savers. Latest entrant in the list of banks reducing rates is Canara Bank. On Friday, the bank cut the interest rate of More...

By Loknath Das On Tuesday, September 5th, 2017
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Singaporean Bank DBS Finally Gets WoS Licence

Mumbai: Three years after it applied to turn itself into a wholly-owned subsidiary (WoS), Singaporean lender DBS on Monday said the RBI has given it the nod, which will help it do away with growth constraints it More...

By Loknath Das On Tuesday, September 5th, 2017
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RBI Has Directed Resolution Of 12 Accounts By December: Axis Bank

New Delhi: Axis Bank today said the Reserve Bank has asked it to finalise the resolution plan for 12 accounts by December 13, failing which insolvency proceedings will have to initiated against them. In a regulatory More...

By Loknath Das On Tuesday, September 5th, 2017
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Nationalised Banks Exempted From CCI Approval For Mergers

New Delhi: Paving way for fast-tracking consolidation in PSU banking space, the government has exempted mergers of nationalised banks from seeking fair trade watchdog CCI’s approval. This exemption will be More...

By Loknath Das On Sunday, September 3rd, 2017
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Punjab National Bank To Cut Minimum Lending Rate From September

New Delhi: Punjab National Bank has cut marginal cost based lending rates by up to 0.25 per cent for select maturities, effective tomorrow. The state-owned lender has also slashed its base rate by 0.20 per cent More...

By Loknath Das On Thursday, August 31st, 2017
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Public Bank Mergers Will Need Fresh Cash Infusions: Report

New Delhi: The Union Cabinet’s decision to speed up the merger of public sector banks (PSBs) will not improve their weak capitalisation without capital infusion from the government, Moody’s Investors Service More...

By Loknath Das On Thursday, August 31st, 2017
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Lenders Look To Offload At Least 30% Stake In Jaiprakash Power Ventures: Report

Mumbai: Creditor banks of Jaiprakash Power Ventures Ltd are seeking bidders to buy a stake of at least 30 percent in the Indian power producer, the majority of which they jointly own, a banker involved in the sale More...

By Loknath Das On Thursday, August 31st, 2017
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RBI Seeks To Steer More Companies To Bankruptcy Court: Report

Mumbai: The Reserve Bank of India (RBI) has asked banks to send at least 20 companies that defaulted on their debts to bankruptcy court if their problems are not resolved by about mid-December, a senior banker More...