Opinion | Why India needs to promote savings culture

Photo: iStock A senior citizen recently remarked that these days banks only contact you for loans as compared to 3-4 decades back when banks reached out to customers to garner deposits. I couldn’t agree more. Whenever I visit any ATM, I find advertisements of various types of loans, especially personal loans and home loans. Seldom does one find More...

by Loknath Das | Published 1 month ago
By Loknath Das On Thursday, September 6th, 2018
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Post Office Savings Account Vs IPPB Regular Savings Account: 5 Things To Know

Deposits in a Post Office Savings Scheme account and an IPPB account earn an interest rate of 4% Want to open a savings bank account at the post office? For opening a regular savings account, you have two options. India More...

By Loknath Das On Monday, September 3rd, 2018
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Cash still the king. Cash savings highest in a decade

The surge in cash savings at the cost of deposit growth has helped prop up financial assets, according to RBI. Demonetisation seems to have had no impact on cash savings by the Indian household, Savings are again More...

By Loknath Das On Monday, September 3rd, 2018
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This week in banking: Cash remains the king post demonetisation, says RBI

Whether demonetisation was a success or failure, today, cash remains the king as there is more of it in the economy than there was on November 8, 2016. Indian households are saving more now, a large part being More...

By Loknath Das On Monday, September 3rd, 2018
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Explained: Post office savings accounts vs India Post Payments Bank account

All of India’s 1.55 lakh post offices will be linked to the IPPB system by December 31, 2018. (Photo: GettyImages) On Saturday, Prime Minister Narendra Modi launched the India Post Payments Bank (IPPB). More...

By Loknath Das On Monday, July 9th, 2018
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Banking: No Longer Business As Usual

Many believe we are in the midst of a fourth industrial revolution. The first industrial revolution (18th and 19th centuries) moved us from a prominence of farming to a more industrial existence and the introduction More...

By Loknath Das On Monday, July 9th, 2018
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CBI looks for banking, tax experts to help probe into multi-crore scams

Some former top RBI officials are also under the scanner of the CBI for alleged financial frauds. NEW DELHI: The Central Bureau of Investigation (CBI), which is probing the over Rs 13,000 crore Punjab National More...

By Loknath Das On Monday, July 9th, 2018
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Better banking ahead

With major public sector banks posting hefty losses in the midst of rising non-performing assets, the process of cleaning up of balance sheets has reached the tipping point. Efforts to detoxify balance sheets  of More...

By Loknath Das On Saturday, June 30th, 2018
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LIC gets Irdai nod to buy 51% stake in IDBI Bank: Report

Insurance Regulatory and Development Authority of India (Irdai) on Friday permitted Life Insurance Corporation of India (LIC) to buy up to 51 per cent stake in the debt-ridden IDBI Bank Ltd, sources said. The decision, More...

By Loknath Das On Thursday, June 28th, 2018
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Quarter million still using password cards to log into online banking

Bank password cards will soon be a thing of the past in Estonia. Source: (Aili Vahtla/ERR) Approximately 250,000 people in Estonia are still using password cards exclusively for authentication when logging More...