Tag archive for ‘Bank’
By Loknath Das On Monday, April 29th, 2019

Kotak Bank cuts interest rate on select saving accounts

Kotak Mahindra Bank on Friday reduced the interest rate on savings accounts with balance of up to Rs 1 lakh by 50 basis points (bps) to 4.5% per annum. The new rates will be effective from April 15, 2019. While More...

By Loknath Das On Friday, April 26th, 2019

Savings accounts compared: SBI vs Bank of Baroda vs ICICI vs HDFC Bank

A savings account is one of the basic financial products that everyone must have. All the major banks including State Bank of India (SBI), Bank Of Baroda (BoB), Kotak Mahindra Bank, HDFC and ICICI Bank offer More...

By Loknath Das On Tuesday, February 26th, 2019

Bank Accounts: 4 reasons why you must close your idle savings accounts

Although savings accounts do not have any annual maintenance charges, their linked-debit cards mostly come with annual fees. The steady penetration of banking services has led to a large section among middle More...

By Loknath Das On Wednesday, January 9th, 2019

India to retain status as fastest growing major economy in 2019-20: World Bank

Fuelled by policy reforms and rebound in credit, India’s economy is forecast to expand by 7.5 per cent during the 2019-20 fiscal year and retain its position as the fastest growing major economy in a world More...

By Loknath Das On Monday, December 17th, 2018

Jana Small Finance Bank Raises Interest Rates On Fixed, Recurring Deposits

Jana Small Finance Bank’s FD and RD interest rates will come into effect from Friday.   Jana Small Finance Bank, a small finance bank, on Thursday announced an increase in its interest rates on term More...

By Loknath Das On Friday, October 5th, 2018

State Bank of Mauritius’s Indian branch is the third domestic bank to be the victim of a cyber-attack in 2018

On 3 October, SBM Group, the parent company of the State Bank of Mauritius, announced that its Indian operations had suffered a cyber-attack the day before, and that as much as $14 million could have been siphoned More...

By Loknath Das On Monday, September 3rd, 2018

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 Friday, August 24th, 2018

Riyadh to seek $11bn in bank loans after Saudi Aramco IPO stalls

Mohammed bin Salman, Saudi Arabia’s crown prince, is seeking an economy less dependent on oil © Bloomberg Saudi Arabia’s sovereign wealth fund is primed to choose international banks to lend it $11bn, More...

By Loknath Das On Monday, August 13th, 2018

After hitting new record low, Turkish lira pares some losses on central bank statements

Yasin Akgul | AFP | Getty Images People check currency exchange rates at a currency exchange office on August 11, 2018 in Istanbul. The Turkish lira retraced some losses after touching a new record low in Asia’s More...

By Loknath Das On Thursday, July 5th, 2018

Unsecured Loans Grew Four Times the Bank Credit in Last Three Years

Mumbai: Unsecured bank loans have grown four times the bank credit during the past three years, helped by a rise in discretionary spending, technology-driven disbursements and lower interest rates, says a report. Unsecured More...