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Latest Banking News & Financial updates from around the web. Daily updates on Global Banking News, Financial Markets, Economy and News from the different banks.
Dena Bank is Bank number elevan under prompt corrective action (PCA). Allahabad Bank, United Bank of India, Corporation Bank, IDBI Bank, UCO Bank, Bank of India, Central Bank of India, Indian Overseas Bank, Oriental Bank of Commerce and Bank of Maharashtra are aready placed under Reserva Bank of India’s Prompt Corrective Action. Read – What is Prompt Correction […]
Current Account opening Process & Guidelines with Banks – Know the Bank’s guidelines and process of Opening Current Account with Banks. The Reserve Bank of India guidelines and other important details. What is Current Account ? Current account are non interest-bearing bank account for business transactions. Customers can open current accounts with any banks for general […]
The revised gratuity amount of Rs 20 lakhs is payable to bankers since 29th March 2018. The ministry of labour and employment vide gazette notification dated 29th March 2018 has raised the ceiling on the amount of gratuity payment under section 4 of the Payment of Gratuity Act, 1972 from existing Rs 10 lakhs to […]
Reserve Bank of India (RBI) has listed out the 11 Public sector banks on their watchlist and monitoring their performances. According to central bank, these 11 weak PSBs out of the 21 State-owned banks are under the PCA, which kicks in when banks breach regulatory norms on issues such as minimum capital, amount of non-performing assets […]
Debt ridden Public Sector UCO bank has filed the fraud allegation charges against their former CMD & CEO Ajay Kaul in Rs 621 Crore loan fraud. Based on the FIR filled by UCO bank, CBI has booked the formed CMD in fraud cases and conducted searches in at least 10 places, eight of which are in […]
RBI has imposed a penalty of Rs 3 crore on IDBI bank for non-compliance to the Income Recognition and Asset Classification (IRAC) norms. RBI has informed the bank vide its letter dated April 10, 2018, a monetary penalty of Rs 30 million on the Bank in exercise of the powers…for non compliance with the directions issued […]
If we may believe on a report by brokerage firm Nomura Financial Advisory Services, the time is ripe for Kotak Mahindra Bank to buy Axis Bank. Bank could be a potential acquisition target after its board accepted managing director Shikha Sharma’s plea to cut her fourth three-year term to seven months under RBI pressure. Shikha Sharma, who […]
State Bank of India (SBI) chairman Mr. Rajneesh Kumar has batted for the privatization of some of the state running Public Sector Banks. Although he raised the concern on the timing. He said that the time, though, is not right at present, because these banks would need time to be strengthened and one has to […]
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