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Indian Banking system is currently focused under the cloud of merger and each day started with a fresh rumor. Now Finance Ministry has asked the larger big four Public Sector Bank i.e. Bank of Baroda, Canara Bank, Bank of India and Punjab National Bank to look after the possibility of merging of small and mid […]
Government in India has made Aadhaar Number mandatory for opening Bank accounts and conducting any financial transaction of more than Rs 50,000. They have not mentioned the type of financial transaction. Government has also set deadline of December 31st as the last date for seeding individual Aadhaar with account number. This is the another requirement […]
National Payment Corporation of India (NPCI) has today announced that they are prepared to launch Rupay Credit very soon within a month. RuPay Credit card announced by NPCI will be used within India for any transaction except the select version of Credit Card which will be accepted internationally. Rupay Credit card will provide banks a […]
Finance Ministry, Government of India has announced the deadline for additional four public sector bank (PSB) merging by December this year. This time they have picked Punjab National Bank (PNB), Bank of Baroda (BOB) , Bank of India (BOI) and Canara Bank as the larger entity and possible acquirers. Recently these these banks along with […]
Government is propagating New Idea for Merging the Public Sector Bank on each new day. This time they have floated the concept of region wise merging of Public Sector Banks (PSB). As Finance minister already intimated that they would start the consolidation and merging of Public Sector Bank without any waiting time or financial reform, the […]
Government of India, Ministry of Finance has hinted today that next round of Public Sector Bank merger is coming very soon, where few of Public sector bank will be merged for better consolidation. This may be done before the 11th Bipartite Settlement of bank employees. Government also stated that they lost their patience and wanted […]
The government has banned cash transactions of Rs. 2 lakh or more from April 1, 2017, through the Finance Act 2017, Now Cash transactions of over Rs. 2 lakh entail levy of 100% penalty on receiver of the amount. It means payee of the money through cash transaction will be penalized by 100% of the […]
Kotak Mahindra Bank chairman, Uday Kotak has said that why Government is unnecessary putting Taxpayer Good money for bad strategic loan of Public sector bank. He further said that the government will have to choose between putting more money into public sector banks or making some ‘strategic’ decisions for these lenders besieged by rising bad […]
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