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A leading news paper has reported that digital eWallet Payment Bank PayTm is now entering in the Point of sales (PoS) terminal business plan and is planning to roll out PoS machines at merchant outlets across the country. PoS terminal business will open card payments addition to QR payment at merchant locations as well for PayTm. Paytm […]
PNB, Syndicate Bank & Union Bank of India may come under RBI’s prompt corrective action (PCA). ET has reported that Reserve Bank of India imposes restrictions on these lenders in the next one month probably by this quarter (30th June). PCA involves imposition of various restrictions such as branch expansion, halting dividend payments, taking fresh loan proposals […]
Recent Media reports stated that Union Minister of State for Home, Hansraj Ahir had issued a letter to Ashutosh Salil, DM of Chandrapur district in Maharashtra asking him to stop annual salary increment of those branch managers who have not completed their target to sanction the MUDRA loans. This letter was issued on June 6 […]
Now GST on Mutual Fund Exit Load & Credit Card Dues – The government informed that interest charged on outstanding credit card dues, finance lease and exit fees paid by mutual fund investors will be taxable under GST. Further, interest levied on loans are not taxed, any additional interest for delayed payment has also been kept […]
New RBI Governor Shri Mahesh Kumar Jain – IDBI Bank CEO & MD Shri Mahesh Kumar Jain appointed as the Deputy Governor of Reserve Bank of India (RBI). The government on Monday appointed IDBI Bank Ltd chief executive officer Mahesh Kumar Jain as a deputy governor of the Reserve Bank of India (RBI) for three years. […]
Public Secotr Bank’s (PSB) merger talks started again – The government is planning to merge four state-owned banks, namely India’s third-largest PSU bank by assets Bank of Baroda, Central Bank of India, IDBI Bank and Oriental Bank of Commerce. Government is thinking differently as there are more than nine banks are under RBI’s PCA. With […]
Bank’s MCLR Rates Hike – Top three lenders in India SBI, ICICI, PNB bank has raised their MCLR lending rates by 0.1% making loans costlier for consumers. Increased Interest Rates are effective from 01st June. MCLR (marginal cost of funds based lending rate) is the interest rate whichis applicable mainly on Housing and Car Loan. With […]
NPCI’s UPI based payment platform BHIM & Rupay along with SBI apps is now launched in Singapore for remittance. Prime Minister Mr. Narendra Modi had launched these three Indian mobile payment apps in Singapore at a business event aimed at internationalization of the country’s digital payment platform. This is the start of Globalization of Indian […]
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