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Allahabad Bank Under Prompt Corrective Action (PCA)

Another Public Sector Bank (PSB), Allahabad bank is put under Prompt Corrective Action (PCA) by Reserve Bank of India (RBI) as the banks shows the net NPAs (non performing assets) and negative ROA (return on assets) for two consecutive years fiscal 2016-17. For the fiscal 2016-17, the bank had trimmed its net losses to Rs 313.51 crore against Rs […]

Banking News

Know The Financial Resolution and Deposit Insurance Bill (FRDI)

Currently there is a wide debate going on within financial sector about proposed Financial Resolution and Deposit Insurance Bill (FRDI). Main concern is on non-assurance on depositors money and bail-out of weak banks through bank deposit of different bank. Ending the debate on FRDI will, government has decided to place the proposed bill to get parliament […]

Banking News

No MDR charges on Debit Cards, BHIM UPI Transactions at Merchant PoS

Government of India has decided to waive the merchant discount rate (MDR) applicable on all debit cards, BHIM, AEPS and UPI transactions up to Rs 2,000. This decision is taken in order to boost digital payments and make it more affordable for common people and making transaction more cashless as the majority of transaction falls within this […]