Posted in Banking

PMC Bank customers can not withdraw more than ₹1,000 from their accounts, says RBI

The Reserve Bank of India or RBI has put restrictions on the amount depositors of Mumbai-based Punjab and Maharashtra Cooperative Bank (PMC Bank) can withdraw from their…

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After big bang PSU banks merger, what should investors do and which stocks to buy?

The government is taking steps to accelerate the pace of reforms in August to address the slowdown in the economy. The highlight, of late being,…

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Bank merger: Government to merge 10 PSBs into four, marriage among PNB, OBC and United Bank

Sitharaman’s announcement comes on a day when GDP growth collapsed to a 25-quarter low of just 5% in Q1FY20, as consumption plunged and private investors…

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SBI, Canara Bank brainstorm on performance, way ahead

The Local Head Office of State Bank of India (SBI), Kerala, and the Regional Office of Canara Bank, Convenor of the State-Level Banking Committee (SLBC),…

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Aadhaar-enabled Payment System: How to avail banking services on NPCI platforms; all you need to know

Aadhaar-enabled Payment System (AePS) has crossed the milestone of over 200 million transactions during July this year. A total of 6.65 crore Indian citizens availed banking…

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More forced lending to NBFCs can land banks in trouble, says Fitch report

NBFC disbursements have declined steeply as a result, with knock-on effects to other sectors, particularly consumption, it noted. The recent steps by the Reserve Bank…

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How India’s Shadow Banking Crisis Sent Auto Sector Into Tailspin

MUMBAI:  HIGHLIGHTS Preliminary data shows car sales may have plunged as much as 30% in July NBFCs have slashed lending following the collapse of IL&FS…

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Aditya Birla Payments Bank to wind up

Less than two years after it was started, Aditya Birla Payments Bank is set to shut down shop. In a regulatory filing, the Vodafone-Idea combine…

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‘I’m an outsider’: Why Raghuram Rajan didn’t apply for top job at Bank of England

Former Reserve Bank of India governor Raghuram Rajan has indicated the political challenges posed by Brexit were the reasons he didn’t apply to head up the Bank of…

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50 years of bank nationalisation: Good so far, but these problems remain

The financial expertise which began the midnight of July 19, 1969 was followed up with nationalisation of six more banks in 1980. On this day,…

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