Repo Rate To Remain Unchanged: RBI Governor Shaktikanta Das
Reserve Bank of India (RBI) Governor Shaktikanta Das, on December 8, announced that the repo rate will remain unchanged. "Consequently, the policy repo rate remains unchanged at 4% and the stance remains accommodative as long as necessary to revive and sustain growth on a durable basis" said Das. Furthermore, the marginal standing facility (MSF) rate and reverse repo rate at 4.25% and 3.35%, respectively, also remained unchanged.
Tags: RBI, RBI GOVERNOR, MSF, repo rate, Bank
Courtesy: The Hindu
Union Bank Of India Reduces Home Loan's Interest Rate To 6.40%
Union Bank of India announced to decrease the interest rates of Home Loans on October 26, thereby becoming the most competitive in the industry. As per sources, the interest rate now starts at 6.40%, and will be effective from October 27. Furthermore, clients applying for new loans, or wishing to transfer existing loans, including balance transfer will be eligible under the new interest rate.… read-more
Tags: Indian Banks, Bank, LOANS & INTERESTS, Home Loan, Interest Rates
Courtesy: United News Of India
IIM-A & Bank of America Collaborate To Launch Digital Transformation Center
With the increase of digital consumption especially due to the impact of Covid-19, the Indian Institute Of Management Ahmedabad (IIM-A) and Bank of America have decided to collaborate together to launch a digital transformation center. It aims to enhance the understanding of the digital ecosystem and leadership for digital transformation. “It becomes imperative that we study the impact of this digital transformation on business, government,… read-more
Tags: DIGITAL TRANSACTIONS, Bank, Data Centers, IIM
Courtesy: The Indian Express
RBI Lifts Ban, Allows HDFC To Issue New Credit Cards
The Reserve Bank of India (RBI) granted partial relief to HDFC on August 17 by lifting a ban on issuing new credit cards following eight months ban. However, the bank will still be barred from launching new technology initiatives until further orders from the RBI. Earlier in December 2020, the RBI imposed both the bans as it received several complaints of ''technological outrages at the lender.''
Tags: RBI, HDFC, Credit Cards, Ban, Bank
Courtesy: LatestLY
Banks To Face Penalty If ATMs Run Out Of Cash
The Reserve Bank of India (RBI) has directed all banks and White Label ATM operators to ensure timely replenishment of ATMs to avoid cash-outs and inconvenience to the public. A penalty of Rs 10,000 will be imposed on failing to do so. According to the new rule, "cash-out at any ATM of more than 10 hours in a month" will be subjected to the penalty.
Tags: Bank, Reserve bank of India, ATM, cash-out
Courtesy: Jagran English
Ex Employee Kills Manager In An Attempt To Loot Bank
A former bank manager in Maharashtra's Palghar district stabs the current manager Yogita Vartak and injured the cashier Shweta Devrukh on July 29 in a narrow attempt to loot the bank. Reportedly, at the time of the attempt to a robbery around 7:30 pm, only two employees were present. Meanwhile, Devrukh got injured and Vartak succumbed to injuries. Police have arrested the accused and an investigation is ongoing.
Tags: Bank, Loot, Palghar, Bank Manager, murder
Courtesy: India Today
RBI Guv Shaktikanta Das Discusses Liquidity Crunch With Small Banks
Concerning liquidity crunch and alarming balance sheet stress, RBI governor Shaktikanta Das chaired an online meeting on April 30 with several small finance banks. The meeting attended by deputy governors, including MK Jain and MD Patra, discussed about current economic scenario while laying stress on the credit flow. Das insisted banks to improve IT systems while emphasising on risk management. Notably, COVID-induced lockdown has affected… read-more
Tags: RBI, Bank, Covid-19, Lockdown, Small finance banks, Shaktiman Das
Courtesy: LiveMint
RBI Extends Bank's Deadline For Auto Debit Payments By Six Months
The RBI has extended the deadline for banks failing to adhere to the regulator’s new e-mandate guidelines for recurring payments till September 30. According to the 2019 RBI notification, banks are required to seek approval from customers before auto-debit transactions. Citing it a move to protect customers against fraudulent transactions, RBI earlier fixed it to roll from April 1. Moreover, the banking regulator also asked them to comply or… read-more
Tags: RBI, India, Bank, Regulation, Auto Debit Transaction, Recurring payments
Courtesy: Business Standard
Bank Of Baroda To Launch Banking Services On WhatsApp
Bank of Baroda is going to launch its banking services on WhatsApp to make the services simple for its customers. The 24X7 services will include balance inquiry, cheque book request, debit card blocking, and information and registration of banking products. The customers have to send a ‘Hi’ on the bank’s WhatsApp Business A/c No. 8433888777 to inquire or initiate the service.
Tags: BANK OF BARODA, WhatsApp, Bank, Banking services
Courtesy: Moneycontrol
RBI Axes License Of Karad Janata Sahakari Bank; Assures Depositors Of Pay Back
The RBI has cancelled the license of Maharashtra-based Karad Janata Sahakari bank citing bankruptcy. However, the banking authorities said that over 99% will be paid fully against their deposits, but will fail to pay its present depositors in full. The RBI also stated that on the event of liquidation, the paybacks will have monetary ceiling of Rs Five lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of… read-more
Tags: RBI, business, Maharashtra , Bank, Karad Janata Sahakari Bank, Co-operative
Courtesy: The New Indian Express