HDFC Bank on July 13, said it has launched a UPI QR code interoperable with India’s digital rupee or central bank digital currency (CBDC.) With this, it becomes the first commercial lender in India to do so. With this, customers and merchants can make payments using digital rupee through this UPI QR code. “HDFC Bank today announced the launch of UPI QR code interoperable," said HDFC in a statement.
Courtesy: News 18
Ahead of the HDFC Bank-HDFC merger, HDFC Chairman Deepak Parekh, on June 30, formally announced his retirement. In his last message to the shareholders, he exuded confidence that the synergies between HDFC Bank and the group companies will deepen with the bank taking on the mantle of ownership of the group. “The HDFC experience is invaluable. Our history cannot be erased and our legacy will be taken forward," said Parekh.
Courtesy: News 18
The Reserve Bank of India (RBI) concluded its bimonthly monterary policy meeting, and announced a major relaxation for people. Considering inflation above the 4% target, the RBI Governor Shaktikanta Das led MPC decided to keep repo rate unchanged at 6.5%, Standing Deposit Facility Rate remains at 6.25%. Marginal Standing Facility Rate and Bank Rate unchanged at 6.75%. More announcement into the meeting is awaited.
Courtesy: Live Mint
The interest rates on Bank of Baroda's fixed deposits (FDs) up to Rs 2 crore have increased. After the adjustment, the general public's FD interest rate may increase to 7.25 percent. Seniors who deposit money with the Bank of Baroda might earn up to 7.75 percent on their fixed deposits. The new rates are coming into effect today, May 12, 2023, confirmed sources.
Courtesy: Zee News India
State Bank of India Cards & Payment Services has revised the charges and fees of the SBI Credit Card. The new SBI Credit Card charges will be levied with effect from 17 March 2023. The company sent an email to all customers, regarding the same. From 17 March 2023, SBI Processing Fee will be revised from Rs 99 plus applicable taxes to Rs 199 plus applicable taxes, confirmed email.
Courtesy: Zee News India
The Reserve Bank of India hiked the repo rate by 25 basis points to 6.5%, on February 8. Governor Shaktikanta Das announced the decision of the monetary policy committee of six members, taken with a majority of 4 votes. In December 2022, the repo rate was raised by 0.35 percentage points to 6.25%. While repo rate hiked, there was no change in the reverse repo rate of 3.35%.
Courtesy: Hindustan Times
In Maharashtra the non performing asset (NPA) improved with an increased credit score of the farmers, after the Maharashtra Government announced a loan waiver scheme. Amid COVID-19 pandemic, agriculture was the only sector to show highest growth. As per bankers and agriculture, finance experts, State witnessed both short and long term finances were increased by the banks. Notably, in 2020 NPA reduced to 18% with outstanding Rs 1.30 lakh.… read-more
Courtesy: The Indian Express
The Reserve Bank of India (RBI) imposed a fine of Rs 1.8 crore on the Punjab National Bank and Rs 30 lakh on ICICI Bank. The amount has been penalised for deficiencies in regulatory compliances under the Banking Regulation Act, 1949. In an official statement, RBI said, the PNB held more than 30% shares in borrowers companies, whereas in the case of ICICI Bank, they violated compliance rule.
ATM withdrawal charges have been increased to Rs 21 from Rs 20 per transaction after the monthly limit. As per the Reserve Bank of India (RBI) circular, the increased transaction hike will be in effect from January 1, 2022. Individuals can do five free transactions from their own bank's ATMs each month. The limit for other banks' ATMs is three in metro centers and five in non-metro centers monthly.
Courtesy: Times Now News
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
Courtesy: United News Of India