Bank

Unions threaten strike over pending wage revision in IDBI Bank

AIBEA and AIBOA have jointly written a letter to the MD and CEO of the bank THIRUVANANTHAPURAM, SEPT 5:   Bank employees and officers’ unions have expressed deep concern over the long-pending wage revision in IDBI Bank. The All India Bank Employees’ Association (AIBEA) and All India Bank Officers’ Association (AIBOA) have jointly written a letter to the MD & CEO ... Read More »

Rs. 200 Notes Notified, Likely To Be Introduced Soon

Rs. 200 notes could make their debut soon with the government notifying the new currency note. Experts say Rs. 200 notes will significantly ease transactions. “In exercise of the powers conferred by sub-section (1) of section 24 of the Reserve Bank of India Act, 1934 and on the recommendations of the Central Board of Directors of the Reserve Bank of ... Read More »

27 Percent of Small Business Owners Use Same Bank Account for Business and Personal (Infographic)

Managing finances is a key priority for small businesses. Yet many business owners make financial mistakesthat may cost them dearly. For example, a new study has revealed 27 percent of small business owners use the same checking account for personal and business finances. Downsides of Using the Same Bank Account for Business and Personal While it may seem easier to consolidate all ... Read More »

Let some banks die: Subbarao

KOLKATA. AUGUST 23:   Duvvuri Subbarao, former Governor of the Reserve Bank of India, on Wednesday said consolidation of banks is necessary to strengthen the banking system, and the government should be bold enough to “let certain banks die” in the process. “Consolidation should be done keeping in mind the interest of minority shareholders and bring in greater autonomy for banks. ... Read More »

Top loan defaulters owe 27% of total amount to SBI alone

HIGHLIGHTS As many as 1,762 wilful defaulters owed Rs 25,104 crore to State Bank of India as on March 31 Punjab National Bank is next on the list with 1,120 wilful defaulters having bad loans of Rs 12,278 crore RBI has allowed banks to name and shame wilful defaulters by publishing their photographs NEW DELHI: Country’s largest lender SBI accounts for over ... Read More »

HDFC Bank cuts savings account interest rate by 50 bps: As rates fall, it’s time you shift to liquid funds

HDFC Bank on Thursday announced slashing interest rate on savings accounts starting this Saturday, joining a spate of banks who underwent the similar exercise in recent weeks. According to the bank, customers who maintain a savings bank account balance of Rs 50 lakh and above will continue to earn interest rate at 4 percent per annum. Similarly, customers having a ... Read More »

Finally, PayPal Allows Instant Transfers to Bank Accounts

PayPal (NASDAQ:PYPL) users in the U.S. will soon be able to instantly transfer money to their bank accounts and have the cash show up in minutes. This is in contrast to the three to five business days it currently takes the popular payment platform to process funds.  U.S. users will be able to move the money via eligible debit cards ... Read More »

Govt to initiate PSU bank consolidation process after Q1 numbers

The government in February had approved the merger of these five associate banks with SBI. Photo: Hemant Mishra/Mint New Delhi: The finance ministry is expected to initiate the process of consolidation of public sector banks (PSBs) once the first quarter results of the current fiscal have been announced, a senior official has said. There are various things including financial performance which ... Read More »

High-end Livestreaming that Won’t Break the Bank

Cheaper and better — it’s a combination every small business owner loves hearing, but researching reliable B2B products or services to genuinely make tasks cheaper and better is far from easy. Overwhelmed by the time required to do research, small businesses will do DIY experiments with what’s affordable in video marketing. But ultimately, low-quality video and wasted time make those ... Read More »

In debt with cancer: Is your bank listening?

Tracy Jameson was diagnosed with ovarian cancer last year Some cancer sufferers who phone the Macmillan support line want to talk about death, and the process of dying. But for 25 times as many patients, it’s not their health they want to discuss. It’s their finances. Macmillan’s research shows that most cancer suffers are nearly £7,000 a year worse off ... Read More »