Tag Archives: bank

Zero Balance Savings Account: Facilities Offered By Key Lenders, India Post Payments Bank

Customers get a number of facilities such as debit and ATM cards and internet banking with BSBD account. A BSBD or basic savings bank deposit account is a type of zero balance savings account and does not require customers to maintain any particular minimum balance. Government-owned State Bank of India (SBI) and private sector lender HDFC Bank offer the facility of opening a ... Read More »

Punjab & Sind Bank hikes MCLR by 0.05% on six-month tenor

New Delhi: Punjab & Sind BankNSE -0.33 %(PSB) has hiked its marginal cost of funds based lending rate (MCLR) by 0.05 per cent for six-month tenor and lowered interest on three-year tenor by 0.05 per cent. “Our bank has reviewed the marginal cost of fund based lending rate (MCLR) for different tenors,” PSB said in a regulatory filing. The bank said these rates ... Read More »

RBI slaps Rs 1 cr fine on Yes Bank for non-compliance in Swift operations

Private sector lender Yes BankNSE -0.06 %Tuesday said the Reserve Bank of India has slapped a fine of Rs 1 crore on the bank for non-compliance of directions on SwiftNSE 4.92 % messaging software. “The Reserve Bank of India (RBI)… has levied an aggregate penalty of Rs 10 million (Rs 1 crore) on the bank for non-compliance of regulatory directions observed during assessment ... Read More »

Now, a policy to protect bank locker

MUMBAI: IFFCO Tokio General Insurance Company today announced the launch of Bank Locker Protector Policy to protect the contents of a bank locker such as jewellery and other valuables. The policy offers a cover against various risks including fire, earthquake, burglary, holdup, infidelity by a bank staff or any act of terrorism. Apart from jewellery and valuables, one can also insure important documents kept in a locker as an ... Read More »

Senior citizens, important note for you! From KYC to doorstep banking, all services that your bank has to provide

As a senior citizen, one may submit the KYC documents and Life Certificate to the bank sitting at home. With digital banking on the rise, nowadays not many bank savings account holders visit bank branches. However, not many senior citizens may be well versed with the technology and may still prefer making a visit to the bank branch for their ... Read More »

Cheaper loans not possible without deposit rate cut: HDFC Bank CEO Aditya Puri

In the last quarter, many banks had increased deposit rates fearing that there will be a liquidity crunch in the system, due to which their MCLR has also become higher. File Photo New Delhi: The Reserve Bank of India slashed repo rate, the rate at which the central bank lends money to banks, by 25 basis point earlier this month ... Read More »

Kia Motors joins hands with Axis Bank

Kia Motors on February 11 said it has tied up with Axis Bank for banking and financing solutions. As a part of this agreement, the private sector lender will now offer one-stop banking and financing solutions such as inventory funding, cash credit, auto loans and fast tags to the dealers and customers of Kia Motors. “This partnership with Axis Bank ... Read More »

RBI reduces risk weights for bank lending to NBFCs

The Reserve Bank of India (RBI) has decided to assign risk weights for the rated exposures of banks to all non-banking financial companies (NBFC) to facilitate credit flow to the sector that is reeling under liquidity pressure post IL&FS defaults in August. The guidelines will be out by February end. “With a view to facilitating flow of credit to well-rated ... Read More »

ICICI Bank loan case: CBI transfers officer for delay in probe

“There was a strong suspicion that he might leak information about the ensuing searches.” The CBI is conducting an internal inquiry into the suspected role of Superintendent of Police Sudhanshu Dhar Mishra in the alleged delay in probing the ICICI Bank loan fraud case. Mr. Mishra, the supervisory officer, was transferred from the Bank Security and Fraud Cell (Delhi) to ... Read More »

Red flags relevant but why silence in our case, ask govt bank officers

Two former CEOs of public sector banks who are now facing charges filed by the CBI. IT is not often that a Union Cabinet minister goes public to criticise the “investigative adventurism” of the CBI which is under his government’s watch. On Friday, Jaitley wrote in his blog: “Sitting thousands of kilometers away when I read the list of potential ... Read More »