Page 941 - Finance News

Expect your household budget to shoot up: Going cashless comes at a cost

When you start using digital payment options, your household budget is likely to shoot up

Punjab National Bank cuts deposit rates by upto 0.25%

The public lender has reduced interest rates in select maturities by 10-25 basis points on term deposits

Foreign exchange reserves down $1.19 billion

Foreign currency assets, a major component of overall reserves, dipped $1.155 billion to $342.772 billion

Cash-stuffed banks grapple with storage, hike cover

The problem of currency accumulation is acuter in smaller and rural branches, which are running short of staffs

Co-op banks approach RBI as PSBs limit cash flow to them

There are 1,579 cooperative banks across the country and they have 10,000 branches and close to 3,000 ATMs

IDFC Bank facilitates cashless transactions at local mandi

Visitors were given tokens of various values against electronic payments made, which they could use to buy vegetables

C V R Rajendran new MD & CEO for Catholic Syrian Bank

Currently he is the Chief Executive Officer of the Association of Mutual Funds in lndia

RBI issues Small Finance Bank license to ESAF

Becomes the first bank in Kerala to be given approval since independence

Over 8,100 wilful defaulters owe Rs 76,685 cr to banks

To recover loans from such defaulters, banks have filed 1,724 FIRs with a total outstanding of Rs 21,509 crore in FY16

Reliance Home Finance plans to garner Rs 3,500 crore via NCDs

NCDs cannot be converted into stock and usually offer higher interest rates than convertible debentures

Others follow suit: ICICI, HDFC Bank, Canara, United Bank cut FD rates by up to 1%

The lowering in fixed deposit rates may herald reduction in lending rate as well in the next few days.

After State Bank of India, ICICI & HDFC Bank slash deposit rates

Bankers said rates are expected to reduce by up to 50 bps over the next few months

RBI lifts restriction on FPI investment in bonds

Step was first announced in the Union Budget 2016-17

Banks see surge in card usage; demand jumps for PoS terminals

RBI data for August said there were 1.46 million PoS machines, compared to 712.46 million debit cards in circulation

Banking funds to gain from demonetisation

Robust performance to continue due to Casa windfall, loan growth and rural growth

Demonetisation: Indelible ink use is eyewash, says Bank staff union

BEFI said banks had no idea where from they would collect indelible ink or who would supply it

Banks getting back to normal, queues getting shorter, says ICICI CEO on demonetisation

Chanda Kochhar said ICICI has been the first bank to provide currency notes of Rs 2,000, Rs 500 and Rs 100 simultaneously at its ATMs

Demonetisation: ICICI, HDFC Bank cut deposit rates by 0.25%

Lowering deposit rates may herald reduction in lending rate as well in the next few days

HDFC Bank's Puri ranked 36th in Fortune's top bizmen list

According to the magazine, HDFC bank delivered $1.9 billion profits under Puri last year

Bad news for FD investors: SBI, Kotak HDFC slash deposit rates

Fixed deposit investors, beware. Government's decision to replace Rs. 500 and Rs. 1,000 notes them with new currency notes may spell bad news for FD investors