New Delhi: In line with the Reserve Bank of India's (RBI) guidelines, Airtel Payments Bank on Sunday announced that it has become the first payments bank in the country to enable Rs 2 lakh day-end balance account limit. The bank has increased the day-end balance limit to Rs 2 lakh...
SBI takes service charge of 300 crores from zero balance accounts in 5 years: study
According to a study by IIT Bombay, in five years of 2015-20, SBI has taken service charges of about Rs 300 crore from zero balance accounts. Of this, a service charge of 72 crore was collected in 2018-19 and a service charge of Rs 158 crore in 2019-20. SBI also...
HDFC Bank’s business growth impressive despite technical glitches and outages
The Reserve Bank of India (RBI) has banned the acquisition of new credit card business at HDFC Bank due to technical glitches and outages in the last 2 years, despite these restrictions, the bank's business growth has been impressive. HDFC Bank said that in the March quarter, the bank recorded...
RBI’s monetary policy review will decide the stock market move
MUMBAI: The domestic stock market recorded an upward trajectory last week amid rising concerns over the week-end rise in key indicators of the Schwick level and the rise in new cases of Corona. Due to this, however, the stock market had seen a huge decline during the last two weeks....
Yes Bank ties-up with GVFL
Mumbai: To broaden its services for the start-up sector, the lender Yes Bank has tied-up with GVFL Limited. Accordingly, the two companies have entered into a Memorandum of Understanding (MoU) to strengthen Fintech-led innovation and support the growth of the Indian startup ecosystem. "The MoU will enable the bank to...
RBI postpones changes in auto debit-credit for 6 months
New Delhi: The Reserve Bank of India (RBI) has deferred for six months the changes in OTT subscription, auto payment of bills or auto debit in the country from 1 April. In view of the inconvenience caused to the people regarding the new structure, the RBI has taken this step....
Now you will be able to send dollars through net banking!
RBI Governor country is now fully prepared to deal with any crisis. New avenues should be created in the financial sector regarding service delivery in an effective manner. Regarding this, RBI Governor Shaktikantha Das called for the need for effective regulation that helps instead of discouraging innovation in the fintech...
IDBI Bank deposits Rs 25 lakh towards Recovery Expense Fund
New Delhi: IDBI Bank on Saturday said it has deposited Rs 25 lakh towards Recovery Expense Fund (REF) with its designated exchange NSE. In October last year, markets regulator Sebi had asked listed companies, proposing to list debt securities, to set up REF so that action could be taken by...
Penalty of Rs 2 crore imposed on SBI
New Delhi: The Reserve Bank of India has imposed a penalty of Rs 2 crore on the country's largest bank SBI. According to an official statement released on 16 March, SBI had not completed certain regulatory compliance due to which it incurred penalty. The RBI imposed this penalty by issuing...
RBI rejects Yes Bank’s proposal to set up ARC
New Delhi: The Reserve Bank of India has rejected the proposal of the public sector YES Bank to set up an Asset Reconstruction Company (ARC) to address the problem of bad loans. Last September, Yes Bank sought RBI approval to launch the ARC and it was expected to be operationalized...