New Delhi: The central bank RBI has imposed fines on 14 banks for violating certain rules related to disbursement of loans. The country's largest State Bank of India is also included in these banks. Apart from this, RBI has also imposed penalty on IndusInd Bank, Bandhan Bank and Bank of...
RBI launches latest round of quarterly survey on manufacturing sector
Mumbai: The Reserve Bank (RBI) has been conducting the OBICUS of the manufacturing sector on a quarterly basis since 2008. The RBI on Tuesday said it has launched the latest round of its quarterly Order Books, Inventories and Capacity Utilisation Survey (OBICUS) of the manufacturing sector, results of which are...
RBI amended the norms to calculate interest on overdue term deposits
Mumbai: The Reserve Bank of India (RBI) has amended the norms as per which unclaimed maturity proceeds of term deposits (TDs) with banks will attract the rate of interest as applicable to savings accounts or the contracted rate of interest on the matured TD, whichever is lower. As per the...
Airtel Payments Bank hopeful of break-even in FY22
New Delhi: Airtel Payments Bank has seen a surge in business volumes in FY21 as lockdown curbs and migrants heading back to villages spurred new accounts as well as transactions, and the company is eyeing a break-even this fiscal, a top official said. Factors like growth in revenues, expanded scale...
RBI ban on new credit cards sale hit mkt share, will come back with a bang once embargo lifted: HDFC Bank
Mumbai: The bank's head of consumer finance, digital banking and information technology, Parag Rao, said that it has used the last six months to ''introspect, re-engineer and innovate'' about the cards business, where it has 15.5 million customers. The bank has lost its market share by a couple of percentage...
After the limit in SBI from July 1, ATM, branch will be charged for cash withdrawal
State Bank of India (SBI), the country's largest bank, is going to revise its charges for ATM cash withdrawal, branch cash withdrawal and check book from July 1, 2021. That is, from July 1, SBI is going to make many changes. Now charges will be levied on free four cash...
Banks will remain closed for 15 days in the month of July
New Delhi: According to the Reserve Bank of India, there are 15 days of holidays in the banks in the month of July due to weekly holidays and different festivals. There are festivals like Rath Yatra, Bhanu Jayanti, Bakrid and Ker Puja in July. Because of this, there will be...
RBI launches FY21 round of survey on ITES exports
Mumbai: The Reserve Bank on Thursday said it has launched the 2020-21 round of its annual survey on computer software and information technology enabled services (ITES) exports, results of which are used for compilation of balance of payments statistics. The RBI has been conducting this annual survey since 2002-03. It...
RBI bans DHFL from taking deposits under Pirmal mgmt
Mumbai: The Reserve Bank has revoked the deposit-taking status of Dewan Housing Finance (DHFL), the first financial services firm to go for bankruptcy proceedings, and has reclassified it as a non-deposit taking housing finance company, before approving the Piramal group''s bid to take over it towards the end of the...
HDFC to raise up to Rs 2,000 cr by issuing bonds
New Delhi: Mortgage lender HDFC Ltd will raise up to Rs 2,000 crore by issuing debt securities on a private placement basis to augment its long-term resources. The secured redeemable non-convertible debentures for an issue size of Rs 2,000 crore will be open for bid on June 14 and closes...