Indian Banking & Finance News
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Due to the lockdown, most of the services, offices are closed. However, because of the essential services, banks are open. Although they have closed some of their branches and reduced the staff too. People are working from home and only essential and important services are available. The working hours has also been reduced. All the … Read more Banks will remain closed due to the pandemic outbreak for 15 days
According to the reserve bank of India, banks are given the guideline to provide a three month moratorium on the repayment of term loans. And due to this, the State bank of India has initiated the procedure. The SBI tweeted-“Good news for borrowers! The bank has decided to extend the moratorium for payment of instalments/ … Read more Want to apply for SBI extension? Here’s how you can do it
10 Public sector undertaking banks will get amalgamated into 4 banks from 1st April and there are many things you need to know about this merger. Let us read it here. 1- The Indian bank will get merged with Allahbad Bank. 2- Oriental bank of commerce and United bank of India will get merged into one … Read more Merger done of 10 public sector bank will come into effect from 1st April. Here are the things you need to know.
The Country’s largest lender, State bank of India has warned people against the fake UPI ID that is being circulated for collecting the covid-19 funds. The Prime minister has requested everyone to get donate some funds for the coronavirus outbreak. Now because of this, few fake UPI ID is being circulated for fraud. The PIB … Read more SBI warned public against the fake UPI ID
As the lockdown of 21 says is going on, the biggest bank, the Reserve bank of India has decided to go ahead with the merger plan of around 10 state run banks into the four large banks from 1st April. The mega bank consolidation plan is effected and it will start from the 1st April. It is … Read more RBI says- Mega merger of PSU banks come to the force from 1st April
Due to the shutdown battle of covid-19, everything is close. However, banks are still working. The state bank of India has announced that the special payments will be transferred to the staff that is working during 21 day shutdown as well. SBI has decided to pay one day salary for every six days a week … Read more SBI employees will get the extra pay of 21 days
Finally, the India’s largest lender state bank of India has lowered down their interest rates linked to the external benchmarks by 75 basis points and cut its deposit rates to 20-100 bps too. The bank said that the external benchmark linked lending rate and repo linked lending rate will stand at 7.05% and 6.65%. and … Read more SBI has finally lowered their lending rate by 75 BPS. Read it here
In order to save people from coronavirus outbreak, the Indian bank has asked the banks to open only few branches in every area so that people can stay at home. The IBA, all Indian bank association has requested all the state level bank and district manager to consult with the state administration and simply shut … Read more Banks are going to close some branches due to covid-19
Since Coronavirus is a world outbreak today, people are securing their lives and the government and banks are also helping them as much as they could. The Syndicate bank and the Indian bank has also announced their safety measures for employee and customers due to the outbreak going. The Syndicate bank said that ATM, door … Read more Indian bank to announce the safety measures due to COVID-19
Due to the breakdown going in the country, Bank of Baroda has announced the zero charges on all the digital transactions for almost 3 months in order to provide a better banking experiences to all their users. Bank of Baroda has asked their customers to stay home, stay safe and for making any transaction, do … Read more Bank of Baroda to announce zero charges on digital transaction for 3 months
Due to the spread of coronavirus, private sector banks like ICICI and HDFC banks have asked their users to use digital means of transactions for making any transactions and they also have reduced their staff in their offices. HDFC bank has totally changed their working hours and it will begin at 10am everyday to 2pm … Read more Due to COVID-19, HDFC reduces their working hours
On Saturday, the reserve bank of India has stated that they have extended the regulatory restrictions on Punjab and Maharashtra Cooperative bank for more three months till June 22nd,2020. The bank had out a restriction of six month on the bank on 23rd September,2019 as they got to know about the financial irregularities. The RBI said- … Read more RBI imposed Regulatory restrictions on PMC bank extends to 22nd June
Terms like internal liquidity position of bank, repo rate and other economic conditions are the things that determine the fixed rates of any bank. Banks like State bank of India, ICICI Banks, HDFC Banks, Kotak mahindra bank, Axis bank are offering the fixed deposit rates that are ranging from 7 days to 10 years. Fixed … Read more A quick comparison of SBI fixed deposit rates with HDFC
The government of India has finally banned all the international flights to keep the country safe for a week from 22st March. It is being done to curb the spread of Coronavirus which is the biggest pandemic in the world now. The government said-“No scheduled international commercial passenger aircraft shall be allowed to land in … Read more Airlines suffering from loss due to ban
According to the Moneylife, the bank, Bank of Maharashtra has finally withdrawn a circular that is urging the staff for viewing the COVID-19 pandemic as a business opportunity in order to sell the insurance products. On this, finally the bank issues an apology for their statement and the backlash and hatred they got on social … Read more Due to the COVID-19 pandemic, Bank of Maharashtra is faxing an ire of business opportunity