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Acquisition of Citibank India may get postponed till May: Axis Bank MD
Business

Acquisition of Citibank India may get postponed till May: Axis Bank MD

After the merger is complete, Axis Bank will have approximately 10.6 million active cards and 28.5 million active savings accounts

RBI to conduct pilot for digital rupee today; details here
Business

RBI to conduct pilot for digital rupee today; details here

The interbank market is anticipated to become more effective with the use of the digital rupee

Want to take pre-approved loan? Check what benefits you can get
Business

Want to take pre-approved loan? Check what benefits you can get

Notably, pre-approved loans are only available for a limited period. That’s why making a decision at the appropriate time is so crucial

These banks are offering exciting interest rates on fixed deposits during festive season; check list
Business

These banks are offering exciting interest rates on fixed deposits during festive season; check list

Among small finance banks, Ujjivan Small Finance Bank has the highest interest rates

These banks provide 7% and above interest on 3-year, 5-year senior citizen fixed deposits
Business

These banks provide 7% and above interest on 3-year, 5-year senior citizen fixed deposits

SBI has stated that senior citizens aged between 60 and 80 years will get an additional interest rate of 50 bps over applicable card rates for up to 5 years.

Post Office vs Banks: Which one is better for opening fixed deposits?
Business

Post Office vs Banks: Which one is better for opening fixed deposits?

Many people in India opt for FD schemes in banks and post offices for safe and secure returns to fulfil their future financial goals

These tax saving fixed deposits promise over 8% returns to senior citizens; details here
Business

These tax saving fixed deposits promise over 8% returns to senior citizens; details here

Before investing in the scheme, you must note that the tax-saver fixed deposits have a lock-in period of 5 years

RBI rejects 6 applications for setting up banks
Business

RBI rejects 6 applications for setting up banks

The RBI in a statement said the examination of six applications has now been completed as per the procedure laid down under the guidelines

Is there a bank holiday on Maha Shivratri? Check full list of holidays in March 2022
India

Is there a bank holiday on Maha Shivratri? Check full list of holidays in March 2022

In the month of March, banks across India will remain shut for as many as 13 days.

How API banking is creating a strong relationship between banks and fintech companies
Business

How API banking is creating a strong relationship between banks and fintech companies

Banks are now convinced that in order to extend their banking solutions and achieve true financial inclusion beyond their own channels they need strong partnership with Fintech with API

PM urges banks to support wealth and job creators, work proactively to improve India's balance sheet
India

PM urges banks to support wealth and job creators, work proactively to improve India's balance sheet

The prime minister also said that the recently set up National Asset Reconstruction Co (NARCL) would help resolve Rs 2 lakh crore of stressed assets

Economic recovery taking hold, private investment should resume, says Shaktikanta Das
Business

Economic recovery taking hold, private investment should resume, says Shaktikanta Das

Lauding tech entrepreneurs, the RBI governor said the country has emerged as a top performer in the startup landscape, attracting billions of foreign capital

DICGC asks 21 stressed cooperative banks to prepare list of account holders
Business

DICGC asks 21 stressed cooperative banks to prepare list of account holders

DICGC has also asked the banks to circulate consent forms to account holders for accessing funds up to Rs 5 lakh as per the amended law within 90 days

Western Union restarts money transfers to Afghanistan to ease financial burden on US-based Afghans' families
World

Western Union restarts money transfers to Afghanistan to ease financial burden on US-based Afghans' families

Remittances from Afghans living abroad are crucial for the impoverished country's economy and amounted to almost $789 billion last year, according to the World Bank.

Investing in Bitcoin? You may want to know about 'satoshi' before shopping
World

Investing in Bitcoin? You may want to know about 'satoshi' before shopping

Bitcoin: El Salvador embraces the cryptocurrency but not at the cost of US dollar

RBI says banks can't stop customers from dealing in virtual currencies, must not cite April 2018 order
News & Analysis

RBI says banks can't stop customers from dealing in virtual currencies, must not cite April 2018 order

A few banks in India have warned users that if they continue to deal in virtual currencies, their cards may be suspended.

Banking operations likely to be impacted today and 16 March as bank unions call for strike
India

Banking operations likely to be impacted today and 16 March as bank unions call for strike

The United Forum of Bank Unions, an umbrella body of nine unions, has called for the nationwide strike to protest against the proposed privatisation of two state-owned lenders

Stop banks from offering cashbacks on online purchases, CAIT demands in letter to Nirmala Sitharaman
Business

Stop banks from offering cashbacks on online purchases, CAIT demands in letter to Nirmala Sitharaman

The traders’ body called for immediate action to stop the practice and a thorough probe into why banks were extending discounts only on purchase from designated e-commerce portals

ICICI, HDFC Bank among others revise working hours; here is a list of new bank timings applicable across India during lockdown
India

ICICI, HDFC Bank among others revise working hours; here is a list of new bank timings applicable across India during lockdown

To ensure the safety of staff and customers, banks across the country have changed timings

Forced lending to cripple banks; NPAs to soar by up to 600 bps in 2 years: Fitch Ratings
Business

Forced lending to cripple banks; NPAs to soar by up to 600 bps in 2 years: Fitch Ratings

With incremental bank lending making up the bulk of the government's nearly Rs 21 lakh crore stimulus package, lenders face significant asset quality challenges which can increase their dud loan ratios by up to 6 percentage points over the next two years, warns a report