New Delhi : An ex-Governor of the Reserve Bank of India (RBI) had pointed to the risks in the practice of political parties promising loan waivers during poll campaigns to the Election Commission, Parliament was informed on Friday. In a written reply submitted to the...
New Delhi : All 650 branches of India Post Payments Bank (IPPB) are expected to be launched by April 2018, Communications Minister Manoj Sinha said on Wednesday. The Reserve Bank of India (RBI) granted licence to carry on payments bank activities on January 20, 2017...
Mumbai : State-run State Bank of India (SBI) on Monday announced a hefty reduction in its lending base rate from the New Year by 30 basis points (bps), to 8.65 per cent per annum. With this reduction from the earlier base rate of 8.95 per cent, SBI's base rate has...
New Delhi : Over 22,700 cases of transaction frauds related to "Credit Card, ATM or Debit Cards and Internet Banking" have been reported in 2017-18 till December 21, Parliament was informed on Friday. Electronics and Information Technology Minister Ravi Shankar Prasad...
New Delhi : In a move expected to coax banks to lower their deposit rates, the government has reduced the interest rates on small saving schemes, including National Savings Certificates (NSCs), Public Provident Fund (PPF) and Kisan Vikas Patra (KVP), by 0.2 percentage...
Mumbai : The Indian banking sector has been classified under 'Group 5' along with countries such as Italy, Spain, Ireland, the UAE and South Africa by rating agency Standard & Poor's (S&P) on the basis of their economy and industry risk criteria, the American...
New Delhi : Scheduled commercial banks including "select financial institutions" lost Rs 16,789 crore due to frauds in 2016-17, Parliament was informed on Friday. Minister of State for Finance Shiv Pratap Shukla told the Lok Sabha, in a written reply, that the Reserve...
New Delhi : The Congress on Thursday hit back at Prime Minister Narendra Modi on his charge that banks were forced to give loans to select industrialists during UPA rule, saying bad loans increased in his regime. The Congress also demanded a probe by independent...
New Delhi : Emphasising a dramatic increase in digital transactions in the country, Minister of State for Electronics and IT K. J. Alphons on Tuesday said the transactions are expected to touch 1,800 crore in the current fiscal from 1,162 crore transactions recorded...
Mumbai : In its penultimate monetary policy review of the fiscal, the Reserve Bank of India (RBI) on Wednesday maintained status quo on key lending rates citing concerns over the rising trajectory of inflation. It retained the economic growth projection for the...