New Delhi, (IANS) : The Congress on Saturday said contrary to claims by Prime Minister Narendra Modi, the Indian economy was stagnant and investments were not coming. Citing Reserve Bank of India data, party leader and former Union Minister Jairam Ramesh said that in...
New Delhi, (IANS) : There has been nearly 23-fold increase in the number of digital payments since the November 8 demonetisation, the government said on Thursday. The transactions using various digital payment modes went up to 63.80 lakh with a total transaction value...
Mumbai, (IANS) : The Reserve Bank of India (RBI) has raised the capital requirement for asset reconstruction companies (ARCs) to Rs 100 crore, from the current Rs 2 crore, it has announced. This move was necessitated by the higher amount of cash required to buy bad...
Chennai, (IANS) : Large lenders have smartly cut their base rates to slow down the borrowers from switching to marginal cost of fund based lending rate (MCLR) and in the process protect their margins, said investment banking firm Jefferies. In a statement issued on...
Chennai, (IANS) : The All India Bank Employees' Association (Aibea) is gearing up with its suggestions on turning around ten weak banks, said a top leader. "We are preparing with our viewpoints and suggestions to be made in the discussions with the respective banks,"...
Roorkee, (IANS) : Financial literacy and awareness about digital transactions is paramount in rural India to make the cashless economy a reality, executives of mobile wallet-provider services said here at a panel discussion. In the on-going three-day tech festival at...
New Delhi: (IANS) The government will shortly announce measures to deal with the major problem of banks' non-performing assets (NPAs), or bad loans, that it has drawn up in consultation with the RBI, Finance Minister Arun Jaitley said on Thursday. "In the next few...
Singapore, (IANS) : Global rating agency Moody's Investors Service on Tuesday said that as a fall-out of demonetisation, the Non-Banking Financial Companies (NBFCs) will come under pressure for the next six months. "NBFCs in India will demonstrate broadly stable asset...
Mumbai, (IANS) : All limits on savings bank cash withdrawals post-demonetisation ended on Monday, as had been announced by the Reserve Bank of India (RBI) last month. In a two-stage process, the weekly withdrawal limit per account had been raised to Rs 50,000, from Rs...
New Delhi, (IANS) : Private sector ICICI Bank suffered the most number of frauds during the first nine months of the current fiscal, while state-run State Bank of India took second place in this regard, Reserve Bank of India (RBI) has revealed. Data pertaining to the...