City: New Delhi The consolidation in the banking sector – merger of weak public sector banks with stronger lenders – is unlikely by the first quarter of FY20 as the government is learnt to have developed cold feet. According to finance ministry officials, with elections round the corner decisions on bank mergers and consolidation have […]
Category: Business
Hyderabad: Bank officers have threatened a one-day national strike on December 21, seeking various benefits and opposing the merger of rural banks, and proposed consolidation of public sector banks. ‘We have urged IBA on January 13, 2016 to expedite the process of wage revision. Despite several reminders from the government, negotiations have commenced only on […]
Anxious that provisioning requirements for stressed assets will go up, bankers are understood to have asked the Reserve Bank of India (RBI) to relax the rules for out-of-court resolutions as envisaged in the central bank’s February 12 circular. Heads of public sector banks (PSBs) who recently met with RBI governor Shaktikanta Das suggested the threshold […]
Alert! Aadhaar Returns: Govt amends law as now Aadhaar will be mandatory for new SIM, bank accounts After the Supreme Court’s decision to restrict the private companies to use Aadhaar card, the government will now amend the law which is tabled in the parliament. The BJP government has planned to amened the law wherein the […]
The open offer has been made at a price of Rs 61.73 a share, which is in connection with LIC’s acquisition of 51 per cent controlling stake in IDBI Bank. State-owned IDBI Bank Tuesday said it has received final letter from Life Insurance Corporation (LIC) for an open offer to acquire additional 26 per cent […]
Irdai has relaxed its directive for compulsory personal accident cover for owner-driver under motor insurance policies If a vehicle owner has a general personal accident cover, then it is no longer mandatory to buy another cover along with a vehicle insurance. The insurance regulator has relaxed its directive issued on September 20, 2018 for the […]
New Delhi, Dec 18: A total of 3,196 cases of Goods and Services Tax (GST) evasion amounting to Rs 12,766 crore have come to light in the first eight months of the current financial year, the Ministry of Finance said on Tuesday. Also, more than Rs 7,900 crore has been recovered during April-November 2018. “During […]
Mutual fund investment can help you generate a corpus worthy of your life’s work and the earlier you start investing, the better it would be for you. Retirement is generally termed as the second innings of our lives. A relaxed, worry-free life after years of hard work and toil. It’s in this phase of your […]
Managing a bank account comes at a cost. This is why all banks expect their customers to maintain a Monthly Average Balance or MAB and failing to do so, penalise them. The Monthly Average Balance is the sum of all the EOD closing balance divided by the number of days in that month. The value […]
Even the merger of Bank of Baroda, Dena Bank and Vijaya Bank, announced in September, will only be completed by June 2019, a senior govt official said. New Delhi: The next round of consolidation among state-run banks is unlikely to happen in the Narendra Modi government’s current tenure, extending India’s wait to have a few […]