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IANS 12 February 2024
The central board of trustees of the employees' provident fund organisation (EPFO) has recommended an interest rate of 8.25% on Provident Fund deposits for 2023-24.   At present, the interest rate is 8.15%.   “The move is a step towards fulfilling PM Modi’s guarantee of...

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Sponsored Post 17 October 2023
In the ever-evolving landscape of the banking industry, financial institutions continuously introduce enticing offers and incentives to attract customers. Exciting features are now available in the market even for products like savings accounts.   Since our savings account is...

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IANS 10 August 2023
As predicted by economists, the Reserve Bank of India's Monetary Policy Committee (MPC) did not change the repo rate from 6.50%.   Announcing the decision of the MPC after its three-day deliberations, RBI governor Shaktikanta Das said on Thursday that the committee unanimously decided...

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When I was a trainee in Hong Kong, I used to attend the weekly meetings of branch managers, purely as an observer. These meetings gave me an insight into the Bank’s corporate culture.   Most of the attendees were HK-Chinese branch managers, and the rest were British managers who...

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The impasse between the Rajasthan government and doctors, who were on strike for 16 days against the Right to Health bill, ended on Tuesday as both sides came to an agreement.   Consensus was reached between doctors and the government on eight demands on the Right to Health (RTH) Bill...

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IANS 14 January 2023
Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday reiterated that crypto currencies are equivalent to gambling, as their perceived value is only make believe.   Addressing a media event here, Das called for a ban on cryptos, saying there is no underlying value in it....

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IANS 02 January 2023
Noting that there is turmoil in crypto assets market, the Reserve Bank of India (RBI) has suggested a framework for international regulation of such crypto activities.   In it's financial stability report, which was released on 29 December 2022, the central bank has said that "the...

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IANS 02 January 2023
Efforts to connect the poorest of the poor with banks are underway throughout the country, so that the amount of subsidies provided by the government can go directly to their bank accounts. However, it is surprising that 4,837 branches of several banks have been closed in the past two...

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IANS 16 December 2022
Cyber criminals allegedly withdrew cash ranging from Rs7,000 to Rs24,000 from as many as 147 accounts in different banks in Dhanbad district of Jharkhand by using the fingerprints of account holders after cloning them. Complaints regarding the matter have been made to the cyber police as well...

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IANS 21 October 2022
The Competition Commission of India (CCI) on Thursday approved the acquisition of 10% stake in Yes Bank Limited by CA Basque Investments.   The proposed combination pertains to CA Basque acquiring up to 10% of the total paid up share capital and voting rights of Yes Bank, by way of...

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IANS 17 August 2022
Taking prompt action against online fraud, the state crime branch of Haryana police on Wednesday said it has managed to freeze Rs30 lakh transaction that had been siphoned off by a cyber fraudster from a company in Panchkula.   In addition, the cyber team has also assisted the victims...

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Moneylife Digital Team 08 August 2022
Customers of registered credit bureaus can now approach the Reserve Bank of India (RBI) for faster resolution of their credit scores and related complaints. Credit information companies (CICs), more commonly known as credit bureaus, will be included under the central bank’s integrated...

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Moneylife Digital Team 27 July 2022
The amount of unclaimed deposits is on the rise despite repeated public awareness campaigns undertaken by the Reserve Bank of India (RBI) and the banks.   RBI is now encouraging people who have not claimed their deposits to reach out to the respective banks for such deposits....

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Moneylife Digital Team 21 June 2022
Private sector lender Yes Bank on Tuesday announced the launch of floating-rate fixed deposit (FD) for domestic customers. In this new product, the interest rate will keep fluctuating based on the changes in repo rate, allowing the customers of the Bank to enjoy dynamic returns on their fixed...

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Moneylife Digital Team 04 June 2022
A minority shareholder group of 11 shareholders, constituting  a total shareholding of around 13.67%, has called for an extraordinary general meeting (EGM) flagging concerns about the working of Dhanalaxm Bank. The causes for calling this meeting, as stated by those requisitioning the EGM,...

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Moneylife Digital Team 01 June 2022
According to the just-released Reserve Bank of India's (RBI) annual report, during FY21-22, 79,669 fake notes of Rs500 were detected, which is 101.9% higher in comparison to FY20-21’s figure of 39,453 notes. On the other hand, 13,604 fake notes of Rs2,000 were detected in FY21-22, 54.6%...

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Moneylife Digital Team 09 November 2021
Banking malware threats are sharply increasing as cybercriminals target the rising popularity of mobile banking on smartphones, with plots aimed at stealing personal banking credentials and credit card information, says a report.   The Nokia 2021 Threat Intelligence Report, based on...

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Moneylife Digital Team 18 August 2021
In a path-breaking judgement the Gondia District Consumer Disputes Redressal Commission has directed the State Bank of India (SBI) to reverse the disputed transaction of Rs18.36 lakh into the customer's bank account.   The Commission even directed SBI to recover the money from the...

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Moneylife Digital Team 14 August 2021
The Reserve Bank of India (RBI) has cancelled licence of Panvel-based Karnala Nagari Sahakari Bank as the bank does not have adequate capital and earning prospects. RBI says 95% of depositors of the bank will receive full amounts of their deposits from Deposit Insurance and Credit Guarantee...

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Moneylife Digital Team 11 August 2021
Indian banking customers are being targeted by a new type of phishing attack using the ngrok platform (a web service provider). The malicious actors have abused the ngrok platform to host phishing websites impersonating internet banking portals of Indian banks. Using these phishing websites,...

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