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MDT/PTI 27 June 2012
The top hundred centres, arranged according to the size of deposits accounted for 69.4% of the total deposits   Mumbai: Bank deposits grew 17.3% to Rs5.81 lakh crore in the quarter ended December 2011 from a year ago, data from RBI showed, reports PTI. While, credit over the same...

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Moneylife Digital Team 26 June 2012
Chairman and managing director HS Upendra Kamath inaugurated 100 branches in FI villages of Mandya district in Karnataka   Bangalore: Vijaya Bank has announced opening of 171 ultra small branches in a single day under the Financial Inclusion (FI) villages initiative in different parts...

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Moneylife Digital Team 26 June 2012
Depositors parking money in the 271-364 days maturity will be paid interest of 8.75% per annum against the earlier rate of 8.25%   Mumbai: In a surprising move, the South-based private sector lender Lakshmi Vilas Bank announced a 0.50 percentage point increase in deposit rates in a...

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The RBI should also implement measures to avoid UK-like incidents happening here More than 12 million bank customers in the UK were in for a surprise last week when they found that they could not operate their accounts due to malfunctioning of banks’ software, resulting in a chaos at...

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Moneylife Digital Team 25 June 2012
The Finance Ministry expects around 60,000-80,000 white-label ATMs to roll out in the next six to eight months   New Delhi: Non-banking entities, which have been allowed by RBI to operate ATMs on behalf of banks, are expected to open 60,000-80,000 automated teller machines in the next...

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Moneylife Digital Team 21 June 2012
The RBI has given an in-principle approval to Morgan Stanley India to enter commercial banking. So far, Morgan Stanley has been an investment banker in India. The permission is a big coup for Morgan Stanley India chief executive officer Dr PJ Nayak, who is credited with building Axis Bank...

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Moneylife Digital Team 21 June 2012
The RBI said all rural branches of banks will have to impart financial literacy. This move comes after the central bank found Financial Literacy and Credit Counselling Centres (FLCC) were located in the urban and semi-urban areas. “Banks may consider setting up need based FLCs in other...

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Moneylife Digital Team 20 June 2012
Karnataka Bank has made a mockery of RBI’s recent directive deadline to put up names and addresses of unclaimed and inoperative accounts. What about your bank? Check out and let us know If you thought that the recent Reserve Bank of India’s (RBI) directive to banks would make it easier for...

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MDT/PTI 19 June 2012
Pre-paid cards, which are convenient alternatives to cash and cheques, are mainly issued by banks and Non-Banking Financial Companies (NBFCs)   Mumbai: Making life easier for people, the Reserve Bank of India (RBI) has allowed holders of pre-paid payment cards, to deposits school and...

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MDT/PTI 19 June 2012
Consumers in the US can use the WesternUnion.com website to send money to family and friends in India using their bank accounts without incurring a transfer fee   Mumbai: Global payment service provider Western Union announced a money-saving option for people in the US who want to...

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MDT/PTI 18 June 2012
Having a bank account for every family will help the government and its agencies to use it for electronic fund transfer of wages, salaries or payments to suppliers.   Mumbai: In an ambitious move, the Finance Ministry has instructed all the lenders to ensure that at least one person...

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MDT/PTI 18 June 2012
While SBI cut lending rates for SME and agriculture loans ahead of RBI policy, there is no immediate change in the home loan and auto loan Mumbai: Days ahead of the Reserve Bank of India (RBI) reviewing the interest rate, the country's largest state-run lender State Bank of India (SBI)...

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Moneylife Digital Team 16 June 2012
According to the RBI data, since March 2010, the number of zero balance accounts in India has doubled to 103.2 million while banking outlets increased to 1.47 lakh The number of no-frills or zero-balance account holders more than doubled to 103.21 million in the year to 31 March 2012...

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SBI chairman said he expect the central bank to cut CRR by 1% to ease liquidity and lower interest rates New Delhi: Amid economic slowdown and contracting growth in the manufacturing sector, the country's largest lender State Bank of India (SBI) said it expects 1% cut in cash reserve...

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MDT/PTI 15 June 2012
Banks would factor in the availability of funds before deciding on reducing fixed deposit rates Mumbai: Mid-size public sector banks would wait till the mid-term policy review by the Reserve Bank of India (RBI) before taking a call on reducing interest rates on fixed deposits (FDs), top...

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MDT/PTI 14 June 2012
  The threshold limit in RTGS System transactions has been cut to Rs1 lakh from existing Rs 2 lakh until 9th June Mumbai: The Reserve Bank of India on Friday said it has cut down the threshold limit in Real Time Gross Settlement (RTGS) System transactions to Rs1 lakh from existing Rs...

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MDT/PTI 14 June 2012
  According to the NHB chairman home loan rates are likely to come down by 25-50 basis points in the current financial year, given the probability of reduction in policy rates Mumbai: Housing finance regulator National Housing Bank (NHB) has received nod from the Foreign Investment...

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MDT/PTI 14 June 2012
    Over past 10 years, the Bank's reconstruction scheme did not make much progress mainly due to non-fulfillment of commitments for contribution to revival fund by UCBs and poor track record of recovery including from Ketan Parekh New Delhi: The Reserve Bank of India has...

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MDT/PTI 14 June 2012
  RBI deputy governor Dr Chakrabarty said he do not know how much growth sacrifice is due to lack of productivity, lack of efficiency, and how much is it due to inflation Mumbai: Reserve Bank of India (RBI) deputy governor Dr KC Chakrabarty on Friday sought to stave off criticism...

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MDT/PTI 14 June 2012
Dr KC Chakraborty got an extension for three months, even as a proposal to extend his tenure by two years is pending before the Appointment Committee   New Delhi: The government has extended the tenure of Reserve Bank of India (RBI) deputy governor Dr KC Chakraborty by three months,...

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