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MDT/PTI 29 August 2012
Stating that there was wide variations in the interest rates on single term deposits of corresponding maturities, RBI said banks should put in place a board approved transparent policy on pricing of liabilities Mumbai: The Reserve Bank of India (RBI) has asked state and central...

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MDT/PTI 27 August 2012
Being open on Sundays is said to help bank branches attract the new-age working class customers where both the spouses in a household work and struggle to do banking transactions during the week   Mumbai: State Bank of India (SBI) may have its branches open on Sundays to help improve...

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MDT/PTI 23 August 2012
“Our bank’s FRTD (floating rate interest on retail term deposits) would allow our customers to take advantage of interest rate changes without closing and rebooking their fixed deposits,” IDBI Bank chairman and managing director R M Malla said Mumbai: State-run IDBI Bank became the first...

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MDT/PTI 23 August 2012
“Rs752,44,57,414.03 is the amount lying in all inactive (silent) accounts as on 31 March 2011 in 2,49,59,446 accounts,” telecom minister Kapil Sibal said in a written reply to Lok Sabha New Delhi: The government today said around Rs752 crore is lying as unclaimed deposits in more than...

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Moneylife Digital Team 23 August 2012
Of late, there is a disturbing trend where vacancies for officers in public sector banks are plenty but there are no takers, says an editorial in Officers’ Voice, Journal of Corporation Bank Officers’ Organisation     Corporation Bank (and other public sector banks alike) faces a new...

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Moneylife Digital Team 20 August 2012
Employees from around 47 banks are planning to go on a two-day strike on 22nd-23rd August to protest the proposed reforms in the banking sector and outsourcing of jobs   Around 10 lakh bank employees and officers working in 27 public sector banks including State Bank of India (SBI)...

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MDT/PTI 14 August 2012
Banks will have to pay the compensation at savings bank interest rate in absence of a specified rate, for delayed clearance of local cheques, says RBI Mumbai: In a big relief to the bank customers, the Reserve Bank of India (RBI) has asked all banks to compensate them for delay in...

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MDT/PTI 13 August 2012
BoB's interest rate on the 1,111 days deposits of up to Rs1 crore has been hiked to 9.15% from the earlier 8.5%   Mumbai: State run Bank of Baroda on Monday hiked deposit rates on select maturities by up to 0.65%, reports PTI.   In a statement, the bank said it is hiking...

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MDT/PTI 11 August 2012
While there will be no limit on the number of deposits that can be made in a month, basic savings bank account holders will be allowed a maximum of four withdrawals in a month, including through ATMs Mumbai: The Reserve Bank of India (RBI) on Friday asked banks to drop the “no-frills”...

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MDT/PTI 11 August 2012
“All CBS-enabled banks are hereby advised to issue only ‘payable at par’/‘multi-city’ CTS 2010 standard cheques to all eligible customers,” the RBI said in a notification Mumbai: With a view to improving customer services and speeding up fund transfer, the Reserve Bank of India (RBI)...

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MDT/PTI 10 August 2012
The government has suggested DICGC and the RBI to adopt to risk-based deposit insurance premium structure. This will be prior to the DICGC proposal for increasing insurance coverage limit from Rs1 lakh to Rs2 lakh being approved New Delhi: The deposit insurance coverage is also...

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MDT/PTI 08 August 2012
Jet's alliance with HDFC Bank comes after the airline terminated its 12-year association for co-branded credit card with Citi in May Mumbai: HDFC Bank and Jet Airways have launched a co-branded credit card, which offers a slew of benefits and rewards to frequent flyers of the country's...

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MDT/PTI 07 August 2012
The New York State Department said for almost ten years, StanChart schemed with Iran and hid from regulators roughly 60,000 secret transactions, involving at least $250 billion, and reaping the Bank hundreds of millions of dollars in fees   New York: Standard Chartered Bank...

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MDT/PTI 06 August 2012
Banks are not able to respond quickly to the changes in monetary conditions or monetary policy signals because they carry a fixed cost over an extended period of time says the RBI    Mumbai: With banks led by the country's largest lender State Bank of India (SBI) choosing to cut...

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MDT/PTI 02 August 2012
The panel headed by NABARD Chairman Prakash Bakshi will review existing credit structure and also explore ways to strengthen cooperative credit architecture in rural areas Mumbai: The Reserve Bank of India (RBI) has constituted a committee to suggest ways to strengthen the rural...

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MDT/PTI 01 August 2012
Out of the 2,541 complaints, the banking ombudsman from Kerala examined and settled most of them, leaving a mere 5.7% remaining to be closed Thiruvananthapuram: There has been a 22% increase in complaints received by the banking ombudsman in India's southern Kerala state this year,...

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Moneylife Digital Team 21 July 2012
According to the Banking Ombudsman for New Delhi, credit card users should pay their bills first and then lodge a complaint in case of a dispute with the card provider. If the bill is pending, then the customer always runs a risk of paying much more, if the judgement goes in favour of the...

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SBI raised interest rates on NRE rupee term deposits for tenors three years and less than five years from 8.75% to 9, on deposits under Rs15 lakh category Mumbai: In its bid to meet the 25% deposit growth target, the country’s largest lender State Bank of India (SBI) has revised its...

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MDT/PTI 16 July 2012
The HDFC Bank MD and CEO said only a couple of banks have increased their pricing because they were not getting traction on the savings deposits front   Mumbai: Terming the impact of Reserve Bank of India (RBI)'s decision to deregulate savings accounts rates last year as...

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Moneylife Digital Team 13 July 2012
Tata Power customers from Mumbai can now pay their bills from anywhere, anytime at their convenience using Itz Cash Card Tata Power said it is offering one more payment facility for its customers from Mumbai through Itz Cash Card.   Tata Power customers can now make their bill...

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