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IANS 20 February 2016
New Delhi : The Indian government clarified on Friday that the implementation of the Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS) will not entail reporting of all fixed deposits and auto sweep facilities in pre-existing savings bank...

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Moneylife Digital Team 18 February 2016
While demanding action by government on several long pending demands, INBEF, the banking unit of INTUC, has also proposed a loan restructuring scheme for farmers   The Indian National Bank Employees Federation (INBEF), banking wing of INTUC said it will hold a day long dharna at...

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Dr B Yerram Raju Dr B Yerram Raju 04 February 2016
Banks collect and use client data for better targeting. They should also reduce operational costs by using technology and pass on the benefit to customers   I recall what Greg Baxter, global head of digital strategy at Citigroup mentioned almost a year back (reported in Financial...

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Chennai : Around 21 lakh cheques worth about Rs.16,000 crore could not be cleard on Friday owing to bankers strike against the violation of bilateral settlement by five associate banks of the State Bank of India (SBI), said a top leader of employees union.   According to All India...

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Chennai : Nearly 340,000 bank employees across the country will strike work on January 8 to protest the implementation of the new Career Progression Scheme (CPS), a leader of the All India Bank Employees' Association (AIBEA) said here on Thursday.   He said the strike will be in...

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IANS 28 December 2015
Around 340,000 bank employees across the country would strike work on January 8 to protest the violation of bilateral settlement by the five associate banks of the State Bank of India (SBI), a top leader of All India Bank Employees' Association (AIBEA) said here.   The five associate...

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IANS 27 November 2015
Multinational banking major HSBC on Friday announced its decision to exit private banking business in India while offering its existing clients the HSBC Premier, a global retail banking and wealth management proposition.   There will be no loss of jobs because of the closure decision,...

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IANS 26 November 2015
The All India Bank Employees Association (AIBEA) said on Wednesday it has deferred the all India bank strike proposed for December 1-2.   Bank employees under the banner of State Sector Bank Employees Association (SSBEA) are opposing imposition of the career progression scheme of the...

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Gurpur Gurpur 19 October 2015
Despite all media hype and excitement over RBI's repo rate cut, the common man is in for a rude shock, as interest rates on all savings schemes are also being reduced to the detriment of savers, who have no say in these matters   Kudos to Reserve Bank of India (RBI) for its Diwali...

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Moneylife Digital Team 16 October 2015
File the forms before your bank interest reaches Rs10,000 for the financial year   With effect from 1 October 2015, you can file Form 15G (non-senior citizen) and 15H (senior citizen) electronically, after duly verifying through an electronic process for procedures, formats and...

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The ICICI Bank on Thursday launched a service enabling customers to make electronic payments from their smartphones at physical stores, e-commerce portals, radio taxis and utility billers, among others, without swiping a debit card.   The service is based on 'mVisa', a new mobile...

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MG Warrier MG Warrier 30 September 2015
Those who have invested their savings with a long term perspective considering the security and liquidity concerns, should not be given a shock   The major monetary policy announcement made by Reserve Bank of India (RBI) on 29 September 2015 is a reduction in the policy repo rate...

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Moneylife Digital Team 04 September 2015
Private banks offer better rates on savings than PSBs   Bandhan Bank, the newest commercial bank to be launched in mid-August, offers 4.25%pa on savings account for deposits below Rs1 lakh and 5% for deposits above Rs1 lakh. While the rate is better than public sector banks (PSBs)...

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IANS 02 September 2015
Except SBI and IOB, banking operations in about 75,000 branches across the country is affected due to the nationwide strike called by trade unions   The nationwide strike in the banking and insurance sector on Wednesday has begun on a very encouraging note signifying total success, a...

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Moneylife Digital Team 01 September 2015
Due to the strike call given by unions on 2 September 2015, banking activities including clearing operations will be affected besides hampering normal banking activities across the country   Almost 10 lakh bank employees and officers from public sector banks (PSBs), private sector...

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Moneylife Digital Team 21 August 2015
Banks now tweaking their offerings along with cutting rates   After the Reserve Bank of India (RBI) deregulated interest rates on savings accounts in October 2011, Yes Bank, Kotak Mahindra Bank and IndusInd Bank have been attracting customers with higher interest on savings account...

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Moneylife Digital Team 29 July 2015
A Moneylife Foundation survey reveals gross mis-selling by banks. Over 83% of the participants were coerced to buy insurance   All regulators repeatedly emphasise that intermediaries such as a distributors and agents should ensure that they sell only products that are suitable to each...

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Providing unsolicited credit cards, or enhanced credit limits without a customer’s request, is improper   There has been a dramatic growth in credit cards issued by various banks in the past 15 years. With growing competition to garner more customers, banks showered customers with...

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Moneylife Digital Team 10 July 2015
Will it entice savers?   Axis Bank is the first bank to launch non-callable fixed-deposits (FD). Reserve Bank of India (RBI) had come out with the norms allowing banks to offer differential rates on FDs. Regular FDs allows premature withdrawal after seven days with or without a...

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Moneylife Digital Team 30 June 2015
Considering the high costs levied by private banks for bank lockers, most respondents to Moneylife’s Survey preferred to go with a public sector banks   Moneylife conducted an online survey to study user perception on bank lockers. The survey, which closed on 20 March 2015, obtained...

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