The Reserve Bank on Friday said that 93 percent of Rs 2000 currency notes that were in circulation on May 19 — the day the currency was withdrawn from circulation — have been returned to banks. Until August 31, 2023, the total value of Rs 2000 bank notes received back from circulation will be Rs
It is likely that you have seen advertisements promising guaranteed returns in the form of a monthly income after investing for a certain period of time. The ads usually say: If you invest ₹15,000 a month for 25 years, you’ll make ₹40,000. Guaranteed return plans are basically insurance plans. They sound appealing, because who wouldn’t
According to economists at Bank of Baroda, India’s central bank RBI may reduce/cut its lending rate twice in the second half of this year (FY24) after raising interest rates by 250 basis points in the last financial year (FY23). As a result, the repo rate will fall to 6%, from 6.5% currently. The economists at
A purchase agreement was entered into between First Citizens Bank and Trust Company of Raleigh, North Carolina and Silicon Valley Bridge Bank, National Association, according to the US Federal Deposit Insurance Corporation (FDIC). In a major development in the on-going US banking crisis, First Citizens has acquired Silicon Valley Bank (SVB). As per updates, the
Shaktikanta Das, the governor of the Reserve Bank of India(RBI), gave the country’s banking system a thumbs-up, stressing the importance of banking sector regulation and supervision in light of recent developments in the US. “India has a well-regulated and well-supervised banking sector. The same would apply to the NBFC sector and other financial entities under
In a move to protect the bank customers against large value cheque frauds, Punjab National Bank (PNB) to make Positive Pay System (PPS) mandatory for the cheque of Rs.10 Lacs & above from April 4, 2022. As per the Positive Pay System (PPS) developed by the National Payments Corporation of India (NPCI), a customer issuing
Achieves 469.84 million beneficiary transactions, month-on-month growth of 20.7% Registers one of the lowest technical decline rate of 0.03% as compared to all UPI beneficiary banks & 0.05% as compared to all UPI remitter banks Ranks ahead of SBI, Yes Bank, ICICI, as the leading beneficiary bank Rapidly gains traction as the remitter bank with over 15.9%
A trader cannot wish to enjoy the benefits and perks of investing in the Indian stock market without opening the Demat and trading accounts. The significance of both these accounts goes beyond what the general people realise until they enter the market. The link of a savings account, trading account and a Demat account can
3rd February 2020: Inauguration of the first digital branch of Federal Bank – ‘Fed-e-Studio ‘at Rajarhat Bhatenda was held this Monday. Dr. Mahesh K Goenka, Director, Apollo Gleneagles Hospitals Kolkata inaugurated the facility. Fed-e-Studio offers a host of banking services round the clock. Users of the facility can do fund transfers, CTS clearing transactions, cash deposit, and withdrawal,
