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Preview: Banking-Banking/Finance-News By Industry-News-The Economic Times

Banking-Banking/Finance-Industry-The Economic Times

The Economic Times: Latest business, finance, markets, stocks, company news from India.

Last Build Date: Tue, 06 Dec 2016 11:40:35 GMT

Copyright: Copyright:(C)2016 Bennett Coleman & Co. Ltd,

Bank of Baroda cuts lending rate by 0.2%

Tue, 06 Dec 2016 11:20:45 GMT

(image) For three months, MCLR has been reduced by similar percentage points to 8.95 per cent and for six months, the rate will be 9 per cent.

Bad loan targets collateral damage amid cash crunch

Mon, 05 Dec 2016 20:09:10 GMT

(image) An added concern on recovery targets is that many employees at banks and borrowers will be going on a year-end break in the second half of December.

Weak bank support may drive farmers to web of traders, private moneylenders

Mon, 05 Dec 2016 19:50:10 GMT

(image) Rural economy experts feel that the declining farm credit from institutionalised players and restrictions on the ops of co-op banks may throw farmers at the mercy of private money lenders.

Banks resort to cash rationing amid shortage; ATMs run dry

Mon, 05 Dec 2016 16:57:57 GMT

(image) Customers started lining up outside branches since wee hours at many places to withdraw their salaries for paying monthly bills and meeting other requirements.

Cap on charge-free ATM withdrawals a policy decision: RBI to High Court

Mon, 05 Dec 2016 12:08:11 GMT

(image) "It is a policy decision. Why should the court interfere in it? They (petitioner) are challenging the circular of the RBI. I am challenging the maintainability of this plea."

Yes Bank partners Ola to set up 30 mobile ATMs in 10 cities

Mon, 05 Dec 2016 11:27:22 GMT

(image) The Point of Sale (PoS) enabled ATMs will be stationed in Ola cabs from where customers of any bank can withdraw the amount, Yes Bank said.

We need Rs 500 notes to end bank queues: SBI

Mon, 05 Dec 2016 09:55:20 GMT

(image) "Out of this, at least Rs 3-4 lakh crore should move to the digital or online medium," Kumar added at the Inclusive finance India Summit here.

Banking services will go digital: State Bank of India

Mon, 05 Dec 2016 06:43:47 GMT

(image) 'Demonetisation is the biggest push. The biggest beneficiary is digital banking," State Bank of India MD Rajnish Kumar said at the two-day Inclusive Finance India Summit.

Common QR code for payments soon

Mon, 05 Dec 2016 05:07:35 GMT

(image) While Paytm, which has gone all-out to acquire merchants, also allows payments using a QR code, it is a closed-loop system. What it means is that only Paytm members can transact and money travels within its network.

Harried bankers want to shut shop till there’s enough cash

Mon, 05 Dec 2016 02:11:39 GMT

(image) Bank employees have a difficult time explaining to customers why they run out of cash and the RBI must divulge its strategy on handling the current crisis.

Cardmakers' order books swell on government, RBI push for debit and credit cards

Mon, 05 Dec 2016 01:39:10 GMT

(image) While bigger banks are driving the major demand, even smaller co-operative banks have placed orders for plastic cards.

Mobile banking platform for basic feature phones in works; telcos told to support tech

Sun, 04 Dec 2016 19:11:56 GMT

(image) A key feature of the Digital India drive would be to encourage users of such elementary handsets to try out mobile banking, said a source.

Mumbai’s Kalbadevi now trades with a new currency

Sat, 03 Dec 2016 05:57:20 GMT

(image) There’s no cashless revolution in sight in the old market, which transacts in thousands of crores, but most businessmen are silently managing their trade.

RuPay card usage jumps 118 per cent in 1st week of demonetisation

Fri, 02 Dec 2016 16:29:36 GMT

(image) According to RBI data, the usage of RuPay card at POS terminals soared by as much as 200.6 per cent to 46.6 lakh transactions during November 9-15.

I-T department finds Rs 1.64 crore undisclosed income in Jan Dhan accounts

Fri, 02 Dec 2016 16:24:00 GMT

(image) The department has detected the suspicious activity in these accounts in banks in Kolkata, Midnapore, Ara (Bihar), Kochi and Varanasi.