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  • Tuesday, July, 2019| Today's Market | Current Time: 10:12:22

    • Banking

    RBI slaps Rs 26 lakh fine on Mobikwik and Hip Bar

    The Reserve Bank has imposed a fine of about 26 lakh rupees on two online payment solutions providers for non-compliance of regulatory guidelines. The central bank said in a release that Mobikwik Systems Private Limited has been slapped a fine of 15 lakh rupees while Hip Bar Pvt Ltd faced a fine of 10.85 lakh […]

    Banking

    Asian Development Bank cuts India’s GDP growth forecast to 7 per cent for FY20

    Asian Development Bank today lowered India’s GDP growth forecast to 7 per cent for the current year on the back of fiscal shortfall concerns. India is expected to grow by 7 per cent in 2019 and 7.2 per cent in 2020, slightly slower than projected in April, ADB said in its supplement to the Asian […]

    Banking

    RBI releases vision document for e-payment system

    Reserve Bank of India has released a vision document for ensuring a safe, secure, convenient, quick and affordable e-payment system. The move comes as the apex bank expects the number of digital transactions to increase more than four times to 8,707 crore in December 2021. According to RBI release on Wednesday the ‘Payment and Settlement […]

    Banking

    No five day a week in commercial banks, says RBI

    The Reserve Bank of India (RBI) has not issued any direction with regard to a five day a week working for commercial banks. In a statement, the RBI said, it has been reported in certain sections of media that commercial banks would work five days a week in terms of RBI instructions. It termed the […]

    Banking

    Reserve Bank to inject USD 5 billion more liquidity into banking system

    The Reserve Bank of India, RBI yesterday said it will inject long-term liquidity worth 5 billion US Dollars into the banking system through a dollar-rupee buy-sell swap for a tenure of three years on April 23. The RBI statement stated that the move intends to meet the durable liquidity needs of the system. It stated […]

    Banking

    ICICI Bank launches a premium savings account- ‘The ONE’

    By Sachin Murdeshwar Mumbai: ICICI Bank today announced the launch of a new range of premium savings account. Christened, ‘The One’, it is available for upwardly-mobile salaried and self-employed men who strive to achieve their goals and lead an aspirational lifestyle with a host of benefits. The savings account also offers a bouquet of benefits […]

    Banking

    Canara HSBC Oriental Bank of Commerce Life Insurance launches over- the- counter product – Easy Bachat Plan

    By Sachin Murdeshwar New Delhi: With the aim to further extend the mass reach, Canara HSBC Oriental Bank of Commerce Life Insurance Company has launched its second over-the-counter product – Easy Bachat Plan. Canara HSBC Oriental Bank of Commerce Life Insurance Easy Bachat Plan will help one plan their savings in hassle free manner and […]

    Banking

    SBI, other banks agree to finance Nagpur-Mumbai Samruddhi Corridor

    A consortium of banks led by StateBank of India has agreed to provide finance for Nagpur-Mumbai ‘SamruddhiCorridor’ expressway project. Bhushan Gagrani, Principal Secretary in the ChiefMinister’s Office said, SBI has agreed to lend the highest amount, 8,500 crorerupees. Other lenders include Punjab National Bank, Bank of Baroda, Bank ofMaharashtra as well as the Life Insurance […]

    Banking

    RBI launches survey to capture retail payment habits in 6 cities

    The Reserve Bank of India (RBI) will capture payment habits of individuals in six cities, including four metropolitan towns. For the purpose, the central bank has launched a ‘Survey on Retail Payment Habits of Individuals (SRPHi)’. According to RBI release, the survey will cover a sample of 6,000 individuals from various socio-economic backgrounds across six cities including […]

    Banking

    Public sector banks on strike, services affected

    Banking services in the public sector banks were affected today due to a strike by Unions against the proposed merger of Vijaya Bank and Dena Bank with Bank of Baroda. The strike has been called by the United Forum of Bank Unions (UFBU) – an umbrella organisation of all 9 unions including the All India […]

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