Income Tax : U/s 2(19) of the Income Tax Act 1961, ‘cooperative society’ means a cooperative society registered under the Cooperative Socie...
Finance : As we all know a bank is a financial institution licensed to receive deposits and make loans. Banks many also provide financial se...
CA, CS, CMA : It was emphasized that the business in cooperative Banks i.e. State cooperative banks and district cooperative banks needs to be c...
Finance : Explore the rich history and architectural excellence of Thanjavur. Discover the Great Living Chola Temples, World Heritage Sites ...
Fema / RBI : The draft guidelines on how foreign banks can convert themselves into wholly owned subsidiaries of their parents, have been delaye...
Fema / RBI : Indian Banks Association clarified that some segment of social media based on misinformed communication and spreading false inform...
Fema / RBI : HDFC BANK IMPORTANT NOTICE REVISION OF FEES AND CHARGES – SAVINGS & SALARY ACCOUNTS (EFFECTIVE 01st March 2017) Effectiv...
Corporate Law : Male employees with less than two surviving children shall be eligible for 15 days paternity leave during his wife’s confinement...
Fema / RBI : Discussions were held between the Indian Banks’ Association representing Managements of Banks and the authorized represent...
Finance : IDBI Bank Ltd has entered into a Memorandum of Understanding with the Government of Karnataka (GoK) at the Global Investors Meet ...
BERLIN: Speculation is growing that India-born Anshu Jain may take over as the co-head of Deutsche Bank , Germany’s largest private bank, together with Bundesbank President Axel Weber, when the incumbent Josef Ackermann retires in early 2013.
“Around 2.5 lakh staffers of SBI, including 80,000 officers, will go on a two day strike from November 25 to protest against the new pension scheme and to press for redressal of wage related issues,” General Secretary of All India State Bank Officers
The draft guidelines on how foreign banks can convert themselves into wholly owned subsidiaries of their parents, have been delayed, with the Reserve Bank of India (RBI) awaiting clarity from tax authorities. The guidelines were to be have been relea
About 2.5 lakh employees of State Bank of India have threatened to go on two-day nation-wide strike beginning November 25 to press for wage related issues. “We are demanding early disbursal of undistributed amount in respect of SBI employees pending
In a move aimed at increasing its share of current and savings account (CASA) deposits, IDBI has done away with the concept of minimum balance on these accounts and has waived off most service charges except those pertaining to bounced cheques.
All branches of Bank of Rajasthan Ltd. will function as branches of ICICI Bank Ltd. with effect from August 13, 2010. This is consequent upon the Reserve Bank of India sanctioning the Scheme of Amalgamation of Bank of Rajasthan Ltd. with ICICI Bank Ltd.
The Union Cabinet today approved the acquisition of State Bank of Indore by State Bank of India (SBI) and also accorded `in-principle’ approval to introduce a Bill in the Parliament for making consequential amendments in the State Bank of India (Subsidiary Banks) Act, 1959, to remove references of State Bank of Indore.
The Reserve Bank of India (RBI) has asked banks to enable existing home loan borrowers to benefit from lower rates along with new customers, a senior official of the Indian Banks’ Association (IBA) told Reuters. In a letter to the IBA, the central bank has asked banks to reconsider their decision after lenders told the Reserve Bank of India (RBI) last year that reducing rates on all home loans is unviable for them.
Banks in India might soon face caps on charges for basic services, such as drafts and remittances, as the Reserve Bank of India addresses rising customer complaints. The Indian Banks Association has been tasked with creating guidelines on reasonable charges for services. A sub-committee, including representatives from State Bank of India, Corporation Bank, Citibank, and ICICI Bank, will focus on 27 basic transaction services and is expected to submit recommendations to the regulator by next month. If accepted, the guidelines could come into effect from April 1, 2020.
Relaxation in the norms relating to infrastructure lending and 70 per cent loan loss coverage ratio are likely to top the agenda when bankers meet Reserve Bank of India on January 14, ahead of the quarterly policy review. “Banks will press their demand to relax the norms on infrastructure lending. They may also ask for some easing in the guidelines announced for banks to augment their loan loss coverage ratio to 70 per cent,” Indian Banks’ Association chief executive, K Ramakrishnan told PTI in Mumbai.
