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Bank GK Updates Mar 02 - Mar 08 2017

Bank GK Updates Mar 02 - Mar 08 2017

TestFunda ,  08-Mar-17
Pay up to Rs 600 plus taxes for not maintaining min bank balance
Banks > Minimum Balance > Mar 08

Banks will wipe out balances in your savings account if you don't maintain a monthly average balance (MAB). Penalties are also no more mild, moving up to as high as Rs 600 plus taxes in case of some private banks and as high as Rs 100 in the case of India's largest public sector bank, SBI.

US to temporarily suspend premium processing of H1-B visas
India > H1-B visa > Mar 04

While the confusion with Trump's clear-cut stand on H1-B visa still looms, the administration has announced a hostile move that will hit businesses all across, especially the Indians who receive approximately 70% of the non-immigrant visas.

Government urges banks to reconsider charging for cash transactions, ATM withdrawals
Banks > Cash Transaction > Mar 06

The government has urged banks, including private entities to reconsider their move to impose cash transaction charges, ANI said. In the last few days, several banks have imposed charges on cash transactions above a prescribed limit in a bid to keep them at a minimum. While this was being touted as yet another move towards a cashless economy and encourage digital transactions, the government has now asked the banks to reconsider their decision to impose charges.

SBI launches 'Work from Home' facility for employees 
Banks > SBI > Mar 08

The Board of the bank has recently approved the 'Work from Home' policy to enable its employees to work while at home using mobile devices to address any urgent requirement they may have, that prevents their travelling to work. 

IDFC launches Aadhaar Pay, becomes the first to launch biometric based payment system 
Banks > IDFC > Mar 05

IDFC Bank has become the first bank to launch the biometric-based payment system Aadhaar Pay through its network. The bank aims to onboard anywhere between 50,000-75,000 merchant to the Aadhaar pay module in the next two years with a total target of touching 1,00,000 merchants over the next 36 months or three years. 

No need for minimum balance in Jan Dhan accounts: Arundhati Bhattacharya 
Banks > Jan Dhan Acc > Mar 06

SBI chairman Arundhati Bhattacharya has clarified that minimum balance requirement re introduced by the bank from April does not apply to the PM's Jan-Dhan Yojana (PMJDY) accounts or to the 'Basic Savings Bank' accounts “This does not apply to any financial inclusion account. All banks as far as we are aware already have such charges,“ said Bhattacharya, pointing out that afalse impression was being created by those who have not read applicability of the new norms. 

Govt asks banks to enable m-banking for all by March 31 
Banks > m-banking > Mar 03

The government has instructed banks to link all savings accounts with mobile and Aadhaar numbers by March 31, 2017, and enable mobile banking for such customers. All banks have been advised to undertake this in campaign mode, an official statement today said. 

Oldest serving aircraft carrier INS Viraat to be decommissioned
India > INS Viraat > Mar 06

The world's oldest aircraft carrier in active service, INS Viraat, will be decommissioned on 6th March after serving the Indian Navy for nearly 30 years. INS Viraat's retirement+ will not only end a glorious chapter in the Indian Navy's history but will also create a vacuum as the sea hawks will be short of two aircraft carriers now. Earlier, INS Vikrant was decommissioned in 1997.

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