SBI to offer 'zero annual fee' credit cards to accounts with Rs 20,000
Banks > SBI > Mar 29
State Bank of India has said that it will offer credit cards to every account holder who has a balance of Rs 20,000-25,000, without going into credit history. This is the first major joint collaboration between Arundhati Bhattacharya-led SBI and SBI Card after the bank hiked its stake in the joint venture to 74% by buying out part of its partner GE Capital's stake for Rs 1,168 crore. GE Capital will sell its remaining stake to a private equity investor in coming days.
SBI to complete merger of 6 banks in three months
Banks > SBI > Mar 28
State Bank of India which would start merger process of five associates and Bharatiya Mahila Bank (BMB) from April 1, expects integration to be completed in three months.
Kotak Bank likely to buyout M&M Financial Services
Banks > Kotak-M&M Financial Services > Mar 28
Kotak Mahindra Bank said it planned to raise capital selling shares triggering speculation that it may raise as much as Rs. 10,000 crores for a possible buyout of a non-banking finance company, which may be Mahindra & Mahindra Financial Services Ltd.
SBI spent Rs 775 crore in maintaining Jan Dhan accounts: Santosh Kumar Gangwar
Banks > SBI > Mar 28
The total cost of operation of Jan Dhan accounts by State Bank of India is Rs 774.86 crore, Parliament was informed.
ICICI Bank partners Truecaller for UPI-based mobile payment
Banks > ICICI > Mar 28
ICICI Bank has partnered with Truecaller to launch a UPI-based mobile payment service called ‘Truecaller Pay’.
Supreme Court rejects bank's plea for exchange of Rs 371 cr scrapped currency
Banks > scrapped currency > Mar 28
The Supreme Court dismissed the plea of Nashik District Central Cooperative Bank Ltd seeking quashing of the RBI letter barring it from exchanging Rs 371 crore it had deposited in demonetised currency.
Union protests RBI decision to keep branches open next week
Banks > RBI > Mar 28
Bank officers' union AIBOC has registered a protest against the RBI's decision to keep bank branches open on all holidays till April 1 to facilitate government tax collection.
High court bans mining in Uttarakhand for four months
India > Uttarakhand > Mar 27
The Uttarakhand high court put a four-month ban on mining in the state during which no fresh lease or prospective licence for mining can be issued.
Remain open on all days till April 1: RBI to banks
Banks > RBI > Mar 25
The Reserve Bank of India has directed banks to remain open on all days till April 1, 2017 to facilitate government receipt and payment functions including collection of taxes. Few select RBI offices will also remain open during the period.
BSF gets first woman combat officer after 51 years
India > BSF > Mar 25
Tanushree Pareek became the first woman combat officer to be commissioned in the 51-year history of the Border Security Force (BSF), the country's largest border guarding force.