-
Posted Date : 18-Dec-2012 , 11:24:45 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday kept key policy rates including the cash reserve ratio (CRR) unchanged. While the repo ratewas maintained at 8%, CRR was also maintained at status quo of 4.25%. D Subbarao maintained that risks to inflation ...
Continue Reading... Category : Banking | Comments : 0 | Hits : 264
-
Posted Date : 15-Dec-2012 , 07:34:02 pm | Posted By CASANSAAR
Employees of public sector banks will observe one-day country-wide strike on December 20 in protest against the government's move to place the Banking Law Amendments bill in the current session of Parliament. Addressing a press conference here, RA Singh, president of Jharkhand Pradesh Bank Employees...
Continue Reading... Category : Banking | Comments : 1 | Hits : 600
-
Posted Date : 14-Dec-2012 , 09:18:37 pm | Posted By CASANSAAR
Bank account holders can continue to use their old format cheques for another three months as RBI has extended the deadline for banks to issue new cheques with uniform security features till March next year. The Reserve Bank in a notification today said, "Taking into consideration represent...
Continue Reading... Category : Banking | Comments : 0 | Hits : 672
-
Posted Date : 11-Dec-2012 , 08:08:00 am | Posted By CASANSAAR
The Reserve Bank of India has made it easier to open new bank accounts by doing away with the need to provide separate proofs for identity and address. It has also added Aadhar letters and cards as well as the NREGA job card to the list of eligible documents of proof fo...
Continue Reading... Category : Banking | Comments : 0 | Hits : 789
-
Posted Date : 10-Dec-2012 , 07:49:59 am | Posted By CASANSAAR
RBI deputy governor K C Chakrabarty has come down heavily on banks showing higher profits without providing adequately for bad loans and said, if need be, the central bankmay hike provision coverage ratio (PCR) levels. He also said lending rates would have been far lower if banks had ...
Continue Reading... Category : Banking | Comments : 1 | Hits : 594
-
Posted Date : 05-Dec-2012 , 08:09:07 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has set up a supervisory college for State Bank of India (SBI) and ICICI Bank Ltd, in order to deal with supervisory issues revolving around the banks and establish a cooperation mechanism for cross-border supervision. For SBI, there are nine host country sup...
Continue Reading... Category : Banking | Comments : 0 | Hits : 343
-
Posted Date : 04-Dec-2012 , 07:29:39 am | Posted By CASANSAAR
A Bench of justices T.S. Thakur and Gyan Sudha Mishra set aside the verdict of Gujarat High Court which had held that criminal proceedings for dishonouring of cheque can be initiated only when the cheque is dishonoured because of lack of sufficient amount in the bank account and not in case where a ...
Continue Reading... Category : Banking | Comments : 0 | Hits : 548
-
Posted Date : 03-Dec-2012 , 05:39:43 am | Posted By CASANSAAR
Add one more item — get a new cheque book — to your list of 'things to do' before the New Year. You may not be able to use your old cheques from next year with the implementation of the new Cheque Truncation System (CTS-2010), which will eliminate physical movement of cheques f...
Continue Reading... Category : Banking | Comments : 0 | Hits : 1551
-
Posted Date : 30-Nov-2012 , 07:48:50 am | Posted By CASANSAAR
The details of Bank Group-wise ratio of Gross Non-Performing Assets (GNPAs) to Gross Advances as on 31st March, 2012 and as on 30th September, 2012 are as under: Banks 31st March, 2012 *30th Sept., 2012 Nationalised Banks 2.67% 3.50% Sta...
Continue Reading... Category : Banking | Comments : 0 | Hits : 472
-
Posted Date : 29-Nov-2012 , 08:38:55 am | Posted By CASANSAAR
Worried over rising bad loans, the government has asked state-owned banks to crack the whip on wilful defaulters and initiate penal proceedings against them. The issue of initiating penal action figured in meetings of the bankers with Finance Minister P Chidambaram. "It i...
Continue Reading... Category : Banking | Comments : 0 | Hits : 354
-
Posted Date : 27-Nov-2012 , 08:16:28 am | Posted By CASANSAAR
Checking your bank balances or placing a request for a cheque book has been made as simple and hassle-free as dialling *99# from your mobile. Just dial *99# from your mobile of any make, every banking service, be it fund transfer or checking balances, comes at platter. Formally rol...
Continue Reading... Category : Banking | Comments : 0 | Hits : 620
-
Posted Date : 16-Nov-2012 , 08:50:25 am | Posted By CASANSAAR
Finance Minister P Chidambaram has asked the Reserve Bank of India (RBI) to start working towards issuing the final guidelines for new banking licences and receiving applications from interested entities. The development comes even as the central bank insists on amending the Banking R...
Continue Reading... Category : Banking | Comments : 1 | Hits : 619
-
Posted Date : 15-Nov-2012 , 09:04:45 am | Posted By CASANSAAR
Banks have warned customers to follow 30 rules to keep their accounts safe from crooks or risk being left out of pocket. Many banks in London are imposing sneaky terms and conditions to allow them to block compensation to innocent victims of chip-and-pin or Internet fraud. The new rules include de...
Continue Reading... Category : Banking | Comments : 0 | Hits : 455
-
Posted Date : 06-Nov-2012 , 08:34:05 am | Posted By CASANSAAR
Starting January 1, 2013, banks will not accept cheques that do not conform to the new standards under the cheque truncation system (CTS). As per a directive from the Reserve Bank of India (RBI), all lenders are mandated to phase out all non-CTS cheques by the end of December. Indi...
Continue Reading... Category : Banking | Comments : 0 | Hits : 1163
-
Posted Date : 26-Oct-2012 , 07:59:24 pm | Posted By CASANSAAR
Reserve Bank of India has given licence to eight new cooperative banks in the state, Cooperative minister Shivpal Singh Yadav said here today.Yadav said with the licence to eight new banks the total number of cooperative banks would rise to 33 in the state.These new banks would come in Lucknow...
Continue Reading... Category : Banking | Comments : 0 | Hits : 312
-
Posted Date : 10-Oct-2012 , 08:23:53 am | Posted By CASANSAAR
The Reserve Bank of India has slapped a fine of Rs 55 lakh on ING Vysya Bank and Rs 30 lakh on ICICI Bank for violations in know your customer (KYC) guidelines. “The RBI imposed monetary penalties of Rs 55 lakh on ING Vysya Bank and Rs 30 lakh on ICICI Bank in exercise of the powers v...
Continue Reading... Category : Banking | Comments : 0 | Hits : 445
-
Posted Date : 05-Oct-2012 , 08:25:23 am | Posted By CASANSAAR
IN a much-awaited big ticket announcement that hopes to boost the financial sector, the Reserve Bank of India is set to allow the opening of new banks and invite applications for licences this month. A top government source said the central bank will issue the final guidelines for setting u...
Continue Reading... Category : Banking | Comments : 0 | Hits : 716
-
Posted Date : 03-Oct-2012 , 08:12:11 am | Posted By CASANSAAR
Public sector lenders, Punjab National Bank(PNB), Union Bank of India (UBI) and Oriental Bank of Commerce (OBC) revised their deposit rates on FCNRaccounts (foreign currency non-deposit accounts) with maturity of one-five years from today. As per the revised ra...
Continue Reading... Category : Banking | Comments : 0 | Hits : 308
-
Posted Date : 25-Sep-2012 , 07:46:10 pm | Posted By CASANSAAR
To promote cashless transactions, theFinance Ministry has asked public sector banks to take steps to reduce the fee to zero for electronic transfer of funds up to Rs one lakh. Currently, most banks charge a maximum fee of Rs 5 per transfer of funds up to Rs 1 lakh from one a...
Continue Reading... Category : Banking | Comments : 0 | Hits : 375
-
Posted Date : 19-Sep-2012 , 08:41:30 am | Posted By CASANSAAR
Bank Note Press, Dewas has been awarded a prestigious National Safety Award at a function in Vigyan Bhawan yesterday. This award was presented by the Union Minister of Labour & Employment, Shri Mallikarjun Kharge to Shri B. Burman, General Manager, Bank Note Press, Dewas in the category of indus...
Continue Reading... Category : Banking | Comments : 0 | Hits : 266
-
Posted Date : 17-Sep-2012 , 02:27:36 pm | Posted By CASANSAAR
In a move cheered by both economists and industrialists, the Reserve Bank of IndiaBSE 4.06 % (RBI) on Monday cut the cash reserve ratio (CRR) by 25 basis points to 4.50 per cent in its monetary policy review. The decision will infuse Rs 17,000 crore into the banking system. The liquidity infusion, R...
Continue Reading... Category : Banking | Comments : 1 | Hits : 332
-
Posted Date : 13-Sep-2012 , 08:21:35 am | Posted By CASANSAAR
The top three private sector lenders in the country — ICICI Bank, HDFC Bank, and Axis Bank — have slashed interest rates on retail term deposits across maturities. The move is aimed at boosting the net interest margins of the banks, which have been stressed due to slow loan growth and th...
Continue Reading... Category : Banking | Comments : 1 | Hits : 323
-
Posted Date : 06-Sep-2012 , 09:13:00 pm | Posted By CASANSAAR
The Gross Non-Performing Assets (GNPAs) of Nationalized Banks as on June 2012 were Rs.73,038 crore which amount to 2.94% of Gross Advances. Data Reporting System of Reserve Bank of India (RBI) does not generate State wise details. Banks are required to monitor their NPA...
Continue Reading... Category : Banking | Comments : 1 | Hits : 400
-
Posted Date : 06-Sep-2012 , 08:06:27 am | Posted By CASANSAAR
Third largest lender ICICI Bank on Monday said it is working towards allowing its customers to make transactions through social networking site Facebook. The Mumbai-based bank's chief technology officer Mukesh KumarJain said the bank has Facebook likes close to 8&nb...
Continue Reading... Category : Banking | Comments : 0 | Hits : 568
-
Posted Date : 05-Sep-2012 , 08:45:01 am | Posted By CASANSAAR
To fulfil the capital requirements under Basel III, the government will have to infuse up to Rs90,000 crore into state-owned banks by March 2018, RBI governor D Subbarao said on Tuesday. The capital infusion will keep the government’s shareholding at current levels, he said. “Pr...
Continue Reading... Category : Banking | Comments : 0 | Hits : 399
-
Posted Date : 31-Aug-2012 , 07:10:08 am | Posted By CASANSAAR
Banks have about Rs 2,481 crore as unclaimed deposits and the government has proposed to credit unclaimed funds of more than 10 years to a new fund."Reserve Bank of India (RBI) has informed that as of December 31, 2011, total amount of around Rs 2,481.40 crore in 1,12,49,844 acco...
Continue Reading... Category : Banking | Comments : 0 | Hits : 299
-
Posted Date : 26-Aug-2012 , 10:27:10 pm | Posted By CASANSAAR
Public sector banks have set a target to disburse Rs 6 lakh crore as agriculture loan during the current fiscal. This is Rs 25,000 crore higher than the target set for them. After inaugurating a rural training centre at Amaravathipuram, Karaikudi, set up by Indian Bank, Indian Overseas Bank...
Continue Reading... Category : Banking | Comments : 0 | Hits : 265
-
Posted Date : 26-Aug-2012 , 10:12:58 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has asked regional rural and co-operative banks to modify Fixed Deposit account opening forms to allow premature withdrawal of FD on death of one of the joint account holders without any penalty.Under the modified norms, it will be easier for the surviving joint accou...
Continue Reading... Category : Banking | Comments : 0 | Hits : 298
-
Posted Date : 25-Aug-2012 , 07:34:04 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) will meet Union Finance Minister P Chidambaram on retaining the current advance limit of bank branches for independent audit. "We will meet the finance minister and make a representation to retain the current Rs 6 crore limit of advance...
Continue Reading... Category : Banking | Comments : 0 | Hits : 2845
-
Posted Date : 23-Aug-2012 , 10:34:59 pm | Posted By CASANSAAR
There is no proposal to revive Banking Service Recruitments Board as recruitment is done by individual Banks on an ongoing basis, which takes into account the results in common examination conducted by the Institute of Banking Personnel Selection (IBPS). The requirement of manpower in Natio...
Continue Reading... Category : Banking | Comments : 0 | Hits : 1822
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
