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For most out-of-town students, the last few days of the month are rather trying. They rely on a combination of hostel loans and credits at the messing facilities to tide over the month-end cash crunch. North Block appears to be relying lately on similar arrangements with the central bank to tide over its own cash-flow […]

The Reserve Bank of India (RBI) on Monday published draft framework for authorisation of a new pan-India umbrella organisation for retail payment systems. The central bank has invited comments on the draft framework from all stakeholders by February 25. At present, National Payments Corporation of India (NPCI) is an umbrella organisation for retail payments systems.

After the two-day strike on January 31 and February 1 by the Bank Unions, Bank Employees Federation of India (BEFI) and the All India Bank Employees’ Association (AIBEA) informed that a three-day nationwide bank strike will be observed from March 11 to 13. The strike has been called after talks over wage revision failed to

The government is likely to notify the merger of 10 public sector banks to create four big lenders later this week, as they have completed the groundwork for the same, two people familiar with the development said. After it is notified, the respective bank boards will meet to give their customary final approval and fix

The country’s largest lender, State Bank of India (SBI), has slashed the interest rate on fixed deposits(FDs), also known as term deposits by 10-50 basis points (bps) in the retail segment and 25-50 bps in the bulk segment. These interest rates are applicable with effect from today (10th February) on the FDs. “In view of

SBI Alert! State Bank of India may block your bank account after 28th February; do this fast or face trouble SBI Alert: The State Bank of India (SBI) has issued an important public notice to the SBI account holders asking them to complete their KYC and avoid future inconveniences in the banking procedures. The largest

Reserve Bank of India Governor Shaktikanta Das appeared to be in a flamboyant mood when he started unveiling the latest monetary policy review — the last for the current financial year and the first for the current calendar year. It was widely believed that with the retail inflation touching 7.35 per cent rate in December

Indian food, when done right, comes in a thali — a metal plate with half a dozen or more little bowls of vegetables, pickles, and so on. The word of the week in India is “thalinomics”: The government’s official survey of the Indian economy, published a few days ago, introduced the word to talk about