Bank
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Turban bank at Bangla Sahib Gurudwara to motivate Sikh youngsters
India | Nov 24, 2019, 11:42 AM ISTA Sikh youth can have a turban at a cost of Rs 50, from the turban bank at Bangla Sahib. In a matter of few days only 500 turbans have been given while 1000 have been received by the bank, for this noble cause," Sirsa said.
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CSB Bank IPO opens today: All you need to know
Business | Nov 22, 2019, 01:22 PM ISTThe Bank has a strong base in Kerala along with a significant presence in Tamil Nadu, Karnataka and Maharashtra. The IPO price band has been set at Rs 193-195 per share.
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Ayodhya judgment: Ram Naam Bank announces 'bonus' for account holders
India | Nov 17, 2019, 11:05 AM ISTThe Allahabad-based 'bank', which neither has ATMs, nor cheque books and its only 'currency' is Lord Ram, has announced the bonus for nearly one lakh of its account holders.
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Two bank staff booked for swindling money from dead customer's account
Crime | Nov 16, 2019, 11:20 AM ISTWhen Sheikh Mohideen and Chinnadurai found that no one had come forward to claim the money deposited in theaccount of Emisola, after she died a few years ago, the duo renewed the account by forging her signature and created an ATM card, which was used to draw the money, police said.
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No levying of charges on NEFT payment from January: RBI to banks
Business | Nov 08, 2019, 05:36 PM ISTCome January 2020, and customers may not have to pay any charges for transactions done through the popular NEFT system.
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Lakshmi Vilas Bank's non-independent director resigns
Business | Nov 02, 2019, 03:29 PM ISTA statement issued by Lakshmi Vilas Bank on Friday said: "Anuradha Pradeep (Non-Executive and Non-Independent Director) has resigned from the directorship of the bank on November 01, 2019."
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Close to 70 senior bankers in fray for Laxmi Vilas Bank's top-post
Business | Oct 28, 2019, 11:28 AM ISTThe recruitment process, which is currently underway, will get over by November 10 and the new management will take charge by the first week of December if the Reserve Bank approval comes in.
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ACB files FIR in J&K Bank loan fraud case
India | Oct 19, 2019, 11:57 PM ISTThe Anti Corruption Bureau (ACB) of Jammu and Kashmir on Saturday registered an FIR in the J&K Bank loan fraud case of Rs 1,100 crore advanced to Rice Exports India (REI) Agro Ltd. Searches have been conducted at many locations in Delhi, Jammu and Srinagar.
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Banks' credit growth rate slows to 8.8%, shows RBI data
Business | Oct 12, 2019, 06:39 AM ISTOutstanding loans rose Rs 596.53 trillion ($8.40 billion) from a fortnight earlier to Rs 97.71 trillion as on September 27.
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Reconsider 18 pc GST on group medical insurance for bank retirees
Business | Oct 11, 2019, 05:32 PM ISTCPI general secretary D Raja on Friday wrote to Finance Minister Nirmala Sitharaman urging her to reconsider the 18 per cent GST on the annual Group Health Insurance Policy of retired bank employees.
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RBI gives nod for Kerala Bank
Business | Oct 10, 2019, 01:18 PM ISTAccording to government sources, 13 DCBs would be merged with the Kerala State Co-operative Bank for forming the proposed Kerala Bank.
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PMC bank scam: ED seizes 12 high-end cars of HDIL owners
India | Oct 04, 2019, 10:26 PM ISTThe Enforcement Directorate (ED) has seized 12 high-end cars which include two Rolls Royce, two Range Rover and one Bentley, of Housing Development and Infrastructure Limited (HDIL) chairman Rakesh Wadhawan and his son Sarang Wadhawan on Friday following raids at six locations in Mumbai.
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PMC Bank crisis: Former MD Joy Thomas arrested; ED conducts raids
India | Oct 04, 2019, 08:20 PM ISTFormer managing director of Punjab and Maharashtra Cooperative Bank, Joy Thomas, was arrested on Friday by the Economic Offences Wing of Mumbai Police in connection with the alleged Rs 4,355 crore scam at the bank .
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PMC Bank crisis: HDIL CEO, MD had properties worth Rs 3,500 crore
India | Oct 03, 2019, 11:27 PM ISTThe Chairman and Managing Director of real estate developer HDIL were arrested on Thursday in connection with the Rs 6,500 crore loan default case that has hit the Punjab and Maharashtra Co-operative (PMC) Bank. Rakesh Kumar Wadhawan, the Chairman, and Sarang Wadhawan, Managing Director of HDIL were arrested by the Economic Offences Wing (EOW) of the Mumbai Police. Assets worth Rs 3,500 crore of HDIL were also frozen.
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RBI increases withdrawal limit for PMC depositors to Rs 25,000
Business | Oct 03, 2019, 08:54 PM ISTThe Reserve Bank of India has enhanced withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank.
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PMC crisis: ICAI seeks information from RBI to check role of auditors
India | Oct 02, 2019, 03:46 PM ISTChartered accountants' apex body ICAI has sought information from the RBI and other authorities on the PMC Bank crisis to check whether any auditor was involved in the alleged financial irregularities at the lender.
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Bank Holidays Alert! Banks to remain closed on these days in October
Business | Oct 01, 2019, 08:22 AM ISTBank Holidays In October 2019: Banks to remain closed on the occasion of Diwali, Dussehra, and other festivals or national event in the month of October. Notably, the central government holidays are applicable to all public and private sector banks.
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What happens to your savings if your bank fails
Fyi | Sep 26, 2019, 05:38 PM ISTAfter the unexpected decision of The Reserve Bank of India to put Punjab and Maharashtra Cooperative Bank (PMC Bank) under scrutiny and strict directions for six months, the depositors of the bank are into a huge snag. But, the question is- how much safe is our money when it comes to cooperative banks these days? What will happen to depositors’ money if a bank suddenly fails or shuts down? Read on.
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Customers file police complaint against PMC Bank's officials
Business | Sep 26, 2019, 01:23 PM ISTA delegation of account-holders went to Sion police station in central Mumbai and submitted the complaint against officials of the bank, on which the RBI has imposed operational restrictions, he said.
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No concern to asset quality post UBI, OBC merger: PNB CEO
Business | Sep 22, 2019, 12:56 PM IST"Everything relating to the merger is going on smoothly. We don't foresee any challenges. Other banks have done it successfully and we can repeat that,said Sunil Mehta, the Managing Director and CEO of PNB.