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  RBI to strengthen risk-based supervision of banks, NBFCs

  Business | May 02, 2021 18:27 IST

  The Reserve Bank has decided to review and strengthen the Risk Based Supervision (RBS) of the banking sector with a view to enable financial sector players to address the emerging challenges.

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  RBI caps tenure of bank MD and CEOs to 15 years

  Business | April 26, 2021 20:07 IST

  In a major reform step, the Reserve Bank of India (RBI) has capped the tenure of bank MD and CEOs with immediate effect.

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  RBI to conduct customer satisfaction survey on bank mergers

  Business | April 26, 2021 18:07 IST

  Among other things, the respondents will be asked whether the merger was positive from the point of customer services.

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  Govt cuts interest rates on small savings schemes, to be effective from April 1. Details

  India | March 31, 2021 23:37 IST

  The government on Wednesday reduced interest rates on small savings including PPF, one-year time deposit, senior citizen savings schemes. The changes will be effective from April 1, 2021.

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  Banks to conduct special clearing operations for closure of govt accounts on Mar 31: RBI

  Business | March 28, 2021 17:09 IST

  Banks will conduct special clearing operations for annual closure of government accounts on March 31, which is the last day of the current fiscal year, the RBI has said.

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  RBI announces committee to evaluate applications for banks

  Business | March 22, 2021 19:31 IST

  The RBI had issued guidelines for 'on tap' licensing of universal banks in the private sector in August 2016 and guidelines for 'on tap' licensing of small finance banks in the private sector in December 2019.

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  Amid bank strike, Nirmala Sitharaman says not all banks will be privatised

  Business | March 16, 2021 17:02 IST

  Amid bank strike over the proposed privatisation of the public sector banks, Union Minister Nirmala Sitharaman on Tuesday said not all banks are going to be privatised adding the interests of the employees will be taken care of.

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  RBI asks banks to implement image-based Cheque Truncation System in all branches by Sep 30

  Business | March 15, 2021 20:35 IST

  The Reserve Bank on Monday asked banks to implement the image-based Cheque Truncation System (CTS) in all branches by September 30, a move aimed at faster settlement of cheques resulting in better customer service. 

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  Bank Strike: Nationwide strike impacts banking services of PSU banks on day one

  Business | March 15, 2021 17:02 IST

  United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16, and claimed that about 10 lakh bank employees and officers of the banks will participate in the strike.

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  Bank strike on Monday, operations to take a hit: A list of banks and services that will be affected

  Business | March 14, 2021 23:12 IST

  Banking services in the country could be affected on Monday and Tuesday amid a nationwide strike of bank unions against the proposed privatization of two state-owned lenders.

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  Govt to work with RBI for execution of bank privatisation plan: Nirmala Sitharaman

  Business | February 07, 2021 16:53 IST

  Finance Minister Nirmala Sitharaman on Sunday said the government will work with the Reserve Bank for execution of the bank privatisation plan announced in the budget. 

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  RBI to do annual assessment of banks' grievances redressal system

  Business | January 31, 2021 16:11 IST

  The RBI recently decided to put in place a comprehensive framework for grievances redressal.

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  RBI imposes Rs 7 lakh penalty on 2 banks for violation of KYC, other norms

  Business | January 04, 2021 21:17 IST

  The RBI on Monday said it has imposed a total penalty of Rs 7 lakh on two co-operative banks, including Rs 5 lakh on Vyavasayik Sahakari Bank Maryadit, for violation of KYC and other norms.  

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  Bharat Bandh: Will bank services be hit? Here's what top unions said

  Business | December 07, 2020 21:02 IST

  All India Bank Officers' Confederation (AIBOC) General Secretary Soumya Datta said the union has expressed its solidarity with farmers but will not be participating in the Bharat Bandh called by them.

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  Bharat Bandh on November 26: Will bank services be hit?

  Business | November 25, 2020 22:46 IST

  With the call of a nationwide strike by central trade unions on Thursday, banking operations could be hit. The strike, to be observed by ten central trade unions except Bharatiya Mazdoor Sangh, will also be joined by some bank unions.

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  RBI asks banks to use automated IT-based system for asset classification

  Business | September 14, 2020 22:03 IST

  Concerned over manual identification of bad loans by some banks, the RBI on Monday asked lenders to introduce an automated IT-based system for asset classification and provisioning.

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  Unlock 4.0: Banks allowed to operate on Saturdays in West Bengal

  India | September 04, 2020 17:31 IST

  The West Bengal government has allowed banks to operate on working Saturdays as part of further relaxations in COVID-related restrictions, according to an order.

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  Don't charge UPI transactions, refund money collected since Jan 1: Finance ministry tells banks

  Business | August 31, 2020 12:53 IST

  According to the CBDT, it received some representations which revealed that a few banks are imposing and collecting charges on transactions carried out through UPI. A certain number of transactions were allowed free by these banks beyond which every transaction bears a charge, the CBDT noted.

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  Banking system has to be liberated from risk aversion: RBI

  Business | August 25, 2020 16:15 IST

  The report noted that the deterioration in the macroeconomic and financial environment is impinging on asset quality, capital adequacy and profitability of banks.

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  Capital conservation for banks important as moratorium ends on August 31: SBI report

  Business | July 22, 2020 15:03 IST

  State-owned banks need to be recapitalised or given the alternative of capital conservation as one-year suspension under insolvency and bankruptcy code (IBC) provisions will affect the resolution of stressed accounts, says an SBI research report.