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  NBFC/HFC bankruptcy provisions positive for banks: Moody's

  Business | November 25, 2019 14:02 IST

  On November 20, the Reserve Bank superseded the DHFL board and appointed an administrator and said it would begin bankruptcy process for the crippled company that owes close to Rs 90,000 to the system.

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  Sitharaman tells banks to assess core strengths before scaling up operations

  Business | November 23, 2019 23:06 IST

  Sitharaman said if a financial institution in the present situation has a name ending with 'Bank' doubts are raised on the functioning of it and heaped praise that City Union Bank has been functioning steadily for the last 115 years.

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  Over 3,400 branches of 26 PSBs closed or merged in last 5 years: RTI

  Business | November 03, 2019 20:08 IST

  Over 3,400 branches of 26 public sector banks (PSBs) have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query.  

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  RBI revamps departments for effective supervision, regulation of banking sector

  Business | November 01, 2019 19:19 IST

  The Indian banking sector has witnessed a series of scams, including about Rs 14,000 crore fraud in Punjab National Bank and the recent PMC Bank crisis that affected lakhs of depositors. Besides, several large NBFCs have failed on their commitments to service their debt.

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  Sitharaman says no liquidity issue post 'tonic-like' meet with banks

  Business | September 26, 2019 21:09 IST

  Describing her meeting with the bankers as a "tonic", Finance Minister Nirmala Sitharaman said on Thursday that there is no liquidity related problems being faced by the private sector lenders and the non-banking financial companies (NBFCs).  

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  Fake Alert: Social media rumours on RBI closing down 9 banks 'false'

  Business | September 25, 2019 16:16 IST

  The Reserve Bank of India (RBI) on Wednesday debunked social media rumours on closing down certain commercial banks. It said such reports are false, emphasising that no commercial banks are going to be shut.

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  Two bank unions to go on strike on Oct 22

  India | September 19, 2019 23:11 IST

  The two unions are All India bank Employees' Association (AIBEA) and Bank Employees Federation of India (BEFI).

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  Sitharaman to review bank merger preparedness amid strike call

  Business | September 18, 2019 21:52 IST

  "Tomorrow's PSB meeting will take up some of the key issues which relate to passing of low cost of borrowing and NPA settlement, doorstep banking and also the merger execution strategies to be taken up by the merging and anchor banks to iron out glitches," a source said.

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  Bank staff to protest outside Parliament against mergers

  India | September 11, 2019 23:06 IST

  All India Bank Employees' Association (AIBEA) General Secretary C.H. Venkatachalam told IANS that the UFBU has decided to a national dharna before Parliament on Sep 20 at 10.30 a.m.

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  Normalcy returning in J&K: All landlines, exchanges restored; schools, banks, ATMs functional

  India | September 11, 2019 18:50 IST

  Life in Jammu and Kashmir is slowly and steadily moving back to normal after restrictions were imposed following abrogation of Article 370 on August 5. According to news agency ANI, all telephone exchanges have been activated and landlines restored. Post paid mobiles too are functional in Kupwara district.

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  Things you need to know about IFSC Code

  Business | September 05, 2019 17:06 IST

  Recently, Finance Minister Nirmala Sitharaman announced the merger of 10 PSB Banks, and the news made existing customers concerned about their account numbers, branch and codes. We all know that when SBI got merged with its five associates, at that time SBI changed the IFSC codes and names of 1,300 branches, for the reason that each and every branch server is different. So, it’s obvious that if the banks merged you may get a new IFSC code.  

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  ATTENTION Account holders! Here’s how bank merger is likely to IMPACT you

  Business | September 04, 2019 13:30 IST

  Do you hold an account or more in one of the 10 Public Sector Banks in India that have been merged? If yes, then do read this article to find out how this big ticket bank merger is going to impact you.

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  PSB stocks plunge up to 10.6% post merger announcement

  Business | September 03, 2019 16:51 IST

  Public sector bank stocks, led by Canara Bank, Union Bank and Punjab National Bank, tumbled up to 10.6 per cent on Tuesday after the government announced the merger of 10 state-run lenders into four.  

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  Indian Bank expects to complete merger with Allahabad Bank by March 31

  Business | September 03, 2019 15:31 IST

  Last week, the government announced consolidation of 10 public sector banks into four mega state-owned lenders, including merger of Allahabad Bank with Indian Bank.

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  Bank holidays ALERT! Banks to remain closed on THESE days in September

  Business | September 27, 2019 19:32 IST

  Bank holidays in September 2019: All public and private sector banks in India remain closed on national holidays like--Independence Day, Christmas Day. However, the public holidays may differ from one bank to another or even from one state to another. In fact, there are state-wise bank holidays also. List of bank holidays given by RBI in September 2019: Here’s a complete list.

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  Banks merger reflects govt resolve to address economic slowdown: India Inc

  Business | August 30, 2019 22:45 IST

  A sharp deceleration in manufacturing output and subdued farm sector activity pulled down India's gross domestic product (GDP) growth to 5 per cent in the April-June quarter.

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  Banks may be made answerable for denying loans to MSMEs, says Union minister Pratap Chandra

  Business | August 29, 2019 20:22 IST

  Banks might be made answerable in future for refusing loans to eligible MSME players, Union Minister Pratap Chandra Sarangi said on Thursday. The Minister of State for MSME stated that the development of the sector is often hampered due to non-cooperation of banks and his ministry was in talks with the finance ministry to address the issue.

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  RBI blasts banks on poor compliance, blames it for frauds

  India | August 20, 2019 23:57 IST

  Reserve Bank deputy governor MK Jain on Tuesday slammed banks for poor compliance with regulations, and pointed out that high value frauds and fines are a result of their lackadaisical attitude on this. 

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  Bank timings likely to change! Govt proposes three time slots for all National and Regional Rural Banks

  Business | August 13, 2019 11:31 IST

  The first option was to open banks from 9 am to 3 pm, second option was from 10 am to 4 pm and the third option was from 11 am to 5 pm.

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  Bank holiday Alert: Banks to remain closed on these days in August; check complete list

  Business | August 21, 2019 8:43 IST

  Bank holidays in August: Banks remain closed on several occasions in August month. There are more public holidays, including, Independence Day, Raksha Bandhan, Bakrid, Sri Krishna Janmashtami and Parsi New Year. However, the public holidays may differ from one bank to another or even from one state to another.