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The move is expected to prompt banks to lower the deposit rate in line with the small savings rate as offered by the government.

Interest rate on small savings hiked after several yrs; PPF to fetch 8...

Interest on savings deposits has been retained at 4 per cent, annually.

20 Sept 2018 10:52 AM IST

India typically imports around 800 tonnes of gold every year. (Photo: PTI)

Banks to pay 3 per cent IGST on gold imports: CBEC

GST is payable at the rate of 3 per cent of the total transaction value of jewellery.

21 Aug 2017 4:16 PM IST

Bank unions have also demanded the government should reimburse them the cost of demonetisation. (Photo: Representational/PTI).

PSU banks hint strike on Tuesday against 'consolidation'

Operations at private lenders like ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra Bank are expected to be normal.

21 Aug 2017 11:19 AM IST

Finance Minister Arun Jaitley speaks in the Rajya Sabha in New Delhi. (Photo: AP)

Banks restructure corporate loans of Rs 2.04 lakh cr in FY17

Amount of corporate loans restructured by lenders has seen a decline in the last three financial years.

1 Aug 2017 6:32 PM IST

Bank customers across the nation have complained that several banks are refusing to accept more than the said amount despite providing detailed explanations. (Photo: PTI/File)

Saving deposit rate cuts to lead to lower lending rates: report

A cut in the MCLR beyond 0.35 per cent would become a margin dilutive proposition.

13 Aug 2017 11:58 AM IST

Finance Minister Arun Jaitley (Photo: PTI)

Govt has not written off single rupee of corporate loans: Jaitley

Total outstanding gross NPAs of agriculture and allied activities stood at Rs 62,307 crore.

11 Aug 2017 3:14 PM IST

RBI has also reported that the general public has withdrawn Rs. 1,03,316 crore from their accounts either over the counter or through ATMs during this period.

RBI eases cash balance requirement for banks

The higher CRR is applicable on incremental deposits raised between September 16 and November 11, 2016.

30 Nov 2016 7:40 PM IST

LIC bought an additional stake of over 3 per cent in Bank of India for about Rs 450.88 crore. (Representational Image)

Bank of India eyes net profits in second quarter

As per RBI norms, Bank of India was supposed to be under threshold one of prompt and corrective action.

15 July 2017 4:31 PM IST

Banks will have to make changes in the existing infrastructure which would be a huge challenge for the banks.(Representational Image)

Insolvency and Bankruptcy Code explained

IBC that was passed in May 2016 replaced three existing laws on insolvency and bankruptcy.

13 July 2017 3:14 PM IST

Th citys ATMs continue to run out of cash.

RBI allows 23 NEFT transfers: Things you should know

At present, RBI allows banks to conduct NEFT funds transfers in batches from 8 am to 7 pm.

9 May 2017 2:53 PM IST

ATM cash limits may be withdrawn from tomorrow. (Photo: representational Image)

Note ban: People still ask 'Is there cash in ATM?'

Big banks deny there was shortage of cash in country but accept ATMs run dry during long weekends, holidays.

8 May 2017 5:29 PM IST

Panic among people during the initial days (of demonetisation) had led customers rushing to banks and deposit their money. (Photo: Representational Image/PTI)

7 PSU banks get new heads; MDs of PNB, BoI shifted

Toxic loans of public sector banks rose by over Rs 1 lakh crore to Rs 6.06 lakh crore during April-Dec 2016-17.

6 May 2017 11:26 AM IST