Many districts lack banking presence despite high level of economic activities: FM Nirmala Sitharaman
Addressing banking industry lobby grouping Indian Banks' Association (IBA), Sitharaman asked lenders to augment efforts of deepening presence.
Still, that fares better than FY20, when state-run banks some of which were placed under the RBI’s prompt corrective action, downsized staff by about 38,000.
DICGC has also asked the banks to circulate consent form to account holders for accessing funds up to Rs 5 lakh as per the amended law within 90 days.
The credit cards will be powered by Visa and will include offerings targeted at millennials, business owners and merchants, an official statement said.
The move comes after the RBI’s humble attempt in 2017 to resolve 40 large NPAs in a timebound manner, courtesy the freshly minted bankruptcy law.
IBA is involved in finding new solutions for the customers especially during the pandemic and has come up with guidelines for the cohesive functioning of the entire banking system, the CEO said.
According to doctors, the system will mainly help monitor the temperature maintained in the refrigerator, where blood and blood components are stored.
Debutant Jabari Banks will play the lead role of Will, which was originally played by Will Smith in the 1990s sitcom.
Banking hours were revised several times in the wake of rising COVID-19 cases in Bengal during the course of the second wave.
Incidents of pawning fake gold to avail of loans from cooperative banks and swindling crores of rupees through fake loans are rampant in Kerala.
Such loan offers were generated using the customer transactions data within the banks.
Sitharaman's meeting with MD and CEOs of PSBs assumes significance given the importance of the banking sector in generating demand and boosting consumption in the backdrop of the Covid second wave.
IBA, entrusted with the task of setting up a bad bank, has put a preliminary board for NARCL in place. The company has hired P M Nair, a stressed assets expert from SBI, as the managing director.
RBI cancelled 6 licences, issued 123 directives & imposed penalty on UCBs so far in 2021
Business correspondents of various banks, empowered to provide cash transactions up to Rs 20,000 among others, will render services in village RBKs where there are no bank branches.