TN may allow captive windmills to use power banking facility again

Power banking is like cash banking whereby wind power producers feed in the electricity generated by their windmills to the state grid and then draw that power for captive use within a year.

published on : 25th November 2023

‘Banks will need capital as RBI hikes risk weight on loans’

The impact of the circular is limited to consumer loans. Housing loans, education loans, vehicle loans, and loans secured by gold and gold jewellery do not fall under its purview.

published on : 18th November 2023

95% of customers use digital banking: Bandhan Bank CEO  

The Kolkata-based private sector lender is focusing on diversification of asset portfolio, and aims to increase the share of housing loans to 30% by FY26

published on : 6th November 2023

Bank of Baroda associates stole funds from hundreds of accounts via mobile app, says report

A whopping 4.2 lakh accounts, belonging to 7,000 branches, were suspected to have been wrongfully registered on the bank’s mobile banking application, and were subjected to an audit, said the report

published on : 12th October 2023

Odisha: 6 public sector banks roped in for outlets in unbanked panchayats

As decided, the state government will provide rent free banking space for five years and bear one-time expenses for fixed cost and recurring expenses for a period of three years.

published on : 14th September 2023

Here's how you can use RBI's UDGAM portal to locate your unclaimed bank deposits

The RBI’s new portal is designed to support people in locating and retrieving their unclaimed deposits lying with various banks

published on : 21st August 2023

Banks post stellar numbers in Q1

Higher loan growth, fall in NPAs, jump in interest income helped lenders post healthy profit

published on : 9th August 2023

VXI opens delivery centre in Hyderabad

The state-of-the-art facility is fully equipped with the latest technology and boasts a sprawling 120,000 sq. ft. of office space.

published on : 3rd August 2023

HSBC reports bumper profits on rising interest rates

Given the current market consensus for global central bank rates, we have raised our 2023 full-year guidance for net interest income to above $35 billion, the banking giant said.

published on : 1st August 2023

'Banks known for record losses under UPA now making profits': PM Modi in Rozgar Mela

Highlighting his government efforts, the PM claimed the current government has moved India from being the 10th largest economy in the world to the 5th largest economy now in just a span of 9 years.

published on : 22nd July 2023

Vehicle rally in TN launched against privatisation of banks

While flagging off the rally in front of the VOC College, Jegan said Chief Minister MK Stalin and his government will support the bank employees' fight against privatisation.

published on : 20th July 2023

MSME defaults rise can worry banks

Likewise, the MSME sector has witnessed a healthy double-digit growth for some time.

published on : 15th July 2023

Bank of America fined USD 250 million for 'double-dipping' fees and fake accounts

The fees came when customers had routine monthly transactions. If a customer had too low of a balance to cover the transaction, it would be declined and BofA would charge the customer a USD 35 fee.

published on : 12th July 2023

Reserve Bank says high proportion of retail credit poses systemic risk

The report noted that in the long-term, such concentration portfolio strategies (of banks) can result in the emergence of systemic risks.

published on : 26th June 2023

Lloyds pick Hyderabad for its Tech Centre

Group will hire over 600 highly skilled tech, data & cyber specialists before the end of 2023

published on : 22nd June 2023

Banks likely to hit pause button on Fixed Deposit rate hike

Experts say banks might maintain current interest rates in FDs, however, investors seeking to maximise their returns may remain invested

published on : 12th June 2023
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