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.
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.
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
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
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.
The RBI’s new portal is designed to support people in locating and retrieving their unclaimed deposits lying with various banks
Higher loan growth, fall in NPAs, jump in interest income helped lenders post healthy profit
The state-of-the-art facility is fully equipped with the latest technology and boasts a sprawling 120,000 sq. ft. of office space.
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.
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.
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.
Likewise, the MSME sector has witnessed a healthy double-digit growth for some time.
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.
The report noted that in the long-term, such concentration portfolio strategies (of banks) can result in the emergence of systemic risks.
Group will hire over 600 highly skilled tech, data & cyber specialists before the end of 2023
Experts say banks might maintain current interest rates in FDs, however, investors seeking to maximise their returns may remain invested