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RBI takes to SMSes, missed-call helpline against prize frauds

RBI takes to SMSes, missed-call helpline against prize frauds

Taking the fight to the arena used by fraudsters promising prize money from the RBI, the central bank has itself launched an SMS campaign and a ‘missed-call’ helpline to warn…

RBI keeps repo rate unchanged at 6%

RBI keeps repo rate unchanged at 6%

RBI kept the key interest rate unchanged, on the expected lines, but raised the inflation forecast for remainder of the current financial year to 4.3- 4.7 per cent. The 6-member…

SBI to redesign envelopes for dispatching tax cheques to protect PAN

SBI to redesign envelopes for dispatching tax cheques to protect PAN

State Bank of India will ‘redesign’ its envelopes used to dispatch tax refund cheques of customers to cover their PAN and contact numbers, after an activist raised that the crucial…

A century of the princely Re 1 ‘coin’!

A century of the princely Re 1 ‘coin’!

Its genesis lies in the World War I where the inability to mint coins forced the then colonial authorities to shift to printing Re 1 notes in 1917. The last…

Ordinance puts premium on integrity, promotes clean biz: FinMin

Ordinance puts premium on integrity, promotes clean biz: FinMin

The bankruptcy ordinance promulgated by the President last week will pave the way for clean business by putting a premium on integrity, a senior finance ministry official said. The official…

No loan waiver for capitalists, says Jaitley

No loan waiver for capitalists, says Jaitley

The government has not waived any loans of big NPA defaulters, Finance Minister Arun Jaitley said dismissing rumour that loans of capitalists are being written off by banks. In a…

No proposal to withdraw cheque book facility: FinMin

No proposal to withdraw cheque book facility: FinMin

The finance ministry said there is no proposal to withdraw the bank cheque book facility as part of exercise to promote digital transaction. The clarification comes in the backdrop of…

Federal Bank eyes MF business

Federal Bank eyes MF business

After a foray into the life insurance business and setting up of a NBFC subsidiary, Kerala-based Federal Bank is now looking at the mutual fund (MF) vertical for further expansion…

Not to pursue Islamic banking in India, says RBI

Not to pursue Islamic banking in India, says RBI

In a major move, the Reserve Bank of India (RBI) has decided not to pursue a proposal for introduction of Islamic banking in the country. Replying to an RTI query,…

Limited space for further cut in lending rate: SBI chief

Limited space for further cut in lending rate: SBI chief

State Bank of India Chairman Rajnish Kumar said that there is limited space for further easing of the lending rate. ‘It seems so’, he said in reply to a question…

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