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Bank ATMs stop sucking in cash after RBI direction

Bank ATMs stop sucking in cash after RBI direction

Next time you go to an ATM to withdraw cash, don’t worry about the banknotes getting sucked back by the machine if not collected immediately, as RBI has asked all…

Challenges persist in India loan market

Challenges persist in India loan market

India has recorded syndicated loan volume of only $7.2billion for the first nine months of 2012, just one-third of the $21.2billion closed by the end of the third quarter last…

HDFC Bank hints at interest rate cut

HDFC Bank hints at interest rate cut

Country’s second largest private sector lender HDFC Bank on Tuesday said it will decide on a possible interest rate cut later this week. “When costs go down, interest rates will…

FinMin for no charges on e-transfer of funds up to Rs 1 lakh

FinMin for no charges on e-transfer of funds up to Rs 1 lakh

To promote cashless transactions, the Finance Ministry has asked public sector banks to take steps to reduce the fee to zero for electronic transfer of funds up to Rs one…

SBI hints at more lending rate cuts

SBI hints at more lending rate cuts

State Bank of India on Monday said though there is little room for further reduction in the base rate, it could cut lending rates in select categories, as it recently…

Govt asks banks to cut cheque transactions

Govt asks banks to cut cheque transactions

To promote electronic payments, the government has asked banks to reduce cheque-based transactions by at least 20 per cent through identified branches in 2012-13. The Finance Ministry has directed banks…

Regulator warns banking union could split Europe

Regulator warns banking union could split Europe

Plans to create a European banking union risks a supervisory split between countries in the euro zone and those outside, Europe’s top bank regulator said on Wednesday, warning of his…

SBI cuts base rate by 25 bps, others likely to follow suit

SBI cuts base rate by 25 bps, others likely to follow suit

State Bank of India on Tuesday became the first bank to reduce the lending rate by 0.25 per centafter RBI’s policy announcement on September 17. Other banks are likely to…

Standard Chartered Bank – Latest Banking Sector Crack.

Standard Chartered Bank – Latest Banking Sector Crack.

Standard Chartered Bank is the third British bank to be ensnared in U.S. law-enforcement probes this summer. Barclays Bank agreed to pay $453 million to settle U.S. and UK probes…

RBI slashes CRR by 0.25 per cent amid high inflation

RBI slashes CRR by 0.25 per cent amid high inflation

The Reserve Bank of India (RBI) in its quarterly monetary policy review on Monday announced a 0.25 per cent cut in Cash Reserve Ratio (CRR). CRR is the amount of…