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Expecting waivers, farmers stop paying back bank loans? The write-off of farm loans in Uttar Pradesh and Maharashtra seems to be encouraging farmers in other states to stop paying back their farm loans to make sure that they will get the benefits of any farm loan waiver program in their state. This has led to a sharp increase in farm ...
SBI, IOB and Corp Bank only PSBs to charge for mobile NEFT Only three public sector banks -- State Bank of India, Indian Overseas Bank and Corporation Bank -- levy charges on even the smallest money transfer done via mobile phones using the National Electronic Fund Transfer or NEFT facility, data compiled from public sector banks show. ...
Measles makes a comeback, especially in North India The number of people getting infected with measles, a deadly disease that causes a red rash and is spread through the air, has shown a steady increase in four adjoining states of North India, as well as Gujarat.Measles is a highly contagious infection caused by the measles vi...
India bitcoin law not ready yet – Finance Ministry Finance Minister Arun Jaitley said there was no law on the use of bitcoin and similar crypto currencies in India, and users of such currencies may not get recourse to legal remedies for any damage.However, Jaitely added that the government has set up a committee that is expec...
SBI enables Samsung Pay for some of its debit cards State Bank of India said it was enabling payment by Samsung Pay service on some of its higher debit card variants.Samsung Pay works by mimicking the 'swiping' action of a credit or debit card by sending a magnetic pulse. The 'card machine' or point of sale machine mistakes th...
Haryana tops MG-NREGA wage list with Rs 277 per day, Bihar lowest The North Indian state of Haryana has emerged as the state with the highest daily wage under the Mahatma Gandhi National Rural Employment Guarantee Scheme at Rs 277.Bihar and Jharkhand came at the bottom with daily wages of Rs 168.The second highest wages was in Chandigar...
Fertilizer subsidy falls by Rs 8,000 cr after Neem coating Neem coating of urea, one of the key anti-diversion measures introduced by the Narendra Modi government to check the misuse of fertilizer urea by industries, seems to be paying off.According to the latest numbers, the Indian taxpayer saved about Rs 8,000 cr thanks to the move...
Demonetization took India forward by 3 years – SBI The demonetization of currency notes late last year has doubled the number of card transactions and helped push India's payment digitisation by three years, State Bank of India said in a note."Even after seven months post demonetization, the transaction value is quite large ...
SBI clears SB Life IPO, to sell 80 mln shares State Bank of India said it had decided to conduct an initial public offer for some of its shares in its insurance subsidiary SB Life Insurance. BNP Paribas Cardif S.A. would also sell some of its shares in the offer.It said the offer would involve 8 crore shares.No valua...
RCom says telcos facing cash flow issues due to ‘go slow’ approach by banks Telecom operator Reliance Communications said companies in the sector are facing cash flow issues due to what it called a 'go slow' approach taken by banks in disbursing loans.In an update on its 'standstill agreement' with its lenders, which provides it a window of seven mon...
Farm loan wavers can impact India’s financial profile – Fitch Ratings agency Fitch said the string of farm loan waivers announced by various Indian states could impact the financial profile of the country as a whole.The agency, however, did not directly say that the moves could lead to a downgrade in India's credit rating, which would i...
Axis Bank says 8 NPA accounts fingered by RBI owes it Rs 5,283 cr Axis Bank said eight of the 12 big defaulters highlighted by the Reserve Bank of India in its June 15 circular owed over Rs 5,000 cr to the bank.The RBI had given a list of 12 large accounts which together owed about 25% of the total bad loans of Indian banks. The total bad l...
Axis Bank confirms exiting POS maker Mswipe Axis Bank confirmed it had sold its 8% share in new-generation card-swiping-machine company Mswipe Technologies.In a regulatory filing, the private sector bank said it sold its 8% stake for Rs 80.94 cr, or Rs 4,249 per share.Mswipe is one of the new generation, low-cost ...
India’s trade gap doubles in May as exports grow fast India's merchandise imports continued to grow at a blazing pace, widening the gap between the foreign exchange that the country earns from its exports and the money that it has to shell out for its imports.Imports for May rose by 33% compared to a year ago, resulting in a do...
SBI opens QIP at floor price of Rs 287.58 State Bank of India said its committee of directors for capital raising has decided to start receiving bids a qualified institutional placement of its shares with a floor price of Rs 287.58 per equity share."The Bank may offer a discount of not more than 5% to the Floor Pric...
RCom formally assures lenders it will pay Rs 25,000 cr in four months Anil Ambani Group's telecom arm Reliance Communications said it has 'formally' communicated to its lenders that it will pay an amount of Rs 25,000 cr to them on or before Sept 30.The latest statement from the telecom operator comes as a way of reassuring investors and lenders...
Fitch cuts IDBI Bank rating as NPAs climb to 21% Fitch Ratings said it downgraded IDBI Bank's Long-Term Default Rating and its 'viability rating' by one notch each to 'BB+' and 'ccc' with a stable outlook."IDBI Bank's Viability Rating reflects the deterioration of its financial profile in the last two years and our expectat...
PAY REVISION: IDBI Bank employees to strike again tomorrow, May 23 IDBI Bank, one of India's largest government-controlled banks, said it received notice of strike from the "United Forum of IDBI Bank Officers and Employees".The strike will be on Tuesday, May 23, and is aimed at demanding "revision of pay and allowances and other issues," the...
SBI says free ATM transactions not withdrawn India's largest bank, State Bank of India, denied reports that it had scrapped the facility of providing free ATM transactions.SBI CIRCULARThe bank was responding to media reports that said that all transactions will be chargeable from now on.Under the Reserve Bank o...
Supreme Court dismisses Center’s reasons for not appointing Lokpal The Supreme Court has dismissed the government of India's stand that it cannot appoint the Lokpal as there was no leader of the opposition.The court's decision came on a bunch of petitions seeking the appointment of a Lokpal is likely to lead to the first ever appointment...
Govt likely to intensify efforts to create All India Judicial Service High Court of Karnataka, DharwadDespite setbacks and opposition from both state governments and the judiciary, the central government is not ready to give up the proposal to set up an all India service for recruitment of judges modeled on the Indian Administrative Service an...
Air India lifts ban on Shiva Sena MP Ravindra Gaikwad Air India has been told to remove Shiva Sena MP Ravindra Gaikwad from its 'no fly list' after pressure from Gaikwad's party on the central government.According to reports, the MP had tried to book flight tickets again today morning, but could not.However, Air India ha...
Govt to strengthen official email service to lure employees from pvt providers Government of India is overhauling its email system in an effort to encourage government officials to use only their official email accounts for official purposes, the IT department said.At present, many government officials use private email services such as Gmail and Yahoo ...
Rs 1.7 lakh cr deposited via demonetization may not be withdrawn – SBI Monthly cash withdrawals for all banks | source:SBI ResearchThe Indian banking system is likely to get a permanent liquidity boost of Rs 1.7 lakh cr due to the demonetization of high-denomination bank notes, State Bank of India chief economic adviser said in a note to bank c...
Trademark registration up three fold in India National Institute of Intellectual Property Mgmt, DelhiThe number of trademarks awarded by the India's Controller General of Patents, Designs & Trade Marks has jumped threefold this financial year, according to data obtained from the Patent Office.A total of 2.11 lak...