After all public and private banks across India, including the State Bank of India (SBI), enjoyed a relaxed workweek starting April 14, the Indian banking sector is in for a busy week ahead. The week starting April 21 comes with no local holidays or festive offs for the bankers, other than the Reserve Bank of…
Bank Holidays next week: Banks will close for up to two days in almost all parts of India, due to Eid-ul-Fitr and a weekend holiday, according to the bank holiday calendar by the Reserve Bank of India (RBI). Banks will be closed in all states across India except Mizoram (Aizawl) and Himachal Pradesh (Shimla) for…
A new Bill proposed in the Parliament has a provision which says that deposit and locker holders can name up to four nominees instead of one. The Bill that carries this provision is Banking Laws (Amendment) Bill which was introduced in Lok Sabha on Friday. The Bill also has provisions for new reporting dates among…
According to Udaya Kumar Hebbar, managing director, collections were delayed due to a combination of movement restrictions during the general elections, and more borrowers turning untraceable as they moved to cities. Stress owing to migration was visible in states like Rajasthan, Gujarat and Madhya Pradesh, Hebbar said. Â Earlier, Kotak Mahindra Bank and Ujjivan Small…
Banks will remain closed today, July 17, in selected regions of the country on account of Muharram/Ashoora/U Tirot Sing day, according to the Reserve Bank of India (RBI) guidelines. Banks will remain closed in Agartala, Aizawl, Belapur, Bengaluru, Bhopal, Chennai, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Raipur, Ranchi, Shillong, Shimla,…
Mule accounts, so named because they act as conduits for sending and receiving funds that do not belong to the bank account holder, usually remain dormant but can see a sudden spurt in typically low-value, high-volume transactions. The Reserve Bank of India (RBI) has urged banks to keep a close watch on such accounts. RBI…
