Kotak also spoke about the need for bad banks to resolve bad loans.
Banks remain closed on April 1 every year for their annual closing of accounts.
Bank of Maharashtra accused 22 residents of Bhayander for hacking its central server in Mumbai and exploiting a flaw in the UPI mobile app to siphon off Rs 1.42 crore from the bank.
In an interview with The Indian Express, Khara spoke about the nitty-gritties of the largest banking merger in India so far.
Finance minister Arun Jaitley on February 28 last year had announced the Direct Tax Dispute Resolution Scheme.
This means banks are yet to file criminal charges against 1,080 wilful defaulters who siphoned off funds or are yet pay up despite having the capacity to pay up.
N S Vishwanathan said NPAs (Non Performing Assets) are affecting the income and profit of banks.
In the note ban quarter, the growth rate of inward remittance slipped to 56 per cent from a high of 342 per cent in the preceding quarter.
The concerned departments of the Reserve Bank undertaking government business will also remain open on the above days.
Public sector banks had seized 889 properties involving Rs 18,352.63 crore in 2015-16 and 653 properties amounting to Rs 16,398.92 rupees in 2014-15.
‘Oversight committee can be enlarged... also looking at JLF mechanism’
Under its past Governor Raghuram Rajan, the RBI had shown its reluctance on such populist schemes, saying it entails a "moral hazard".
Centre keen on cash-rich PSUs buying a portion of the mortgaged assets in their respective sectors
The bonds, in nature of secured redeemable non-convertible debentures, will bear coupon rate of 7.78 per cent per annum.
The ECB may be willing temporarily to forego its requirement to pre-approve the financial models banks use to determine risks, provided that these models have already been approved in Britain.
Shares of Axis Bank were trading 2.07 per cent higher at Rs 498.10 on BSE.
49.9 per cent more people, essentially farmers, opted for private loans in 2016 compared to 2015
RBI says customers of 5 associate banks to be treated as customers of SBI
In another reply, he said the NPAs of the state-run banks reduced by Rs 37,815 crore in 2016.
The government had initiated the demonetisation move last year in September where old currency notes of Rs 500 and Rs 1,000 ceased to be legal tender.
‘Total outstanding credit for agriculture sector is `86,241.20 crore in the state’
"SBI has got an exposure of more than Rs 46,000 crore to women customers segment of the bank."
According to the RBI, entities, seeking approval/authorisation from the RBI for issuance of PPIs should have a minimum positive net worth of Rs 25 crore.
" It is in these circumstances that this court is of the opinion that applicants deserve to be enlarged on bail."
The central bank has sought comments on draft circular on Master Directions on Issuance and Operation of Pre-paid Payment Instruments (PPIs) in India till March 31.
Federal Bank has got the approval to open representative office in Bahrain and in the Dubai International Financial Centre.
Stating that the move will hit 31 crore depositors, he said the SBI being the largest bank in the country is likely to be followed by other banks.
According to sources, the next round of consolidation in the PSU banks would begin after these six lenders are integrated with SBI.
A roadmap is being worked out to deal with the issue of NPAs in near and medium term.
Justice S S Jadhav granted bail on payment of surety bond of Rs 1 lakh each.
Bhattacharya said in order to have a sustainable growth, India needs to adopt a model led by the farming sector.
Prior to 1867, the financial year in India used to commence on May 1 and end on April 30 of the following year.
According to the minister, the National Payment Corporation of India (NPCI) has said no independent investigation was carried out by it.
Parekh gave the example of the steel industry which was reeling under immense pressure due to cheap Chinese imports, but is now working on higher capacity after the government introduced minimum import pric
Over the years, central banks across the world have been exploring different solutions like plastic notes and other developments in banknote substrates for extending the life cycle of banknotes.
The MDR is the charge for facilitating a digital transaction and is to be split among all stakeholders.