Rules that the persons can’t be held responsible for misconduct in this issue of co-location case
RBI has also asked providers to alert or send information to customers through SMS or e-mail whenever there is any change in the status of the card.
Banks have also been asked to offer all cardholders the facility to switch on or off and set or modify transaction limits within overall card limit.
Bank strike on January 31, February 1: If the strike materialises, it will coincide with the Union Budget presentation in the Parliament on February 1. In a circular, UFBU accused the Indian Banks' Association of not paying heed towards the wage revision demand of the bank employees.
Instead of keeping their major goals in life on hold, credit seekers are achieving them by being cautious, the company said in a report titled 'BankBazaar Moneymood 2020'.
The revenue from retail business rose 31.6 per cent year-on-year to Rs 5,026 crore from Rs 3,819 crore.
The jump comes on the back of a 62 per cent year-on-year (y-o-y) rise in total income to Rs 3,075 crore as the benefits of the bank’s acquisition of Gruh Finance came into play.
Patra, who is currently looking after the Monetary Policy Department as the Executive Director, has been appointed to the post for three years.
Patra, 59, replaces Viral Acharya, who quit from the post in July last year.
The co-operative banking sector has come under a cloud again after the decision. On Monday, worried customers rushed to the bank’s branches to withdraw their funds. Customers were able to withdraw only Rs 35,000 irrespective of their deposits.
Worried customers rushed to the bank’s branches to withdraw their funds. However, according to the RBI, customers can withdraw only Rs 35,000 of the total balance in every savings bank or current account or any other deposit account.
The affidavit further said that Kochhar's conduct has caused substantial embarrassment to the bank and all the stake-holders, and has led to an irreparable reputational loss to the bank.
Data shows that the bank credit outstanding for the eight months of FY20 expanded by just 1 per cent.
The overall NPAs of commercial lending declined 20 bps to 16.8 per cent in September last, marginally lower than 17 per cent in September 2018, the report said.
The new scheme, the Residential Builder Finance with Buyer Guarantee (RBBG), will enable home loan customers to seek refund if a builder fails to meet the deadline under the Real Estate (Regulation and Development) Act.
While fund managers attributed the drop in the asset base to outflow of Rs 78,426 crore from debt-oriented schemes, equity funds witnessed a rise in inflows on a month-on-month basis and a decline on a year-on-year basis.
Rajnish Kumar said credit growth is going to be muted for some time and the banking sector may not witness the double-digit growth which it has seen in the past.
Multiple banking activities in bank branches of various PSU banks such as cash withdrawal and deposits have been affected due to the strike across the country.
The importance of broad-based prosperity has been well recognised for a long time and there is a consensus on the need to ensure that the benefits of economic growth reach the populace at large, he said.
With this, India has joined an elite club of a handful of countries having payment systems that ensure round the clock funds transfer and settlement on real time basis.