Tens of millions of customers and employees of major banks,hotels and retailers are now at risk.
Kotak Mahindra Bank launched Interbank Mobile Payment Service (IMPS) for its customers.
'The hike in the repo rate is expected despite the sharp monetary tightening since early 2010.'
Prepaid cards industry in the country will get doubled in next 2-3 years.
With more and more Indians opting for health insurance policies,the claims paid by insurance companies jumped over 82 per cent to Rs 7,456 crore in 2009-10.
Internet mobile phone payment service is becoming the new buzzword in the banking industry with more and more lenders readying their plans to join the bandwagon.
Indian Infrastructure Finance Company would mop up around Rs 1,200 crore from tax-saving infrastructure.
With over 10-crore savings accounts opened under it,the national rural employment guarantee scheme (MGNREGS) has become the worlds largest financial inclusion programme. Here are stories of people who are now truly financially empowered:
Building on their strengths,Indian banks have consolidated their position on the Brand Finances Top 500 Global Financial Brands 2011,with 13 of the 18 listed banks improving their brand performance against last year.
Home loan major HDFC on Tuesday hiked interest rates on floating rate home loans by 25 basis points in a move that will make loans costlier for both existing and new borrowers.
HSBC Holdings bankers conspired with a US man in India; he now faces a 5-yr jail term.
SBI Life set a new milestone by crossing the landmark figure of Rs 300 crore in net profit.
Banks are bracing for another round of hike in loan and deposit rates. The unexpectedly high food inflation has convinced bankers that more rate hikes are in the offing. Food inflation was at 18.3% for the week ended December 25.
When Manju Srivatsa and Rajagopal Srivatsa quit in December 2010 it was one of the many senior management exits Axis Bank has seen since Shikha Sharma took over the reins of the bank in June 2009.
Leading rating agency CARE expected the improvement in yield on advances to outpace the growth in cost of deposits in the banking industry.
"Deposit rates could go up by 50 basis points or more," SBI Chairman O P Bhatt," said.
RBI governor D Subbarao said the mechanism for loan disbursals should always be transparent in view of all the grievances and complaints.
ICICI Bank sees an upward bias in interest rates,its CEO & MD Chanda Kochhar said on the sidelines of the World Economic Forum that closed on Tuesday.
The banks can maintain 24% SLR on Oct 30-31.
A nominee can only receive the money of a bank depositor who has died but the person cannot claim to be the absolute owner of the money lying in the account.