You need to submit fresh KYC documents in certain cases: When is it required? [ad_1] The Reserve Bank of India (RBI) has asked bank customers to update their Know Your Customer (KYC) by furnishing a fresh KYC or re-KYC in certain cases. According to the central bank, a new KYC procedure can be completed in person at a bank branch ...

Rupee rises 15 paise to 82.47 against US dollar in early trading The rupee gained 15 paise to 82.47 against the US dollar in early trade on Friday tracking a firm trend in domestic equities. Forex traders said sustained foreign fund outflows and strength of the American currency in the overseas market weighed on investor ...

First Abu Dhabi Bank PJSC explored offer for Standard Chartered First Abu Dhabi Bank PJSC said it was reviewing a potential bid for Standard Chartered Plc, which would have been a complex deal aimed at building an emerging markets lender with more than $1 trillion in assets. The Middle East’s largest bank was previously in the “very ...

Banks, FIs should play key role in financing NIP projects: DFS secy Banks, financial institutions (FIs), and newly established National Bank for Financing Infrastructure Development should play a proactive role in financing projects under the National Infrastructure Pipeline (NIP) to avoid crowding out of private investment, Vivek Joshi, secretary at the Department of Financial Services (DFS), said ...

Sebi permits govt to reclassify stake in IDBI Bank as public holding In a major dispensation, capital markets regulator Securities and Exchange Board of India (Sebi) acceded to the central government’s request to reclassify its shareholding in IDBI Bank after its disinvestment as “public holding”, the lender told the stock exchanges on Thursday. This is ...

Fund transfer to cheque return: Canara Bank revises charges on these 9 services [ad_1] Canara Bank has revised service charges for certain non-credit, non-forex related services with effect from February 3, 2023, according to the Canara Bank website. The bank has revised charges including Cheque Return, ECS debit return charges, Average Minimum Balance (AMB), Non-Maintenance of Average Monthly Minimum Balance, ...

Rupee gains on corporate investments, cheaper global oil prices The rupee strengthened sharply on Thursday due to corporate investments, a decline in global crude oil prices and as some traders bet on the currency to reverse a recent spell of underperformance, dealers said. The rupee settled at 82.55 per US dollar on Thursday as against 82.81 at ...

income tax budget 2023: Budget 2023: Experts state why basic income tax exemption limit should be increased to Rs 5 lakh [ad_1] To bring some much-needed relief to salaried middle-class taxpayers, Finance Minister Nirmala Sitharaman could increase the basic income tax exemption limit from Rs 2.5 lakh to Rs 5 lakh in the Union Budget 2023, mentioned experts. Currently, the ...

Banks, FIs must design project-based products to meet NIP target: DFS secy Banks and financial institutions need to design products in sync with requirements of infra projects in view of the whopping Rs 111 lakh crore National Infrastructure Pipeline (NIP), Financial Services Secretary Vivek Joshi said on Thursday. Observing that the infrastructure sector has strong ...

National Saving Certificate interest rate hiked: NSC rate for Jan-Mar 2023 quarter [ad_1] The government has hiked the National Savings Certificate interest rate for the January-March 2023 quarter to 7% from earlier 6.8%. The National Savings Certificate, or NSC, is a trusted savings product offered by the Indian Post Office that is well-liked by investors as a low-risk investment alternative. ...