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Banks need to scale up investments in technology, says RBI’s MK Jain Indian banks and financial institutions should increase investments in technology as their legacy systems may not be suited to rapid changes in product design and computation, said MK Jain, deputy governor of the Reserve Bank of India. Banks and financial institutions should foster continuous innovation, ...

kotak mahindra bank: Kotak Mahindra Bank revises FD interest rates from today: Check details here [ad_1] Kotak Mahindra Bank has revised the interest rates offered on its fixed deposits (FDs). The revised interest rate is applicable on a deposit of less than Rs 2 crore. The revised interest rates on FDs are effective from today i.e., December 9, 2022. The ...

Govt may extend bid submission deadline for stake sale in IDBI Bank The government may extend until early January 2023 the deadline for submitting bids for the strategic disinvestment of IDBI bank, said an official. The last date for expression of interest (EOI) submission is December 16. The deadline could be extended after the Department of Investment ...

canara bank home loan: PNB, Canara Bank hike home loan interest rates; check details here [ad_1] With the Reserve Bank of India (RBI) hiking its repo rate by 35 basis points (100 bps/basis points = 1 per cent) on December 7, 2022, several banks increased their home loan interest rates in last two days. Now Punjab National Bank and Canara ...

Rupee appreciates 19 paise to 82.19 against US dollar in early trade The rupee appreciated 19 paise to 82.19 against the US dollar in early trade on Friday on broad dollar weakness and a firm trend in domestic equities. Forex traders said sustained foreign fund outflows weighed on investor sentiments and restricted the appreciation bias. At ...

How NPS account charges are deducted from your retirement corpus [ad_1] If you are a National Pension System (NPS) investor, it is important to know how much charges are levied on your NPS account and how they are deducted. According to NPS scheme rules, three charges are applicable: a) Account opening charges b) Financial or non-financial transaction charges c) Annual ...

HDFC Bank files petition for NCLT approval to the proposed merger HDFC Bank has filed a joint scheme company petition with the National Company Law Tribunal (NCLT) in accordance with Section 230-232 of the Companies Act seeking sanction of the tribunal for the merger proposed between HDFC Bank and HDFC Ltd. The bank has already received the ...

Give us money to burn, we can build a UPI-like product: Axis Bank’s Amitabh After being chided by RBI brass for missing the UPI bus by not investing early, a top executive of Axis Bank on Thursday said banks do not have money to burn for building such businesses. “We didn’t have Rs 3,000 crore of money ...

fixed deposit interest rates: These 2 banks offer above 9% interest rate on FDs [ad_1] In 2022, banks started increasing fixed deposit (FD) interest rates. And since then the FD interest rates offered by many banks are now in the range of 5-8%. Banks also offer higher interest rates for senior citizens. Particularly for individuals seeking advantages like high liquidity, ...

ICICI Bank raises Rs 5,000 crore via infrastructure bonds to fund projects Private sector lender ICICI Bank has raised Rs 5,000 crore through infrastructure bonds for funding projects in segments like power, roads etc. The coupon for seven-year paper was fixed at 7.63 per cent, about 25 basis points above yield on government benchmark bonds with similar ...