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6 in 10 Indians do mobile banking to just check account balance: Report More than six in 10 Indians (67 per cent) said that the majority of their mobile banking logins are simply to check account balances, a new report said on Monday. According to the global IT services firm Accenture, only 42 per cent of respondents rated their primary ...

Probe all officials, including of RBI, on Lakshmi Vilas Bank watch: AIBEA Finance Minister Nirmala Sitharaman should intervene in the Lakshmi Vilas Bank (LVB) issue and announce that it would be amalgamated with a public sector bank, the All India Bank Employees` Association (AIBEA) said on Tuesday. The AIBEA also said that the Reserve Bank of India (RBI) cannot simply ...

RBI restricts withdrawals from Jalna-based Mantha Urban Coop Bank for 6 months Reserve Bank of India on Tuesday imposed restrictions on withdrawals from Maharashtra-based Mantha Urban Cooperative Bank for six months. The RBI, in a release, said it has issued certain directions to Mantha Urban Cooperative Bank, Mantha District Jalna, Maharashtra, from the close of business on November 17, 2020. ...

Capital needed for banking licence may be doubled if RBI accepts recommendations To ensure that entities seeking private banks licence remained adequately capitalised to meet any eventuality, a Reserve Bank of India internal committee has recommended nearly doubling of the initial capital and net worth requirements to be eligible for getting a banking licence. The P.K. Mohanty headed working committee ...

World No. 1! RBI Twitter handle is the most popular of them all – globally The Reserve Bank of India’s (RBI) Twitter handle achieved 1 million followers on Sunday, turning it the first central bank in the world to achieve the feat. Taking to Twitter, RBI Governor, Shaktikanta Das wrote: “RBI Twitter account reaches one million followers today. A new ...

Major bank union oppose banking licences to industrial houses The Indian banking sector`s largest union, the All India Bank Employees` Association (AIBEA), on Tuesday opposed the recommendations made by the Reserve Bank of India`s (RBI) Internal Working Group as they are “retrograde” and would endanger people`s money.           “We strongly denounce the provocative recommendations of the ...

Protection of Lakshmi Vilas Bank could be done without compromising national interests: Swadeshi Jagran Manch Swadeshi Jagran Manch has written to Shaktikanta Das Governor Reserve Bank of India, saying protection of the beleaguered Lakshmi Vilas Bank could be done without compromising national interests. The letter from Swadeshi Jagran Manch read, “This refers to the news published in various Media that ...

Lakshmi Vilas Bank moratorium ends on Nov 26; good news for account holders, cap on cash withdrawals ends Nov 27 Lakshmi Vilas Bank (LVB) moratorium period will come to an end on Thursday and normal banking operations would commence thereafter, RBI-appointed administrator T.N. Manoharan said. That means cap on cash withdrawals for bank account holders goes too. “The moratorium period ends ...

Lakshmi Vilas Bank shareholders compensation: Mumbai HC admits writ petition Lakshmi Vilas Bank shareholders compensation: Shareholders of the 94-year-old Lakshmi Vilas Bank (LVB) have started knocking the doors of justice for a fair valuation of their bank, the amalgamation of which takes effect from Friday onwards. On Thursday, Indiabulls Housing Finance Ltd, Kare Electronics and Development Pvt Ltd and others filed ...

Lakshmi Vilas Bank writes off bonds worth Rs 318 cr ahead of merger with DBS Bank A day ahead of its merger with the Indian arm of Singapore-based DBS Bank, the debt-ridden Lakshmi Vilas Bank (LVB) on Thursday has written off bonds worth Rs 318.20 crore as per the existing provisions. As per the effective date of merger notified by ...