SBI savings bank account for minors: All you need to know

Congress regime led by Rahul Gandhi would cancel NEET if it comes to power: Puducherry CM V Narayanasamy Ministry of Culture plans web series on Independence struggle, virtual tours of important monuments Around 20% of online train ticket inventory has opened for the public: Report

SBV tells banking industry to develop an inclusive finance system

By 2015, NFIS set targets to have at least 80 per cent of adults having bank accounts or accounts with other authorised organisations, at least 20 branches and transaction offices of commercial banks per 100,000 adults, at least 50 per cent of the total number of communes that have financial service points, at least 25 […]

Despite lower interest rates, people still put money in banks

Viet Nam Technological and Commercial Joint Stock Bank (Techcombank) announced it would lower deposit rates from 0.3 to 0.6 percentage points per year for short-term deposit from two weeks earlier. Currently, the interest for a one-month term deposited at Techcombank is 2.7 per cent per year.

SBI, HDFC, ICICI Bank see surge in suspicious transactions during COVID-19: Report

The Financial Intelligence Unit (FIU) has been inspecting several transactions and even pulled up some of the large public sector banks for taking the mechanism of red flags “casually”, a senior bank official told ET. Regulations demand banks, non-banking finance companies and insurance companies to report suspicious transactions to FIU every month. The report suggests […]

SBM bank ties-up with Mastercard, launches SBM world debit card

State Bank of Mauritius (SBM) India and Mastercard announced the launch of a unique debit card customized for the refined needs of high net worth customers. The SBM World Debit Card represents a blend of niche banking solutions and carefully curated lifestyle privileges, including some shopping and dining opportunities.The bank said the card has been […]

Bank CEOs discuss accelerated digital shift after COVID-19 pandemic

COVID-19 pandemic has led to numerous disruptions in business models, operations, and functioning of industries all throughout the globe. The banking sector globally, and more specifically in India has been no exception. In the past six months, Banks have moved and accelerated their transformation digitally, ensuring no customer left behind in the process of bouncing […]

The world’s central banks are starting to experiment. But what comes next?

The problem of sustained low inflation first emerged in Japan in the 1990s. It was then the exception. The events of 2008 shocked the financial systems of Europe and the US. Central banks responded with dramatic asset purchases, known as quantitative easing. That staved off disaster, but it left lacklustre growth and prices drifting perilous […]

Accelerating workforce transformation to help banks stay competitive

banking sector, it is imperative for banks to transform their workforce to become digitally flexible and agile. The HR panel at ETBFSI Converge discussed the impact on the workforce with digitization, automation, and emergence of fintechs. Constraint: The mother of Innovation and changeRajkamal Vempati, Head HR, Axis Bank, says that the interface of man and […]

Banks catalysts of economic revival, make special efforts to reach out to people: Nirmala Sitharaman

The minister said easy access and efficiency in providing banking services will help in revival of businesses which are restarting operations after the lockdown. “This is where if I have praised you for the wonderful service that you did during the lockdown. Now, it is incumbent on all of us to make sure that facilitation […]

Banks are catalysts of economic revival: Sitharaman

The initiative provides convenience of banking services to customers at their doorstep through the universal touch points of call centre, web portal or mobile app.