Articles by "Banks"
Showing posts with label Banks. Show all posts

at 0
Get latest online news, taaza, breaking news updates, political, business, entertainment, movies, music, national, international, state news.

Indian opposition parties say thousands of people will participate in nationwide protests against the BJP Government's ban on 500 and 1,000 currency notes. Oppositions argue that it causes bedlam as people lined up at banks to exchange their old currency. Indian Prime Minister Narendra Modi has defended the decision saying it was an anti-corruption measure. And the opposition parties says that the move was wreck. The Kerala State ruled by the Communists is likely to see a shutdown while a major protest reunite has been planned in the eastern city of Kolkata. In Bangalore Congress party will hold a protest march where up to 4,000 people are expected to participate, according to sources.


In India about 90% of transactions are in cash and many people don't have a bank account. PM Modi called on people to clutch digital payments and use less cash. The former Prime Minister Manmohan Singh said that the government's move to ban the much-used banknotes was ‘monumental mismanagement’ and that the gross domestic product (GDP) would fall by about 2%. There have been chaotic scenes in India ever since the currency ban was announced two weeks ago. 
Continue reading

at 0
Get latest online news, taaza, breaking news updates, political, business, entertainment, movies, music, national, international, state news.

The State-run United Bank of India (UBI) has started its 36th regional office in Hyderabad to boost business in Telengana and Andhra Pradesh. The Kolkata-based lender has sculpted this new regional division to increase its focus in telugu states. UBI's advances in Bangalore region, Karnataka was seven times of what it has collected as deposits. The bank said that the business for the new region now stands at INR 2,935 Crores following the operational reign with deposits at INR 450 Crores and advances at INR 2,485 Crores. The new region has already 34 branches while UBI also plans to open 8 more branches in this year. The undivided Bangalore region had 67 branches with a total business of INR 5,381 Crores. Total deposit were INR 755 Crores while advances were at INR 4,626 Crores. UBI has 4.10 Crore customers. Pawan Bajaj (UBI Managing Director) said that the opening of Hyderabad Region would strengthen bank's outreach in telugu states.
Continue reading

at 0
Get latest online news, taaza, breaking news updates, political, business, entertainment, movies, music, national, international, state news.

The largest illegal computer break-in to have hit the Indian banking industry has provoke the Union Finance Ministry to demand all relevant information from the banks affected and details on the steps being taken, and need to be taken, to prevent such incidents. The department of financial services has queried the Indian Banks Association on the implications of such a data breach. “We have got information from SBI that PIN (Personal Identification Number) related with few debit cards has been compromised and the bank is in the process of replacing it with new card in secured manner,” the sources said. The reaction follows reports of a data breach originating on financial services provider Hitachi Payments Systems (which provides services to Yes Bank.) Bankers say the breach took place in such a way that anyone using the said bank’s ATMs in the region might be vulnerable.

Hitachi Payment Services, however, has maintained its system was not compromised, citing interim report by an external audit agency appointed by it. The incident has prompted several major banks in both the public and private sectors to reach out to customers and ask them to change their PIN (Personal Identification Numbers) immediately or even blocked  and recalled cards that have been made vulnerable. The number of debit/credit cards affected have reached more than 32 lakh. The largest single data breach in modern Indian banking history. Even before news of the breach was made public, banks had begun informing customers to change their PINs immediately. State-run lender State Bank of India has reportedly recalled 6 lakh affected cards, while private sector banks like ICICI Bank, Axis Bank, HDFC Bank and Yes Bank asked customers to change their ATM PINs. HDFC Bank also advised its customers to use its own ATMs for carrying out any transaction.  Other public sector banks like Bank of Baroda, IDBI Bank, Central Bank and Andhra Bank have also replaced debit cards of several customers as a pre-emptive measure. Of the cards affected in the breach, 81 per cent were on the Visa or Mastercard platforms. 6 lakh were RuPay cards.
Continue reading

at 0
Get latest online news, taaza, breaking news updates, political, business, entertainment, movies, music, national, international, state news.

When the several banks are waver under high levels of loan defaults, rural lenders are showing how to rein in bad loans. Andhra Pradesh Grameena Vikas Bank reduced net non-performing assets (NPAs) or bad loans to 1.40 % in fiscal year 2015-16 from 2.3 2% in the previous year, by employing the Sarfaesi Act . According to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) banks can seize and auction the properties of willful defaulters to recover loans. V Narasi Reddy (Bank Chairman) said by auctioning willful defaulters properties online we are able to reduce our NPAs. We have been organising awareness camps among farmers to encourage them for prompt payment and have been making use of Lok Adalats to resolve disputes and arrive at a compromise. The bank's net profit increased nearly 11% to INR 223.47 Crores in 2015-16. Advances increased by about 17% to INR 1,536.16 Crores and deposits grew 23% to INR 1,922.11 Crores. Overall business grew nearly 20% to INR 3,458 Crores.

The Bank opened 23 branches in 2015-16 also plans to open another 50 branches this fiscal year. Digital transactions for the Bank increased 62 % through Rupay cards, Mobile and Internet banking in the last two years.
Continue reading

at 0
Get latest online news, taaza, breaking news updates, political, business, entertainment, movies, music, national, international, state news.

Look at our Banks they will not leave even a single rupee, they left Vijay Mallya. Read the following comparison between Mallya and Us.
  • A common man can’t withdraw more than INR 25,000 in a day from his bank account. He withdrew INR 215 Cr and left the country.
  • The minimum balance which we need to maintain is INR 0-10,000. But he can maintain a minimum balance of INR 1500 Cr.
  • We spends INR 1,000 for our birthdays. He burnt INR 90 Cr on his birthday party on a private island in Goa, and flew down Enrique.
  • We pay EMI on time by fearing phone calls and letters from the bank. He owes INR 7000 Cr to 17 Nationalised Banks and Bank does't know on which number he is available or where to send the damned letters.
  • Bank people will send reminders to us by call, sending mail and texting message. They will collect single rupee of debt from a common man by selling their house, properties etc and throw them to the roads. But in this Banks complained to High Court.
  • A common man have to rush to the bank for loan by follow all the formalities, then Banks will approve loan by taking mortgage of his property. But for him banks have not asked surety for granting loans.
  • Imagine if i owed the amount of money which he owed, I would have taken a bus or car to save whatever little i have left and escape my debtors. But he took a chartered jet and went to a private estate near London.
In this everybody in the country is busy by calling him as a huge failure. Our people are cracking bankruptcy jokes, poor man jokes, fat man jokes and absconder jokes on him. Just come out of it and think in reality that joke is actually on us. If you ask me, he is not a failure he makes other fail, this a new lesson in today's world. And our media has exposed him. No matter he is my 'hero'.
Continue reading
no image

at 0
Get latest online news, taaza, breaking news updates, political, business, entertainment, movies, music, national, international, state news.
[img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhoQ9Ojs8BJSjipr1QqBQ6oKk1b7g0H1xKnu_yTwi_rcLON8K44ekFNmz4bLMSFO4rRMyt1aG-W43dlqTZBReYaRJLKQY1YHKHz40TFjOs5AqBlpTkKCP8nZbpJoR6be5Wv5b0GokDGb1vH/s1600/Vijay+Mallya--621x414.JPG" width="250px" height="250px"][/img]

Vijay Mallya resigned from his post as chairman of United Spirits on Thursday which is controlled by Diageo Plc. Diageo will pay Mallya INR 515 crore as part of the five year non-compete agreement. Recently he turned 60 and said i have decided to spend more time in England closer to my children. Diageo following allegations of irregularities on loans given to UB Group companies. His resignation comes at a time when two banks have declared him as a willful defaulter. He has been unable to pay dues to 17 banks amounting to INR 7,000 crore that was lent to Mallya's Kingfisher Airlines.

Here's how much he owes to Indian banks:
State Bank of India: Recovered only INR 155 crore out of INR 1,623 crore.
Punjab National Bank: INR 1,500 crore​
IDBI Bank: INR 800 crore
Bank of India: INR 650 crore
Central Bank of India: INR 410 crore
UCO Bank: INR 320 crore
Corporation Bank: INR 310 crore
State Bank of Mysore: INR 150 crore
Indian Overseas Bank: INR 140 crore
Federal Bank: INR 90 crore
Punjab & Sind Bank: INR 60 crore
Axis Bank: INR 50 crore
Continue reading
Subscribe to: Posts (Atom)