Banks Recall Over 32 Lakh Debit Cards Due To Security Breach More than 32 lakh debit cards of customers have been blocked or recalled by banks to prevent them from falling prey to any financial fraud after a major security breach at a payment services provider that manages ATM network of a private sector bank. … Read More →
Investors have fallen for stocks that till yesterday were considered just an arbitrage play over banks…. !! Shares of non-banking financial companies (NBFC) have been on fire on Dalal Street. In a note tilled What Doesn’t Kill You Makes You Stronger, Amay Hattangadi, managing director of Morgan Stanley Investment Management (MSIM), and Swanand Kelkar, executive … Read More →
NBFCs are doing functions similar to banks. What is difference between banks & NBFCs ? NBFCs are doing functions akin to that of banks, however there are a few differences: (i) a NBFC cannot accept demand deposits (demand deposits are funds deposited at a depository institution that are payable on demand — immediately or within … Read More →
On 17th March Reserve Bank asked banks to keep their branches, which conduct government business, open for full day on March 30 and till 8 pm on March 31 to facilitate the transactions before annual closing of government accounts. RBI said the government has desired that all government transactions with banks must be accounted for … Read More →
The Reserve Bank of India (RBI) has asked banks to pay interest on savings banks account on a quarterly basis or shorter duration, a move which will benefit crores of savings account holders. At present, the interest is credited to savings bank account on a half-yearly basis. The interest rate on savings bank account is … Read More →