Business

State Bank of India or SBI offers certain accounts where monthly average balance (MAB) rule is not applicable. These accounts do not require customers to maintain any particular minimum average balance. In other words, these bank accounts can be operated

India is expected to receive below average monsoon in June but rains are likely to pick up in August and September as the El Nino weather pattern is likely to fade by then, a senior weather official said on Friday.

India is likely to get good rainfall in August

Domestic stock markets swung between gains and losses on Friday, a day after the Reserve Bank of India (RBI) cut the repo rate to a nearly nine-year low. The S-P BSE Sensex moved in a range of 39,279.47, between 39,279.47 and 39,666.6 in intraday trade. The broader NSE Nifty index regained t

RBI Governor Shaktikanta Das on Saturday said revised guidelines to deal with stressed assets will sustain improvement in credit culture as it provides for additional provisioning, a strong disincentive for delay in starting resolution proceedings.

After the Supreme Court nullified the Reserve Bank''s circular of February 12, 2018 for

The rupee on Friday fell by 18 paise to close at 69.46 against the US currency on strengthening of the greenback in overseas markets and rising crude oil prices. Forex traders said that weakened Asian currencies also added to the pressure on the domestic unit. However, gains in domestic

Retirement fund body EPFO or Employees' Provident Fund Organisation allows subscribers to withdraw money from their Employees' Provident Fund (EPF) corpus under certain conditions. In EPF, a mandatory contribution is deducted from the salary of an employee and contributed

India Post, under the Department of Post (DOP), provides a variety of banking services, besides delivering mails. It offers a regular savings account, as part of its small savings schemes portfolio. India Post pays interest at the rate of 4 per cent per annum on

Gold prices in the country flipped into discounts this week as a rally in local prices dampened demand, while premiums in other major Asian hubs declined as a price surge prompted investors to sell back bullion.

Global benchmark spot gold was headed for its best

Domestic stock markets recovered early losses on Friday amid cautious note, a day after the Reserve Bank of India announced a cut in the repo rate while adopting an "accommodative" stance. The S-P BSE Sensex index jumped as much as 387.16 points from the day's low in morning deals to touch 39,666.63 on the upside, and the NSE Nifty climbed

After the demonetisation of Rs 500 and Rs 1000 notes in 2016 pushed digital payments, Aadhaar-enabled electronic know your customer (eKYC) resulted in an exponential growth of such payments in the country, according to a new report by the Reserve Bank of India.

Transactions in which both the payer and the payee use digital modes to send

The Reserve bank of India (RBI) issued a revised circular for resolution of stressed assets after the Supreme Court in April declared its previous guidelines issued on February 12, 2018 as ultra vires. The earlier circular mandated that the resolution

Domestic stock markets started Friday's session on a weak note, a day after the Reserve Bank of India announced a cut in the repo rate while adopting an "accommodative" stance. The S-P BSE Sensex index fell as much as 250.25 points in early trade to 39,279.47, and the NSE Nifty moved to 11,769.50, down 74.25 points from the previous close. A

State Bank of India or SBI offers a wide range of deposit schemes in the personal banking segment. Fixed deposit (FD) scheme, one of such product offered by bank, provides assured returns. In a SBI FD account, depositor can park lump sum amount and also avail features like choice of

Reliance Industries is seeking three liquefied natural gas (LNG) cargoes for delivery, with one a month in July, September and October, two industry sources said on Friday.

Offers are due on June 7, one of the sources said.

Last week the company sought one cargo for August 10-15 delivery, which a third source said was awarded at

The rupee logged mild gains against the US dollar in early trade on Friday, a day after the Reserve Bank cut the repo rate by 25 basis points. To boost the sagging economy, the RBI on Thursday lowered its benchmark lending rate to a nearly nine-year low of 5.75 per cent and changed its monetary policy stance to "accommodative" from

Air India is offering discounts on select flight tickets in a limited-period offer. Bookings under the sale, which is valid for travel till September 30, 2019, can be made till June 15, according to the airline's official website - airindia.in. The

Gold prices on Friday declined by Rs 70 to Rs 33,420 per 10 gram in the national capital on reduced demand from jewellers amid a weak trend overseas, reported Press Trust of India (PTI) quoting the All India Sarafa Association. Gold rates dipped on fall in demand from local jewellers amid a

Reserve Bank of India (RBI) decided to do away with charges levied on RTGS (real-time gross settlement) and NEFT (national electronic funds transfer) transactions. "Banks will be required, in turn, to pass these benefits to their customers. Instructions

The State Bank of India (SBI) on Friday said it would offer repo rate-linked home loans from July 1, 2019.

It also announced the reduce interest rate on cash credit account and over draft customers with limits of over Rs 1 lakh, from July. The current repo-linked lending Arate (RLLR) for cash credit and overdraft customers is 8 per cent.

"The

Looking to buy gold Government-run Sovereign Gold Bond scheme opened for subscription earlier this month. Sovereign Gold Bond or SGB is a certificate scheme in which the Reserve Bank of India issues bonds on behalf of Government of India. The gold

State Bank of India (SBI) said on Thursday it was "very closely" monitoring its exposure to the country's shadow banks, amid concerns of distress in the sector.

A series of defaults at lender Infrastructure Leasing and Financial Service Ltd last year raised concerns about the country's shadow banking industry, or so-called non-banking

IRCTC or Indian Railway Catering and Tourism Corporation, the online ticketing arm of the Indian Railways, allows senior citizens, journalists and persons with disabilities to book concessional tickets through its website - irctc.co.in. Other eligible individuals can avail the

State Bank of India or SBI offers a variety of savings instruments from fixed deposit (FD) accounts, to mutual funds (MFs). One such product offered by SBI is the reinvestment plan, which works like a fixed deposit (FD). However, in case of a reinvestment plan, interest is given at

Private sector lender HDFC Bank offers fixed deposit maturities ranging from seven days to 10 years. HDFC Bank offers interest rates to the tune of 3.50-7.40 per cent to the general public on fixed deposit (FD) up to Rs. 2 crore, according to its website,

The Reserve Bank of India (RBI) on Friday fined Kotak Mahindra Bank Rs 2 crore ($288,525) for not furnishing details about the shareholdings of its majority stakeholders and its plans for complying with stake dilution norms.

The RBI said it decided to impose a

IRCTC Tourism, the tourism arm of Indian Railway Catering and Tourism Corporation, is offering a five nights and six days tour package to Rajasthan from Visakhapatnam at a starting tariff of Rs 29,940 per head. The all-inclusive tour package covers destinations

The Reserve Bank of India (RBI) on Thursday said it was considering 'on-tap' licensing facility for small finance banks and proposed to issue the draft guidelines by the end of August.

The 'on-tap' facility allows the RBI to accept applications and

Despite a large growth in digital payments after demonetisation of Rs 500 and Rs 1,000 notes in 2016, cash is "deeply embedded" in the payment system in India, according to a new report from the Reserve Bank of India.

At 11.59 per cent of Gross Domestic Product (GDP) India had a

The S-P BSE Sensex and NSE Nifty 50 Indexes ended marginally higher after halting their two-day losing streak. For most part of the day, benchmarks swung between negative and positive territory and the Sensex fluctuated at least 17 times between gains and losses. Buying interest in HDFC Bank, HDFC, ICICI Bank, IndusInd Bank, State Bank of

The rupee recouped most of its early losses and closed marginally lower at 69.28 to the dollar after the Reserve Bank in a widely expected move cut key interest rates by 0.25 percentage point. To boost the sagging economy, the RBI on Thursday lowered its benchmark lending rate to