Banking & Financial Services

The post office savings account, post office recurring deposit (RD) account, post office time deposit (TD) account and post office monthly income scheme (MIS) account offers an interest rate between 4 per cent and 7.4 per cent.

SBI (State Bank of India)'s quick transfer service supports remittance up to Rs 25,000 per day subject to a transaction limit of Rs 10,000 without the requirement of registration of beneficiary. This service, called "quick transfer", is available through SBI's internet banking portal.

State Bank of India (SBI) allows unlimited free transactions at ATMs of other banks to customers maintaining an MAB of more than Rs 1 lakh. Private sector peers ICICI Bank and HDFC Bank also allow their customers to make free transactions at ATMs every month under certain conditions.

The capital is part of a total Rs 2.11 trillion rupee package that was announced last year.

Insurance regulator Irdai has given its approval for the stake purchase stipulating that the interests of LIC policyholders are to be protected and reduction of LIC's stake in IDBI Bank over a period of time.

Most banks today offer a return ranging from 6 per cent to 7 per cent on a bank fixed deposit or bank FD up to Rs 1 crore for a term of one year. Check out latest interest rates on fixed deposits offered by major commercial banks.

The NPAs in the Indian banking system have reached a staggering level of Rs 9 lakh crore, while the bad loans of PSBs add up to nearly Rs 8 lakh crore

State Bank of India (SBI), Bank of Baroda, ICICI Bank and Canara Bank charge a fee ranging from Rs 3 to Rs 15 per transaction from their customers for making a money transfer of Rs 1 lakh-Rs 2 lakh through NEFT.

Most leading banks today, from public sector State Bank of India (SBI) to private sector peers HDFC Bank and ICICI Bank, offer an interest rate ranging from 6.6 per cent to 7.35 per cent for a tenure of one year, according to an analysis of interest rates displayed on their websites.

State Bank of India (SBI), Bank of Baroda, ICICI Bank and Canara Bank, for example, charge a fee ranging from Rs 3 to Rs 15 per transaction from their customers for making a money transfer of Rs 1 lakh-Rs 2 lakh through NEFT.

LIC has been looking to enter the banking space by acquiring a majority stake in IDBI Bank as the deal is expected to provide business synergies despite the lender's stressed balance sheet.

Among the several types of debit cards offered by banks today, some debit cards are issued free of cost while others attract certain charges. Top banks such as State Bank of India (SBI), ICICI Bank and HDFC Bank levy charges in the range of Rs 200 to Rs 300 plus applicable GST towards reissuance of debit card.

The six-member monetary policy committee is slated to begin its three-day meet on rate review from July 30 and announce its resolution on August 1.

Banks such as SBI or State Bank of India and ICICI Bank, and even the post office, which offers several types of savings schemes and remittance services, levy a fee ranging from Rs 5 to Rs 20 per transaction (excluding GST) as ATM charges for transactions over and above the free monthly caps.

Called Post Office Savings Account, the account can be opened by paying a minimum sum of Rs 20 and comes with an ATM facility. India Post offers an interest rate of 4 per cent on the balance in the savings account.