Banking & Financial Services

The government is bent on weakening the RBI and making it pliable to meet its own political needs, said All India Bank Employees' Association General Secretary CH Venkatachalam.

The government and the RBI have been fighting for weeks over how much autonomy the bank should have as the administration of Prime Minister Narendra Modi seeks to reduce curbs on lending and to gain access to the RBI's surplus reserves.

SBI customers - holding one or more bank accounts with the bank - can fill a PPF application form online through the lender's internet banking portal, onlineSBI.com, by providing details such as the branch code and names of nominees, according to the bank.

The proposal is subject to the condition that government shareholding in equity share capital of bank does not fall below 52% at any point of time.

Uday Kotak, the billionaire head of Kotak Mahindra Bank, has been asked by the country's central bank to lower his holding in the bank to 20 per cent by the end of this year, and to 15 per cent by March 31, 2020.

SBI internet banking customers are not required to visit a bank branch to feed their PAN card details into their internet banking profile. State Bank of India provides internet banking facilities to its retail customers through its portal,onlinesbi.com. SBI customer is required to log in to the bank's internet banking portal in order to register the PAN details. PAN is a 10-character alphanumeric identification number assigned to assessees by the Income Tax Department. This number is printed on the PAN card, issued to the assessee.

After raising interest rates twice this year, the RBI will probably keep its repurchase rate unchanged at 6.5 per cent, according to 48 of 52 economists surveyed by Bloomberg.

The move by the central bank was in line with its decision to boost the liquidity in the system by Rs 40,000 crore in December.

In October, LIC announced an open offer for acquiring 26 per cent of equity in IDBI Bank at a price of Rs 61.73 per share, entailing total payout of over Rs 12,602 crore.

In a statement, the AIBEA said the unions in the banking sector were opposed to the merger of three banks.

The deadline for registering State Bank of India (SBI) internet banking with mobile number ends on November 30, 2018 i.e. today. Customers failing to register it will not be able to access the internet banking facilities of SBI from December 1, the lender said on its online portal- onlinesbi.com. "Attention INB (Internet Banking) users, please register your mobile number with us immediately, if not already done, through branch, failing which the internet banking facility may be blocked with effect from 01.12.2018", the lender said.

The NSFR is defined as the amount of available stable funding relative to the amount of required stable funding.

The Rs 42,000 crore capital infusion is part of the Rs 2.11 lakh crore, two-year, front-loaded bank recapitalisation plan announced by the government in October 2017 to support credit growth.

State Bank of India (SBI) internet banking customers can turn on or off, and choose among different types of alerts through its SMS alert service. Among other options, SBI customers can switch on or off SMS alerts that notify the subscriber about occurrence of different events, such as debit card purchase, issuance of cheque book and money deposit in the account, according to the bank.

In February, PNB reported the Rs 14,000-crore fraud on it committed by accused diamantaire Nirav Modi and his uncle Mehul Choksi.