Union Cabinet clears merger of Dena Bank, Vijaya Bank with BoB


The Cabinet Committee on Economic Affairs (CCEA) had recently approved the merger of state-run Vijaya Bank, Bank of Baroda and Dena Bank. This marks the first-ever three-way merger in the country's banking sector.

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No of ATMs declines by 1,000 to 2.07 lakh in FY18: RBI Report


The number of ATMs has declined marginally to 2.07 lakh in FY18 from 2.08 lakh in FY17, primarily due to branch rationalization by a few public sector banks, the Reserve Bank said recently in its annual report.

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Maharashtra tops in the home loans; accounts for 24% of national sales


Maharashtra accounts for a fourth of the overall home loans sold by all types of lenders, with the financial capital, the adjoining city of Thane and Pune being the biggest pockets of demand, according to a report.

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Bank credit grows by 15.07%, deposits by 9.66%


Bank credit rose at a healthy 15.07 percent to Rs 92.03 trillion in the fortnight to December 7, while deposits grew 9.66 percent to Rs 118.84 trillion, according to the latest RBI data.

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2018 October fest for digital payments; card deals spike


Digital payments saw a spike in October in both the number of card transactions and the amount paid, attributed by industry executives largely to festive season sales across e-commerce websites and retail outlets.

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Know how will your home loans change from April next year


RBI has mandated banks to use external benchmarks (e.g. treasury bill rates or repo rates) to determine interest rates on home loans from April 2019. Banks currently use an internal benchmark (bank’s own marginal cost of raising funds) to decide home loan rates.

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Digital transaction failed? Now you can complain to the ombudsman


With digital transactions gaining at a rapid pace over the past year, multiple issues such as failed transactions or funds sent to the wrong address have been cropping up as well.

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Banks are to increase deposit rates as credit grows fast


Domestic savers could get higher interest incomes as Indian banks must stump up more cash for garnering fresh deposits, which are now being outpaced by credit advances to willing borrowers in an expanding economy.

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SBI increases fixed deposit rates by up to 10 bps


The country's largest lender State Bank of India has increased the fixed deposit rates by up to 10 basis points or 0.10 per cent to 6.80 per cent on select maturities.

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Bank credit grows by 14.88%, deposits by 9.13%


Bank credit rose 14.88 percent to Rs 91.11 lakh crore in the fortnight ended November 9, while deposits grew by 9.13 percent to Rs 118.25 lakh crore, according to the RBI data.

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HDFC disburses over Rs 1,100 cr under PMAY's CLSS


Housing finance firm HDFC said recently, it has disbursed over Rs 1,100 crore subsidy to over 51,000 customers under the government's flagship scheme Pradhan Mantri Awas Yojana (PMAY).

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