Banks in India News

Banks will also be closed in various states on March 1, 2022, to commemorate Mahashivratri. Bank holidays are implemented in accordance with a schedule published by the Reserve Bank of India (RBI). The RBI categorises holidays as either national or regional.

The bank employees across the country will observe a nation-wide strike for two days starting May 30 in order to protest against low hike offered by the management body. Indian Banks' Association (IBA) offered the employees 'a meagre' two per cent increment. This led them to raise their voice demanding the government's intervention in wage revision.

NCR`s manufacturing facility in Chennai has manufactured 200,000 ATMs since 2004. The company exports 70 percent of the machines manufactured in Chennai facility.

Jaitley said stressed bank assets have become a "concern" for the economy. Bad loans have crimped the ability of Indian lenders to offer new credit.

The Rajya Sabha on Thursday passed the Banking Regulation (Amendment) Bill, 2017, which empowers the Reserve Bank of India (RBI) to resolve stressed assets clogging the banking system.

RBI has asked banks to follow the instructions of government organisation CERT-In to prevent the attack by ransomware, 'WannaCry', which has impacted various IT networks in over 150 countries.

The government's all out war against NPAs will help in cleaning balancesheets of state- owned banks and expedite fund raising via markets to meet the global Basel III capital adequacy norms, an official said.

Services like cash deposits and withdrawal from branches and cheque clearances have been hit hard by the strike, which has been called under the aegis of the United Forum of Bank Unions (UFBU).

Services like cash deposits and withdrawal from branches and cheque clearances have been hit hard by the strike, which has been called under the aegis of the United Forum of Bank Unions (UFBU).

Operations at public sector banks may be hit on Tuesday as most unions under the aegis of United Forum of Bank Unions (UFBU) have threatened to go on strike to press for various demands, including accountability of top executives in view of mounting bad loans in the banking sector.  

Weak asset quality will continue to plague credit profile of banks, with their profitability remaining under pressure till the next fiscal, says a report.

Days after Prime Minister Narendra Modi warned those who indulged in malpractices during the 50-day demonetisation drive, the Finance Ministry has asked public sector banks to submit a report on the involvement of officials illegally changing currency notes.

RBI Governor Urjit Patel on Thursday said the demonetisation exercise will have "far reaching changes" towards a transformative effect on the economy going forward, despite some short-term disruptions and "public hardship".

Banks have received Rs 12.44 lakh crore of old, high-value currency notes that were banneed by the government last month, RBI said on Tuesday.  

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India's demonetisation drive is likely to cause short-term pain for the economy, but banks are expected to benefit from the move in the long run.

Services at around 80,000 bank branches in the country were hit Friday as employees of public sector banks went on a one-day strike to protest proposed merger of SBI associates with the parent and other issues.

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Customers won't be able to conduct bank transactions at branches for 6 days in a row from Tuesday as all banks will be closed for business, starting March 22 (Tuesday) in many parts of the country.