Deposits News

The current Post Office MIS interest rate is 6.6 percent per year, compounded monthly. A single account holder can invest up to Rs 4.5 lakh. A joint account holder can invest up to Rs 9 lakh.

As per NASA, the image of the crater in Terra Sabaea is illustrative of the complexity of ejecta deposits forming as a by-product of the impact process that shapes much of the surface of Mars.

Post demonetisation move by the government, deposits in Jan Dhan accounts have soared sharply by around Rs 27,200 crore in just 14 days.

People have withdrawn Rs 1.03 lakh crore of cash over the counter and ATMs between November 10 and 18, the Reserve Bank of India said in a statement issued on Monday.

Any mismatch with income declared by the account holder will be treated as a case of tax evasion and thus attract tax plus a penalty of 200 percent, the government said.

To curb illegal and unauthorised pooling of funds by unscrupulous firms, Reserve Bank on Thursday launched a website, which will help people obtain information about entities allowed to collect deposits.

Bank credit growth continued to remain in double-digits clipping at 11.62 percent year-on-year to Rs 71,72,740 crore for the fortnight ending February 19, according to the Reserve Bank data

Banks have mobilised deposits worth close to Rs 21,000 crore from the accounts opened under the Pradhan Mantri Jan Dhan Yojana, the Finance Ministry said Wednesday.

India`s government is set to overhaul annual targets for public sector lenders this month, ending a focus on size that has long encouraged banks to inflate their loans and deposits at the year-end to hit growth objectives.

State-owned lenders remain dominant players in India's banking system with SBI group alone accounting for about a quarter of the market share both in the credits as well as the deposits arena.

Bandhan Financial Services, a micro finance institution (MFI), will initially focus on taking deposits after transforming itself into Bandhan Bank.

Unbreakable high value fixed deposits will soon earn higher rate of interest with the Reserve Bank of India allowing banks to offer differential rates.

The Reserve Bank of India (RBI) has tightened rules for so-called "shadow banks", raising minimum capital requirements and restricting deposits with a set of changes that it hopes will protect consumers and the market without stifling growth.

In the wake of unearthing of multiple unauthorised deposit raising schemes and scams such as Saradha and PACL, RBI Deputy Governor R Gandhi on Monday said the Reserve Bank is working with the government on redefining as to what constitutes a deposit.

Banks had Rs 5,124 crore in unclaimed deposits lying with them as of December 31, 2013, Parliament was informed Tuesday.

State-run Indian Bank has revised the interest rates on foreign currency non-resident (banking) deposits with immediate effect.