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BANKING: Cabinet clears ordinance in cheque bounce cases …

Cabinet clears ordinance in cheque bounce cases
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The Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Shri Arun Jaitley holding a Quarterly Performance Review Meeting with the Chief Executive Officers (CEOs) of Public Sector Banks and Financial Institutions, in New Delhi on March 11, 2015. 	The Minister of State for Finance, Shri Jayant Sinha is also seen.
The Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Shri Arun Jaitley holding a Quarterly Performance Review Meeting with the Chief Executive Officers (CEOs) of Public Sector Banks and Financial Institutions, in New Delhi on March 11, 2015.
The Minister of State for Finance, Shri Jayant Sinha is also seen.

Cabinet clears ordinance in cheque bounce cases    Business-standard.com
June 10, 2015
An ordinance to help lakhs of persons battling cheque bounce cases far away from their place was today cleared by the Union Cabinet, which will be the 14th ordinance of the Modi government in a little over a year. …

HDFC Bank to stop paper slips, to send detailed SMS   Timesofindia.indiatimes.com
Jun 1, 2015
MUMBAI: The second largest private sector lender HDFC Bank has decided to discontinue issuing slips after cash withdrawals at ATMs and will alert the customer through SMSes. …

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RBI clears decks for ‘tap & pay’   Timesofindia.indiatimes.com
May 15, 2015
MUMBAI: The RBI has cleared the decks for ‘tap & pay’ transactions using NFC technology, even as SBI announced the largest contactless card rollout. The RBI’s decision to allow such transactions for up to Rs 2,000, without any PIN requirement, will pave the way for electronic payments in public transport, highway tolls and food outlets. …

Raj HC bars credit societies from accepting deposits without RBI Licence    Business-standard.com
May 14, 2015
The Rajasthan High Court today prohibited credit cooperative societies in the state from accepting deposits from people without taking licence from the Reserve Bank of India. …

SBI offers personal loans to existing borrowers at housing loan rates  Economictimes.indiatimes.com
Mar 12, 2015
MUMBAI: State Bank of India is offering a bonanza to its existing home loan customers. They can take personal, or top-up, loans at the same rate that they are paying on home loans under a limited-period offer from the nation’s top lender. …

RBI cuts repo rate by 25 bps to 7.5%; keeps CRR unchanged   Economictimes.indiatimes.com
4 Mar, 2015
MUMBAI: Encouraged by softening inflation and fiscal consolidation roadmap by the government, RBI today slashed key policy (repo) rate by 0.25 per cent to 7.5 per cent, the second such surprise rate cut outside regular policy review in less than two months. …

Rs 5,000 overdraft under Pradhan Mantri Jan-Dhan Yojana is priority sector lending: RBI   Economictimes.indiatimes.com
25 Feb, 2015 MUMBAI: Giving a big boost to Pradhan Mantri Jan-Dhan Yojana (PMJDY), the RBI today said bank overdrafts of up to Rs 5,000 in accounts opened under this financial inclusion mission will be treated as priority sector lending. …
More: RBI Circular dated 25.02.2015 – Priority Sector Lending – Targets and Classification – Overdraft in PMJDY accounts

Bank staff get 15% hike, 6 monthly offs   Timesofindia.indiatimes.com
Feb 24, 2015
MUMBAI: Branches of public sector banks, the RBI and insurance companies will be shut alternate Saturdays and will work full time on all other days according to the terms of an agreement between employee unions and the Indian Banks Association. …

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