Page 3 - Bank Accounts

60% people think their banks are 'bureaucratic, inefficient': Report

In a second survey, of the 11,357 participants, 41 per cent families have 1 or more bank accounts that they are unable to access online

PMJDY account to touch 500-million mark; about 55% beneficiaries are women

As on July 19, the number of total account holders under the PMJDY has reached 495.6 million, of which 275.6 crore are women

What is the average balance in a bank account in your state? Check it here

Using RBI data, we found out the average balance in a savings, current or a term deposit account across states in India. Read more to find out

Digital push minus customers' safety

The bank is apparently working on a clean-up, but that is not enough. The regulator is also investigating the case, but what will come of it?

SBI starts 34 transaction banking solutions hubs, 21 district centres

SBI raised Rs 1,000 cr in current account deposits at centres under revamped systems

Banks seek clarification from govt before TCS on credit cards kicks in

Banks are particularly concerned about use of several cards and bank accounts to make a simple remittance

Illegal freezing of bank accounts

Unilaterally freezing an account has a series of consequences on standing instructions, for loan repayments, credit-card payments

Bank of Maharashtra plans to recover 5% from written-off accounts in FY24

The Pune-based lender had recovered Rs 943 crore from written-off accounts in FY23, up from Rs 642 crore in FY22, according to the document filed Qualified Institutional Placement (QIP)

Punjab transfers Rs 502.93 crore into bank accounts of wheat growers

The Punjab govt transferred Rs 502.93 cr directly into bank accounts of 19,642 farmers in a single day as the amount of minimum support price at the rate of Rs 2,125 per quintal for procuring wheat

Enforcement Directorate freezes over Rs 120cr in illegal forex trading case

The ED said that a total of 180 accounts were found involved in the layering of funds received from investors in the name of forex trading on TP Global FX platform

Over Rs 12 crore swindled from Kozhikode Corporation accounts in PNB

Over Rs 12 crore have been swindled from several accounts of the Kozhikode Corporation in a Punjab National Bank here and the prime accused -- a former senior manager of the bank -- is still at large. The fraud came to light last month when the Corporation found huge sums of money missing from its various accounts in the PNB branch, an officer of Crime Branch wing of the police said. An FIR was immediately lodged and in view of the amount involved, of Rs 12.68 crore, the probe was transferred to the Crime Branch, the officer said. Initially, the Corporation believed that the swindled amount was over Rs 15 crore, but subsequently, its audits revealed that Rs 12.68 crore was missing from its accounts in the bank. Besides the Corporation, around Rs 18 lakh was also stolen, allegedly by the former bank manager, from the account of a private individual, the officer said. He said that their investigation has revealed that most of the money -- around Rs 10 crore -- was invested in the s

Fraudsters using villagers' data to open accounts for cyber crimes

Bank account holders need to be careful while sharing their personal details with unknown persons as it has been found that fraudsters open fake accounts in the name of villagers and tribals

Is DBT the solution for agri subsidy transfers? There is no direct answer

In India, farmers receive subsidised supply of inputs as agriculture subsidies and the difference between the actual cost of supplying and the price paid by the farmers is reimbursed to the suppliers

RBI permits banks to open 12 special vostro accounts for trade in rupees

So far, not a single overseas trade transaction directly involving the rupee has taken place

Deposit rates may rise 105 bps due to 190 bps repo rate hike: SBI report

CASA occupies a 45% share in overall bank deposits; it is FDs, which make the remaining 55%, which will need the rate adjustment

Rupee trade: Understanding difference between Nostro and Vostro accounts

The RBI has allowed two Russian banks, Sberbank and JSC VTB, to open Vostro accounts for rupee trade. Read more to find out what a Vostro account is and how it is different from a Nostro account

How to check your bank balance using Aadhaar card: A step-by-step guide

Aadhaar is a 12-digit unique identity number provided by the UIDAI to the residents of India after a certain verification process

HC directs Vivo to give Rs 950-cr bank guarantee to operate bank accounts

The phone manufacturer had said the account freeze would hamper its ability to pay for its liabilities, such as taxes and employee salaries

Delhi HC asks ED to consider Vivo's representation on freeing bank accs

ED's money-laundering probe into Vivo revealed the company, to avoid paying taxes in India, remitted about Rs 62,476 crore of its turnover to China between 2017 and 2021

Crores of rupees go 'missing' from bank accounts; Andhra govt clarifies

The state government said the DA arrears amount was 'erroneously' credited into the GPF accounts of the employees 'due to a technical glitch'