Axis Bank removes penalty on premature closure of new term deposits of more than 2 years

Axis Bank has removed the penalty on premature closure of all new retail term deposits booked on or after December 15, 2020 for tenure of 2 years or...

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Banks have not passed full benefit of low interest rates to borrowers

The Reserve Bank has been aggressively signaling lower rates to revive the economy since the pandemic induced nation-wide lockdown by making the cost...

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Post Office Savings Bank accounts to become interoperable with other banks by April

India Post expects to make the Post Office Savings Bank interoperable with other bank accounts by April and will focus on enhancing digitisation of...

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ICICI Bank launches interoperable banking app

ICICI Bank has launched a new version of its mobile payment app which is interoperable and allows payments and other banking services to customers of...

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RBI increases limit for contactless card transactions to Rs 5,000 from 1st January

The Reserve Bank of India (RBI) announced in its statement

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RTGS to be made available 24X7 soon

The Reserve Bank of India (RBI) today announced that the Real Time Gross Settlement (RTGS) system, used for large value transactions, will be made...

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ICICI Bank introduces ‘Cardless EMI’ using PAN and mobile number

ICICI Bank has launched a fully digital mode of payment called 'Cardless EMI'. The fully digital mode of payment facility allows its pre-approved...

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WhatsApp gets nod for UPI payments by NPCI

The National Payments Corporation of India (NPCI) has given the green signal for WhatsApp to go live on UPI in the multi-bank model. No fee will be...

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AU Small Finance Bank sees customer spending getting back to pre-COVID levels

AU Small Finance Bank said customer spending is getting back to pre-COVID levels and its festive season offer has witnessed 23% rise in per day debit...

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Paper/cheque clearing volumes shrink with the aggressive push for digital payments, shows RBI data

The aggressive push to a digital payments and settlement system has paid rich dividend to the Reserve Bank as the share of paper clearing in retail...

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