County Banks Financial News

Finance Minister Nirmala Sitharaman chaired a meeting to review performances of Public Sector Banks in Delhi on Monday. The meeting was also attended by Dr Vivek Joshi, Secretary, M Nagaraju, Secretary-Designate, Department of Financial Services, Heads of Public Sector Banks (PSBs) and senior officials of Department of Financial Services (DFS). Various financial parameters like Deposit Mobilisation, Digital Payments and Cyber Security, Implementation of new credit products/ schemes and Access to Credit under Financial Inclusion were discussed in detail. During the meeting it was noted that during FY24, the PSBs performed well across all financial parameters as evidenced by improved asset quality with Net NPAs (NNPAs) declining to 0.76 per cent, sound capital adequacy of the banks at 15.55 per cent, Net Interest Margin (NIM) of the banks at 3.22 per cent, and highest ever net aggregate profit of Rs. 1.45 lakh crore with the dividend of Rs 27,830 crore to the shareholders. Improvements over various parameters have also enhanced the ability of PSBs to raise capital from the markets.

August 2024 bank holidays: Banks are closed for 13 days in August 2024; Check state-wise bank holiday list The central bank designates certain holidays under the Negotiable Instruments Act, Real-Time Gross Settlement (RTGS) holidays, and Banks' Closing of Accounts. The Government of India has declared only three national holidays in 2024: Republic Day (26 January), Independence Day (15 August), and Gandhi Jayanti (2 October).

Veronika Rinecker is based in Germany, studied international journalism and media management. She specializes in politics and regulation, energy, blockchain, and fintech. Since 2017, she has been...

CRISIL Ratings reaffirmed its ‘CRISIL AAA/Stable’ rating on the corporate credit facility of DBS Bank India Ltd (DBIL). The rating on the certificate of deposits programme was also reaffirmed at ‘CRISIL A1+’.Recognised for its global leadership, DBS has been named “World’s Best Bank" by Global Finance, “World’s Best Bank" by Euromoney, and “Global Bank of the Year" by The Banker.

Much of the world faced online disarray Friday as a widespread technology outage affected companies and services across industries — grounding flights, knocking banks and hospital systems offline and media outlets off air

Banks are in a fix over the latest regulation from the Telecom Regulatory Authority of India (Trai) that mandates digital consent for sending commercial communication. Lenders have reached out to the government, seeking clarity on whether consent is needed even for sharing transaction details, a practice currently followed as per Reserve Bank of India (RBI) guidelines, people familiar with the development told ET.

The Central Bank of The Bahamas, which launched world’s first digital fiat currency in 2020, is mulling to mandate banks to support its central bank digital currency (CBDC) – “Sand Dollar.”

There may be relief for the thousands of Americans whose savings have been locked in frozen fintech accounts for the past two months.

Overseas Indians parked $ one billion in various NRI deposit schemes in April reflecting a strong faith in India's growth story because these deposits witnessed outflows of $150 million in the same period a year ago. Outstanding non-resident Indian (NRI)deposits touched $ 153 billion as of end April on account of the $1.08 billion, the latest data released by the Reserve Bank indicated. Three schemes under which there are inflows include foreign currency non-resident (Banks) or FCNR(B) where the foreign exchange risk is borne by the deposit accepting bank, non resident external rupee account or NRE(RA) where the currency risk is borne by the depositor. While the former is attractive when the rupee is depreciating against the dollar, the latter is attractive when the rupee is appreciating.

EBAday has provided this to the Finextra and EBA community, year on year, for 18 years and will again in Lisbon at the CCL from 18-19 June 2024, leading the conversation on orchestrating the dialogue on payments and the advantages of collaboration.

Memorial Day 2024 in USA falls on Monday, May 27. Memorial Day, which used to be observed every May 30 to honor America's martyred soldiers, became a federal holiday in 1971. Now, Memorial Day is observed on the last Monday in the month of May.

Banks will be closed in Orissa and Tripura on the occasion of Nazrul Jayanti on May 25. Banks in India are closed on Sundays, second, fourth Saturday’s of the month, as per the Reserve Bank of India's (RBI) regulations. Banks are open on the first and third Saturdays of every month.

Canada has reached “a critical turning point” as the high cost of living and housing in this country push more people below the poverty line, says a report out today from Food Banks Canada.

Alternative Banking Options: Despite the closures, customers can continue to manage their finances using mobile and net banking services. These platforms offer a range of financial services that are accessible even on bank holidays. The Reserve Bank of India (RBI) classifies bank holidays under three categories: Negotiable Instruments Act Holiday, Real Time Gross Settlement Holiday, and bank account closures.

Wells Fargo, the third largest bank in the United States, has invested in one of the country’s new Bitcoin ETF products.

Rabindra Jayanti, the birthday of Rabindranath Tagore, a prominent Bengali poet, writer, and philosopher. This day is primarily celebrated in the Indian state of West Bengal and Bangladesh.

Bank holiday on May 1: May 1 is celebrated as Maharashtra Day in honour of the formation of Maharashtra in India. It marks the anniversary of the day in 1960 when the state was officially formed after reorganising states on linguistic lines. May 1st is also observed as Labour Day, a day to honour the contributions of workers and the labour movement.

Edited excerpts: Indian investors predominantly stick to a market capitalization-based investment approach; a bulk of it focussed on large, mid, or small-cap stocks. However, the concept of investing in various styles or themes hasn't gained much traction yet. Themes have demonstrated long-term growth potential in India.

Bank Holidays in May 2024: Bank customers will have to plan around at least 10 non-working days at their banks this month, on account of various religious holidays and weekend leaves. Notably, all national banks, including the State Bank of India (SBI), have at least 10 days of non-working days in May 2024, including the second and fourth Saturdays and Sundays off. The full list is below.

Lok Sabha elections will be held tomorrow in several states. In total, 102 Lok Sabha seats across 21 states and Union territories will go to the polls in the first phase on April 19. Polling will be held in all seats of Tamil Nadu (39), Uttarakhand (5), Arunachal Pradesh (2), Meghalaya (2), Andaman and Nicobar Islands (1), Mizoram (1), Nagaland (1), Puducherry (1), Sikkim (1), and Lakshadweep (1). Besides, there will be voting in 12 seats in Rajasthan, 8 in Uttar Pradesh, 6 in Madhya Pradesh, 5 seats each in Assam and Maharashtra, 4 in Bihar, 3 in West Bengal, 2 in Manipur, and one seat each in Tripura, Jammu and Kashmir, and Chhattisgarh. In 2019, the UPA had won 45 of these 102 seats, and the NDA 41. Six of these seats have been redrawn as part of the delimitation exercise.

Lok Sabha General Elections are set to occur in seven phases, beginning on April 19. A voter ID card not only plays a crucial role in the electoral process but also acts as a significant official document for confirming your identity, place of residence, date of birth, and other details. Bank holiday for Lok Sabha Election 2024:Banks in these cities will be closed on April 19 for phase 1 of general elections Voting is a fundamental right in every democratic society and it’s a responsibility of every citizen to cast his vote. Voter ID is a very important document as it verifies the identity and details of the holder.