S.K. Kakkar, Senior Advisor, HR and IR, IBA, acknowledged receipt of UFBU's letter to the Chairman, IBA, informing him of the decision of member unions - AIBEA, AIBOC, NCBE,AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO - to go on strike. The IBA has gone through the demands raised by the UFBU but observed that most of the issues are at the macro-level where the government has to take a decision. The IBA can facilitate taking up these issues in the appropriate forum. In addition, there are other issues which are under bipartite discussions, for which talks have been initiated. The IBA, therefore, requested the unions to reconsider their decision and refrain from undertaking the agitation programme. It extended an invitation to the UFBU to its office this afternoon along with a represen- tative each from the officers' association and workmen's union to discuss matters "with an open mind."
-Economic Times
The Finance Ministry is expected to initiate the process of consolidation of PSBs once the first quarter results of the current fiscal have been announced, a senior official has said.
-Economic Times
Bank of India swung into the black by registering a standalone net profit of ₹ 87.71 crore for the first quarter ended June as bad loans were brought down year-on-year. The bank had reported a net loss of ₹ 741.36 crore in the April-June quarter of the previous fiscal due to bad assets and higher provisioning to cover it.
-Business Line
Union Bank of India today said it will raise ₹ 2,000 crore through various instruments, including rights issue and private placement. The Bank's committee of directors at its meeting today approved the capital raising issue.
-Economic Times
ICICI Bank, launched instant credit cards enabling its SB account customers to get a credit card instantly, in a completely digital and paperless manner. The bank has opened up this offering to a few lakh of pre-qualified customers who can apply for the card online and generate card details and start shopping online instantly.
-Economic Times
IDFC Bank has partnered with digital payments co Zeta, to launch ‘IDFC Bank Benefits’ - a payment solution for corporates that digitises employee spends and claims, making the process simple, real-time and paperless.
-Economic Times
Kotak Mahindra Bank said it will offer debit card at a special price of ₹ 99 for the first year for customers who will open account under its zero balance account scheme till Sep 15. The usual annual fee for debit card procured by 811 account holders (zero balance) is ₹ 299.
-Economic Times
Bank of India said it plans to shore up ₹ 8000 crore capital to boost growth while declaring net profit of ₹ 87.7 crore in June quarter 2017 against ₹ 741 crore loss posted a year ago, said bank’s M D, Dinabandhu Mohapatra, said.
-Economic Times
City Union Bank has reported a net profit of ₹ 140.32 crore during the quarter ended June 30, 2017, as compared to ₹ 123.52 crore, a year ago, an increase of 14%.
-Business Standard
More Indians are now using a mobile banking app or going online rather than just talking to a banking adviser on phone to address complex issues, according to the survey, 'Customer Experience in Banking', by global tech co Avaya.
-Economic Times
Mobile wallets are still not the preferred mode for online/mobile payments. Urban internet users prefer net banking, debit cards, credit cards and even cash on delivery to mobile wallets, according to an ET-RICS Retail Banking report.
-Economic Times
Though demonetisation had some positives, former RBI Governor Bimal Jalan says he would not have approved it had he been at the helm of the country's central bank. There is need to tackle the problem of black money at the root and see whether taxes are high, he feels.
-Economic Times
India's agricultural exports have declined to $33.87 billion in 2016-17 from $43.23 billion in 2013-14, Parliament was informed today. The primary reasons for decline in export of agricultural commodities are low commodity prices in the international market, "which has made our exports uncompetitive," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.
-Economic Times
Citizens of 80 countries including India can now enter Qatar visa-free. The countries include India, the UK, the US, Canada, South Africa, Seychelles, Australia and New Zealand. "Citizens of these 80 countries wishing to visit Qatar will not need to apply or pay for a visa," Qatari officials announced in a release said.
-Economic Times
The Kerala Government today said it would ask the Centre to ban the online ‘BlueWhale’ game in the country, citing reports of a large number of children getting addicted to the game that was allegedly abetting their suicide worldwide. Chief Minister Pinarayi Vijayan said the state police had already issued necessary alerts to make parents vigilant about the game and to ensure that children do not get addicted.
-Business Line
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