About 60 per cent of new branches would be coming up in semi-urban and rural areas and the remaining in urban areas Last fiscal, it had opened 506 branches

It will serve as a wider platform to implement financial inclusion programmes.

About 50 companies, including some from abroad, are keen to partner with postal department for the payments bank, like World Bank , Citi from America, Barclay’s from England

The Reserve Bank of India has stated that entities from Pakistan, China, Bangladesh, Sri Lanka, Afghanistan, Iran and Hong Kong or Macau will require its prior approval to establish branch office or project office or liaison office in India.

The Reserve Bank will shortly issue banknotes of Rs 1000 denominations with inset letter ‘R’ in both the number panels.

A Debt Recovery Tribunal has ordered JPMorganChase to ensure that defaulter Vijay Mallya doesn’t get access to the $40 million that Diageo Plc. deposited in his account in the bank’s New York branch as part of a $75 million deal to make him resign from Untied Spirits Ltd chairmanship.

Singaporean lender DBS Bank is creating its biggest technology hub outside of headquarters, in Hyderabad where the company plans to have over 1,500 headcount.

Below 1 crore to DCBS and above Rs 1 crore to Central Fraud Monitoring Cell (CFMC)

After the Vijay Malaya case PNB has started moving the passport authorities to ensure that ‘wilful defaulters’ do not leave the country without the bank’s approval.

RBI has designated 29 banks where people can pay their I-T advances besides accepting the dues at its own office.

To tackle bad debts in the banking sector, finance minster Arun Jaitley allowed 100% foreign direct investment (FDI) in asset reconstruction companies (ARC) and foreign portfolio investors (FPI) can invest into security receipts.