The Reserve Bank of India (RBI) has decided to waive all charges on fund transfer made through Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems from July 1, 2019. With a view to push digital transactions, it has been decided to do away with the charges levied on these fund…
The Reserve Bank of India (RBI) has decided to extend the RTGS (Real Time Gross Settlement) timings by one and a half hours from 4:30 pm to 6:00 pm. The new RTGS service window for customer transactions will be available to banks from 8 am to 6 pm on a working day and the final…
Based on the recommendations of an internal committee under the current executive director in charge of NBFC supervision, the Reserve Bank of India approved creating a specialized supervisory and regulatory structure for commercial banks, urban cooperative banks and non-banking financial companies (NBFCs). This specialized structure will include consolidating the different supervisory and regulatory activities and…
According to the Bank of Baroda (BOB) officials about the merger of Dena Bank and Vijaya Bank with Bank of Baroda, around 800-900 bank branches have been recognized which needs to be rationalized. “It does not make sense to have branches of Dena and Vijaya at the same location when both have been merged…
As per media reports, the Cabinet has approved the merger of Dena Bank and Vijaya Bank with Bank of Baroda on 2nd January 2019. This merger will be effective from April 1st 2019. Once combined, Bank of Baroda will become second largest public sector bank of the country. The government has announced that there will…