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IBC seminal reform and would change feudalism in promoters
The resistance to reforms in democracy, comes from a vocal minority, who have access to corridors of power.
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Your streaming subscription payments could fail
The earlier deadline to integrate was April 1, but now it’s October 1
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PNB's stake in NARCL to be slashed to 9% by December 2021
Public sector banks and financial institutions will own 51% stake, while private sector lenders will hold 49% stake in NARCL
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Widespread disruption in payments feared as new RBI norms kick in today
Around 50-60% of recurring transactions may fail as automatic clearance has come to an end.
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Cheque books of these 3 banks to become invalid from October
Allahabad Bank was merged with Indian Bank while Oriental Bank of Commerce and United Bank of India have been amalgamated into Punjab National Bank
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RBI lifts lending curbs on IOB after six years
IOB's net NPA ratio stood at 3.58%, and was lower by 186 basis points as compared to the same period last year
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HDFC Bank records 4 lakh new credit card users
The bank will increase its pace on ramping up its credit card acquisition and will look to regain the lost market soon
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Suryoday Bank to shut down ATMs from October 1
To ensure that customers are not affected by the move, it is considering increasing the number of free cash withdrawals available to them.
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Bank privatisation process to kick start with IDBI sale
Two other PSBs, as announced by the government in the union budget will also be privatised under the framework
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Many districts lack banking presence: Nirmala Sitharaman
FM said that the recapitalisation requirements will go down, as the banks books are much cleaner now and would help the government
