by OverviewFX | Aug 29, 2024 | Banking & Finance
Bank staff unions are set to raise the demand for the restoration of the Old Pension Scheme (OPS) in their upcoming meeting with the Indian Banks’ Association (IBA). This move comes shortly after the central government announced the Unified Pension Scheme (UPS) for...
by OverviewFX | Aug 29, 2024 | Banking & Finance
The Yes Bank has been penalised by Goods and Services Tax (GST) department, Maharashtra raising demand for disallowance of input tax credit (ITC) along with interest and levy of a penalty of Rs. 24,92,978/-. The penalty is in accordance with Section 73 of the Central...
by OverviewFX | Aug 29, 2024 | Banking & Finance
New Delhi [India], August 28 (ANI): The Pradhan Mantri Jan Dhan Yojana (PMJDY) which completed ten years of its implementation on Wednesday has had a profound impact on every corner of the country.The scheme launched in 2014, has proven to be the foundation stone in...
by OverviewFX | Aug 29, 2024 | Banking & Finance
On August 19, 2024, the All India Bank Employees Association (AIBEA) had called for a nationwide strike today, August 28, which could impact banking services and transactions nationwide. CH Venkatchalam, General Secretary of AIBEA, has tweeted about the same from his...
by OverviewFX | Aug 29, 2024 | Banking & Finance
Credit growth is trending down and continues to converge with deposit growth on an annual basis.Credit offtake increased by 5.8% compared to December 2023, to reach Rs. 168.8 lakh crore as of August 9, 2024, while deposits rose at 6.2% compared to December 2023 and...
by OverviewFX | Aug 29, 2024 | Banking & Finance
Canara Bank’s successful issuance of Basel-III compliant tier-I bonds marks a significant moment for the bond market, potentially paving the way for other banks to follow suit.The bank raised Rs 3000 crore through these bonds at a coupon rate of 8.27%,...
