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Axis Bank overtook Kotak Mahindra Bank on Thursday to become India's third most valued private lender after a rout in the latter's stock. Kotak Bank's stock opened deep in the red on Thursday a day after RBI restricted the lender from onboarding customers digitally and issuing credit cards, citing repeated failures to fix "serious deficiencies" in its IT system.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/FbvGwIn
Bank holidays on April 26, 2024, for Lok Sabha Election 2024. RBI classifies holidays; online banking services usable. Karnataka High Court declares public holidays for election days. Second phase details for Assam, Bihar included.
RBI restricts Paytm Payments Bank from receiving money post-March 15, 2024. Users must switch from '@paytm' UPI handles to new ones like '@ptsbi' for SBI. Paytm integrates with major banks under NPCI's approval.
Shares of Kotak Mahindra Bank dropped by 10% following RBI's temporary pause on new customer onboarding and credit card issuance. Brokerages lowered target prices as the bank's online customer acquisition is affected.
RBI waived NEFT charges from Jan 1, 2020, benefiting savings account holders. NEFT allows nationwide payments in batches, while RTGS settles large transactions continuously. SBI, HDFC, ICICI, PNB charge NEFT transactions.
