NEFT money transfer to be free: RBI move to make digital payments cheaper for these accounts

The central bank also said that the volume of transactions through Unified Payments Interface (UPI) witnessed a year-on-year (y-o-y) growth of 263% to 874 crore in September.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2CuelhK

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Q2 results: Lakshmi Vilas Bank net loss widens

Lakshmi Vilas Bank on Saturday reported a net loss at Rs 357.17 crore for the quarter ending September 30, 2019. The Tamil Nadu-based bank had clock

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Indian consumers warm up to digital payments

Digital payment companies invest strongly in brand building and are overt in their efforts to deliver an engaging customer experience

from Business Line - Money & Banking https://ift.tt/2CukKJP

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IDBI Bank reports its 12th successive quarterly loss

IDBI Bank on Friday reported its 12th successive quarterly loss of Rs 3,458 crore for the quarter ended September 2019, marginally lower than the loss of Rs 3,602 crore in the corresponding quarter of the previous year, and a loss of Rs 3,800 crore in the preceding quarter ended June 2019.

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Govt may stop co-ops from putting ‘bank’ in name

The government may stop urban co-operative banks (UCBs), registered under the Multi-state Co-operative Societies Act, from calling themselves banks as part of a revamp exercise for these entities that have failed to convert themselves into small finance banks and come under the Reserve Bank of India’s regulatory regime.

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