Page 2 - Bank Accounts

Ensure smooth transfer of assets

To ensure that the nominee becomes the account's beneficial owner in the absence of a Will would require laws to be changed

Crores of rupees deposited in bank accounts of two boys in Bihar

Both the children are native of Pastia village in Bagahura Panchayat with bank accounts in Uttar Bihar Gramin Bank

Need to ensure orderly growth of account aggregator ecosystem: RBI Dy Guv

The account aggregator ecosystem in the country is in a nascent stage and there is a need for its orderly growth, Reserve Bank of India's deputy governor M Rajeshwar Rao said on Thursday.

Beyond bank accounts

Protect investor confidence to increase financial inclusion

Statutory nominations can reduce disputes

The life insurance kind of 'statutory nomination', which confers final ownership on the nominee, is the need of the hour for all assets

SBI collects Rs 300 cr from zero balance accounts in 5 years: Study

Several banks, including State Bank of India (SBI), have been imposing excessive charges on certain services provided

E-wallets are similar to bank accounts, but more convenient: Experts

Will help those who can't ensure minimum balance

Rs 1.15 trn transferred to 107.5 mn farmers under PM-Kisan: Tomar

The Centre on Wednesday said it has transferred over Rs 1.15 lakh crore directly to bank accounts of more than 10.75 crore farmers under the PM-KISAN scheme and asked states to ensure that all eligible beneficiaries are covered in this flagship programme. Addressing a function on the occasion of the second anniversary of the PM-KISAN, Union Agriculture Minister Narendra Singh Tomar said the government has enhanced the income of farmers by providing Rs 6,000 annually to farmers under this scheme in three equal instalments. The scheme was launched by Prime Minister Narendra Modi on February 24, 2019, from Gorakhpur in Uttar Pradesh. Separately, Modi tweeted about the anniversary that his government ushered a historic increase in the Minimum Support Price (MSP) for crops and was doing everything possible to double the income of farmers. He also said that over the last seven years, the government has taken many initiatives for transforming agriculture. From better irrigation to more ..

Sebi orders attachment of bank, demat accounts of Sunshine Global Agro

Markets regulator Sebi has ordered attachment of bank and demat accounts of Sunshine Global Agro and its directors to recover dues

Lakshmi Vilas Bank depositor? Spread deposits across banks to lower risks

If you hold an account at Lakshmi Vilas Bank, which has been placed under a moratorium restricting withdrawal of more than Rs 25,000, you must have many queries. We try to answer some of them.

Call centre fraud: CBI searches premises of 6 private software companies

The CBI has seized digital evidence, bank accounts and other incriminating documents worth Rs 190

Re-validation of details may be needed for cheques above Rs 50K from Jan 1

Availing of this facility would be at the discretion of the account holder

Scared of online scams and money laundering? Learn how to deal with them

Online scams and money laundering are not a recent phenomenon. But it is back in the news again

Watch out for red flags: Renting your bank account is inviting trouble

If you are offered an excessively attractive sum for this purpose, be warned

FIEO concerned over freezing of exporters' bank accounts, seeks govt's help

In a letter, FIEO President Sharad Kumar Saraf said freezing of bank accounts without any investigation is against the principles of natural justice and is causing irreparable damage to exporters

ED raids firms running Chinese betting apps, freezes Rs 47 cr in 4 accounts

The Enforcement Directorate has frozen four HSBC bank accounts containing Rs 46.96 crore after it raided multiple premises of companies involved in running online Chinese betting apps, according to an official statement. It said the searches were carried out at 15 locations in Delhi, Gurgaon, Mumbai and Pune on Friday under various sections of the Prevention of Money Laundering Act (PMLA). "Searches were conducted on the registered offices of the companies, their directors and chartered accountants involved in illegally running online betting apps from websites which are hosted from outside India," the federal probe agency said in the statement on Saturday. "During the course of search, ED has seized 17 hard disks, five laptops, phones, crucial incriminating documents and has also frozen Rs 46.96 crore held in 4 HSBC Bank accounts," it said. The money laundering case is based on an FIR filed by the Telangana Police against the accused early this year, it added. According to the ..

No current accounts for clients with cash credit, overdraft facilities: RBI

In a notification, the central bank said that rather than opening a new current account, all transactions should be routed through Cash Credit (CC) or OverDraft (OD) account

Money laundering probe: ED freezes 60 bank accounts on Brazil's request

The probe is linked to some high profile people of Brazil

Jan Dhan transactions spur 4-fold surge in demand for banking correspondent

However, despite the surge, the average income of banking correspondents has taken a beating due to the low value of transactions

HDFC Bank adds 250,000 customers via instant account opening in lockdown

Banks were classified as an "essential service" and allowed to be open, but the lockdown meant fewer customer footfalls, making the online alternative helpful to open new deposit accounts