Bank of Baroda doubles minimum balance limit for savings account
Posted on 10th January 2019 |
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| New Delhi: Bank of Baroda (BoB) will be increasing the minimum quarterly average balance that has to be maintained in its advantage savings account. “With effect from 1 February, 2019 the minimum quarterly average balance in Baroda advantage savings account will be updated,” BoB said in a tweet. For metro, urban and semi-urban branches, the bank has doubled the minimum quarterly average balance. However, there is no change for such accounts in its rural branches. The minimum quarterly average balance for BoB advantage savings accounts for urban and metro branches will be increased from Rs 1,000 to Rs 2,000 from 1 February 2019 and for semi-urban branches, the minimum balance will be Rs 1,000. Till now, the customer had to maintain Rs 500 in BoB semi-urban branches. If a customer fails to maintain the minimum quarterly average balance in BoB advantage savings account, then the individual will be fined according to the prescribed slabs by the bank. The maximum charges for non-maintenance of minimum balance are Rs 200 for metro and urban branches and Rs 100 for semi-urban branches, according to a press release by the bank. So, starting 1 February, if you hold a savings account in BoB, you will have to maintain Rs 1,000 (for urban, semi-urban and metro locations) and Rs 500 (for rural locations) in it at all times. The Cabinet has approved amalgamation of Dena Bank and Vijaya Bank with Bank of Baroda. The amalgamation would be the first ever three-way consolidation of banks in India, with a combined business of Rs 14.82 lakh crore, making it the third largest bank after SBI and ICICI Bank. The merger will also create the second largest public sector bank. In 2017, SBI merged five of its subsidiary banks with itself and also took over Bharatiya Mahila Bank. This catapulted the state-owned bank into the league of the top 50 global lenders. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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