Jetalpur: Speaking at the function to mark 100 years of Ahmedabad District Cooperative (ADC) Bank here, Cooperation Minister Amit Shah today revisited the past days when he was associated with the bank and recalled how the bank was once in very poor condition and on the verge of shutting down. "25 years ago in the ADC election, you members elected me as Chairman, and the event in that connection was held on this same ground at Jetalpur. It was the 75th year of the bank, and the members then had...Read More

Gandhinagar: Axis Bank, one of the largest private sector banks in India, has become the first Indian bank to execute an aircraft financing transaction through its International Banking Unit (IBU) at GIFT City IFSC. The deal was completed for AI Fleet Services Ltd (AIFS), the leasing arm and wholly owned subsidiary of Air India (a Tata Group Company). This marks a breakthrough in India’s aviation finance sector, traditionally dominated by multinational banks, and reinforces GIFT City’s...Read More

Gandhinagar: HDFC Bank today through  a media release informed that an alert HDFC Bank’s staff in Deesa, Gujarat, was able to safeguard ₹ 59.67 lakhs of a customer preventing him from being cheated by fraudster via the digital arrest scam. An alert staff of HDFC Bank’s Dessa branch noticed an abnormal credit in one of the accounts which was not active. The staff promptly initiated an investigation upon recognising discrepancies in the transaction pattern. Through a series of swift and d...Read More

Gandhinagar: As per the quarterly report of State Level Bakers Committee(SLBC) of June 2024-25, Non Residential Indians(NRI) deposits in the banks of Gujarat have gone up at Rs. 93,096.04 crore (over Rs. 93 thousand crores) against Rs. 87,225.87 crroe(over Rs. 87,000 crore) a year ago. Tthe NRIs depositted over Rs. 5870 crore to the banks in Gujarat in a single year. The highest Rs. 1675.34 crore increase in NRI deposits through the year was noticed in Vadodara, followed by Ahmedabad, Kutch...Read More

Ahmedabad: Punjab National Bank (PNB) officials sealed a school in the Isanpur area of the city for non-payment of a loan. One of the trustees of Lotus School, also located in the Isanpur area, had taken a mortgage loan of Rs. 1.46 crore from PNB. The trustee later passed away. The bank had issued repeated notices to the trust to repay the loan. On Friday, the bank officials sealed the school building and posted a notice on the gate informing that the bank had taken possession of the building. T...Read More

Gandhinagar: Digital transactions including RTGS and NEFT have been disrupted in co-operative banks across the country, including Gujarat, due to a fault in the C-Edge software of Tata Consultancy Services (TCS) for the last three to four days.Services are likely to resume as usual on Thursday. Gujarat State Cooperative Bank CEO Pradeep Vora said that 148 cooperative banks and 168 banks including 15 district cooperative banks in Gujarat are connected with TCS's C-Edge software. Outward transa...Read More

Gandhinagar: The Reserve Bank of India has issued a circular today regarding the Remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS) Welcoming this, Tapan Ray, Managing Director and Group Chief Executive Officer of GIFT City said -“We at GIFT IFSC welcome the Reserve Bank of India's recent circular expanding the scope of the Liberalised Remittance Scheme (LRS). This decisive move aligns GIFT IFSC with other global financial centers, al...Read More

HDFC Bank, India’s leading private sector bank, today announced it is undertaking a system upgrade on July 13, 2024. The Bank is migrating its Core Banking System (CBS) onto a new engineered platform for its growing customer base of 9.3 crore individuals and businesses across the country. Tha Bank said this migration will allow the Bank to improve performance speed, expand its capacity to handle high traffic volume, boost reliability and scalability. With this upgrade, HDFC Bank will be one...Read More

Gift City Gujart, Gandhinagar: Axis Bank inaugurated its first domestic retail branch at Gujarat International Finance Tec-City (GIFT City) for both retail and institutional customers. The new branch is located at Tower D, WTC Block No. 51, Road No. 51, Shop 10 & 11, GIFT City, Gandhinagar, Gujarat, India – 382355. The new domestic retail branch at GIFT City will complement Axis Bank’s existing banking unit, which focuses exclusively on international business within the International Fina...Read More

Vadodara: Fire brigade officials sealed an HDFC bank branch located in the Midway Height building near Kala Ghoda Circle, Vadodara. The bank had resumed operations on Tuesday using a generator for electricity. This action comes just two days after the fire brigade team cut off the electricity supply due to a lack of proper fire safety measures. The fire brigade team inspected the Midway Height building on Sunday. During the inspection, they found that the building did not comply with fire saf...Read More