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

Gandhinagar: An ATM machine of HDFC bank was found in a farm of Pisad village. It was taken from a location near Reliance petrol pump in Vagra. More than Rs. 3.50 lakh cash from ATM was looted from this ATM after cutting its chamber possibly through a gas cutter. A farmer who spotted a broken ATM in his farm informed police about this. The incident took place late in the night. The CCTV camera was sprayed to make its vision blind by robbers. In another incident, robbers took away Rs. 25.38 c...Read More

Ahmedabad: A prospective account holder might not know the various types of accounts that a bank offers. However, the most basic ones are the current account and savings account. Understanding the advantages of current accounts is quite imperative as it helps you with more flexible access to your funds. They are used for daily banking activities and are most appropriate for those who transact money from one account to another. The following points highlight the features and benefits of the cu...Read More

Palanpur: Gujarat Chief Minister today dedicated and performed ground breaking for several initiatives of Banas Dairy and Bank. The Chief Minister launched Kisan Credit Card which avails loan at zero percent interest to farmers and cattle keepers. The idea is to connect cooperatives to only cooperative banks so that cooperative to cooperative interaction can grow further. The Kisan Credit Card initiative was first launched in Banaskantha and Panchmahal districts as a pilot project. It has bee...Read More