Only three public sector banks — State Bank of India, Indian Overseas Bank and Corporation Bank — levy charges on even the smallest money transfer done via mobile phones using the National Electronic Fund Transfer or NEFT facility, data compiled from public sector banks show. None of the remaining 18 public sector banks have a […]
With the country’s largest bank, State Bank of India, refusing to rollback service charges for customers who do not maintain a minimum balance in their accounts, only Oriental Bank of Commerce, UCO Bank and Punjab & Sind Bank remain as ‘free’ providers of savings bank services, according to an analysis of RBI data. SBI said […]
Credit Rating agency Brickwork Ratings India Pvt Ltd. downgraded bonds issued by Indian Overseas Bank from A- to BBB+. It maintained its outlook on the bonds as negative. The downgrade has come in the context of rising bad loans on the bank´s balance sheet. Indian Overseas Bank is one of the worst affected banks as […]
