In most states, commercial banks are closed today to observe the Jain festival of Mahavir Jayanti. The banks will reopen on Tuesday at usual timings. Mahavir Jayanti is one of the most important religious festivals in Jainism. It celebrates the birth of Mahavir, the twenty-fourth and last Tirthankara of present Avasarpini (a half of the cosmic time cycle). During the current week, the banks will remain closed countrywide on the occasion of Good Friday, April 10. The government and the central bank have been appealing to the customers to make use of the digital mode for payments in order to protect themselves against coronavirus. Equity, money and commodity markets are also closed for trading today on account of the festival. Trading will resume on Tuesday. … [Read more...] about Banks closed today on account of Mahavir Jayanti
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Maybe you’re thinking he shoved all his cash in the so-called “Faangs”: Facebook, Amazon, Apple, Netflix and Google. But his biggest tech holdings are rather more mundane: PayPal, Microsoft and Amadeus. Microsoft may sound like yesterday’s company, but its share price is up 248% compared with 228% at Facebook (which he also holds) over the past five years. And Amadeus, used by most airlines as their booking system, is up 280% compared with Google’s 168%. … [Read more...] about Is Terry Smith the best money manager Britain has ever had?
Related articleDigital banking is becoming a reality in Slovakia Read more “Last year was marked by a worrying rise in mobile banking Trojans, malware designed to steal credentials and money from users’ bank accounts,” said Kořen, adding that this malware generally looks like a legitimate app, such as a banking application. When a victim tries to reach their genuine bank app, the attackers gain access to their credentials. … [Read more...] about Attackers use latest technologies to trick bank clients for money
Hanoi (VNA) - The Vietnam Bank for Social Policy (VBSP) has proposed cutting the loan interest rate for poor households by 15 percent from April 1 until the end of the year. Under the proposal, families who made a great contribution to the nation will also receive a reduction of 10 percent. The bank also proposed that employers can borrow money at the bank with no interest for a year to pay employees who must cease working for three months due to the pandemic. It is estimated a total of 16.2 trillion VND (688 million USD) will be borrowed and 3 million workers will benefit from the programme. In recent days, relevant ministries and the VBSP have been completing the Government’s draft resolution about supporting residents in coping with COVID-19 pandemic. VBSP Deputy General Director Nguyen Duc Hai said most people borrowing money at the bank were poor, or families who made great contributions to the nation. He said the bank had implemented different … [Read more...] about Poor households to receive support from social policy bank
By Syed FasiuddinKotak Mahindra Bank (KMB) on Monday announced that total deposits within the bank grew by 11.7% to Rs 2,58,000 crores. The announcement comes as both IndusInd Bank and RBL announced loss of deposits in Q4 owing to withdrawal of Government Deposits post the trust erosion caused by the YES Bank crisis. The Mumbai based lender said its CASA Ratio stood at 56.2 per cent; with current account deposits growing by 16.9 per cent to Rs 43000 crores. Saving Accounts also grew by 14 per cent to Rs 1,04,000 crores as compared to Q3. Protecting Balance SheetThe bank in a conference call said focus should be on protecting its Balance sheet amidst COVID-19 rather than getting carried away to grow its Profit & Loss statement – said Dipak Gupta, JMD of Kotak Mahindra Bank. The bank clarified that it did not see a loss of deposits in the quarter specifically as it did not hold very high amounts of government deposits. Notably, the lender also said that it saw a slight uplift … [Read more...] about Q4: Kotak Mahindra Bank deposits grow by 11.7%; focused on protecting balance sheet