Daily Excelsior

Excelsior Correspondent SRINAGAR, June 9: The Government of Jammu & Kashmir as per its commitment to inclusive financial empowerment today entered into a significant Memorandum of Understanding (MoU) with J&K Bank to extend a host of banking, insurance and credit-related benefits to daily-rated workers, contractual employees, and other casual workers engaged by the Government. The occasion was graced by the Chief Secretary, Atal Dulloo and was held in the presence of Financial Commissioner (Addi

NEW DELHI, June 5: Finance Minister Nirmala Sitharaman on Monday said that over 58 crore Jan Dhan accounts have brought crores of Indians into the formal banking system. The Jan Dhan scheme has ensured that benefits under welfare schemes, low-cost insurance, and pensions reach without leakages, the Finance Ministers office said in a post on X. Garib Kalyan is Honble PM Shri @narendramodis guarantee of dignity, opportunity and empowerment for every Indian, she said. India has stood out globally i

Excelsior Correspondent JAMMU, June 2: J&K Bank today signed a Memorandum of Understanding (MoU) with Shri Mata Vaishno Devi University (SMVDU), Kakryal, Katra, under its Corporate Salary Package (CSP), enabling the universitys employees to avail a range of customised banking benefits and preferential financial services. The agreement was signed at the office of the Vice Chancellor of SMVDU. Registrar Ajay Kumar Sharma and J&K Bank Zonal Head (Udhampur) Lalit Prakash signed the MoU on behalf of

Excelsior Correspondent JAMMU, May 23: Punjab National Bank (PNB) today entered into a Memorandum of Understanding (MoU) with the Shri Mata Vaishno Devi Shrine Board (SMVDSB) to provide customized salary account services and concessional interest rates on personal loans for its employees. The MoU was formally signed by PNB Circle Head, Jammu, Pankaj Kumar Verma and Additional CEO of SMVDSB, Alok Kumar Maurya during a ceremony attended by senior officials from both organizations. Under this partn

MUMBAI, May 22: The Reserve Bank of India (RBI) on Friday injected Rs 81,590 crore transient liquidity into the banking system through a three-day variable rate repo (VRR) auction. Transient liquidity is temporary cash flow fluctuations in a financial or banking system, while a Variable Rate Repo (VRR) auction is a monetary tool used by the RBI to inject short-term liquidity into the banking system. In a release the RBI said the funds were infused at a 5.26 per cent [] The post RBI injects Rs 81

The alleged multi-loan fraud that has surfaced in Bandipora is not merely a case of financial wrongdoing; it is a deeply disturbing indictment of systemic weaknesses within the banking mechanism itself. When more than a hundred people, most of them labourers and economically vulnerable families with little understanding of complex banking procedures, can allegedly be trapped over several months without detection, serious questions arise about institutional safeguards and accountability. What mak

MUMBAI, May 14: Stock markets rose for the second consecutive day on Thursday with the benchmark Sensex jumping by nearly 790 points in a volatile session, driven by value buying in telecom, pharma and private banking shares. The 30-share BSE Sensex jumped 789.74 points, or 1.06 per cent, to close at 75,398.72. The index opened higher but slipped into negative territory in late morning deals. However, value buying in telecom and banking shares helped the barometer pare losses and later [] The po

NEW DELHI, May 8: The Supreme Court on Friday said the matter concerning alleged large-scale banking fraud involving Anil Dhirubhai Ambani Group and its firms required a thorough investigation after the CBI said the total loss estimated in seven cases was around Rs 27,337 crore. The CBI told the apex court nine FIRs had been lodged, including the two in which charge sheets have been filed, and investigations were on in seven cases. A bench of Chief Justice Surya Kant [] The post Large-Scale Bank

RBI cancels banking licence of Paytm Payments Bank: Statement The post RBI cancels banking licence of Paytm Payments Bank: Statement appeared first on Daily Excelsior .

NEW DELHI, Apr 19: Indias banking sector remains resilient in the backdrop of heightened geopolitical uncertainties, with a majority of bankers anticipating a non-food credit growth of 11-13 per cent during January-June 2026, according to the FICCI-IBA Bankers Survey unveiled on Sunday. The outlook is supported by improving balance sheets, steady economic activity, sustained demand across multiple segments of the economy with robust retail and SME credit momentum, and early signs of revival in p

*Addresses Axis Bank Senior Management Confluence Excelsior Correspondent SRINAGAR, Apr 14: Chief Minister Omar Abdullah today addressed the Axis Bank Senior Management Confluence here, underscoring the critical role of the banking sector in strengthening financial inclusion, supporting entrepreneurship, and driving sustainable economic growth in Jammu & Kashmir. Advisor to the Chief Minister Nasir Aslam Wani, MLA Gulmarg Pirzada Farooq Ahmed Shah, MLA Zadibal Tanvir Sadiq, MLA Hazratbal Salman