The Finance Minister said that under the tax devolution, the state got Rs 13,782 crore in 2014-2019 from the center while it received Rs 3,844 crore in 2009-2014.

Last year, the RBI had barred three US-based card networks - MasterCard, American Express and Diners Club International - from issuing new cards in India as these companies were perceived to be noncompliant with local data storage rules.

Last year on April 23, 2021, the regulator had imposed restrictions on American Express from on-boarding new domestic customers onto its card network from May 01, 2021 for non-compliance with the RBI circular on on Storage of Payment System Data.

Explaining the situation, he said the Indian banks had adopted the British model, and the laws don't allow lenders to borrow from the capital market, which essentially makes deposits the only source of funds.

Cost of mobile does not include Goods and Services Tax (GST). At present, the GST rate on mobile phones is 18 per cent. The revised norms are applicable from April 1, 2022 as per the decision of the board of the bank, sources said.

"Considering the bank's present liquidity position, no amount from the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn, but are allowed to set off loans against deposits...," it said.

Officials in the government and the state-backed Life Insurance Corp. of India, which together own about 94% of IDBI Bank’s shares, are in talks about how much of their stakes they plan to sell, the people said. Both parties are expected to retain a stake in the lender after the sale, the people said, asking not to be identified as the information is confidential.

The Financial Services Institution Bureau (FSIB) has selected 14 candidates for the executive director (ED) post at the public sector banks, according to a notification issued by the bureau. The highest number of candidates were selected from the Bank of Baroda followed by Punjab National Bank.

Commercial banks net credit to the real estate sector witnessed 3.5 times growth during 2021, as compared to the pandemic period, shows the Reserve Bank of India's data on sectoral lending.