Sterling Bank & Trust, FSB’s Post

Regulators announce coordinated review into bank branch sales practices: https://ow.ly/PXp450UfVQp The OSC and CIRO / OCRI announced a coordinated review into the sales practices within Canadian bank branches. The review follows a public report of potential investor harm due to alleged high-pressure sales practices for mutual funds at some Canadian banks. 

https://lnkd.in/g8cUmzkw The RBI circular, issued on November 20, 2014, states that 1. Banks should inform the customers immediately if the minimum balance requirement is not being met. They should also inform customers about the penal charges that would be applicable for not maintaining minimum balance in savings accounts with them. 2. Banks should notify the customer by SMS, email, letter or other modes that if the minimum balance is not restored in the account within a month from the date of notice, penal charges will be applicable. 3. It should be ensured that the balance in the savings account does not turn into a negative balance solely on account of levy of charges for non-maintenance of minimum balance #Banks #Bankcharges #NMC #Awareness

FAQs on RBI Master Direction - Credit Card and Debit Card – Issuance and Conduct Directions, 2022. #rbicompliance #creditcards #debitcards #rbiguidelines

New guidelines of RBI: Three types of bank accounts will be closed from January 1, 2025 #MostRecent #bankingreforms #closingbankaccount #DigitalBanking #inactiveaccount #KYCupdate #RBInewguidelines2025 #Zerobalanceaccount

In spite of a 59 percent decline in attempted fraud cases within the banks and Specialised Deposit Taking Institutions (SDI) sector in 2023, the total loss value surged to approximately GH¢72 million – indicating .. https://lnkd.in/dZCQtsdP #bftonline #bft #business #news #businessinsight #finance

Here is a point of reference 2023 Bank Branch closing's.

"What if your bank were to go bankrupt or face a terrorist attack?" After all, we deposit our hard earned money in the bank account. See, your money is safe because your bank has insured your account with the RBI. So, if your bank goes bankrupt at any point, the RBI will pay you back up to 5 lakhs per account holder. So, does that mean you can't deposit more than Lakhs? Don't worry, you can. To make the most of this, invest in Fixed Deposits (FDs) from small finance banks for higher interest rates (around 8-8.5% p.a.). Spread your money across multiple accounts in these banks, ensuring each account has around ₹4-4.5 lakhs to stay within the insured limit. Now that you know how to protect your money.

🤔💸Will ATM Withdrawals Cost More? RBI may Revise Withdrawal Charges!🏦🏧 🔸Interchange Fee: may Increase to ₹20-23 per transaction 🔸Convenience Charge: Additional fees for higher cash withdrawals.

If you have your entire savings of 50million naira in one bank and the bank shuts down, you get 5million from NDIC. If that does not sound enough to you and you are extremely risk averse, have no fear, there's a solution. You can open accounts in 10 banks and put 5 million in each one , so if all 10 banks go under, you still get your 5 million from each bank and your 100 million remains intact. #RiskManagement #Finance #Fact

SBI CHIEF SAYS BANKS LACK SKILLS TO LEND TO NEW SECTORS READ MORE https://lnkd.in/d8Gp2_vp LENDERS TO RCAP ACCUSE IIHL OF USING DELAYING TACTICS, COMPANY DENIES ALLEGATION READ MORE https://lnkd.in/dXtS3bfb BANKS ASK RBI TO REDUCE ‘RUN OFF’ FACTOR INCREASE READ MORE https://lnkd.in/dtutsUDd