SBI Collects Rs 300 Crore from Zero Balance Accounts for Certain Services in 5 Years: Study

Several banks, including State Bank of India (SBI), have been imposing excessive charges on certain services provided to poor persons having zero-balance or Basic Savings Bank Deposit Accounts (BSBDA), a study by the IIT-Bombay has revealed. The study observed that the SBI’s decision to levy a charge of Rs 17.70 for every debit transaction beyond […]

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China service sector grows at fastest pace in seven months in June: official PMI

Activity in China’s services sector expanded at its fastest pace in 7 months in June, official data showed on Tuesday, suggesting consumer confidence is rapidly recovering even as Beijing ramps up coronavirus curbs after a resurgence in infections in the capital. The official non-manufacturing Purchasing Managers’ Index (PMI) rose to 54.4, from 53.6 in May, […]

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