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Here are SBI's new service charges that kick in from today IMPS fund transfer charges through internet banking/UPI/IUSSD will be Rs 5 plus service tax for up to Rs 1 lakh. 10-leaf cheque book to now cost Rs 30+ST. Over 10 banks red flag Anil Ambani's Reliance Communications over missed loan payments More than 10 local banks have red-flagged their loans given to the mobile operator which has suffered a loss of Rs 966 cr in the January-March quarter. RBI wants you to keep your account number while switching banks For unhappy customers, this could be a relief as it will save them the trouble of opening a new account each time they want to switch banks. NITI Aayog CEO Amitabh Kant predicts the demise of banks in 5-6 years' time It will be very difficult for physical banks to survive because the cost of running their operation will be so enormous, Kant said. Saddled with NPAs, worried banks looking at ways to solve RCom's loan repayment woes If RCom's debt turns into NPA, it will add to the already massive burden on the banking system, which is grappling with stressed loans of more than Rs 12 lakh cr. Public Sector Banks: How mergers and strategic sale appear to be a distinct possibility The govt, which has to own at least 51% in banks by statute, is not in a position to provide capital. And private capital can’t flow either because of law. Reliance Communications calls for financial package for stressed telecom industry RCom reported a net loss of Rs 966 cr for the fourth quarter of the fiscal gone by compared to a net profit of Rs 90 cr in the same period last year. Syndicate, Canara, Vijaya and Dena Banks make presentations to Finance Ministry on consolidation plans The four banks made their presentations separately last week to senior FinMin officials on various aspects like existing loan portfolios, deposits and human resource practices. Here's how India's big remedy for bad loans may badly backfire NCLAT has rebuked ICICI Bank, for moving a default application against Starlog Enterprises at the National Company Law Tribunal, with misleading claims. At this rate, Fintech will slaughter India's banks The lazy banking system obsessed with the collateral lending process can learn from fintech companies that are fast gaining currency in this digital era.