Timeline India

Category: Finance

  • Gangolli: Canara Bank Hosts Loan Awareness and Disbursement Program for Fishermen

    Kundapur, August 22, 2025 – Canara Bank’s Gangolli branch conducted an awareness and loan disbursement program for fishermen on Thursday, August 21, 2025, at the Gangolli Gram Panchayat hall. The initiative, aimed at supporting fishermen in purchasing motors, nets, and other equipment, highlighted loan facilities available through government schemes such as the Pradhan Mantri Matsya Sampada Yojana (PMSY) and Kisan Credit Card (KCC), offering loans starting at ₹50,000 at zero interest. Additionally, financial assistance for self-employment through self-help groups under the Stree Shakti Yojana was emphasized.

    T.A.S. Poornananda, Assistant General Manager of Canara Bank’s Udupi Circle Office, addressed the gathering, detailing the bank’s commitment to supporting fishermen. “Through schemes like PMSY and KCC, we are providing accessible financial aid to help fishermen procure essential equipment,” he said. Pabitra Kumardas, Deputy General Manager of the Udupi Circle Office, disbursed loans to eligible beneficiaries and urged them to leverage these facilities to achieve progress in their livelihoods.

    The event was presided over by Gangolli Gram Panchayat President Jayanti Kharvi. Vice President Tabrez, PDO Shobha, Canara Bank Gangolli branch Senior Manager Vasu Devadiga, Gujjadi branch Manager Aarati Patil, and Maravanthe branch Manager Ambedkar Chaitanya were present. Fisheries Department Deputy Director Sanjeev Arakeri delivered introductory remarks, while Assistant Manager Manjunath R.R. welcomed attendees and anchored the program. Gram Panchayat staff member Narayana Shyanubhag concluded with a vote of thanks.

  • South Western Railway Records Remarkable Growth in Freight and Revenue

    Hubballi, August 06, 2025: South Western Railway (SWR) has achieved significant growth in freight transportation and revenue during the first four months of the financial year 2025-26, from April to July 2025, reflecting its operational excellence and customer-centric strategies.

    During this period, SWR transported a total of 16.27 million tonnes of freight, marking a 15.8% increase compared to 14.05 million tonnes in the same period last year. This 2.22 million tonne surge highlights SWR’s efforts in optimizing operations and strengthening ties with key industries. Major commodities transported include iron ore, which led with 6.41 million tonnes (a 15.8% increase from 5.54 million tonnes last year), steel, which saw the highest growth at 3.54 million tonnes (a 42.1% increase from 2.49 million tonnes), and coal, which rose by 13.4% to 3.32 million tonnes. Raw materials for steel plants recorded the highest percentage increase, rising 51.4% from 0.47 million tonnes to 0.71 million tonnes. Fertilizer loading increased by 12.6% to 0.42 million tonnes, and container freight grew by 29.4% to 0.32 million tonnes.

    On the revenue front, SWR reported strong performance across all major streams. Passenger revenue reached ₹1,064 crore, with 59 million passengers traveling compared to 55 million in the same period last year. Coaching services, including parcels and other non-passenger services, generated ₹113 crore, up from ₹107 crore last year. Freight revenue, a key contributor, amounted to ₹1,716 crore, a significant rise from ₹1,387 crore in the previous year, reflecting robust demand and operational efficiency. Miscellaneous revenue from rentals, advertisements, and other sources grew to ₹79 crore from ₹62 crore. Overall, SWR recorded a total revenue of ₹2,972 crore, a ₹338 crore increase from ₹2,634 crore in the corresponding period of 2024.

    This consistent and broad-based performance underscores South Western Railway’s commitment to financial prudence, enhanced service delivery, and strategic growth in both freight and passenger sectors.

    Press Statement by Dr. Manjunath Kanamadi, Chief Public Relations Officer, South Western Railway, Hubballi.

  • RBI revises ATM transaction charges: From today, cash withdrawals to cost more

    The Reserve Bank of India (RBI) has announced a hike in ATM transaction charges, effective from May 1, 2025. Customers exceeding the free monthly transaction limit will now be charged up to Rs 23 per transaction, an increase from the earlier cap of Rs 21.

    Key Highlights

    1. Free transactions limit:Charges beyond free limit
      • Own bank ATMs: 5 free transactions (financial + non-financial) per month.
      • Other bank ATMs:
        • Metro cities: 3 free transactions.
        • Non-metro cities: 5 free transactions.
    2. Maximum Rs 23 per transaction, applicable to both financial (e.g., withdrawals, deposits) and non-financial (e.g., balance enquiry, PIN change) services.
    3. This also applies to transactions at Cash Recycler Machines (CRMs), except for cash deposits.
    4. The new rule is applicable to all commercial banks, including regional rural banks (RRBs), co-operative banks, authorised ATM network operators, card payment network operators, and white-label ATM operators.

    ATM Interchange Fee

    The interchange fee—a charge banks pay each other for ATM usage by non-customers—remains unchanged:

    • Rs 19 per financial transaction.
    • Rs 7 per non-financial transaction.

    For instance, if you’re an HDFC customer withdrawing money from an SBI ATM in Kochi and exceed your free limit, HDFC may charge you the applicable Rs 23 fee for that transaction.