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Monday, December 31, 2018

RBI allows Paytm Bank to restart account opening

The RBI had asked the bank to stop adding new customers about six months back in June.

from Banking/Finance-Industry-Economic Times http://bit.ly/2QZNCTT
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Centre infuses Rs 3,076 crore capital into UCO Bank

The lender posted Rs 1,136.44 crore net loss for the second quarter of FY19 against a net loss of Rs 622.56 crore for the same period of previous fiscal

from Banking/Finance-Industry-Economic Times http://bit.ly/2s48Scc
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Kotak Mahindra deadline: Is RBI waiting for court verdict?

RBI may await Bombay HC ruling

from Business Line - Money & Banking http://bit.ly/2QbnMHu
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What will drive the rupee in 2019?

General elections, oil price, Brexit, and US Fed rate hikes may weigh on the currency

from Business Line - Money & Banking http://bit.ly/2CHf9kt
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RBI expresses concern over debt portfolios of Mutual Funds

Apex bank asks SEBI to frame rules on ‘concentrated’ segment

from Business Line - Money & Banking http://bit.ly/2TjUbxr
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Net profits of RRBs decline 9% in FY18

Decline due to rise in operating expenses, higher provisioning

from Business Line - Money & Banking http://bit.ly/2VlV2j1
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BBB to conduct interviews for top posts at LIC on Jan 4

Based on the recommendations of the BBB, the government is likely to take a decision by the end of January

from Business Line - Money & Banking http://bit.ly/2Su5t2e
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Govt not seeking RBI reserves to meet fiscal deficit: Jaitley

Finance Minister Arun Jaitley on Monday reiterated that the government does not need RBI’s surplus to bridge the fiscal deficit. Rather it would prefe

from Business Line - Money & Banking http://bit.ly/2EY29s4
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RBI rings in New Year cheer for NBFCs, HFCs

Extends relief on single borrower exposure, liquidity norms by 3 months

from Business Line - Money & Banking http://bit.ly/2R0wVrK
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RBI sees banking sector 'on course to recovery’

Financial stability report expects fall in banks’ GNPA ratio to 10.3% in March 2019

from Business Line - Money & Banking http://bit.ly/2EYcpAz
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Open camp office in Kerala: Court to CBDT

This is among the key directions issued with respect to tax-payers affected by the August floods who were required to file the tax audit report

from Business Line - Money & Banking http://bit.ly/2F1KpNe
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Insolvency and Bankruptcy Code has a long way to go

Despite several flaws in the three-year-old bankruptcy code, the Government remains unperturbed

from Business Line - Money & Banking http://bit.ly/2VmRZXF
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Intra-group borrowings: Revised FINCON on the way for capturing more info: RBI

In addition, it is also important to have an oversight of groups that are engaged in financial intermediation with significant spillover

from Business Line - Money & Banking http://bit.ly/2SsQLZ9
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Axis Bank MD & CEO Shikha Sharma retires

Amitabh Chaudhry will be the new managing director and CEO of the bank with effect from January 1, 2019, it said further.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Vkjjpw
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Axis Bank MD, CEO Shikha Sharma retires

Amitabh Chaudhry will be the new managing director and CEO of the bank with effect from January 1, 2019

from Business Line - Money & Banking http://bit.ly/2EZOlOH
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Banks' bilateral exposure to financial system at 46.5%: RBI

NBFCs were the largest net borrowers of funds from the financial system with gross payables of around Rs 7.46 lakh crore and gross receivables of around Rs 56,000 crore as at September-end 2018.

from Banking/Finance-Industry-Economic Times http://bit.ly/2SvnfC0
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IL&FS effect: RBI to relook at financial conglomerates' oversight

The crisis had an impact on the wider financial markets as risks from possible asset liability mismatches at other NBFCs got recognised.

from Banking/Finance-Industry-Economic Times http://bit.ly/2F0xawu
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PCA framework helped reduce contagion losses: RBI report

RBI has placed 11 state-run banks, including Bank of India, Allahabad Bank, United Bank of India, Corporation Bank, IDBI Bank and UCO Bank, under the PCA framework.

from Banking/Finance-Industry-Economic Times http://bit.ly/2EX5GYB
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Bank GNPAs improved to 10.8 pc; net NPAs to 5.3 pc in September: RBI

The top 100 large borrowers accounted for 16 per cent of the gross advances and 21.2 per cent of GNPAs of banks, according to the RBI report.

from Banking/Finance-Industry-Economic Times http://bit.ly/2EYPw0G
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Banking sector on “course to recovery” as NPAs recede: RBI

The banking sector is on “course to recovery” as the afflicting non-performing assets recede, but state-run lenders need reforms in governance, Gover

from Business Line - Money & Banking http://bit.ly/2VkU5HL
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Banking sector on 'course to recovery' as NPAs recede: RBI

The weaker ones among the public sector banks need to be supported through recapitalisation, the Governor said in his foreword to RBI's half-yearly financial stability report (FSR).

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2R2AwWe
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Banking sector on "course to recovery" as NPAs recede: RBI

RBI Governor said even though the current NPA levels are high, stress tests done by the RBI have pointed to an improvement in the ratio in future.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GOikLg
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Allahabad Bank, SBI Life join hand for bancassurance partnership

The tie-up will see 3,238 branches of Allahabad Bank across the country offer SBI Life's range of protection, wealth creation and savings products to its customers.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Rl8t3H
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Credit link subsidy scheme on home loans for MIG extended till March 2020

Addressing a press conference, Puri said he has signed the file pertaining to the extension of the CLSS under which the government provides a subsidy of up to Rs 2.67 lakh on home loans.

from Banking/Finance-Industry-Economic Times http://bit.ly/2VkQfOT
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Sensex, Nifty end 2018 on a flat note

On BSE, Tata Steel, Vedanta, Sun Pharma, Tata Motors, IndusInd Bank and Kotak Mahindra Bank were among the top gainers with their stocks surging as much as 1.59 per cent. On the NSE platform, apart from Nifty FMCG and Realty, all other sub-indices closed in green with Nifty Metal leading the pack, up 1.36 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2CJ1vgN
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Micro-finance sector’s total gross loan portfolio grew by 9%: Report

Growth indicates a ‘resurgence of the micro-finance industry’.

from Business Line - Money & Banking http://bit.ly/2R2hyic
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Insurance industry goes on tech drive to expand coverage

Technology is the new friend in town for insurance industry as it strives to add more customers in a country that still remains largely under-insured, after a year full of reforms and introduction of easier-to-understand products.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Qd0ilf
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Bank of India may escape PCA net with Rs 10,086 crore govt boost

The Rs 10,086-crore capital infusion plan for BoI makes it the second bank in the latest phase of the government’s equity enhancement exercise for PSBs, under which seven of the total 21 will be covered. United Bank of India (UBI) was the first bank to announce a similar fund infusion plan by the government.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2EXusb2
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Insurance industry goes on tech drive to expand coverage

The sectoral regulator Insurance Regulatory and Development Authority of India (Irdai) proposed to encourage companies to develop new technologies, asked insurers to make their products more attractive and customer friendly.

from Banking/Finance-Industry-Economic Times http://bit.ly/2RqjFff
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EPFO may give subscribers option to increase stock investments in new year

Subscribers of the retirement fund body EPFO may get an option in the new year to invest more of their savings in equity market, besides a host of ot

from Business Line - Money & Banking http://bit.ly/2s3yuGs
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RBI decides not to touch valuation gain

RBI board recorded that it will not touch the 'unrealised gains' for dividend distribution to the govt.

from Banking/Finance-Industry-Economic Times http://bit.ly/2CFG4x0
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Banks: Strong growth momentum in retail lending

Loan growth of 21% y-y in Q2FY19 driven by volumes; barring LAP segment, asset quality remains stable.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2AnoyvX
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Sunday, December 30, 2018

IL&FS probe: CA Institute to follow own course; next hearing on Jan 12

The CA Institute will independently continue with its disciplinary proceedings against the signing audit partners of IL&FS Ltd and two of its su

from Business Line - Money & Banking http://bit.ly/2Vj3jEr
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RBI exhorts urban coop banks to become small-finance banks

UCBs with a minimum net worth of ₹50 crore and a CRAR of 9% and above are eligible for a voluntary transition

from Business Line - Money & Banking http://bit.ly/2GKdlLm
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RBI eyes phone-based solution to help blind identify currency

The Reserve Bank of India (RBI) is looking at a mobile phone-based solution to help the visually impaired easily identify Indian currency notes.Curre

from Business Line - Money & Banking http://bit.ly/2EWzgN5
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Banks recover Rs 40,400 crore from defaulters: RBI report

In the fiscal ended March 2018, banks recovered Rs 40,400 crore worth of bad loans as against Rs 38,500 crore recovered in FY17.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Qd9G8m
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Provision coverage ratio of PSU banks on the rise, crosses 66 per cent

The provision coverage ratio (PCR) gives an indication of the provision made against bad loans from the profit generated. Higher the PCR, lower is the unexposed part of the bad debts.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2LG8vhk
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RBI exploring mobile phone-based solution to help visually impaired identify banknotes

The Reserve Bank is looking at a mobile phone-based solution to help visually impaired people easily identify Indian currency notes. Currently, intaglio printing-based identification marks are present in banknotes of Rs 100 and above for helping the visually challenged identify them.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2QaSf8H
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Clamour grows for review of RBI’s ownership rules for private banks as Kotak deadline approaches

As an RBI deadline ends on Monday for Kotak Mahindra Bank to reduce promoters' stake, clamour has increased for a review of the central bank's ownership guidelines for the country's private sector lenders.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Vg1Qi4
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Banks recover Rs 40,400 crore from defaulters: RBI report

In the fiscal ended March 2018, banks recovered Rs 40,400 crore worth of bad loans as against Rs 38,500 crore recovered in FY17.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Qd9G8m
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Provision coverage ratio of PSU banks on the rise, crosses 66 per cent

The provision coverage ratio (PCR) gives an indication of the provision made against bad loans from the profit generated. Higher the PCR, lower is the unexposed part of the bad debts.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2LG8vhk
Read more »

RBI exploring mobile phone-based solution to help visually impaired identify banknotes

The Reserve Bank is looking at a mobile phone-based solution to help visually impaired people easily identify Indian currency notes. Currently, intaglio printing-based identification marks are present in banknotes of Rs 100 and above for helping the visually challenged identify them.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2QaSf8H
Read more »

Clamour grows for review of RBI’s ownership rules for private banks as Kotak deadline approaches

As an RBI deadline ends on Monday for Kotak Mahindra Bank to reduce promoters' stake, clamour has increased for a review of the central bank's ownership guidelines for the country's private sector lenders.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Vg1Qi4
Read more »

RBI exploring mobile phone-based solution to help visually impaired identify banknotes

The Reserve Bank is looking at a mobile phone-based solution to help visually impaired people easily identify Indian currency notes. Currently, intaglio printing-based identification marks are present in banknotes of Rs 100 and above for helping the visually challenged identify them.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2QaSf8H
Read more »

Clamour grows for review of RBI’s ownership rules for private banks as Kotak deadline approaches

As an RBI deadline ends on Monday for Kotak Mahindra Bank to reduce promoters' stake, clamour has increased for a review of the central bank's ownership guidelines for the country's private sector lenders.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Vg1Qi4
Read more »

RBI exploring mobile phone-based solution to help visually impaired identify banknotes

The Reserve Bank is looking at a mobile phone-based solution to help visually impaired people easily identify Indian currency notes. Currently, intaglio printing-based identification marks are present in banknotes of Rs 100 and above for helping the visually challenged identify them.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2QaSf8H
Read more »

Clamour grows for review of RBI’s ownership rules for private banks as Kotak deadline approaches

As an RBI deadline ends on Monday for Kotak Mahindra Bank to reduce promoters' stake, clamour has increased for a review of the central bank's ownership guidelines for the country's private sector lenders.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Vg1Qi4
Read more »

RBI exploring mobile phone-based solution to help visually impaired identify banknotes

The Reserve Bank is looking at a mobile phone-based solution to help visually impaired people easily identify Indian currency notes. Currently, intaglio printing-based identification marks are present in banknotes of Rs 100 and above for helping the visually challenged identify them.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2QaSf8H
Read more »

Clamour grows for review of RBI’s ownership rules for private banks as Kotak deadline approaches

As an RBI deadline ends on Monday for Kotak Mahindra Bank to reduce promoters' stake, clamour has increased for a review of the central bank's ownership guidelines for the country's private sector lenders.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Vg1Qi4
Read more »

Banks recover Rs 40,400 cr from defaulters: RBI report

Recovery through IBC, SARFAESI Act, debt recovery tribunals (DRTs) and Lok Adalats

from Business Line - Money & Banking http://bit.ly/2Qb6GcO
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Banks recover Rs 40,400 crore from defaulters: RBI report

The channels through which lenders recovered bad loans include IBC, SARFAESI Act, debt recovery tribunals and Lok Adalats.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GOvS9w
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Provision coverage ratio of PSU banks on the rise, crosses 66%

The provision coverage ratio (PCR) gives an indication of the provision made against bad loans from the profit generated. Higher the PCR, lower is the unexposed part of the bad debts.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Sn8b9K
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Government to infuse Rs 10,086 crore in Bank of India

The finance Ministry had informed the bank about the capital infusion on Wednesday (December 26), Bank of India said in a regulatory filing. The fund infusion would be by way of preferential allotment of shares, it said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2EVSWkO
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Saturday, December 29, 2018

Centre to infuse ₹10,086 cr in Bank of India

State-owned Bank of India on Saturday said the government has decided to infuse ₹10,086 crore in the bank as part of ₹28,615 crore capital infusion t

from Business Line - Money & Banking http://bit.ly/2ViiePh
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Government to infuse Rs 10,086 crore in Bank of India

The finance Ministry had informed the bank about the capital infusion on Wednesday (December 26), Bank of India said in a regulatory filing.

from Banking/Finance-Industry-Economic Times http://bit.ly/2BMRw8t
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PCA-banks see slower bad debt growth: RBI

The RBI’s PCA imposes restrictions on lending and some other operations for banks that have been put under this framework, some of which had become contentious issues between the central bank and the government when Urjit Patel was the governor.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2GI2nGb
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Not dissatisfied with RBI, says Arun Jaitley

“No, madam,” Jaitley said to a question whether the government is not satisfied about the functioning of the RBI. The government and the RBI under the previous governor Urjit Patel were at loggerheads on several issues, including over appropriate size of reserves which the central bank should hold.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2RtymhT
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Strengthen NCLT infrastructure to speed up resolutions: RBI

RBI underscored the need to strengthen the NCLT infrastructure to accommodate the likely large number of cases that may be referred to the dedicated bankruptcy courts.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Q6z0Nj
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Bad loans of PSU banks are declining: Govt officials

The NPAs of PSBs have begun dropping, registering a fall of Rs 23,860 crore in the first half of this FY.

from Banking/Finance-Industry-Economic Times http://bit.ly/2AuStT9
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RBI to set up compliance portal to track cyber fraud

Of the reported frauds, 22.7% were cyber related in 2013-14 while the percentage grew to 34.1% in 2017-18, indicating a hike in not just the volume of fraudulent cases but also more cyber-related crimes.

from Banking/Finance-Industry-Economic Times http://bit.ly/2RkUOJJ
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Soon, bank-type asset liability management norms for NBFCs

ALM guidelines are applicable to non-deposit-taking NBFCs with asset size of Rs 100 crore and above and to those deposit-taking companies which have a deposit base of Rs 20 crore and more.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GUXVnA
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Friday, December 28, 2018

Lowering capital buffer detrimental to banks, economy, says RBI

The Reserve Bank Friday warned that with high bad loans and inadequate provisioning to cover the same, any relaxation in the regulatory capital requirement or risk-weights could be detrimental to banks in particular and the economy in general.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ERMJWf
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RBI says banks under PCA report slower NPA growth in FY18

The 11 public sector banks that are under the prompt corrective action (PCA) framework have shown lower growth in gross non-performing assets as against non-PCA banks, the Reserve Bank said in a report Friday.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ET7oKw
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NPAs of PSU banks decline by over 23,000 cr in H1 FY19, says official

Various initiatives taken by the government have yielded results, with the bad loans of public sector banks declining by over Rs 23,000 crore from a peak of Rs 9.62 lakh crore in March 2018, said a senior finance ministry official.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ERMHh5
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RBI relaxes withdrawal limit for depositors of City Co-operative Bank

The Reserve Bank has increased the withdrawal limit for depositors of City Co-operative Bank Ltd, Mumbai, to Rs 5,000.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VcA71H
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Union Bank of India first PSU bank to announce capital infusion by government

United Bank of India became the first of the country’s ailing state-run banks to announce a new cash injection from the government, disclosing in a filing that it will receive 21.6 billion rupees ($308 million) to improve its capital ratios.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2GLe7I9
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Kotak Mahindra stake dilution: With two days to go for RBI deadline, all eyes on Uday’s moves

The lender could face action similar to Bandhan Bank

from Business Line - Money & Banking http://bit.ly/2CES02d
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Payments banks continue to struggle; losses double to ₹516 crore

The consolidated net loss of all the PBs in India has more than doubled

from Business Line - Money & Banking http://bit.ly/2Vg05S3
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With RBI nod, ESAF is now ‘scheduled bank’

This makes ESAF Small Finance Bank the fifth scheduled bank from Kerala

from Business Line - Money & Banking http://bit.ly/2Q9vbHl
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Tell us how to become a better bank: SBI to employees

Bank to conduct survey of over 2 lakh officers and clerical staff

from Business Line - Money & Banking http://bit.ly/2ViZZJc
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Bank-like asset-liability rules for NBFCs, soon

Non-banking finance companies, corporate governance top the RBI’s agenda for 2019

from Business Line - Money & Banking http://bit.ly/2Q7Zf60
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Banks on a long and winding road to debt recovery

 Persisting asset-quality concerns, subdued earnings, no meaningful recovery in loan growth, and structural challenges of capital and governance conti

from Business Line - Money & Banking http://bit.ly/2VhMU3c
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RBI extends liquidity sops for banks to March 31

This facility was initially available up to December 31, 2018 will now be extended to March 31, 2019.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GIKaIB
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Lowering capital buffer detrimental to banks, economy, says RBI

The Reserve Bank Friday warned that with high bad loans and inadequate provisioning to cover the same, any relaxation in the regulatory capital requirement or risk-weights could be detrimental to banks in particular and the economy in general.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ERMJWf
Read more »

RBI says banks under PCA report slower NPA growth in FY18

The 11 public sector banks that are under the prompt corrective action (PCA) framework have shown lower growth in gross non-performing assets as against non-PCA banks, the Reserve Bank said in a report Friday.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ET7oKw
Read more »

NPAs of PSU banks decline by over 23,000 cr in H1 FY19, says official

Various initiatives taken by the government have yielded results, with the bad loans of public sector banks declining by over Rs 23,000 crore from a peak of Rs 9.62 lakh crore in March 2018, said a senior finance ministry official.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ERMHh5
Read more »

RBI relaxes withdrawal limit for depositors of City Co-operative Bank

The Reserve Bank has increased the withdrawal limit for depositors of City Co-operative Bank Ltd, Mumbai, to Rs 5,000.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VcA71H
Read more »

Union Bank of India first PSU bank to announce capital infusion by government

United Bank of India became the first of the country’s ailing state-run banks to announce a new cash injection from the government, disclosing in a filing that it will receive 21.6 billion rupees ($308 million) to improve its capital ratios.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2GLe7I9
Read more »

‘Procedural issues getting resolved’

JSW Steel is among the few corporates to have an interesting tryst with IBC. After giving up attempts to takeover Bhushan Steel, it succeeded in acqu

from Business Line - Money & Banking http://bit.ly/2LIit1G
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Bad loans: Scheduled lenders recover more in FY18 via IBC, SARFAESI Act

Scheduled commercial banks managed to recover more from non-performing assets (NPAs) in 2017-18 against 2016-17 due to vigorous efforts for speedy rec

from Business Line - Money & Banking http://bit.ly/2EQCSkk
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Led by cyber activity, off-balance sheet operations, banks see 72% rise in frauds

Frauds in the banking sector increased sharply in 2017-18

from Business Line - Money & Banking http://bit.ly/2AmSKHt
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‘Lenders must improve credit monitoring to avoid NPAs’

Bank credit is recovering from the risk aversion of recent years and bank intermediation in the flow of resources to the commercial sector is regainin

from Business Line - Money & Banking http://bit.ly/2SqRfio
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ESAF small finance bank gets RBI nod to operate as scheduled bank

This makes Thrissur-based ESAF small finance bank (SFB) the fifth scheduled bank from Kerala.

from Banking/Finance-Industry-Economic Times http://bit.ly/2ETeduH
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Annus horribilis for lenders

With bank frauds leading to massive losses at PSBs, defaults that had a ripple effect on the banking sector, and a change of guard at the RBI, it was an eventful 2018

from Business Line - Money & Banking http://bit.ly/2CCyz9U
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RBI backs higher capital norms, need for prompt corrective action

The central bank said the Indian banking system has a high proportion of nonperforming assets (NPAs) that aren’t provided for in relation to capital levels.

from Banking/Finance-Industry-Economic Times http://bit.ly/2LEg48e
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‘GST data should be available to lenders to vet loan proposals’

K Ram KumarThe banking sector is expected to continue its focus on retail loans due to the relatively lower risks involved and expand MSME lending on

from Business Line - Money & Banking http://bit.ly/2SoNcDt
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Number of ATMs declines to 2.07 lakh in FY18: RBI Report

The growth of white-label ATMs has also tapered off in recent years

from Business Line - Money & Banking http://bit.ly/2AjzJ8Z
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Gross NPAs jump to 11.2% or Rs 10.39 tln in FY18: RBI Report

Private sector peers banks' GNPA ratio stood at a much lower level of 4.7 percent as against 4.1 percent in FY17.

from Banking/Finance-Industry-Economic Times http://bit.ly/2CEX6eD
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Central Bank to raise Rs 200 cr via staff stock purchase plan

The government in 2017, had allowed public sector banks to offer stock options to their employees, aimed at retaining experienced hands and better incentives besides a means for raising capital

from Business Line - Money & Banking http://bit.ly/2QTKicV
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Over 6,000 officers of PSBs held responsible for badloans in FY18: Arun Jaitley

In written reply, Finance Minister Arun Jaitley said that minor and major penalties have been imposed against erring officials. These include, dismissal, compulsory retirement and demotion.

from Banking/Finance-Industry-Economic Times http://bit.ly/2CDx3EQ
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RBI has called for better NCLT infratsructure for time bound resolution of stressed assets

In this context, the proposed public credit registry (PCR) will aggregate information about borrowers from multiple agencies at one place and allow safe access to the data for all important stakeholders in the financial system.

from Banking/Finance-Industry-Economic Times http://bit.ly/2TdeM6z
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Over 6,000 officers of PSBs held responsible for bad loans in FY18: Jaitley

The Centre said action has been taken against more than 6,000 officers of nationalised banks last fiscal in cases of lapses that led to bad loans. In

from Business Line - Money & Banking http://bit.ly/2VfJwpt
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No of ATMs declines by 10,000 to 2.07 lakh in FY18: RBI report

The growth of white-label ATMs has also tapered off in recent years, although the number of such ATMs crossed 15,000 -mark in FY18.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Q7DcfD
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RBI to ensure sustainable growth of NBFCs with adequate credit

The NBFC sector has seen a liquidity crisis after a series of defaults by Infrastructure Leasing & Financial Services (IL&FS) and its many subsidiaries

from Business Line - Money & Banking http://bit.ly/2QWtUsq
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Over 6,000 officers of PSU banks held responsible for bad loans in FY18: Jaitley

The government on Friday said action has been taken against more than 6,000 officers of nationalised banks last fiscal in cases of lapses that led to bad loans. Finance minister Arun Jaitley said that minor and major penalties have been imposed against erring officials. These include dismissal, compulsory retirement and demotion.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2SqT4fd
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Gross NPAs jump to 11.2 per cent in FY 18: RBI Report

Private sector peers banks’ GNPA ratio stood at a much lower level of 4.7 percent as against 4.1 percent in FY17

from Business Line - Money & Banking http://bit.ly/2Sv2RBj
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Fincare SFB targets Rs 5500 crore business in FY19

After Kochi, Fincare plans to open branches at Thiruvananthapuram and Kozhikode.

from Banking/Finance-Industry-Economic Times http://bit.ly/2QSj72h
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Banks may take more than $3 billion hit from PNB fraud, says tax department

Banks had extended loans and guarantees worth $2.74 billion to companies tied to Nirav Modi.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GH85II
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India Post Payment Bank opens nearly 19 lakh accounts till date: Minister

As many as 9,75,806 transactions took place till December 20 this year.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Q7J5cK
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Sensex ends 269 points higher, reclaims 36,000-mark; Nifty at 10,860

On the BSE index, Sun Pharma, Bajaj Finance, Vedanta, HDFC, Yes Bank and ICICI Bank were the top gainers, rising as much as 2.98 per cent. On NSE, all the sub-indices ended in green with Nifty Media led the pack by gaining 1.93 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2s19zmA
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Banks may take more than $3 billion hit from PNB fraud: Tax dept

As of March 2017, banks had extended loans and guarantees worth Rs 17,632 crore ($2.74 billion) to companies tied to billionaire jeweller Nirav Modi and his uncle Mehul Choksi, the tax department said in a note seen by Reuters.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2AmqtRl
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RBI relaxes withdrawal limit for depositors of City Co-operative Bank

"A sum not exceeding Rs 5,000 of total balance in every savings bank account or current account or term deposit account or any other deposit account...may be allowed to be withdrawn by depositor...," the RBI said in a release.

from Banking/Finance-Industry-Economic Times http://bit.ly/2QTfedu
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Government wants a fresh review of planned merger of state-run insurance companies

The DIPAM has asked the Department of Financial Services (DFS) to get the issue of merger of three state-owned insurance companies examined and prepare a fresh roadmap.

from Banking/Finance-Industry-Economic Times http://bit.ly/2QQPUom
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SBI to conduct employee engagement survey in bid to improve performance

Employee opinion crucial to making SBI a better bank, says Chairman, Rajnish Kumar, in communication to staff

from Business Line - Money & Banking http://bit.ly/2ESITft
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Sensex surges over 300 points; Nifty above 10,850

On the BSE index, HDFC, Sun Pharma, Yes Bank, Vedanta and HDFC Bank were among the major gainers, rising as much as 1.87 per cent. On NSE, sub-indices Nifty financial service and Pharma tracked major gains, up as much as 1.06 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2StGo7G
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RBI says it prefers to keep liquidity in ‘slight deficit’

Leaders of private banks expressed concerns over liquidity deficit at their first meeting with the new governor amid apprehensions that the absence of better cash flows could dent credit growth in the fourth quarter.

from Banking/Finance-Industry-Economic Times http://bit.ly/2BNEuav
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Bank-led resolution of NPAs set to begin

Indian Banks’ Association has now asked the 34 lenders to initiate and send the resolution proposals under the scheme.

from Banking/Finance-Industry-Economic Times http://bit.ly/2BI1cBa
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Thursday, December 27, 2018

Government infuses Rs 2159 cr in United Bank of India

The Finance Ministry had informed the bank about the capital infusion on Wednesday (December 26), United Bank of India said in a regulatory filing.

from Banking/Finance-Industry-Economic Times http://bit.ly/2ERdhI3
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CA Institute’s disciplinary probe hearing against IL&FS auditors postponed

There is no information on when the next hearing will take place

from Business Line - Money & Banking http://bit.ly/2ERhnjB
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YES Bank’s ‘blended finance facility’ to the rescue of Rann of Kutch’s salt farmers

Rann of Kutch accounts for more than 75 per cent of the salt production

from Business Line - Money & Banking http://bit.ly/2RhlQ4N
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Satin Creditcare to create separate subsidiary for SME business: CMD

Expects Satin Finserv to grow its loan book to ₹300 crore by March 2020, says HP Singh

from Business Line - Money & Banking http://bit.ly/2QQUJ1d
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Kerala Gramin Bank calls off 10-day strike

The indefinite hunger strike in front of the bank headquarters in Malappuram has also been called off

from Business Line - Money & Banking http://bit.ly/2BGz7Kl
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Recovery picking up momentum: Syndicate Bank CEO

With various States having launched farm loan waivers, bankers are facing a tough time implementing the scheme. Worse, farmers have stopped servicin

from Business Line - Money & Banking http://bit.ly/2QPReb4
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Ask bidders going on appeal to deposit up to 1% of loan amount: Banks to IBBI

Move aimed to deter bidders approaching NCLAT just to derail resolution process

from Business Line - Money & Banking http://bit.ly/2AsDbyf
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RBI allows Sidbi to use an existing Rs 1000-crore corpus for lending to MFIs

Sidbi is providing fund to Cashfor at 8% rate while it on lends at 16.98%. SKDRDP is getting fund at 5% and on lending to micro borrowers at 15.4%.

from Banking/Finance-Industry-Economic Times http://bit.ly/2SnqN9r
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Governor Shaktikanta Das meets private sector bankers

Following default by Infrastructure Leasing & Financial Services (IL&FS) in September, liquidity situation in the system became too tight.

from Banking/Finance-Industry-Economic Times http://bit.ly/2CA9Q6m
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Government to infuse Rs 28,615 cr in 7 PSBs soon

The government is likely to infuse Rs 28,615 crore into seven public sector banks (PSBs) through recapitalisation bonds by the end of this month, sources said Thursday.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2EScXJk
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Government to infuse Rs 28,615 cr in 7 PSBs soon

The government is likely to infuse Rs 28,615 crore into seven public sector banks (PSBs) through recapitalisation bonds by the end of this month, sources said Thursday.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2EScXJk
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Govt to infuse Rs 28,615 cr in 7 PSBs soon

Recapitalisation will enhance the lending capacity of PSBs and help them come out of RBI’s Prompt Corrective Action framework

from Business Line - Money & Banking http://bit.ly/2BG4VyZ
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New ED for Corporation Bank

The Centre has appointed Birupaksha Mishra as an Executive Director of Corporation Bank. He has taken over the charge on December 26. Mishra is a Post

from Business Line - Money & Banking http://bit.ly/2Q7jQrc
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Depositors of City Co-op Bank allowed to withdraw up to Rs 5,000 from accounts

RBI modifies earlier directive restricting withdrawals to Rs 1,000

from Business Line - Money & Banking http://bit.ly/2Aj5I9n
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Inspection of six companies linked to ICICI Bank controversy at 'advanced stage'

There are allegations of involvement of former ICICI Bank chief Chanda Kochhar and her family members in a loan provided to Videocon Group on a quid pro quo basis.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Lzytmz
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SBI recruitment: Just a day left to apply for 39 posts

Last date to apply is December 28

from Business Line - Money & Banking http://bit.ly/2SsYiHH
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Bank workers at it again: Second nation-wide strike within a week

The nation-wide strike would impact banking services like deposits and withdrawal at branches, cheque clearances and issuance of demand drafts, among others.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2AiVwh7
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Liquidity concerns: National Housing Bank’s refinance cap hiked to Rs 50,000 cr

The hike in limit comes even as housing finance companies (HFCs), an important segment of non-banking financial companies (NBFCs), have availed of only about Rs 12,000 crore-Rs 14,000 crore from the NHB since July against the over Rs 23,000 crore sanctioned.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2RhvfcF
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RBI launches survey on people’s retail payment habits

The Reserve Bank of India (RBI) has launched a survey to understand the "Retail Payment Habits of Individuals" (SRPHi).

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Si7uOR
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Public sector banks recovery against non-performing assets doubles this year

The finance ministry said following amendments to the Banking Regulation Act, the Reserve Bank of India directed banks to initiate insolvency proceedings.

from Banking/Finance-Industry-Economic Times http://bit.ly/2QP1O22
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NBFC, HFC heads meet PM Narendara Modi over liquidity issues – Here is what they suggested

Representatives from NBFCs and housing finance companies Wednesday met Prime Minister Narendra Modi here and gave suggestions on how to "revive" the sector facing liquidity issues, especially after debt defaults by crisis-hit IL&FS.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Ta34ti
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NBFC, HFC heads meet PM Narendara Modi over liquidity issues – Here is what they suggested

Representatives from NBFCs and housing finance companies Wednesday met Prime Minister Narendra Modi here and gave suggestions on how to "revive" the sector facing liquidity issues, especially after debt defaults by crisis-hit IL&FS.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Ta34ti
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Wednesday, December 26, 2018

NBFC, HFC heads meet PM Narendara Modi over liquidity issues – Here is what they suggested

Representatives from NBFCs and housing finance companies Wednesday met Prime Minister Narendra Modi here and gave suggestions on how to "revive" the sector facing liquidity issues, especially after debt defaults by crisis-hit IL&FS.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Ta34ti
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Open a liquidity window: NBFC chiefs petition PM

Say credit line either from govt or RBI will boost confidence

from Business Line - Money & Banking http://bit.ly/2GIxnWK
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General insurers planning a registry of serial offenders

Concerned over the rising cases of fraudulent claims, the general insurance industry is working together on a common registry of repeat offenders tha

from Business Line - Money & Banking http://bit.ly/2ELZYI1
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Why 2018 was ‘a year of exits’ in the banking sector

First, loans went kaput and borrowers left the country after defaulting on payments or committing frauds; then, high-profile bankers were forced to le

from Business Line - Money & Banking http://bit.ly/2BRpWqL
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Aadhaar curbs may affect KYC process for payday loans: Inditrade chief

Restrictions on the use of Aadhaar could make online know-your-customer (KYC) process a challenge for ‘payday loans’, says Sudip Bandyopadhyay, Group

from Business Line - Money & Banking http://bit.ly/2QOmjMg
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Centre has spent ₹850 crore on Ayushman Bharat till date

But more than three months after its launch, technical glitches, State-wise disparity remain

from Business Line - Money & Banking http://bit.ly/2BJ2YSB
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Ombudsman directs ICICI Pru to pay ₹23 lakh as refund for terminating customer’s policy

There was no communication from the insurer after the customer decided to exercise the option of reduction of premium amount

from Business Line - Money & Banking http://bit.ly/2CzstXP
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Allahabad Bank seeks ₹800 cr from divestment

Lender aiming to bring down NPAs to ₹24,000 crore by the end of FY19

from Business Line - Money & Banking http://bit.ly/2SmMqXF
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Bimal Jalan to head expert panel on Economic Capital Framework

In the backdrop of the government reportedly seeking transfer of excess capital from the Reserve Bank of India so that the same can be productively de

from Business Line - Money & Banking http://bit.ly/2Q0rZxy
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Bimal Jalan to head expert panel on Economic Capital Framework

Panel to decide on appropriate size of reserves to be maintained by RBI

from Business Line - Money & Banking http://bit.ly/2CAkJF5
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IL&FS names retired IAS officer Bijay Kumar as deputy MD

The company has also appointed N Srinivasan as a non-executive director of the company.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Skneks
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Former RBI Governor Bimal Jalan to head Economic Capital Framework committee

Expert committee on economic capital framework will have to give its report within 90 days from its first meeting.

from Banking/Finance-Industry-Economic Times http://bit.ly/2QTmTsc
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Piramal Capital and Housing Finance launches home loan product -‘AdvantAGE’

Piramal Capital and Housing Finance Ltd. (PCHFL), a wholly owned subsidiary of Piramal Enterprises Ltd, announced the launch of their new home loan pr

from Business Line - Money & Banking http://bit.ly/2V9TKYh
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NBFC sector seeks liquidity window to restore confidence

Non Banking Finance Companies (NBFC) on Wednesday knocked the Centre's doors to provide a "liquidity window" to restore confidence in the sector and h

from Business Line - Money & Banking http://bit.ly/2rX8gFk
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Strike paralyses banking operations in Mumbai

All banking operations were paralysed in the country's financial capital on Wednesday, following a strike by various banking employees and officers unions, officials said here.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2BCCxh2
Read more »

Premium of non-life insurers rises 27 percent to Rs 12,551 crore in November

Of these, 25 general insurance companies wrote gross direct premium of Rs 11,498.11 crore, up 26.4 per cent from November 2017.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ESofwQ
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Checking bank fraud: Vigilance commission takes this action on PSU banks, insurance firms

Probity watchdog Central Vigilance Commission (CVC) has started examining audit reports of state-run banks and insurance companies to check incidents of fraud and suggest corrective measures, officials said Wednesday. 

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2EOQpJf
Read more »

Strike paralyses banking operations in Mumbai

All banking operations were paralysed in the country's financial capital on Wednesday, following a strike by various banking employees and officers unions, officials said here.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2BCCxh2
Read more »

Premium of non-life insurers rises 27 percent to Rs 12,551 crore in November

Of these, 25 general insurance companies wrote gross direct premium of Rs 11,498.11 crore, up 26.4 per cent from November 2017.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ESofwQ
Read more »

Checking bank fraud: Vigilance commission takes this action on PSU banks, insurance firms

Probity watchdog Central Vigilance Commission (CVC) has started examining audit reports of state-run banks and insurance companies to check incidents of fraud and suggest corrective measures, officials said Wednesday. 

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2EOQpJf
Read more »

Strike paralyses banking operations in Mumbai

All banking operations were paralysed in the country's financial capital on Wednesday, following a strike by various banking employees and officers unions, officials said here.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2BCCxh2
Read more »

Premium of non-life insurers rises 27 percent to Rs 12,551 crore in November

Of these, 25 general insurance companies wrote gross direct premium of Rs 11,498.11 crore, up 26.4 per cent from November 2017.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ESofwQ
Read more »

Checking bank fraud: Vigilance commission takes this action on PSU banks, insurance firms

Probity watchdog Central Vigilance Commission (CVC) has started examining audit reports of state-run banks and insurance companies to check incidents of fraud and suggest corrective measures, officials said Wednesday. 

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2EOQpJf
Read more »

Year of Exits: Borrowers left as loans went kaput; CEOs forced to leave and RBI chief quits too

The magnitude of the scam shook the entire banking system and PNB is still trying to overcome this.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2GFZG86
Read more »

Strike paralyses banking operations in Mumbai

All banking operations were paralysed in the country's financial capital on Wednesday, following a strike by various banking employees and officers unions, officials said here.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2BCCxh2
Read more »

Premium of non-life insurers rises 27 percent to Rs 12,551 crore in November

Of these, 25 general insurance companies wrote gross direct premium of Rs 11,498.11 crore, up 26.4 per cent from November 2017.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ESofwQ
Read more »

Checking bank fraud: Vigilance commission takes this action on PSU banks, insurance firms

Probity watchdog Central Vigilance Commission (CVC) has started examining audit reports of state-run banks and insurance companies to check incidents of fraud and suggest corrective measures, officials said Wednesday. 

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2EOQpJf
Read more »

Year of Exits: Borrowers left as loans went kaput; CEOs forced to leave and RBI chief quits too

The magnitude of the scam shook the entire banking system and PNB is still trying to overcome this.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2GFZG86
Read more »

To check fraud, CVC starts examining audit reports of PSBs, insurance cos

Vigilance commissioner T M Bhasin told PTI the CVC is getting a review done of central statutory reports, concurrent auditors' reports and other auditor reports through chief vigilance officers of all public sector banks and insurance companies.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2QTknCo
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