Bankers, the frontline warriors in India’s coming fintech revolution

A number of senior bankers, armed with intimate understanding of strengths and weaknesses of traditional banking, are breaking new ground in fintech.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2KeUENh

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SBI appoints Arijit Basu as new managing director; here’s all about veteran banker

The government appointed Arijit Basu as managing director of the country's largest lender State Bank of India.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2yxwtbm

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WhatsApp updates privacy policy ahead of payments service launch

Almost one million people are “testing” WhatsApp’s payments service in India

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ICICI reveals a whistleblower complaint over loans

A statement issued by the bank said that the anonymous communication was treated as a whistleblower complaint and an enquiry was instituted.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2MPuWAw

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ICICI Bank faces new whistleblower plaint over loans

ICICI Bank has disclosed that it has received a whistleblower complaint, alleging irregularities in respect of 31 loan accounts worth Rs 6,082 crore.

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IBA wants panel to clear prosecution of bankers

The Indian Banks’ Association (IBA) is asking the government to set up an independent panel, with a senior executive from the Reserve Bank of India (RBI), whose clearance will be required before initiating criminal proceedings against bankers.

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Bank of Maharashtra arrests: Indian Banks Association moots independent panel to ok arrests of senior bankers

Unanimously condemning the arrest of the Bank of Maharashtra brass for "taking bona fide decisons", top bankers today called for forming an independent committee to give clearances to initiate criminal proceedings against senior bankers.

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Received complaints about 31 loan accounts from anonymous complainant, says ICICI Bank

Private sector lender ICICI Bank today said it had received complaints about 31 loan accounts from an anonymous complainant, on which an enquiry was made and interim report was submitted to the regulator.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2lubmgY

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Axis Bank puts beleaguered Lanco Kondapalli Power on sale as it fails to pay off debt

Axis Bank has put up for sale Lanco Kondapalli Power, which owns and operates 1476 MW gas-based power plants as the power producer failed to pay dues.

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Whistle-blower flagged 31 a/cs in March: ICICI Bank

ICICI Bank on Friday said a whistle-blower had in March alleged irregularities in 31 borrower accounts, which had led to incorrect classification of

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MFIs lower rates with greater efficiency, lower cost of funds

RBI has capped lending rates of NBFC-MFIs at 10% over their cost of funds or 2.75 times the average base rate of five large banks, whichever is less.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2K0vN3K

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Arijit Basu to be State Bank of India's new Managing Director

A graduate in Economics and a Master of Arts in History, Basu has held several key positions in State Bank of India.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2K7Aa98

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ICICI Bank probes 31 loan accounts on whistleblower complaint

The largest private sector lender said that it received anonymous complaint against the treatment of these 31 accounts in March.

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Arrest of Bank of Maharashtra officials unwarranted: IBA

Claims authorities misused MPID Act; seeks formation of committee to get clearance for criminal proceedings against top-level bankers

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A tale of two cities ... and insurance discrimination

NS VageeshFor the residents of the twin cities Hyderabad and Secunderabad, their exact location of residence does not matter for all practical purpos

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Karnataka Bank targets farm credit portfolio of ₹9,000 cr

Our Bureau Karnataka Bank is planning to achieve a farm credit portfolio of ₹9,000 crore for 2018-19, according to Mahabaleshwara MS, Managing Dire

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Economists divided on RBI’s next rate hike

Our BureauEconomists differed on what the RBI would do next, based on the release of the monetary policy committee’s minutes of its meeting earlier

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Insurance firms ready to offercover for infertility treatment

Shobha RoyNearly 27.5 million couples in India suffer from infertility. And the number is likely to go up by more than 10 per cent by 2022, according

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Realty sector’s growing debt trap likely to lead to repayment crisis

Recent slowdown due to policy changes weakens the sector’s credit profile

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Nothing unusal, says bank; 1.6 lakh deposited Rs 746-crore banned notes, says NABARD

NABARD also said of the total number of accounts with ADCB, only 0.09 percent comprised accounts with deposits of more than Rs 2.5 lakh.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2lu0zmY

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No unusual deposits in Ahmedabad DCCB during demonetisation: Nabard

The Ahmedabad DCCB verification conducted by Nabard revealed that the bank had complied with all the KYC guidelines of the RBI while accepting the demonetised notes.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2tl2PB7

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Karnataka Bank targets Rs 9,000 cr agri-loan this fiscal

Private sector lender Karnataka Bank is targeting to disburse about Rs 9,000 crore agriculture loan this fiscal, seeing potential opportunities in t

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Bank stocks propel sedate market, Sensex gains 250 points

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Bank of Baroda goes to CBI with loan fraud charges against PSL Ltd

Pipe maker PSL Ltd stands accused of siphoning off Rs 700 crore from a dedicated account linked to GAIL projects, payments for which due to the lender.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2tyvIcH

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Microfinance loan cap raised to Rs 80000 per borrower

Private banks such as IndusInd, IDFC and RBL are increasing their exposure to the bottom of the pyramid customers while industrial credit demand is yet to show momentum.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2MKjkic

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SBI eyes slashing NPAs by ₹50,000 cr in FY19

Further provisions likely to bring down net NPAs: Chairman

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Modi govt’s term may see lowest policy rate hike in 27 years: SBI report

Our BureauThe five-year tenure of the Narendra Modi-led government may end with the lowest policy rate hike since 1991, according to a research repor

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RBI tells banks to upgrade ATMs ‘in a phased manner’

Our BureauAs part of its ‘control measures for ATMs’, the Reserve Bank of India has directed banks and white-label ATM operators (WLAOs) to implement

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Karnataka Bank earmarksexport credit of ₹2,900 cr

Our Bureau Karnataka Bank has earmarked export credit of ₹2,900 crore for 2018-19. Delivering the keynote address at the Forex Business Conference o

from Business Line - Money & Banking https://ift.tt/2MckZfE

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Aadhar Housing posts ₹100-cr net

Our BureauAfter its merger with DHFL Vysya Housing Finance, Aadhar Housing Finance is expecting a 55 per cent growth in loan disbursement and 50 per

from Business Line - Money & Banking https://ift.tt/2JVWRB8

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ICICI Lombard grows market share across categories

Expands across fire, engineering, marine and liabilities insurance segments

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Will the RBI break its silence on the ICICI Bank issue?

May seek more details on top-level changes at the bank

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United Bank of India aims to recover ₹4,000-cr NPAs under NCLT in FY19

Seeks ₹2,000-cr capital support to expand business

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RBI asks banks to upgrade ATMs for greater security

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RBI to FinMin: Feb 12 circular gives enough space for resolution of bad loans

During the meeting association of power producers (APP) and independent power producers association of India (IPPAI) were present and made their submission.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2Md9ncm

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ICICI Bank yet to respond to SEBI’s notice over allegations against Chanda Kochhar

ICICI Bank launched an enquiry into the allegations levelled by “an anonymous whistleblower” accusing her of quid pro quo and not adhering to ‘code of conduct’, amid the ongoing controversy over the Videocon loan case.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2K9gNzO

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Sundaram BNP Paribas to revise FD interest rates

Sundaram BNP Paribas Home Finance will increase the interest rates for 12 and 18-month deposit schemes from tomorrow. The interest rates for 12-month

from Business Line - Money & Banking https://ift.tt/2yukY4x

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Karnataka Bank earmarks Rs 2900 Cr for export sector

India’s exports will rise in 2018-19 spurred by positive global economic outlook, according to Karnataka Bank Managing Director M.S.Mahabaleshwara.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2lmp6Kx

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Bank with Amit Shah as a director collected highest amount of banned notes among DCCBs: RTI reply

The Ahmedabad District Cooperative Bank secured deposits of Rs 745.59 cr of the spiked notes in just five days after PM Modi made the demonetisation announcement.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2tnzTYA

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Crisis of confidence in banking system provides an opportunity to unleash reforms

When the problems were just limited to bad loans and even the PNB fraud, most of the guns were trained at the inefficient working of the public-sector banks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JVA0ps

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ICICI Bank may have rotating chairman

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2K344Lz

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View: Crisis of confidence in banking system provides an opportunity to unleash reforms

Current developments point towards a pandemic problem ailing the Indian banking sector, which cannot be resolved with quick-fix solutions.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2M91GUg

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Lapses at PNB ‘go beyond branch officers’

Internal probe reveals how 54 officials were involved in the $2-billion scam

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Corporate loan growth signals business revival

Banks are loosening their purse strings

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Muthoot Fincorp, NSDC to train over 10,000 youth to be job-ready

Muthoot Fincorp has announced a partnership with the National Skill Development Corporation (NSDC) to train over 10,000 youth over the next three yea

from Business Line - Money & Banking https://ift.tt/2K0s02o

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AIIB ready to pump in $1.9 bn more into the country

The country, the second largest shareholder in the Beijing-headquartered lender, is already the largest borrower accounting for commitments to the tune of USD 1.2 billion of the overall USD 4.5-billion committed so far.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2I8kNeG

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BoB partners Accenture, IBM to drive growth through technology

Our BureauPublic sector lender Bank of Baroda has mandated IT majors IBM and Accenture to create an IT Centre of Excellence (ITCoE) and Analytics Cen

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BankBazaar aiming for 600% growth in international biz

Priyanka PaniOnline financial services aggregator BankBazaar is looking to expand its international business by entering countries with a significant

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L&T Finance eyes 30%growth in micro loans

Our BureauL&T Finance is expecting close to 30 per cent growth in its micro loan portfolio this fiscal. The growth will be backed by its foray in

from Business Line - Money & Banking https://ift.tt/2MEvb1g

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UAE Exchange to expand NBFC biz under new brand name Unimoni

Aims to achieve a loan book of ₹1,500 crore by the end of FY19

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MPC members voted for ratehike on inflation risk worry

Our BureauAll six members of the rate-setting monetary policy committee flagged the upside risk to retail inflation due to hardening crude oil prices

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SBI's B Sriram appointed CMD of IDBI Bank

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B Sriram, MD of SBI to take additional charge of IDBI Bank, Jain to take charge at RBI soon

M K Jain will be the fourth DG at the central bank. The post has been vacant since july 2017 after S S Mundra completed his term.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2K4j8Jc

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Bank of Maharashtra CMD, ED among six held in Rs 2,043 crore fraud by DSK group

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2lljvnK

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ICICI Bank begins hunt for chairman after Sandeep Bakshi’s COO appointment as Chanda Kochhar goes on leave

After Sandeep Bakshi’s appointment as the chief operating officer, ICICI Bank may get a new chairman as incumbent MK Sharma’s tenure ends on June 30.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JUSXbF

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PNB scam: Lapses at many levels of bank led to India’s $2 billion fraud, shows internal report

PNB's own internal probe has found that the $2 billion fraud may have been orchestrated by a few rogue employees, but it escaped detection because of widespread risk-control and monitoring lapses in many areas of the bank.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2liEPKF

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Margadarsi Chit Fund’s turnover surpasses Rs 10,000 cr

Margadarsi Chit Fund Private Ltd has achieved a turnover of Rs 10,204 crore in the financial year ended March 31, 2018. This was disclosed by it's M

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Bank of Maharashtra CEO, executive director held for role in Rs 3,000 crore DSK Group default case

Pune-based builder DS Kulkarni and his wife Hemanti who were arrested in February this year are accused of cheating over 4,000 investors of Rs 1,154 crore.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2yqt9ie

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18,000 bank branches, post offices have Aadhaar facility now: UIDAI

UIDAI had in July last year asked private as well as public sector banks to set up Aadhaar facility in at least one out of 10 branches.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2lnrUHw

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Bankers chalk out strategy to promote lending to corporates, MSME, says Piyush Goyal

The minister assured bankers that government is behind the honest employees.

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‘Efforts on to bring entire farmers in W. Bengal into the banking fold’

Nearly one-fourth of the farmers in West Bengal do not have access to agricultural credit through Kisan Credit Card (KCC).According to Ashok Kumar P

from Business Line - Money & Banking https://ift.tt/2tkEU4a

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Banks ‘reluctant to fund’ waste-to-energy projects

Even as the Centre has formulated a policy to boost the use of bio-fuels in the country, players in the sector have raised concerns over funding diff

from Business Line - Money & Banking https://ift.tt/2tmD3Mh

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MD Mallya seen as top contender for ICICI Bank Chairman’s post

Former Bank of Baroda Chairman and Managing Director MD Mallya is being seen as the top contender for the role of Non Executive Chairman of ICICI Ba

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PSBs team up to bolster consortium lending

Okay ‘inter-creditor’ arrangement to improve delivery of credit to enterprises

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Arcil eyeing foreign investor;aims to raise ₹1,000 crore

K Ram KumarTo bolster its ability to buy stressed assets from lenders, the Asset Reconstruction Company (India) Ltd (Arcil) has firmed up plans to ro

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P2P lending platforms pick up steam

Shobha Roy / Abhishek LawGurgaon-based Sahil Singh, a chef by profession, had applied for a house refurbishing loan of ₹3 lakh. His application was

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Axis Bank hikes MCLR by 10bps

Our BureauPrivate sector Axis Bank increased its marginal cost of lending rate (MCLR) by 10 basis points. “The lending rates have increased from 8.95

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IndoStar Capital eyes 30%growth in disbursements

Vehicle finance to be the key growth engine

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ABSLI poised for higher growth: CEO

Customer-driven approach, traditional insurance products steer growth

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India pole vaults to top 5 nations in FinTech, says Amitabh Kant. Guess how much was invested in 2017

The number of deals happening in the financial technology space of the country has witnessed a sharp increase from 2014 onwards.

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Reeling under humongous NPAs, PSU banks vow to support ‘genuine’ borrowers

After the meeting with PSBs, Piyush Goyal told reporters that all 21 PSBs have decided to extend their support to companies with a borrowing between Rs 200 and Rs 2,000 crore.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2M1QOHO

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With Chanda Kochhar on leave, who is the real boss at ICICI Bank?

Kochhar’s own stinking pile of corporate bad loans offers evidence that ICICI’s board has been a failure.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ymjkC1

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ICICI Bank reshuffle has left many questions unanswered: Jefferies India

In a report on Tuesday, brokerage Jefferies India has called Bakshi’s appointment as temporary and questioned the board's wisdom to have a three tier structure.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2K09rP9

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RBI revises upwards housing loan limits under priority sector

The loans disbursed under the priority sector lending category are cheaper than the market interest rate.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2tjzBC4

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Govt open to giving more powers to RBI, says Piyush Goyal

Finance Minister Piyush Goyal today said the government is open to giving more powers to RBI to deal more effectively with frauds like the ones alle

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Chanda Kochhar's confidante N S Kannan to head ICICI's life insurance venture

Kannan has served as the chief financial officer of the bank for 5 years, a position he took over from current chief Kocchar when she moved to the corner office in 2009.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2lniL1H

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RBI revises upwards housing loan limits under priority sector

Housing loans of up to Rs 35 lakh, for dwellings costing less than Rs 45 lakh, will be treated as priority sector lending (PSL) to give a fillip to th

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IBSFintech bags order from IMR Metallurgical Resources

IBSFintech, a fintech start-up, has bagged an order from Swiss trading company IMR Metallurgical Resources to manage its Treasury operations.The Benga

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Public money extremely safe in PSU banks: FM Piyush Goyal

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2JNympC

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PSBs to now work in a team to solve the bad loan problem: Piyush Goyal

"Banks will have a creditors agreement among themselves to iron out problems related to consortium banking," Finance Minister said after a meeting with PSB chiefs.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2K5B4q2

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From trainee to Padma Bhushan to forced leave: The rise and fall of Chanda Kochhar

Kochhar has had a dream career. In 1984, when she joined ICICI as a management trainee, no one would have imagined she would become MD & CEO 25 years later.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2JZScKv

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This PSU banker is being considered for Axis Bank top job

Jayakumar, 56, joined BoB on October 2015 and was heading VBHC Value Homes prior to taking charge of the lender.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2ypx3Iq

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View: Mirror, mirror on the wall, who is the real ICICI Bank boss?

The board saved face when it said Kochhar will be on leave. A change of guard required to instill confidence in the fairness of the probe is also occurring.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2JY1KWh

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Led by private sector lenders, bank credit up 3.4% in December quarter

Bank credit grew 3.4 per cent on a sequential basis in the December 2017 quarter, helped by better performance by private sector banks and an uptick in industrial credit after two successive quarters of declines, show the Reserve Bank data.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2t6bM1j

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CEO Chanda Kochhar would be on leave during probe in Videocon loan matter, confirms ICICI Bank; Sandeep Bakhshi appointed COO

India's ICICI Bank Ltd said on Monday Chief Executive Chanda Kochhar would go on leave until the completion of an inquiry over an alleged conflict of interest, and named Sandeep Bakhshi, the head of its life insurance unit, as chief operating officer (COO) of the bank.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ynEqA6

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What does NBFC future hold? High borrowing cost, narrowing funding avenues, warns ICRA

After a successful year, the non-banking financial companies (NBFCs) are staring at high borrowing cost and narrowing funding avenues, a report has warned.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2t8fQ0X

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Not an A-lister? Credit just dried up for you

Firms rated below A may find it harder to source loans from the market

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Bakhshi is ICICI Bank COO; Kochhar stays, goes on leave

CEO will stay away till bank’s internal probe is complete

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Banks Board Bureau recommends 22 GMs to be elevated as EDs

KR SrivatsBanks Board Bureau (BBB), which is now headed by former DoPT Secretary BP Sharma, has recommended 22 General Managers of various public sec

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Kochhar on leave till inquiry ends; Bakhshi appointed COO of ICICI Bank

"In line with the highest levels of governance and corporate standards, Chanda Kochhar has decided to go on leave till the completion of the inquiry as announced on May 30, 2018. The board has noted and accepted this. During her period of leave, the COO (Bakhshi) will report to the Board," the bank stated.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2M3ckMl

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Piyush Goyal to meet chief executives of PSBs today

Our Bureau Interim Finance Minister Piyush Goyal will meet chief executives of various public sector banks (PSBs) here on Tuesday.Bank chiefs are exp

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Global re-insurers Amlin, Markel International enter Indian market

To provide cover to Indian ships that ply on local routes

from Business Line - Money & Banking https://ift.tt/2t6M7W6

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ICICI Bank appoints Sandeep Bakhshi as COO; Kochhar to remain on leave

ICICI Bank today announced the appointment of Sandeep Bakhshi as Chief Operating Officer and said CEO Chanda Kochhar would be on leave till completi

from Business Line - Money & Banking https://ift.tt/2M2k6pU

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Insurer Max Bupa charts outfour areas for healthy growth

G BalachandarStandalone health insurance company Max Bupa said it would concentrate on four key areas to sustain a strong double-growth , even as the

from Business Line - Money & Banking https://ift.tt/2JMAxda

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Pressure mounts on rupee...

... as dollar strengthens on the back of weak euro

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Led by private sector lenders, bank credit up 3.4% in Dec quarter

At the end of the December quarter, bank credit stood at Rs 80.62 trillion compared to Rs 77.95 trillion in the September 2017 quarter, as per the RBI data.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2I0AFjl

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Chanda Kochhar to go on leave till completion of enquiry: ICICI Bank board

The bank has appointed Sandeep Bakshi of ICICI Prudential as its interim Chief Operating officer, the board decided. Meanwhile, Chanda kochhar will continue to be the CEO of the bank.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2ylI8dl

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ED files fresh charge sheet against Vijay Mallya, prepares for fugitive tag

The Enforcement Directorate (ED) today filed a fresh charge sheet against embattled liquor baron Vijay Mallya, two companies linked to him and other

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Piyush Goyal to meet heads of 13 PSBs tomorrow

Finance Minister Piyush Goyal will meet heads of 13 public sectors banks (PSBs) tomorrow to resolve various issues concerning them.According to sour

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ICICI Bank board meet underway on Chanda Kochhar fate, Srikrishna panel

Board members of ICICI Bank are meeting today to decide on the appointment and the scope of the BN Srikrishna panel to look into the allegations of conflicts of interest against chief executive Chanda Kochhar, say sources.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2t3HU5o

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Indians face 25% higher risks to financial fraud; these sectors are worst hit

With Indians becoming more digitally active, the risk of frauds has increased with around one in four customers becoming victims to online financial deceit, says a report.

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Yes Bank gets Sebi nod for custodian of securities business

Yes Bank today said it has received approval from market regulator Securities and Exchange Board of India (Sebi) for acting as custodian of securities.

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NBFCs face higher borrowing costs, narrower funding options in FY19

Banks’ funding to NBFCs increased 27% during FY2018, while the banking system credit growth remained muted at 8% for the period.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2LYl5r4

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Indians face 25% higher risks to financial fraud: Report

In a report, global financial information company, Experian says 24 per cent of Indians have directly experienced frauds while transacting online, and sectors like telco's (57 per cent), banks (54 per cent) and retailers (46 per cent) are the worst victims.

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Indians face 25% higher risks to financial fraud: Report

Electronics and travel marketers are positively building consumer data and driving transactions, however, these segments are also more prone to online frauds.

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ICICI Bank board meet underway to decide on Justice BN Srikrishna appointment

‘Discussions on Kochhar's leave and a possible rejig in top management could also take place’

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AU Small Finance Bank to raise ₹ 1,000 crore from Temasek

AU Small Finance Bank will raise ₹1,000 crore from Temasek, a global investment company headquartered in Singapore.According to a company statement,

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ICICI Bank board meets to decide Kochhar's fate

The bank's board is discussing a reshuffle of its top management that may see its life insurance venture’s CEO Sandeep Bakhshi becoming interim chief.

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IRDAI to review norms on insurance marketing firms

The Insurance Regulatory and Development Authority of India (IRDAI) has formed a panel to review the regulations pertaining to insurance marketing f

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Delay in resolving insolvency cases has cost banks ₹25,000 cr

That’s the interest till date on ₹2-lakh crore of loans that the top 10 defaulters owe lenders

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Government panel selects 22 general managers for ED post at PSU Banks, four from PNB

The newly formed panel has selected four general managers (GM) of Punjab National Bank and three from Vijaya Bank.

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Banks Board Bureau recommends 22 executive promotions at PSBs

In April, the government appointed former Union Personnel Secretary Bhanu Pratap Sharma as the BBB Chairman, replacing first chairman Vinod Rai on completion of the latter's two-year term.

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Top jobs in PSU banks: BBB recommends these 22 GMs for elevation as executive directors

Banks Board Bureau (BBB), the advisory body formed by the government for selection of candidates for top level board appointment, has recommended 22 general managers to be elevated as executive directors at the various public sector banks.

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BBB recommends 22 GMs for elevation as executive directors at PSU banks

Banks Board Bureau said the panel have recommended to the Govt. of India 22 general managers for elevation as executive directors in public sector banks.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2MzE9x5

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Almost 1 million people 'testing' WhatsApp payments service in India

Almost one million people in India are "testing" WhatsApp's payments service, and the company is working with the Indian government, NPCI and multiple banks.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2MzwIFR

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MobiKwik invests Rs 2 cr in Pivotchain Solutions

 MobiKwik, a full stack fintech platform, has invested Rs 2 crore in Pune-based data science company, Pivotchain Solutions.This is the first-ever inve

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Hope to recover Rs 2,000 cr from NPA resolution in FY19, says IFCI

Saddled with bad loans, the country's oldest financial institution IFCI expects to recover about Rs 2,000 crore from the resolution of non-performing assets (NPAs) during the current fiscal.

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