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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
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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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‘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
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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
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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
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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
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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
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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
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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
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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
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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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Aegon Life launches new digital only insurance product POS Grip

Aegon Life insurance has announced the launch of their new digital only insurance product POS Grip, a guaranteed return insurance plan.Highlighting th

from Business Line - Money & Banking http://bit.ly/2Q4iJbR
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Premium of non-life insurers rises 27%

The total premium collected by non-life insurance companies rose 26.5 per cent to Rs 12,551.26 crore in November 2018, according to IRDAI data.The 33

from Business Line - Money & Banking http://bit.ly/2T9vNi3
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Markets rebound after steep fall, Nifty ends above 10,700

On BSE, shares of Bharti Airtel, HDFC twins (HDFC and HDFC group), L&T, Bajaj Auto and Kotak Mahindra Bank led the pack, gaining as much as 3.95 per cent. On the NSE platform, except for Nifty IT and Pharma, all other sub-indices finished in green with Nifty Media climbing the most, up 2.12 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2QNxeWy
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BoB shareholders to meet next month to consider capital raise under ESPS

Shareholders of Bank of Baroda will meet next month to consider issuing up to 10 crore new shares under the Employee Share Purchase Scheme (ESPS).An

from Business Line - Money & Banking http://bit.ly/2Cz0NlT
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To check fraud, CVC starts examining audit reports of state-run banks, insurance companies

Chief vigilance officers act as a distant arm of the CVC to check corruption and other fraudulent activities in an organisation.

from Banking/Finance-Industry-Economic Times http://bit.ly/2T97h0r
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Banking services impacted on Wednesday due to strike

Operations at branches of public sector banks across the country were impacted on Wednesday due to a strike by unions against the proposed merger of Vijaya Bank and Dena Bank with Bank of Baroda (BoB). The strike has been called by the United Forum of Bank Unions.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2Q2h06B
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Banking services impacted Wednesday due to strike

According to AIBEA General Secretary C H Vekatachalam, the strike is effective across the country and employees are fighting for a right cause.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Rf2fSN
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Year of Exits: Borrowers left as loans went kaput; CEOs forced to leave and RBI chief quits too

First, loans went kaput and borrowers left the country after defaulting on payments or committing frauds, then high-profile bankers were forced to leave and even the top central banker quit in the end

from Banking/Finance-Industry-Economic Times http://bit.ly/2EPXSrs
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P V Bharathi appointed Corporation Bank appoints MD & CEO

The Appointments Committee of the Cabinet (ACC) has approved the appointment of P V Bharathi as Managing Director & Chief Executive Officer of Cor

from Business Line - Money & Banking http://bit.ly/2PZz6q4
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Bank strike a total success: UFBU

The United Forum of Bank Unions (UFBU) on Wednesday said its one-day all-India bank strike on December 26 (today) was a "total success".As many as 1 l

from Business Line - Money & Banking http://bit.ly/2QQs78g
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Motor-insurance business drives growth of PolicyBazaar.com

Portal aims to sell 11 lakh motor policies this year

from Business Line - Money & Banking http://bit.ly/2BCjeEA
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Bank strike today: Here's all you need to know

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

from Banking/Finance-Industry-Economic Times http://bit.ly/2ENog4l
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Sensex cracks over 350 points; Nifty below 10,600

On the 30-share BSE index, all the stocks were trading in red with Yes Bank and Sun Pharma cracking the most, down as much as 3.51 per cent. On NSE, sub-indices Nifty Pharma and PSU Bank tracked major losses, sliding as much as 1.71 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2BGuvE9
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Banks on nationwide strike on Wednesday, services likely to be affected

Services of banks are likely to be affected on Wednesday due to a nationwide strike call given by the United Forum of Bank Unions (UFBU) to protest against bank mergers and pay revision.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2EJxYoy
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Default rate in small loans lowest: Study

In the absence of demand from large corporate borrowers and also concerns of the assets turning bad, lenders have banked on retail loans to boost growth.

from Banking/Finance-Industry-Economic Times http://bit.ly/2EPyO46
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From IL&FS to PSB mergers, the year gone by for India Inc

Valuations of NBFCs and housing finance companies corrected and price to book halved in the last quarter of the calendar year. S

from Banking/Finance-Industry-Economic Times http://bit.ly/2EOgMyX
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The exodus: Major exits banking sector saw in 2018

ICICI Bank CEO Chanda Kochhar bid goodbye in October to the bank, her second home for three decades, following a probe that did not end quickly enough, so that she could have continued.

from Banking/Finance-Industry-Economic Times http://bit.ly/2AhwX46
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Banks on nationwide strike on Wednesday, services likely to be affected

Services of banks are likely to be affected on Wednesday due to a nationwide strike call given by the United Forum of Bank Unions (UFBU) to protest against bank mergers and pay revision.

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

Are banks closed tomorrow? No, but here’s why banking services may get disrupted

Today was a national bank holiday for Christmas. However, tomorrow, on December 26, banking services may get disrupted

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2SlkumS
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SBI charges among lowest in banking sector: MD

State Bank of India (SBI) Managing Director P K Gupta said that the charges for various services offered by the bank are among the lowest in the industry.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2AeFBAe
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Yes Bank to use data analytics to offer right mix of products

With an increasing focus on retail customers, Yes Bank is now churning data to understand customer behaviour and offer a right mix of products based on a predictability model, a senior official said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2SkM7fI
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Tuesday, December 25, 2018

Are banks closed tomorrow? No, but here’s why banking services may get disrupted

Today was a national bank holiday for Christmas. However, tomorrow, on December 26, banking services may get disrupted

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

SBI charges among lowest in banking sector: MD

State Bank of India (SBI) Managing Director P K Gupta said that the charges for various services offered by the bank are among the lowest in the industry.

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

Yes Bank to use data analytics to offer right mix of products

With an increasing focus on retail customers, Yes Bank is now churning data to understand customer behaviour and offer a right mix of products based on a predictability model, a senior official said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2SkM7fI
Read more »

SBI charges among lowest in banking sector: MD

State Bank of India (SBI) Managing Director P K Gupta said that the charges for various services offered by the bank are among the lowest in the industry.

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

Yes Bank to use data analytics to offer right mix of products

With an increasing focus on retail customers, Yes Bank is now churning data to understand customer behaviour and offer a right mix of products based on a predictability model, a senior official said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2SkM7fI
Read more »

More ATMs may disappear as they are sucking cash out of banks

Earning less than what they spend on ATMs, banks want an increase in interchange fee to stay afloat

from Business Line - Money & Banking http://bit.ly/2RhZekB
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Unsecured loans delinquency contained: Cibil Study

The number of credit card accounts increased by nearly 32% in the last year to 36.9 million in CYQ3 2018.

from Banking/Finance-Industry-Economic Times http://bit.ly/2LAfGaP
Read more »

Are banks closed tomorrow? No, but here’s why banking services may get disrupted

Today was a national bank holiday for Christmas. However, tomorrow, on December 26, banking services may get disrupted

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

SBI charges among lowest in banking sector: MD

State Bank of India (SBI) Managing Director P K Gupta said that the charges for various services offered by the bank are among the lowest in the industry.

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

Yes Bank to use data analytics to offer right mix of products

With an increasing focus on retail customers, Yes Bank is now churning data to understand customer behaviour and offer a right mix of products based on a predictability model, a senior official said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2SkM7fI
Read more »

Bank strike on Wednesday, services to be affected

This will be the second bank strike in less than a week.

from Banking/Finance-Industry-Economic Times http://bit.ly/2SiCvlN
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Bank strike on Wednesday, services to be affected

Last Friday (December 21), an officers' union of state-run banks observed a day-long strike to protest against the merger and also demanded immediate settlement of wage negotiations.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2EMbe7b
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SBI charges among lowest in banking sector: MD

Various services offered by the bank, including ATM transaction and cash deposits, come at a cost, but the charges have been kept low in the larger interest of customers, Gupta told PTI.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2V7QxIO
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Bank employees to go on strike tomorrow

The strike call by unions is to protest against the proposed amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda

from Business Line - Money & Banking http://bit.ly/2EKKKmA
Read more »

SBI charges among lowest in banking sector: MD

Various services offered by the bank, including ATM transaction and cash deposits, come at a cost, but the charges have been kept low in the larger interest of customers.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Q16zAz
Read more »

Yes Bank to use data analytics to offer right mix of products

With an increasing focus on retail customers, Yes Bank is now churning data to understand customer behaviour and offer a right mix of products based

from Business Line - Money & Banking http://bit.ly/2LyDKuu
Read more »

SBI charges among lowest in banking sector: MD

To promote digital transactions, the bank offers reward points to its customers

from Business Line - Money & Banking http://bit.ly/2LxdlgB
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Yes Bank to use data analytics to offer right mix of products

The bank has already diversified into retail segment and now harnessing data analytics to come up with models that help understand customer behaviour.

from Banking/Finance-Industry-Economic Times http://bit.ly/2CyAFri
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Yes Bank to use data analytics to offer new products

The bank has already diversified into retail segment and now harnessing data analytics to come up with models that help understand customer behaviour, Yes Bank, Business Analytics Head, Rajat Kanwar Gupta said.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2T7kFSI
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