Lack of real-time data responsible for crisis in shadow banking sector: Economic Affairs Secretary

The NBFC sector is going through a crisis, particularly related to liquidity, following the liquidity crisis in NBFC major IL&FS since August last year.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Qq3wC1

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Bank services to be hit as employees’ unions call for two-day strike

The All India Bank Employees Association (AIBEA) and Bank Employees Federation of India has informed the Indian Banks' Association (IBA) of the two-day nationwide strike on January 8-9, 2019.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2R8zesT

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Vijay Mallya in trouble: Ex-Kingfisher boss declared ‘fugitive economic offender’

In a major setback for embattled businessman Vijay Mallya, he has been declared ‘fugitive economic offender’.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Tsz2kE

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Government amalgamates three regional rural banks

The government has amalgamated three Regional Rural Banks -- Punjab Gramin Bank, Malwa Gramin Bank and Sutlej Gramin Bank -- into a single RRB with effect from January 1.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2SCHj5z

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Lack of real-time data responsible for crisis in shadow banking sector: Economic Affairs Secretary

The NBFC sector is going through a crisis, particularly related to liquidity, following the liquidity crisis in NBFC major IL&FS since August last year.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Qq3wC1

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Bank services to be hit as employees’ unions call for two-day strike

The All India Bank Employees Association (AIBEA) and Bank Employees Federation of India has informed the Indian Banks' Association (IBA) of the two-day nationwide strike on January 8-9, 2019.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2R8zesT

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Bank services to be hit as employees’ unions call for two-day strike

The All India Bank Employees Association (AIBEA) and Bank Employees Federation of India has informed the Indian Banks' Association (IBA) of the two-day nationwide strike on January 8-9, 2019.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2R8zesT

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Vijay Mallya in trouble: Ex-Kingfisher boss declared ‘fugitive economic offender’

In a major setback for embattled businessman Vijay Mallya, he has been declared ‘fugitive economic offender’.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Tsz2kE

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Government amalgamates three regional rural banks

The government has amalgamated three Regional Rural Banks -- Punjab Gramin Bank, Malwa Gramin Bank and Sutlej Gramin Bank -- into a single RRB with effect from January 1.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2SCHj5z

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Banking services may be hit as bank unions call for strike on January 8-9

AIBEA and Bank Employees Federation of India has informed the Indian Banks' Association of the two-day nationwide strike on January 8-9, 2019.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Rf2RJ7

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Suresh Prabhu to meet banking, financial secretaries next week to resolve credit supply issues to exporters

Suresh Prabhu, who also handles the aviation ministry, also expressed the hope to get Cabinet approval soon for the new industrial policy finalised by his ministry recently.

from Banking/Finance-Industry-Economic Times http://bit.ly/2TuGewC

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Two bank unions call for two-day strike on January 8-9

The strike has been called against the alleged anti-worker policy

from Business Line - Money & Banking http://bit.ly/2TsCsnu

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Centre amalgamates three regional rural banks

This move is said to be in the interest of the banks and the areas served by them

from Business Line - Money & Banking http://bit.ly/2CQtCul

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Jet Airways, bankers to meet airline's vendors, lessors to discuss debt plan

The airline has scheduled a meeting on Jan 8 with its vendors and lessors, many of whom are getting increasingly concerned over non-payment of dues, and officials from State Bank of India (SBI) to discuss the debt restructuring plan, the first source with direct knowledge said.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2CQw83P

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Hit by NPAs and RBI action, PSBs lose ground to private sector peers

The double whammy of Asset Quality Review (AQR) and Prompt Corrective Action (PCA) is having a telling impact on the public sector banks (PSBs). The

from Business Line - Money & Banking http://bit.ly/2RbGiVB

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Unauthorised transactions: RBI says PPI users will not lose money if reported within 4 days

Our BureauIn what could boost trust among users while making a transaction through instruments such as a a mobile wallet, the Reserve Bank of India (

from Business Line - Money & Banking http://bit.ly/2BXZH1K

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No case of pension, gratuity fund diversion at PNB: Jaitley

PNB said adequate funds for pension and gratuity are maintained as per the actuarial valuation report

from Business Line - Money & Banking http://bit.ly/2R8hmhv

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Call to abandon move to merge Vijaya Bank with BoB and Dena

“Amalgamation of Vijaya Bank with Bank of Baroda and Dena Bank will hurt the sentiments of the people of Karnataka,” said Ivan D’Souza, Member, Karna

from Business Line - Money & Banking http://bit.ly/2R9z1pj

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AGS Transact Tech set to launch QR-based cardless withdrawals at white-label ATMs

Service to go live on approval from NPCI, says CMD

from Business Line - Money & Banking http://bit.ly/2C0MS6F

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IndiaLends to roll out consumer loans for e-commerce purchases

IndiaLends aspires to become a one-stop-shop for consumer credit needs in the coming days

from Business Line - Money & Banking http://bit.ly/2AxKq7R

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Share swap good deal for shareholders of Dena, Vijaya and BoB, say experts

Criticism based on ‘narrow and short-term interpretation of the swap ratio’

from Business Line - Money & Banking http://bit.ly/2TrONbO

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No loss of jobs from PSBs merger: Jaitley

Assurance comes after Cabinet nod for merger of Vijaya Bank, Dena Bank with BoB

from Business Line - Money & Banking http://bit.ly/2F7Dcup

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Steep rise in bad loans in Education sector

The Lok Sabha was informed by the government that bad loans of PSBs in education sector were at 5.70% in March 2015.

from Banking/Finance-Industry-Economic Times http://bit.ly/2AoI2An

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Flashback 2018: NBFCs stay afloat amid support from regulators

These persistent and timely measures by all concerned stakeholders have provided a great impetus to the financial services sector.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2SzRkk4

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Education loan defaults rise! Here’s how much of education loans by PSU banks turned bad in FY18

Nearly 9 per cent of the education loans extended by public sector banks (PSBs) were categorised as non-performing assets in the last financial year, according to the government.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2SzRhEU

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Rising bank frauds: Modi govt working with RBI to check fraud cases below Rs 1 lakh transactions

According to the recent data by the Reserve Bank of India, financial frauds rose as much as 72% in the financial year 2017-18 as the fraudsters looted a whopping Rs 41,167.7 crore

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2s83YuZ

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No case of pension, gratuity fund diversion at PNB, says Arun Jaitley

Finance Minister Arun Jaitley Friday said Punjab National Bank (PNB) did not engage in any misappropriation of pension and gratuity funds in the past and no amount was taken from the trusts' account.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2LS5Xwk

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PSU bank employees won’t lose jobs due to merger, says Arun Jaitley

Finance Minister Arun Jaitley on Friday said in Lok Sabha that there would be no loss of jobs due to merger of public sector banks.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2LPZoKS

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Nearly 9 per cent of education loans by PSBs turned bad in FY'18

"As per information provided by Indian Banks' Association (IBA), NPAs of PSBs increased from 7.29 per cent as on March 31, 2016 to 8.97 per cent as on March 31, 2018," Shiv Pratap Shukla said

from Banking/Finance-Industry-Economic Times http://bit.ly/2Axj0Po

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Nearly 9% of education loans by PSBs turned bad in FY’18

The banks received repayment of education loans worth Rs 13,766.82 crore in 2017-18

from Business Line - Money & Banking http://bit.ly/2LPWO7L

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ICICI Bank, Small Business FinCredit join hands to provide loans to MSMEs

It is the first-of-its-kind programme by a bank and an NBFC with the loans of up to Rs 1 crore is for a tenure of 15 years per customer.

from Business Line - Money & Banking http://bit.ly/2QjZew5

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Markets turn postive, Sensex ends 181 points higher; Nifty above 10,700

On the BSE index, Yes Bank, Vedanta, Tata Motors, Bharti Airtel, Tata Steel and State Bank of India (SBI) were among the major gainers with their stocks surging as much as 3.34 per cent. On NSE, except for Nifty IT, all other sub-indices ended in green with Nifty PSU Bank rising the most, up 2.32 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2RAYBD6

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No job losses due to merger of public sector banks: Finance Minister Arun Jaitley

Earlier this week, the Cabinet approved merger of Vijaya Bank and Dena Bank with Bank of Baroda.

from Banking/Finance-Industry-Economic Times http://bit.ly/2CNkSoW

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No case of pension, gratuity fund diversion at PNB: FM Arun Jaitley

NB has informed that these funds are duly audited by the bank's statutory central auditors every year, Jaitley added.

from Banking/Finance-Industry-Economic Times http://bit.ly/2AwIHQf

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No job losses due to merger of public sector banks: FM

Replying to a supplementary question, Jaitley said the curve of non-performing assets would go down and that the Insolvency and Bankruptcy Code has helped in bringing back around Rs 3 lakh crore into the system

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

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No decision taken over Rs. 2000 note production: DEA Secretary

New Delhi, January 4The Secretary of the Department of Economic Affairs (DEA), Subhash Chandra Garg, said that no decision has been taken with regards

from Business Line - Money & Banking http://bit.ly/2AsmUcA

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Bank merger: Swap ratio favours BoB investors; factors in balance sheet weakness of Dena Bank

But uncertainty over integration and leadership issues remain key concerns

from Business Line - Money & Banking http://bit.ly/2Tm3FIu

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India's path to become fifth-biggest economy rife with pitfalls

The outcome of a general election due by May is a potential pitfall for a nation already battered by emerging market turmoil and a currency rout last year. Also, any attempts by the government to undermine the central bank’s freedom and raid its surplus capital may spook investors and carry damaging consequences for the economy.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2s4Q5hc

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Syndicate Bank MD draws up growth, clean-up plans

The government had decided to tap SBI with the object of bringing some of the best practices of the country’s largest bank into smaller nationalised banks.

from Banking/Finance-Industry-Economic Times http://bit.ly/2BYOv4X

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Sensex surges over 150 points; Nifty reclaims 10,700

On the BSE index, Tata Motors, Bharti Airtel, NTPC, Axis Bank, HDFC and Tata Steel were among the major gainers with their stocks rising as much as 3.07 per cent. On NSE, except for Nifty IT, all other sub-indices were trading in green with Nifty Auto leading the pack, up 1.03 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2s8Ajld

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Capital Adequacy Norms: RBI is ‘unrealistic’, says Moily panel; Congress, BJP on same page

Contrary to his party’s public posturing, the panel headed by the Congress leader on the same page with govt

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2LRzXse

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NBFCs, HFCs may see growth halve in 2nd half of FY19

A report by rating company Icra said that housing finance companies are likely to grow at 12-14% in the second half of the financial year.

from Banking/Finance-Industry-Economic Times http://bit.ly/2RapMoE

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With another failing airline, RBI is on test under Shaktikanta Das

Jet Airways, the second biggest domestic carrier, has defaulted. A few years ago, its default wouldn’t be even public.

from Banking/Finance-Industry-Economic Times http://bit.ly/2AsJTUW

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Tax burden leave business correspondents of banks in a lurch

Bankers said the originating bank does not have information on whether the destination account is a Jan Dhan account since in most cases the two entities are separate.

from Banking/Finance-Industry-Economic Times http://bit.ly/2R7eem7

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Banks petition RBI to relax bad loan norms for IL&FS

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2QniNU0

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Government, RBI in talks over merger of three PSU banks

The Union Cabinet approved the amalgamation of Dena Bank and Vijaya Bank with Bank of Baroda on Wednesday.

from Banking/Finance-Industry-Economic Times http://bit.ly/2RbUPAJ

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Slowdown in NBFC sector likely to continue for a few more quarters

The slowdown in the non-banking financial sector is likely to continue for the next couple of quarters. However, the sector may witness growth after

from Business Line - Money & Banking http://bit.ly/2VliLQi

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Union Bank of India approves ESPS

Union Bank of India’s Stakeholders’ Relationship Committee, on Thursday, approved an employee share purchase scheme (ESPS) to raise equity capital agg

from Business Line - Money & Banking http://bit.ly/2QkHGzD

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Credit growth of HFCs likely to shrink on liquidity crisis, tough competition: ICRA

This will lead to an increase in bad loans in the medium term

from Business Line - Money & Banking http://bit.ly/2VovqSC

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Parliamentary panel asks RBI to ease banks’ capital requirements

An Indian Parliamentary panel, on Thursday, asked the RBI to ease its rules on capital requirements for banks so that they can increase lending.“Such

from Business Line - Money & Banking http://bit.ly/2CMfdiF

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House panel suggests time-bound settlement for victims of unregulated deposit schemes

Asks SEBI to play a pro-active role in regulating Collective Investment Schemes

from Business Line - Money & Banking http://bit.ly/2F6ivin

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Mobikwik reports doubling of revenue, but losses keep piling up

The company also made disclosures that its co-founders Singh and Upasana Taku earned Rs 2.15 crore each during the reported year.

from Banking/Finance-Industry-Economic Times http://bit.ly/2F24eUZ

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RBI scales down printing of Rs 2000 note to minimum

This high value currency accounts for 37.3 per cent of total currency in circulation

from Business Line - Money & Banking http://bit.ly/2Vqs3dM

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Par panel asks RBI to ease bank capital requirements

"Such stringent norms stipulated by the RBI (Reserve Bank of India) for our banks ... is unrealistic and unwarranted," said a report tabled in parliament by the parliamentary committee on finance.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2Vo5czE

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Banks likely to recover bad loans worth Rs 70,000 crore by March-end: Arun Jaitley

Some of the big cases such as Bhushan Power and Steel Ltd and Essar Steel India Ltd are in advanced stages of resolution, and are likely to be resolved in this financial year, Jaitley said in a blog post on Facebook.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2R4uDrF

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Resolution under IBC: Jaitley expects realisation of ₹ 70,000 cr by March-end

In the last two years, creditors have realised around Rs 80,000 crore through this process

from Business Line - Money & Banking http://bit.ly/2R8sr2g

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Mahindra Finance to raise around Rs 3,500 cr via NCDs

Mahindra & Mahindra Financial Services is planning to raise up to Rs 3,500 crore through a non-convertible debenture issue of various maturities.

from Business Line - Money & Banking http://bit.ly/2LLIjSt

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Parliamentary panel asks RBI to review capital needs for banks

A parliamentary panel asked the central bank to review its rules on capital requirement for banks beyond the limits under the global Basel III capital regulations, which could improve their lending ability.

from Banking/Finance-Industry-Economic Times http://bit.ly/2CNQiM1

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Tata Capital Housing Finance ties up with Saraswat Co-operative Bank

Alliance to give customers of Saraswat Co-operative Bank access to an array of home loan products

from Business Line - Money & Banking http://bit.ly/2CLyCjL

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Digit Insurance launches pet insurance scheme

Digit Insurance, a new age digital general insurance start-up, has launched a pet insurance product in the Indian market in partnership with Vetina,

from Business Line - Money & Banking http://bit.ly/2F6Rrzt

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Boost for banks with big loans against property

RBI has allowed the scheme for restructuring of stressed assets with credit facilities not exceeding Rs 25 crore as on January 1.

from Banking/Finance-Industry-Economic Times http://bit.ly/2F3lYzg

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Analyst Corner: Public Sector Banks to benefit from RBI nod to rejig MSME loans

Lenders usually step back lending when the early warning indicators suggest rising trends of deterioration.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Ati8LQ

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IBA officials to meet RBI governor Shaktikanta Das on January 17

Replacing them is meaningless and there is likely to be a request for easing guidelines on the matter,” he added.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2StTp0F

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You’ll soon get to make card payments through m-wallets

Mobile wallet cos get a briefing on interoperability from major card networks in the country

from Banking/Finance-Industry-Economic Times http://bit.ly/2F1vqCm

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Syndicate Bank to boost lending, operational efficiency

Signs MoUs with SREI Equipment Finance, Atyati Tech

from Business Line - Money & Banking http://bit.ly/2Au6EaP

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Merger of Dena, Vijaya Bank with BoB gets Cabinet nod

Banks’ board finalises share swap ratio; Scheme to come into effect on April 1

from Business Line - Money & Banking http://bit.ly/2F1K11q

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ICRA sees MSMEs rushing to opt for loan-rejig option allowed by RBI

RBI move will significantly mitigate the cash-crunch woes of MSMEs and boost manufacturing activity, says Assocham

from Business Line - Money & Banking http://bit.ly/2s67XYR

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Bank branch opening declines in Tier-6 centres

 Are rural centres with a population below 5,000 not attractive for opening new bank branches in the country? The number of branches opened by schedul

from Business Line - Money & Banking http://bit.ly/2LO5tY4

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Info soon of a/c holders in Swiss banks

India will start receiving from Switzerland this year information relating to financial accounts held by Indians in Swiss banks, government said on W

from Business Line - Money & Banking http://bit.ly/2QixmrS

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You can now sign up for Paytm Payments Bank! RBI gives nod to resume KYC process, add new customers

In June last year, the Reserve Bank of India directed Paytm Payments Bank to stop opening new accounts and e-wallets after it found that the company violated KYC norms.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2F5PIdI

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Cabinet approves the merger of Vijaya Bank & Dena Bank with Bank of Baroda

Dena Bank's shareholders will receive 110 equity shares of BoB of face value Rs 2 for every 1,000 shares they held.

from Banking/Finance-Industry-Economic Times http://bit.ly/2R0JYJD

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India to get information on account holders in Swiss banks from 2019: Govt

Minister of state for external affairs V K Singh, replying to a question in the Lok Sabha, said such information may include details about persons allegedly involved in corruption. Switzerland has been long perceived as one of the safest havens for illicit wealth allegedly stashed abroad by some Indians.

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

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Competition panel rejects complaint against Indiabulls Housing Finance

The complainant alleged that the HFC of arbitrarily increasing the interest rate from 16 per cent to 22.75 per cent

from Business Line - Money & Banking http://bit.ly/2F0eYCa

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Cabinet approves merger of Dena, Vijaya Bank with Bank of Baroda

The Bank of Baroda (BoB) also finalised the share swap ratio for merger of Vijaya Bank and Dena Bank with itself. As per the scheme of amalgamation, shareholders of Vijaya Bank will get 402 equity shares of BoB for every 1,000 shares held.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2RsWW2f

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BoB finalises share swap ratio for merger of Vijaya Bank, Dena Bank

Bank of Baroda (BoB) on Wednesday finalised the share swap ratio for merger of Vijaya Bank and Dena Bank with itself. As per the Scheme of Amalgamati

from Business Line - Money & Banking http://bit.ly/2AssBac

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PNB Housing Finance raises ₹ 1,853 cr via ECB

To utilise this fund for normal on-lending operations

from Business Line - Money & Banking http://bit.ly/2SxMu6G

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Watch out, cyber fraud cases in banks are spiking

Spike in cyber frauds is bigger than most other types of bank frauds. A total of 5,917 bank frauds were reported in 2017-18.

from Banking/Finance-Industry-Economic Times http://bit.ly/2LIXHic

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RBI Governor to meet MSME, NBFC representatives next week

Reserve Bank Governor Shaktikanta Das on Wednesday said he will meet representatives of MSMEs and non-banking financial companies (NBFC) next week.

from Business Line - Money & Banking http://bit.ly/2F2uH4r

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Equitas Small Finance Bank revises interest rates

City-based Equitas Small Finance Bank on Wednesday revised the interest rates on its savings account deposits with immediate effect.Under the revised

from Business Line - Money & Banking http://bit.ly/2F13MFu

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View: A bad loan farce gets another rerun in India

Small business owners – as well as distressed farmers – have clout only before elections; billionaires wield their power indefinitely.

from Banking/Finance-Industry-Economic Times http://bit.ly/2QcOwr7

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RBL Bank appoints Pankaj Sharma as its chief operations officer

Sharma did his graduation in business studies from Delhi University and post-graduation from Symbiosis, Pune.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GM67GO

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Nimble private insurers chip away at LIC’s lead

LIC’s market share by way of adjusted premium equivalent has fallen from 53 per cent in FY16 to 48 per cent in the second half of FY19.

from Banking/Finance-Industry-Economic Times http://bit.ly/2CIBCO2

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Muthoot Pappachan Chits keen to expand across southern markets

Muthoot Pappachan Chits, part of the Muthoot Pappachan conglomerate, has streamlined its systems and processes and is ready to scale up beyond Kerala

from Business Line - Money & Banking http://bit.ly/2SBLXRy

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Reserve Bank of India surprises by reversing debt revamp stance

RBI will allow one-time restructuring of loans to micro, small and medium-sized companies that are in default.

from Banking/Finance-Industry-Economic Times http://bit.ly/2An8J8j

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Nearly 80% of FY19 credit growth comes in September-November

Much of the bank credit has gone towards personal loans and industry, with only the non-banking finance companies (NBFCs) showing a decline in bank loans.

from Banking/Finance-Industry-Economic Times http://bit.ly/2SBLtLe

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Jet Airways defaults on loan repayment to banks

The airline has been facing a severe cash crunch and has delayed payment of salaries to pilots, aircraft engineers and senior management. Jet is reportedly has held talks with some investors like Tata Group for picking up stake in it.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2SvW9uL

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Private banks are waking up to the call of heartland

According to RBI data for 2018, private sector banks expanded their branch network in rural areas by more than 27% and in small towns by almost 18.4%, compared with 0.5% growth rate seen among public sector lenders.

from Banking/Finance-Industry-Economic Times http://bit.ly/2R8bRQc

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Bad Loans: RBI plays catch-up on NPA forecasts, gets it wrong consistently

The December 2015-March 2016 period coincided with the RBI’s asset quality review (AQR), a system-wide exercise that led to improved recognition of bad loans and a massive spurt in slippages at banks.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2SxrixI

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Debt Recovery: Banks mull Guj genco offer to take over GVK Gautami

According to earlier media reports, GVK Group was in talks to sell two gas-based power projects with an installed capacity of 684 mw installed capacity to Andhra Pradesh power utilities so that it could settle its debt of around Rs 1,800 crore through an OTS --one time settlement.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2AkttxJ

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Bharti AXA Life delivers policy, renewal premium receipts via WhatsApp

Bharti AXA Life Insurance is a joint venture between Bharti Enterprises and French Insurance major AXA

from Business Line - Money & Banking http://bit.ly/2s6ARIx

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‘Urjit had been wanting to quit for past 6-7 mnths’

Former Reserve Bank of India (RBI) governor Urjit Patel stepped down due to personal reasons and had been telling the PM about his intention to quit for the past 6-7 months, Prime Minister Narendra Modi said on Tuesday.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2LIOTJ9

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Jet Airways defaults on debt payment to banks

The payment of interest and principal instalment was delayed "due to temporary cash flow mismatch" and the company is in talks with the consortium. The deadline for the payment was Dec. 31, 2018, Jet said in a statement.

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

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Complaints with bank ombudsman surge 25% in FY18

Of all the complaints received at the ombudsman's offices, 97% of them were resolved in 2017-18, up from 92% a year earlier.

from Banking/Finance-Industry-Economic Times http://bit.ly/2R5m7bO

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Payments banks see second straight year of losses

The operating profits of these banks also remained negative with a loss of Rs 522.1 crore for fiscal 2018, up from Rs 240.7 crore a year before.

from Banking/Finance-Industry-Economic Times http://bit.ly/2TpuX0N

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2019 may finally put an end to India's banking woes

Banks in India have not experienced a worse year in the past two decades than what it had encountered in the year that had just passed by.

from Banking/Finance-Industry-Economic Times http://bit.ly/2ApKuX4

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For NBFCs, 2019 may be the year of reckoning

NBFCs would like to focus on direct assignment to ensure that risk is not on their balance sheet but they are able to raise fee income to maintain return on equity.

from Banking/Finance-Industry-Economic Times http://bit.ly/2SvESlp

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Rising costs, manpower crisis hit banks’ ability to upgrade ATMs

2019 is going to be an “upgrade or replace” year for ATMs as banks clamour to meet the various regulatory mandates and deadlines

from Business Line - Money & Banking http://bit.ly/2SxIQd1

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Value of UPI transactions posts 10-fold rise in 2018

Transactions worth over ₹1 lakh crore were carried out in December alone

from Business Line - Money & Banking http://bit.ly/2AndrmI

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RBI for one-time restructuring of MSME loans

In a breather to the micro, small and medium enterprise (MSME) sector, the Reserve Bank of India has decided to permit one-time restructuring of exist

from Business Line - Money & Banking http://bit.ly/2SxIMtN

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‘Move to conduct employee survey at SBI to re-orient and transform the lender’

Will help re-orient and transform the bank, says employees’ association chief

from Business Line - Money & Banking http://bit.ly/2AoP3Ru

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‘Merger talks have neither dented customer sentiment nor employee morale’

Kolkata-based National Insurance Company (NIC), which is among the three general insurance companies that are likely to be merged into a single entity

from Business Line - Money & Banking http://bit.ly/2AovMjs

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RBI enforces Rs 14-crore penalty on 7 banks for flouting norms

Lenders failed to follow directions on fraud reporting, KYC and current account-opening norms, according to Financial Stability Report

from Business Line - Money & Banking http://bit.ly/2Srehpv

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RBI shelves plan to launch digital currency

It is aimed at looking into issues like black money, cyber-security threats and more

from Business Line - Money & Banking http://bit.ly/2AndkHO

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Fincare SFB eyes business of ₹5,500 crore by FY19-end

Fincare Small Finance Bank has chalked out its vision to achieve ₹10,000-crore assets under management (AUM), 5,000 banking outlets, and a customer b

from Business Line - Money & Banking http://bit.ly/2VpBR7R

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Govt appoints Hemant Bhargava interim chairman of LIC

Bhargava was instrumental in completing the design and setting up a separate microinsurance vertical

from Business Line - Money & Banking http://bit.ly/2F0bek8

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NBFCs still lost deep in the woods, says Uday Kotak

Kotak, who has been tasked to lead the efforts of saving the debt-ridden infra lender IL&FS, said we need to carefully watch the space going forward.

from Banking/Finance-Industry-Economic Times http://bit.ly/2s5vjhr

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In a first, NCLT allows government to reopen IL&FS books

For the first time, the government on December 21, 2018, had invoked the powers under Section 130 of the new Companies Act of 2013 to reopen the books of a company.

from Banking/Finance-Industry-Economic Times http://bit.ly/2LGktqY

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NBFCs still lost deep in the woods, says Kotak

Veteran banker Uday Kotak on Tuesday said even though non-bank lenders have received a breather since the crisis late last year, the sector is more “

from Business Line - Money & Banking http://bit.ly/2RlUMS0

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Karnataka Bank launches new app

Karnataka Bank Ltd has launched an integrated mobile banking application – ‘KBL MobilePlus’.Quoting Mahabaleshwara MS, Managing Director and Chief Exe

from Business Line - Money & Banking http://bit.ly/2GRaalf

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Karnataka Bank revises up one-year MCLR by 0.15 per cent

One-month and overnight MCLRs were also raised by 0.10 per cent each

from Business Line - Money & Banking http://bit.ly/2RnRJZE

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Maharashtra tops in home loans, accounts for 24% of national sales

Mumbai, Thane and Pune along with Bengaluru are leading markets for home loans across the country

from Business Line - Money & Banking http://bit.ly/2SsFcBe

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Middle-class to boost premium business

There is already a clear shift in demographics with a visible increase in double-income families.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GMjHKp

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Govt may take big banking decisions before 2019 polls

The year 2019 will, however, see a lot of front-ending of events in the private sector and also among state-owned lenders.

from Banking/Finance-Industry-Economic Times http://bit.ly/2EZg15m

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Bad loans will shrink in March: RBI

The Reserve Bank of India (RBI) has said that the ratio of bad loans has improved from last year and is expected to further decline in March 2019’s financial results. RBI governor Shaktikanta Das has, however, said that despite the improvement, the current levels of bad loans are still too high for comfort.

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

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New year cheer for banks, NPAs see first fall since 2015

Report projects first full-year fall in bad loans, says asset quality of banks has improved but profitability a worry.

from Banking/Finance-Industry-Economic Times http://bit.ly/2RrVcpV

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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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