IDFC Bank re-named IDFC First Bank

IDFC Bank and non-banking financial company Capital First had announced completion of their merger on December 18, creating a combined loan asset book of Rs 1.03 lakh crore for the merged entity.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Rl9MAe

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Syndicate Bank hopes to recover ₹1500 cr worth bad loans within 6 months

As on September 2018, the Bank had 12.9 per cent and 6.8 per cent gross as well as net NPAs respectively

from Business Line - Money & Banking http://bit.ly/2AGG7am

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Farm loan waivers not an effective means to address farm distress: ADB India head

There is a need to address agriculture sector distress…but economic principle-wise, farm loan waiver is not an effective means to address farm distress, said ADB India country director Kenichi Yokoyama.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CrJL8n

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Yes Bank appoints Brahm Dutt as non-executive part-time chairman

Brahm Dutt has been on the board of the bank since July 2013 as an independent director, and has contributed to almost all the sub-committees of the board over the past 5.5 years.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2D5CgFu

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Overregulation hampering growth of NBFCs: Assocham to RBI governor

Assocham met the RBI governor Shaktikanta Das to discuss the liquidity issue being faced by non-banking financial companies (NBFC) and housing finance companies (HFC).

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

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More International Banking Jobs in India ! Deutsche Bank to Outsource Jacksonville Jobs to Mumbai

Deutsche Bank AG was at the forefront as Wall Street began “nearshoring” staff to cheaper cities across the U.S. Now, the German lender is moving some of those jobs to India.

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

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Yes Bank appoints Brahm Dutt as non-executive part-time chairman

Dutt has been on the board of the bank since July 2013 as an independent director, and has contributed to almost all the sub-committees of the board over the past 5.5 years, it added.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Fqh4N1

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Yes Bank appoints Brahm Dutt as non-executive part-time chairman

Yes Bank, India’s fourth largest private sector bank, Saturday said it has appointed Brahm Dutt as non-executive part-time chairman to the board.“Th

from Business Line - Money & Banking http://bit.ly/2H5Ap7C

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Yes Bank appoints Brahm Dutt as non-executive part-time chairman

Dutt has been on the board of the bank since July 2013 as an independent director, and has contributed to almost all the sub-committees of the board over the past 5.5 years, it added.

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

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We intend to stick to micro financing: CS Ghosh, founder and CEO, Bandhan Bank

Ghosh said this was the first time they had lent in the infrastructure space. He also said the company would not do anything like this again and would stick to micro-financing.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2AK8HYv

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We intend to stick to micro financing: CS Ghosh, founder and CEO, Bandhan Bank

Ghosh said this was the first time they had lent in the infrastructure space. He also said the company would not do anything like this again and would stick to micro-financing.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2AK8HYv

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More and more Indian women are buying life insurance, suggests IRDAI study

Maharashtra, Bengal, UP Pradesh accounted for a third of new policies in FY18

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

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RBI slaps Rs 3 crore penalty on Citibank India

The bank has 35 branches in India and a network of 541 ATMs, according to the latest RBI data.

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

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Rajat Monga, foreign bank CEO in race to succeed Rana Kapoor at Yes Bank

The Reserve Bank of India has asked the private sector lender to find replacement of Kapoor, who will continue as the MD and CEO till January 31.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2M67Eq9

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NBFC sector: Rise in bad loans, higher lending rates may add more stress in 2019; key things to know

Even as NBFCs are trying to recover from the liquidity crunch mainly on account of default by IL&FS, a surge in bad debt amid higher lending rates may emerge as another challenge for them going ahead, a report by a global association said.

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

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Life insurance sector sees 28% jump in customer grievances in FY18: IRDAI

The number of customer complaints in the life insurance sector went up by 28 per cent in 2017-18, compared to the previous year. According to the annu

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

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Syndicate Bank to raise up to ₹500 cr via ESPS

Bank creates separate vertical to manage stressed assets of ₹5 crore and above

from Business Line - Money & Banking http://bit.ly/2SPdq2a

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SBI opens 100th Wealth Hub in Coimbatore

The 100th SBI Wealth Hub, and the second in Coimbatore, was inaugurated by PK Gupta, Managing Director (Retail and Digital Banking), SBI.With this, th

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

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New life premium mop-up inches up 2.41% in Dec

The industry collected Rs 1,41,584 crore as against Rs 1,38,253 crore last year.

from Banking/Finance-Industry-Economic Times http://bit.ly/2STX4p6

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‘RBI’s autonomy, independence at stake’

An estimated 20 crore organised and unorganised workers participated in the 48-hour trade union strike on Tuesday and Wednesday, according to two RBI

from Business Line - Money & Banking http://bit.ly/2TP4jPd

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With SBI blocking tiny accounts, social-security beneficiaries in a fix

State Bank of India is understood to have blocked the withdrawal of money from several tiny accounts in this region, which has put the economically w

from Business Line - Money & Banking http://bit.ly/2D5a4CF

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RBI slaps ₹3-cr penalty on Citibank

The Reserve Bank of India (RBI), on Friday, said it has imposed a ₹3-crore monetary penalty on Citibank NA India (the bank) for deficiencies in compli

from Business Line - Money & Banking http://bit.ly/2FrT0bK

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Alternate Mechanism: Unions file petition in Rajasthan HC against merger of PSBs

All India Bank Officers’ Association and Dena Bank Officers’ Union say it is against the statutory provisions of relevant banking laws

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

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RBI penalises Citigroup's India unit

The penalty was based on shortcomings in regulatory compliance and does not question the validity of any transaction the bank entered with its customers, RBI said.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Cg2W4R

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Yes Bank ties up with Kia Motors

It will also work towards developing exclusive digital banking solutions for Kia Motors in India

from Business Line - Money & Banking http://bit.ly/2D4bLjy

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ADB to scale up lending to $4.5 bn this year

Multilateral funding agency Asian Development Bank (ADB) on Friday said it will scale up its India funding to $4.5 billion (about Rs 31,500 crore) in

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

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Sensex ends nearly 100 points down, holds 36,000; Nifty below 10,800

On the BSE index, IndusInd Bank, Tata Motors, TCS, Yes Bank, L&T and Tata Steel were among the major losers with their stocks down as much as 3.26 per cent. On NSE, sub-indices Nifty Realty and PSU Bank were among the worst performing, down as much as 1.35 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2M5Byer

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ADB’s sovereign lending to India crosses $3 bn

Eyes $ 4 billion overall annual lending in next few years

from Business Line - Money & Banking http://bit.ly/2M5kyoC

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NCLAT suggests appointing a former Supreme Court judge for IL&FS asset sales

The new management of the IL&FS is considering assets sales to bail out the company from its financial mess and pay back to its lenders over Rs 90,000 crore.

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

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Karnataka Bank Q3 net up 60.7%

The Bank’s CEO said that the Q3 results are on the expected line

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

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RBI to eye Q3 results before easing lending curbs on some banks

Eleven PSBs will have to wait for about a month before knowing which of them will have lending curbs eased after a Reserve Bank of India (RBI) panel

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

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Paresh Sukthankar could be top contender for Yes Bank MD and CEO

Former Deputy Managing Director of HDFC Bank Paresh Sukthankar could be one of the top contenders for the post of new Managing Director and CEO of Yes

from Business Line - Money & Banking http://bit.ly/2AFJrm5

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Rajesh Sud pulls out of race for CEO's post at Yes Bank

Sud was reportedly in the reckoning, along with Yes Bank veteran Monga, to head the private sector lender.

from Banking/Finance-Industry-Economic Times http://bit.ly/2SKK5FW

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No indemnity, warranties for IL&FS assets

The IL&FS board, which the government reconstituted in October after defaults by the company, said any liability arising in future from the assets will have to be borne by the buyer.

from Banking/Finance-Industry-Economic Times http://bit.ly/2M2BXOE

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IL&FS urges Exim Bank to release funds to end Ethiopian hostage crisis

IL&FS has urged the Export-Import Bank of India (Exim Bank) to release funds to secure the release of four employees still held hostage in Et

from Business Line - Money & Banking http://bit.ly/2TI4nQB

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Waiving off farm loans is the worst thing to do: Lord Meghnad Desai

British economist and MP calls on tax payers to stand up against non-payment of loans

from Business Line - Money & Banking http://bit.ly/2H5KLVd

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Release Mudra funds for small and medium NBFCs: CEOs to RBI Guv

Banks raising interest rates a major pain point, say NBFC heads

from Business Line - Money & Banking http://bit.ly/2REp6Y9

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Health insurance segment posts growth of 20% for third time in a row: IRDAI

The health insurance segment has reported a growth of more than 20 per cent in premium collection for the third year in a row.In 2017-18, general an

from Business Line - Money & Banking http://bit.ly/2AHt8VX

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PSBs mull IPO-financing-type facility for employees to participate in ESPS

To ensure that their plan to raise money via employee share purchase scheme (ESPS) gets good response, public sector banks (PSBs) may come up with a

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

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RBI plans to extend implementation of last tranche of 0.625% CCB by a year

The Reserve Bank of India, on Thursday, notified extension of the transition period for implementing the last tranche of 0.625 per cent of risk-weight

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

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Syndicate Bank hints that loan waiver may challenge NPA reduction efforts

The bank, which is hoping to break even at the end of this fiscal year, has taken a series of measures to bring down NPA level.

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

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Net profits of life insurers rise to ₹8,512 cr in FY18

The net profit of life insurers increased 10.14 per cent at ₹8,512 crore in the year ended March 2018, compared to ₹7,728 crore in the previous year.

from Business Line - Money & Banking http://bit.ly/2M1ac90

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‘Tokenisation will reduce frauds, storage costs of payment firms’

Priyanka PaniNext time you make an online purchase, you may not be required to key in your card details or fear financial fraud while carrying out

from Business Line - Money & Banking http://bit.ly/2sfD6t8

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SEBI brings cybersecurity framework for mutual funds and AMCs

The new norms would be effective from April 1, 2019

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

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SBI inches closer to raise $1.4 billion via share sale; hires Kotak Mahindra Bank, others as bankers

The share sale will help bolster its capital buffers as it attempts to grow loans at a faster pace.

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

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Bandhan Bank Q3 results: Private lender’s profit rises 10%, asset quality worsens; key highlights

Bandhan Bank Q3 results: Bandhan Bank on Thursday posted a 10.4 per cent rise in profit in the quarter ended December on account of rise in interest income.

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

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PCI voice concerns over lack of representation in RBI’s digital payments committee

Welcoming the Reserve Bank of India’s move to set up a five-member committee to encourage digital payments, Payments Council of India’s (PCI) Chairman Vishwas Patel also voiced concern over lack of representation of PCI in the committee.

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

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Yes Bank submits shortlisted names for MD, CEO post to RBI

Lending major Yes Bank on Thursday submitted the names of the potential candidates for its Managing Director and Chief Executive post to the Reserve Bank of India (RBI).

from Banking/Finance-Industry-Economic Times http://bit.ly/2Ro2NXh

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RBL, NASSCOM sign MoU for credit solution to ICT MSMEs

The partnership will comprise key services like simplified assessment procedure and processing and competitive pricing

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

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Sensex ends 106 points lower on weak global cues

Mumbai, Jan 10 () Breaking its four-day rising spree, the BSE Sensex ended over 100 points lower Thursday on selling in banking shares amid negative cues from other Asian markets. After a volatile session, the 30-share index settled 106.41 points, or 0.29 per cent, down at 36,106.

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

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RBI accountable to government, says reserves panel chief Bimal Jalan

It is the first time that Jalan explicitly set out his view on the relationship between the govt and RBI.

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

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Bandhan Bank Q3 profit rises 10%, asset quality worsens

Bandhan Bank Ltd, which is set to buy mortgage provider Gruh Finance Ltd, posted a 10.4 per cent rise in third-quarter profit on Thursday, boosted by

from Business Line - Money & Banking http://bit.ly/2Fi5p2G

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Credit flow to exporters has nosedived by over 54%: EEPC India

EEPC India has said the RBI and the government need to ensure timely and less expensive credit for the exporters.

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

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SBI hits over 4-month high; may rise further

The shares of State Bank of India (SBI) gain as much as 0.72 per cent to their highest since September 3 and breaks above a resistance at Rs 305.5. Re

from Business Line - Money & Banking http://bit.ly/2VGsK2X

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View: Mutiny and surrender in India's banking elite

Ghosh founded Bandhan as a nonbank finance company, focusing on small-ticket advances to tiny businesses.

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

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Strict bank rules force changes in diamond trade practices

As per the latest rules by SBI, advance payments for procurement of rough diamonds will be permitted to only mining companies as per the list approved by the RBI and Gems & Jewellery Export Promotion Council.

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

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ICICI's Sandeep Bakhshi is clearing cobwebs as the bank CEO

Algorithms would get bigger than humans at ICICI retail, as it pushes the ‘insta’ of everything. It will eliminate paper and human intervention to the last level.

from Banking/Finance-Industry-Economic Times http://bit.ly/2AD2s8E

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Rana Kapoor's family eyes Burmans' stake in Aviva Life Insurance

If the Burmans get a good price, they are open to exiting the lossmaking venture entirely, thereby ending their 18-year-old association with the British insurer.

from Banking/Finance-Industry-Economic Times http://bit.ly/2FlKdI9

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Small banks to hire 5,000 more staff in 3 months

According to TeamLease, the jobs on offer include those in analytics, investor relations, operational risk, and branch management.

from Banking/Finance-Industry-Economic Times http://bit.ly/2SLAOO5

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RBI assures it’s ready to help NBFCs if needed

Deputy governor Viral Acharya explained surplus liquidity after the cash-ban in November 2016 as an aberration. The inflation-targeting central bank, in fact, now prefers to keep liquidity in slightly deficit mode.

from Banking/Finance-Industry-Economic Times http://bit.ly/2ACEv1k

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Amtek lenders seek to restart process for resolution, Liberty House cries foul

The lenders have also requested NCLT to allow them to “recommence" the process for inviting resolution plans and exclude the litigation period dedicated to consider the Liberty House plan from the 270-day period.

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

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IndusInd Bank Q3 net profit rises by 5% to Rs 985 crore

Total income of the IndusInd Bank increased to Rs 7,232.32 crore during the October-December 2018.

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

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IndusInd Bank Q3 net profit rises by 5% to Rs 985 crore

Total income of the IndusInd Bank increased to Rs 7,232.32 crore during the October-December 2018.

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

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Real concern among bank officials over ‘fake’ ₹500 notes

Industry insiders want the RBI to clarify on the genuineness of the currency

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

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Nabard pegs Bengal’s credit potential at ₹1,57,498 crore

The National Bank for Agriculture and Rural Development (Nabard) has estimated a credit potential of ₹1,57,498 crore for West Bengal under priority

from Business Line - Money & Banking http://bit.ly/2D0Jb2J

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Stake-sale talks impact premium growth, says IDBI Federal Life

Private sector IDBI Federal Life Insurance, which has been in the spotlight over a possible stake sale by at least one of its promoters, said the ta

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

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Bank of Baroda increasesminimum balance amount

Bank of Baroda has doubled the minimum quarterly average balance (QAB) that its ‘Baroda Savings Account’ customers maintain at the bank’s metro, urban

from Business Line - Money & Banking http://bit.ly/2SGtd3b

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IRCTC offers free travel insurance for air travellers

The insurance partners will be Bharti AXA General Insurance

from Business Line - Money & Banking http://bit.ly/2Rf6r5G

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Yes Bank shortlists candidates to replace MD & CEO Rana Kapoor

In the recent past, Yes Bank has seen a spate of resignations, including that of Chairman Ashok Chawla.

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

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YES Bank shortlists candidates to replace MD & CEO Rana Kapoor

YES Bank on Wednesday said it has shortlisted the names of potential candidates to succeed MD and CEO Rana Kapoor, who is to demit office by the mont

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

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Kotak General Insurance, Repco Home Finance ink pact

Private sector Kotak Mahindra General Insurance on Wednesday said it has signed an agreement with Repco Home Finance to deliver its insurance product

from Business Line - Money & Banking http://bit.ly/2Qyi7LV

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Mastercard ties up with payment solution co Mosambee to launch low-cost PoS machine

Mastercard and Mosambee, a payment solution company, have partnered to launch a low-cost point of sale (PoS) machine, SamosaPoS.Android-based SamosaPo

from Business Line - Money & Banking http://bit.ly/2Fm3eub

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IRCTC offers free travel insurance for air travellers

This facility will be available for passengers irrespective of the class of tickets and for both domestic and international flights.

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

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IndusInd Bank Q3 net profit rises by 5% to Rs 985 crore

Total income of the IndusInd Bank increased to Rs 7,232.32 crore during the October-December 2018.

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

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ESAF Small Finance Bank to open another 165 branches

The bank will also look at an IPO by June 2021

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

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PNB MetLife, ESAF Small Finance Bank enter into strategic partnership

ESAF SFB will leverage its outlets to offer PNB Metlife’s life insurance products

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

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Lanka’s Central Bank gets USD 400 mn swap from RBI

Recent political crisis had an adverse impact on Lanka's economy and subsequently rating agencies downgraded it's sovereign rating

from Business Line - Money & Banking http://bit.ly/2RDe5WR

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IndusInd Bank Q3 net profit rises by 5% to Rs 985 crore

Total income of the IndusInd Bank increased to Rs 7,232.32 crore during the October-December 2018.

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

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Asirvad Microfinance securitises MF portfolio

Currently, it serves to 1.6 million women members through its 930 branches across India

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

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Good and bad news for MSME sector! Even as credit growth improves, default rates rise, says report

Even as credit growth to MSME segment has improved, default rates among borrowers taking multiple loans from MSME lenders have risen, a report said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2M0OcLx

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Banking services partially impacted on second day of strike

Banking services were partially affected for the second day Wednesday, as a section of PSU bank employees came in support of the nation-wide strike call given by 10 central trade unions against the alleged anti-labour policies of the government.

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

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Sensex ends 232 points higher; Nifty above 10,850

Bharti Airtel, Axis Bank, ITC, Tata Motors, HDFC and IndusInd Bank were among the major gainers with their stocks rising as much as 3.39 per cent on BSE. On the NSE platform, sub-indices Nifty FMCG, Financial Service and Private Bank tracked major gains, up as much as 1.01 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2Cc2tAv

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IndusInd Bank Q3 net profit rises by 5% to Rs 985 cr

Private sector lender IndusInd Bank on Wednesday posted a marginal 5.2 per cent increase in net profit to Rs 985.03 crore for the third quarter ended

from Business Line - Money & Banking http://bit.ly/2M0wyHY

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Jana Small Finance Bank launches current account with auto-sweep facility

Jana Small Finance Bank has launched a current account with auto-sweep facility. The facility will enable the bank’s existing and potential new custom

from Business Line - Money & Banking http://bit.ly/2SPpdO5

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BankBazaar expands credit card for self employed

BankBazaar, an online marketplace for financial products, has announced the launch of business cards from Yes Bank on their platform. With this launch

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

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Bharat Bandh: SBI treasury branch at Thiruvananthapuram attacked, trains blocked

The branch manager said a group of people came to his cabin at around 10 am and threatened the staff, damaged a glass table top and a computer.

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

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IL&FS exposure: RBI asks banks to classify loans as NPAs

The RBI has declined a request by banks for a ‘standstill’ of six months on the classification of their exposure to the beleaguered IL&FS Group. T

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

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Axis Bank hits near 4-month high; chart suggests more upside

Axis Bank Ltd's shares gain as much as 2.59 per cent to Rs 667.75, their highest since September 10, 2018. The stock breaks above a resistance at Rs 6

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

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'Indian refiners pay for Iranian oil in rupees'

India, the world's third-biggest oil importer, wants to continue buying oil from Iran as it offers free shipping and an extended credit period, while Iran will use the rupee funds to mostly pay for imports from India. Washington gave a six-month waiver to eight countries, including India, allowing them to import some Iranian oil.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2H08TbH

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Banking services partially impacted on second day of strike

All India Bank Employees' Association (AIBEA) and Bank Employees' Federation of India (BEFI) have supported the strike, which has impacted banking operation where these two unions are strong.

from Banking/Finance-Industry-Economic Times http://bit.ly/2H0tgpi

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Banks uncertain about recovering their dues after FEO tag on Vijay Mallya

Lenders to Vijay Mallya seem uncertain about the fate of their dues after the beleaguered liquor baron was declared a fugitive economic offender (FEO) last week.

from Banking/Finance-Industry-Economic Times http://bit.ly/2AA1Bpy

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Sensex soars over 200 points; Nifty above 10,850

On the BSE index, Infosys, Axis Bank, Tata Motors, TCS, Maruti and Sun Pharma were among the biggest gainers with their stocks up as much as 2.10 per cent. On NSE, except for Nifty PSU Bank, all other sub-indices were trading in green with Nifty IT leading the pack, up 1.10 per cent.

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

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Syndicate Bank’s Rs 10,253-cr agri loan turned NPAs in last 5 fiscals: RTI

Agriculture loans worth Rs 10,253 crore disbursed by Syndicate Bank have turned into non-performing assets (NPAs) in the last five fiscal years until

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

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Rs 10,253-crore agriculture loan by Syndicate Bank turned NPAs in last 5 fiscals: RTI reply

Agriculture loans worth Rs 10,253 crore disbursed by Syndicate Bank have turned into non-performing assets (NPAs) in the last five fiscal years until March 2018, revealed an RTI query.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2AANi43

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WB projects India's FY19 GDP growth at 7.3%

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

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RBI cancels registration of 45 NBFCs; West Bengal tops list

The registration of 45 non-banking financial companies has been cancelled by the Reserve Bank of India, it said in two separate statements without specifying the reason.

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

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Infosys co-founder Nandan Nilekani to head RBI committee on digital payments; all you need to know

The committee will assess the current status of digital payments in financial inclusion and how the safety and security of digital payments can be improved.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2M08zby

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RBI cancels registration of 45 NBFCs; West Bengal tops list

The registration of 45 non-banking financial companies has been cancelled by the Reserve Bank of India, it said in two separate statements without specifying the reason.

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

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Infosys co-founder Nandan Nilekani to head RBI committee on digital payments; all you need to know

The committee will assess the current status of digital payments in financial inclusion and how the safety and security of digital payments can be improved.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2M08zby

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India to fully operationalise Chabahar port soon; Iranian bank branch to open in Mumbai, says Nitin Gadkari

The government has allowed an Iranian bank to open a branch in Mumbai, Union Minister Nitin Gadkari said Tuesday after a meeting with Iran's Foreign Minister Md Javad Zarif.

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

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Digital platform Invoicemart eyes ₹2,500-crore business

Registers strong growth in MSMEs, financiers and corporate buyers

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

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Edelweiss General Insurance’s new offering: 2 years cover for 1 year premium

Edelweiss General Insurance Company Limited has introduced an add-on, ‘Health 241’, for its health insurance policy. Literally meaning “two for one”

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

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YES Bank board to appoint new MD, CEO on January 9

Executive Director Rajat Monga seen as top contender for the post

from Business Line - Money & Banking http://bit.ly/2Rf79jj

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Gruh-Bandhan Bank merger will benefit both entities: HDFC chief

Upbeat about the merger of Gruh Finance with Bandhan Bank, Keki Mistry, Vice-Chairman, HDFC, said there is synergy between the two entities and the mo

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

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For secure online payments, RBI to permit card-tokenisation services

It is a process in which a unique token masks sensitive card details

from Business Line - Money & Banking http://bit.ly/2CXvr8S

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Aadhar Housing Finance Gets Fresh CLSS Subsidy of Rs 176 cr from NHB

The received subsidy is being passed on to the customers’ loan account and will reduce their monthly payable instalments, Aadhar Housing Finance said.

from Banking/Finance-Industry-Economic Times http://bit.ly/2FfpGG8

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RBI appoints Nilekani chairman of panel on digital payments

Panel to suggest measures to strengthen safety of digital payments ecosystem

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

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Bharat Bandh: Banking services to get disrupted today as PSU bank employees join trade unions strike

Bank Employees Federation of India and the All India Bank Employees Association (AIBEA) have opted to strike in support of the nation-wide strike call announced by major trade unions against the Narendra Modi-led government's alleged anti-worker policies.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Fde5Y0

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RBI sets up panel under Nandan Nilekani to boost digital payments

Another term of reference of the panel, the RBI said is to suggest a medium-term strategy for deepening of digital payments

from Business Line - Money & Banking http://bit.ly/2sf0BST

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Additional fund infusion to help banks lower NPAs: Report

The government decision to infuse Rs 41,000 crore more capital into the state-run banks is positive for these lenders as it will help them lower thei

from Business Line - Money & Banking http://bit.ly/2LXc1nz

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RBI appoints Nandan Nilekani as chairman of high-level committee on digital payments

RBI in a statement said, "With a view to encourage digitisation of payments and enhance financial inclusion through digitisation, the Reserve Bank has decided to constitute a high-level committee on deepening of digital payments."

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2RdCsv0

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Bharat Bandh: Banking services to get disrupted today as PSU bank employees join trade unions strike

Bank Employees Federation of India and the All India Bank Employees Association (AIBEA) have opted to strike in support of the nation-wide strike call announced by major trade unions against the Narendra Modi-led government's alleged anti-worker policies.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Fde5Y0

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Jalan panel holds 1st meeting to examine reserve size of RBI

The panel is likely to submit its report in April.

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

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Bharat Bandh: Banking services to get disrupted today as PSU bank employees join trade unions strike

Bank Employees Federation of India and the All India Bank Employees Association (AIBEA) have opted to strike in support of the nation-wide strike call announced by major trade unions against the Narendra Modi-led government's alleged anti-worker policies.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Fde5Y0

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Karnataka Bank to roll out upgraded core banking solution

Karnataka Bank Ltd will roll out the upgraded version of its core banking solution (CBS) in its branches from the second week of January.The bank info

from Business Line - Money & Banking http://bit.ly/2SP3Ko4

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Bharat Bandh: Banking services to get disrupted today as PSU bank employees join trade unions strike

Bank Employees Federation of India and the All India Bank Employees Association (AIBEA) have opted to strike in support of the nation-wide strike call announced by major trade unions against the Narendra Modi-led government's alleged anti-worker policies.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Fde5Y0

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Bharat Bandh: Banking services to get disrupted today as PSU bank employees join trade unions strike

Bank Employees Federation of India and the All India Bank Employees Association (AIBEA) have opted to strike in support of the nation-wide strike call announced by major trade unions against the Narendra Modi-led government's alleged anti-worker policies.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Fde5Y0

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Consolidation time: Gruh finance to merge with Bandhan Bank

Bandhan Bank said on Monday Gruh Finance would merge with it in an all-share deal valued at approximately Rs 81,800 crore based on the closing prices of shares of the two players.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2TE8vRL

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In surprise move, World Bank president to quit by February

Kim’s unexpected departure three years before his term was set to expire is likely to set off a fierce battle between the Trump administration and other countries who have complained about the influence the US exerts over the World Bank.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2SHiRA9

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Banking operations partially affected due to trade union strike

AIBEA and Bank Employees' Federation of India (BEFI) have supported the strike, which has impacted banking operation where these two unions are strong.

from Banking/Finance-Industry-Economic Times http://bit.ly/2saA0Xk

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Consolidation time: Gruh finance to merge with Bandhan Bank

Bandhan Bank said on Monday Gruh Finance would merge with it in an all-share deal valued at approximately Rs 81,800 crore based on the closing prices of shares of the two players.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2TE8vRL

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Banking services partially affected due to strike

Banking operations on Tuesday have been affected in some parts of the country as a section of employees refrained from work in support of the two-day

from Business Line - Money & Banking http://bit.ly/2CWIB67

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Consolidation time: Gruh finance to merge with Bandhan Bank

Bandhan Bank said on Monday Gruh Finance would merge with it in an all-share deal valued at approximately Rs 81,800 crore based on the closing prices of shares of the two players.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2TE8vRL

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Good credit growth to help banks' numbers

Banks will benefit from the improvement in recoveries by the upgradation of the Jayaswal Neco, Binani Cements and Uttam Galva loan accounts, Elara Capital said.

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

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World Bank President Jim Yong Kim announces his departure

Jim Yong Kim, the President of the World Bank, announced on Monday he is resigning at the end of January. Kim’s unexpected departure three years befo

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

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RBI KYC deadline may punch a hole in wallet companies plans

Mobile wallets kickstarted the Indian digital payment revolution about four years ago but now only a few such companies remain in the fray.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Rj3rFt

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AXA looks to exit mutual fund joint venture with Bank of India

The asset management unit of French insurer AXA Group, which holds 49% in BoI AXA Mutual Fund, has sounded out its domestic partner about its plan.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GXkQ1K

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Insurance executives take over top jobs at private banks

In fact, these days, corporates often prefer bankers and consultants for key posts such as finance, treasury or M&A heads or even strategy and business development.

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

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HDFC-led Gruh Finance approves merger into Bandhan Bank; 5 key things to know

Gruh Finance board on Monday approved merger of housing financier with Bandhan Bank in share-swap deal.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2QvUi7p

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How NBFCs are pushing for retail borrowings

These financiers, seeking to collectively raise an estimated Rs 15,000 – Rs 20,000 crore in the next two-three months, are talking to investments bankers to sell NCDs

from Banking/Finance-Industry-Economic Times http://bit.ly/2TD06xX

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Gruh Finance to merge with Bandhan Bank

Share-swap ratio set at 568 shares of Bandhan (₹10 each) for 1,000 of Gruh (₹2 each)

from Business Line - Money & Banking http://bit.ly/2C1M01C

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Q3 results: Private lenders likely to see a turnaround

Banks may see an improvement in credit growth; provisioning to be lower on resolution of some NCLT cases

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

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An expensive deal for Bandhan

But acquiring Gruh’s strong and quality business should pay off in the long run

from Business Line - Money & Banking http://bit.ly/2C3JdFj

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Bank strike on Jan 8 and 9

Bank and insurance sector employees have decided to join the all-India strike on January 8 and 9. The strike will be led by the Central Trade Unions,

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

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Short-term view remains positive for rupee

Negative bias in the dollar index may help the currency, but recovering oil price needs to be watched

from Business Line - Money & Banking http://bit.ly/2C4dRyp

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Securitisation market volumes touch all-time high of ₹1.44 lakh cr: ICRA

Credit rating agency ICRA, on Monday, said domestic securitisation market volumes touched an all-time high of ₹1.44 lakh crore (monthly run-rate of ₹1

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

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Banking services may get disrupted as employees unions call for 2-day strike; all you need to know

Last month as well, more than 1 million employees of various banks including private banks across the country, had observed a 1-day strike to protest against the proposed amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2C37P0Y

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SBI likely to remain operational on 2-day strike

All India Bank Employees Association and Bank Employees Federation of India have called the strike among the banking unions.

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

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Banking services may get disrupted as employees unions call for 2-day strike; all you need to know

Last month as well, more than 1 million employees of various banks including private banks across the country, had observed a 1-day strike to protest against the proposed amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2C37P0Y

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Banking services may get disrupted as employees unions call for 2-day strike; all you need to know

Last month as well, more than 1 million employees of various banks including private banks across the country, had observed a 1-day strike to protest against the proposed amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2C37P0Y

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NPA level of banks on the decline: RBI Governor Shaktikanta Das

Bad loans of public sector banks (PSBs) declining by over Rs 23,000 crore from a peak of Rs 9.62 lakh crore in March 2018.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Rxqv2O

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HDFC approaches NCLAT to recover dues from RHC Holding; challenges NCLT order

A two-member bench headed by Justice S J Mukhopadhaya listed the matter for next hearing on February 1.

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

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HDFC approaches NCLAT to recover dues from RHC Holding

Challenges NCLT order

from Business Line - Money & Banking http://bit.ly/2FcZw6P

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Generalised farm loan waiver impacts credit culture: RBI Governor

Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday said any generalised farm loan waiver adversely impacts the credit culture and the beh

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

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RBI likely to pay govt up to $5.8 bn interim dividend

The Reserve Ban of India (RBI), having changed management last month following a clash with the government, is likely to transfer an interim dividend

from Business Line - Money & Banking http://bit.ly/2Vw9p4x

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S&P removes ratings of IDBI Bank from CreditWatch

Move comes after the recent capital infusion from LIC

from Business Line - Money & Banking http://bit.ly/2QpT0uF

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Essar settles Rs 12,000 crore debt

Repays ICICI Bank, Axis Bank and Standard Chartered Bank

from Business Line - Money & Banking http://bit.ly/2C14UWo

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PNB sponsored RRBs in Punjab, Bihar consolidated

Post amalgamations, the country now has 53 regional rural banks

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

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FE Best Banks Awards: The Jury is in, countdown begins

India’s banks today face many challenges among them an increasingly digitised environment and more demanding and aspirational customers. Thanks to digitisiation, the competition among intermediaries is now more keen than ever.

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

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Bankers wary of late bid by union for Reid & Taylor

R&T owes lenders led by IDBI a total of Rs4,100 crore.

from Banking/Finance-Industry-Economic Times http://bit.ly/2C33tXx

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‘Rajesh Sud and Rajat Monga in race to head YES Bank’

The central bank had cut short the term of CEO Rana Kapoor without specifying any reasons.

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

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Bank unions call for 2-day strike, services may be hit

The All India Bank Employees Association (AIBEA) and Bank Employees Federation of India has informed the Indian Banks' Association (IBA) of the two-day nation-wide strike on January 8-9, 2019, IDBI Bank said in a filing to the BSE.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2QvAr8t

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Axis Bank said to hire veteran banker Pralay Mondal

The Reserve Bank of India (RBI) had turned down another term for Shikha Sharma, the then MD and CEO Axis Bank. I

from Banking/Finance-Industry-Economic Times http://bit.ly/2sfCXG5

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Sensex up over 300 points to reclaim 36,000-mark; Nifty above 10,800

On BSE, Tata Motors, Tata Steel, Vedanta, Maruti, Axis Bank and IndusInd Bank were among the major gainers with their stocks up as much as 2.75 per cent. On the NSE index, all sub-indices were trading in green with Nifty Metal leading the pack, up 1.59 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2LTM0Wd

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FE Best Banks Awards: The Jury is in, countdown begins

India’s banks today face many challenges among them an increasingly digitised environment and more demanding and aspirational customers. Thanks to digitisiation, the competition among intermediaries is now more keen than ever.

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

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PSBs to either shut or rationalise 69 unviable overseas branches in few months

Planned rationalisation of operations and examination of a total of 216 overseas operations of PSBs was undertaken last year.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2saECN0

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Govt, RBI developing new system to collect information on NBFCs

The government, along with the RBI, is working for developing a source of data through the strengthening of institutional mechanism, said Economic Affairs Secretary Subhash Chandra Garg.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2seGV1H

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‘Need at least 100 bps reduction in interest rates’

FICCI President speaks on the measures needed to trigger economic growth

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

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Jan Dhan: Now, no more worry over zero balance accounts

Only 20% of 33.66-cr beneficiary accounts under the scheme are inoperative

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

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Aster DM inks pact with Bajaj Finserv

Aster DM Healthcare Ltd has announced its partnership with Bajaj Finserv for Aster Easy Care — an initiative designed to allow patients to access emer

from Business Line - Money & Banking http://bit.ly/2LRd9sT

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On the returns front, many a slip between benchmarks and equity SIPs

Experts blame TRI-based benchmarking, narrow rally for funds’ under-peformance

from Business Line - Money & Banking http://bit.ly/2saTD1v

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Northern Arc Capcloses ₹38-crore PerSec transaction

Our BureauNorthern Arc Capital, a Chennai-based non-banking financial company, today announced that it has closed India’s first Persistent Securitisat

from Business Line - Money & Banking http://bit.ly/2Fe15QV

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Fast-track hiring to overcome manpower shortage due to retirements: House panel to PSBs

As per IBPS data, there is a discernible fall in number of candidates registering for clerical, probationary officer and specialist officer positions at PSBs

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

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MFs add Rs 1.24 lakh cr to asset base in 2018

Mutual funds have added a staggering Rs 1.24 lakh crore to their asset base in 2018 assisted by consistent increase in SIP flows and a robust partici

from Business Line - Money & Banking http://bit.ly/2GXF1Na

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Andhra Bank to deploy over 1,600 business correspondents to boost financial inclusion programme

The lender is implementing this project since 2010

from Business Line - Money & Banking http://bit.ly/2Az46YX

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MFs add Rs 1.24 lakh cr to asset base in 2018

Mutual funds have added a staggering Rs 1.24 lakh crore to their asset base in 2018 assisted by consistent increase in SIP flows and a robust partici

from Business Line - Money & Banking http://bit.ly/2Fe1cfB

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PSU banks plan rationalisation of 69 overseas branches

Public sector banks are in the process of closing or rationalising about 69 overseas operations in the next few months as part of their capital cons

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

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Parliament panel asks PSBs to step up hiring to avert vacuum due to large retirement in 2019-20

Public sector banks (PSBs) ought to step up hiring at junior and middle levels to ensure there is no vacuum following retirement of large number of employees in the near future, the lawmakers said in a report to Parliament.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Tz0mhn

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Parliament panel asks PSBs to step up hiring to avert vacuum due to large retirement in 2019-20

Public sector banks (PSBs) ought to step up hiring at junior and middle levels to ensure there is no vacuum following retirement of large number of employees in the near future, the lawmakers said in a report to Parliament.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Tz0mhn

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Andhra Bank to deploy over 1,600 business correspondents to boost financial inclusion programme

At present, Andhra Bank uses separate Financial Inclusion Gateway solution procured from a third-party vendor for all financial inclusion transactions.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Tyj2hg

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Fast-track hiring to overcome manpower shortage due to retirements: Parliamentary panel to PSBs

In PSBs, 95 per cent of GM level employees, 75 per cent of Deputy GM level employees, and 58 per cent of Additional GM level employees will retire in 2019-20.

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

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Dry ATMs: Parliament panel nudges RBI to fix the problem

As per a data of RBI, there were 2,21,492 Automated Teller Machines (ATMs) in the country as at September-end 2018.

from Banking/Finance-Industry-Economic Times http://bit.ly/2scS4jn

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