SBI bites the bullet: Will other banks also link interest rates to RBI repo rate?

SBI's decision to link interest rates on savings deposits over Rs 1 lakh balance, and short-term loans to RBI repo rate might force other public and private sector banks to follow suit. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Us40...

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Operational creditors benefit equally from IBC: IBBI

In December, the NCLT had observed that operational creditors should have voting rights to have a bigger say in any resolution process. from Banking/Finance-Industry-Economic Times https://ift.tt/2HmbT...

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Marquee names of India Inc struggle as capital expenditure continues to lag

With the capital expenditure cycle unlikely to revive anytime soon, it's headwinds for one and all. from Banking/Finance-Industry-Economic Times https://ift.tt/2HbdM...

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P Chidambaram welcomes merger of banks

“I believe India should have 6-8 big banks with big balance sheets instead of 25 public sector banks. Our banks are pygmies in front of banks of the world." Chidambaram said at his book launch from Banking/Finance-Industry-Economic Times https://ift.tt/2tVsV...

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Small deposits, loans will continue to be MCLR based: SBI

The bank has also linked all cash credit accounts and overdrafts with limits above Rs 1 lakh to the repo rate plus a spread of 2.25 per cent from Business Line - Money & Banking https://ift.tt/2EZdY...

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Small deposits, loans will continue to be MCLR based, says SBI

SBI Chairman said loans and deposits below Rs 1 lakh will continue to be linked to the present MCLR to protect retail customers from market vagaries. from Banking/Finance-Industry-Economic Times https://ift.tt/2EZcg...

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SBI bites the bullet: Will other banks also link interest rates to RBI repo rate?

SBI's decision to link interest rates on savings deposits over Rs 1 lakh balance, and short-term loans to RBI repo rate might force other public and private sector banks to follow suit. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Us40...

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Nirav Modi in London: New business, swanky home, expensive jacket & more

Nirav Modi, who is the prime accused in over $2 billion (around Rs 14,000 crore) Punjab National Bank (PNB) scam, can be seen "walking (with) his small dog each day between his apartment and the diamond company's office." from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2EXqW...

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India taking all necessary steps for Nirav Modi's extradition: MEA

Nirav Modi is the prime accused in multi-billion fraud that took place at a Mumbai branch of Punjab National Bank (PNB). This is believed to be the country's biggest scam and his uncle Mehul Choksi is also allegedly involved in it. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2F1wd...

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Ashu Khullar to succeed Pramit Jhaveri as Citi India boss

Citi India’s balance sheet is considered among the best-performing in Indian banking, with net bad loans of 0.55% as of March 31, 2018. from Banking/Finance-Industry-Economic Times https://ift.tt/2F1l7...

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Indiabulls Housing Finance leads race for Lakshmi Vilas Bank merger; Edelweiss, Srei Infrastructure also keen

The Chennai-based bank has been evaluating the merger option as it needs to augment long-term capital. from Banking/Finance-Industry-Economic Times https://ift.tt/2EXVG...

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Kochhars may have diverted 'kickbacks' to tax haven: Enforcement Directorate

The former ICICI boss is being investigated over allegations of a quid pro quo for loans to companies linked to Videocon and Essar Group with which her husband had a business relationship. from Banking/Finance-Industry-Economic Times https://ift.tt/2NQdq...

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Doorstep gold loan delivery in Delhi, Mumbai; Manappuram Finance kick-starts this service

The service was piloted and launched successfully last year in Chennai and Bengaluru where it is available across 107 and 183 branches, respectively. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2EKq4...

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Doorstep gold loan delivery in Delhi, Mumbai; Manappuram Finance kick-starts this service

The service was piloted and launched successfully last year in Chennai and Bengaluru where it is available across 107 and 183 branches, respectively. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2EKq4...

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Appetite for Asia improves, but investors wary of bank stocks

The chances of recession have faded enough for emerging market investors to plough billions of dollars into Asian stock markets, but not enough to buy from Business Line - Money & Banking https://ift.tt/2HmSJ...

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IBBI in cooperation deal with IFC

The Insolvency and Bankruptcy Board of India (IBBI) has signed a cooperation agreement with the International Finance Corporation (IFC), a member of t from Business Line - Money & Banking https://ift.tt/2H9hN...

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Standard Chartered may take another hit in India as bad loans pile up

Standard Chartered has the highest proportion of bad loans on its books of any of the top foreign banks in India, a reflection of its decision to hang from Business Line - Money & Banking https://ift.tt/2HlgO...

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SBI plans to link SB deposits andCC/OD accounts to RBI repo rate

In a significant move, State Bank of India (SBI), on Friday, said it will link savings bank (SB) deposits with balances over ₹1 lakh and all cash cred from Business Line - Money & Banking https://ift.tt/2TBpG...

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‘RBI must set up committee to relook ownership norms for private lenders’

With Kotak Mahindra Bank approaching the Bombay High Court on the issue of dilution of promoter holding, there has been a lot of clamour to seek a rev from Business Line - Money & Banking https://ift.tt/2J9Lg...

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ESAF SFB plans robot-aided banking services

ESAF Small Finance Bank, which has completed two full years of operations, will soon introduce robot-aided banking services for customers.The total b from Business Line - Money & Banking https://ift.tt/2TCvG...

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Banks coming out of PCA framework may not see sudden growth in credit

Though the capital situation has improved, asset quality of banks remains a concern, which may see them slipping into PCA again from Business Line - Money & Banking https://ift.tt/2J0sW...

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Banks coming out of PCA framework may not see sudden growth in credit

Though the capital situation has improved, asset quality of banks remains a concern, which may see them slipping into PCA again from Business Line - Money & Banking https://ift.tt/2J0sW...

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Aye Finance raises ₹234 cr in Series D funding

MSME lender Aye Finance has raised ₹233.62 crore in Series D equity round, led by New York-based investment firm Falcon Edge Capital. Existing investo from Business Line - Money & Banking https://ift.tt/2CaKN...

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PSBs losing 770 bps market share in deposits since FY11: Kotak Securities

Public sector banks (PSBs) have lost 770 basis points (bps) market share in deposits since FY2011, with the loss gradually picking pace in the past fe from Business Line - Money & Banking https://ift.tt/2tV15...

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Credit Suisse expands to new facility in Pune

To establish India as a centre for technology innovation, investment banking firm Credit Suisse has moved to a new smart working facility in Pune. Th from Business Line - Money & Banking https://ift.tt/2HmhZ...

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MSMEs created 14% more jobs in last four years, claims CII survey

The findings are contrary to the official and other industry data which show that there was massive job losses since the the note-bank and GST implementation in this very sector. While private sector economic think-tank has found that as many as 13 million jobs were lost in 2018 alone, the official NSSO data show that unemployment rate touched a 46-year high in 2018. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2EWel...

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MF asset down a tad at Rs 23.16 lakh crore

The total number of folios in mutual fund industry was up at 8.91 crore against 8.17 crore in January from Business Line - Money & Banking https://ift.tt/2VJXO...

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84% Indians feel the pinch of rising uncertainties in life; report says

A whopping 84% of over 2,000 respondents said they felt life is now extremely uncertain compared to 79% who held the view in 2017 and 75% in 2013. from Banking/Finance-Industry-Economic Times https://ift.tt/2J0Du...

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MF asset down a tad at Rs 23.16 lakh cr

The total number of folios in mutual fund industry was up at 8.91 crore against 8.17 crore in January from Business Line - Money & Banking https://ift.tt/2IX3I...

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Manappuram Finance offers doorstep gold loan in Delhi, Mumbai

Manappuram Finance on Friday said it would offer doorstep delivery of gold loan to customers in Delhi and Mumbai.The company will offer the doorstep from Business Line - Money & Banking https://ift.tt/2Tzrj...

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Now, you can deposit cash, pay utility bills on non branded white label ATMs

Relaxing the norms further, the central bank has allowed these WLA to buy wholesale cash above Rs 1 lakh directly from the RBI and currency chests. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2EHgG...

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Govt sector pension monies: PFRDA wants PE/VC industry to knock Govt doors

They also ask the PE/VC industry to improve PE investing awareness of Pension Fund Managers from Business Line - Money & Banking https://ift.tt/2Urq3...

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Now, you can deposit cash, pay utility bills on non branded white label ATMs

Relaxing the norms further, the central bank has allowed these WLA to buy wholesale cash above Rs 1 lakh directly from the RBI and currency chests. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2EHgG...

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HDFC Bank cuts MCLRs by 5 bps, Bank of Baroda slashes lending rate by 10 bps

HDFC Bank on Thursday reduced the marginal cost-based lending rate (MCLR) for two- and three-years tenors by 5 basis points to 8.85% and 9% respectively, according to the lender’s website. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2tSbP...

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Loan disbursals to women surge 48% in last 4 years, Tamil Nadu women lead jump

The Cibil data show 8.6 million new-to-credit women borrowers are opening new loan accounts per year. Loans against gold led at 56.4 million accounts, though demand dropped by 13% in 2018, followed by business loans. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Hkes...

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RBI penalty: Swift blames short-comings in automated payment processes at banks

It can be noted that the modus operandi of over Rs 13,000 crore fraud at state-run Punjab National Bank, allegedly perpetrated by diamond traders Nirav Modi and Mehul Choksi, rested on the abuse of the Swift system. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2tWAX...

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HDFC Bank cuts MCLRs by 5 bps, Bank of Baroda slashes lending rate by 10 bps

HDFC Bank on Thursday reduced the marginal cost-based lending rate (MCLR) for two- and three-years tenors by 5 basis points to 8.85% and 9% respectively, according to the lender’s website. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2tSbP...

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Loan disbursals to women surge 48% in last 4 years, Tamil Nadu women lead jump

The Cibil data show 8.6 million new-to-credit women borrowers are opening new loan accounts per year. Loans against gold led at 56.4 million accounts, though demand dropped by 13% in 2018, followed by business loans. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Hkes...

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RBI penalty: Swift blames short-comings in automated payment processes at banks

It can be noted that the modus operandi of over Rs 13,000 crore fraud at state-run Punjab National Bank, allegedly perpetrated by diamond traders Nirav Modi and Mehul Choksi, rested on the abuse of the Swift system. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2tWAX...

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HDFC Bank cuts MCLRs by 5 bps, Bank of Baroda slashes lending rate by 10 bps

HDFC Bank on Thursday reduced the marginal cost-based lending rate (MCLR) for two- and three-years tenors by 5 basis points to 8.85% and 9% respectively, according to the lender’s website. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2tSbP...

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Loan disbursals to women surge 48% in last 4 years, Tamil Nadu women lead jump

The Cibil data show 8.6 million new-to-credit women borrowers are opening new loan accounts per year. Loans against gold led at 56.4 million accounts, though demand dropped by 13% in 2018, followed by business loans. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Hkes...

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RBI penalty: Swift blames short-comings in automated payment processes at banks

It can be noted that the modus operandi of over Rs 13,000 crore fraud at state-run Punjab National Bank, allegedly perpetrated by diamond traders Nirav Modi and Mehul Choksi, rested on the abuse of the Swift system. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2tWAX...

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Lakshmi Vilas Bank's merger with NBFC may open more such possibilities

Smaller banks, with low-cost liabilities, are attractive bets for bigger para banks, and a successful deal involving Lakshmi Vilas could act as the template for Indian financiers. from Banking/Finance-Industry-Economic Times https://ift.tt/2Cd68...

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Retired engineer’s letter to PM on lack of fire safety in banks ‘triggers’ an alarm

Says mishaps ‘not only diminish the brand image of banks, but also cause loss of life and money’ from Business Line - Money & Banking https://ift.tt/2C5v7...

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Retail ahead of industrial sector in credit growth

The share of industrial sector in total outstanding credit declines to 30% from Business Line - Money & Banking https://ift.tt/2NMPr...

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Housing finance firms take ECB route on rising interest rates, tight liquidity

Amid rising interest rates and tight liquidity in the domestic market, housing finance companies (HFCs) are turning to external commercial borrowings from Business Line - Money & Banking https://ift.tt/2Ca7w...

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RBI allows white label ATM operators to source cash, generate income from ads

In a bid to enhance the viability of white-label ATMs (WLAs), the Reserve Bank of India has allowed white-label ATM operators (WLAOs) to buy wholesale from Business Line - Money & Banking https://ift.tt/2SOPl...

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Raghuram Rajan to get Yashwantrao Chavan award

Former RBI Governor Raghuram Rajan has been chosen for the ‘Yashwantrao Chavan National Award 2018’ for his contribution to economic development.Rajan from Business Line - Money & Banking https://ift.tt/2XIwK...

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DBS Bank in expansion mode

DBS Bank India Limited is building scale through the “phygital” (digital-cum-physical presence) model to serve large corporates, small/medium enterpr from Business Line - Money & Banking https://ift.tt/2SPMp...

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Why private sector banks are taking lead against PSU banks in race for deposits

Private banks take lead in race for deposits against the public sector banks (PSBs) as robust loan growth requires them to focus more on deposit share, a report said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2SNGU...

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State Bank of India to join SWIFT's global payment interface

“We are in the final stages of approval with SBI and we hope to announce the partnership soon,” said Kiran Shetty, CEO Swift India. from Banking/Finance-Industry-Economic Times https://ift.tt/2H4CN...

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RBI penalty: Swift blames short-comings in automated payment processes at banks

It can be noted that the modus operandi of over Rs 13,000 crore fraud at state-run PNB, allegedly perpetrated by Nirav Modi and Mehul Choksi, rested on the abuse of the Swift system. from Banking/Finance-Industry-Economic Times https://ift.tt/2ETO6...

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Private banks continue to chip away on PSU market share

Historically, private banks have been more successful in building their asset side and are now increasingly focusing on their liability franchise,” Kotak said. from Banking/Finance-Industry-Economic Times https://ift.tt/2VKyE...

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RBI penalty: Swift blames short-comings in automated payment processes at banks

Global financial messaging cooperative Swift blamed the shortcomings in banks’ automated payment processes and also reconciliation for the regulatory from Business Line - Money & Banking https://ift.tt/2XBRp...

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Govt to come out first ever 12-edged ₹ 20 coins

Visually impaired friendly new series of one, two, five and ten rupees coins too to be minted from Business Line - Money & Banking https://ift.tt/2HqpK...

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NPCI issues 64 mn RuPay cards, aims to grow international acceptance

The RuPay global debit and credit cards are currently issued by 40 banks from Business Line - Money & Banking https://ift.tt/2VBsc...

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Sensex extends gains on positive domestic cues

Among the Sensex constituents, Larsen and Toubro emerged as the top performer with a gain of 2.76 per cent after the company announced winning large contracts from domestic clients. Other gainers in the 30-share Sensex pack were Mahindra and Mahindra, Axis Bank, ITC, SBI, HDFC, PowerGrid, Tata Motors, TCS, Tata Steel and Reliance, rising up to 1.77 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2H5y3...

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Govt to come out fist ever 12-edged ₹ 20 coins

Visually impaired friendly new series of one, two, five and ten rupees coins too to be minted from Business Line - Money & Banking https://ift.tt/2SOiS...

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ICICI Bank UK sues Assam Oil for $73.5 million

The High Court London heard on Tuesday that ICICI Bank UK Plc gave $63 million worth of loans to Assam Oil Company on December 21, 2007 in order to “help it proceed with its investment strategy”. Assam Oil, registered in England, is the holding company of Assam Company India (Assam India), registered in India, the first tea company in the world. Assam Oil owns 38% of Assam India and has no other business other than this shareholding. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business...

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NPA crisis: Banks risk adding $25bn bad loans as SC hears power producers case

The top court in September halted proceedings against power, sugar and shipping companies after they challenged the Reserve Bank of India’s rules. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2EKHI...

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NPA crisis: Banks risk adding $25bn bad loans as SC hears power producers case

The top court in September halted proceedings against power, sugar and shipping companies after they challenged the Reserve Bank of India’s rules. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2EKHI...

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NPA crisis: Banks risk adding $25bn bad loans as SC hears power producers case

The top court in September halted proceedings against power, sugar and shipping companies after they challenged the Reserve Bank of India’s rules. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2EKHI...

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Bad assets and bankruptcy code: Lenders recover almost half of Rs 1.43-lakh crore defaulting advances

More than a fifth of these cases have gone for liquidation, while the rest are either under insolvency resolution process or resolved. from Banking/Finance-Industry-Economic Times https://ift.tt/2Ha7y...

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NPA crisis: Banks risk adding $25bn bad loans as SC hears power producers case

The top court in September halted proceedings against power, sugar and shipping companies after they challenged the Reserve Bank of India’s rules. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2EKHI...

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Rs 389 crore loans at centre of ED’s probe of Kochhars

Money received as loans by NuPower from Videocon and Firstland being seen as alleged kickbacks paid to Kochhars. from Banking/Finance-Industry-Economic Times https://ift.tt/2VI1Q...

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Bank credit growth highest in retail sector in Apr-Jan FY19; this sector attracts maximum lending

Even as retail lending picked pace, industrial credit cut a sorry figure as high bad loans continue to affect large businesses in April-January period of FY19, a report said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2TxVa...

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Bank credit growth highest in retail sector in Apr-Jan FY19; this sector attracts maximum lending

Even as retail lending picked pace, industrial credit cut a sorry figure as high bad loans continue to affect large businesses in April-January period of FY19, a report said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2TxVa...

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Bank credit growth highest in retail sector in Apr-Jan FY19; this sector attracts maximum lending

Even as retail lending picked pace, industrial credit cut a sorry figure as high bad loans continue to affect large businesses in April-January period of FY19, a report said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2TxVa...

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Home loans get costlier; HDFC home loan interest rates up 65 bps in 1 year

HDFC’s home loan rate, which stands at 9 per cent now, is 65 bps higher than that in December 2017, Kotak Securities said in a research report. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2TCRd...

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Why banks can’t afford to ignore the $23-t market for doing good

When British housing association London & Quadrant needed a £100-million ($132-million) loan last year, its bank offered something unusually gener from Business Line - Money & Banking https://ift.tt/2Hi95...

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Banks face risk of adding $25-b debt on SC decision

Apex court to begin hearing arguments on whether the RBI’s diktat applies across industries from Business Line - Money & Banking https://ift.tt/2tVLz...

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IRDAI, NHA form working group to curb fraud in Ayushman Bharat scheme

The Insurance Regulatory and Development Authority of India (IRDAI) and the National Health Authority (NHA) have formed a working group on the Ayushma from Business Line - Money & Banking https://ift.tt/2Hi8Y...

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Crif Highmark ties up with CreditVidya

The partnership between CRIF High Mark and CreditVidya envisages value added reports even if a customer has taken a loan or a credit card in the past. from Banking/Finance-Industry-Economic Times https://ift.tt/2tQm7...

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IL&FS yet to pay salaries to 44 employees of Ethiopian JV

The four Indian employees returned to India on February 24 from Business Line - Money & Banking https://ift.tt/2UtUV...

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United Bank, HDFC Life sign bancassurance deal

Our BureauUnited Bank of India has signed a bancassurance deal with private life insurer HDFC Life Insurance Company. Through this partnership, United from Business Line - Money & Banking https://ift.tt/2C6IO...

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Resolution of complaints: Insurers ignoring ombudsmen judgments

Reasons for non-execution of award not being adhered to by many players in the industry from Business Line - Money & Banking https://ift.tt/2UoYl...

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DHFL didn't create shell companies; deviate from lending norms: Audit report

In January this year, online news portal Cobrapost had alleged that its promoters have siphoned off over Rs 31,000 crore of public funds. from Banking/Finance-Industry-Economic Times https://ift.tt/2HoGe...

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Home loans get costlier; HDFC home loan interest rates up 65 bps in 1 year

HDFC’s home loan rate, which stands at 9 per cent now, is 65 bps higher than that in December 2017, Kotak Securities said in a research report. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2TCRd...

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Exim Bank raises $ 500 mn via bonds

The Export-Import Bank of India (Exim Bank) Wednesday said it has raised USD 500 million by issuing bonds, and the proceeds will be used to fund proj from Business Line - Money & Banking https://ift.tt/2Tixk...

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DBS India to hire 600-800 persons in 18 months as it goes into expansion mode

"We are looking anywhere between 600-800 people for our branch expansion over the next 12-18 months, including people at our technology development centre in Hyderabad," Shantanu Sengupta, head (consumer banking group), DBS Bank India, said at the inauguration of the Gurugram branch. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2NK0Q...

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Home loans get costlier; HDFC home loan interest rates up 65 bps in 1 year

HDFC’s home loan rate, which stands at 9 per cent now, is 65 bps higher than that in December 2017, Kotak Securities said in a research report. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2TCRd...

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RBI fines 19 banks including SBI, ICICI for non-compliance of SWIFT guidelines

The Reserve Bank of India has fined 19 banks, including India's largest bank State Bank of India and ICICI Bank, for a total of about Rs 40 crores in relation to non-compliance of its guidelines on global payments network SWIFT . from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2EP8C...

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Home loans get costlier; HDFC home loan interest rates up 65 bps in 1 year

HDFC’s home loan rate, which stands at 9 per cent now, is 65 bps higher than that in December 2017, Kotak Securities said in a research report. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2TCRd...

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RBI fines 19 banks including SBI, ICICI for non-compliance of SWIFT guidelines

The Reserve Bank of India has fined 19 banks, including India's largest bank State Bank of India and ICICI Bank, for a total of about Rs 40 crores in relation to non-compliance of its guidelines on global payments network SWIFT . from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2EP8C...

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Banks risk adding $25 billion bad debt on Supreme Court decision

Supreme Court is poised to begin hearing arguments on whether the regulator’s diktat applies across industries. from Banking/Finance-Industry-Economic Times https://ift.tt/2Um7H...

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IL&FS crisis fallout: NHB proposes higher capital adequacy for housing finance companies

Similarly, the borrowing limit will have to be cut to 14 times of HFCs’ NOF by March 2020, 13 times by March 2021 and 12 times by March 2022. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2VEtU...

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IDBI Bank seeks bids for Lanco Solar (Gujarat) plant

Last month, banks met to discuss seven-eight projects and arrive at a final resolution with regard to Jaiprakash Associates-promoted Prayagraj Power Generation Company’s 1,980 MW Bara unit and SKS Chhattisgarh’s 1,200 MW Binjkote plant. Both are expected to be resolved by the end of the March quarter. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2TD4L...

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To cool housing finance sector, NHB to set minimum capital, borrowing cap norms

Will equip firms to handle liquidity, solvency risks better from Business Line - Money & Banking https://ift.tt/2Twk2...

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Curbing ponzi schemes: As good as it can get

The most common among fraudsters is to promote a deposit scheme in an informal way among communities where people are looking for a plan to park savings. from Banking/Finance-Industry-Economic Times https://ift.tt/2ENRU...

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Innovation-led insurance is our focus: HDFC Life CEO

Vibha Padalkar became the public face of the company when she succeeded Amitabh Chaudhry as the CEO after serving the company for nearly two decades in various capacities. from Banking/Finance-Industry-Economic Times https://ift.tt/2UnhA...

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Resonance Eduventures in talks with PEs to sell stake, pay KKR debt

Coaching co valued at Rs 1,100 cr, must repay Rs 800 crore to KKR. from Banking/Finance-Industry-Economic Times https://ift.tt/2tT2q...

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IDBI Bank seeks bids for Lanco Solar (Gujarat) plant

Last month, banks met to discuss seven-eight projects and arrive at a final resolution with regard to Jaiprakash Associates-promoted Prayagraj Power Generation Company’s 1,980 MW Bara unit and SKS Chhattisgarh’s 1,200 MW Binjkote plant. Both are expected to be resolved by the end of the March quarter. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2TD4L...

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Tech jobs! DBS Bank plans to hire 1,000 more techies at tech hub in Hyderabad

"The hub has about 2,000 engineers building smartest solutions, 1,200 software engineers and developers work with DBS and about 800 who work with partners and build our technology products. We expect to grow it to 3,000 over the next 24 months," DBS Bank India chief executive Surojit Shome told reporters after launching its first branch in Hyderabad. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IQJ9...

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Tech jobs! DBS Bank plans to hire 1,000 more techies at tech hub in Hyderabad

"The hub has about 2,000 engineers building smartest solutions, 1,200 software engineers and developers work with DBS and about 800 who work with partners and build our technology products. We expect to grow it to 3,000 over the next 24 months," DBS Bank India chief executive Surojit Shome told reporters after launching its first branch in Hyderabad. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IQJ9...

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SBI, Hitachi arm to roll out digital payments platform

The joint venture will facilitate expansion of the digital payments landscape in India via its digital payments platform from Business Line - Money & Banking https://ift.tt/2tSGi...

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RBI fines 19 lenders for non-compliance on SWIFT use

RBI has imposed the fines over the past four days, according to stock exchange filings by the banks, though specifics of the non-compliance were not disclosed. from Banking/Finance-Industry-Economic Times https://ift.tt/2UlcY...

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The right swipe: At 25%, credit card business sees robust growth in 2018

There has been a significant increase in the number of credit cards issued by banks in the last one year. According to data from the National Payments from Business Line - Money & Banking https://ift.tt/2VFA5...

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To prevent frauds, banks plan to appoint agencies to monitor large-value accounts

Under IBA aegis, banks set up a committee of senior bankers to shortlist the agencies from Business Line - Money & Banking https://ift.tt/2ENDB...

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Kerala extends moratorium on farm-loan repayment till December

The State cabinet on Tuesday announced a number of steps including extending the moratorium on loan recovery till December 31 from Business Line - Money & Banking https://ift.tt/2C36Y...

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National Housing Bank plans stronger capital norm for housing finance companies

The draft amendments has proposed raising the CAR to 15% in a staggered manner by March 2022, while suggested a higher cap on borrowing. from Banking/Finance-Industry-Economic Times https://ift.tt/2VC1L...

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World Bank to provide $250 mn to boost rural income

The $250 million loan has a five-year grace period, and a final maturity of 20 years from Business Line - Money & Banking https://ift.tt/2H0t7...

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IL&FS board charges former directors of money laundering, criminal intent

IL&FS Group, which operates at least 24 direct subsidiaries, 135 indirect subsidiaries, six joint ventures and four associate companies, is sitting on debt of Rs 94,000 crore from Business Line - Money & Banking https://ift.tt/2VwRq...

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Bank of Baroda slashes lending rate by 10 basis points

Banks have been lagging in passing on the RBI rate cuts to end-borrowers, citing higher credit cost due to the massive NPA piles from Business Line - Money & Banking https://ift.tt/2UmeX...

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Reliance AIF to launch its first commodity-focused fund

Plans to mop up ₹ 700 cr investment from Business Line - Money & Banking https://ift.tt/2VEA5...

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World Bank to provide $250 million to boost rural income

"A key focus of the project will be to promote women-owned and women-led farm and non-farm enterprises across value chains; enable them to build businesses that help them access finance, markets and networks; and generate employment," Wold Bank said in a statement. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ITtY...

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Bank of Baroda slashes lending rate by 10 basis points

State-owned Bank of Baroda (BoB) Tuesday cut benchmark lending rate by 0.1 percentage points, a move that would make home, auto and other loans cheaper. from Banking/Finance-Industry-Economic Times https://ift.tt/2TfaK...

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A slowing Indian economy and liquidity crisis to keep real estate prices from rising: Poll

After nearly tripling in the past decade and rising for many years at double-digit rates, house price gains have slowed over the past two years, according to Reuters calculations based on the Reserve Bank of India’s All-India House Price Index. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ISb5...

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DBS Bank launches first branch in Ahmedabad

DBS Bank on Tuesday inaugurated its first branch in Ahmedabad with a focus on catering to the needs of Small and Medium-sized Enterprises (SMEs), corp from Business Line - Money & Banking https://ift.tt/2Xx6h...

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RBI fines Allahabad Bank, ICICI Bank, Yes Bank for non-compliance of various norms

The amount of penalty is not material considering the size of the bank, and necessary measures for compliance with the said RBI directions have been taken, Allahabad Bank added. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ITy2...

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RBI slaps Rs 1 crore fine on Yes Bank for non-compliance in Swift operations

Private sector lender Yes Bank Tuesday said the Reserve Bank of India has slapped a fine of Rs 1 crore on the bank for non-compliance of directions on Swift messaging software. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IQ1d...

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RBI slaps Rs 1 crore fine on Yes Bank for non-compliance in Swift operations

Private sector lender Yes Bank Tuesday said the Reserve Bank of India has slapped a fine of Rs 1 crore on the bank for non-compliance of directions on Swift messaging software. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IQ1d...

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RBI slaps Rs 1 crore fine on Yes Bank for non-compliance in Swift operations

Private sector lender Yes Bank Tuesday said the Reserve Bank of India has slapped a fine of Rs 1 crore on the bank for non-compliance of directions on Swift messaging software. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IQ1d...

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RBI slaps Rs 1 crore fine on Yes Bank for non-compliance in Swift operations

Private sector lender Yes Bank Tuesday said the Reserve Bank of India has slapped a fine of Rs 1 crore on the bank for non-compliance of directions on Swift messaging software. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IQ1d...

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RBI slaps Rs 1 cr fine on Yes Bank for non-compliance in Swift operations

RBI has levied an aggregate penalty of Rs 10 million (Rs 1 crore) on the bank for non-compliance of regulatory directions. from Banking/Finance-Industry-Economic Times https://ift.tt/2EwwJ...

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RBI slaps ₹ 1 cr fine on Yes Bank for non-compliance

Private sector lender Yes Bank on Tuesday said the Reserve Bank of India has slapped a fine of ₹ 1 crore on the bank for non-compliance of directions from Business Line - Money & Banking https://ift.tt/2HfEL...

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NBFCs with Rs 1,000 crore assets want public deposit access

There are more than 10,000 NBFCs and around 100 are allowed to accept public deposits. NBFCs with assets of at least Rs 500 crore are considered systemically important. from Banking/Finance-Industry-Economic Times https://ift.tt/2NIIZ...

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ICICI Bank to buy 9.9% in NBFC Kisan Finance for Rs 18 crore

"This transaction does not constitute a related party transaction. ICICI Bank has no promoters. None of the group companies of ICICI Bank (including ICICI Bank) have any interest in the entity being acquired," it added. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2UlPT...

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RBI imposes Rs 8 crore fine on 3 banks for non-compliance in Swift operations

The RBI has levied an aggregate penalty of Rs 40 million on the bank for delayed implementation of four of the Swift related operational controls, Karnataka Bank said in a regulatory filing. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2BXTJ...

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ICICI Bank to buy 9.9% in NBFC Kisan Finance for Rs 18 crore

"This transaction does not constitute a related party transaction. ICICI Bank has no promoters. None of the group companies of ICICI Bank (including ICICI Bank) have any interest in the entity being acquired," it added. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2UlPT...

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RBI imposes Rs 8 crore fine on 3 banks for non-compliance in Swift operations

The RBI has levied an aggregate penalty of Rs 40 million on the bank for delayed implementation of four of the Swift related operational controls, Karnataka Bank said in a regulatory filing. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2BXTJ...

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RBI slaps Rs 4 crore fine on Karnataka Bank for violating regulatory norms

Notably, the massive Rs 14,000 crore fraud at the PNB was a case of misuse of this messsaging software. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IR90...

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RBI slaps Rs 4 crore fine on Karnataka Bank for violating regulatory norms

Notably, the massive Rs 14,000 crore fraud at the PNB was a case of misuse of this messsaging software. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IR90...

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Banks see upsurge in rural credit growth

Loans to finance agricultural and allied activities drive rural lending from Business Line - Money & Banking https://ift.tt/2EN0S...

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Corporate insolvency: Charter of responsibilities for IRPs, CoC unveiled

This charter, which is not mandatory, has been prepared in consultation with the three insolvency professional agencies from Business Line - Money & Banking https://ift.tt/2VuWT...

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ICICI buys 10% stake in Kisan Rural

ICICI Bank, on Monday, said it has acquired 9.90 per cent stake in Kisan Rural Finance for a cash consideration of ₹17.82 crore. The private sector ba from Business Line - Money & Banking https://ift.tt/2Hfms...

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Near-term outlook positive for rupee

Stable oil prices will help the currencyregain strength from Business Line - Money & Banking https://ift.tt/2tPI5...

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Insurers see ‘strong potential for revival of pet insurance market’

But lack of awareness from Business Line - Money & Banking https://ift.tt/2IRR5...

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DBS expects India unit to generate ₹1.50-lakh cr business in five years

Singapore bank converts India operations into wholly-owned subsidiary from Business Line - Money & Banking https://ift.tt/2TtPa...

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RBI slaps Rs 4 crore fine on Karnataka Bank for violating regulatory norms

Notably, the massive Rs 14,000 crore fraud at the PNB was a case of misuse of this messsaging software. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IR90...

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Switzerland is redesigning one of world’s most valuable currency note

The revamping of the top Swiss currency note comes against international criticism of such large denomination notes of world’s top currencies aiding crime and tax evasion, Bloomberg reported from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2XAd6...

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RBI imposes Rs 11 crore fine on 4 banks for non-compliance in Swift operations

"The exchanges are hereby informed that Reserve Bank of India..., has imposed an aggregate penalty of Rs 3 crore on the Bank to be deposited within 14 days, for non-compliance with, and contraventions of, directions contained in the RBI circular on time-bound implementation and strengthening of Swift-related operational controls," United Bank said in a separate filing. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2GYnp...

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RBI slaps Rs 4 crore fine on Karnataka Bank for violating regulatory norms

Notably, the massive Rs 14,000 crore fraud at the PNB was a case of misuse of this messsaging software. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IR90...

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Switzerland is redesigning one of world’s most valuable currency note

The revamping of the top Swiss currency note comes against international criticism of such large denomination notes of world’s top currencies aiding crime and tax evasion, Bloomberg reported from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2XAd6...

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IDBI Bank invites application for two deputy MDs

Currently, there are two DMDs at the bank - KP Nair and GM Yadwadkar who are due for retirement soon. from Banking/Finance-Industry-Economic Times https://ift.tt/2tT3x...

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DBS Bank India eyes four-fold growth in five years

Last week, the Reserve Bank had approved the Singaporean lender's proposal to become a wholly-owned subsidiary (WoS) and on Monday it announced the official launch of its locally incorporated unit - DBS Bank India. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2VBy1...

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RBI slaps Rs 4 crore fine on Karnataka Bank for violating regulatory norms

Notably, the massive Rs 14,000 crore fraud at the PNB was a case of misuse of this messsaging software. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IR90...

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Switzerland is redesigning one of world’s most valuable currency note

The revamping of the top Swiss currency note comes against international criticism of such large denomination notes of world’s top currencies aiding crime and tax evasion, Bloomberg reported from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2XAd6...

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RBI imposes Rs 8 crore fine on 3 banks for non-compliance in Swift operations

Karur Vysya said that the RBI has imposed a monetary penalty of Rs 1 crore on the bank for non-compliance with the directions issued on Swift operations. from Banking/Finance-Industry-Economic Times https://ift.tt/2GZyB...

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Central Bank puts Bhushan Power, Essar Steel accounts up for sale to recover bad loan dues

According to the bid document, Bhushan Power & Steel has an outstanding of Rs 1,550.07 crore towards the bank. from Banking/Finance-Industry-Economic Times https://ift.tt/2NIEt...

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Central Bank puts Bhushan Power, Essar Steel accounts up for sale

State-owned Central Bank of India has put up for sale four stressed accounts, including Bhushan Power & Steel and Essar Steel India, to recover d from Business Line - Money & Banking https://ift.tt/2Tr93...

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IDBI Bank receives nod to handle import, exports transactions with Iran: Sources

According to sources, IDBI Bank has been identified to route the payments. UCO Bank had in the previous round of sanctions handled rupee payments. from Banking/Finance-Industry-Economic Times https://ift.tt/2HeNl...

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RBI slaps Rs 4 crore fine on Karnataka Bank

The Reserve Bank of India has levied an aggregate penalty of Rs 40 million on the bank for delayed implementation of four of the Swift related operational controls. from Banking/Finance-Industry-Economic Times https://ift.tt/2C5Bh...

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Kotak Bank partners with C2FO for tech solution

Private sector Kotak Mahindra Bank on Monday announced a tie-up with C2FO for risk-free solution to manage working capital more efficiently.The bank’s from Business Line - Money & Banking https://ift.tt/2IOOA...

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DBS Bank’s locally incorporated subsidiary launched

DBS Bank on Monday announced the launch of its locally incorporated wholly-owned subsidiary, DBS Bank India Ltd (DBIL).DBIL intends to establish over from Business Line - Money & Banking https://ift.tt/2TpW0...

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LIC Housing Fin ties up with India Mortgage Guarantee Corpn for home loans

LIC Housing Finance Ltd (LICHFL) on Monday said it has partnered India Mortgage Guarantee Corporation (IMGC) to offer home buyers enhanced loan eligib from Business Line - Money & Banking https://ift.tt/2IR8B...

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Bharti AXA General launches service for fast vehicle claim settlement

The company is aiming to process 20-25 per cent of its total vehicle insurance claims in the first year through the service. from Banking/Finance-Industry-Economic Times https://ift.tt/2tNk4...

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Medical expenses, EMI financing tops chart for reasons of millennial loans

Bengaluru, Mumbai ranked top metros for millennial credit demand from Business Line - Money & Banking https://ift.tt/2EtcY...

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India Inc foreign borrowing down 45% at $2.42 billion in January

Of the total borrowings during the month, $2.27 billion was raised through the automatic route of the ECBs. The remaining $150 million was taken through the approval route, as per the Reserve Bank data on ECB for January 2019. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2HdoU...

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HDFC Bank hikes late fee on credit card bill payment

HDFC Bank has revised the charges for late payment of credit card bill with effect from April 1, 2019. The late payment charges will be applicable for from Business Line - Money & Banking https://ift.tt/2C58x...

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Focusing deposits, State Bank of Mauritius plans major branch expansion

State Bank of Mauritius is targeting to grow its deposit base in the country now, and will grow its branch network by four-times to 16 in two years, top officials have said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2GWHd...

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Focusing deposits, State Bank of Mauritius plans major branch expansion

State Bank of Mauritius is targeting to grow its deposit base in the country now, and will grow its branch network by four-times to 16 in two years, top officials have said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2GWHd...

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Motor vehicle insurance: Bharti AXA introduces Smart eSurvey for quicker claims settlement

Bharti AXA General Insurance, a private general insurer, is leveraging technology to ensure convenience and speedier vehicle insurance claims settleme from Business Line - Money & Banking https://ift.tt/2C0rD...

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Focusing deposits, State Bank of Mauritius plans major branch expansion

State Bank of Mauritius is targeting to grow its deposit base in the country now, and will grow its branch network by four-times to 16 in two years, top officials have said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2GWHd...

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Loan against mutual fund units: All you need to know

The loan can be availed via online or offline modes. Application process involves marking of lien on the mutual fund units in favour of the bank/financing institution. Once lien is marked, the units cannot be sold or redeemed by the investor. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Hc08...

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PSU banks' loan portal off to a flying start

The platform has “approved” loans worth more than Rs 30,000 crore since the November launch, according to the March 1 report. from Banking/Finance-Industry-Economic Times https://ift.tt/2GW68...

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Grant Thornton flags? Rs 13,000 crore IL&FS dealings as suspect

Interim report details 10 major anomalies while grouping transactions and sums involved. from Banking/Finance-Industry-Economic Times https://ift.tt/2UljO...

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Unable to pay up? Top bidder to face penalty under new rule of insolvency regulation

“After the amendment, Section 74 of the insolvency code prescribes stringent punishment to resolution applicant if it fails to implement a plan,” said Shiju Veetil, senior partner at IndiaLaw. from Banking/Finance-Industry-Economic Times https://ift.tt/2C2JV...

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Custodian banks stumped by depository ownership queries

​​The custodians are required to give an official undertaking that none of the holders qualify as Significant Beneficial Owners. from Banking/Finance-Industry-Economic Times https://ift.tt/2XBKj...

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Central Bank of India puts bad loans on block

Bank to sell Rs 3,325 crore bad loan accounts, including Essar Steel and Bhushan Power and Steel, to keep provisions low. from Banking/Finance-Industry-Economic Times https://ift.tt/2SChT...

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ED quizzes Chanda Kochhar for 3rd day in moneylaundering case

Ambit of probe expanded: Matrix Group chairman & Ruia’s son-in-law Nishant Kanodia also questioned. from Banking/Finance-Industry-Economic Times https://ift.tt/2Hflv...

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