How tens of thousands of people lost their hard-earned savings in IMA Jewels scam

IMA invited customers to invest money in multiples of Rs 50,000. They were promised monthly returns of 2-3%, and were told this was the dividend from trading in bullion and jewels.

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

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Defaulting educational institutions: Trusts, societies should be brought under IBC, says Indian Bank chief

Public sector Indian Bank on Saturday requested the Insolvency and Bankruptcy Board of India to ensure that trusts and societies are brought under th

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Supreme Court stays payment obligation under option contract in IL&FS Securities case

The obligations in all other contracts have been duly settled in the normal course on the appointed settlement date, NSE Clearing said.

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Syndicate Bank to raise up to ₹ 500 cr this fiscal

State-owned Syndicate Bank said on Saturday it will raise ₹ 500 crore during this fiscal by various means, including QIP or preferential allotment.Th

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Deutsche Bank may cut up to 20,000 jobs in major revamp plan

The bank’s supervisory board to meet on July 7 to discuss extensive overhaul

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Facebook’s digital currency Libra may flourish where banks don’t

In developing countries, many tens of millions still live far from a bank or money transfer center, or currently use a currency prone to inflation or volatility.

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Ujjivan SFB ranked among best companies to work for in India

Ujjivan Small Finance Bank has been ranked sixth among India’s Best Companies to Work For, 2019 by the Great Place To Work Institute.Ujjivan was also

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SBI targets Rs 20,000 cr home loan disbursal in Karnataka

Says under 35 years are the biggest customers in Bengaluru

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Reliance Home Finance extends maturities on ₹400 cr NCDs by 4 months

Reliance Home Finance Ltd (RHFL), a subsidiary of Anil Ambani-led Reliance Capital, has extended the maturity of certain Non Convertible Debentures (N

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DHFL resolution: Lenders to start work as per RBI guidelines, says SBI chairman

Resolution plan to be based on RBI’s June 7 circular for stressed assets.

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Microfinance companies expand reach; Bengal, Tamil Nadu most penetrated

West Bengal, TN are most penetrated; Bandhan and CreditAccess offer good prospects.

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DHFL resolution: Lenders to start work as per RBI guidelines, says SBI chairman

Resolution plan to be based on RBI’s June 7 circular for stressed assets.

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Microfinance companies expand reach; Bengal, Tamil Nadu most penetrated

West Bengal, TN are most penetrated; Bandhan and CreditAccess offer good prospects.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2xkW9ou

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Need for greater surveillance over large housing companies and NBFCs, says RBI

GNPAs of the NBFC sector as a percentage of total advances increased to 6.6% in 2018-19 from 5.8% in 2017-18.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YcPtV7

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Banks’ gross NPAs may fall to 9% by March 2020: RBI

PSBs’ GNPA ratio may fall to 12% under baseline scenario; for private banks, it may decline to 3.2%.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YeM1cp

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Why life insurers must focus on training agents

Rapid growth in new business requires agents to be trained and made productive irrespective of growth in the online or digital marketing.

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

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Micro ATMs a big hit in rural India, transactions in May touch 33.5 million

With an annual growth rate of 150% since 2016, the Aadhar-Enabled Payments Channel (AEPS), which falls under the broader category of micro-ATMs, has emerged as one of the fastest growing payments systems in the country.

from Banking/Finance-Industry-Economic Times https://ift.tt/2RG9WPR

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Need for greater surveillance over large housing companies and NBFCs, says RBI

GNPAs of the NBFC sector as a percentage of total advances increased to 6.6% in 2018-19 from 5.8% in 2017-18.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YcPtV7

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Banks’ gross NPAs may fall to 9% by March 2020: RBI

PSBs’ GNPA ratio may fall to 12% under baseline scenario; for private banks, it may decline to 3.2%.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YeM1cp

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Why life insurers must focus on training agents

Rapid growth in new business requires agents to be trained and made productive irrespective of growth in the online or digital marketing.

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

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Need for greater surveillance over large housing companies and NBFCs, says RBI

GNPAs of the NBFC sector as a percentage of total advances increased to 6.6% in 2018-19 from 5.8% in 2017-18.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YcPtV7

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Banks’ gross NPAs may fall to 9% by March 2020: RBI

PSBs’ GNPA ratio may fall to 12% under baseline scenario; for private banks, it may decline to 3.2%.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YeM1cp

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Why life insurers must focus on training agents

Rapid growth in new business requires agents to be trained and made productive irrespective of growth in the online or digital marketing.

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

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Crises at NBFCs, HFCs big threat to markets: RBI

RBI calls for supervising shadow lenders, says banking system’s risks have decreased.

from Banking/Finance-Industry-Economic Times https://ift.tt/2X8Uahs

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Need for greater surveillance over large housing companies and NBFCs, says RBI

GNPAs of the NBFC sector as a percentage of total advances increased to 6.6% in 2018-19 from 5.8% in 2017-18.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YcPtV7

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Banks’ gross NPAs may fall to 9% by March 2020: RBI

PSBs’ GNPA ratio may fall to 12% under baseline scenario; for private banks, it may decline to 3.2%.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YeM1cp

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Why life insurers must focus on training agents

Rapid growth in new business requires agents to be trained and made productive irrespective of growth in the online or digital marketing.

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

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Need for greater surveillance over large housing companies and NBFCs, says RBI

GNPAs of the NBFC sector as a percentage of total advances increased to 6.6% in 2018-19 from 5.8% in 2017-18.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YcPtV7

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Banks’ gross NPAs may fall to 9% by March 2020: RBI

PSBs’ GNPA ratio may fall to 12% under baseline scenario; for private banks, it may decline to 3.2%.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YeM1cp

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Why life insurers must focus on training agents

Rapid growth in new business requires agents to be trained and made productive irrespective of growth in the online or digital marketing.

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

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Need for greater surveillance over large housing companies and NBFCs, says RBI

GNPAs of the NBFC sector as a percentage of total advances increased to 6.6% in 2018-19 from 5.8% in 2017-18.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YcPtV7

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Banks’ gross NPAs may fall to 9% by March 2020: RBI

PSBs’ GNPA ratio may fall to 12% under baseline scenario; for private banks, it may decline to 3.2%.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YeM1cp

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Why life insurers must focus on training agents

Rapid growth in new business requires agents to be trained and made productive irrespective of growth in the online or digital marketing.

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

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Need for greater surveillance over large housing companies and NBFCs, says RBI

GNPAs of the NBFC sector as a percentage of total advances increased to 6.6% in 2018-19 from 5.8% in 2017-18.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YcPtV7

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Banks’ gross NPAs may fall to 9% by March 2020: RBI

PSBs’ GNPA ratio may fall to 12% under baseline scenario; for private banks, it may decline to 3.2%.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YeM1cp

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Why life insurers must focus on training agents

Rapid growth in new business requires agents to be trained and made productive irrespective of growth in the online or digital marketing.

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

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Indians’ money in Swiss banks at second-lowest level in 2 decades

Money parked by Indian individuals and enterprises in Swiss banks, including through Indian branches, fell by nearly 6 per cent in 2018 to 955 milli

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Despite NBFC crisis, financial system stable: RBI report

Sharp fall in the system-wide NPAs to 9.3% in March

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Falling bond sales signal waning trust in NBFCs

Waning investor confidence in the country’s troubled shadow lenders is sapping demand for corporate debt.Companies sold ₹1.2-lakh crore ($17.3 billio

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

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Mudra loans, too, need a stressed asset fund on the lines of one for MSMEs

There have been increasing concerns about the rapid rise in disbursal of Mudra loans not withstanding the surge in non-peforming assets

from Business Line - Money & Banking https://ift.tt/2X0XJpO

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Indian banks have been under-reporting frauds: RBI

As a fallout of this, the RBI is now reviewing its master direction on frauds and considering additional measures for timely recognition of frauds and enforcement action against violations.

from Banking/Finance-Industry-Economic Times https://ift.tt/300BwdB

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Axis bank looks at mega stake sale to raise $1.3 billion so that it can lend more

The deal would help the Mumbai-based lender enhance risk buffers and support loan growth at a time when shadow banks in the country are battling a liquidity crunch due to rising wariness in the nation’s credit market.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2J8qtIb

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PNB fraud case: Swiss authorities freeze four bank accounts of Nirav Modi, sister

The ED, they said, made the request to the Swiss authorities sometime back and sent an official request under the criminal provisions of the Prevention of Money Laundering Act (PMLA).

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Money of Indians in Swiss banks falls by 6%

Money parked by Indian individuals and enterprises in Swiss banks, including through India-based branches, fell by nearly 6 per cent in 2018 to 955 million Swiss francs (about Rs 6,757 crore) to hit its second-lowest level in over two decades, Swiss National Bank data showed on Thursday.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2KFfN79

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Axis bank looks at mega stake sale to raise $1.3 billion so that it can lend more

The deal would help the Mumbai-based lender enhance risk buffers and support loan growth at a time when shadow banks in the country are battling a liquidity crunch due to rising wariness in the nation’s credit market.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2J8qtIb

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PNB fraud case: Swiss authorities freeze four bank accounts of Nirav Modi, sister

The ED, they said, made the request to the Swiss authorities sometime back and sent an official request under the criminal provisions of the Prevention of Money Laundering Act (PMLA).

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31YxILC

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Govt asks banks to appoint GM-level officer to address MSME sector woes

MSME sector has been a focus of the Narendra Modi government as it plays a critical role in promoting economic growth.

from Banking/Finance-Industry-Economic Times https://ift.tt/2X8Epa1

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LIC’s new business premium grows 5.68 per cent to Rs 1.42 lakh crore in FY19

There was a 38 per cent growth in premiums collected through digital means

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Canara Bank GM Sarada Kumar Hota appointed as National Housing Bank MD

The appointment comes 9 months after Sriram Kalyanaraman's forced resignation amid allegations of irregularities and misconduct against him.

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

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Sarada Kumar Hota appointed National Housing Bank MD

Canara Bank General Manager Sarada Kumar Hota has been appointed as the managing director of the National Housing Bank (NHB), the finance ministry sa

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Loan schemes don’t reach 59 per cent of rural India: Survey

Farmers were unable to avail any kind of loan due to lack of proper information

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UK court extends Nirav Modi's remand till July 25

A UK court on Thursday extended till July 25 the remand of fugitive diamond merchant Nirav Modi, who is wanted in India in connection with the nearly $2 billion Punjab National Bank (PNB) fraud and money laundering case.

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Axis Bank considers $1.3 billion share sale

Axis Bank is considering raising at least $1.3 billion through a share sale to institutional investors, according to the sources, as the private lend

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How chatbots are mPOWER-ing digital lending in India

Technology is shattering a long held need to talk to someone before you take a financial decision or before you apply for a personal loan, gold loan or an au...

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Nirav, sister's bank a/c frozen by Swiss authories

Four Swiss bank accounts of fugitive diamond merchant Nirav Modi and his sister Purvi frozen by Switzerland authorities as part of money laundering probe, news agency PTI reported citing Enforcement Directorate (ED) sources.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2X1AD2s

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NBFC crisis: Icra cuts Piramal Cap’s long-term rating to AA

The agency cut ratings of non-convertible debentures, subordinated (Tier-II) bonds, long-term funds-based limits and long-term loans to AA from AA+,amounting to Rs 20,867 crore.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2X7qJBc

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PSU banks may get Rs 40,000 cr capital; Rs 5,000 cr infusion likely for 3 insurers

With uncertainties hovering around the amount of surplus transfer from the Reserve Bank of India to the government, the capital infusion into PSBs in FY20 will most likely be through recap bonds again.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2J7eZF5

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Government not keen to provide any additional capital to IDBI bank

IDBI had reported a loss of Rs 4,918 crore in the last quarter of FY19 and Rs 15,116 crore for the full year.

from Banking/Finance-Industry-Economic Times https://ift.tt/2NdZ0Kw

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IL&FS board to consider release of payments to creditors

An apppellate tribunal had set July 12 as deadline for the IL&FS group to reach an agreement with creditors of these 13 companies to begin releasing payments.

from Banking/Finance-Industry-Economic Times https://ift.tt/2IR9T0F

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Bajaj Allianz Life expects biz from pension to jump to 15-18% in FY'20

Pension currently contributes mere one per cent now in the total first premium income.

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

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RBI says all coins must be accepted as legal tender

The Reserve Bank of India (RBI) on Wednesday asked the public, casting aside their doubts, to continue accepting coins of various denominations pumped into circulation regularly. The RBI puts into circulation coins minted by the central government.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2IP6GyM

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Max Bupa in pact with MobiKwik for health insurance

Bite-sized insurance offerings, which are essentially easy to buy, over the counter health insurance products, are picking up pace in India.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Yg4c1p

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Concern around NPAs is a little overdone: Ravneet Gill

YES Bank CEO rules out plans to sell large NPAs

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FBAs should have ₹1-cr networth and be India-incorporated, mandates RBI

The Reserve Bank of India on Wednesday said Financial Benchmark Administrators (FBAs) administering ‘significant benchmarks’ in the markets for finan

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‘Coins of various denominations continue to be legal tender’

The Reserve Bank has appealed to members of the public not to give credence to rumours regarding the genuineness of coins of 50 paise, ₹1, ₹2, ₹5 and

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Canara Bank to raise ₹1,500 cr via bonds

State-owned Canara Bank on Wednesday said it has proposed to raise ₹1,500 crore through bonds, to fund business growth. The bank plans to raise the f

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

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Max Bupa partners with MobiKwik to sell bite-sized health insurance products

 Max Bupa, a standalone health insurer, has entered into a strategic partnership with MobiKwik, a fintech platform, to promote affordable and convenie

from Business Line - Money & Banking https://ift.tt/2Xb4076

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Data related to payments to be stored only in India: RBI

The Reserve Bank on Wednesday said all data related to payments must be stored only in India and data processed abroad will have to be brought back to the country within 24 hours.

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NHB lowers refinance rates in order to transmit the policy rate cuts

Earlier this month the Reserve Bank of India (RBI) had announced a 25 basis points or 0.25% rate cut for a third time in a row.

from Banking/Finance-Industry-Economic Times https://ift.tt/2J7psjP

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HDFC Bank picks up BofA, Morgan Stanley for HDB Financial IPO

The bank plans to sell shares in HDB Financial Services in a deal that may raise about ₹10,000 crore

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Data related to payments to be stored only in India: RBI

The Reserve Bank of India (RBI) on Wednesday said all data related to payments must be stored only in India. It also stated that the data processed a

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NCLAT asks Amtek Auto lenders to consider bids of Deccan Value Investors

"We have not allowed the committee of creditors or resolution professional to issue fresh information memorandum or invitation calling for more applications," said NCLAT.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Xz1gjx

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UCO Bank targets Rs 8,000 crore recovery in FY20

"We set a target of at least Rs 2,000 crore of recovery per quarter and by this, we aim at recovering Rs 8,000 crore in the entire year," the bank's MD and CEO A.K. Goel said.

from Banking/Finance-Industry-Economic Times https://ift.tt/31UET7j

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Multi-crore bank fraud: ED attaches assets worth over Rs 9,000 cr in Sterling Biotech PMLA case

The officials said a provisional order of attachment was issued by the central probe agency under the Prevention of Money Laundering Act (PMLA).

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ycuh1q

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Amount involved in bank frauds of above Rs 1 lakh on decline

Enactment of the Fugitive Economic Offenders Act, 2018 as well as authorisation to PSBs to obtain certified copy of passport of promoters/directors of companies availing loans of more than Rs 50 crore are among other measures that have been adopted by the government.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2NcZEI9

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CBDT directs I-T dept to share assets, accounts info of loan defaulters with banks

The CBDT has directed the Income Tax (I-T) department to share in "public interest" details of assets and accounts of all such loan defaulters against whom a public sector bank has made a plea to it.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2KAW3l2

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Bitcoin tops $12,000 level for first time since January 2018

Bitcoin continued its torrid rally on Wednesday, surpassing the $12,000 level for the first time in almost a year and a half.The largest cryptocurren

from Business Line - Money & Banking https://ift.tt/2Ydoc51

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RBI panel proposes Rs 10,000 crore government fund to develop MSMEs

A panel constituted by the Reserve Bank of India (RBI) to suggest measures to develop micro, small and medium enterprises (MSMEs) has proposed a Rs 10,000-crore government fund. The idea is that this will support venture capital and private equity funds investing in the MSME sector.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2RB7MRc

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Government pays back some IL&FS lenders, may have to shell out Rs 250 crore more

IL&FS group companies have an outstanding debt of over Rs 91,000 crore.

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

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Housing finance companies asked to raise capital adequacy to 15 %

The public deposits being taken by eligible HFCs are capped at three times of their NOF, according to the notification.

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

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The liquidity debate: Surplus or deficit?

There's a realisation in the RBI that its liquidity framework needs a revamp, so there comes a new panel. ET explains why the time has come to effect a change.

from Banking/Finance-Industry-Economic Times https://ift.tt/2X06rEF

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Indian Accounting Standards may pose challenge for new IL&FS management

IL&FS’ audit panel closely monitoring preparation of financial statements of 3 group cos- IL&FS, IL&FS Financial Services (IFIN) and IL&FS Transportation Network (ITNL).

from Banking/Finance-Industry-Economic Times https://ift.tt/31ThCmr

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Acharya’s departure: RBI union moots collegium to select central bank heads

The All India Reserve Bank Employees Association (AIRBEA) has expressed anguish over the ‘premature departure’ of Viral Acharya, the ‘youngest and mo

from Business Line - Money & Banking http://bit.ly/2IN9qg9

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ICICI Bank eyes 20% growth in retail loans in Kerala this fiscal

Will rapidly step up disbursement of consumer and mortgage loans

from Business Line - Money & Banking http://bit.ly/2Yf4wOa

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YES Bank bets on OD portal to push MSME loans

Our Bureau YES Bank is targeting a disbursement of ₹100 crore during financial year 2019-20 through the bank’s MSME portal. The bank’s total exposure

from Business Line - Money & Banking http://bit.ly/2IIRCT2

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DHFL defaults on ₹225-crore unsecured commercial papers

Troubled Dewan Housing Finance (DHFL) on Tuesday said it has defaulted on unsecured commercial paper of ₹225 crore and it will be paid over the next f

from Business Line - Money & Banking http://bit.ly/2YbUQ75

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Bond rally at risk on delayed cash transfer from the central bank

Bond traders in the country are a worried lot as a six-week rally is coming to an end.An official said that a central bank panel would only make its r

from Business Line - Money & Banking http://bit.ly/2X4pFsS

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Indian Overseas Bank to focus on robust policy framework

The total business of the bank stood at Rs 3,74,530 crore as of March 2019 as against Rs 3,67,831 crore as of FY 2018.

from Banking/Finance-Industry-Economic Times http://bit.ly/2J4ezz1

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Amount involved in bank frauds of above Rs 1 lakh on decline

Banks and select financial institutions reported to RBI that frauds of Rs 1 lakh and above amounting to Rs 25,884 crore occurred during 2016-17 .

from Banking/Finance-Industry-Economic Times http://bit.ly/2Nr62fh

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Amount involved in bank frauds of above Rs 1 lakh on decline

The amount lost in bank frauds of Rs 1 lakh and above has been on a decline since 2016-17, Parliament was informed on Tuesday. Banks and select financial institutions reported to RBI that frauds of Rs 1 lakh and above amounting to Rs 25,884 crore occurred during 2016-17.

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

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Govt, RBI closely monitoring rupee exchange rate: Sitharaman

The government and the RBIare closely monitoring the rupee exchange rate against the dollar on an on-going basis, Finance Minister Nirmala Sitharama

from Business Line - Money & Banking http://bit.ly/2XC8OBU

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Bank frauds of above Rs 1 lakh on decline : Finance Ministry

Comprehensive measures have been taken to tighten fraud prevention systems and deter perpetration of frauds in banks, said Nirmala Sitharaman

from Business Line - Money & Banking http://bit.ly/2X0ogn1

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Bank NPAs may reduce to 8% by March 2020: Report

Higher recoveries and slowdown in fresh bad loans are likely to reduce banks non-performing loans (NPAs) to nearly 8 per cent by March 2020, says a report.

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

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ICICI Bank targets over 20% growth in retail loans in Kerala

Though one-third of the share of consumer loans is accounted by tier1 cities, the demand is growing rapidly in tier 2 and 3 cities.

from Banking/Finance-Industry-Economic Times http://bit.ly/2ZOXUq5

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Gross NPAs of banks may reduce to eight per cent by March 2020: Report

NPA in the banking system had peaked at 11.5 per cent in March 2018

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

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Gross NPAs of banks may reduce to 8% by March 2020: Report

NPA in the banking system had peaked at 11.5 per cent in March 2018 and then declined to 9.3 per cent in March 2019.

from Banking/Finance-Industry-Economic Times http://bit.ly/2RyBo1O

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JM Financial’s private equity fund to invest Rs 40 crore in Isthara Parks

Proceeds from the investment will support the expansion in existing markets Hyderabad, Bangalore and the NCR

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

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ICICI Bank eyeing 20 per cent growth in retail loan disbursement in Kerala FY20

ICICI bank as disbursed loans to over 12,900 self help groups

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

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Open raises Rs 210 cr in Series B round from Tiger Global

, 2019Bengaluru based, neo-banking start-up, Open, which offers a business banking service for SMEs and start-ups, has raised Rs 210 crore ($30 millio

from Business Line - Money & Banking http://bit.ly/31UhR0o

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Number of wilful defaulters in nationalised banks up 60 per cent to 8,582 in 5 years

The minister was replying to a question whether the cases of wilful defaulters of banks have increased during the last five years.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Y9gaKt

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Mehul Choksi could be extradited to India: Antigua PM

Bank fraud fugitive Mehul Choksi may be extradited to India after Antigua's Prime Minister Gaston Browne said the citizenship of the billionaire diamond trader will be revoked by the Caribbean country after he exhausts all his legal options, according to a media report.

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

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RBI site to accept plaints against banks, finance companies

The Reserve Bank of India (RBI) has introduced a complaint management system (CMS) on its website through which customers can obtain redressal of their grievances against all financial service providers regulated by the central bank.

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

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Debit cards show up more at retail stores, less at ATMs

ATM transactions were just 66% of total debit card use in April; lowest was 60% in December 2016.

from Banking/Finance-Industry-Economic Times http://bit.ly/2X58tID

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Piramal Capital looks to raise $400 million via offshore loan

Under the current circumstances, any Indian company with a fair share of builder loans has to walk the extra mile to raise overseas credit.

from Banking/Finance-Industry-Economic Times http://bit.ly/2WWQRK1

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JM Financial to buy significant minority stake in Coimbatore’s Isthara Parks

JM Financial is raising 1,000 crore for its second private equity fund, a sector-agnostic investment vehicle.

from Banking/Finance-Industry-Economic Times http://bit.ly/2XtND4Z

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Bajaj Allianz Life Insurance to enter health and pension products in a big way: CEO

Move follows survey results that showed fitness and health form key life goals of Indians

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

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RBI’s customer-complaint processing goes digital

Complaint Management System, accessible on desktop & mobile devices, unveiled

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

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Federal Bank wants to be high on governance, financial performance axis: CEO

Surabhi / K Ram KumarFederal Bank plans to double its business (deposits plus advances) to ₹5-lakh crore in the next four years by stepping up focus o

from Business Line - Money & Banking http://bit.ly/2X2BGz8

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NHB’s revised guidelines will boost housing sector: Crisil

The National Housing Bank’s (NHB) new framework for housing finance companies (HFCs) will structurally strengthen the sector and increase investor con

from Business Line - Money & Banking http://bit.ly/2ZNID95

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What led to ‘outspoken’ Viral Acharya’s exit?

With the Deputy Governor having quit, the Govt will have to quickly find a replacement

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

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NBFC sanctions fell 31 per cent in Q4: FIDC-CRIF

The data reveal that the drop in sanctions started from the third quarter of 2018-19

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

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RBI launches CMS for filing online complaints against banks, NBFCs

Customers can lodge complaints against any regulated entity with public interface such as commercial banks, urban cooperative banks, NBFCs.

from Banking/Finance-Industry-Economic Times http://bit.ly/2xd3A0Q

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‘Number of wilful defaulters inPSBs up 60% to 8,582 in 5 years’

The number of wilful defaulters in nationalised banks has increased by over 60 per cent to 8,582 in five years to March 2019, the government said on M

from Business Line - Money & Banking http://bit.ly/2X0BzUs

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UK’s Lloyds bank freezes 8,000 offshore accounts

Britain’s Lloyds Banking Group has frozen 8,000 customer accounts under a wider crackdown on money-laundering. Lloyds froze the accounts after failing

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

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No. of wilful defaulters in nationalised banks up 60%

The number of wilful defaulters in nationalised banks has increased by over 60% to 8,582 in five years to March 2019, the government said. By the end of 2014-15 fiscal, the figure stood at 5,349, finance minister Nirmala Sitharaman said in a written reply in LS. A wilful defaulter is an entity or a person that has not paid the loan back despite the ability to repay it.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2J9mNG6

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Piramal Enterprises plans to sell entire 20 per cent stake in Shriram Capital

Piramal Enterprises on Monday said it is planning to sell its entire holding of around 20 per cent stake in Shriram Capital Ltd to fund growth of it

from Business Line - Money & Banking http://bit.ly/2X3QuSN

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Evaluating selling entire 20% stake in Shriram Capital: Piramal Enterprises

In 2013, the company had initially picked up 9.9 per cent stake Shriram Capital for Rs 1,636 crore and later in the next year increased it to effectively 20 per cent with an outlay of Rs 2,014 crore.

from Banking/Finance-Industry-Economic Times http://bit.ly/2WWx8dC

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RBI dy guv Viral Acharya quits: 10 things to know

Reserve Bank of India (RBI) deputy governor Viral Acharya has decided to step down six months before the scheduled end of his three-year term. This is the second high-profile exit in the past seven months after former RBI chief Urjit Patel resigned abruptly in December last year. Speculation about Acharya's exit had started on the day of Patel's resignation, forcing the RBI to deny it then.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2Nbz7em

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RBI panel defers reserves report for fourth time

A Reserve Bank of India (RBI) panel deciding on guidelines for transfer of the central bank’s surplus funds to the government has further delayed submitting its report, an official said on Monday.

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

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Modi govt plans more features to flagship schemes to push inclusion

Govt working on adding new features to Jan Dhan, Mudra, Suraksha Bima Yojana and Atal Pension schemes.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2x7xsvu

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Acharya: A strong votary of central banks’ independence

Viral Acharya was a strong believer in the central bank’s independence and autonomy, which he considered crucial for economic progress and financial

from Business Line - Money & Banking http://bit.ly/2X1FYqg

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IndusInd Bank promoters to infuse Rs 2.7k crore

The Hindujas will pump another Rs 2,700 crore into IndusInd Bank through a warrant issue to ramp up the promoter holding after the merger of Bharat Financial, a senior executive from the private lender has said.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2L7QABE

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Modi govt plans more features to flagship schemes to push inclusion

Govt working on adding new features to Jan Dhan, Mudra, Suraksha Bima Yojana and Atal Pension schemes.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2x7xsvu

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Modi govt plans more features to flagship schemes to push inclusion

Govt working on adding new features to Jan Dhan, Mudra, Suraksha Bima Yojana and Atal Pension schemes.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2x7xsvu

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Solvency fears weigh on markets: Uday Kotak

Kotak Mahindra Bank vice-chairman and managing director Uday Kotak has said that concerns of solvency of some institutions are weighing on markets. There is, however, no systemic risk yet, he added.

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

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RBI Deputy Governor Viral Acharya quits

The in-charge of monetary policy department resigns six months before his term ends

from Business Line - Money & Banking http://bit.ly/31SixmT

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RBI deputy governor Viral Acharya quits, to return to academia

Reserve Bank of India (RBI) deputy governor Viral Acharya has put in his papers six months before his term ends on January 20, 2020. Acharya, who joined RBI from New York University’s Stern School of Business, was a close aide of former governor Urjit Patel and it was his fiery speech in October 2018 that brought out the differences between RBI and the government.

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

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6 PE funds make the cut for 26% in SBI General

The stake sale by Insurance Australia Group (IAG) will value SBI General Insurance at Rs 12,000 crore.

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

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Politicians need to move fast as tech firms like Facebook moving into finance: BIS

The social media group's announcement last week that it wants to expand into payments and launch its own coin Libra has focused minds of regulators and central bankers, the BIS said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Ya86Jo

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IndusInd Bank promoters to infuse Rs 2,700 cr via warrants

The merger between the bank and the micro-lender, which will be effective July 4, is accretive from a profit, marginand return on equity perspective.

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

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Politicians need to move fast as tech firms like Facebook moving into finance: BIS

The social media group's announcement last week that it wants to expand into payments and launch its own coin Libra has focused minds of regulators and central bankers, the BIS said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Ya86Jo

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IndusInd Bank promoters to infuse Rs 2,700 cr via warrants

The merger between the bank and the micro-lender, which will be effective July 4, is accretive from a profit, marginand return on equity perspective.

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

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Politicians need to move fast as tech firms like Facebook moving into finance: BIS

The social media group's announcement last week that it wants to expand into payments and launch its own coin Libra has focused minds of regulators and central bankers, the BIS said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Ya86Jo

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Politicians need to move fast as tech firms like Facebook moving into finance: BIS

The social media group's announcement last week that it wants to expand into payments and launch its own coin Libra has focused minds of regulators and central bankers, the BIS said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Ya86Jo

Read more »

IndusInd Bank promoters to infuse Rs 2,700 cr via warrants

The merger between the bank and the micro-lender, which will be effective July 4, is accretive from a profit, marginand return on equity perspective.

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

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IBA finalises revised inter-creditor agreement

In keeping with the Reserve Bank of India’s (RBI) ‘Prudential Framework for Resolution of Stressed Assets’, the Indian Banks’ Association (IBA) has pu

from Business Line - Money & Banking http://bit.ly/2Kzxi8O

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IFCI hopes to raise about ₹3,000 cr via stake sale in NSE, two other firms this year

State-owned specialised financial institution IFCI Ltd hopes to garner about ₹3,000 crore during the current fiscal by selling stake in the Natio

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

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NBFC crisis not a systemic risk: Uday Kotak

A slowing growth in the GDP and the limited fiscal space are some of the challenges that India is facing, and there is a need to take bold steps to re

from Business Line - Money & Banking http://bit.ly/2WUBXE5

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India’s washed-out matches at Cricket World Cup 2019 may cost insurers Rs 100 crore

Not only fans, even insurance companies are praying to rain God to spare India’s remaining matches at the ongoing cricket World Cup as washed-out gam

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

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IndusInd Bank promoters to infuse Rs 2,700 cr via warrants

The Hindujas will pump another Rs 2,700 crore into IndusInd Bank through a warrant issue to ramp up the promoter holding after the merger of Bharat F

from Business Line - Money & Banking http://bit.ly/2N3sOJN

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You can buy a standalone ‘own damage’ motor policy from September 1

The policy can be issued or renewed only if a motor third-party cover is already in existence or is taken simultaneously, says IRDAI

from Business Line - Money & Banking http://bit.ly/2Fspa5P

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Insurers to make available standalone 'own damage' motor policy from September 1

Consequently, the issuance of bundled policies for cars and two-wheelers will not be compulsory from September 1, the Insurance Regulatory and Development Authority of India (Irdai) said.

from Banking/Finance-Industry-Economic Times http://bit.ly/31S0A8m

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De-merger, sale of 3 PSU insurers could be on cards

FinMin earlier considered merging three public sector general insurance firms to create one large and strong entity.

from Banking/Finance-Industry-Economic Times http://bit.ly/2N1CjJo

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