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Saturday, December 7, 2019

Amalgamated entity of 3 PSBs to retain sovereign status: UBI chief

Regarding the progress of the amalgamation process, he said it is "going on smoothly" and 34-odd committees, formed by the three banks, would submit their reports by the end of December.

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NTPC signs term loan of Rs 5,000 crore with SBI

The loan facility has been extended at an interest rate linked to 3-month MCLR of the bank.

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Nepal SBI post 13 percent growth in net profit for FY19

The bank succeeded in opening 76,568 new saving accounts during the last fiscal year.

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World Bank to reduce lending to China

The World Bank said Saturday its lending to China has fallen sharply and will continue to be pared back, after US President Donald Trump demanded it stop altogether.

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Nepal SBI post 13 per cent growth in net profit for FY19

The bank mobilised total deposit of Rs 9,72.44 crore and extended loans and advances of Rs 8,864.47 crore at the closing of the year, according to a statement issued by the bank ahead of its Annual General Meeting.

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Relief to bankers! Genuine business decisions won’t be questioned, says PM Modi

Before any action, scrutiny by serving finance or banking expert to be conducted.

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RBL Bank raises Rs 2,025 crore via QIP

Private sector lender RBL Bank on Friday announced that it had raised Rs. 2,025 crore via qualified institutional placement (QIP), which would be used to fund the growth of the bank.

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Government Fund for completing stalled housing projects achieves first closure at Rs 10,530 crore

The Special Window for Affordable and Mid-Income Housing Fund (SWAMIH) Investment Fund I, sponsored by the Government of India for providing last-mile

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NEFT to be available 24x7 from December 16: RBI

The Reserve Bank of India (RBI), on Friday, said the National Electronic Funds Transfer (NEFT) facility should be made available by member banks parti

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Consumer sentiment lowest in 5 years: Survey

The current situation index fell to 85.7 in November from 89.4 in September, according to the Reserve Bank of India’s consumer confidence survey, where 100 is the dividing line between pessimism and optimism. The future expectations gauge -- that takes into account the one-year ahead perceptions -- fell to 114.5 from 118.0.

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NCLT admits Bank of India's insolvency process against RNA Corp

The public sector lender had granted a loan of Rs 75 crore to RNA Corp in October 2013 and the builder defaulted on repayment of this loan in December 2014, since then the account has been classified as a non-performing asset. The bank has claimed total dues worth Rs 80.73 crore including the principal loan, interest, penal interest and legal expenses.

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Donald Trump calls on World Bank to stop lending to China



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Bank of India to raise up to Rs 10,000 cr through bonds, preference shares

Bank of India on Friday said it plans to raise up to Rs 10,000 crore by issuing bonds or preference shares in one or more tranches at an appropriate time.

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NEFT transactions to be available 24×7 from December 16

In a bid to promote digital transactions, the RBI on Friday said round-the-clock transactions will be allowed under the National Electronic Funds Transfer (NEFT) system from December 16.

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Friday, December 6, 2019

NEFT transactions to be made 24x7 from December 16

Bank customers will be able to transfer funds through NEFT around the clock on all days including weekends and holidays from December 16, the Reserve Bank of India announced on Friday.

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Edelweiss Tokio Life eyes 15 to 20% growth in new business premium for next few years: CEO

Edelweiss Tokio Life Insurance Company Ltd (ETLI) has embarked on a product rebalancing journey to have a more ‘wholesome’ product portfolio and offer

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Axis Bank CFO Jairam Sridharan quits

Axis Bank’s Chief Financial Officer Jairam Sridharan has resigned. “This is to inform you that Jairam Sridharan, Group Executive and Chief Financial

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RBI tightens norms for ARCs

Our BureauThe RBI, on Friday, said Asset Reconstruction Companies (ARCs) cannot acquire financial assets on a bilateral basis from a bank/ financial i

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RBI to retain dovish bias going forward, says DBS report

After five consecutive cuts in interest rates this year, the six-member Monetary Policy Committee (MPC), headed by RBI Governor Shaktikanta Das, unanimously voted to hold the key repo rate at 5.15 per cent and reverse repo rate at 4.90 per cent.

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DHFL bankruptcy: Irdai rules out troubles for two insurance arms; asks insurers to write off exposure

DHFL Pramerica Life, launched in 2008, is a joint venture between DHFL Investments, a wholly-owned arm of DHFL, and Prudential International Insurance Holdings of the US, has Rs 4,675 crore assets under management. DHFL General Insurance, on the other hand, is a fully-owned subsidiary of Wadhawan Global Capital, the holding company of the HDFL Group.

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Bank of America opens Global Business Services Centre at GIFT-IFSC

Lists bonds from IndusInd and YesBank on GIFT-IFSC platform other than Luxembourg and Singapore

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Bank of India closes Botswana subsidiary

Bank of India (BoI) on Friday said the banking licence of its wholly-owned subsidiary -- Bank of India (Botswana) Ltd -- has been surrendered to the R

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Corp Bank trade unions fear closure of branches post-merger

United Forum of Corporation Bank Unions (UFCBU) has expressed concern that the proposed merger of Corporation Bank and Andhra Bank with Union Bank of

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IRDAI chief: Insurance companies to follow procedure while writing off investments in DHFL

With the troubled Dewan Housing Finance Corporation Ltd now under the NCLT, insurance companies will have to begin writing off their investments in it

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IRDAI urges more insurance companies to list

Working on what to do with insurance companies post PSU bank consolidation

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Canara Bank Chairman: Consolidation is the way forward for Indian banking industry

Merger with Syndicate Bank will be seamless and there will be no job losses, says TN Manoharan

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Postmen, grameen dak sevaks may soon start selling insurance policies

The IPPB, which is a corporate agent, can seek permission from Irdai for sponsoring postmen and grameen dak sevaks of Department of Posts (DoP) to act as Point of Salesperson (PoS), Irdai said. ln case the authority grants permission, IPPB shall be responsible for all acts of omission and commission of the persons appointed as PoS, it added.

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After PMC Bank scam, RBI to tighten norms for urban co-op banks

RBI then came down heavily on the bank for the fraud, and imposed curbs including capping withdrawals at Rs 1,000, which was later enhanced to Rs 50,000 allowing over 78% of the customers to withdraw their entire account balance.

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Payments banks with 5-year experience can now convert to small finance banks

In August, FE had reported that PBs have requested RBI to allow them to lend money to their customers.

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RBI looking into reasons for digital banking outage at HDFC Bank

Responding to a query on whether RBI would come up with a framework to penalise banks for poor service, RBI deputy governor MK Jain said RBI was cognisant of the problem that happened on December 2 and it was because of technical glitches, which were resolved on Tuesday.

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RBL Bank raises Rs 2,025 crore through QIP

The issue saw strong demand from domestic as well as foreign qualified institutional buyers

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RBI throws open small finance bank doors to lenders

Non-banking finance companies, co-operative banks and payments banks can now convert into small finance banks (SFBs), which will help improve their reach and access to funds. The downside is that half of their loans will be for borrowers seeking to raise Rs 25 lakh or less as against regular commercial banks which don’t have this restriction.

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RBI monitoring NBFCs to prevent systemic shocks; better companies getting pre-IL&FS rates

Central bank’s watching the top 50 NBFCs much more closely and is making deep dive into their books, their balance sheets and other numbers wherever necessary, says Governor Shaktikanta Das. He said that RBI has a fairly good idea of where the vulnerabilities lie. It is holding periodic discussions with the management and promoters of NBFCs.

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Panel to assess value of assets mortgaged by PMC borrowers

The bank is currently undergoing a forensic audit the report for which will be finalised by the end of this month. But simultaneously, other assets and mortgages are also being identified by investigation agencies and the banking regulator to get back the bank’s dues.

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Banks can’t claim tax relief on FD insurance

The indirect tax department has asked banks to reverse input tax credit claimed on insurance paid to Deposit Insurance and Credit Guarantee Corporation, which will escalate costs for the lenders.

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Thursday, December 5, 2019

'RBI looking at HDFC net banking glitches'

A team from RBI is visiting HDFC Bank to identify the reasons behind the outage in online banking which inconvenienced thousands of the banks' customers for two days. “We are cognizant of the problem. It happened on December 2, and it was due to technical glitches. The net banking was restored on Tuesday,” said MK Jain deputy governor RBI on Thursday.

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RBI hikes aggregate lending limit to Rs 50 lakh for P2P lenders

At present, the aggregate limits for both borrowers and lenders across all P2P platforms stand at Rs 10 lakh, whereas exposure of a single lender to a single borrower is capped at Rs 50,000 across all NBFC-P2P platforms.

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RBI governor Shaktikanta Das says forensic audit on PMC scam expected by month-end

The RBI has also given its suggestions on changes in regulations that are required for regulating the cooperative bank sector better.

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Moody’s downgrades Yes Bank ratings

Global rating agency Moody’s on Thursday downgraded Yes Bank’s long term foreign currency issuer rating to B2 from Ba3 and assigned a negative outloo

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CIC issues show-cause notice to RBI for casual approach to its notice

In the show-cause notice, Chandra directed the CPIO why penal action under Section 20(1) of the RTI Act should not be initiated against him. This is not the first time that the RBI had to face the ire of CIC as former Information Commissioner Sridhar Acharyulu had summoned then RBI Governor Urjit Patel for not following Supreme Court orders on RTI implementation.

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Barclays opens world-class campus in Pune

Barclays has opened its new campus at Kharadi, Pune, the largest single location outside of its global headquarters in London. Barclays Global Servi

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Maha govt suggests merger of troubled PMC Bank with MSC Bank

The PMC Bank has been put under restrictions by the RBI, after an alleged Rs 4,355 crore scam came to light following which the deposit withdrawal was initially capped at Rs 1,000, causing panic and distress among depositors. At least eight depositors, who had high quantum of money stuck with the bank, died in the last couple of months, including one who committed suicide.

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RBI lowers growth forecast to 5 per cent; keeps repo rate unchanged

The RBI revised its retail inflation projection to 5.1 per cent

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Forensic audit on PMC scam expected by month-end: Shaktikanta Das

"There is a forensic audit underway. We will get the report by the end of this month. Assessment of the realisable value of the assets of the bank is also on," Das told reporters after the announcement of the monetary policy.

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RBI says banks lending to NBFCs now

Das said the top-50 NBFCs are being regularly monitored by the RBI as it has a fairly good idea on which of the NBFCs are "vulnerable" and made it clear that "RBI will not allow any large NBFC to collapse."

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Maveric Systems rolls out academy to groom data technology experts

The academy was founded by the company as a response to train big data technologists to address banks’ digital transformation challenges. The platform will serve as a means to upskill and cross-skill fresh graduates, interns and existing employees, and then deploy them on live projects.

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RBI to amend norms for Urban Cooperative Banks for exposure limit and priority sector lending

To release ‘On tap’ Licensing Guidelines for SFBs today

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Status quo on repo rate comes as a surprise says India Inc

India Inc, which was expecting a rate cut to tide over the ongoing consumption slowdown, said that they were surprised with the Reserve Bank of India'

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RBI satisfied with pace of monetary transmission

He further said transmission, which was bothering the central bank for a long time, is expected to improve with the introduction of linking loan pricing to external benchmark system, which banks have adopted now.

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Indian government's loan bonanza seen a temporary salve and a long-term pain

Reviving a practice not used in three decades, India's government in September ordered state-run banks to hold more than 400 loan "melas" or fairs across the country over the following month - a measure aimed at boosting economic growth at six-year lows and lending growth at its weakest in three years.

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RBI satisfied with pace of monetary transmission, says Shaktikanta Das

Reserve Bank governor Shaktikanta Das on Thursday expressed satisfaction with bankers for passing its rate cuts to borrowers, saying the monetary transmission has been full and reasonably swift.

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RBI to amend norms for Urban Cooperative Banks for exposure limit and priority sector lending

To release ‘On tap’ Licensing Guidelines for SFBs today

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RBI disappoints markets and borrowers, holds on to rates

Disappointing markets and borrowers, Reserve Bank of India’s (RBI's) monetary policy committee on Thursday decided to hold its repo rate – the rate at which it lends to banks at 5.15% even as it slashed its growth forecast by 90 basis points to 5% from 6% earlier.

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RBI MPC meet: Repo rate unchanged at 5.15 per cent

RBI keeps repo rate unchanged to keep inflation within target

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Amazon faces widening US antitrust scrutiny in cloud business

US antitrust enforcers have broadened their scrutiny of Amazon.com Inc beyond its retail operations to include its massive cloud-computing business,

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Corporates may end up paying higher interest rates, says Axis Bank CFO

Axis Bank delivered healthy performance on the core business front in the September quarter. But elevated slippages and notable stressed book (BB and

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Aditya Birla Health Insurance eyes Kerala, opens full service branch in Kochi

Strengthening its foot print in Kerala, Aditya Birla Health Insurance Co Ltd (ABHICL) has opened its first full service branch in Kochi.According to

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Consumer will choose how they want to pay: Rajesh Mehta, MD, trade and treasury solutions, Citi | Interview

If you look at the kind of technologies that we know and love, such as blockchain, cloud, mobility and the internet, they have led to four changes. First, our clients’ businesses are getting disrupted.

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Wednesday, December 4, 2019

Why the case for quantitative easing is getting stronger

With India’s nominal GDP growing at its slowest pace in 17 years, it is a given that the central bank will cut interest rates again on Thursday.What’

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Visa woos Indian fintechs, start-upsto solve digital payments challenge

Visa, a global leader in payments technology, has begun to roll out in India its global innovation programme — Visa Everywhere Initiative (VEI) — seek

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IRDAI norms for PoS life products

In a move that will improve the ease of access to life insurance products, the Insurance Development and Regulatory Authority of India (IRDAI) has is

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After three days of snag, HDFC Bank’s digital services back to normal

Private sector lender HDFC Bank’s net and mobile banking services, which were facing an outage for nearly three days, began to normalise by Wednesday

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Three member panel to continue assist DHFL's Administrator, says RBI

The three-member advisory committee constituted to assist the Administrator of financially stressed Dewan Housing Finance Corporation Ltd (DHFL) will

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IL&FS reports whopping loss of Rs 22,527 crore in FY’19

Mumbai, Dec 4IL&FS has reported a net loss of Rs 22,527 crore during FY19 as against a net profit of Rs 333 crore reported in 2018.Revenues came i

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Will another rate cut by the RBI spur growth?

According to analysts, sentiment is subdued and credit demand weak, but H2 growth is likely to be better

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SBI’s ‘Atoot’ scheme to provide relief to family of employees dying in harness

To strengthen its long-term relationship with employees and to imbibe in them a sense of belongingness, State Bank of India (SBI) has introduced a sch

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Catholic Syrian Bank makes a stellar market debut; soars 54%

Meanwhile, the lender’s board extends the tenure of MD & CEO CVR Rajendran by 3 years

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RBI's customer protection rules will benefit depositors

The complainants used two ATMs in this locality and were duped include customers of HDFC Bank and United Bank of India.

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Aditya Birla Health hopes to continue 78% growth of first half of FY20

Bathwal said the penetration is still low in individual health insurance in the country. Around 50 crore people have been covered by health insurance of which 36 cr are by Ayushman Bharat scheme of the govt while around 9 cr are covered by corporate health insurance. `` The number of people who have taken individual insurances is only about 4 cr.’’

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Canadian fund CPPIB to enter private debt business in India

“Private debt can be a good opportunity as we see some interesting situations in the country,” said Mark Machin, president and chief executive officer CPPIB. Many private equity global funds including KKR, Apollo Global Management, Blackstone and Baring have specialized debt platforms.

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Centre considers easing lending rules for shadow banks: Sources

Modi’s cabinet is likely to discuss allowing state banks to provide so-called credit enhancement against securities rated BBB+ to non bank financiers, the people said, asking not to be identified before a public announcement.

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Nirav Modi’s PNB scam gets bigger: Fraudlent LoUs worth this much more discovered

The 329-page forensic report of BDO was handed by a whistleblower to the International Consortium of Investigative Journalists (ICIJ) which has partnered with The Indian Express for a series of reports on the findings of the forensic team.

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If RBI cuts rate by 25 basis points, repo to be lowest in almost 10 years

Lakshmi Iyer, chief investment officer (debt) and head products at Kotak Mahindra AMC, says the MPC meeting this time is set against an interesting backdrop —rising CPI data and a falling GDP growth

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Consolidation in the banking sector is good for us: SBI Chairman

 For Rajnish Kumar, Chairman, State Bank of India, the two years heading the country’s largest lender has been “full of action”. While the banking and

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PFRDA targets adding 1 crore subscribers to Atal Pension Yojana in FY2021

The Atal Pension Yojana (APY), a key pension scheme of the government, which covers workers in the unorganised sector, will see an addition of 1 crore

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PSBs give Rs 4.9 lakh crore loans under outreach scheme

​​​Finance and corporate affairs minister Nirmala Sitharaman, had announced in September the launch of customer outreach initiative by public sector banks (PSBs) to improve credit delivery and support needs of the economy, with particular focus on MSMEs, NBFCs, corporates, retail and agriculture sector borrowers, without compromising on prudential lending norms.

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If RBI cuts rate by 25 basis points, repo to be lowest in almost 10 years

Lakshmi Iyer, chief investment officer (debt) and head products at Kotak Mahindra AMC, says the MPC meeting this time is set against an interesting backdrop —rising CPI data and a falling GDP growth

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With NPAs on the rise, public sector banks go slow on Mudra

PSBs turn wary after small units ‘vanish’, RBI’s guidance on due diligence

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HDFC Bank’s internet, mobile banking services hit for third day in a row

Private sector lender HDFC Bank’s Internet and Mobile banking services continued to be down for the third consecutive day on Wednesday.Users who try t

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A year in the RBI hotseat: Shaktikanta Das and the art of negotiation

When bureaucrat Shaktikanta Das was appointed RBI Governor on Dec 11 to succeed Urjit Patel, critics said he could be remote-controlled by the govt. A year later, some disputes are resolved but differences remain. The noise on independence is also down to a murmur. However, bond investors believe that his heart lies in the government.

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EOW probe: 23 PMC bankers, clients took out Rs 70 crore before curbs

Officials at the EOW of the Mumbai Police said these individuals withdrew the money between September 7 and September 19. On September 21, the bank’s managing director, Joy Thomas, wrote to the RBI about alleged violations of regulations and irregularities in its dealings and two days later, the central bank put restrictions on the bank.

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Tuesday, December 3, 2019

Axis Bank launches wealth platform for ultra-rich

Axis Bank MD and CEO Amitabh Chaudhry said there has been a 24% increase in the number of high net-worth individuals who report an income of more than Rs 5 crore.

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IRDAI offers a cash prize for naming new health cover product

The Insurance Regulatory and Development Authority of India (IRDAI) is offering Rs 10,000 cash prize for suggesting a suitable name for a new health

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PMC Bank administrator to sell 2 aircrafts, 1 yacht

The assets on sale belong to Housing Development Infrastructure (HDIL) Group promoters Rakesh and Sarang Wadhawan, the prime accused in the Rs 4,355-crore scam.

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Slow credit growth due to unutilised sanctioned working-capital limits: SBI chairman

Credit growth is slow primarily because sanctioned working-capital limits are lying unutilised.

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PMC Bank administrator to sell 2 aircrafts, 1 yacht

The assets on sale belong to Housing Development Infrastructure (HDIL) Group promoters Rakesh and Sarang Wadhawan, the prime accused in the Rs 4,355-crore scam.

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Slow credit growth due to unutilised sanctioned working-capital limits: SBI chairman

Credit growth is slow primarily because sanctioned working-capital limits are lying unutilised.

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‘Essar Steel case proves why ARCs are a win-win for all’

The Supreme Court ruling in the Essar Steel case not only brings huge relief to banks, but also lays to rest several issues that have been delaying th

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PMC Bank administrator to sell 2 aircrafts, 1 yacht

The assets on sale belong to Housing Development Infrastructure (HDIL) Group promoters Rakesh and Sarang Wadhawan, the prime accused in the Rs 4,355-crore scam.

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Slow credit growth due to unutilised sanctioned working-capital limits: SBI chairman

Credit growth is slow primarily because sanctioned working-capital limits are lying unutilised.

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PMC Bank administrator to sell 2 aircrafts, 1 yacht

The assets on sale belong to Housing Development Infrastructure (HDIL) Group promoters Rakesh and Sarang Wadhawan, the prime accused in the Rs 4,355-crore scam.

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Slow credit growth due to unutilised sanctioned working-capital limits: SBI chairman

Credit growth is slow primarily because sanctioned working-capital limits are lying unutilised.

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Aadhaar enabled payment system growth slows in FY20

AePS facilitates cashless transactions through biometric authentication. According to NPCI, which runs the platform, biometric-based transactions grew by 10% to 208 million transactions in October 2019 from 189 million in April. October usually sees high transactions because of the festive season and higher remittance from urban to rural areas.

from Banking/Finance-Industry-Economic Times https://ift.tt/2RfomIi
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ICICI Bank cuts one-year MCLR by 10 bps to 8.25%

In the September quarter, ICICI Bank had recorded a domestic loan growth of 16.4% year-on-year (y-o-y), driven by 22.2% y-o-y growth in retail loans.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YaiscV
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UPI transaction value drops marginally

The first mover in UPI payments has been losing share since mid-2017 to rival apps launched by large internet and e-commerce players, many of them multinationals.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2rb6P9F
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Axis Bank launches wealth platform for ultra-rich

Axis Bank MD and CEO Amitabh Chaudhry said there has been a 24% increase in the number of high net-worth individuals who report an income of more than Rs 5 crore.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2P5zg0L
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PMC Bank administrator to sell 2 aircrafts, 1 yacht

The assets on sale belong to Housing Development Infrastructure (HDIL) Group promoters Rakesh and Sarang Wadhawan, the prime accused in the Rs 4,355-crore scam.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DBEdsI
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Slow credit growth due to unutilised sanctioned working-capital limits: SBI chairman

Credit growth is slow primarily because sanctioned working-capital limits are lying unutilised.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Lhvikn
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Police shares findings on PMC’s arrested auditors with ICAI

According to the police, Rakesh and Sarang Wadhawan of real estate firm HDIL, who are among the accused in the case, had allegedly tampered with the bank’s core banking solution to operate 44 password-protected accounts. Overdrafts disbursed by the bank to these accounts eventually made it to the accounts held by HDIL or its promoters, the police had alleged.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Li490C
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ICICI Bank cuts one-year MCLR by 10 bps to 8.25%

In the September quarter, ICICI Bank had recorded a domestic loan growth of 16.4% year-on-year (y-o-y), driven by 22.2% y-o-y growth in retail loans.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YaiscV
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UPI transaction value drops marginally

The first mover in UPI payments has been losing share since mid-2017 to rival apps launched by large internet and e-commerce players, many of them multinationals.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2rb6P9F
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Axis Bank launches wealth platform for ultra-rich

Axis Bank MD and CEO Amitabh Chaudhry said there has been a 24% increase in the number of high net-worth individuals who report an income of more than Rs 5 crore.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2P5zg0L
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PMC Bank administrator to sell 2 aircrafts, 1 yacht

The assets on sale belong to Housing Development Infrastructure (HDIL) Group promoters Rakesh and Sarang Wadhawan, the prime accused in the Rs 4,355-crore scam.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DBEdsI
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Slow credit growth due to unutilised sanctioned working-capital limits: SBI chairman

Credit growth is slow primarily because sanctioned working-capital limits are lying unutilised.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Lhvikn
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PMC Bank administrator to sell 2 aircrafts, 1 yacht

The assets on sale belong to Housing Development Infrastructure (HDIL) Group promoters Rakesh and Sarang Wadhawan, the prime accused in the Rs 4,355-crore scam.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DBEdsI
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Slow credit growth due to unutilised sanctioned working-capital limits: SBI chairman

Credit growth is slow primarily because sanctioned working-capital limits are lying unutilised.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Lhvikn
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Monday, December 2, 2019

Technical snag hits HDFC website and mobile application

With a customer base of 50 million, HDFC Bank is the largest private sector bank in the country and one of the largest retail banks in the world.

from Banking/Finance-Industry-Economic Times https://ift.tt/2RdZlNE
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Banks have not been able to check diversion of funds: SBI Chairman

Rajnish Kumar says the PSB is working on strengthening the post-sanction monitoring of loans

from Business Line - Money & Banking https://ift.tt/37VTkes
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KVGB pact with Canara HSBC for bancassurance

The Dharwad-headquartered regional rural bank Karnataka Vikas Grameen Bank (KVGB) and ‘Canara HSBC OBC Life Insurance Co Ltd’ signed an bancassurance

from Business Line - Money & Banking https://ift.tt/2P3wrwZ
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Why banks are not ready to start sharing expenses

Elisa MartinuzziThree years ago, Tidjane Thiam stirred hopes that the banking industry was looking at new ways to tackle its bloated cost base. The ch

from Business Line - Money & Banking https://ift.tt/2LdkoMH
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ICICI Venture, 4 others pay ₹5.2 cr to settle case with SEBI

ICICI Venture Funds Management Company and four other entities settled with SEBI a case of alleged violation of norms pertaining to venture capital f

from Business Line - Money & Banking https://ift.tt/2LdgBir
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Chanda Kochhar's termination as CEO-MD as per law: ICICI Bank to HC

Kochhar had moved the Bombay High Court challenging ICICI Bank's decision to terminate her despite the bank having approved her request for early retirement.

from Banking/Finance-Industry-Economic Times https://ift.tt/2OE6CVo
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USD 14 bn loans to builders under severe stress, may result in default: Report

Banks have advanced loans of Rs 1,000 crore to real estate firms by banks, NBFCs and housing finance companies (HFCs) which are under severe financial stress and and facing issues of debt servicing, according to a report. HFCs accounted for the largest share of total realty loans equalling 38%, followed by banks at nearly 34% share while NBFCs

from Banking/Finance-Industry-Economic Times https://ift.tt/35MrcbU
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IFC anchors $200 million in Mahindra and Mahindra Financial Services for MSME lending

The funds dedicated to women will be supported by blended finance from the IFC-Goldman Sachs’ Women Entrepreneurs Opportunity Facility

from Business Line - Money & Banking https://ift.tt/33Gg8f5
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NCLT Mumbai admits DHFL for bankruptcy proceedings

The move came in after the Reserve Bank last Friday made an application for bankruptcy proceedings to resolve the credit and liquidity crisis at the company, which became the first financial sector player being sent for bankruptcy. dmitting the petition, an NCLT bench said the petition deserves admission."

from Banking/Finance-Industry-Economic Times https://ift.tt/34H2I3G
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PMC Bank withdrawal limit: 78% depositors can get their full money; but the rest have to wait

The government has allowed nearly 78 per cent of the small depositors of crisis-hit PMC Bank to withdraw their entire deposits, even as measures are being taken to repay all the depositors, finance minister Nirmala Sitharmaan said in Parliament on Monday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2LdeQBO
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HDFC Bank, Walmart India to launch co-branded credit card

In a first for both—HDFC Bank and Walmart India have joined hands to launch a co-branded credit card to over a million members (mostly Kiranas) of th

from Business Line - Money & Banking https://ift.tt/2rL7Ipg
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Will RBI say YES to Erwin Singh Braich, the man who just forced India to sit up and take notice?

The Yes Bank board, on November 29, released names of likely investors amid frantic preparations to offload $2 billion worth of equities in a desperate bid to shore up capital. Among the list of fund houses and corporates, the name that stood out was that of Erwin Singh Braich of SPGP Holdings.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Y5YGiK
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78% depositors of PMC Bank can withdraw entire deposits: Govt

The minister said steps are being taken to seize properties of promoters of the PMC Bank, auction such properties and repay depositors with the money obtained. Sitharaman said the Rs 50,000 withdrawal ceiling for depositors continues but for scenarios like marriage, education, livelihood and other "hardships", the withdrawal limit if Rs 1 lakh.

from Banking/Finance-Industry-Economic Times https://ift.tt/2RgQn2p
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78% depositors of PMC Bank can withdraw entire deposits: Government

Nearly 78 per cent depositors of the scam-hit Punjab and Maharashtra Co-operative (PMC) Bank have been allowed to withdraw their entire deposits even though the ceiling of Rs 50,000 on withdrawal continues, Union finance minister Nirmala Sitharaman said in Lok Sabha on Monday.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/34Goepg
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78 per cent depositors of PMC Bank can withdraw entire deposits: Central Government

Says steps are being taken to seize properties of promoters of the PMC Bank

from Business Line - Money & Banking https://ift.tt/2LbkrbE
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PFRDA goes the whole hog to get subscribers to NPS

From hosting product awareness sessions to widening its distribution channels, India’s pension fund regulator is pulling out all stops to attract in

from Business Line - Money & Banking https://ift.tt/2OCzkpE
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RBI expected to cut rates on December 5

The Reserve Bank of India is widely expected to cut interest rates in the forthcoming monetary policy review on December 5. However, the bad news is that a majority of economists polled by TOI expect the RBI to cut its repo rate by 25 basis points to 4.9% which would be immediately transmitted to retail borrowers as banks now link loans to an external benchmark.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/35QwKlz
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Sunday, December 1, 2019

Axis Bank more than doubles loan provisions for troubled sectors

The move, which is being followed at least since April, comes amid continuing concerns on high quantum of non-performing assets in its book.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2P3gSp4
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RBI seen cutting rate again to arrest falling growth

Economy growth worries may outweigh central bank’s retail inflation concerns

from Business Line - Money & Banking https://ift.tt/2rFbP6r
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Digital transactions in October: Top score for Fino Payments Bank

SBI, Bank of Maharashtra are ‘good’ performers among PSBs

from Business Line - Money & Banking https://ift.tt/34BWd1W
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Axis Bank more than doubles loan provisions for troubled sectors

The bank is maintaining a standard asset provisioning of 1 percentage point for bad loans in such sectors, as against the regulatory provision of 0.40 per cent, its executive director Rajiv Anand told .

from Banking/Finance-Industry-Economic Times https://ift.tt/2qdxeTS
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Axis Bank more than doubles loan provisions for troubled sectors

Axis Bank is setting aside more capital, more than twice over the regulatory requirements, for loans in sectors it has identified as “stressed”, a se

from Business Line - Money & Banking https://ift.tt/2Rat36e
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Experts say RBI may cut interest rates again to support growth

The Reserve Bank may cut interest rates for the sixth straight time on December 5 to support growth that has continued to slip to more than six-year

from Business Line - Money & Banking https://ift.tt/2P1Btdy
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India’s credit card boom faces threat from payment apps

Despite a booming business, credit card issuers face several challenges in India

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