Banks cannot go beyond a threshold to cut deposit rates as India lacks social security net: SBI chairman

In 2013, the repo rate was around 10 per cent, the SBI Chairman said adding that since 2013, Reserve Bank's repo and bank interest rates for consumers have been moving in a completely aligned manner. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2rZXD...

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Banking industry’s NPA situation to improve by fiscal-end: SBI chairman

On the transmission of monetary policy, he said the banks cannot lower rates beyond a threshold due to asset-liability mismatch issues. Kumar stated that there is no shortage of capital in the system, but the corporates are not borrowing enough and not utilising their capacities well. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QasY...

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Not all is gloomy! SBI chairman nudges industry to borrow and invest in economy

"If India has to achieve its goal of USD 5 trillion economy then it cannot happen unless there is investment in the economy. Today the outstanding banking credit is Rs 96 lakh crore. So for a USD 5 trillion economy, we would at least need to double it," Rajnish Kumar said at the 92nd Annual Convention of industry body FICCI. from Banking/Finance-Industry-Economic Times https://ift.tt/2SaGe...

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No move to seek details on ‘religion’ in bank KYC forms: IBA

The Indian Banks’ Association (IBA) on Saturday said there is no move by banks to introduce a new column in their ‘know-your-customer’ (KYC) forms ask from Business Line - Money & Banking https://ift.tt/2ShPC...

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Banks cannot go beyond a threshold to cut deposit rates as India lacks social security net: SBI chairman

In 2013, the repo rate was around 10 per cent, the SBI Chairman said adding that since 2013, Reserve Bank's repo and bank interest rates for consumers have been moving in a completely aligned manner. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2rZXD...

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Banking industry’s NPA situation to improve by fiscal-end: SBI chairman

On the transmission of monetary policy, he said the banks cannot lower rates beyond a threshold due to asset-liability mismatch issues. Kumar stated that there is no shortage of capital in the system, but the corporates are not borrowing enough and not utilising their capacities well. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QasY...

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Banks cannot go beyond a threshold to cut deposit rates as India lacks social security net: SBI chairman

"We can't lower the interest rates (on lending) without lowering the interest rates for depositors. And there is a point, a threshold below which we cannot reduce the interest rate for depositors. Third thing is that the credit cost in the country is very high because the default rates are very high, so the spread has to be necessarily high," said SBI chairman. from Banking/Finance-Industry-Economic Times https://ift.tt/2sctt...

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Banking industry’s NPA situation to improve by fiscal-end: SBI chairman

SBI Chairman Rajnish Kumar on Saturday said most banks will be in a good position with respect to stressed assets by March and there is no dearth of from Business Line - Money & Banking https://ift.tt/2ESiA...

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Banking industry's NPA situation to improve by fiscal-end: SBI chairman

Rajnish Kumar added that there are opportunities to lend in sectors such as infrastructure and consumer lending as there is not much of a decline in demand from consumers. On transmission of monetary policy, he said the banks cannot lower rates beyond a threshold due to asset liability mismatch issues. from Banking/Finance-Industry-Economic Times https://ift.tt/2s057...

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Banks may ask you for your religion details

Banks may introduce a new column in KYC forms for their depositors & clients to mention their religion. from Banking/Finance-Industry-Economic Times https://ift.tt/2EGDG...

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Rajesh Mokashi resigns as MD& CEO CARE Ratings

A little over five months after he was sent on leave by the board, Rajesh Mokashi, Managing Director and CEO, CARE Ratings has resigned from the post. from Business Line - Money & Banking https://ift.tt/2MhLK...

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PM to banks, India Inc: no inappropriate action on genuine commercial decisions

We have seen ups and downs, but each time India emerged stronger: Modi from Business Line - Money & Banking https://ift.tt/2EyHR...

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FM Sitharaman’s loud and clear message to PSU banks: Give more loans, pass on rate cut benefits

Finance Minister Nirmala Sitharaman on Wednesday said that the banks must pass on rate cut benefits and increase the disbursal of loans to boost liquidity. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/35Esp...

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PM Modi to banks: Don’t worry, right decisions taken by officials would not be questioned

Prime Minister Narendra Modi on Friday said that the banking sector has become strong after the government announced a slew of measures. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Z9hi...

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How far UPI can reach in India: After 1 billion transactions, this is next

If RBI introduces recurring payment functionality, as it has indicated, this will be a gamechanger for P2M UPI payments. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2s4QN...

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Yes bank takes another jolt; India Ratings downgrades bank for uncertainties in capital raising

The capital constraints had resulted in a 7 per cent decline in the bank's loan book in the September quarter, and the prime reason cited by the management to expedite the infusion was to get into the business-as-usual mode. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/38UJ3...

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Esaf Bank develops digital banking tool for hearing impaired

A unique digital banking and financial literacy tool for hearing impaired, which was developed by the ESAF Small Finance Bank, has handed over to Res from Business Line - Money & Banking https://ift.tt/2rgEw...

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RBI to buy, sell government bonds worth Rs 10,000 crore on Monday

The purchase will be for government securities worth Rs 10,000 crore for the instrument ‘6.45 per cent GS 2029’ from Business Line - Money & Banking https://ift.tt/2EBEs...

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Sensex, Nifty inch up to record highs

Market benchmarks sensex and Nifty rose marginally to close at fresh lifetime highs on Friday, tracking gains in index heavyweights ICICI Bank, SBI and HDFC Bank. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Q4fO...

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Spike in food inflation limits scope for further rate cuts

India’s volatile food prices are yet again posing a sticky inflation problem for its central bank, preventing it from cutting rates as deep as it wou from Business Line - Money & Banking https://ift.tt/2MeXc...

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RBI's 'Operation Twist' aims at addressing hardening long-tenor bond yields

The special open market operations (OMO) announced by the Reserve Bank of India (RBI) late Thursday is aimed at addressing the hardening in longer-ten from Business Line - Money & Banking https://ift.tt/2Z9kd...

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RBI calls for more steps to push growth

Reserve Bank of India (RBI) governor Shaktikanta Das has called for fiscal policy to work in coordination with monetary policy, even as another member of the monetary policy committee (MPC) called for relaxing the fiscal deficit target for the current fiscal. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/35Jbj...

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P2P lending association appoints new office bearers

The Association of NBFC P2P Lending Platforms, which was formed last year has appointed a new set of office bearers.The Association which acts as a re from Business Line - Money & Banking https://ift.tt/36XRu...

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All-India bank strike on January 8

Bank employees and officers to join the National General Strike called by central trade unions from Business Line - Money & Banking https://ift.tt/2Z98m...

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Rating agencies downgrade Yes Bank

Continued uncertainties on capital raising resulted in two domestic rating agencies downgrading private sector lender Yes Bank on Thursday. The bank, which has had a tumultuous year since the RBI terminated the term of its co-founder chief executive Rana Kapoor, has not been able to make progress in its equity raising even after claiming that it has investors willing to pump in $3 billion. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2PJlq...

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Why Debt Funds Should Form Part of Any Investors Portfolio

Debt mutual fund, by definition are designed to provide income generation in a relatively more stable manner as compared to equity oriented funds, with the u... from Banking/Finance-Industry-Economic Times https://ift.tt/35BAl...

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Google searches for `Operation Twist’ surge in India

The RBI’s effort is to make long-term borrowing cheaper and spur bank lending from Business Line - Money & Banking https://ift.tt/2PII6...

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CRISIL to acquire US-based data analytics company Greenwich Associates for $40 million

CRISIL is set to acquire the US-based Greenwich Associates and its six subsidiaries for about $40 million as it looks to become a leading player in th from Business Line - Money & Banking https://ift.tt/2Z9j2...

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CRISIL to acquire US-based data analytics company Greenwich Associates for $40 million

CRISIL is set to acquire the US-based Greenwich Associates and its six subsidiaries for about $40 million as it looks to become a leading player in th from Business Line - Money & Banking https://ift.tt/2PEXv...

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‘It’s best to wait and watch’

Rate cuts, fiscal steps need time to work their way into the economy: RBI chief from Business Line - Money & Banking https://ift.tt/35SaI...

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Competing only on pricing is a risky proposition: HDFC Life CEO

Companies that entered the protection space recently might have to tighten processes, says Vibha Padalkar, MD &CEO, HDFC Life from Business Line - Money & Banking https://ift.tt/34Ehm...

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PSU general insurers cede ground to private players

Barring Oriental, other three state-run insurers lose market share in 2018-19 from Business Line - Money & Banking https://ift.tt/2Z4Qb...

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RBI told not to disclose sensitive bank reports under RTI for now

The ruling came on an application filed by banks, which said such information cannot be shared without first giving them an opportunity to oppose it. The top court had mandated the RBI in 2015 to release such information to RTI applicants or risk contempt of court. from Banking/Finance-Industry-Economic Times https://ift.tt/2Q1KF...

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Special OMO: RBI to buy, sell G-Secs worth ₹10,000 crore

In a surprising move, the Reserve Bank of India (RBI) has decided to simultaneously go for purchase and sale of government securities under a special from Business Line - Money & Banking https://ift.tt/2MbG3...

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India Ratings downgrades Yes Bank

India Ratings and Research on Thursday downgraded the long term and short term ratings of Yes Bank and placed it on the Rating Watch Negative as the from Business Line - Money & Banking https://ift.tt/2PC6q...

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Reliance Home Finance seeks permission to repay nearly 20,000 bondholders

Reliance Home Finance has sought permission from lenders to repay its retail bondholders. It has to repay Rs 91.78 crore to retail investors on or bef from Business Line - Money & Banking https://ift.tt/34Bbr...

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HDIL, its promoters have to repay loan to PMC Bank: HC

The court also said that the assets of HDIL and its promoters Rakesh Wadhawan and Sarang Wadhawan must be sold at the earliest in the interest of the PMC Bank and its depositors. A division bench of Justices Ranjit More and S P Tavade was hearing a PIL filed by an advocate, Sarosh Damania, seeking directions for expeditious disposal of HDIL Group assets. from Banking/Finance-Industry-Economic Times https://ift.tt/2PZYa...

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Room for strong growth for microfinance in India, says KPMG report

Eastern and northeastern regions of the country have played a key role with the highest share of loan portfolio at 35 per cent. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MaWM...

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HDFC Top 100 Fund: An Ideal Investment option in large cap category

Direct equity investing is complex and hence many people simply avoid it. However, historically equity is the asset class that has beaten most other investme... from Banking/Finance-Industry-Economic Times https://ift.tt/2SdIQ...

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Room for strong growth for microfinance in India: KPMG

"Microfinance is growing at 48 per cent CAGR in the last five years, there is still room for growth given that microfinance penetration is 25 per cent of the addressable market," KPMG India national head (Financial Services) Gayathri Parthasarathy said in a report. Microfinance players have also been actively pursuing activities beyond lending to meet their social objectives and improve their margins, the report added. from Banking/Finance-Industry-Economic Times https://ift.tt/2PyW4...

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Health insurance sector grows more than 20% for 4th year in a row

Insurers collected ₹44,873 crore as premium in 2018-19 compared with ₹37,029 crore last year from Business Line - Money & Banking https://ift.tt/2EzbJ...

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Banks can’t be held responsible for customer negligence: BoI chief

Regulator needs to come up with a solution, says G Padmanabhan from Business Line - Money & Banking https://ift.tt/2ExCG...

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Investcorp plans NBFC for affordable housing

Sees opportunity in last-mile funding for residential projects, ‘urbanisation’ drive from Business Line - Money & Banking https://ift.tt/2s0Bo...

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Banks voice concern over RBI's 24x7 fund transfer decision

Lenders may face a problem in managing cash balances when money market is shut. from Banking/Finance-Industry-Economic Times https://ift.tt/35FxD...

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PNB loses UK High Court appeal in $45-million deceit claim

Sir Geoffrey Vos, Chancellor of the High Court, heard the appeal earlier this month against a previous decision against PNBIL by Chief Master Matthew Marsh. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/38NH4...

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BoB raises Rs 1747 crore by issuing Basel III compliant bonds

The bank has issued and allotted Basel III compliant additional tier I bonds, Bank of Baroda said in a regulatory filing. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Z0pJ...

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Amid citizenship stir, MFIs look towards normalcy in Assam for repayment of loans

The micro-lenders are dealing with the current situation on its own by engaging themselves with clients, the state government and regulatory bodies and hoping that there will be "near normalcy" by the middle of this week. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Pw4P...

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Non-life insurers register 13 per cent rise in November premium to Rs 14,591 crore

Break-up wise, of the total non-life insurers, the 25 general insurers registered an increase of 11 per cent in their premium income at Rs 12,723.61 crore during the month, as against Rs 11,508.67 crore in the year-ago same period, showed the Insurance Regulatory and Development Authority of India (Irdai) data. from Banking/Finance-Industry-Economic Times https://ift.tt/35LRd...

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FinMin to rescue IDBI bank; suggests departments to continue business with LIC acquired bank

LIC is wholly-owned by the government and together with the government's holding of 46.46 percent, the direct and indirect government holding in the IDBI bank is 97.46 percent, making it a quasi-sovereign entity. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/36NCE...

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BoB raises Rs 1747 crore by issuing Basel III compliant bonds

The bank has issued and allotted Basel III compliant additional tier I bonds, Bank of Baroda said in a regulatory filing. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Z0pJ...

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Amid citizenship stir, MFIs look towards normalcy in Assam for repayment of loans

The micro-lenders are dealing with the current situation on its own by engaging themselves with clients, the state government and regulatory bodies and hoping that there will be "near normalcy" by the middle of this week. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Pw4P...

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RBI defends its nod for Chanda Kochhar's sacking from ICICI Bank

The bank, while terminating her employment, also denied her remuneration and rescinded the bonuses and stock options given to her from April 2009 to March 2018. She was accused of playing a role in grant of out-of- turn loans of Rs 3,250 crore to Videocon Group, which allegedly benefited her husband, Deepak Kochhar. from Banking/Finance-Industry-Economic Times https://ift.tt/34zS2...

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JM Financial Services launches service to book corporate fixed deposits online

JM Financial Services Ltd, JM Financial Group’s financial services arm, has launched a digital solution that enables registered Independent Financial from Business Line - Money & Banking https://ift.tt/35AE4...

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Sensex, Nifty soar to fresh lifetime highs

Equity benchmarks sensex and Nifty surged to fresh highs on Wednesday, tracking gains in index heavyweights HDFC Bank, RIL and ITC amid unabated foreign fund inflows. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/34Dp3...

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Finance Mininstry asks government departments/agencies to continue to bank with IDBI

In a letter to these departments, the finance ministry has assured them of the bank's ability to serve them as before because the present promoter LIC is fully owned by the government, and the national insurer along with the government holds as much as 97.46 percent in the bank. from Banking/Finance-Industry-Economic Times https://ift.tt/2sFmP...

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L&T Finance raises Rs 300 cr via non-convertible preference shares

L&T Finance Holdings has issued non-convertible preference shares on a private placement basis to raise up to Rs 300 crore. The company has issue from Business Line - Money & Banking https://ift.tt/2r8s0...

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BMW Financial Services India appoints Kathrin Frauscher as MD & CEO

German auto major BMW Group on Wednesday said Kathrin Frauscher has been appointed as the new Managing Director and Chief Executive Officer of BMW Fi from Business Line - Money & Banking https://ift.tt/34uQw...

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IDBI Bank: Ministry issues advisory to central, state governments on grant of business

Central and State governments, their departments, agencies, and institutions should continue to consider IDBI Bank for grant of government business, t from Business Line - Money & Banking https://ift.tt/35yfP...

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Bank of Baroda raises Rs 1,747 cr by issuing Basel III compliant bonds

Bank of Baroda on Wednesday said it has raised Rs 1,747 crore by issuing Basel III compliant bonds on a private placement basis. The bank has issued from Business Line - Money & Banking https://ift.tt/2r3n3...

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Telecom sector risks have ebbed: SBI chairman

SBI chairman Rajnish Kumar said risks in telecom sector have ebbed considerably from a few months ago. He said that although banks have got burnt in their exposure to telecom, SBI had the capacity to absorb any losses. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2S3tD...

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India Resurgence Fund receives Investment Commitment from Canada Pension Plan Investment Board

Canada Pension Plan Investment Board, through its wholly owned subsidiary, CPPIB Credit Investments has committed to invest $225 million in the India from Business Line - Money & Banking https://ift.tt/2M6nS...

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BankBazaar credit survey: 70% respondents have good score

Indicates the growing literacy, credit worthiness among the young Indians taking loans from Business Line - Money & Banking https://ift.tt/2YXvw...

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SBI to shift to cash flow-based lending by April 2020

State Bank of India (SBI) will switch to a cash flow-based lending model beginning April 2020 from a mechanism where loans are given against assets, chairman Rajnish Kumar told FE. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2rWyK...

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RBI looking to harmonise provisioning by all banks

The central bank has given the task to a special supervisory cadre to monitor information coming from all banks. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/36Mta...

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Retail loans to double to Rs 96 lakh crore in 5 years

Over the next five years, the retail loan book of financiers in India would double to Rs. 96 lakh crore, according to a study by ICICI Bank and ratings agency Crisil. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/38OzS...

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Sensex, Nifty hit record peaks in early trade

Equity benchmark BSE sensex jumped 129 points to hit its lifetime high of 41,480.91 in early trade on Wednesday tracking gains in index heavyweights TCS, HDFC Bank, Infosys and RIL amid unabated foreign fund inflow. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Q2Nu...

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Performance on MUDRA loans: PSBs vs. private banks

Owing to high level of NPAs, concerns have been raised over Mudra becoming the source for next bad loan crisis. from Banking/Finance-Industry-Economic Times https://ift.tt/2S5Kc...

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RBI flagged irregularities at PMC Bank in 2007: Audit

The fraud could have been prevented had the board acted on the central bank's findings, said officials who are aware of the investigations into the bank fraud and the contents of the forensic report prepared by Grant Thornton India. from Banking/Finance-Industry-Economic Times https://ift.tt/35y1T...

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Government may raise FDI cap in insurance to 74%

Our BureauIn the run up to the Budget, life insurance companies have pitched for increasing the cap for foreign direct investment (FDI) in the sector from Business Line - Money & Banking https://ift.tt/38KmV...

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Banking ombudsmen received almost 2 lakh plaints in FY19

Non-observance of fair practices code one of the major grounds for complaints from Business Line - Money & Banking https://ift.tt/2RWXI...

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realme forays into financial services with PaySa app

Smartphone player realme has forayed into the financial services sector with its platform realme PaySa with four businesses across lending, savings, p from Business Line - Money & Banking https://ift.tt/38QI5...

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Bailing out troubled bankers is all the rage again

Despite reforms over the last decade, the recent rescue acts in Germany and Italy show that governments don’t think twice before dipping into taxpayers’ pocket from Business Line - Money & Banking https://ift.tt/2M4dx...

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SBI general insurance to go public; chairman Rajnish Kumar hints at possible timeline

SBI General Insurance, which is a joint venture with Insurance Australia Group, has to "mature" and will await the valuation to touch Rs 50,000 crore, Kumar said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PVxZ...

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Kotak Mahindra Bank responds to SBI’s suggestion to buy Yes Bank; here’s what it said

After India's largest PSU lender State Bank of India's Chariman Rajnish Kumar suggested that Kotak Mahindra Bank would be an ideal candidate to buy out loss-making Yes Bank, the bank has said that comments made by other bankers do not reflect its views on Yes Bank. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2M57K...

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Uday Kotak’s success mantra: These 2 qualities help Asia’s richest banker stand apart

Asia's richest banker Uday Kotak says that common sense and and middle-class values have propelled his career to great heights. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2M2VR...

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SBI Chairman Rajnish Kumar says don’t have money to buy YES Bank; suggests this private lender

Amid buzz that the SBI may come to the aid of YES Bank, chairman of India’s largest bank by assets Rajnish Kumar denied reports saying it doesn’t have adequate funds to acquire the debt-ridden private lender. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/36O50...

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Banks to get Rs 54,000 crore boost from recovery process of Essar Steel, Ruchi Soya, others

India’s banks are set for a $7.6 billion earnings windfall this month as the country’s bankruptcy court has made sudden progress in clearing a backlog of large cases. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2EnZx...

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Kotak Mahindra Bank best suited to acquire Yes Bank, say top bankers

Two of India’s top bankers on Tuesday opined that Kotak Mahindra Bank (KMB) is best suited to acquire smaller and capital-starved rival Yes Bank. Yes from Business Line - Money & Banking https://ift.tt/2Pt8C...

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This lender best suited to 'acquire Yes Bank'

Two of India's top bankers on Tuesday opined that Kotak Mahindra Bank (KMB) is best suited to acquire smaller and capital-starved rival Yes Bank. Yes Bank's capital buffers have dipped on accelerated non performing assets recognition under new chief executive Ravneet Gill earlier this year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2RZ1T...

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Pricing power of banks could continue to diminish: Ind-Ra

Indian banks spent Rs 2.76 lakh crore in FY19 on running their operations of which about 50 per cent was non-employee related from Business Line - Money & Banking https://ift.tt/2rVPX...

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Retail loans to double to ₹96 trillion in next five years: Report

A new report by ICICI BANK and Crisil has estimated that the retail loan book of. Financiers will double to ₹ 96 trillion in the next five years from from Business Line - Money & Banking https://ift.tt/2LZlq...

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HDFC Balanced Advantage Fund

HDFC Balanced Advantage Fund with an AUM of Rs 44,345 as of 30th November 2019, is the one of the largest hybrid fund in the industry . HDFC Balanced Advanta... from Banking/Finance-Industry-Economic Times https://ift.tt/2YUFe...

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India starts round-the-clock payments for banks to manage funds

India this week joined a select club of countries offering fund transfers around the clock, a move that will give banks more flexibility to manage the from Business Line - Money & Banking https://ift.tt/2S2HY...

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Banks set to get $ 7.6 bn boost as bankruptcy court’s sudden progress in clearing backlog of large cases

India’s banks are set for a $7.6 billion earnings windfall this month as the country’s bankruptcy court has made sudden progress in clearing a backlog from Business Line - Money & Banking https://ift.tt/38LDk...

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Complaints against private sector life insurers declined in FY2019: Report

There was a 3 per cent reduction in the number of complaints reported by the general insurance industry in FY2019, IRDAI report states from Business Line - Money & Banking https://ift.tt/2Z2n4...

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Banks to get Rs 54,000 crore boost from bankruptcy recoveries

India’s banks are set for a $7.6 billion (Rs 54,000 crore) earnings windfall this month as the country’s bankruptcy court has made sudden progress in clearing a backlog of large cases. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2M0y3...

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NEFT goes 24/7; RBI bars banks from charging fees

The RBI has barred banks from charging any fee for electronic fund transfers from savings accounts. The move comes as it operationalises round-the-clock National Electronic Funds Transfer (NEFT) operations. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2RWi4...

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India starts round-the-clock payments for banks to manage funds

Round-the-clock service is expected to boost online transactions for customers and will go a long way in bolstering digital payments from Banking/Finance-Industry-Economic Times https://ift.tt/38HmP...

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Women bought 36% of life insurance policies sold in 2018-19: IRDAI

Strap: They accounted for 37 per cent of the first-year premium collected during the year, says an IRDAI reportMore women are buying life insurance th from Business Line - Money & Banking https://ift.tt/2qYle...

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Anil Ambani faces trial in London HC

Narrowly Misses Summary Judgment After Chinese Banks Sue For $700m Dues from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2S2sF...

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Nashik farmers sowing seeds of own insurance firm

Sahyadri Farmers’ Producer Co leads initiative to ensure prompt payment for crop loss from Business Line - Money & Banking https://ift.tt/2swqf...

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Baba Ramdev’s Patanjali to pay off Ruchi Soya lenders; another boost for lenders after Essar Steel

In another boost for lenders under insolvency and bankruptcy code (IBC), the resolution plan for debt-ridden edible oil firm is likely to be completed Monday after Baba Ramdev-led Patanjali Ayurved secured funding from five banks. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Pple...

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PMC Bank scam: ED files charge-sheet against HDIL promoters

Wadhawans have been booked under PMLA from Business Line - Money & Banking https://ift.tt/36KjF...

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11.40 lakh transactions settled in 8 hrs after RBI operationalises NEFT 24X7

Around 11.40 lakh transactions were settled in the first eight hours after widely-used NEFT was made operational on 24X7 basis, the RBI said. The RBI from Business Line - Money & Banking https://ift.tt/2PTvk...

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Liquidty still not accessible for all NBFCs: CEOs

"There is now a differentiation among NBFCs. Though rumours and fear mongering which we saw a year ago is not there now there are still problems which the smaller NBFCs are facing," said Dinanath Dubashi, CEO at L&T Finance. Risk aversion among banks and investors still continues which means money is not cheap for small and medium NBFCs. from Banking/Finance-Industry-Economic Times https://ift.tt/2suxF...

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Insurance sector in need of positive enablers, say industry leaders

The issues of underpenetration, which at less than 4.5% of the GDP is low compared to advanced economies, stems from problems of outreach rather than a shortage of demand, they said. "Demand is not as much an issue. There is a huge market. The problem is reach," said Vipin Anand, MD Life Insurance Corporation (LIC), while sharing a panel with Vibha Padalkar, MD and CEO, HDFC Life. from Banking/Finance-Industry-Economic Times https://ift.tt/36JVG...

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Is LIC regaining market share?

LIC’s market share fell to 66.42 per cent in FY19, but it was up at 71 per cent by November 2019 from Business Line - Money & Banking https://ift.tt/2M1H4...

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Need to reform NCLT processes to avoid judicial delays: Bibek Debroy

Economy will face short term growth costs as efficiency gains from reforms happen in the long run from Business Line - Money & Banking https://ift.tt/38LxF...

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RBI governor Shaktikanta Das hints at further rate cuts

Hinting at further rate cuts, Reserve Bank of India (RBI) governor Shaktikanta Das said that the central bank had paused in its rate cuts in December as it was waiting for an opportune time to ease policy. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/38FVP...

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'RBI acted ahead of time by cutting rates from Feb'

RBI governor Shaktikanta Das on Monday said the central bank had acted ahead of time by starting to slash rates in February this year, and hoped the decision to pause the cuts earlier this month will prove to be a right call over time. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2PMuq...

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Essar Steel’s promoters not off the hook yet

Promoters of Essar Steel are not yet off the hook despite banks getting a large part of their dues back. The Lakshmi Mittal-owned metals group ArcelorMittal last weekend transferred over Rs 39,000 crore to lenders for the steel company he won after a legal battle that lasted over two years. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2rEgX...

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RBI saw growth slowdown, acted ahead of time by cutting rates from February: RBI Governor

Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday said the central bank had acted ahead of time by starting to slash rates in February from Business Line - Money & Banking https://ift.tt/2LZhh...

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Senior citizens dread idea of bank mergers

The prospect of six public sector banks losing their identity following their merger with other lenders is giving anxious moments to long-term customers, particularly senior citizens. Their fear is the closure of the next-door branch and having to deal with a new bank with new systems following the mega-mergers announced by the government in August 2019. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2sA50...

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Despite slowdown, consumers on time with credit card repayments

Banks see no spike in delinquency but some are tightening borrower norms from Business Line - Money & Banking https://ift.tt/2LXZl...

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Govt’s focus on resolution, and not loan recovery, is retrograde: AIBEA

“Banks should concentrate on loan recovery, but the Government is stressing resolution. This is a retrograde step. The government should give up thi from Business Line - Money & Banking https://ift.tt/35oUH...

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PFS gets Rs 145 cr from resolution of stressed account Prayagraj Power Generation Company

PPGCL owns and operates a 1,980 MW (3X660 MW) coal-based thermal power project in Uttar Pradesh and had become a non-performing asset due to financial and operational stresses. from Banking/Finance-Industry-Economic Times https://ift.tt/2ElXV...

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PNB under-reported bad loans by Rs 2,617 cr in FY19: RBI report

Consequently, based on the divergence assessed by RBI in provisioning for bad loans, PNB said it would have reported a net loss of Rs 11,335.90 crore for FY19 as opposed to a net loss of Rs 9,975.49 crore. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/36wYD...

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PNB under-reported bad loans by Rs 2,617 crore in FY19: RBI report

In a regulatory filing on Saturday, PNB said the divergence in gross non-performing assets (NPAs) assessed by the central bank stood at Rs 2,617 crore in FY19. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YOae...

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