11:37 PM
Blogger
7:58 PM
Blogger
Many banks have reduced their repo linked lending rates following the Reserve Bank of India's (RBI) recent decision to cut repo rate by 75 basis points. BoM further said it will also reduce its marginal cost of funds based lending rates (MCLR) across all tenors up to 25 basis points from April 7.
7:37 PM
Blogger
6:07 PM
Blogger
5:13 PM
Blogger
3:58 PM
Blogger
The Mumbai-headquartered lender said it would extend one month gross salary in form of an interest free loan, not exceeding Rs 1 lakh, to all serving employees including those are in probation. Besides, employees will get one day special leave for every six days they work during the lockdown period.
2:13 PM
Blogger
11:19 AM
Blogger
The RBI has restricted operating hours for all the markets that it regulates from 10am to 2pm until April 17. The shorter hours will not impact retail bank customers as all their regular banking services — including Real Time Gross Settlement (RTGS), National Electronic Fund Transfer (NEFT) and e-Kuber facilities — will continue to be available according to extant timings.
9:07 AM
Blogger
2:37 AM
Blogger
12:28 AM
Blogger
“The Government should not lose sight of the plight of these unsung warriors of the economic ecosystem of our country who toils hard at every occasion to power our economy and build our nation. I request the Government to ponder over the issue with alacrity," he All India Bank Officers’ Confederation statement read.
11:28 PM
Blogger
Announcing the Pradhan Mantri Garib Kalyan Yojana (PMGKY) in view of the ongoing 21-day countrywide lockdown due to the coronavirus outbreak, Finance Minister Nirmala Sitharaman had said on March 26 that ex-gratia payment of Rs 500 would be credited to women Jan Dhan account holders for the next three months, starting from April.
9:13 PM
Blogger
8:13 PM
Blogger
8:07 PM
Blogger
7:43 PM
Blogger
7:37 PM
Blogger
7:28 PM
Blogger
In the plea filed through his lawyer Subhash Jadhav, he claimed that he was suffering from chronic immunodeficiency syndrome, which causes recurrent lung, sinus and skin infections.
6:43 PM
Blogger
6:37 PM
Blogger
5:43 PM
Blogger
5:19 PM
Blogger
The Reserve Bank of India (RBI), in a unprecedented move, cut market trading hours for both bonds and foreign exchange to four hours, citing possible operational and logistical risks arising from the nationwide lockdown due to the COVID-19 outbreak.
5:13 PM
Blogger
5:07 PM
Blogger
4:43 PM
Blogger
4:28 PM
Blogger
"CERT-In has received several reports about fake UPI IDs, which are similar to the UPI ID used by the 'Prime Minister's Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund," the cyber watchdog said. CERT-In said that pmcares@pnb, pmcares@hdfcbank, pmcare@yesbank, pmcare@ybl, pmcare@upi, pmcare@sbi and pmcare@icici are fake ids.
4:13 PM
Blogger
10:20 AM
Blogger
India's economic growth is likely to slow down to 4 per cent this fiscal on the back of the current global health emergency, Asian Development Bank said in its outlook for the financial year 2020-21 on Friday. South Asia will face a milder slowdown. Growth in South Asia will decelerate to 4.1 per cent in FY2021 and then recover to 6 per cent in FY2022, it stated.
10:20 AM
Blogger
The World Bank's first set of aid projects, amounting to $1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 nations using the fast-track process, the bank said on Thursday. The largest chunk of the emergency financial assistance has gone to India - $1 billion.
10:20 AM
Blogger
Equity indices plunged in opening session on Friday with the benchmark BSE sensex falling over 350 points, dragged by bank and auto stocks. The 30-share BSE index fell 392 points or 1.39 per cent at 27,873; while the broader NSE Nifty was 89 points or 1.08 per cent at 8,164. Investor sentiment continued to be weighed down by the uncertainty over the COVID-19 pandemic and its economic impact.
10:14 AM
Blogger
9:57 PM
Blogger
9:57 PM
Blogger
8:57 PM
Blogger
6:57 PM
Blogger
6:51 PM
Blogger
6:27 PM
Blogger
6:21 PM
Blogger
3:57 PM
Blogger
3:57 PM
Blogger
3:27 PM
Blogger
2:57 PM
Blogger
2:27 PM
Blogger
1:39 PM
Blogger
The HDFC Group's support to the PM Cares Fund is to commend the exemplary efforts of the Central & State governments, armed and paramilitary forces, local police, healthcare professionals and sanitation workers across the country, who are working tirelessly day in and out to fight the pandemic," HDFC Ltd chairman Deepak Parek said in a statement.
12:39 PM
Blogger
The merger of PNB with OBC and UBI has created the country's second largest state-owned bank with Rs 7.7 lakh crore advances. OBC chief executive Mukesh Kumar Jain, who is now in PNB will be retiring in July. UBI chief executive Ashok Kumar Pradhan will be retiring at the end of May from PNB.
11:57 AM
Blogger
11:39 AM
Blogger
Private sector lender Axis Bank has offered its customers to opt for the loan moratorium if they face problem is keeping their EMIs running, in line with actions of its peers.
10:21 AM
Blogger
9:19 AM
Blogger
Asking borrowers to defer EMIs only if they have no cash, banks have said that interest for the three months would get compounded if not repaid at the end of the period. This could lead to the borrowers paying for several months more depending on the length of their loans.
8:57 AM
Blogger
8:39 AM
Blogger
The Reserve Bank of India (RBI) has rejected requests for standstill in asset classification from banks, dashing the hopes of lenders as well as companies seeking to avoid the defaulter tag.
8:39 AM
Blogger
Investors looking for higher returns post the sharp cut of interest rates in small savings products and bank deposits by up to 140 basis points could turn to banking and PSU debt funds.
7:39 AM
Blogger
The merger of United Bank of India (UBI) and Oriental Bank of Commerce (OBC) with Punjab National Bank has made it the second-largest state-owned bank.
7:09 AM
Blogger
States’ short-term borrowing limits have been increased by as much as 30% as they face pressure on revenues with economic activity coming to a halt and the transfers from the Central government also getting crushed due to lower Goods and Services Tax collection.
4:21 PM
Blogger
3:57 PM
Blogger
3:27 PM
Blogger
3:27 PM
Blogger
3:27 PM
Blogger
3:09 PM
Blogger
Tha RBI notification had said "the repayment schedule for such loans as also the residual tenor, will be shifted across the board by three months after the moratorium period. Interest shall continue to accrue on the outstanding portion of the term loans during the moratorium period".
2:57 PM
Blogger
2:49 PM
Blogger
The three-month suspension of EMI payments may not result in a significant gains for borrowers as they will charge interest for the moratorium period, according to the moratorium scheme announced by state-owned banks.
1:57 PM
Blogger
1:39 PM
Blogger
State-owned Punjab National bank on Wednesday said all nation-wide branches of United Bank of India and Oriental Bank of Commerce has started functioning as PNB branches.
1:21 PM
Blogger
1:19 PM
Blogger
The Reserve Bank of India (RBI) on Wednesday announced more measures to counter the economic fallout of the fast-spreading coronavirus pandemic. In a notification, the central bank mentioned that it has extended the realisation period of export proceeds, increased WMA (Way and Means Advances) limit and implemented countercyclical capital buffer.
12:27 PM
Blogger
11:57 AM
Blogger
11:57 AM
Blogger
10:27 AM
Blogger
10:27 AM
Blogger
10:19 AM
Blogger
Equity benchmark sensex slumped over 700 points in early trade on Wednesday tracking losses in index heavyweights Reliance Industries, Kotak Bank, HDFC Bank and Infosys amid weak cues from global markets.
10:19 AM
Blogger
Hit by the lockdown and faced with uncertainty, many people are looking to avail of the repayment relief that banks are offering. Although banks are yet to announce the details of the relief package and how it will work out, we do know that this is only a grace period and they are likely to charge interest for the unpaid amount.
9:57 AM
Blogger
9:57 AM
Blogger
8:39 AM
Blogger
Customers will either have to contact the bank if they want to take advantage of the moratorium or the bank will allow the three-month break by default.
8:39 AM
Blogger
Lenders do not want any borrower who makes use of the moratorium to fall into the category of a non-performing loan because of having missed payments in the previous two months – January and February. A loan gets classified as a bad loan if the interest or principal is overdue 90 days.
6:57 PM
Blogger
6:19 PM
Blogger
In a relief to customers, some public sector banks on Tuesday announced deferment of EMI (equated monthly instalment) payments on loans for three months following directions by the Reserve Bank of India (RBI) which asked all lending institutions to allow three month moratorium on loan payments as the economy grapples with Covid-19 challenges.
5:39 PM
Blogger
Further, the central government has announced a financial package under the Prime Minister Garib Kalyan Yojana under which approximately Rs 27,500 crores are going to be disbursed during this week and in the coming weeks to the targeted public through bank branches, ATMs and business correspondents (BCS), Bhalla said.
5:27 PM
Blogger
5:21 PM
Blogger
5:21 PM
Blogger
4:39 PM
Blogger
Many borrowers, credit cardholders and mutual fund investors have received SMSes from their lenders reminding them that they need to maintain sufficient balance on the due date. Among others, such messages have been received by people who have taken personal, auto and home loans.
3:39 PM
Blogger
With Indian banks now showing signs of weak financial health, urgent steps are needed to prepare a roadmap for sustainable reforms, Vinod Rai, former Comptroller and Auditor General of India, said in a paper.
3:09 PM
Blogger
SBI chairman Rajnish Kumar said in a release: “It is a matter of pride for SBI that all our employees voluntarily came forward to pledge their two days’ salary to the PM CARES Fund. This is the time where we all need to combat this battle of the Covid-19 outbreak with united efforts. We at SBI would keep continuing our support to the government in all its endeavours to address the challenge.”
3:09 PM
Blogger
The total value of India’s digital lending market is estimated to be more than USD 1 trillion over the next five years. To ensure they grab a share of this m...
2:39 PM
Blogger
Non-life insurance company Future Generali India Insurance on Tuesday said it will give a relief grant of Rs 50,000 each to its 'active' agents, if they or their immediate family members are tested positive for COVID-19.
1:39 PM
Blogger
For bankers, the approaching summer will not only bring a steady rise in temperature, but also branches and offices of the banks will have to face a lot of heat in meeting the tough challenges, in the execution of plans and guidelines announced by regulatory and monetary authorities, in the background of a countrywide lockdown and an acceleration in the spread of COVID 19 with increasing fatality.
1:27 PM
Blogger
12:57 PM
Blogger
12:19 PM
Blogger
Banks and Housing Finance Companies are getting their backend systems ready to take requests from customers wanting to delay their installments by three months. Customers can either opt-in or opt-out of the facility as it is primarily targeted at people who might face loss of liquidity.
11:27 AM
Blogger
10:28 AM
Blogger
9:27 AM
Blogger
8:39 AM
Blogger
Industry experts have pointed out that the central bank relaxation guidelines only cover deferment of principal amounts and lenders may still opt to accrue compounded interest rates in this period, leaving customers under huge repayment burden when the moratorium ends.
8:39 AM
Blogger
There’s misconception among borrowers that RBI has given a loan waiver.
8:21 AM
Blogger
8:19 AM
Blogger
With just two days left for the next EMI cycle to begin, most big lenders are unprepared to follow the Reserve Bank of India’s blanket order allowing borrowers to hold back from paying instalments for the month. Top lenders such as State Bank of India, HDFC Bank, ICICI Bank, Kotak Bank and Axis Bank have not activated any channel for customers to exercise an option.
7:39 AM
Blogger
Some lenders, particularly private sector institutions, fear that if a large number of borrowers refuse to service loans, Reserve Bank of India’s measures to soften the blow from Covid-19 could fall short of requirement. In such a situation the moratorium on interest and loan repayment will more than offset the benefits of extra liquidity.
9:01 PM
Blogger
7:57 PM
Blogger
7:57 PM
Blogger
7:23 PM
Blogger
In case of accidental death or death due to complications arising from accidentally contracting Covid-19, the insurance amount will be paid to a beneficiary or nominee under the certification of the central or state government authorised authority.
6:57 PM
Blogger
6:57 PM
Blogger
4:27 PM
Blogger
3:53 PM
Blogger
Punjab National Bank (PNB) has unveiled a new logo as it merges United Bank of India and OBC with it, with effect from April 1. The new logo will bear distinct signages of all the three public sector lenders.
3:31 PM
Blogger
1:31 PM
Blogger
1:27 PM
Blogger
12:57 PM
Blogger
12:57 PM
Blogger
12:02 PM
Blogger
From April 1, Mangalore-based Corporation Bank and Hyderabad-headquartered Andhra Bank will merge into Union Bank. The merger, which was announced and planned last year, comes into effect amid the Covid-19 lockdown. In an interview with TOI, Union Bank MD & CEO Rajkiran Rai explains how the focus is on zero disruption.
11:27 AM
Blogger
11:27 AM
Blogger
10:57 AM
Blogger
10:57 AM
Blogger
10:27 AM
Blogger
8:53 AM
Blogger
The finance ministry said ₹1.75 lakh crore will be given to “80 crore poorest Indians” under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) over three months starting April 1.
7:53 AM
Blogger
Non-bank lenders, concerned about the ‘discretion’ banks would enjoy on demanding repayments through a three-month grace period, plan to approach the finance ministry and the Reserve Bank of India (RBI).
7:53 AM
Blogger
Union Bank of India will become the fifth largest state-run bank after Andhra Bank and Corporation Bank merge with it on April 1. Six banks are being merged with larger peers to get economies of scale.
7:01 AM
Blogger
11:53 PM
Blogger
Cash deposit and withdrawal, clearing of cheques, remittance services, government transactions and ATM services as listed as essential banking services.
11:53 PM
Blogger
Axis Focused 25 Fund is an open ended equity scheme investing in maximum 25 stocks investing in large cap, mid cap and small cap companies. The scheme invest...
10:53 PM
Blogger
Watch the video to know about Axis Focused 25 Fund. Plan your long term goals with Axis Focused 25 Fund - An open ended equity scheme investing in maximum 25...
9:57 PM
Blogger
7:27 PM
Blogger
6:31 PM
Blogger
4:53 PM
Blogger
The more options we have, more confused we get! The same goes for stocks also, with so many stocks around, investors also get confused. Then how to make the ...
RSS Feed
Twitter
