11:14 PM
Blogger
11:14 PM
Blogger
10:12 PM
Blogger
10:12 PM
Blogger
9:05 PM
Blogger
The updated oversight framework, released by the central bank on Saturday, lays down new designations of systematically important FMIs, legal framework that governs them and the revised oversight scope of the Reserve Bank in regulating the digital payments ecosystem.
9:05 PM
Blogger
The RBI has often acted with haste and betrayed its understanding of co-operative banks.
7:12 PM
Blogger
5:12 PM
Blogger
2:13 PM
Blogger
Axis Bank has reported a cyberfraud of over Rs 2 crore. It was perpetrated by fraudsters who hacked a platform that the lender provided small cooperative banks to facilitate the electronic transfer of funds.
12:13 PM
Blogger
India’s ambitious plan to provide some Rs 3 lakh crore ($39.5 billion) in loans to small businesses to boost an economy ravaged by the coronavirus pandemic has got off to a slow start with banks disbursing only a tiny fraction of the available funds.
8:12 PM
Blogger
8:05 PM
Blogger
For post-Covid recovery, banks must be free of their bad-loan burden.
7:12 PM
Blogger
6:12 PM
Blogger
5:12 PM
Blogger
5:12 PM
Blogger
5:12 PM
Blogger
5:12 PM
Blogger
5:12 PM
Blogger
4:05 PM
Blogger
The Reserve Bank of India has proposed a 10-year limit on bank founders remaining in the roles of CEO or full-time director, according to a discussion paper on corporate governance released on Thursday. The restricted tenure will ensure “separation of ownership from management but also reinforce a culture of professional management,” the paper said.
4:05 PM
Blogger
The 'insta savings bank account' will offer a complete paperless and instant digital savings account opening with just PAN and Aadhaar number, the bank said in a release.
3:12 PM
Blogger
2:12 PM
Blogger
1:12 PM
Blogger
12:12 PM
Blogger
11:14 AM
Blogger
11:12 AM
Blogger
11:12 AM
Blogger
11:12 AM
Blogger
9:13 AM
Blogger
State Bank of India (SBI) has moved the National Company Law Tribunal (NCLT), seeking to recover loans disbursed to the Anil Ambani-led group of companies from a personal guarantee given by Anil Ambani. The bank has filed two applications under section 95(1) to nominate a resolution professional for insolvency resolution process of personal guarantor — Ambani.
9:13 AM
Blogger
Obtaining personal loans is set to get tougher in the post-Covid-19 era as banks tighten credit policy and customer-selection norms. According to credit information company TransUnion Cibil, approval rates are likely to decline for all key retail lending product categories.
9:05 AM
Blogger
The Facebook-owned social media giant has ramped up existing partnerships with some of the biggest names in Indian banking — HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank and RBL Bank. The service is taking off with banks seeing engagements in millions as a nationwide lockdown to curb the spread of the pandemic has caused most branches to remain accessible only for select services.
9:05 AM
Blogger
SBI moved the NCLT under Section 97(3) of Insolvency and Bankruptcy Code (IBC), seeking its intervention to direct the insolvency board to nominate a resolution professional (RP). The bank is aiming to recover a sizeable amount from the personal guarantees made by Anil Ambani on loans to Reliance Communications, said a bank official.
8:14 PM
Blogger
8:12 PM
Blogger
7:12 PM
Blogger
6:12 PM
Blogger
6:12 PM
Blogger
6:12 PM
Blogger
6:05 PM
Blogger
The lenders will prefer the low-risk home loans segment for their retail credit growth, but demand for such credit is set to decline the most as houses become unaffordable and the economic conditions make one defer purchases, it said.
6:05 PM
Blogger
IDBI Bank is now being categorised as a private sector lender after majority stake acquisition by LIC. In January 2019, the insurance behemoth had completed acquisition of 51 per cent controlling stake in the then public sector IDBI Bank, making it the lender's majority shareholder.
5:12 PM
Blogger
4:12 PM
Blogger
4:05 PM
Blogger
Banerjee will lead the HR function and will be responsible for strategic direction of people management, including talent acquisition, training and development, performance management, organisational effectiveness, and succession planning.
2:12 PM
Blogger
2:12 PM
Blogger
2:12 PM
Blogger
11:12 AM
Blogger
11:05 AM
Blogger
A senior government official said that the move will only mean a transfer from the state-run lenders to a new entity, which can be done even now given the large number of asset reconstruction companies that are in the market. “Such transactions often lack transparency as the valuations raise questions,” the official said.
10:12 AM
Blogger
10:12 AM
Blogger
10:12 AM
Blogger
9:14 AM
Blogger
8:14 AM
Blogger
8:14 AM
Blogger
8:14 AM
Blogger
10:14 PM
Blogger
10:05 PM
Blogger
SEBI filed an affidavit in this regard in the apex court which had sought its stand on a plea which sought a clarification on whether the RBI's circular regarding moratorium on loan repayment amid the pandemic applies to Non-Banking Financial Corporations (NBFCs) and if real estate firms are eligible for it.
8:05 PM
Blogger
New Delhi, Jun 10 () Lakshmi Vilas Bank (LVB) on Wednesday said it has appointed B K Manjunath as its non-executive and independent director.
7:12 PM
Blogger
7:05 PM
Blogger
Bank of Baroda has revised its one-year MCLR to 7.65 per cent from 7.80 per cent, a release said. In a separate release, UBI said its one-year MCLR has been reduced to 7.60 per cent from 7.70 per cent.
6:12 PM
Blogger
6:12 PM
Blogger
6:12 PM
Blogger
6:05 PM
Blogger
Punjab National Bank collected around Rs 268 crore as ATM transaction charges and annual maintenance fee on debit cards during 2019-20 fiscal, according to an RTI reply.
5:14 PM
Blogger
5:12 PM
Blogger
5:12 PM
Blogger
5:12 PM
Blogger
5:05 PM
Blogger
Justice Bharati Dangre was on Tuesday hearing petitions filed byHousing Development and Infrastructure Ltd (HDIL) promoters Rakesh Wadhawan and his son Sarang Wadhawan, seeking bail on medical grounds.
4:12 PM
Blogger
3:12 PM
Blogger
3:12 PM
Blogger
3:12 PM
Blogger
2:12 PM
Blogger
12:12 PM
Blogger
9:14 AM
Blogger
9:14 AM
Blogger
8:05 AM
Blogger
India’s insurance regulator has withdrawn all long-term packaged third-party and own-damage policies that insured cars for three years and two-wheelers for five years, arguing that these covers were forced upon customers and raised the on-road prices of new vehicles.
10:05 PM
Blogger
The public lenders sanctioned Rs 1,109 crore worth of loans as of June 8 to 17 micro, small and medium enterprises hubs in 12 states under the ECLGS, according to a tweet by the minister's office. Of this amount, Rs 599.12 crore has been disbursed to 17,094 accounts, the update said.
9:12 PM
Blogger
8:14 PM
Blogger
8:12 PM
Blogger
8:12 PM
Blogger
8:05 PM
Blogger
With this partnership, Empays will upgrade the basic technology behind the IMT Payment System to incorporate the requirements of Mastercard Cardless ATM enabling a true EMV-capable cash withdrawal transaction.
8:05 PM
Blogger
In order to attract deposits, small finance lender Equitas Small Finance Bank on Tuesday said it has increased the rate of interest on savings account having deposits between Rs 1 lakh to Rs 5 crore to 7 per cent per annum from 5.5 per cent.
8:05 PM
Blogger
Insurance industry saw a 25.3 percent year on year contraction in new business premium. However, leading companies, most notably Life Insurance Corp of India (LIC) saw some aspects of their business bounce back in the month as these companies shored up their digital distribution and outreach channels.
7:14 PM
Blogger
7:13 PM
Blogger
Finance minister Nirmala Sitharaman on Tuesday held a review meeting on credit guarantee scheme with heads of public sector banks, and asked them to expedite loan disbursement under the Rs 3-lakh crore ECLGS for MSME sector, hit hard by coronavirus-induced lockdown.
7:12 PM
Blogger
6:12 PM
Blogger
5:12 PM
Blogger
4:14 PM
Blogger
4:12 PM
Blogger
4:12 PM
Blogger
4:12 PM
Blogger
4:12 PM
Blogger
2:12 PM
Blogger
1:12 PM
Blogger
9:14 AM
Blogger
8:14 AM
Blogger
7:05 AM
Blogger
Currently, a deputy managing director holds interim charge of the position as SBI’s earlier full-time CFO, Prashant Kumar, was sent to Yes Bank as its chief executive officer in March this year and the lender wants clarity before making fresh appointments.
9:12 PM
Blogger
9:05 PM
Blogger
In the draft guildelines RBI said has modified the definition of securitisation to include single asset securities against the multiple asset securities allowed in the existing norms.
9:05 PM
Blogger
Special Judge V C Barde permitted the Enforcement Directorate (ED) to confiscate those assets owned by Nirav Modi that are not mortgaged or hypothecated to the PNB. The court, in its order, said the assets shall be attached by the ED under the provisions of the FEO Act within one month.
9:05 PM
Blogger
SBI has slashed MCLR and the external benchmark rate by 25 basis points and 40 basis points respectively.
8:14 PM
Blogger
8:13 PM
Blogger
In a first order of confiscation under the Fugitive Economic Offenders (FEO) Act, a special court Judge V C Barde on Monday directed that properties of Nirav Modi -- declared FEO last December -- be attached by the Enforcement Directorate (ED). However, it significantly exempted from the list, properties secured to Punjab National Bank (PNB) and a consortium of banks either through mortgage, hypothecation or personal guarantee.
8:12 PM
Blogger
8:05 PM
Blogger
Lele said he informed the minister that prominent public sector banks like State Bank of India and Bank of India have started extending loans as per the scheme. But at the branch level, three-year projections of revenue and profitability are sought before sanction, he said.
7:14 PM
Blogger
6:12 PM
Blogger
6:12 PM
Blogger
6:05 PM
Blogger
Bank credit is an important factor illustrative of the general economic climate because it denotes aspects like the investments which are happening in a country or consumption of high-value items. Crisil expects a 5 per cent contraction in India's GDP for 2020-21.
5:14 PM
Blogger
5:12 PM
Blogger
5:05 PM
Blogger
Around 31 per cent of the HFCs' portfolio was under moratorium for two-three months as on April 30, 2020. Further, most of the HFCs have not applied for a moratorium from their lenders.
4:12 PM
Blogger
3:12 PM
Blogger
3:12 PM
Blogger
3:05 PM
Blogger
"I think we have tried the bad bank in the past. If you recall when IDBI had challenges in the early 2000s, there was an IDBI SASF, which was created. A part of non-performing assets (NPAs) of IDBI were moved to that SASF," Kotak told in an interview.
1:12 PM
Blogger
1:12 PM
Blogger
12:12 PM
Blogger
9:05 AM
Blogger
Growth in bank credit to firms has slowed overall in India this year amid the pandemic. The part of the market where banks join together in syndication to extend funds is only a small part of the overall pool. But the fact that it has almost entirely dried up is another sign that lenders are hesitant to provide funding, as they brace for increased bad loans.
10:05 PM
Blogger
The ordinance passed by the government on Friday said that "no application shall ever be filed" for insolvency proceedings on default on or after March 25. It also has a provision to extend the ban on filing new cases up to one year.
9:13 PM
Blogger
The world’s governments and central banks are shifting from rescue to recovery mode as the deepest slump since the Great Depression shows signs of bottoming out.
7:05 PM
Blogger
Despite the lockdown, the largest private sector lender HDFC Bank has been able to add 2.5 lakh new customers in the last 40 days through an online facility which helps open savings accounts instantly.
6:14 PM
Blogger
5:12 PM
Blogger
3:12 PM
Blogger
12:05 PM
Blogger
A legacy of bad loans, a shadow banking implosion and a historic bank bailout in March have left Indian lenders weakened coming into the lockdown, which has stalled the economy and led to a surge in unemployment.
RSS Feed
Twitter
