Why Traditional banks need to partner with fintech firms for delivering essential banking solutions

Many traditional banks have realised that rather than compete, it's better to collaborate and leverage the potential through collaborative strategy. from Banking & Finance – The Financial Express https://ift.tt/2HOy5...

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Paytm to not charge any fee on wallet payments for merchants; move to benefit 1.70 crore users

Paytm said that its move to allow merchants to receive unlimited payments through Paytm Wallet will provide them with a single point of reconciliation for all their payments from Banking & Finance – The Financial Express https://ift.tt/39twU...

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Government opposes further loan moratorium

The government, through Solicitor General Tushar Mehta, told a bench led by Justice Ashok Bhushan that it had already extended the loan moratorium scheme for small borrowers and waived interest on interest. “Any such relief sector-wise would be a problem under Article 32,” he said. from Banking/Finance-Industry-Economic Times https://ift.tt/3fJ6u...

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Let us declare NPAs, banks to Supreme Court; govt pleads against sector-specific relief

Meanwhile, the SC disposed of various petitions filed by individual borrowers who had expressed their satisfaction on the measures taken by the Centre to redress their grievances, including waiver of interest on loan instalments. from Banking & Finance – The Financial Express https://ift.tt/2JhPL...

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Manappuram Finance mulls options to raise funds via borrowings

The Kerala-based lender has reported a good growth in its gold loan portfolio, with consolidated assets under management increasing 18.6% year-on-year to Rs 26,902.73 crore. from Banking & Finance – The Financial Express https://ift.tt/3mfHm...

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India Inc’s overseas borrowings more than double to $8.98 b in Q2

RIL’s fund-raise the prime driver from Business Line - Money & Banking https://ift.tt/3me9e...

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Delhi High Court stays RBI's show cause notice to UVARCL

The Delhi High Court on Friday stayed a Reserve Bank of India notice warning of possible cancellation of UV Asset Reconstruction Company Ltd’s (UVARCL) registration, over what the central bank termed an illegal bankruptcy resolution proposal moved by the ARC for telecom firm Aircel. from Banking/Finance-Industry-Economic Times https://ift.tt/36cO3...

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Irdai gives in-principle approval for Bharti AXA-ICICI Lombard deal

Marking a major consolidation move in the insurance space, the proposed deal was announced in August this year. Bharti Enterprises currently owns 51 per cent stake in Bharti AXA General Insurance, while French insurer AXA has 49 per cent. from Banking/Finance-Industry-Economic Times https://ift.tt/3o1ci...

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IRDAI okays Bharti AXA, ICICI Lombard deal

Our Bureau The Insurance Regulatory and Development Authority of India (IRDAI) has given in-principle approval to the acquisition of non-life insuranc from Business Line - Money & Banking https://ift.tt/39k7T...

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Bank credit to industry recorded negative growth in October: RBI

Non-food credit growth of scheduled commercial banks (SCBs) decelerated to 5.6 per cent in October from 8.3 per cent in October 2019, mainly due to co from Business Line - Money & Banking https://ift.tt/2VflT...

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Private banks’ average lending rate on new loans move up nearly 40 bps in October

Radhika Merwin With the RBI’s next policy meet around the corner and the market debating over the possibility of further rate cuts, the sudden jump in from Business Line - Money & Banking https://ift.tt/3lat0...

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Lakshmi Vilas Bank becomes DBS India; 94-year old bank part of history now

The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday. from Banking/Finance-Industry-Economic Times https://ift.tt/3mfCE...

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Lending institutions have returned Rs. 4300 crore in compound interest: SC on RBI loan moratorium case

The court adjourned the case to December 2 from Business Line - Money & Banking https://ift.tt/39oRo...

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RBI writes down LVB Tier 2 bonds: What are these bonds and why have investors been caught unawares?

Indian banks that made a mad dash to raise capital through Basel III compliant bonds in recent years, could face challenges in tapping this route in t from Business Line - Money & Banking https://ift.tt/33nYW...

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Max Life hires 2,000 executives via digital medium during COVID-19

With the addition, the total workforce strength rose to about 15,000. Hiring was done across diverse verticals such as agency, bancassurance, and internal operations. from Banking/Finance-Industry-Economic Times https://ift.tt/2VeNQ...

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Adani tops DHFL bid, says its bid gives maximum to lenders; rivals want it out of race

Adani Group, which had initially bid only for DHFL's wholesale and Slum Rehabilitation Authority (SRA) portfolio, in the revised offer submitted on November 17 bid for the entire book, offering a total of Rs 30,000 crore plus interest of Rs 3,000 crore, a lending source said. from Banking/Finance-Industry-Economic Times https://ift.tt/36chp...

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DHFL suitors may get time till December 10 to submit bids

Banks keen on higher value, experts say CoC can take decision within IBC norms from Business Line - Money & Banking https://ift.tt/36893...

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RBI has set precedence in LVB bond write-off, will hurt other banks: Report

During the Yes Bank rescue earlier this year also, there was an over Rs 7,000-crore bond write-off, but that involved a different instrument called additional tier-I bonds. from Banking/Finance-Industry-Economic Times https://ift.tt/3lfGm...

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‘Risk premiums for Tier-2 Bonds may go up for weaker private banks’

RBI has set a precedence with the proposed write down of Tier II bond from Business Line - Money & Banking https://ift.tt/3o172...

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Rupee trading with a positive bias

INR opens with a gap-up at 73.78 from Business Line - Money & Banking https://ift.tt/2HF1R...

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A millennial crypto victory bigger than the price of Bitcoin

Sathvik Vishwanath and Harish BV, cofounders of a then five-year-old startup, were arrested in late 2018. No, they hadn’t pulled off a shady initial coin offering. Their “crime” was that they put up a kiosk in a mall in Bangalore where customers could swap Bitcoin, Ether or Ripple for cash or vice versa. That was the whole point of Unocoin, their crypto token exchange. But the police were suspicious of the new-fangled “ATM.” from Banking/Finance-Industry-Economic Times https://ift.tt/3nYrV...

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SBI’s Khara says ‘reason to believe’ India to have effective vaccine by April ’21

‘Indian rupee has been a surprise beneficiary of Covid-19 spread, especially after the initial depreciation’ from Business Line - Money & Banking https://ift.tt/3m6GO...

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Court rejects ED intervention plea against closure report in MSC Bank case

A court here on Thursday rejected the Enforcement Directorate's plea seeking to intervene in the hearing on a closure report of Mumbai Police in the alleged Rs 25,000 crore Maharashtra State Co-operative Bank scam. from Banking/Finance-Industry-Economic Times https://ift.tt/2V83v...

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RBI to LVB: Write down Tier 2 bonds worth ₹318.2 cr

Tier 2 bonds of troubled Lakshmi Vilas Bank amounting to ₹318.2 crore are being written down before its merger with DBS Bank India, based on advice fr from Business Line - Money & Banking https://ift.tt/2V3B7...

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Officers’ organisations demand judicial probe

The four officers’ organisations representing the entire banking industry have denounced the acquisition of Lakshmi Vilas Bank (LVB) by DBS India Ltd from Business Line - Money & Banking https://ift.tt/3l7jv...

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BharatPe eyes $5 billion annualised transaction value from PoS biz in FY21

The point of sale (PoS) business now contributes to 25 per cent of the annualised transaction value, according to a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/3q5BX...

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IRDAI releases norms on info for inspection of insurers

The insurance regulator has come out with new norms for insurers on minimum information they have to provide for inspection and investigation by the from Business Line - Money & Banking https://ift.tt/3q0Zo...

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NPCI broadens shareholding to 67 entities

National Payments Corporation of India has widened its shareholding base to 67 entities and now includes not only banks but also payment and small fin from Business Line - Money & Banking https://ift.tt/2V8GX...

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Govt notifies guaranteed loan scheme for stressed sector

Under the scheme, 100% guarantee for loan would be provided by NCGTC from Business Line - Money & Banking https://ift.tt/3fCoj...

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Bombay HC refuses to stay merger of Lakshmi Vilas Bank, DBS

"We are refusing the interim relief sought by the petitioners to stay the amalgamation. The petitions shall be placed for hearing on December 14 when the respondents (Reserve Bank of India, LVB and DBS Bank India) shall file their affidavits in reply," the court said. from Banking/Finance-Industry-Economic Times https://ift.tt/2V2tK...

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ESAF Bank opens 500th branch in Ahmadabad

ESAF Small Finance Bank opened 500th branch on Thursday in Ahmadabad.“We believe this expansion is a manifestation of our vision to be India's leading from Business Line - Money & Banking https://ift.tt/3fJYH...

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Bombay HC refuses to stay on merger of LVB with DBS Bank India

A petition filed by a group of promoters of LVB and shareholder Indiabulls Housing Finance Ltd challenging the amalgamation of the bank with DBS Bank from Business Line - Money & Banking https://ift.tt/37q9a...

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DHFL posts net loss of ₹2,122.65 crore

Dewan Housing Finance Corporation Ltd (DHFL) reported a consolidated net loss of ₹2,122.65 crore in the second quarter of the fiscal as against a net from Business Line - Money & Banking https://ift.tt/3fFLa...

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RBI's culpability in Lakshmi Vilas Bank's failure needs to be looked into: AIBEA

In a letter to Finance Minister Nirmala Sitharaman on Wednesday, the All India Bank Employees Association (AIBEA) said the approach of merger of the Tamil Nadu-based lender with Indian subsidiary of a Singapore-based bank is opposite to the policy of Aatmanirbhar Bharat professed by the government. from Banking/Finance-Industry-Economic Times https://ift.tt/2V1E3...

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RBL Bank to hold virtual cyclothon to raise funds for girl child education

The funds raised from the event will go towards setting up a second Udbhav RBL School for girl child education. from Banking/Finance-Industry-Economic Times https://ift.tt/2KHlG...

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YES Bank launches remote payment service for merchants

Private sector lender YES Bank has launched a special service that would enable merchants to accept contactless and remote payments from their custome from Business Line - Money & Banking https://ift.tt/2HEev...

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Downside risks to growth continue, says RBI chief

Says calibrated opening up of economy can supplement domestic savings and help finance growth from Business Line - Money & Banking https://ift.tt/3fJ3R...

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Caspian Debt set for next phase of growth

The impact investing fund’s lending is making a difference to start-ups, micro enterprises from Business Line - Money & Banking https://ift.tt/2V61B...

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Proposal to allow business houses into banking a good-looking step in bad direction: Kaushik Basu

Basu further said that there is a good reason why all successful economies have a clear dividing line between industries and corporations on the one hand, and banks and lending organizations on the other. from Banking/Finance-Industry-Economic Times https://ift.tt/2V57M...

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Operations at PSU banks partially hit due to trade union strike

The strike is against the privatisation of banks, outsourcing and contract system in jobs from Business Line - Money & Banking https://ift.tt/3o0WT...

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Operations at PSU banks partially hit due to trade union strike; SBI, private banks functional

Cash transaction including deposits and withdrawal at branches, forex and government transactions have been impacted in many public sector banks where participating unions are strong. from Banking/Finance-Industry-Economic Times https://ift.tt/3ma1J...

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Banking services to get affected as unions go on one-day strike

Ten central trade unions except Bharatiya Mazdoor Sangh are observing one-day general strike on Thursday to protest against various government policies. from Banking/Finance-Industry-Economic Times https://ift.tt/2V0yg...

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DHFL posts net loss of Rs 2,122.65 crore in Q2

Outstanding amount details reported to stock exchanges and NHB, informs company from Business Line - Money & Banking https://ift.tt/2V38B...

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HDFC Bank, ICCI join hands to support SMEs, start-ups

ICCI will evaluate and recommend potential start-ups /SMEs /MSMEs for investments from Business Line - Money & Banking https://ift.tt/2V2IZ...

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Lakshmi Vilas Bank-DBS merger gets Cabinet nod, effective November 27

LVB branches will operate as those of DBS Bank India (DBIL) once the moratorium ends. from Banking & Finance – The Financial Express https://ift.tt/33gYo...

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Bank operations may be hit by unions' strike on Thursday

Many lenders, including IDBI Bank and Bank of Maharashtra, in regulatory filings on Wednesday said their normal working could be affected at the branches and offices. The All India Bank Employees' Association (AIBEA), All India Bank Officers Association (AIBOA) and Bank Employees Federation of India (BEFI) are participating in the strike. from Banking/Finance-Industry-Economic Times https://ift.tt/376G6...

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India Post consumers sweat due to lack of online svcs amid Covid outbreak

A bulk of these schemes need the customer to visit crowded post offices to carry out transactions, since only limited operations can be done online. While banks have issued ATM cards to most of their customers, just 10-15% of India Post’s savings account holders have an ATM card. from Banking/Finance-Industry-Economic Times https://ift.tt/3m6sw...

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FPI inflows highest ever, cross ₹1.5-lakh crore in FY21

Weakness in dollar index, stimulus are the key drivers from Business Line - Money & Banking https://ift.tt/3m9uY...

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Bank credit growth slows to 5.8 per cent in September quarter: RBI data

The deceleration in bank credit growth was seen across all the population groups – rural (11.2 per cent vs 14.8 per cent), semi-urban (9.4 per cent vs 12.3 per cent), urban (8.7 per cent vs 9.9 per cent) and metropolitan (3.6 per cent vs 7.2 per cent), the data showed. from Banking/Finance-Industry-Economic Times https://ift.tt/3m5G0...

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Fino Payments Bank Q2 net up at ₹4.5 crore

Fino Payments Bank Ltd (FPBL) on Wednesday said it has recorded a net profit of ₹4.5 crore in the second quarter (July-September) of FY21.The bank, i from Business Line - Money & Banking https://ift.tt/2HyXG...

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RBI should ‘lean with the wind’ and allow rupee to appreciate: Ecowrap

‘Excess liquidity can impact banking sector profits, initiate asset liability mismatch’ from Business Line - Money & Banking https://ift.tt/3pUGc...

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IndiaFirst Life expects growth in business this year

Protection, guaranteed returns have seen a good demand, says RM Visakha, MD and CEO from Business Line - Money & Banking https://ift.tt/2HzHo...

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Moratorium on Lakshmi Vilas Bank to be lifted on 27 November; customers will shift to DBS Bank

Customers, including depositors of the Lakshmi Vilas Bank, will be able to operate their accounts as customers of DBS Bank with effect from 27 November. from Banking & Finance – The Financial Express https://ift.tt/3l2Qg...

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HDFC Life, HDFC Ergo partner for complete cover against Covid -19

HDFC Life Insurance and HDFC Ergo Health Insurance have partnered to launch a combi product that aims to provide a complete financial protection packa from Business Line - Money & Banking https://ift.tt/39dvj...

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SBI move to hire apprentices ‘not a step in the right direction’

Bank union says the attempt is to engage low-cost labour from Business Line - Money & Banking https://ift.tt/364zL...

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Cabinet approves DBS takeover of Lakshmi Vilas Bank

Following the approval, DBS Group Holdings — Singapore's biggest bank — will take over Lakshmi Vilas Bank in a deal pushed by the RBI. This also marks the first instance when India has turned to a foreign entity to bail out a struggling domestic bank. from Banking/Finance-Industry-Economic Times https://ift.tt/3fwOS...

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RBI panel for companies as bank owners: Why firms mustn’t count chickens before they hatch

Despite briefly allowing industrial and business houses to apply for a banking license under the 2013 edition of its licensing guidelines, the RBI granted a banking license only to two entities. from Banking & Finance – The Financial Express https://ift.tt/2UZ4d...

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Rupee shows bullish inclination

The rupee (INR) appreciated sharply in the initial hour against the dollar (USD) yesterday, but inched down for the rest of the session. However, the from Business Line - Money & Banking https://ift.tt/2J9wP...

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RBI rejects Muthoot Finance's proposal to acquire IDBI Asset Management Company

IDBI Bank, which was planning to sell its mutual fund business for Rs 215 crore to comply with regulations, will now have to find a new buyer. IDBI Bank, which is a subsidiary of Life Insurance Corporation, has to divest its share in the AMC since LIC already has a mutual fund unit. from Banking/Finance-Industry-Economic Times https://ift.tt/33aJ8...

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RSS affiliate urges RBI to reconsider proposal

Swadesi Jagran Manch (SJM), an affiliate of Rashtriya Swayamsevak Sangh (RSS), has urged Reserve Bank of India (RBI) to reconsider proposal regarding from Business Line - Money & Banking https://ift.tt/2J4Ra...

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RBI’s supervisory purview may not enthuse corporates

The possibility of their other businesses coming under the Reserve Bank of India’s (RBI) supervisory purview may hold back large corporate/industrial from Business Line - Money & Banking https://ift.tt/3l85n...

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Union Bank to raise ₹1,000 crore via Basel III compliant Tier II Bonds

Union Bank of India (UBI) on Tuesday said it will be issuing Basel III compliant Tier II Bonds in the nature of Debentures aggregating an issue size n from Business Line - Money & Banking https://ift.tt/39fbQ...

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SBI to raise ₹2,500 crore from Basel III compliant bonds

State Bank of India’s (SBI) Committee of Directors for Capital Raising on Tuesday accorded its approval to allot 25,000 Basel III compliant debt instr from Business Line - Money & Banking https://ift.tt/3fGwX...

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AIBEA threatens strike over RBI panel’s idea to give banking license to corporates

The All India Bank Employees Association (AIBEA) has termed a Reserve Bank of India (RBI) internal panel’s recommendation to give banking license to c from Business Line - Money & Banking https://ift.tt/2JbKR...

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Mongolian bank selects Infosys Finacle for digital transformation

XacBank, a leading universal bank in Mongolia, and Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys on Tuesday announ from Business Line - Money & Banking https://ift.tt/39aJ3...

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Taking banking services to last mile: Women self-help groups driving financial inclusion in India

The incorporation of SHG members as BC Sakhis helps in ensuring financial inclusion, timely capitalization, digitalization of SHG transactions, and overall development of the community. from Banking & Finance – The Financial Express https://ift.tt/2IVIb...

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Centre blocks access to 43 more mobile apps in India

China’s AliBaba group of apps on crosshairs from Business Line - Money & Banking https://ift.tt/2J85b...

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Financial discipline has been visible even in the relatively stressed segments, says Federal Bank chief

Federal Bank delivered a strong operating performance in the September quarter, thanks to good growth in core net interest income and improvement in from Business Line - Money & Banking https://ift.tt/2Hu02...

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AIBEA to join trade unions in nationwide general strike on Nov 26

The association represents the majority of the banks except State Bank of India and Indian Overseas Bank. It has four lakh bank employees from various public and old private sector and a few foreign banks as its members. from Banking/Finance-Industry-Economic Times https://ift.tt/2J43j...

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Mixed reactions to RBI panel proposal for conversion of large NBFCs to banks

The recommendation by the internal working group of the RBI to allow large well-run NBFCs to convert to banks has evoked mixed reactions with many wel from Business Line - Money & Banking https://ift.tt/3m4ri...

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$271 bn consumer spending to shift from cash to cards, digital payments by 2023 in India: Accenture

The report forecasted that nearly 420 billion transactions worth USD 7 trillion, globally are expected to shift from cash to cards and digital payments by 2023 - and increase to USD 48 trillion by 2030. "In India, 66.6 billion transactions worth USD 270.7 billion are expected to shift from cash to cards and digital payments by 2023 - and increase to USD 856.6 billion by 2030," it said. from Banking/Finance-Industry-Economic Times https://ift.tt/370TW...

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Bank NPAs may shoot up next year, when loan moratorium, NPA forbearance mask comes off

Banks will likely have trouble maintaining momentum after the proportion of non-performing loans (NPL) to total loans fell consistently so far this year. from Banking & Finance – The Financial Express https://ift.tt/3m22n...

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PNB customers complain TDS deduction on every cash withdrawal

The incidents happened at the erstwhile United Bank of India branches "The bizarre development came to my notice last night," said Abhijit Sen, a resident of Salt Lake who withdrew Rs 30,000 from a branch in his locality on Monday morning. He got a message later in the day saying the bank deducted Rs 6,000 as TDS. from Banking/Finance-Industry-Economic Times https://ift.tt/3nSqK...

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NPLs in banking sector may shoot up to 11%: S&P Global

Forbearance is masking problem assets for Indian banks arising from Covid-19, according to a report by S&P Global Rating.With loan repayment morat from Business Line - Money & Banking https://ift.tt/35VHw...

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Non-performing loans in Indian banking sector to rise in next 12-18 months: S&P

In its report titled "The Stress Fractures In Indian Financial Institutions", S&P said with loan repayment moratoriums having ended on August 31, 2020, NPLs in the banking sector will likely shoot up to 10-11 per cent of gross loans in the next 12-18 months, from 8 per cent on June 30, 2020. from Banking/Finance-Industry-Economic Times https://ift.tt/3m4Yr...

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Muthoottu Mini Financiers targets ₹1,000-cr business this fiscal

Muthoottu Mini Financiers Ltd, the Kerala-based NBFC, is aiming to achieve a business growth of ₹1,000 crore in the current fiscal through its expansi from Business Line - Money & Banking https://ift.tt/2J3af...

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Infibeam Avenues collaborates with Bank Muscat for digital payment services

Move strengthens Infibeam’s footprint in West Asia from Business Line - Money & Banking https://ift.tt/2HvmL...

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Why digital financial inclusion is still an unfinished project

Biggest challenge in the adoption of digital payments has been the lack of awareness and trust from Business Line - Money & Banking https://ift.tt/3fuRi...

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Cashfree secures $35.3 million as part of Series B raise

Investment was led by Apis Growth Fund II; existing investor Y Combinator too participated from Business Line - Money & Banking https://ift.tt/360iX...

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Half of NBFCs which qualify for bank licence are corporate-owned

The RBI’s internal working group in its report had said that well-run NBFCs, with an asset size of above Rs 50,000 crore, including those which are owned by a corporate house, may be considered for conversion into banks. from Banking/Finance-Industry-Economic Times https://ift.tt/3kYDe...

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Muthoot Finance ties up with Bajaj Allianz

Known as ‘Muthoot Gold Shield’,the policy provides insurance coverage of gold jewellery for individuals at the time of closure of gold loan and release of gold ornaments. from Banking & Finance – The Financial Express https://ift.tt/36ZGU...

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Corporates owning banks: S&P, Raghuram Rajan red-flag concerns

The Reserve Bank of India (RBI) working group’s recommendation to allow corporate houses to own banks has drawn sharp reactions from experts, who have red-flagged risks associated with such a move. from Banking & Finance – The Financial Express https://ift.tt/2J5OT...

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Srei may face problem in raising additional debt, say bankers

The RBI has appointed an auditor to conduct a special audit of Srei Infrastructure Finance and its subsidiary Srei Equipment Finance. from Banking & Finance – The Financial Express https://ift.tt/3kYrv...

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Stout opposition to allowing corporates to promote banks

Ex-central bankers warn of ‘connected lending’, concentration of power from Business Line - Money & Banking https://ift.tt/3nVFT...

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DIPAM proposes to appoint consultant for disinvestment in banks, insurance companies

Floats Request for Proposal from Business Line - Money & Banking https://ift.tt/39m2T...

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Centre to appoint advisor for stake sale in PSBs, insurance cos

Floats RFP; in line with FinMin’s plans for more retail participation in bank ownership from Business Line - Money & Banking https://ift.tt/3kUHj...

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HDFC Bank rolls out ‘Mouth Shut’ campaign against cyber frauds

HDFC Bank has launched the ‘Mouth Shut’ campaign across Tamil Nadu to increase awareness about cyber frauds.The bank plans to conduct Secure Banking w from Business Line - Money & Banking https://ift.tt/33aat...

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Hitachi Payments on expansion spree, to nearly double white label ATMs by March

​ Hitachi's aggressive expansion is interesting as the white label ATM business has been in losses since the beginning primarily because of the lower inter-change charges which the banking industry and the regulator has not been able to revise to a profitable level for the operators, forcing many of them to withdraw from the business. from Banking/Finance-Industry-Economic Times https://ift.tt/3lZn6...

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'Corporate houses in banking a bad idea': Rajan, Acharya slam RBI panel recommendations

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

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Trade finance got more digitised post-Covid: Report

During the pandemic, Axis Bank, HDFC Bank and State Bank of India were most helpful in helping their clients mitigate the impact of COVID-19 on trade finance, according to a survey by Greenwich Associates, the analytics arm of ratings firm Crisil. "Battered by the COVID-19 crisis, large Indian companies are looking to their banks for digital solutions that can make their supply chains more resilient to pandemic-related disruptions" said the report released by Crisil. from Banking/Finance-Industry-Economic Times https://ift.tt/397oM...

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Muthoot Finance, Bajaj Allianz General Insurance tie up to provide insurance on gold jewellery

The policy provides insurance coverage of gold jewellery for individuals. This is designed to provide insurance coverage of gold jewellery articles for customers of the company at the time of closure of gold loan and release of gold ornaments. It will provide insurance coverage to the customers of Muthoot Finance as a loyalty product. from Banking/Finance-Industry-Economic Times https://ift.tt/3fon9...

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Muthoot Finance, Bajaj Allianz General Insurance tie up to provide insurance on gold jewellery

The policy provides insurance coverage of gold jewellery for individuals. This is designed to provide insurance coverage of gold jewellery articles for customers of the company at the time of closure of gold loan and release of gold ornaments. It will provide insurance coverage to the customers of Muthoot Finance as a loyalty product. from Banking/Finance-Industry-Economic Times https://ift.tt/3fon9...

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S&P raises concerns over allowing corporates into banking sector

S&P Global Ratings on Monday said it is sceptical about the Reserve Bank of India (RBI) working group’s recommendations to allow corporate ownersh from Business Line - Money & Banking https://ift.tt/33aDK...

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BharatPe bullish about growth prospects

BharatPe has announced the roll out of its fintech services in Coimbatore.This is in line with its expansion strategy and is aimed at emerging as the from Business Line - Money & Banking https://ift.tt/3fnca...

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Muthoot Finance, Bajaj Allianz in tie-up for gold jewellery insurance

Muthoot Finance has tied up with Bajaj Allianz General Insurance to provide insurance on gold jewellery as part of their new initiative, Muthoot Gold from Business Line - Money & Banking https://ift.tt/2Hsn5...

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Raghuram rajan, viral Acharya slam RBI panel’s suggestion to allow corporates in banking

 Former Reserve Bank of India (RBI) Governor Raghuram Rajan and former Deputy Governor Viral Acharya have stoutly opposed a RBI panel’s recommendation from Business Line - Money & Banking https://ift.tt/33arF...

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Seeing a mix of pent-up and festive demand, says Sumit Bali of Axis Bank

Retail book growth is expected continue, with moderation in unsecured segment from Business Line - Money & Banking https://ift.tt/372P4...

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India’s banking landscape set to transform? RBI panel’s 4 four massive proposed changes

Leveling the playing field, the report also recommends that the 15% cap on promoter holding in the long-run may be increased to 26% from Banking & Finance – The Financial Express https://ift.tt/3pPTr...

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S&P sceptical of allowing corporates into Indian banking

A working group at the Reserve Bank of India recommended a series of changes, details of which were made public last week, that include allowing industrial houses to act as so-called bank promoters, meaning they could take a major stake in a lender. from Banking/Finance-Industry-Economic Times https://ift.tt/37fwj...

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Lives covered under group schemes fall sharply this fiscal

In April-Oct, lives covered declined to 6.8 crore from 11.5 crore last year from Business Line - Money & Banking https://ift.tt/3lRiy...

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Srei Infrastructure Finance stock sinks on RBI’s special audit order of subsidiary

Also, Brickwork downgrades long-term ratings of SREI’s IPDI issue to ‘BB’ from ‘BBB-’ from Business Line - Money & Banking https://ift.tt/3lUVy...

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Allowing corporate houses to own banks could be disastrous: Raghuram Rajan & Viral Acharya

Rajan and Acharya have argued that allowing corporate houses entry into the banking system could intensify the concentration of political and economic power in the hands of a few business houses. from Banking/Finance-Industry-Economic Times https://ift.tt/3lR88...

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Rupee likely to weaken versus dollar

Opens at 74.11, below the important level of 74 from Business Line - Money & Banking https://ift.tt/3nSxi...

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Saraswat Co-operative Bank to mop up more PSLCs to meet revised target

In March 2020, RBI told UCBs to achieve PSL target of 75% of total advances by 2024, up from earlier target of 40% from Business Line - Money & Banking https://ift.tt/3l2uu...

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HDFC Bank restores payment services after outage at data centre

On Sunday morning, the lender tweeted through one of its official handles that the services impacted following the outage have been restored. from Banking & Finance – The Financial Express https://ift.tt/2IQxs...

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As special audit of Srei Infra Finance begins, it's déjà vu for banks and fixed income market

“The Covid-19 has definitely affected the cash flow of our clients, who are primarily contractors and infrastructure companies. In view of the present situation, many of our customers have sought to align repayments with their cash flows. Our liquidity is similarly aligned to those of the clients, which has been in accordance thereof,” A Srei spokesperson said. from Banking/Finance-Industry-Economic Times https://ift.tt/3pT4m...

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Existing players, analysts welcome RBI report on ‘ownership norms’ for private banks

IndusInd Bank and other lenders could gain, say analysts from Business Line - Money & Banking https://ift.tt/3foXR...

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With over 1 million followers on Twitter, RBI creates a world record

In a first among central banks, the Reserve Bank of India (RBI) has become the first monetary authority in the world to have more than 1 million foll from Business Line - Money & Banking https://ift.tt/3flig...

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HDFC Bank restores digital payment services after outage

The private lender had faced unexpected outage at one of its data centres. from Business Line - Money & Banking https://ift.tt/399JN...

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Only Rs 1,000-1,500 cr of loan book to be restructured: Bank of Maharashtra chief

State-run Bank of Maharashtra is expecting only ₹1,000 to ₹1,500 crore of its total advances to come up for one-time restructuring under the Reserve from Business Line - Money & Banking https://ift.tt/3flKg...

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Reserve Bank of India reaches 1 million Twitter followers; first central bank globally to hit milestone

Among the top central banks globally, the Federal Reserve System of the US has 677.3k followers while the European Central Bank has 591k followers, and the Saudi Arabian Monetary Authority has 562.9k followers on Twitter. from Banking & Finance – The Financial Express https://ift.tt/3kN3P...

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Bank of Maharashtra expects only Rs 1,000-1,500 crore loan book to be restructured

The lender had earlier estimated around Rs 3,000-4,000 crore from its moratorium book to come under one-time restructuring. However, over a period of time the moratorium book itself came down drastically from 27 per cent in March to 15-16 per cent (Rs 14,000-15,000 crore) as of end August. from Banking/Finance-Industry-Economic Times https://ift.tt/35Xtm...

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Operation of some banks temporarily halted due to power issue at data centre on Saturday

Power was later restored and banking services were functioning normally, sources said. According to sources, banking operations are now up and running. from Banking/Finance-Industry-Economic Times https://ift.tt/3m6ke...

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IOB expects resolution of NPAs worth Rs 18,000 crore in 2nd half of FY21

State-owned Indian Overseas Bank (IOB) expects resolution of about Rs 18,000 crore of non-performing assets (NPAs) under the insolvency and bankruptcy from Business Line - Money & Banking https://ift.tt/3lOTR...

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Forex reserves increase by over $100 billion since March lockdown; hit lifetime high at $572 billion

The jump was on account of Foreign Currency Assets (FCA), a major component of the country’s reserves, that increased by $5.526 billion to $530.2 billion from $524.7 billion. from Banking & Finance – The Financial Express https://ift.tt/35SvJ...

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IOB expects resolution of NPAs worth Rs 18,000 cr in 2nd half of FY21

The Chennai-based bank is hoping to come out of the prompt corrective action (PCA) framework of the Reserve Bank of India (RBI) next fiscal. from Banking/Finance-Industry-Economic Times https://ift.tt/339nP...

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