FM Nirmala Sitharaman meets heads of insurers; stresses on faster claim settlement

​​During a virtual meeting with the heads of insurance companies, she stressed on the importance of streamlining the process and documentation requirements under the schemes so that the claims are disbursed speedily, an official statement said. from Banking/Finance-Industry-Economic Times https://ift.tt/3ikxK...

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DSP MF moves court to secure ₹100 cr investment in Sintex NCD

The move follows Axis Bank’s declaratory suit claiming first charge over the proceeds from sale of assets by Sintex BAPL from Business Line - Money & Banking https://ift.tt/34MpN...

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IndusInd Bank to raise climate financing to 3.5 pc in two years

The bank promoted by the Hinduja group also said it has made it to the Carbon Disclosure Project (CDP) list for the sixth consecutive time, making it the only Indian bank to get featured in this prestigious list. from Banking/Finance-Industry-Economic Times https://ift.tt/3vTQS...

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PNB eyes three-fold jump in bottomline at ₹ 6,000 cr in FY’22

This depends on economy growing 9.5 per cent this fiscal and Covid second wave getting flattened by end June, says Mallikarjuna Rao from Business Line - Money & Banking https://ift.tt/3geXd...

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PNB eyes 3-fold rise in profit at nearly Rs 6,000 crore in FY'22

On the loan growth, Rao said, it should be between 8 and 10 per cent for the banking industry on the assumption that the economy will grow at 9.5 per cent in 2021-22. from Banking/Finance-Industry-Economic Times https://ift.tt/3vTWr...

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PNB to transfer Rs 8,000 crore loans to bad bank

Proposed National Asset Reconstruction Company (NARCL) or bad bank is expected to be operational by next month. from Banking/Finance-Industry-Economic Times https://ift.tt/3fP4n...

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Digital banking: Guess who could laugh all the way to the bank?

Digital banking has reached such levels of disruption that the disrupted are unaware of disruptors racing ahead. from Banking & Finance – The Financial Express https://ift.tt/3uSIv...

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RBI incentivises lenders to create Covid loan book for contact-intensive sectors

“In order to mitigate the adverse impact of the second wave of the pandemic on certain contact-intensive sectors, a separate liquidity window of Rs 15,000 crore is being opened till March 31, 2022, with tenors of up to three years at the repo rate,” said governor Shaktikanta Das. from Banking & Finance – The Financial Express https://ift.tt/3gejM...

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‘RBI’s Rs 16,000 crore special liquidity facility to Sidbi to help MFIs mitigate Covid-related challenges’

"Further, it will help the MFIs provide financing support to their customers and resume normalised disbursements once the lockdowns are gradually relaxed and economic activities start functioning in normal manner," Hebbar said. from Banking & Finance – The Financial Express https://ift.tt/3ig41...

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RBI announces second round of G-SAP to keep yields in check

The first two auctions conducted by the RBI under the first G-SAP programme helped keep interest rates benign for 91-day T Bills, commercial papers and certificates of deposit. The market was keenly looking out for another round of G-SAP, which the RBI announced on Friday. from Banking & Finance – The Financial Express https://ift.tt/2Rmgj...

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NPAs may remain within projections: RBI Governor Shaktikanta Das

“I think the figures (NPAs) are quite manageable, but I would not say anything beyond that because our teams are assessing the numbers and we will spell out details in the upcoming financial stability report (FSR) later this month, " Das further said. from Banking & Finance – The Financial Express https://ift.tt/3cel8...

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RBI announces second round of G-SAP to keep yields in check

The first two auctions conducted by the RBI under the first G-SAP programme helped keep interest rates benign for 91-day T Bills, commercial papers and certificates of deposit. The market was keenly looking out for another round of G-SAP, which the RBI announced on Friday. from Banking & Finance – The Financial Express https://ift.tt/2Rmgj...

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NPAs may remain within projections: RBI Governor Shaktikanta Das

“I think the figures (NPAs) are quite manageable, but I would not say anything beyond that because our teams are assessing the numbers and we will spell out details in the upcoming financial stability report (FSR) later this month, " Das further said. from Banking & Finance – The Financial Express https://ift.tt/3cel8...

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SBI Chennai circle gets new CGM

R Radhakrishna has taken charge as the new Chief General Manager of State Bank of India, Chennai circle. Before his elevation as CGM, Radhakrishna se from Business Line - Money & Banking https://ift.tt/3uMC0...

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Religare Enterprises eyes fundraise to infuse capital into Religare Finvest, other businesses

Board to meet on June 8 to consider fundraising from Business Line - Money & Banking https://ift.tt/3cimo...

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‘Consumer confidence slips to a new low in May’

Consumer perceptions on general economic situation and employment scenario lowered further from Business Line - Money & Banking https://ift.tt/34Mvv...

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RBI policy will help revive growth amidst second wave of Covid, say Bankers

The status quo on rates and the accommodative stance of the Reserve Bank of India will help revive growth amidst the second wave of the Covid-19 pande from Business Line - Money & Banking https://ift.tt/3ceP9...

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‘Forex reserves may have crossed $600-billion mark’

The reserves jumped by $5.271 billion in the week ended May 28, 2021 to stand at $598.2 billion from Business Line - Money & Banking https://ift.tt/3fRai...

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Major concerns around cryptocurrency: RBI

“The central bank does not give investment advice. It is up to each investor to make their own appraisal and due diligence” from Business Line - Money & Banking https://ift.tt/3yY4s...

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‘Focus on growth will continue’

The six-member monetary policy committee decided to maintain status quo on the policy repo rate to support growth, which has been laid low by the sec from Business Line - Money & Banking https://ift.tt/3fR1S...

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PNB Q4 net up 16% sequentially

Full financial year net profit surpasses ₹2,000-cr mark from Business Line - Money & Banking https://ift.tt/2SWfZ...

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RBI approves re-appointment of Vishwavir Ahuja as MD, RBL Bank

Ahuja reappointed for 1-year period from Business Line - Money & Banking https://ift.tt/3gazm...

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Finance minister to meet heads of insurers on Saturday

Since 2014, the Modi government has taken various financial inclusion initiatives to empower the people, it said in another tweet. from Banking/Finance-Industry-Economic Times https://ift.tt/3uLD9...

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SBI sanctions ₹3725 crore for Noida International Airport

Airport being developed in close partnership with the government of Uttar Pradesh and the Central government from Business Line - Money & Banking https://ift.tt/3wUTA...

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Will the proposed Bad Bank cure India’s banking sector? Here’s how it may shape up

A Bad Bank, or even a network of bad banks, will not make the losses disappear. The losses, or non-performing loans, transferred to a bad bank will still exist. from Banking & Finance – The Financial Express https://ift.tt/3cjQ9...

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Bank of India posts Q4 profit of ₹250 crore

Had suffered a loss of ₹3,571 crore in the year ago quarter from Business Line - Money & Banking https://ift.tt/3yVyf...

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RBI to extend ₹16,000-cr special liquidity facility to SIDBI

MSMEs, other businesses to gain from Business Line - Money & Banking https://ift.tt/3gcDc...

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Five key takeaways from today's RBI policy meet as second wave of COVID-19 ebbs

from Banking/Finance-Industry-Economic Times https://ift.tt/3z4Or...

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National Automated Clearing House to be available on all days from August 1: RBI

NACH facilitates one-to-many credit transfers such as payment of dividend, interest, salary and pension. It also facilitates collection of payments pertaining to electricity, gas, telephone, water, periodic instalments towards loans, investments in mutual funds and insurance premium. from Banking/Finance-Industry-Economic Times https://ift.tt/2RkzH...

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RBI allows banks to buy-back Certificates of Deposits

RBI also decided to permit Regional Rural Banks (RRBs) to issue Certificates of Deposit from Business Line - Money & Banking https://ift.tt/3uRkL...

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NACH to be available all days of the week, starting August 1

it has emerged as a popular and prominent mode of direct benefit transfer from Business Line - Money & Banking https://ift.tt/3wUqP...

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RBI opens liquidity tap for banks to lend to contact-intensive sectors

To benefit hotels, restaurants, tourism and rent-a-car service providers. from Business Line - Money & Banking https://ift.tt/3icRN...

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RBI increases exposure threshold for Resolution Framework 2.0

Enhances maximum aggregate exposure to ₹50 crore for MSMEs and others from Business Line - Money & Banking https://ift.tt/3vS80...

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RBI to purchase ₹1.20 lakh cr worth of G-Secs in Q2 under G-SAP

Under the programme, RBI commits upfront to a specific amount of open market purchases for an orderly yield curve. from Business Line - Money & Banking https://ift.tt/3pgKM...

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RBI keeps rates unchanged to support growth

This follows expectations of slowing growth, even as inflationary risks persist from Business Line - Money & Banking https://ift.tt/3vMiP...

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Micro lenders face rating downgrade risk amid second wave

Any such possible downgrades will likely raise MFIs' funding costs compounding the problem of asset-liability mismatch at a time when collection efficiencies have deteriorated amid localized lockdowns. from Banking/Finance-Industry-Economic Times https://ift.tt/3yTeA...

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G-Sec market sees mild rally despite two papers devolving on PDs at the auction

RBI devolved about 98 per cent and 28 per cent of the notified amount at the auction of 2026 GS and 2050 GS respectively from Business Line - Money & Banking https://ift.tt/3z2kc...

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Public sector banks sanction 95% of total loans under PM SVANidhi scheme

Under the scheme, collateral-free working capital loan of up to Rs 10,000 of one-year tenure is being provided. The scheme aims at financing approximately 50 lakh street vendors, to resume their businesses. from Banking/Finance-Industry-Economic Times https://ift.tt/3vIWv...

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IDBI Bank invites applications for post of IT head on contract basis

The overall work experience of the candidate should be of 20 years in the field of information technology, of which at least 10 years should be at a senior level, preferably in an IT unit of a bank or financial institution, IDBI Bank said in a notice. from Banking/Finance-Industry-Economic Times https://ift.tt/2RiZT...

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City Union Bank hopes to maintain better asset quality in FY22 amid second wave blues

We will be seeing things getting eased up once the lockdown is removed, says Managing Director Kamakodi from Business Line - Money & Banking https://ift.tt/34JA4...

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ACKO clocks Rs 100 crore from employee group health insurance premium in FY21

The company has recorded over Rs 100 crore in premium for its Employee Group Health Insurance in FY21, and within one year of launch, the company said in a release. from Banking/Finance-Industry-Economic Times https://ift.tt/3uLCh...

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India's IDBI Bank secures USD 239 million debt judgement in UK High Court

Mumbai-headquartered IDBI had entered into loans totalling USD 148 million with two Singapore registered companies -- Varada Drilling One Pte Ltd and Varada Drilling Two Pte Ltd -- for the construction of two jack up drilling rigs in March 2013. from Banking/Finance-Industry-Economic Times https://ift.tt/3cdCF...

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HDFC Bank plans to become carbon neutral by 2031-32

"Today, we want to pledge that we, as a bank, want to become carbon neutral by the financial year 2031-32," its Group Head (CSR, Business Finance and Strategy, Administration and Infrastructure) Ashima Bhat told reporters. from Banking/Finance-Industry-Economic Times https://ift.tt/3piNS...

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HDFC bank plans to turn carbon neutral by 2031-32

As part of its ESG strategy, it will also focus on offering loans for green products like electric vehicles from Business Line - Money & Banking https://ift.tt/3z17M...

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Spice Money looks to expand beyond payments, scale up network

Rural fintech currently serves 2.5 crore customers, and it wants to scale it up to 10 crore over some time. from Business Line - Money & Banking https://ift.tt/34Ezm...

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'Banks can take over Vijay Mallya's properties worth Rs 5,600 cr': Mumbai PMLA court

from Banking/Finance-Industry-Economic Times https://ift.tt/3pgtQ...

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Public sector banks list Rs 82,500 crore NPAs for bad bank

According to banking sources, work is progressing on multiple fronts to ensure that the bad bank starts operations as soon as possible. On Wednesday, bankers met to finalise the capital structure of the bad bank (NARCL). Sources said that the company would need at least Rs 6,000-crore capital of equity and debt to start operations. from Banking/Finance-Industry-Economic Times https://ift.tt/2SUA1...

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Muthoot Finance Q4 net rises 22% to Rs 1,024 cr

Gold loans under management reported a quarter-on-quarter growth of 5% during Q4, while other loans declined by almost 9%. from Banking & Finance – The Financial Express https://ift.tt/3g77G...

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Banks can now sell Mallya’s Rs 5,646 cr properties, securities

The assets including several floors of the UB City commercial tower in Bengaluru’s central business district and shares in United Breweries and United Spirits that Mallya had controlled are estimated to be valued at ₹5,646.54 crore. from Banking/Finance-Industry-Economic Times https://ift.tt/3fJGp...

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Credit to pick up, slippages to slide in FY22: Bank of Baroda CEO Sanjiv Chadha

Last year GDP growth was negative. This year even if there is a correction from the initial double digit estimates for real GDP, norminal growth will be 13% to 14% which will have some implications on credit growth. We are looking at a loan growth of 7% to 10% compared to 5% last year. he said. from Banking/Finance-Industry-Economic Times https://ift.tt/3uLcK...

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Banks, asset managers want RBI to allow sale of fraud loans to ARC

Stakeholders believe that since there has been negligible recovery in such fraud cases from either the bankruptcy mechanism or the DRT, allowing such accounts to be sold to ARCs could fetch better returns and free up capital for fresh growth. from Banking/Finance-Industry-Economic Times https://ift.tt/3cade...

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Banks need to beef up on the ground security at ATMs : AIBOC

In the wake of increased cases of fraud at unguarded ATMs from Business Line - Money & Banking https://ift.tt/2S40L...

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KVGB conducts vaccination camp for bankers

More than 200 bank employees were vaccinated on Wednesday from Business Line - Money & Banking https://ift.tt/3cbZ5...

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RBI’s MPC begins deliberations amidst hopes of status quo in policy rate

Impact of second wave of Covid-19, fears of rising inflation may keep rates unchanged from Business Line - Money & Banking https://ift.tt/3pkIJ...

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Indian banks shrink overseas wholesale loan book amid surfeit of global liquidity

Hunt for better return on wholesale lending in India from Business Line - Money & Banking https://ift.tt/3c8OU...

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We are looking at a revival through retail focus, says Shivan JK, MD, Dhanlaxmi Bank

Head of the Thrissur-based private bank is optimistic of achieving a good growth rate in the current fiscal from Business Line - Money & Banking https://ift.tt/3vIkp...

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Bharti AXA Life in bancassurance pact with Shivalik Small Finance Bank

To make available health insurance solutions to Shivalik’s customers across 31 branches from Business Line - Money & Banking https://ift.tt/3g8BM...

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Fintech start-up Boxop ties up with Mahindra Insurance for Covid treatment

Boxop to provide service across Kerala through Akshaya Kendras from Business Line - Money & Banking https://ift.tt/2Renm...

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Central authority needed to vet write-off, compromise proposals: AIBEA

In 2019, bad loan write-offs by banks amounted to ₹1,83,391 crore from Business Line - Money & Banking https://ift.tt/34C8P...

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Coinbase to allow users to use card via Apple, Google wallets

These cards can be used to buy everyday goods with digital currencies from Business Line - Money & Banking https://ift.tt/3fFrT...

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‘NPAs can decline due to cleaning up of balance sheet, improving credit cycle’: Interview | Sanjiv Chadha, MD and CEO of Bank of Baroda

There are two reasons for corporate growth. One is how the working capital cycle has changed. Last year, due to reduced activity levels, working capital utilisation came down very significantly. from Banking & Finance – The Financial Express https://ift.tt/3cbd9...

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Delay in insolvency resolution continues to be cause for concern

79% cases as of March-end breach deadline from Business Line - Money & Banking https://ift.tt/3pbXk...

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UPI transactions in May fall for second straight month

Bharat BillPay, AePS figures up, data show from Business Line - Money & Banking https://ift.tt/34DlG...

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Will ensure there is no room for accidents in corporate loan book: Sanjiv Chadha, MD & CEO, Bank of Baroda

‘BoB’s credit quality, retail growth engine and Current Account, Savings Account deposits are resilient’ from Business Line - Money & Banking https://ift.tt/3fCyw...

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Despite RBI clarification, crypto deals still remain a grey area for investors, banks

Central bank asks bankers to allow transactions after customer due diligence from Business Line - Money & Banking https://ift.tt/3fG7P...

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Non-banks' NPAs may rise to 4.5-5 per cent by March 2022: Icra

Icra Ratings said non-banks (NBFC and HFCs) will feel the stress of the second wave of COVID-19 and movement restrictions imposed by various states in April-May 2021, given the fact that 25-30 per cent of their loan collections happen through field collection teams and largely via cash. from Banking/Finance-Industry-Economic Times https://ift.tt/3yU8R...

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ICICI Lombard partners with Microsoft to automate audits of service calls

The deployment of Azure’s artificial tools has, among other things, allowed ICICI Lombard to improve the accuracy of its quality audits. According to Girish Nayak, ICICI Lombard’s chief technology officer, the use of cognitive intelligence technology will automate quality checks which will in turn make their service more efficient. from Banking/Finance-Industry-Economic Times https://ift.tt/3i62Y...

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SBI invites bids from ARCs for two accounts for recovering Rs 409 crore

As per the bank's revised policy on sale of financial assets, in line with regulatory guidelines, SBI said it places these accounts for sale to banks, ARCs (asset reconstruction companies), NBFCs or FIs (financial institutions). from Banking/Finance-Industry-Economic Times https://ift.tt/3cbi4...

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HDFC Bank deploys Mobile ATMs across 50 cities in India

Customers can conduct over 15 types of transactions using the Mobile ATM, which will be operational at each location for a specific period. The Mobile ATM will cover 3-4 stops in a day. from Banking/Finance-Industry-Economic Times https://ift.tt/34BmY...

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NBFC collections fall, NPAs to rise due to lockdowns: ICRA

NBFCs with exposure to sectors like microfinance, rural/semi-urban borrowers with small-ticket (SME, vehicle loans) and unsecured loans which have a higher share of field collections will be hit hardest, impacting their asset quality and hence profits. from Banking/Finance-Industry-Economic Times https://ift.tt/3cbdD...

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Resurgence of Coronavirus to hurt commercial vehicle loans: Moody’s

"Slowing economic activity in India due to the second wave will constrain commercial vehicle owners' capacity to pay auto loans. As a result, commercial vehicle loan delinquencies will increase in India and collection rates will remain below March levels over the next three to six months," says Dipanshu Rustagi, a Moody's Assistant Vice President and Analyst. from Banking/Finance-Industry-Economic Times https://ift.tt/3yLUT...

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Kapil Wadhawan appeals against NCLAT stay on his offer for DHFL in SC

NCLAT on May 25 stayed the Mumbai NCLT’s order directing the administrator of DHFL to consider a settlement proposal from its former promoter Kapil Wadhawan. from Banking/Finance-Industry-Economic Times https://ift.tt/3yQPX...

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SBI’s Ecowrap revises FY22 GDP projection to 7.9% from 10.4%

GDP outlook will be impacted by the trajectory of international commodity prices, it said from Business Line - Money & Banking https://ift.tt/3p8L8...

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Investors cheer after RBI clarifies crypto trading isn’t banned

The regulator told banks not to cite a 2018 central bank circular as a reason to hinder crypto trades from Business Line - Money & Banking https://ift.tt/3ibO2...

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RBI slams foreign banks on data rule

The Reserve Bank of India (RBI) has pulled up several multinational banks operating in the country for not providing a board-approved system audit report certifying compliance with its data-localisation norms. from Banking/Finance-Industry-Economic Times https://ift.tt/3i8wm...

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Rupee Co-op Bank granted extension of banking licence

The bank is earning profit consecutively for the last five years. Till March-2021, bank had paid Rs 366.54 crore to 92602 depositors under the Hardship Scheme. from Banking & Finance – The Financial Express https://ift.tt/3p8EZ...

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RBI asks banks not to cite its 2018 cryptocurrency circular

Points out that the circular quoted has been set aside by the apex court from Business Line - Money & Banking https://ift.tt/3iaFk...

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RBI cancels licence of Pune-based Shivajirao Bhosale Sahakari Bank

As per data submitted by Shivajirao Bhosale Sahakari Bank, more than 98 per cent of the depositors will receive full amount of their deposits from the Deposit Insurance and Credit Guarantee Corporation (DICGC), the RBI said in a release. from Banking/Finance-Industry-Economic Times https://ift.tt/3g3Iw...

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RBI cancels licence of Pune-based Shivajirao Bhosale Sahakari Bank

More than 98% of the customers to receive full deposit from Business Line - Money & Banking https://ift.tt/3c96v...

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Canara Bank appoints S K Majumdar as CFO

Majumdar, Chartered Accountant and Cost Accountant by qualification, has vast banking experience of more than 21 years from Business Line - Money & Banking https://ift.tt/3fBRv...

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RBI extends banking license of Rupee Co-operative Bank till August 31

"The Bank has taken steps like attachment of properties of defaulter borrowers, public auctions of the same, filing criminal suits against defaulter borrowers/guarantors, etc. The Bank has also informed the names of its defaulter borrowers/guarantors to other banks for effective recovery," said Sudhir Pandit, administrator, Rupee Bank. from Banking/Finance-Industry-Economic Times https://ift.tt/3uCsx...

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Group health insurance start-up Plum raises $15.6 million in Series A led by Tiger Global

The funds raised will be used to scale up engineering, business development and operations teams from Business Line - Money & Banking https://ift.tt/3fUUo...

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Reported loss due to shift to new tax regime: Sanjiv Chadha, Bank of Baroda

"Because we have such a high taxable profit, we thought that this is the right time for us to transit into the new tax regime which lowers the tax rate for the bank from 33-34% to 25%." from Banking/Finance-Industry-Economic Times https://ift.tt/3vPmg...

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PNB Housing Finance to raise Rs 4,000 cr from entities affiliated to Carlyle

from Banking/Finance-Industry-Economic Times https://ift.tt/3i74L...

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PNB Housing Fin board approves capital raise of up to ₹4,000 crore

Carlyle Group to pump in ₹3,185 crore through preferential allotment from Business Line - Money & Banking https://ift.tt/3fR55...

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BNP Paribas appoints Aymar de Liedekerke Beaufort as head of India operations

This is in addition to Beaufort's current responsibility as the head of the bank's eight branches and chief of corporate and institutional banking (CIB) in India. Beaufort will take over his additional responsibilities from September 1, the bank said in a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/34xdK...

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A sizzling rally lures HDFC to do more equity deals

Will be hard for the bank to grab a bigger market share as it grapples with uncertainty over its asset quality from Business Line - Money & Banking https://ift.tt/3fy31...

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Paytm cuts down losses, revenue improves to ₹3,115 crore

Fintech major had earlier indicated listing after trimming down the losses. from Business Line - Money & Banking https://ift.tt/3uB4o...

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PNB Housing Finance Board approves capital raise of up to ₹4,000 crore, led by Carlyle

Carlyle Group to pump in ₹3,185 crore through preferential allotment; transaction to trigger mandatory open offer by Pluto Investments from Business Line - Money & Banking https://ift.tt/3wLyZ...

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Carlyle, others pump Rs 4,000 crore in PNB Housing Finance

Pluto Investments, an affiliated entity of Carlyle Asia Partners has agreed to invest up to Rs 3,185 crore through a preferential allotment of equity shares and warrants, at a price of Rs 390 per share. Existing shareholders of the Company, funds managed by SSG and General Atlantic, are also participating in the capital raise. from Banking/Finance-Industry-Economic Times https://ift.tt/3vCjN...

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Bank holidays in June 2021: Banks to remain closed for up to 9 days next month; check full list here

Bank holidays June 2021: Banks in India will remain closed for up to nine days in June, including second and fourth Saturdays, and Sundays. from Banking & Finance – The Financial Express https://ift.tt/3fypf...

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Covid treatment: Banks offer unsecured loans of up to Rs 5 lakh

The launch of the new schemes was announced by SBI chairman Dinesh Khara and Indian Banks’ Association chairman Rajkiran Rai on Sunday. Khara said that SBI has decided to price its unsecured loans at 8.5%. from Banking/Finance-Industry-Economic Times https://ift.tt/2ROYO...

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Banks move Supreme Court against RTI disclosure, seek direction to RBI

Public disclosure of information pertaining to commercial confidence, business strategies, internal system, risk management, gas, etc would not serve any larger public interest, but would adversely affect the competitive position of banks in a highly competitive private banking sector in our country, they told the top court. from Banking & Finance – The Financial Express https://ift.tt/3uyze...

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SBI should be able to build a book of Rs 2,000 crore through expanded ECLGS: Dinesh Khara

Earlier in the day, Finance Ministry had enlarged the scope of the Rs 3 lakh crore ECLGS to cover loans up to Rs 2 crore for setting up on-site oxygen generation plants at healthcare facilities and brought in the ailing civil aviation sector under its ambit. from Banking & Finance – The Financial Express https://ift.tt/3vASm...

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‘RBI may keep repo rate unchanged’

The MPC has held repo rate rock-steady at 4% since May 2020 from Business Line - Money & Banking https://ift.tt/2Rb1e...

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Banks can lend about ₹46,000 crore to MSMEs, civil aviation sector

Scheme extended up to Sept-end or till guarantees of ₹3-lakh crore are issued from Business Line - Money & Banking https://ift.tt/3fZCI...

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Why credit growth hit a 59-yr low in FY21? AAA-rated papers were 46 bps cheaper than bank rates

According to analysis of the corporate bond yields, bank's MCLRs and GSecs between January 2020 and March 2021 by Care Ratings, AAA-rated companies could sell their debt at a cheaper rate than bank loans to the extent of 46 bps, and AA+ papers by 33 bps over the MCLR or the marginal cost of funds-based lending rate and below which a bank cannot lend. When compared to the Gsecs, AAA and AA+ papers could command only 100 bps over the benchmark gilts. from Banking/Finance-Industry-Economic Times https://ift.tt/34wIm...

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Banks send advisories to customers to not transact in cryptocurrencies

Restrictions put up for cryptocurrencies trading through customer accounts as it is not permitted by the RBI from Business Line - Money & Banking https://ift.tt/3c3SQ...

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PNB to exit Canara HSBC Oriental Bank Life

Bank will divest stake at an ‘appropriate time, depending on market conditions’ from Business Line - Money & Banking https://ift.tt/2SE9E...

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Banks have room to lend Rs 45,000 cr more under ECLGC scheme: IBA CEO

To support the businesses affected by the second wave of COVID-19, the Finance Ministry on Sunday enhanced the scope of ECLGS, including providing concessional loans to hospitals/nursing homes for setting up on-site oxygen generation plants. from Banking/Finance-Industry-Economic Times https://ift.tt/3i3bp...

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IRDAI asks insurers for speedy claims settlement in areas hit by cyclones Tauktae, Yaas

General and standalone health insurance companies have also been asked to mitigate the hardships of the affected insured population by ensuring immediate registration and settlement of eligible claims. from Banking/Finance-Industry-Economic Times https://ift.tt/3fzzB...

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PSBs to follow templated approach to restructure loans

Resolution process has to be invoked within 30 days from the receipt of the application from Business Line - Money & Banking https://ift.tt/3p2Gj...

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Dhanlaxmi Bank posts ₹5.28 crore net profit in Q4

CASA deposits grew by 20.28 per cent during the year from Business Line - Money & Banking https://ift.tt/3wHzb...

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Bajaj Allianz Life settles claims worth Rs 700 cr in FY21, says CEO Chugh

"Usage of technology, the way product mixes came up, a lot of term buying, a lot of guaranteed products and the kind of agility shown by the industry helped the sector," Bajaj Allianz Life Insurance MD and CEO Tarun Chugh told PTI in an interaction. from Banking/Finance-Industry-Economic Times https://ift.tt/3c4QY...

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Banks to extend unsecured personal loans for Covid treatment

Banks to create Covid loan book as per the RBI’s announcement from Business Line - Money & Banking https://ift.tt/3p4VH...

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Banks begin process of restructuring of loans up to Rs 25 crore

This is a one-time loan restructuring scheme under which the loan would remain standard despite recast and banks would not have to make additional provision in such cases. from Banking/Finance-Industry-Economic Times https://ift.tt/3p4BJ...

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SBI LIVE: Chairman Dinesh Khara to announce strategic initiatives at 12 noon; bad bank, more mergers on cards?

SBI Press Conference LIVE: State Bank of India (SBI), along with the Indian Banks Association (IBA), has called for a press conference today at 12 noon to announce some strategic initiatives from Banking & Finance – The Financial Express https://ift.tt/34sAo...

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Dhanlaxmi Bank reports 103% y-o-y increase in 4th quarter net profit

The Thrissur-based lender reported a 103% year-on-year increase in its fourth quarter net profit to R5.28 crore, mostly on lower provisions for bad loans. from Banking & Finance – The Financial Express https://ift.tt/3vAVO...

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BoB reports net loss of Rs 1,047 crore due to one-time tax reversal of Rs 3,837 crore

The domestic net interest margin (NIM) of the lender declined 23 basis points (bps) quarter-on-quarter (q-o-q) and 3 bps y-o-y to 2.73%. from Banking & Finance – The Financial Express https://ift.tt/34rDD...

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Punjab National Bank to divest stake in Canara HSBC OBC Life Insurance

The city-headquartered state-owned bank had acquired a stake in the life insurer post amalgamation of the erstwhile Oriental Bank of Commerce (OBC) into itself last fiscal year. from Banking/Finance-Industry-Economic Times https://ift.tt/3wFJd...

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