Government extends tenure of UCO Bank's MD & CEO for 2 years

The government has also extended the terms of two executive directors each in Punjab National Bank and Union Bank of India, and one executive director of Central Bank of India. from Banking/Finance-Industry-Economic Times https://ift.tt/3sYj8...

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Google Pay may soon allow users to open fixed deposits on its platform

Current reports suggest that the San Francisco based company will partner up with ​Equitas Small Finance Bank for the deposits. Other banks are expected to join too, with Ujjivan Small Finance Bank and AU Small Finance Bank rumoured to be next in line. from Banking/Finance-Industry-Economic Times https://ift.tt/3mElP...

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Why SMEs need insurance cover to manage risks

Every business should have working capital to sustain the functions of the company, pay its employees and grow in the market. Insurance helps in case of unprecedented financial risks and are usually mitigated with insurance coverage. from Banking/Finance-Industry-Economic Times https://ift.tt/3ypRO...

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e-RUPI: A game changer or policy incrementalism?

Designed as a digital pre-paid voucher that targets purpose and person(s) for a given transaction, the e-RUPI promises to plug pilferage in welfare schemes, minimise delays and provide ease of access to beneficiaries. Apart from working through QR codes, it also offers transactions through SMS-based strings, eliminating the need for a smartphone or for beneficiaries to have a bank account. Apparently, all that a person would need is a mobile number. from Banking/Finance-Industry-Economic Times https://ift.tt/2UZNH...

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SEBI bans Kotak Mahindra AMC from launching FMP for 6 months

Penalty for arbitrary ‘standstill’ deal with Essel Group in 2019 after investing in the debt of insignificant arms from Business Line - Money & Banking https://ift.tt/3sTcm...

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RBI discusses a host of issues with small finance banks

The discussion, according to an RBI release, focused on a range of issues including evolution of the business models of SFBs; enhancing board oversight and professionalism; further improvements in assurance functions, compliance; internal control and risk management; and need to build up their IT infrastructure both for enhanced customer experience and for cyber security resilience. from Banking/Finance-Industry-Economic Times https://ift.tt/3jjtQ...

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PNB scam: Properties worth Rs 500 cr of Nirav Modi firms restored to bank

Nirav Modi, who was declared a 'fugitive economic offender' in December, 2019, and his uncle Mehul Choksi are accused of committing a Rs 14,000 crore scam by obtaining credit facilities fraudulently from the PNB, and several of the former's properties as well as that of his kin were attached by the Enforcement Directorate. from Banking/Finance-Industry-Economic Times https://ift.tt/38hSD...

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RBI imposes Rs 6 crore penalty on 4 White Label ATM operators

In a release, it also said a penalty of Rs 3 crore has been imposed on Transaction Analysts (India) Pvt Ltd for contravention of certain provisions of directions related to issuance and operation of prepaid payment instruments (PPIs), and Know Your Customer. from Banking/Finance-Industry-Economic Times https://ift.tt/3kuGg...

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Bank credit grows by 6.55%; deposits by 10.58%

In the year-ago fortnight ended at August 14, 2020, bank advances had stood at Rs 102.19 lakh crore and deposits at Rs 140.80 lakh crore, according to RBI's Scheduled Banks' Statement of Position in India as of July 30, 2021, released on Friday. from Banking/Finance-Industry-Economic Times https://ift.tt/2Wr6r...

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RBI hikes incentives for distribution of coins

Banks asked them to provide coins to bulk customers from Business Line - Money & Banking https://ift.tt/3jnUO...

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Indo-Nepal Remittance: RBI enhances per transaction ceiling 4-fold to ₹2 lakh

The cap of 12 remittances in a year per remitter has been removed from Business Line - Money & Banking https://ift.tt/2UQTC...

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RBI issues Master Directions on Prepaid Payment Instruments

Small PPIs can have cash upto ₹10,000 loaded per month from Business Line - Money & Banking https://ift.tt/3yn0u...

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IDBI Bank board okays divesting entire 19% stake in ARCIL

The board has approved the proposal for sale of IDBI Bank's entire holding of 6,23,23,800 fully paid-up equity shares constituting 19.18 per cent of the total equity share capital of Asset Reconstruction Company (India) Ltd (ARCIL), IDBI Bank said in a regulatory filing. from Banking/Finance-Industry-Economic Times https://ift.tt/3gCPx...

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RBI increases incentives for banks for distribution of coins

This has been done keeping in view the overall objectives of clean note policy and to ensure that all bank branches provide better customer service to people with regard to exchange of notes and distribution of coins, the central bank added. from Banking/Finance-Industry-Economic Times https://ift.tt/3BjBl...

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Online debt arranging platform CredAvenue to double headcount by March 2022

"We expect to double our headcount to 700 by the end of FY22, from 350 now. It was 250 last year. Of the total staff, as much as 450 will be in the technology vertical and we have already hired 100," Gaurav Kumar, founder and chief executive of CredAvenue, told PTI on Friday. from Banking/Finance-Industry-Economic Times https://ift.tt/3ky4r...

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LIC launches Ananda mobile app for agents, intermediaries

A paperless KYC process can be done here using Aadhaar based e-authentication of the life proposed from Business Line - Money & Banking https://ift.tt/3mBof...

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indiagold to raise $12 mn round from PayU, Alpha Wave Incubation fund

The company aims to build a doorstep gold loan business backed by a robust technology stack, AI-based gold assessment capabilities from Business Line - Money & Banking https://ift.tt/3jmhq...

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Sebi bars Kotak AMC from launching new FMP schemes for 6 months, imposes Rs 50 lakh penalty

The order was passed after the markets regulator noticed the investors of certain FMPs launched by Kotak Mahindra Mutual Fund were not paid their full proceeds based on the declared Net Asset Value (NV) as on their respective maturity dates. The order will come into force with immediate effect, as per Sebi. from Banking/Finance-Industry-Economic Times https://ift.tt/3mANF...

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Indifi Technologies partners with Facebook to offers collateral-free loans to SMEs

Under this program, MSME borrowers, across 200 cities, will now be able to apply for unsecured credit of up to Rs 50 lakh at extremely attractive rates, with no processing charges. from Banking/Finance-Industry-Economic Times https://ift.tt/3zqRv...

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10 banks selected to manage LIC IPO

The list includes Goldman Sachs, Citigroup, Kotak Mahindra and SBI Caps, Reuters quoted a government source as saying. from Banking/Finance-Industry-Economic Times https://ift.tt/3sPVC...

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Bigger banks will continue to benefit from the Indian economy which should start seeing growth all over again: Amitabh Chaudhry, MD & CEO, Axis Bank

​​As you rightly pointed out, it is because the extraordinary stimulus has led to system liquidity surplus, resulting in lower market borrowing rates, larger and higher rated corporates are sitting on huge piles of cash. They have repaid their borrowings in the market. So the credit growth of the industrial sector has been driven by mid corporates and some refinancing. from Banking/Finance-Industry-Economic Times https://ift.tt/3BnlB...

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Govt extends tenures of UBI, Central Bank of India's executive directors

The terms of UBI's executive directors -- Manas Ranjan Biswal and Gopal Singh Gusain -- have been extended vide a notification dated August 26, the lender said in a regulatory filing. from Banking/Finance-Industry-Economic Times https://ift.tt/3kt8J...

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Madras HC's bumper-to-bumper insurance order intent laudable, can be challenged

"It is patently untenable order and would not stand legal scrutiny if the vehicle makers or any other aggrieved party goes on appeal," D. Varadarajan, a Supreme Court advocate specialising in company/competition/insurance laws, had told IANS. from Banking/Finance-Industry-Economic Times https://ift.tt/3Dx39...

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Bank Holidays September 2021: Banks to remain shut for up to 12 days in September; check list here

List of Bank Holidays in September 2021, Bank Holidays September 2021 in India: Banks in India will remain closed for up to 12 days in September 2021, including second and fourth Saturdays, and Sundays. from Banking & Finance – The Financial Express https://ift.tt/3znAC...

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Govt extends tenure of 3 managing directors and 10 executive directors of public-sector banks

The department of financial services had recommended the extension of tenure of the top executives of PSBs amid the pandemic. from Banking & Finance – The Financial Express https://ift.tt/38j6i...

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Home loan defaults: Demand, possession, auction notices on the rise as delinquencies climb

A similar trend of auction notices had been observed in the January-March quarter with respect to gold loans. Thereafter, most lenders with a sizeable gold loan portfolio reported a deterioration in asset quality in that segment. from Banking & Finance – The Financial Express https://ift.tt/2XRLK...

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Barclays Bank to infuse over Rs 3,000 crore into India business

The last round of capital infusion was to the tune of Rs 540 crore and was made in 2009-10. The latest infusion will be the largest one-time infusion made by the parent into the India operations since its inception. from Banking & Finance – The Financial Express https://ift.tt/3DlFO...

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Industry welcomes RBI’s move to extend scope of tokenisation to all consumer devices

This update comes in the background of an RBI norm that prohibits payment gateways and payment aggregators from storing customer card details from Business Line - Money & Banking https://ift.tt/3DmJB...

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HDFC Bank lists $1-bn AT-1 bonds on IFSC exchanges

"The primary listing of HDFC AT 1 bond demonstrates the competitiveness of both the IFSC exchanges --India INX and NSE IFSC internationally," Manoj Kumar, Executive Director, IFSCA said. from Banking/Finance-Industry-Economic Times https://ift.tt/3Bkqf...

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PSBs to make additional provision of over ₹21,300 cr for higher family pension, NPS

Special dispensation will be sought from the RBI to allow provisions over next 5 years from Business Line - Money & Banking https://ift.tt/3jjpW...

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GIFT City, ANSR partner to build GICs, GCCs

The central government notified GICs as a financial service relating to financial products and financial services under the IFSCA Act on October 16 last year. from Banking/Finance-Industry-Economic Times https://ift.tt/3B9ap...

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LnD Pool launches certificate programme in banking and insurance

The programme is being offered in association with the BFSI Sector Skill Council of India from Business Line - Money & Banking https://ift.tt/3zjUs...

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RBI appoints Ajay Kumar as ED

He will look after Department of currency management, foreign exchange, and premises department from Business Line - Money & Banking https://ift.tt/2Wr4q...

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PhonePe gets in-principle approval as an account aggregator from RBI

This will help consumers avail financial services in a convenient manner from Business Line - Money & Banking https://ift.tt/2UNJw...

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Three MDs and ten EDs of various PSU banks get term extensions

PNB’s Mallikarjuna Rao, UCO Bank’s Atul Goel and Bank of Maharashtra’s Rajeev get tenure extensions from Business Line - Money & Banking https://ift.tt/2Ww2V...

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Jana Small Finance Bank ties up with two co-op banks to offer digital, payment services

Under the bank sponsorship programme, the RBI has permitted Core Banking Solution (CBS) enabled co-operative banks to issue ATM cards or ATM-cum debit cards to its customers in association with the sponsor bank. from Banking/Finance-Industry-Economic Times https://ift.tt/2WsCS...

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Few takers for restructuring under RBI’s Resolution Framework 2.0: Crisil

95% of companies opting for restructiring belong to sub-investment grade rating category from Business Line - Money & Banking https://ift.tt/3BfBi...

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Bumper-to-bumper insurance of new vehicles must for five years: Madras HC

Order will come into effect for vehicles sold in TN from Sept 1 from Business Line - Money & Banking https://ift.tt/2UMCS...

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Strong buffers to help Indian banks withstand fresh surge in bad loans, says Moody's

India’s second coronavirus wave is increasing asset risks for banks, but the country’s economic recovery, a tightening of loan underwriting criteria and continued government support will prevent a sharp spike in problem loans, it observed. from Banking/Finance-Industry-Economic Times https://ift.tt/3mvZp...

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Second wave of COVID infections increased bank's asset quality risks: Moody's

The country's economic recovery, a tightening of loan underwriting criteria and continued government support will prevent a sharp spike in problem loans, it said. "A severe deterioration of banks' asset quality is unlikely, despite an expected rise in new loan impairments particularly among individuals and small businesses that were hit hardest by the virus outbreak." from Banking/Finance-Industry-Economic Times https://ift.tt/3sNO3...

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Cashfree appoints Ramkumar Venkatesan as SVP of engineering

Venkatesan has more than 24 years of experience in ad-tech, big data, e-commerce, and database technology in US and Indian markets. His most recent role was as CTO and VP of engineering at Jivox, where he led the growth of the engineering team and the acquisition of new customers through product innovation. from Banking/Finance-Industry-Economic Times https://ift.tt/3ydub...

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Barclays infuses Rs 3000 cr into Indian operations

With this infusion, the bank’s total invested capital in the country will increase to over Rs. 8,300 crore. It had last invested Rs 540 crore in 2009-10. from Banking/Finance-Industry-Economic Times https://ift.tt/3ziZJ...

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Barclays announces ₹3,000 cr investment in India operations

Single largest capital infusion by British bank, taking India investment beyond ₹8,300 crore from Business Line - Money & Banking https://ift.tt/2Wosk...

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Covid second wave raises asset risks for banks: Moody’s

Solid economic recovery, tightening of loan underwriting criteria and continued government support to prevent a sharp spike in bad loans. from Business Line - Money & Banking https://ift.tt/3jfeD...

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Barclays to invest more than $400 million to expand India operations

"As economic activity gathers momentum, there is increased demand for capital from clients," said Jaideep Khanna, head of Barclays, Asia Pacific and Country CEO, India. from Banking/Finance-Industry-Economic Times https://ift.tt/3jj4f...

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Only card networks and issuing banks may get to tokenise data

Under the new norms, every online merchant processing transactions for customers will only have access to a 'tokenised' key linked with the consumer's cards instead of the entire card file. from Banking/Finance-Industry-Economic Times https://ift.tt/3gzdn...

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Carol Furtado to take charge as Ujjivan SFB’s OSD from today

Furtado will take charge as the interim CEO, subject to RBI approval, after September 30. She was the CEO of Ujjivan Financial Services, the promoter of Ujjivan SFB. from Banking & Finance – The Financial Express https://ift.tt/2WogB...

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Boosting credit: PSBs to hold another outreach in October, says Finance minister Nirmala Sitharaman

Addressing media after her meeting with chiefs of public-sector banks (PSBs) in Mumbai, Sitharaman said the lenders disbursed loans of as much as Rs 4.94 lakh crore through a similar outreach programme in various districts between October 2019 and March 2021. from Banking & Finance – The Financial Express https://ift.tt/3DkZT...

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KPMG to advise govt on IDBI Bank sale, expression of interest in October

Discussion will soon start with the Reserve Bank of India on the structuring of the transaction in terms of glide path (of the new promoter's holding), voting rights, etc,” a senior official told FE. from Banking & Finance – The Financial Express https://ift.tt/3zkyS...

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Industry working with RBI on secured card data storage: Payments Council of India

Secure card-on-file solutions will ensure a near similar customer experience for online purchases and smooth checkouts on payments from Banking & Finance – The Financial Express https://ift.tt/3BcQn...

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Karnataka Bank launches KBL FASTag

Bank’s MD & CEO Mahabaleshwara MS said customers could buy the FASTag through online from the bank’s website or by visiting its branch. from Banking/Finance-Industry-Economic Times https://ift.tt/3mwFh...

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FM Nirmala Sitharaman launches next gen banking reforms to drive digital growth among PSBs

Under EASE 4.0, PSBs would offer new age 24x7 banking with resilient technology has been introduced to ensure uninterrupted availability of banking services, improving the reliability of technology platforms, and aligning internal processes in the state-run banks to deliver such services. from Banking/Finance-Industry-Economic Times https://ift.tt/3mxy8...

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Karnataka Bank launches KBL FASTag

Will facilitate users with ease and convenience during transit through toll plaza by saving time, fuel and money from Business Line - Money & Banking https://ift.tt/3kncK...

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Banks to start credit outreach programme later this year: Finance Minister

To provide support to exporters, sunrise sectors, fintechs from Business Line - Money & Banking https://ift.tt/38dTe...

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PSBs to transform into ‘digital-attacker banks’ under EASE 4.0 reforms agenda

EASE 4.0 commits PSBs to tech-enabled, simplified and collaborative banking from Business Line - Money & Banking https://ift.tt/3jhPj...

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Karnataka Bank launches KBL FASTag for seamless toll deduction

Mahabaleshwara MS, Managing Director and CEO of the Bank said: "The FASTag facilitates the users with the ease and convenience during transit through the toll plaza by saving time, fuel and money". from Banking/Finance-Industry-Economic Times https://ift.tt/3DgZx...

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Family pension hiked for bank employees

Employer's contribution to NPS also increased from Business Line - Money & Banking https://ift.tt/3gyGB...

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FM Nirmala Sitharaman asks banks to conduct credit outreach programme across India

“This year too sometime in October, there will be a credit outreach in every district of the country,” the finance minister said. “In order to keep up the momentum of stimulus that we are periodically giving we have also asked banks to go out and give credit.” from Banking/Finance-Industry-Economic Times https://ift.tt/3gwL8...

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Govt hikes pension payout for families of deceased PSB bankers to 30% of last drawn salary

from Banking/Finance-Industry-Economic Times https://ift.tt/38bSY...

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FM asks banks to work with state govts to push ‘one district, one product’ agenda

She also urged banks to interact with export promotion agencies, chambers of commerce and industry to understand and address the requirement. from Business Line - Money & Banking https://ift.tt/3kgWv...

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Nirmala Sitharaman sets the agenda for state banks. Ease 4.0 reform highlights

Sitharaman met heads of PSBs to review financial performance of the lenders and progress made by them to support the economy battered by COVID-19 pandemic. from Banking/Finance-Industry-Economic Times https://ift.tt/3zfVw...

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CredAble ropes in Ranjit Singh as EVP and head of credit

According to a statement shared by the company, Singh has been a corporate banker for 13 years with Rabobank and Standard Chartered Bank. from Banking/Finance-Industry-Economic Times https://ift.tt/3yjmT...

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FSS Technologies forays into insurance market with first partnership

Askrindo has implemented FSS' Smart Recon solution to modernize and maximize the efficiency of its reconciliation operations. Askrindo needed to automate time-consuming, manual spreadsheet-based reconciliation processes, which created challenges around efficiency, accuracy, and control. from Banking/Finance-Industry-Economic Times https://ift.tt/3zhzW...

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How Max Life wants to leverages AI/ML to improve customer experience

To ensure at least 70-75 per cent of the policies are auto underwritten in coming days, says COO Manu Lavanya from Business Line - Money & Banking https://ift.tt/2ULQ2...

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India considers allowing foreign direct investment in Life Insurance Corp

To enable overseas investors to participate in the initial public offering from Business Line - Money & Banking https://ift.tt/3mwLn...

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ICICI bank files cheating case against Karvy Stock Broking Ltd

Funds raised by KSBL by pledging shares of its six bankers were transferred to the firm's own bank accounts, and not into ‘Stock Broker Client Account', which is in contravention with the SEBI guidelines, the police said. from Banking/Finance-Industry-Economic Times https://ift.tt/3gxx0...

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RBI approves re-appointment of Sandeep Bakhshi as MD and CEO of ICICI Bank

Move effective from October 15, 2021 till October 3, 2023 from Business Line - Money & Banking https://ift.tt/3DhRZ...

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Harvard Business Publishing features merger of Allahabad Bank, Indian Bank as a case study

Curated by Indian School of Business (ISB), this unique case study titled ‘Merger of Equals: The Amalgamation Story of Indian Bank and Allahabad Bank’ encapsulates the remarkable journey that Indian Bank embarked on to successfully execute the amalgamation process. from Banking & Finance – The Financial Express https://ift.tt/3jeXz...

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Slippages this fiscal will be little below FY21 level: City Union Bank chief

At a recent earnings conference call, N Kamakodi, MD & CEO of CUB, said the total incremental slippages will be slightly better than the last financial year. The bank is expecting a better recovery in the second half of the current financial year, resulting in gross and net NPAs at the year-end being at a shade lower than the last year. from Banking & Finance – The Financial Express https://ift.tt/2WkmT...

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Banks take ‘buy now pay later’ route to grow customer base

Both strategies are aimed at analysing behavioural trends among the younger segment of the population, many of whom have been introduced to deferred payments through the BNPL route. Most of them do not have a credit card or any record of their credit behaviour. from Banking & Finance – The Financial Express https://ift.tt/2WlXp...

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MFIs, Assam govt sign MoU for Assam Microfinance Incentive and Relief scheme

Speaking on the MoU signing occasion in Guwahati on Tuesday, Sarma said the scheme, Assam Micro Finance Incentive and Relief Scheme (AMFIRS), 2021, would involve Rs 12,000 crore credit portfolio, out of which the state government would be required to expend around Rs 7,200 crore. from Banking & Finance – The Financial Express https://ift.tt/3sJDt...

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Policy action for recovery has to be carefully calibrated: RBI chief

Ever since the pandemic began, we have endeavoured to nurture and revive the process of growth. We have provided congenial financial conditions, says RBI chief Shaktikanta Das. from Business Line - Money & Banking https://ift.tt/3jjB2...

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Avantha case: Court allows Rana Kapoor's lawyer to be present during ED's questioning

Kapoor is currently in judicial custody after being arrested in March 2020 in the alleged Yes Bank fraud case. ​​The ED is probing an alleged transaction between the Avantha Group of Companies' promoter Gautam Thapar and Rana Kapoor and his wife. from Banking/Finance-Industry-Economic Times https://ift.tt/3yedK...

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‘ICICI Pru Life witnessing renewed interest in ULIPs on back of buoyant equity markets’

Also seeing increased demand for annuity products, says Chief Distribution Officer Palta from Business Line - Money & Banking https://ift.tt/3Ddkm...

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HDFC Bank divests over 2 per cent stake in CDSL for Rs 223 crore

The bank sold 20,36,000 shares (1.95 per cent) of CDSL at an average price of Rs 937.46 per piece on June 22. On August 23, it sold 2,13,481 shares at Rs 1,168.94 apiece and on August 24, it sold 61,519 shares for Rs 1,119.31 apiece. from Banking/Finance-Industry-Economic Times https://ift.tt/3gsMB...

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FM to meet CEOs of public sector banks on Wednesday

Meeting is expected to take stock of the banking sector and its progress on the restructuring 2.0 scheme announced by the RBI from Business Line - Money & Banking https://ift.tt/3j9NV...

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BharatPe launches ‘12% Club’ app, eyes $50 mn lending AUM

The fintech company has partnered with RBI-approved NBFCs to offer this investment-cum-borrowing product for consumers from Business Line - Money & Banking https://ift.tt/3zfhi...

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HC directs Kotak Mahindra Bank to ensure at least ₹1.80 crore balance in Afghan Embassy accounts

To cover an arbitral award in favour of a local construction company from Business Line - Money & Banking https://ift.tt/3mu1a...

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Richer, Wiser, Happier

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

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Don't let your behavioural biases spoil your investment journey

from Banking/Finance-Industry-Economic Times https://ift.tt/3B5jQ...

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Thinking, Fast and Slow by Daniel Kahneman

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

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MFIN signs MOU between Assam government and 37 microfinance lenders

AMFIRS is aimed at providing financial relief from the Government to the microfinance borrowers in Assam to help them continue maintaining good credit discipline in COVID times. The scheme will provide incentive to clients who are regular in repayments and help overdue clients become regular – it is expected to benefit more than 20 lakh women borrowers in the State. from Banking/Finance-Industry-Economic Times https://ift.tt/3B8kv...

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Check Nidhi companies' antecedents before investing money; 348 entities failed to meet criteria: MCA

This is the second time in six months that the corporate affairs ministry has come out with an advisory as there are a large number of companies, which, though functioning as Nidhi companies, have not applied for such a status under the relevant rules. Nidhi companies are non-banking finance entities that are into lending and borrowing with their members. from Banking/Finance-Industry-Economic Times https://ift.tt/3khpB...

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Eldeco group and HDFC capital set up Rs 150 crore affordable and mid-income housing fund

“Inline with the ‘Housing for all 2022’ vision of the Government of India, HDFC’s endeavour is to help address the demand-supply gap in affordable housing in India by providing flexible, long-term capital to leading developers across India. We are committed to partnerships with trusted real estate brands like Eldeco with a good track record of development and delivery,” said Renu Sud Karnad, Managing Director, HDFC Ltd. from Banking/Finance-Industry-Economic Times https://ift.tt/2WjNW...

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Canara Bank allots over 16.73 cr shares in ₹2,500 cr QIP

Paid-up equity share capital increases to ₹1,814.13 crore from Business Line - Money & Banking https://ift.tt/3gqmt...

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Aditya Birla Sun Life Insurance announces up to 15% reduction in premium rates of DigiShield

Commenting on the premium price reduction of ABSLI DigiShield Plan, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, said, "The pandemic lasted longer than expected with people experiencing strains on their personal finances. We have been meticulously observing the pandemic experience before making any price revisions in our products." from Banking/Finance-Industry-Economic Times https://ift.tt/3jbdC...

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HDFC Bank aims to regain cards market share in 3-4 months

Prior to the ban, HDFC Bank held pole position in terms of both number of cards in force as well as card spends. from Banking & Finance – The Financial Express https://ift.tt/3DawV...

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Centrum Financial Services to set up SFB to take over PMC

RBI had accorded ‘in-principle’ nod to CFSL in June to set up the bank from Business Line - Money & Banking https://ift.tt/3zd8B...

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RBI panel pushes for merger of weaker Urban Co-operative Banks

All-inclusive directions should be treated on a par with moratorium under Section 45 of the Banking Regulation, it says from Business Line - Money & Banking https://ift.tt/3khtT...

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RBI wants NAFCUB to expedite setting up of umbrella organisation to support urban co-operative banks

The National Federation of Urban Co-operative Banks and Credit Societies Ltd (NAFCUB) should expedite the process of setting up the Umbrella Organisat from Business Line - Money & Banking https://ift.tt/3mlxx...

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Yes Bank Scam: Rana Kapoor files recall application against court's order allowing ED to question him

The ED had registered a money laundering case based on the predicate offence registered by the Central Bureau of Investigation (CBI) against Kapoor, his wife Bindu Kapoor and promoter of Avantha group, Gautam Thapar for “illegal gratification in lieu of favours extended in connection with official work". from Banking/Finance-Industry-Economic Times https://ift.tt/388yN...

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IIFL Wealth and Asset Management appoints Anshuman Goenka as private equity business head

Goenka has earlier worked with Investcorp, where he led investments in healthcare and financial services. He has also worked at Standard Chartered PE and Baer Capital Partners. from Banking/Finance-Industry-Economic Times https://ift.tt/3ybqs...

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RBI committee suggests measures to strengthen the Urban co-operative banks

The committee headed by former deputy governor N S Vishwanathan, suggesting a four tiered structure based on the size of deposits recommends setting up of an Umbrella Organisation with a minimum capital of Rs 300 crore to help smaller co-operative to acquire scale and help with capital and liquidity support whenever needed. from Banking/Finance-Industry-Economic Times https://ift.tt/387Uv...

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LIC launches campaign for policyholders to revive lapsed policies

Under the 'Special Revival Campaign', policies of specific eligible plans can be revived within five years from the date of the first unpaid premium, subject to certain terms and conditions, the insurer said in a release. from Banking/Finance-Industry-Economic Times https://ift.tt/3zaK6...

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RBI slaps Rs 20 lakh penalty on NE & EC Railway Employees' Multi-State Primary Co-op Bank

In a statement, the RBI said the inspection report of the bank based on its financial position as on March 31, 2019 revealed non-adherence/violation of specific directions issued to it under the Supervisory Action Framework (SAF). from Banking/Finance-Industry-Economic Times https://ift.tt/3j9TJ...

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Deposit customers, alliances to lead HDFC Bank's credit card comeback

On December 3 last year, RBI barred HDFC Bank from issuing new credit cards and introducing new digital products after multiple glitches linked to digital banking, cards and payments on the bank's platform were reported in the past two years. from Banking/Finance-Industry-Economic Times https://ift.tt/38846...

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HDFC Bank looks to regain credit card market share in 3-4 quarters

Lender plans to issue 3 lakh credit cards per month from Business Line - Money & Banking https://ift.tt/3j6nb...

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PSBs to push co-lending with NBFCs, digital, agri financing under Ease 4.0 reform

Launched in January 2018, Enhanced Access and Service Excellence (Ease) is the common reform agenda for all public sector banks (PSBs) aimed at institutionalising clean and smart banking. Ease 4.0 reforms agenda for financial year 2021-22 is likely to be unveiled by Finance Minister Nirmala Sitharaman later this week, sources said. from Banking/Finance-Industry-Economic Times https://ift.tt/3AYVx...

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