Atul Kumar Goel joins Punjab National Bank

He will take charge as MD & CEO of PNB on Feb 1 from Business Line - Money & Banking https://ift.tt/3pJOV...

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HDFC Life Insurance completes Exide Life Insurance buy

The process for merger of Exide Life with HDFC Life will be initiated soon from Business Line - Money & Banking https://ift.tt/3EOnr...

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Uco Bank's AK Goel joins PNB as officer on special duty

The Appointments Committee of the Cabinet (ACC) approved Goel as the next incumbent at the second largest public sector bank after State Bank of India. from Banking/Finance-Industry-Economic Times https://ift.tt/3ELPM...

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Atul Kumar Goel takes charge as ‘officer on special duty’ in PNB

Punjab National Bank on Saturday said Atul Kumar Goel has taken charge as an ‘officer on special duty’, before taking over as its new MD and CEO next month. Pursuant to the Department of Financial Services, Ministry of Finance, Government of India Notification dated December 28, 2021, Atul Kumar Goel has assumed office as Officer on Special Duty in Punjab National Bank, with effect from January 1, 2022, PNB said in a regulatory filing. Goel will assume office as Managing Director and Chief Executive Officer of the bank with effect from February 1, 2022, upon the superannuation of S S Mallikarjuna Rao. Rao’s superannuation as MD and CEO of the bank is on January 31, 2022. from Banking &...

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Bitcoin ends its bang of a 2021 with a December whimper

Cryptocurrency is buffeted by concerns over greater regulatory scrutiny, loses dominance to lesser-known coins from Business Line - Money & Banking https://ift.tt/3ELEO...

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West End Housing Finance applies for SFB licence

It was started by late PD Gupta, a Grade F Officer of Reserve Bank of India from Business Line - Money & Banking https://ift.tt/3EC05...

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Asheesh Pandey joins Bank of Maharashtra as Executive Director

He has handled a diversified portfolio in his professional career spanning more than 24 years from Business Line - Money & Banking https://ift.tt/3mGgC...

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Fintech platform WeRize achieves operational profit in 2-1/2 years of inception

The company attributes this feat to its social distribution model and lean approach l from Business Line - Money & Banking https://ift.tt/3eIZJ...

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Aditya Birla Health Insurance gross written premium jumps 39 pc to Rs 764 cr in H1 FY22

Aditya Birla Health Insurance Co. Limited. (ABHICL), the health insurance subsidiary of Aditya Birla Capital Limited (ABCL), has completed five years with a gross written premium (GWP) of Rs 764 crore in H1 FY22, the insurer said in a release. It had registered a gross written premium of Rs 550 crore in the first half of the last fiscal. from Banking/Finance-Industry-Economic Times https://ift.tt/3sMVX...

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RBL Bank’s board constitutes search panel to identify MD & CEO

Earlier, RBI had given the nod to appoint Rajeev Ahuja as Interim Managing Director & CEO from Business Line - Money & Banking https://ift.tt/3JsRu...

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Deadline relief: Bank KYC to GST returns

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3FKLJ...

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RBL to hire search firm to zero in on next CEO

The RBL Bank board decided in its meeting on Thursday to hire a search firm to identify a new CEO. The board also appointed a search committee comprising directors to evaluate candidates for the top position at the bank. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3pH0A...

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PB Fintech to invest up to ₹700 crore in Policybazaar Insurance Brokers

Also to invest up to ₹229.99 crore in Paisabazaar Marketing and Consulting from Business Line - Money & Banking https://ift.tt/32BSS...

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LIC, GIC Re and New India systemically important insurers: IRDAI

D-SIIs refer to insurers of such size, market importance, and domestic and global inter-connected, whose distress or failure would cause significant dislocation in the domestic financial system. from Business Line - Money & Banking https://ift.tt/3pIxl...

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Deadline relief: Bank KYC to GST returns

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/31g82...

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LIC, GIC and New India are “too big to fail", says IRDAI

Those are state-backed entities including Life Insurance Corporation of India, General Insurance Corporation of India and New India Assurance, the insurance regulator said in a release on Thursday. from Banking/Finance-Industry-Economic Times https://ift.tt/3zfMQ...

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RBL Bank raises Rs 2,600 crore via certificate of deposits

The move is also aimed at demonstrating investor confidence in the bank where a change of guard on Christmas Day was immediately preceded by central bank intervention in board composition. from Banking/Finance-Industry-Economic Times https://ift.tt/3eDBi...

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SBI set to embrace new benchmarks in LIBOR transition

“LIBOR Transition is a significant financial event for international financial markets,” said Ashwini Kumar Tewari, Managing Director (International Banking, Technology & Subsidiaries), SBI. “As the country’s largest bank, SBI has been assiduously tracking the global developments in the LIBOR space to align with the best practices and has proactively modified its systems and processes to embrace the change from LIBOR to ARR.” from Banking/Finance-Industry-Economic Times https://ift.tt/3qDco...

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LIBOR Transition: Systems and processes aligned to support transactions linked to ARR, says SBI

India’s largest bank said it has already started offering ARR-based products to the customers through its domestic and foreign branches from Business Line - Money & Banking https://ift.tt/3pAOG...

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Godrej Housing Finance partners with LeadSquared to drive sales efficiency

Digital lending in India is expected to become a $1 trillion market by FY23 from Business Line - Money & Banking https://ift.tt/3Jv81...

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RBI okays RBL Bank’s interim appointment

Rajeev Ahuja named interim MD and CEO for three months from Business Line - Money & Banking https://ift.tt/3qyOE...

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Pvt cryptocurrencies pose immediate risks to customer protection, prone to frauds: RBI

Longer-term concerns relate to capital flow management, financial and macro-economic stability, monetary policy transmission and currency substitution from Business Line - Money & Banking https://ift.tt/3sNHO...

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HDFC Bank to hold more fraud awareness workshops at educational institutions

HDFC Bank has planned to organise more financial fraud awareness workshops at schools, colleges and universities across the country to apprise students of major cyber threats with an aim to build a culture of safe banking digitally.In 2020, the bank had conducted over 1,000 workshops at educational institutions, including schools (X-XII students), colleges and universities, reaching out to around 30 lakh individuals. It has taken an ambitious target of organising over 2000 such workshops in the next few months. “India has witnessed unprecedented growth in digitisation. Today, younger ones at home are helping in ordering food, medicines and other household goods through multiple apps. We want...

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RBI reiterates concerns over private cryptocurrencies

The Reserve Bank of India (RBI) on Wednesday reiterated its concerns over private cryptocurrencies globally, saying such assets pose immediate risk to customer protection, complying with practices of anti-money laundering and combating financing of terrorism. Cryptocurrencies are prone to fraud and extreme price volatility, given their highly speculative nature, central bank said in its financial stability report. Longer term concerns related to private cryptocurrencies are capital flow management, financial and macro-economic stability, monetary policy transmission and currency substitution, the report said. It added that as per the Financial Action Task Force (FATF), the virtual asset ecosystem...

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Banks’ bad loans may soar to 9.5% by Sept 2022: RBI

The Financial Stability Report released by RBI on Wednesday projects banks’ gross NPAs rising to 8.1% of total assets by September 2022 from 6.9% in Sept 2021 under a baseline scenario and to 9.5% under severe stress scenario. All earlier projections after the pandemic reflected far worse outcomes than the present report. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3HnjB...

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CEOs of public sector banks earn thrice the average pay

It is 75 times and 67 times more in small finance banks and private banks, respectively from Business Line - Money & Banking https://ift.tt/3EDPX...

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Success rate for discounting MSME receivables on TReDS improved in FY21: RBI

TReDS is an electronic platform for facilitating the financing/discounting of trade receivables of MSMEs through banks and non-banking finance companies from Business Line - Money & Banking https://ift.tt/3FJJo...

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With economic rebound, microfinance institutions set to grow at 12-15 per cent: ICRA

MFIs collections have bounced back to March 2021 level, and the asset quality remains monitorable. from Business Line - Money & Banking https://ift.tt/34a9P...

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Central Bank of India, NPCI tie-up to launch RuPay debit card for corporates

The new debit card offers an ATM withdrawal limit of ₹1 lakh and a host of other benefits. from Business Line - Money & Banking https://ift.tt/3mFgJ...

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Paytm Payments Bank expands its board, inducts three independent directors

Former DPIIT Secretary Ramesh Abhishek, banking veteran Manju Agarwal and former Citibank executive Shinjini Kumar inducted as Independent Directors from Business Line - Money & Banking https://ift.tt/3qvrL...

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Banks’ gross NPAs decline to 6.9%

Despite the pandemic, asset quality in the banking sector has improved. The gross non-performing asset ratio (GNPA) for scheduled commercial banks (SCBs) decreased to 6.9% as at the end of September from 7.3% in March, and 8.2% in FY20, due to lower slippages, according to data released by the Reserve Bank of India (RBI) on Tuesday. In absolute terms, the gross bad loans of banks stood at Rs 8.37 lakh crore at the end of March, lower than Rs 8.99 lakh crore a year ago. With the decline in delinquencies, the provisioning requirements of banks have also dropped and the net NPA ratio of both public and private sector lenders decreased to 3.1% and 1.4%, respectively, as per the RBI’s report...

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Karnataka govt partners with NPCI and SBI for enabling and implementing e-RUPI

Karnataka government will get e-vouchers delivered to the mobiles of eligible students from Business Line - Money & Banking https://ift.tt/3euXz...

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IndusInd Bank announce launch of ‘Green Fixed Deposits’

Investing in green deposits allows customers to build a cleaner and better society. from Business Line - Money & Banking https://ift.tt/3z5ue...

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Axis Bank is 2nd largest in PoS machines

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3mCWh...

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Bank of Maharashtra, MAS Financial ink co-lending pact

Agreement to benefit both entities in the expansion of the portfolio. from Business Line - Money & Banking https://ift.tt/3FCZ8...

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Centre appoints Atul Kumar Goel as new MD & CEO of Punjab National Bank

Soma Sankara Prasad appointed as MD & CEO of UCO Bank from Business Line - Money & Banking https://ift.tt/3HhNg...

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RBL Bank’s financial health stable: RBI

The Reserve Bank of India (RBI) on Monday observed RBL Bank was well-capitalised and said the lender’s financial position is ‘satisfactory’. The central bank clarified the appointment of its executive Yogesh Dayal to the board of the private sector lender saying appointments of additional directors in private banks are undertaken under Section 36AB of the Banking Regulation Act, as and when it is felt the board needs closer support in regulatory or supervisory matters. The RBL Bank stock crashed 18% on Monday after developments over the weekend that saw the appointment of a central bank executive to its board and the sudden departure of CEO and MD Vishwavir Ahuja, six months ahead of the completion...

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RattanIndia Enterprises appoints Amitav Panigrahi as CEO for fintech biz

Rattanindia Enterprises Ltd. has appointed Amitav Panigrahi as Chief Executive Officer of its fintech business in Neotec Enterprises Ltd.Panigraphi w from Business Line - Money & Banking https://ift.tt/32A4K...

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Rupee falls 13 paise to 75.16 against US dollar in early trade

Forex traders said growing concerns over Omicron and its impact on economic recovery as well as firm crude oil prices weighed on the local unit from Business Line - Money & Banking https://ift.tt/3EpeG...

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RBL Bank's financial health remains stable: RBI

Allaying investors' concerns and calming speculations, the Reserve Bank of India on Monday issued a statement clarifying that the financial health of RBL Bank is stable. It further added that the private sector lender is well capitalised and that its financial position is satisfactory. from Banking/Finance-Industry-Economic Times https://ift.tt/3sC3e...

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IndusInd Bank, NPCI tie-up to offer remittances to India using UPI IDs

Becomes the first Indian bank to go live on UPI for Cross Border Payments/NRI Remittances. from Business Line - Money & Banking https://ift.tt/3z2iE...

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Fintech platform Eko witnesses 30% month-on-month growth within seven months

While the nationwide lockdowns led to a sharp decline in the company's and its partners’ businesses, Eko embraced the digital route to acquire and retain users over its existing offline-only operations. The company quadrupled the volume of new transacting users in six months, exceeding the volumes of pre-covid offline acquisitions per month, it said in a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/3eoIO...

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Delhi High Court orders stay on DRT proceedings against Yes Bank over Dish TV shares

The court was hearing a plea by the lender challenging an order of the DRT, which had directed Yes Bank to maintain status quo with regard to enforcing its rights on the 44.53 crore shares of Dish TV India that are currently held by the bank. from Banking/Finance-Industry-Economic Times https://ift.tt/3z7Nl...

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RBL Bank downplays fears of trouble, claims fundamentals intact

By PIYUSH SHUKLA After the worrying developments on Saturday when RBL Bank CEO Vishwavir Ahuja went on leave and the Reserve Bank of India (RBI) appointed Yogesh Dayal to the board of the private sector lender, interim CEO &MD Rajeev Ahuja on Sunday sought to downplay fears the bank might be in financial trouble. RBL Bank reported a loss of `459 crore in Q1 FY22 and the stock has lost 18.7% in the last six months. Ahuja asserted the fundamentals of RBL Bank are intact and that Saturday’s developments are not ‘on account of any concern on advances,...

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Biz fundamentals are intact, have RBI support: RBL Bank

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3EreW...

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Banking sector to see significant reforms in 2022; privatisation, IDBI Bank disinvestment on agenda

The banking sector is set to witness significant reforms in the coming year with privatisation of public sector banks and strategic disinvestment of IDBI Bank on the agenda of the government for 2022. All said, the emerging coronavirus situation, especially in the wake of the Omicron variant, might pose headwinds in the pace of reforms. Going by the numbers, the banking sector has done reasonably well in 2021, notwithstanding the impact of the second wave of the pandemic. Pursuant to the government’s 4Rs strategy of Recognition, Resolution, Recapitalisation and Reforms, Non-Performing Assets (NPAs) of the banking sector have declined to Rs 8,35,051 crore as on March 31, 2021. As per the Financial...

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Airtel Payments Bank surpasses 1 bn transactions mark in Q2

This represents about 61 per cent year-on-year growth in transaction volume per quarter, underlining the bank's digital-first model and distribution of over 5,00,000 banking points that give it the ability to scale up rapidly. from Banking/Finance-Industry-Economic Times https://ift.tt/3mtbb...

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Indipaisa partners with NSDL Payments Bank to launch a new Fintech platform targeting India’s flourishing 63 million SME sector

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

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Banking sector to see significant reforms in 2022; privatisation, IDBI Bank disinvestment on agenda

Pursuant to the government's 4Rs strategy of Recognition, Resolution, Recapitalisation and Reforms, Non-Performing Assets (NPAs) of the banking sector have declined to Rs 8,35,051 crore as on March 31, 2021. from Banking/Finance-Industry-Economic Times https://ift.tt/3psQK...

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Centre begins consultation on setting up national database on cooperatives

The Centre has started a consultation process with various stakeholders on building a national database on cooperatives which will help in convergence of various schemes implemented by states and the central government as well as in establishing good governance and market orientation. from Banking/Finance-Industry-Economic Times https://ift.tt/3ppPh...

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RBL Bank MD & CEO Vishwavir Anuja steps down

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/32yQh...

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RBI checks into RBL Bank board; CEO goes on leave

RBL Bank on Saturday saw a series of changes at the top management level starting with the RBI’s appointment of Yogesh K Dayal as an additional director. The bank’s board also accepted the request of the MD & CEO Vishwavir Ahuja to proceed on leave with immediate effect. Separately, the board approved the appointment of Rajeev Ahuja, executive director, as interim managing director & CEO with immediate effect. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://i...

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RBL Bank MD and CEO Vishwavir Ahuja steps down, Rajeev Ahuja takes over

The Board appointed Rajeev Ahuja (currently the Executive Director) as interim Managing Director & Chief Executive Officer of the Bank with immediate effect, subject to the regulatory and other approvals. from Banking/Finance-Industry-Economic Times https://ift.tt/3pqvx...

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