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The lender said it has waived fees on 25 commonly used banking services related to savings accounts such as cash deposit and withdrawal at branches, third party cash transactions, demand drafts, IMPS, NEFT, RTGS, cheque book, SMS alerts, interest certificates, insufficient balance for ATM transactions, international ATM usage and so on.
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The bank had earlier declared JC Flowers Asset Reconstruction Private Limited (JC Flowers ARC) as the winner of the Swiss Challenge process for sale of its identified portfolio of stressed assets.
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The minister said she had in the last 6-7 months held several meetings with representatives of the central bank, her ministry officials and Ministry of Corporate Affairs (MCA) on the issue of Chinese loan apps harassing and cheating people. "A lot of apps that have been badly misused have also been brought to the attention of MeiTY," she said. "So there is a coordinated effort to contain such apps. And also to take action against those who are misusing."
3:11 PM
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Caution has set in bond markets, with traders not willing to go heavy with the calendar year-end approaching, a trader with a private bank said, adding that auction cutoffs would be the key drivers for rest of the month.
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The rupee and most of its Asian peers struggled on concerns that hawkish central banks may fuel an economic slowdown.
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While growth will be broad-based across various sub-sectors, microfinance and personal loans will be leading the growth chart. On the other hand, vehicle financing loans (commercial vehicle finance, passenger vehicle finance), which has remained significantly subdued since FY20, are also expected to report higher growth numbers, following an improvement in the operating environment.
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CRED, in partnership with BBPS, has launched an assured rewards campaign from 12 to 16 December 2022. During this time, pay your bills on CRED and stand a chance to win upto INR 10,000 as cashback.
1:12 PM
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Indian government bond yields were higher on Thursday after Federal Reserve chair Jerome Powell said the central bank will deliver more rate hikes for a longer period to fight inflation.
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In a notice, the Department of Investment and Public Asset Management (DIPAM) said the last date for submission of EoI is January 7, 2023, instead of December 16, 2022.
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The bank said in a regulatory filing that it has executed agreements on December 13 to subscribe to 21,471 fully paid up Compulsory Convertible Preference Shares (CCPS) of face value of Rs. 20 each at a premium of Rs. 9,711 for an aggregate consideration of Rs. 9,731 per CCPS to be issued by Mintoak.
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BoB currently holds 98.57 per cent of the total equity share capital of NBL. Details about the process of transaction are given in the PIM, which will be published on Wednesday for inviting EOI from bidders, it said.
2:03 AM
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Pristine Malwa proposed a ₹521-crore resolution plan, which includes payment to lenders, employees, and cash in the company. The offer equates to 30% recovery for verified creditors.
12:09 AM
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Most public sector banks have set up businesses including in insurance, factoring and housing finance. The government has for some time been nudging them to exit such investments and unlock capital for funding their core business.
11:03 PM
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The maximum penalty of Rs 4 lakh has been imposed on Shri Kanyaka Nagari Sahakari Bank, Chandrapur, and Rs 2.50 lakh fine on The Vaidyanath Urban Co-operative Bank, Beed. A penalty of Rs 2 lakh each has been slapped on Wai Urban Co-operative Bank, Satara and Indore Premier Co-operative Bank, Indore.
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In a separate reply, Karad said recently, all ministries/departments of the Centre have been asked to take action in 'Mission Mode', to fill the existing vacancies.
6:02 PM
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The report pointed out that banks like IDFC First and Bandhan have strongly outpaced their larger peers in deposit growth year on year which has allowed them to improve their current and savings account (CASA) deposit ratio and competition for deposits could aggravate in case credit demand for long term capex picks up.
9:11 AM
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MSCI's broadest index of Asia-Pacific shares outside Japan slid 1%, after rising 1.3% the previous week, buoyed by optimism that China is finally opening up its economy with the dismantling of its zero-Covid policy.
9:03 AM
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The RBI is looking to extensively use advanced analytics, artificial intelligence and machine learning to analyse its huge database and improve regulatory supervision over banks and NBFCs. For this purpose, the central bank plans to hire external experts.
2:02 AM
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The national consumer court has ruled that banks are not required to inform each borrower individually about any automatic change in interest rates under the floating rate plan, as borrowers have already agreed to any such increase or decrease while executing loan agreements with lenders.
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While Reliance Industries, TCS, Infosys, Bharti Airtel and ICICI Bank were the laggards from the top-10 pack, Hindustan Unilever, HDFC Bank, Adani Enterprises, SBI and HDFC emerged as the gainers.
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