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Saturday, July 7, 2018

Corruption in Pakistan: Senior banker detained, and he is close aide of this ex-President

A senior Pakistani banker, who is a close aide of a former president, has been detained by the country's investigation agency in connection with a money laundering case.

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1992 securities scam: Senior bank officials among 5 sentenced

A special court here has convicted and awarded varying jail terms to five persons, including senior bank officials, in the 1992 securities scam.

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1992 securities scam: Senior bank officials among 5 sentenced

Justice Shalini Phansalkar Joshi, who presided over a bunch of cases related to the 1992 scam, convicted R Lakshminarayanan and S Srinivasan of Financial Fairgrowth Services Limited (FFSL), and Tharian Chacko, Y Sundara Babu and R Kalyana Raman of Andhra Bank Financial Services Ltd (ABFSL), a subsidiary of Andhra Bank.

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Bank of India fraud case: CBI arrests two retired BoI officials in Rs 2654 crore loan scam by Diamond Power

V V Agnihotri and PK Shrivastava retired GM and DGM respectively, had allegedly granted undue favours to the company in granting credit limits, the officials said.

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Mastercard seeks easier pay data storage norms

Mastercard is making a case for allowing payment companies to transfer system data outside India to enable international fraud prevention. The company is seeking a dilution of the Reserve Bank of India (RBI) guidelines on storage of payment system data, which comes into effect from October 15, 2018.

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Rs 1.3 lakh crore is what public sector bank may need for loan recast plan

This may be over and above the additional funds that banks would need to set aside for potential losses from loans that are classified as non-performing.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2IZYhp5
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State-run asset reconstruction companies may be roped in to clean up banks

Arcil, the first ARC set up in the country, was the third-largest player at the end of March with assets under management (AUM) of around Rs 12,000 crore.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2NyhnpI
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Government looking to place checks on companies raising FDs

The government is looking to place restrictions on companies raising fixed deposits from the public, which often offer two-three percentage points higher interest rate than banks, but are seen to be riskier.

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Retired managers of Bank of India held for Rs 2,600-crore fraud

The Central Bureau of Investigation on Friday arrested a retired general manager and a deputy general manager of Bank of India in its probe related to a Rs 2,654-crore bank fraud by Gujarat-based Diamond Power Infrastructure Ltd (DPIL).

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Friday, July 6, 2018

Import cover dips to 10.8 months

Our BureauIndia’s import cover decreased to 10.8 months as of December 2017-end from 11.3 months as of March 2017-end, according to the Reserve Bank

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ICAI develops software to allot CAs for bank audits

To ensure transparency in the allotment of chartered accountants (CAs) for bank audits, the Institute of Chartered Accountants of India (ICAI) has de

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Insurance payouts to travellers rise despite fall in train accidents

₹3.5 cr paid out to victims in FY18 against premium of ₹28 cr paid by IRCTC

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CBI arrests two retired BOI officers for Rs 2,654 cr loan fraud

V V Agnihotri and P K Shrivastava, retired GM and DGM respectively, had allegedly granted undue favours to the company in granting credit limits, the officials said.

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UBI expects Rs 3,000 cr recovery from NCLT resolutions

United Bank of India is expecting to recover around Rs 3,000 crore out of a total of Rs 5,951 crore, by way of resolutions through the National Company Law Tribunal (NCLT), the public sector lender's MD and CEO Pawan Bajaj said today.

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Rs 9,000 crore recovery from Vijay Mallya? 13 banks working closely with UK government, says SBI MD

Indian banks are working very closely with various agencies, including in the UK, to recover maximum out of assets owned by Vijay Mallya after a British court allowed them to search and seize properties of the fugitive liquor baron, SBI MD Arijit Basu said today.

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Moderate inflation impact seen on higher MSP

Rise in inflation may prompt the RBI to further tighten its monetary policy

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NHB index points to stable residential property prices

Time ripe to buy property as there is no ‘gloom and doom’ in the housing sector, says NHB chief

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CBI arrests two retired Bank of India officers for Rs 2,654 crore fraud

The agency in an FIR had said that the DPIL, which manufactures electric cables and equipment, is promoted by Suresh Narain Bhatnagar and his sons Amit and Sumit, who are also the directors of the firm.

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PNB’s Rs 136 crore NPA sale: India’s second largest PSU bank invites bids for 3 NPA accounts; check details

Punjab National Bank (PNB) has put on sale three non-performing assets to recover Rs 136 crore dues from the borrowers. The process of e-bidding for the sale of these accounts will happen on July 7, 2018, the bank said.

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This Swedish bank is on a hiring spree, but not for bankers

The bank is taking on people “mainly in new technology, computer scientists, new areas within customer journey design.

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UBI expects Rs 3,000 crore recovery from NCLT resolutions

Altogether 40 cases were referred to the NCLT of which Rs 580 crore had already been recovered by the bank, Bajaj told shareholders at the annual general meeting .

from Banking/Finance-Industry-The Economic Times https://ift.tt/2lUtPU2
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Banks working closely with UK agencies to recover dues from Mallya: SBI MD

"We are very happy with the court order and with this kind of order we have we should be able to go after Mallya's assets," SBI MD Arijit Basu said

from Banking/Finance-Industry-The Economic Times https://ift.tt/2NpJ83L
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United Bank hopes to turn around by fiscal-end

United Bank of India, which posted a net loss of Rs 1,454 crore in 2017-18, is expecting to turn profitable by the end of this fiscal. According to

from Business Line - Money & Banking https://ift.tt/2zhNzug
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PNB invites bids to sell 3 NPA accounts to recover over Rs 136 cr

The three bad loans are Gwalior Jhansi Expressways with an outstanding of Rs 55 cr; SVS Buildcon Pvt Ltd Rs 50 cr and Shiva Texfabs Ltd Rs 31.06 cr.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2lWeORB
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PNB invites bids to sell 3 NPA accounts to recover over Rs 136 cr

Punjab National Bank (PNB) has put on sale three non-performing assets to recover Rs 136 crore in dues from the borrowers. “We intend to place these

from Business Line - Money & Banking https://ift.tt/2Nu0egI
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SBI recovers Rs 963 cr from auctioning Mallya’s Indian assets

State Bank of India Managing Director Arijit Basu says that the lender has recovered Rs 963 crore from the auction of Vijay Mallya’s Indian assets.“Ve

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CV operators to feel strain of rising oil prices: Fitch

Rating agency warns auto loan defaults could go up

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PM Narendra Modi calls for strict action against corrupt bankers

VG Kannan, IBA’s CEO and a former State Bank of India official had told ET on June 21 that the association had already taken up the matter with the DoFS in Delhi and the Maharashtra government.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2MRtc97
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Project Sashakt: Banks give shape to inter-creditor pact for bad assets

Banks will now take inter-creditor agreement to their respective boards for approval and it’s expected to go live later this month, Punjab National Bank chairman Sunil Mehta said.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2tXx6X1
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Stressed power assets: Impractical to comply with RBI circular, say banks

Senior bankers on Thursday apprised the parliamentary committee on energy of the enormous impact and “practical difficulty” of implementing the Reserve Bank of India's circular regarding power assets within a six-month time frame.

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Banks’ deposit growth slows to 7.59%; credit growth flat at 12.84%

Deposits with the banking system grew at a slower rate of 7.59% y-o-y to Rs 113.54 lakh crore as on June 22 as against an 8.36% growth for the fortnight ended June 8

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Yes Bank gets SEBI nod to launch MF business

Yes Bank today said it has received approval from capital markets regulator SEBI to start mutual fund business. This approval is subsequent to the R

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Bank of China gets RBI licence to launch operations in India

The RBI has issued licence to Bank of China to launch operations in India, official sources said today.Prime Minister Narendra Modi had made a commit

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ICICI Bank plans expansion in micro-markets on periphery of major cities

Keen to establish presence in Ambala, Bikaner, Tuticorin

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Unsecured loans grow four times the bank credit: Crisil

'Outstanding unsecured loans should reach about Rs 9.5 lakh crore by fiscal 2021'

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AIBOA seeks President’s intervention in LIC-IDBI Bank deal

It says President must ensure policy holder’s premium is not utilised to provide capital to IDBI

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Govt keeps small savings interest rates unchanged

The government has kept the interest rates on small savings schemes, including NSC and PPF, unchanged for the July-September quarter. The move is ai

from Business Line - Money & Banking https://ift.tt/2KGoJcc
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Payments bank balance: Post Dept to work around RBI’s ₹1 lakh cap norm

The Department of Posts (DoP) wants to ensure that a customer’s cash balance that exceeds ₹1 lakh in its payments bank remains within the postal syste

from Business Line - Money & Banking https://ift.tt/2lTnEjg
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State police investigating a Central PSU threatens federal balance: Jaitley

Says overreach of Central, State investigation agencies has threatened bankers; anti-graft law affecting honest decision-making

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SDF aiming to become regional development bank

Wants to enhance credit portfolio to $300million in the next few years

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LIC will benefit from raising stake in IDBI Bank: Niti Aayog Vice-Chairman

Rajiv Kumar says rupee’s fall not a worrying factor as it is over-valued

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Fear psychosis returns to banks

  Hindsight, they say, is 20:20. We are all wiser after the event. Not before. The Central Bureau of Investigation (CBI) as well as other law enforcem

from Business Line - Money & Banking https://ift.tt/2IOmXAL
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Banks to cease cryptocurrency transactions from Friday – Here is why

Commercial banks in the country will no longer be able to transact in cryptocurrencies like Bitcoin from Friday in view of a Reserve Bank of India (RBI) directive in April.

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YES Bank gets nod for MF biz

YES Bank on Wednesday announced it has received final approval from SEBI to start its mutual fund business. It has already received clearance from the

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Cholamandalam to maintain strong growth in vehicle finance biz this year

Subsidiary seeks NHB nod to start housing finance company

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New RBI norms may see borrowers’ liquidity profile come under pressure

Especially those with high dependence on cash credit and OD facilities: ICRA

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Muthoot Finance aims to grow personal loan book to ₹300 cr

Kerala-based lender launches personal loan biz in TN; plans to expand to other States

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Nearly 2 lakh households covered under credit-linked subsidy scheme: NHB chief

To double the number of units covered for Economically Weaker Sections

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Deepak Parekh calls for easing of norms to fund land purchases

  The letter sent by HDFC Chairman Deepak Parekh to shareholders every year is read keenly for the insights and comments he makes on the current issue

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Banks finalise inter-creditor agreement to deal with NPAs

The meeting called by Indian Banks Association was also attended by Finance Minister Piyush Goyal, who had accepted the report of the Sunil Mehta Committee earlier this week.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2IYnz6P
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Thursday, July 5, 2018

Yes Bank gets SEBI nod to launch MF business

Yes Bank today said it has received approval from capital markets regulator SEBI to start mutual fund business. This approval is subsequent to the R

from Business Line - Money & Banking https://ift.tt/2tT1z8D
Read more »

Bank of China gets RBI licence to launch operations in India

The RBI has issued licence to Bank of China to launch operations in India, official sources said today.Prime Minister Narendra Modi had made a commit

from Business Line - Money & Banking https://ift.tt/2tRRmta
Read more »

ICICI Bank plans expansion in micro-markets on periphery of major cities

Keen to establish presence in Ambala, Bikaner, Tuticorin

from Business Line - Money & Banking https://ift.tt/2tTBnee
Read more »

Unsecured loans grow four times the bank credit: Crisil

'Outstanding unsecured loans should reach about Rs 9.5 lakh crore by fiscal 2021'

from Business Line - Money & Banking https://ift.tt/2KO8E0W
Read more »

AIBOA seeks President’s intervention in LIC-IDBI Bank deal

It says President must ensure policy holder’s premium is not utilised to provide capital to IDBI

from Business Line - Money & Banking https://ift.tt/2MS7JwO
Read more »

Govt keeps small savings interest rates unchanged

The government has kept the interest rates on small savings schemes, including NSC and PPF, unchanged for the July-September quarter. The move is ai

from Business Line - Money & Banking https://ift.tt/2KGoJcc
Read more »

Payments bank balance: Post Dept to work around RBI’s ₹1 lakh cap norm

The Department of Posts (DoP) wants to ensure that a customer’s cash balance that exceeds ₹1 lakh in its payments bank remains within the postal syste

from Business Line - Money & Banking https://ift.tt/2lTnEjg
Read more »

State police investigating a Central PSU threatens federal balance: Jaitley

Says overreach of Central, State investigation agencies has threatened bankers; anti-graft law affecting honest decision-making

from Business Line - Money & Banking https://ift.tt/2z3SKOA
Read more »

SDF aiming to become regional development bank

Wants to enhance credit portfolio to $300million in the next few years

from Business Line - Money & Banking https://ift.tt/2KsL0uO
Read more »

LIC will benefit from raising stake in IDBI Bank: Niti Aayog Vice-Chairman

Rajiv Kumar says rupee’s fall not a worrying factor as it is over-valued

from Business Line - Money & Banking https://ift.tt/2IQRFcj
Read more »

Fear psychosis returns to banks

  Hindsight, they say, is 20:20. We are all wiser after the event. Not before. The Central Bureau of Investigation (CBI) as well as other law enforcem

from Business Line - Money & Banking https://ift.tt/2IOmXAL
Read more »

RBI regulations on auditors put banks in a spot

The central bank on June 29 came out with a framework for statutory auditors and what actions could be taken against the audit firms in case of a lapse.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2lYjero
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Vijay Mallya’s wings clipped: UK Court allows seizure of UK assets in a big win for Indian banks

Vijay Mallya case: In a big setback for former liquor-baron Vijay Mallya, a UK High Court judge has issued an enforcement order granting permission to seize his properties in Hertfordshire, near London.

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Mastercard eyes IoT devices to enable digital payments

Financial services firm to continue to invest in India

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Banks agree not to undercut each other on loans

Goyal meets heads of private, public lenders to arrive at a model for ‘inter-creditor’ pact

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Estimate Committee to quiz RBI Governor, others

A Parliamentary Committee has summoned RBI Governor Urjit Patel and key Finance Ministry officials along with heads of five public sector banks and o

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‘We plan to further increase provision coverage ratio’

State Bank of India Chairman Rajnish Kumar is confident that the bank will come out of the bad loan problem with a stronger balance sheet in a year’s

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Wellness audits, indexes help insurers get a grip on rising claims

Our BureauRising medical expense claims, and employee absenteeism/attrition due to health reasons (physical/mental/social), are the two problems that

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Bank credit grows at 12.84%, deposits at 7.59%

Bank credit grew by 12.84 per cent to ₹ 86,16,408 crore in the fortnight ended June 22, according to RBI data. In the year-ago fortnight, bank loans

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Bank credit grows at 12.84%, deposits at 7.59%

The growth in advances was slightly higher than the growth registered in the previous fortnight ended Jun 8. It had risen by 12.67 per cent to Rs 85,98,703 crore.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2tZPoqE
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Homebuyers, here’s how you can use IBC to recover money from failed housing projects – step-by-step guide

Homebuyers are now at par with banks and institutional creditors in priority for recovering of dues from bankrupt or insolvent realty firms.

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Bank of Baroda raises MCLR by 0.05% for various tenors

State-run Bank of Baroda has increased its marginal cost-based lending rates (MCLR) by 0.05 per cent for various tenors of loans with effect from Sa

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Indian Bank revises FCNR (banking) term deposit rates

Public sector Indian Bank today revised the interest rates on Foreign Currency Non-Resident (banking) term deposits with immediate effect. The city-

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From today, bitcoin will not add even a rupee to your bank balance



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MD & CEO appointments: Bank officers’ federation feels nationalised banks given a raw deal

The All-India Nationalised Banks’ Officers’ Federation (AINBOF) has opined that officials of public sector banks (other than State Bank of India) hav

from Business Line - Money & Banking https://ift.tt/2zaUqWl
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YES Bank gets nod for MF biz

YES Bank on Wednesday announced it has received final approval from SEBI to start its mutual fund business. It has already received clearance from the

from Business Line - Money & Banking https://ift.tt/2tZl26W
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With UPI, India has done something unique, says Citi's Manish Kohli

We look to continuously evolve our products and have been partnering with fintechs, recognising that they bring nimbleness, agility and access to new technologies, says Citi's global head of payments business Manish Kohli.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2Kwi2Kq
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NiMo fraud effect: PNB revamps lending ops

Hit by the Nirav Modi-Mehul Choksi fraud, Punjab National Bank (PNB) has decided to restructure its lending operations and has designated 60 systemically important branches to undertake lending of over Rs 50 crore.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2z7nPke
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Transaction cap may be doubled to Rs 2 lakh in UPI 2.0

UPI 2.0 will be a major upgrade, especially the doubling of the payment limit to Rs 2 lakh will bring in a host of new use cases, one banker said.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2lVkI5H
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25 countries in global banks’ ‘high risk’ list

Sebi-registered foreign portfolio funds invest in India through 56 countries. Of these, 25 are now considered ‘high risk’.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2KMQT1I
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Wednesday, July 4, 2018

FM to meet heads of banks to discuss NPA resolution structure



from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2IS3cbw
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Will the NPA black hole suck in the country’s entire banking universe?

With barely nine months to go before the Lok Sabha election, how serious is the crisis in our banking system? Put simply, it is not going to be resolved any time soon.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2KHVjKG
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Vijaya Bank hikes lending rates by up to 50 bps

Vijaya Bank today raised the marginal cost of funds-based lending rate.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2lQVntA
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CSCs to be engaged as Banking Correspondents under pact with HDFC Bank

Village-level entrepreneurs who run common services centres (CSC) in the country will operate as banking correspondents of HDFC Bank, with the two sides today signing an agreement to this effect.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2zb2pCW
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Finance Minister Piyush Goyal to meet heads of banks tomorrow to discuss NPA resolution structure

The meeting is likely to formalise the inter-creditor agreement structure as suggested in the five-pronged 'Project Sashakat',

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KFoYUV
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Yes Bank to foray into mutual fund business, gets Sebi nod

Yes Bank today said it has received approval from capital markets regulator Sebi to start mutual fund business.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MMGqUM
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IBBI amends norms, notifies procedures for home buyers under insolvency proceedings

The IBBI has notified revised norms for insolvency resolution process paving the way for home buyers to seek relief as financial creditors, putting in place clear timelines to be followed by resolution professionals and permitting withdrawal of insolvency applications subject to certain conditions.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KMz03n
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SBI Card launches artificial intelligence powered virtual assistant electronic live assistant

Customers can communicate with ELA in conversational language, enabling easy interface along with prompt query resolution, SBI Card managing director Hardayal Prasad said.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2z7odPC
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PNB to concentrate processing of big loans to 60 designated branches

The lender suffered huge losses on account of over USD 2 billion fraud perpetrated by diamond jeweller Nirav Modi in connivance with a few bank officials.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2KtgAbA
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Ensure equitable credit to minorities in 121 districts, RBI tells banks

The Reserve Bank (RBI) today directed banks to ensure that minorities in 121 identified districts receive a fair and equitable portion of credit within the overall target of the priority sector lending.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2NqNuYk
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PM Modi keeps his promise to China: RBI issues license to this 106 year old Chinese bank

After opening its first branch in South Asia in Pakistan last year, the 106-year-old Bank of China (BoC) is all set to roll out its India operations.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KJQvRz
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Succession in HDFC and its group companies is a key agenda before board, says Deepak Parekh

Parekh, however, made it clear that at HDFC Ltd, the board and its present VC and CEO have agreed that he will continue in this role for a period of 3 years.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2lRIvTO
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Cholamandalam to maintain strong growth in vehicle finance biz this year

Subsidiary seeks NHB nod to start housing finance company

from Business Line - Money & Banking https://ift.tt/2tVrRXP
Read more »

New RBI norms may see borrowers’ liquidity profile come under pressure

Especially those with high dependence on cash credit and OD facilities: ICRA

from Business Line - Money & Banking https://ift.tt/2tS4VsM
Read more »

Muthoot Finance aims to grow personal loan book to ₹300 cr

Kerala-based lender launches personal loan biz in TN; plans to expand to other States

from Business Line - Money & Banking https://ift.tt/2zh6sxI
Read more »

Nearly 2 lakh households covered under credit-linked subsidy scheme: NHB chief

To double the number of units covered for Economically Weaker Sections

from Business Line - Money & Banking https://ift.tt/2NtupF0
Read more »

Deepak Parekh calls for easing of norms to fund land purchases

Our BureauThe letter sent by HDFC Chairman Deepak Parekh to shareholders every year is read keenly for the insights and comments he makes on the curr

from Business Line - Money & Banking https://ift.tt/2zaFGa3
Read more »

HDFC Bank to turn 3 lakh CSCs into its banking correspondents

Under the partnership, the village level entreprenuers (VLE) of the CSC will work as Banking Correspondent of HDFC Bank.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2NrrxIz
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Yes Bank gets SEBI nod to launch MF business

Yes Bank today said it has received approval from capital markets regulator SEBI to start mutual fund business. This approval is subsequent to the R

from Business Line - Money & Banking https://ift.tt/2tT1z8D
Read more »

RBI grants licence to Bank of China to set up branch in India

India and China have been focusing on expanding their economic ties notwithstanding differences on several sticky issues including on the boundary dispute.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2KEhLV9
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Recapitalisation scheme for Regional Rural Banks extended

The identification of RRBs which require recapitalisation will be decided in consultation with the National Bank For Agriculture And Rural Development.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2u0jPgH
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RBI grants licence to Bank of China to set up branch in India

Prime Minister Narendra Modi had made a commitment to Chinese President Xi Jinping to allow Bank of China to set up branches in India when they met on the sidelines of the SCO summit in Chinese city of Qingdao last month.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2KOPFmG
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Questioning doesn't mean we are prosecuting all bankers: CVC

The Indian banking industry for the first time in decades is seeing some of its top executives being charged with corruption and mala fide intentions in granting loans.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2z8EvI5
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Bank of China gets RBI licence to launch operations in India

The RBI has issued licence to Bank of China to launch operations in India, official sources said today.Prime Minister Narendra Modi had made a commit

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Targeting Rs 2 lakh crore mortgage business by March 2020: ICICI Bank

Executive director Anup Bagchi said that it has digitised a large part of the mortgage loan eco-system to push seamless growth.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2tSqzNo
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Cabinet approves extension of RRBs' recapitalisation scheme

The scheme started in 2010-11 and was extended twice in 2012-13 and 2015-16. The last extension was up to March, 2017.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2Kuov8B
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Unsecured bank loans rise four-times in FY15-18: Report

Unsecured loans are the loans where individual exposures are smaller and more distributed and given without any collaterals but banks get higher margins.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2KMmuAM
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Muthoot Finance is set to disburse Rs 300 cr personal loans in financial year 2018-19

We have seen potential and have already started offering it in Kerala and Karnataka," Muthoot Finance, Executive Director, George M Alexander said.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2lTOzeP
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ICICI Bank plans expansion in micro-markets on periphery of major cities

Keen to establish presence in Ambala, Bikaner, Tuticorin

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Unsecured loans grow four times the bank credit: Crisil

Banks’ unsecured loans – where money is lent without the backing of any collateral – clocked a CAGR (compound annual growth rate) of 27 per cent, or

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Prem Watsa open to investing in PSU banks

Watsa said that governance and management more than shareholding were key issues holding up efficient management of public sector banks.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2u0SSsn
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Indian regulatory leash tighter than developed markets': Bankers

Bankers also stressed the fact that the provisioning war chest created by Indian banks was also downplayed.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2z8vwGL
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Follow lending norms or NPA woes will mount: Goyal

There will be business failures but there have also been situations where loans have been diverted.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2u0N9mn
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Not every NPA is an act of criminality, mistakes will happen during decision making: Rajnish Kumar

The Indian Banks’ Association has condemned the spate of charge-sheets and arrests and called for an independent panel to scrutinise such allegations.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2u4XeOW
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Govt open to talks on RBI powers over PSBs

In an act of reconciliation with the Reserve Bank of India (RBI), officiating finance minister Piyush Goyal has indicated that the government was open to addressing the RBI’s grouse of not having powers to regulate public sector banks.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2IRHPXB
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Banks may seek NPA deadline extension

Banks may seek an extension of the 180-day deadline to resolve stressed assets as the proposed structure to set up asset management companies (AMCs) and stressed asset funds may not be in place by the time rules stipulated in RBI’s February 12 circular kick in.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2tR1jXO
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Expanding non-bank financial companies lift job market

A new breed of financiers, mostly financial technology companies that have obtained licences from the central bank to operate as non-banking finance companies (NBFCs), is turbo charging the job market.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2KPhbjS
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We have no limits… other than doing well for our investors: Prem Watsa, Fairfax Financial Holdings

" I hope the people of India give Modi a majority government in 2019 and one more term later."

from Banking/Finance-Industry-The Economic Times https://ift.tt/2KJ6EXr
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21 PSBs cloning each other not the way to do business: Rajnish Kumar, Chairman, SBI

A good asset management company, an investment fund, whoever is willing to invest and ARC — the combination of the three on the buyers’ side has to happen so that the asset gets consolidated.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2lQeB2l
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Conflict of interest in resolution plans may erode IBC credibility

Conflict of interest occurs when an entity is in a position to exploit its official or personal capacity in some way for personal or corporate benefit.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2zbkwbW
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IDBI Bank’s B Sriram likely to get 5-year term post LIC deal

“The board will be reconvened, and it is up to LIC to induct new board members if it so decides, but Sriram will continue to be at helm,” an official with knowledge of internal discussions said.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2KwR2dG
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Explained: Why LIC’s stake buy in IDBI Bank may not need Parliament nod

The proposed 51 per cent stake purchase by insurance major Life Insurance Corporation in IDBI Bank may not require Parliament's approval as it does not require any changes in the LIC Act, sources said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2u3yfLW
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No plans to close operations at Brady House branch in Mumbai, says fraud-hit PNB on Rs 14k-cr Nirav Modi scam

Fraud-hit Punjab National Bank (PNB) today said it has no plans to close operations at its Brady House branch, the fountainhead of the Rs 14,000 crore Nirav Modi scam.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KCU2Vj
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Govt keeps small savings interest rates unchanged

The government has kept the interest rates on small savings schemes, including NSC and PPF, unchanged for the July-September quarter. The move is ai

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Tuesday, July 3, 2018

Public sector banks draw up bad loan resolution plan

State-run banks are expected to take the lead in setting up the AMC for the resolution of loans above Rs 500 crore under the five-pronged plan presented by the committee.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2zdTiBc
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Federal Bank looks to acquire Madura Microfinance

The deal is expected to be partly in share-swap, and partly in cash for the micro lender backed by private equity firm Elevar Equity Mauritius.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2KsgWPQ
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PCI appoints new chairman Vishwas Patel & co-chairman Loney Antony

Vishwas has been associated with PCI ever since its inception in 2013 and was serving as its Co-Chairman of Payments Council of India.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2KDMykH
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More powers for RBI: Piyush Goyal says government open to Urjit Patel pliant

The governor had also spoken critically of the ownership structure of PSBs saying regulatory powers are not ownership neutral.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2KIIlcg
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LIC's stake buy in IDBI Bank may not need Parliament nod

Since it is going to be a financial deal as per the LIC Act, the legislation would not require amendment, sources said.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2u2KEzE
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Payments bank balance: Post Dept to work around RBI’s ₹1 lakh cap norm

K Ram KumarThe Department of Posts (DoP) wants to ensure that a customer’s cash balance that exceeds ₹1 lakh in its payments bank remains within the

from Business Line - Money & Banking https://ift.tt/2lTnEjg
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State police investigating a Central PSU threatens federal balance: Jaitley

Says overreach of Central, State investigation agencies has threatened bankers; anti-graft law affecting honest decision-making

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SDF aiming to become regional development bank

Wants to enhance credit portfolio to $300million in the next few years

from Business Line - Money & Banking https://ift.tt/2KsL0uO
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LIC will benefit from raising stake in IDBI Bank: Niti Aayog Vice-Chairman

Rajiv Kumar says rupee’s fall not a worrying factor as it is over-valued

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Fear psychosis returns to banks

NS VageeshHindsight, they say, is 20:20. We are all wiser after the event. Not before. The Central Bureau of Investigation (CBI) as well as other law

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No plans to close operations at Brady House branch in Mumbai: PNB

Nirav Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB of about Rs 14,000 crore through issuance of fraudulent Letters of Undertaking (LoUs).

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2z66o3z
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