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Saturday, October 12, 2019

The biggest lessons for India from the PMC Bank fiasco

Every time a crisis such as PMC surfaces, there’s some sympathy over the plight of depositors, and debates around the need to regulate cooperative banks better.

from Banking/Finance-Industry-Economic Times https://ift.tt/2MFxamO
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Bank fraud: ED attaches assets of over Rs 4,000 crore of Bhushan Steel

The central probe agency said it has attached land, building, plant and machinery of the firm located in Odisha under the provision of the Prevention of Money Laundering Act (PMLA). .

from Banking/Finance-Industry-Economic Times https://ift.tt/2nJjyyG
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ED attaches over Rs 4,000 cr assets of Bhushan Steel

The Enforcement Directorate (ED) on Saturday said it has attached assets worth over Rs 4,025 crore of Bhushan Power and Steel Limited (BPSL) in connection with its money laundering probe linked to an alleged bank loan fraud.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/32bRpPx
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Spoken to RBI governor, concerns of PMC bank’s customers will be addressed: FM Nirmala Sitharaman

The bank was put under "directions" by the Reserve Bank of India (RBI) last month due to weak financial health, wherein the central bank has capped the deposit withdrawals at Rs 25,000.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IMP4Dg
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Spoken to RBI governor, concerns of PMC bank’s customers will be addressed: FM Nirmala Sitharaman

The bank was put under "directions" by the Reserve Bank of India (RBI) last month due to weak financial health, wherein the central bank has capped the deposit withdrawals at Rs 25,000.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IMP4Dg
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Spoken to RBI guv, concerns of PMC bank's customers will be addressed: FM

The bank was put under "directions" by RBI last month due to weak financial health, wherein the central bank has capped the deposit withdrawals at Rs 25,000.

from Banking/Finance-Industry-Economic Times https://ift.tt/2MtapSY
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Spoken to RBI governor, concerns of PMC Bank's customers will be addressed: Sitharaman

Assuring account holders of troubled Punjab and Maharashtra Co-operative (PMC) Bank of support, finance minister Nirmala Sitharaman on Saturday said that she has spoken to the Reserve Bank of India (RBI) governor, who assured that customers' concerns will be taken on top priority.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2nDwGFm
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Life Insurance companies join hands to launch MF-like awareness campaign

‘Sabse Pehle Life Insurance’ will be the tagline for the proposed campaign

from Business Line - Money & Banking https://ift.tt/35rXv0r
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Mehul Choksi cheated Punjab & Sind Bank of Rs 441 million

This is the first time the 111-year-old bank has come clean on the default perpetrated by Choksi, who has now settled as a citizen of Antigua & Barbados, the West Indies.

from Banking/Finance-Industry-Economic Times https://ift.tt/2VyF3ib
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15 out of 23 industry groups in manufacturing contracted in August

The industrial output data for August, which showed 1.1% contraction, adds to the string of other numbers, such as slumping vehicle sales, which are testimony to the slowdown that has gripped Asia’s third-largest economy, leading to a rash of growth downgrades by several economists, rating agencies and the central bank.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/33o7S3u
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First time in FY20, credit expands in single digit

Reflecting the deepening economic crisis arising from both structural and cyclical issues and a massive fall in consumption demand, bank credit growth rate, for the first time this fiscal, slowed to single digit at 8.8 per cent to Rs 97.71 lakh crore during the fortnight to September 27, according the Reserve Bank of India (RBI) data.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2VCtxSF
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Bank of Baroda MF arm to merge with BNP Paribas AMC

Stock of Bank of Baroda on Friday ended at Rs 90.80 up 3.42%, on the BSE.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IJlFK6
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PMC: ED traces Wadhawans’ land worth Rs 3,500 cr

ED has traced around 2,100 acres of land controlled by HDIL and its promoter Rakesh Wadhawan and his son Sarang aka Sunny. These land parcels are located in seven different villages in the Vasai-Palghar belt. The land, believed to be worth about Rs 3,500 crore, will be attached by the ED. The Wadhawans along with their company obtained loans from the Punjab and Maharashtra Cooperative Bank fraudulently.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2OCd0Nj
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PMC Bank scam: ED traces Wadhawans’ 2,100 acres of land worth Rs 3,500 crore

ED officials are examining the documents to ascertain if these lands were purchased on individual name of Wadhawans or in the name of HDIL.

from Banking/Finance-Industry-Economic Times https://ift.tt/2nDt4Dk
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Friday, October 11, 2019

RBI introduces new reporting system for co-operative banks

The Reserve Bank of India has introduced a new reporting system – the Central Information System for Banking Infrastructure (CISBI) – for all co-opera

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BoB, BNP Paribas arms to merge mutual fund biz

Post deal BoB will hold 50.1%

from Business Line - Money & Banking https://ift.tt/2M6Jm0T
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Edelweiss moves court against DHFL

Edelweiss Asset Management has approached the Bombay High Court for recovery of principal and interest dues from financially troubled Dewan Housing Fi

from Business Line - Money & Banking https://ift.tt/2pccw5X
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'Non-US banks have $1.4 tn at risk in case of shock'

Should a new crisis erupt on world markets, non-US banks will struggle to cover their debts, which have increased since the global financial crisis, the International Monetary Fund (IMF) warned on Friday.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3171snR
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Credit growth slows to 8.74% in HI

But deposits have been relatively robust year-on-year at 9.53% up to September 27

from Business Line - Money & Banking https://ift.tt/2MvVnfr
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Valuation professionals should not resist change: IBBI chief

No free walk-in for non-registered valuation professionals in proposed institutional framework, says Sahoo

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Forex reserves at new life-time high of $437.83 bn

The country's foreign exchange reserves surged by $4.24 billion to touch a record high of $437.83 billion in the week to October 4, according to the latest data from the Reserve Bank of India (RBI). In the previous week, the reserves had surged by massive $5.02 billion to $433.59 billion.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/328E5f1
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RBI Central Board discusses regulatory framework of co-op banks amid PMC Bank scam

The meeting of the central board, held in Chandigarh, came a day after Finance Minister Nirmala Sitharaman announced setting up of a panel to recommend legislative changes to ensure better governance at cooperative banks.

from Banking/Finance-Industry-Economic Times https://ift.tt/2MvBwgp
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India's microfinance sector remained strong despite slowdown: ICICI Securities

Captains at MFI firms believe that said that the slowdown is not felt in their sector as they finance making of goods for conspicuous consumption.

from Banking/Finance-Industry-Economic Times https://ift.tt/2B1SU75
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Allahabad Bank cuts MCLR by 5 bps across tenors

The benchmark one-year MCLR, against which most of the consumer loans are priced, will now stand at 8.35 per cent from the earlier rate of 8.40 per cent.

from Banking/Finance-Industry-Economic Times https://ift.tt/3155ltA
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Muthoot Finance stir called off

The 51-day old strike at Muthoot Finance ended with the company management and the Muthoot Banking and Private Finance Employees Association reaching

from Business Line - Money & Banking https://ift.tt/317QSwX
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Government e-Marketplace signs pact with Union Bank of India to avail various services

Government e-Marketplace (GeM) on Friday said it has signed a pact with Union Bank of India (UBI) under which the bank will offer several services to

from Business Line - Money & Banking https://ift.tt/2M7B7Sk
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Lendingkart appoints Mithun Sundar as the CEO for its NBFC arm, Lendingkart Finance Limited

To strengthen its top deck with 7-8 more hires in the next two years, to support growth

from Business Line - Money & Banking https://ift.tt/2OGPzlV
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GeM signs pact with Union Bank of India to avail various services

The memorandum of understanding (MoU) will facilitate a cashless, paperless and transparent payment system on the portal and will create an efficient procurement system for government entities

from Banking/Finance-Industry-Economic Times https://ift.tt/3258IBS
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Heads of 3 amalgamating banks meet customers, staff

Union Bank of India, Corporation Bank, Andhra Bank chiefs reaffirms that the amalgamation would be relatively smooth and explained the synergies arising out of it.

from Business Line - Money & Banking https://ift.tt/327BRMW
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Deepak Parekh on PMC Bank crisis: No system in place to safeguard common man’s savings

Amid the ongoing PMC Bank crisis, HDFC Chairman Deepak Parekh said that there is no system in place to safeguard the hard-earned savings of an honest common man.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2M9lqu1
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Ashok Kapur family backs Yes Bank management; ready to dilute stake

The present management is led by chief executive Ravneet Gill who took charge in March after Kapoor was asked to leave by January 31 by the monetary authority in August 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/33j99Zy
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Ashok Kapur family backs Yes Bank management

Extending full support to the new management, Yes Bank's single-largest shareholder and co-promoter, the late Ashok Kapur's daughter Shagun Gogia on Thursday said the issues of governance and transparency are fully dealt with now.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2q4sHCH
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PMC scam: Probe agencies may summon ex-directors

Investigations have revealed that the board of directors was aware of the loans sanctioned to the promoters of Housing Development and Infrastructure (HDIL), he said, speaking on the condition of anonymity.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Vwgt1n
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HDFC chairman says system has no measure to protect common man’s savings: Deepak Parekh

Parekh said the country needs two things from the world—capital and oil.

from Banking/Finance-Industry-Economic Times https://ift.tt/2VvQKWK
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How Amazon and Walmart can rescue Indian banks

A common refrain you hear in India is that there is no credit in the market. The despondence cuts across industries as diverse as real estate, autos a

from Business Line - Money & Banking https://ift.tt/2Mzhrpg
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Supreme Court bars I-T deptartment from reassessing NuPower accounts

The income tax department sought to reopen the accounts of NuPower last year to examine the genuineness of investments of about Rs 50 crore by Firstland Holdings in 2011.

from Banking/Finance-Industry-Economic Times https://ift.tt/35mA1cY
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Credit Saison India gets NBFC licence from RBI

The company, which operates in the country under its registered name of Kisetsu Saison Finance India, has also received $30 million from the Tokyo Stock Exchange-listed parent entity.

from Banking/Finance-Industry-Economic Times https://ift.tt/2VxEwgd
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Thursday, October 10, 2019

Edelweiss Financial Services arm moves court to recover dues from DHFL

The company has approached the court through its asset management subsidiary.

from Banking/Finance-Industry-Economic Times https://ift.tt/325jEj8
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RBI gives nod for Kerala Bank

With its formation, the proposed "Kerala Bank" will be largest banking network in the state.

from Banking/Finance-Industry-Economic Times https://ift.tt/323UJwj
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RBI's quashing of Lakshmi Vilas Bank merger fans contagion risks

The central bank’s “no” to Indiabulls will undoubtedly worsen the climate of fear in India’s financial industry.

from Banking/Finance-Industry-Economic Times https://ift.tt/2B0Nh96
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RBI rejects merger of Indiabulls, Lakshmi Vilas Bank

Mortgage lender Indiabulls Housing Finance's plans to turn into a bank by merging with Chennai-based Lakshmi Vilas Bank received a setback on Wednesday, with the banking regulator rejecting the proposal.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2B0Rb1L
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Credit to most sectors witnesses a decline

Credit has declined to most sectors between April and August 2019 with exceptions like the retail sector, reports CARE. Surprisingly, however, credit growth to the NBFCs and real estate has been positive.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/320tBOA
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Falling FD rates set to hit 4cr sr citizens hard

On Wednesday, along with a cut in lending rates, banking major SBI also cut the FD rates for senior citizens for 1-2 years bracket to 6.9% from 7% while savings bank rate was cut to 3.25% from 3.5% for deposits of up to Rs 1 lakh. Other banks are expected to follow. Financial planners say senior citizens will have to take some risks and invest in debt funds.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2pcgF9J
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What the merger with Indiabulls Housing Finance would have meant for Lakshmi Vilas Bank

Lakshmi Vilas Bank, which is under the prompt corrective action (PCA) norms of the Reserve Bank of India, would have received a boost if the proposed

from Business Line - Money & Banking https://ift.tt/2pT7AD8
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Credit to most sectors witnesses a decline

Credit has declined to most sectors between April and August 2019 with exceptions like the retail sector, reports CARE. Surprisingly, however, credit growth to the NBFCs and real estate has been positive.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/320tBOA
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View: Amazon, Walmart will help save India’s banks

One credit tap is starting to gurgle, giving some cause for optimism. Pocket-sized loans are feeding online consumption.

from Banking/Finance-Industry-Economic Times https://ift.tt/2AZqzyc
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Credit to most sectors witnesses a decline

Credit has declined to most sectors between April and August 2019 with exceptions like the retail sector, reports CARE. Surprisingly, however, credit growth to the NBFCs and real estate has been positive.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/320tBOA
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RBI turns down Indiabulls Housing’s merger with Lakshmi Vilas Bank

Gagan Banga, Indiabulls Housing Finance (IHF) vice chairman, said it appears that the RBI saw the move as a backdoor entry into banking.

from Banking/Finance-Industry-Economic Times https://ift.tt/2VxMWUT
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Corporate tax cut: Co-operative sector peeved with lack of parity with India Inc

Chief of co-op societies’ body writes to Finance Minister urging level playing field

from Business Line - Money & Banking https://ift.tt/2ICnEQ6
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Banks start linking loans to customers’ risk profile

Under the new external benchmarking regime, Bank of Baroda, for instance, will be using three credit score slabs from the Credit Information Bureau (India) Ltd (Cibil) to price new home loans.

from Banking/Finance-Industry-Economic Times https://ift.tt/33mNWOx
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Credit to most sectors witnesses a decline

Credit has declined to most sectors between April and August 2019 with exceptions like the retail sector, reports CARE. Surprisingly, however, credit growth to the NBFCs and real estate has been positive.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/320tBOA
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Liquidity infusion: SBI cuts MCLR by 10 bps; deposit rates revised down

The one-year MCLR has been reduced to 8.05% from 8.15% with effect from October 10, which is lower than the one-year MCLR for the second-largest public sector bank in the country — Bank of Baroda — which stands at 8.35%.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2B3477f
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RBI says no to Indiabulls Housing Finance merger with Lakshmi Vilas Bank

The regulator's decision also comes against the backdrop of both the entities being entangled in legal woes.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Oy5J12
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Iffco-Tokio moves IRDA in J&K Bank case

In a letter last month, Iffco-Tokio has written to the Insurance Regulatory and Development Authority (Irda) seeking to “dispel any misinformation.”

from Banking/Finance-Industry-Economic Times https://ift.tt/2nBIFmY
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HDIL promoters diverted Rs 90 crore PMC Bank loan

Mumbai Police says HDIL settled outstanding dues with Bank of India.

from Banking/Finance-Industry-Economic Times https://ift.tt/2AUC3mC
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NHB exposure in Dewan Housing Finance at Rs 24.35 billion

The bank's asset quality was significantly robust despite the concentration of HFCs and commercial banks in its loan portfolio, it said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/322aXpJ
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Liquidity infusion: SBI cuts MCLR by 10 bps; deposit rates revised down

The one-year MCLR has been reduced to 8.05% from 8.15% with effect from October 10, which is lower than the one-year MCLR for the second-largest public sector bank in the country — Bank of Baroda — which stands at 8.35%.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2B3477f
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RBI says no to Indiabulls Housing Finance merger with Lakshmi Vilas Bank

The regulator's decision also comes against the backdrop of both the entities being entangled in legal woes.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Oy5J12
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NHB exposure in Dewan Housing Finance at Rs 24.35 billion

The bank's asset quality was significantly robust despite the concentration of HFCs and commercial banks in its loan portfolio, it said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/322aXpJ
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NHB exposure in Dewan Housing Finance at Rs 24.35 billion

The bank's asset quality was significantly robust despite the concentration of HFCs and commercial banks in its loan portfolio, it said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/322aXpJ
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Wednesday, October 9, 2019

PMC Bank Crisis: Why credit culture needs to change

The complicity of bank officials with the Wadhavan family and its companies shows that there is a systemic flaw in the credit system.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AXaM30
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PMC Bank Crisis: Why credit culture needs to change

The complicity of bank officials with the Wadhavan family and its companies shows that there is a systemic flaw in the credit system.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AXaM30
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PMC Bank accused's custody extended, depositors agitated

Depositors of Punjab and Maharashtra Cooperative (PMC) Bank protested outside a court on Wednesday, demanding stringent action against the culprits.

from Banking/Finance-Industry-Economic Times https://ift.tt/2p5xuDk
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PMC Bank Crisis: Why credit culture needs to change

The complicity of bank officials with the Wadhavan family and its companies shows that there is a systemic flaw in the credit system.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AXaM30
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Banks likely to report muted profits in Q2, but bad loans to come down

Earnings to be hit on recent tax changes, poor loan growth, and credit costs

from Business Line - Money & Banking https://ift.tt/2M2giHX
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PNB asset liability committee may meet on Oct 19 to take a call on rate reduction: CEO

KR SrivatsPunjab National Bank’s (PNB) asset liability committee (ALCO) is likely to meet on October 19 to take a call on the reduction in lending rat

from Business Line - Money & Banking https://ift.tt/2ou3XTP
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PMC Bank Crisis: Why credit culture needs to change

The complicity of bank officials with the Wadhavan family and its companies shows that there is a systemic flaw in the credit system.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AXaM30
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PMC Bank Crisis: Why credit culture needs to change

The complicity of bank officials with the Wadhavan family and its companies shows that there is a systemic flaw in the credit system.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AXaM30
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RBI says no to Maha Bank proposal on setting off Rs 7,360 cr losses

Bank of Maharashtra shares closed 2 per cent down at Rs 10.80 on BSE. KPM MR.

from Banking/Finance-Industry-Economic Times https://ift.tt/311O9ou
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PMC Bank Crisis: Why credit culture needs to change

The complicity of bank officials with the Wadhavan family and its companies shows that there is a systemic flaw in the credit system.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AXaM30
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PMC Bank scam: Custody of Wadhawans, Waryam Singh extended

A court here on Wednesday extended till October 14 the police custody of a former chairman of the Punjab and Maharashtra Cooperative (PMC) Bank and two directors of HDIL, arrested in connection with the alleged Rs 4,355 crore scam at the bank.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2MunvzB
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PMC Bank Crisis: Why credit culture needs to change

The complicity of bank officials with the Wadhavan family and its companies shows that there is a systemic flaw in the credit system.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AXaM30
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SBI lowers rates on non-repo-linked loans by 10 bps

This is the sixth time that the country's largest lender has cut its MCLR or minimum lending rate in the current financial year.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2p3KCZP
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Shubh Loans gets RBI’s NBFC licence

Fintech start-up Shubh Loans, on Tuesday, said it has received a licence from the Reserve Bank of India to set up a non-banking financial company. Sh

from Business Line - Money & Banking https://ift.tt/30Y6PFT
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Why SBI cutting rate on savings deposit is bad news

Other banks could also follow suit and cut their savings deposit rate. Depositors may be stuck with lower rates for long

from Business Line - Money & Banking https://ift.tt/310ocpB
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LIC boss reveals Rs 23,000-crore reason why he's not worried about equity investments

Last year, LIC made Rs 23,000-cr profit from equity and have crossed Rs 11,500-cr profit on equity this year.

from Banking/Finance-Industry-Economic Times https://ift.tt/2ot9slH
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SBI lowers rates on non-repo-linked loans by 10 basis points

State Bank of India (SBI) on Wednesday announced reduction in its marginal cost of fund based lending (MCLR) rate by 10 basis points across all tenors, effective October 10.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/33epnmB
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State Bank of India cuts MCLR rate to 8.05 per cent

The rate will be effective from October 10

from Business Line - Money & Banking https://ift.tt/2pQg3qH
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Fiscal slippage is good if it propels growth: SBI Chairman

Today we need more money in the hands of corporates if investment must pick up: Rajnish Kumar

from Banking/Finance-Industry-Economic Times https://ift.tt/2OxXORa
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Churn of senior executives at PSU banks delays adoption of tech: SWIFT Chairman

Customer security programme of SWIFT needs to be implemented by the banking system as small retail accounts are getting hacked, says global body’s India chair Arundhati Bhattacharya.

from Banking/Finance-Industry-Economic Times https://ift.tt/320S8TB
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Fiscal slippage is good if it propels growth: SBI Chairman

Today we need more money in the hands of corporates if investment must pick up: Rajnish Kumar

from Banking/Finance-Industry-Economic Times https://ift.tt/2MkZYkw
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IL&FS law firms get SFIO notices

Agency demands info for past 10 years from consultants as well; law firms seek co’s consent.

from Banking/Finance-Industry-Economic Times https://ift.tt/2MuMAKy
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Why bankers are hesitant to report frauds

As per the latest Reserve Bank of India (RBI) data, an unprecedented 6,801 frauds, totalling Rs 71,500 crore, were detected in FY19.

from Banking/Finance-Industry-Economic Times https://ift.tt/310nTuG
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Fintech start-up Subh Loans gets NBFC licence from RBI

The company said the licence has been received through the subsidiary -- Ekagrata -- of its parent company Datasigns Technologies.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ou1cN1
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Fintech start-up Subh Loans gets NBFC licence from RBI

The company said the licence has been received through the subsidiary -- Ekagrata -- of its parent company Datasigns Technologies.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ou1cN1
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Fintech start-up Subh Loans gets NBFC licence from RBI

The company said the licence has been received through the subsidiary -- Ekagrata -- of its parent company Datasigns Technologies.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ou1cN1
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Fintech start-up Subh Loans gets NBFC licence from RBI

The company said the licence has been received through the subsidiary -- Ekagrata -- of its parent company Datasigns Technologies.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ou1cN1
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Fintech start-up Subh Loans gets NBFC licence from RBI

The company said the licence has been received through the subsidiary -- Ekagrata -- of its parent company Datasigns Technologies.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ou1cN1
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Fintech start-up Subh Loans gets NBFC licence from RBI

The company said the licence has been received through the subsidiary -- Ekagrata -- of its parent company Datasigns Technologies.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ou1cN1
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Tuesday, October 8, 2019

Fintech start-up Subh Loans gets NBFC licence from RBI

The company said the licence has been received through the subsidiary -- Ekagrata -- of its parent company Datasigns Technologies.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ou1cN1
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Fintech start-up Subh Loans gets NBFC licence from RBI

The company said the licence has been received through the subsidiary -- Ekagrata -- of its parent company Datasigns Technologies.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ou1cN1
Read more »

Fintech start-up Subh Loans gets NBFC licence from RBI

The company said the licence has been received through the subsidiary -- Ekagrata -- of its parent company Datasigns Technologies.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ou1cN1
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Analysts warn US banks of choppy times if Democrats win 2020 polls

Banks may be set for a harder time in the next few years as they face slowing earnings-per-share growth and mounting concern about tax hikes and tight

from Business Line - Money & Banking https://ift.tt/31XvZ91
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Deutsche Bank plans half its18,000 job cuts in Germany

Deutsche Bank plans to cut about half its planned 18,000 jobs in Germany as it relies on savings at the retail units to lower costs, according to peo

from Business Line - Money & Banking https://ift.tt/2LWLyrT
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Subh Loans gets RBI’s NBFC licence

Fintech start-up Shubh Loans, on Tuesday, said it has received a licence from the Reserve Bank of India to set up a non-banking financial company. Sh

from Business Line - Money & Banking https://ift.tt/2ootD4k
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Rupeek expands into Coimbatore

Rupeek expands to CoimbatoreBengaluru-based financial technology firm Rupeek has expanded its services to Coimbatore. With this, the gold loan lender

from Business Line - Money & Banking https://ift.tt/35lm538
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Spooked by Libra, EU vows to regulate cryptocurrencies

The European Union’s Finance Commissioner pledged on Tuesday to propose new rules to regulate virtual currencies, in a reaction to Facebook’s plans t

from Business Line - Money & Banking https://ift.tt/2LVswSI
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FinMin moves to ensure smooth HR transition

Asks banks to set up joint committee of EDs to sort out HR-related issues

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The end of Libor: the biggest banking challenge you've never heard of

The end is near for scandal-hit $340-trillion Libor benchmark

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RBI not looking at liquidity facility for NBFCs: Dy Guv N S Vishwanathan

"Reserve Bank's position is that there is adequate liquidity in the system", said RBI deputy Governor N. S. Vishwanathan.

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Exempt premium payable on group medical insurance of retirees from GST: AIBEA

The premium payable on the Group Medical Insurance Policy by retired bank officers and workmen staff should be exempt from Goods and Services Tax (GST

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RBI can consider having a compulsory cyber risk policy for all banks, Sanjay Kedia

With over 5,000 corporate clients in the country, Marsh India remains bullish about the country’s insurance market. In a conversation with BusinessLi

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At Rs 1 lakh, India’s bank deposit insurance lowest in world

According to a report by State Bank of India’s research department, while 75% of bank deposits were covered under insurance in fiscal year 1982, this dropped to 28% in 2018.

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Cheaper home loans? Not necessarily, so don’t rush to borrow

While repo linked lending rates ensure quicker transmission, they do not necessarily mean cheaper loans across all banksWith the RBI, last week cuttin

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United Bank to stay profitable ahead of merger: CEO Ashok Pradhan

He said his bank, which is back in the black, is expected to remain profitable before its merger with Punjab National Bank and Oriental Bank of Commerce.

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Monday, October 7, 2019

Sebi revokes restrictions on four promoter entities of IISL

Sebi had placed trading restrictions on the promoters/ directors of the company.

from Banking/Finance-Industry-Economic Times https://ift.tt/2VmOq4n
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Banks may post weak loan growth in Q2FY20; here are key reasons

The banks are likely to post weak credit growth in the second quarter of the ongoing fiscal owing to challenges on the macroeconomic front, said a brokerage.

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Banks may post weak loan growth in Q2FY20; here are key reasons

The banks are likely to post weak credit growth in the second quarter of the ongoing fiscal owing to challenges on the macroeconomic front, said a brokerage.

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Bank of Baroda lowers repo-linked retail loan pricing by 25 bps

The new rates will be applicable on home loans, mortgage loans, car loans, education loans, personal loans and all other retail loan products linked to repo rate.

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RBI asks state level bankers to expand digital payments ecosystem

This will include providing the necessary infrastructure and literacy to handle such transactions, it said.

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Banks may post weak loan growth in Q2FY20; here are key reasons

The banks are likely to post weak credit growth in the second quarter of the ongoing fiscal owing to challenges on the macroeconomic front, said a brokerage.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2VkJvke
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YES Bank’s Diwali bonanza: Big bonuses for employees, ramps up hirings

The bank is offering handsome hikes to prospective employees and the attractive packages are bringing very healthy response to the bank’s recruitment drive

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Fag-end selling drags Sensex down 141 pts; Yes Bank rallies 8 per cent

The 30-share BSE Sensex settled at 37,531.98 points, down by 141.33 points or 0.38 per cent as 24 of its components posted losses. The barometer oscillated between the day's high of 37,919.47 and the low of 37,480.53. Broader NSE Nifty dropped by 48.35 points or 0.43 per cent to close at 11,126.40 as leading IT, pharma, financials, and oil stocks retreated due to profit booking. As many as 32 of Nifty components declined.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/30U40W4
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YES Bank’s Diwali bonanza: Big bonuses for employees, ramps up hirings

The bank is offering handsome hikes to prospective employees and the attractive packages are bringing very healthy response to the bank’s recruitment drive

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ANnVeV
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YES Bank’s Diwali bonanza: Big bonuses for employees, ramps up hirings

The bank is offering handsome hikes to prospective employees and the attractive packages are bringing very healthy response to the bank’s recruitment drive

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ANnVeV
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Dire need to revisit deposit insurance coverage, says SBI report

The current upper limit of ₹1 lakh per depositor has outlived its shelf life, and there is a need to revisit it, says the report.

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YES Bank’s Diwali bonanza: Big bonuses for employees, ramps up hirings

The bank is offering handsome hikes to prospective employees and the attractive packages are bringing very healthy response to the bank’s recruitment drive

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ANnVeV
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U GRO Capital, Bank of Baroda team up for co-origination loans to SMEs

U GRO Capital, a technology-enabled lender to small businesses, has entered into a loan co-origination partnership with Bank of Baroda. For BSE-liste

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Nippon Life invests Rs 6,000 cr to emerge largest shareholder in Reliance MF

Rebrands company as Nippon India MF

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Time to massively increase depositor insurance: Report

The Punjab & Maharashtra Cooperative Bank (PMC) scam points to the urgent need to massively increase the depositor insurance cover from the present Rs 1 lakh, says a report.

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YES Bank’s Diwali bonanza: Big bonuses for employees, ramps up hirings

The bank is offering handsome hikes to prospective employees and the attractive packages are bringing very healthy response to the bank’s recruitment drive

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ANnVeV
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SBI launches debit card with EMI facility

The EMIs would begin one month after the transaction is complete.

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Banks will have to reclassify loans given to HDIL as fraud

Real estate developer HDIL is currently in default to various banks and has been admitted for proceedings under the Insolvency and Bankruptcy Code.

from Banking/Finance-Industry-Economic Times https://ift.tt/335VLIf
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