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Saturday, March 28, 2020

Which is a better mode to invest in Axis Focused 25 Fund?

Investors can invest in Axis Focused 25 Fund via two modes - namely SIP & Lump sum. SIP: Investors can give their investment a systematic approach by opting ...

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After SC order, India's cryptocurrency space is whirring back into action

After years of stagnation, the cryptocurrency space in India is whirring back into action, with the Supreme Court lifting a regulatory ban

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Public sector banks merger to come into effect from April 1: RBI

The Reserve Bank of India (RBI) on Saturday said the branches of six public sector banks (PSBs) will function as branches of the four larger PSBs the

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No disruption in customer services; all branches to remain open: Bankers assures FM

Finance Minister Nirmala Sitharaman on Saturday said she had extensive discussions with the heads of banks who assured of customers services without disruption and keeping all branches open.

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Advantages of investing in Axis Focused 25 Fund

There are multiple benefits of investing in Axis Focused 25 Fund: Mutual Fund Investments are subject to market risks, read all scheme related documents care...

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SBI raises $100 million via green bonds

The country's largest lender State Bank of India on Saturday said it has raised USD 100 million green bonds, the first such bond by any state-owned bank in this fiscal.

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Axis Focused 25 Fund - Portfolio Strategy

Axis Focused 25 Fund is an open ended equity scheme investing in maximum 25 stocks investing in large cap, mid cap and small cap companies. The scheme invest...

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Covid-19: Bank of Baroda to provide Rs 2,000 to every banking correspondents

Bank of Baroda on Saturday said it will provide Rs 2,000 each to business correspondents to maintain hygiene standards amid coronavirus outbreak.

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Fitch Ratings downgrades Long-Term IDR for Shriram Transport Finance Company, Muthoot Finance

Fitch Ratings has downgraded the Long-Term Issuer Default Ratings (IDRs) of Shriram Transport Finance Company Limited (STFC) and Muthoot Finance Limi

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Bank mitras: Finance Minister to talk to States for their restriction free movements

will also speak to all banks to facilitate flow of cash

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Merger process of Allahabad Bank, Indian Bank might face slight delay: Official

The merger process of Indian Bank and Allahabad Bank could face a slight delay in the wake of the 21-day nationwide lockdown, an official of the Kolkata-based lender said on Saturday.

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Covid19: IRDAI relaxes re-insurance norms

The Insurance Regulatory and Development Authority of India (IRDAI) has relaxed reinsurance norms for the insurers.As per the current regulations, th

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Will speak to banks to facilitate cash flow, ensure timely access: FM

"Appreciate the service Bank Mitra/Banking Correspondents are undertaking across the country. Will talk to states - request no restrictions in their movements. Will speak to all banks to facilitate cash flow. Let's ensure timely access to all," the Finance Minister said in a series of tweets.

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Visit the banks only in case of absolute necessity: Indian Banks’ Association tells customers

IBA says that most of the banking services are available online.

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Will speak to banks to facilitate cash flow: FM

Lauding efforts of bankers in this difficult time, finance minister Nirmala Sitharaman on Saturday said that she will speak to all banks to facilitate cash flow and enable timely access to all.

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SBI passes on entire benefit, cuts lending rate by 75 bps

State Bank of India (SBI) has passed on the entire cut in interest rates by the RBI to its borrowers by bringing down its external benchmark-linked lending rate as well as the repo-linked lending rate by 75 basis points (100bps = 1 percentage point) from April 1.

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With no pandemic cover, IPL and other events unlikely to get insurance payouts

Epidemics or pandemics are usually not underwritten by a majority of insurers in India.

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RBI cuts rate by 75 bps, steepest in over 10 years; you can defer EMIs by 3 months

The Reserve Bank of India on Friday cut interest rates by 75 basis points (bps)—the sharpest in over a decade. It also made available Rs 3.74 lakh crore of additional liquidity to banks and allowed almost all borrowers to defer loan repayments by three months.

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RBI allows lenders to provide 3-month moratorium on loans

Banks will now have discretion in deciding the limits on working capital, with RBI saying that no payment miss should be considered a default and reported to credit information companies.

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No new business, little profit: Banks face the squeeze

Experts see a sharp drop in transactional fee income, while disbursements are also expected to come to a standstill due to disruptions induced by Covid-19.

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Friday, March 27, 2020

Functioning of merged entity of PNB, OBC, UBI to be big challenge during lockdown: Official

The merger of UBI and OBC into PNB will lead to the creation of the country's second largest lender after State Bank of India, an official said. "Under the given conditions, the effective functioning of the merged entity will be a big challenge. The government has not given any direction so far in this regard," the UBI official told.

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Rumours of branch closure false; customer services points open: DFS Secretary

"Customer service bank branches are operational & will continue to provide services. Sufficient cash across branches & ATMs! Don't trust rumours of branch closures! Customers requested to stagger arrival at Branches etc," Financial Services Secretary Debasish Panda said in a tweet.

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RBI slashes repo rate and unleashes other tools to tackle COVID. What does it mean to banks and borrowers?

BL Research BureauAfter dragging its feet over the past two weeks, the RBI stepped up its efforts substantially on Friday, bringing in much-needed re

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Slashed interest rate needs quick transmission: FM

Finance minister Nirmala Sitharaman on Friday asked banks for "quick transmission" of slashed interest rate as the RBI cut the key lending rate sharply by 75 basis points (bps) to boost liquidity in financial system to deal with the COVID-19 pandemic.

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SIDBI loans for micro and small enterprises fighting Covid-19

Banks give emergency line of credit to help businesses

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HDFC Retirement Savings Fund

HDFC Retirement Savings Fund – The gateway to save tax now, and retire in style tomorrow When it comes to retirement planning, deferment/postponement is norm...

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HDFC Equity Fund – A Multi cap fund with history of 25 years

It is extremely difficult for an average investor to understand the valuations of large -, mid- and small-cap stocks and predict which market segment will ou...

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RBI Governor Shaktikanta Das urges people not resort to panic buying; says Indian banking system is safe

The comments, which came after a massive correction in banking stocks following the Yes Bank crisis and coronavirus outbreak, also urged depositors not to resort to panic withdrawals.

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RBI Governor Shaktikanta Das exhorts people to go digital amid coronavirus crisis

In a very unconventional and unprecedented move, the Reserve Bank in an early morning conference announced a huge Rs 3.74 lakh crore liquidity support to the banking sector, and decided to cut the key repo rate by a significant 75 basis points of 0.75 percentage points to 4.4 per cent.

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RBI Governor urges people not resort to panic buying; says Indian banking system is safe

The comments, which came after a massive correction in banking stocks following the Yes Bank crisis and coronavirus outbreak, also urged depositors not to resort to panic withdrawals.

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RBI governor urges people not resort to panic buying

Allaying depositors' concerns, Reserve Bank of India (RBI) governor Shaktikanta Das on Friday asserted that the Indian banking system is safe, and termed linking banks' share prices to safety of deposits as "fallacious" thinking.

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EMIs put on hold, big-bang rate cut by RBI

The Reserve Bank of India (RBI) cut repo to 4.4 per cent, the lowest in at least 15 years. Also, it reduced the cash reserve ratio maintained by the banks for the first time in over seven years. CRR for all banks was cut by 100 basis points to release Rs 1.37 lakh crore across banking system.

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RBI reduces repo rate by 75 bps to 4.4%: Key points

Reserve Bank of India (RBI) governor Shaktikanta Das on Friday announced a 75 basis points cut in its policy repo rate to deal with the impact of deadly coronavirus outbbreak on the economy.

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RBI measures will ease liquidity, help borrowers: Karnataka Bank MD

Karnataka Bank has said that the measures taken by Reserve Bank of India today will help ease liquidity pressure on the banking system, and help bo

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Amid lockdown, banks, ATM companies warn of rush for salary, government dole

Even as many branches are not able to operate because of a staff shortage, banks are warning of large crowds in branches as Pradhan Mantri Jan Dhan Yojana (PMJDY) account beneficiaries, unfamiliar with debit cards, approach branches for withdrawal.

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To fight Covid-19, SIDBI to provide loans to MSEs manufacturing medical supplies

MSEs engaged in manufacturing of hand sanitizers, masks, ventilators, goggles and other equipment can apply for loans under this scheme

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Banking system will be flush with liquidity as CRR cut to 3 per cent

The banking system will become flush with liquidity aggregating ₹3.74 lakh crore as the Reserve Bank of India (RBI) has, among others, decided to cut

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COVID19: Laurus Labs donates 2 lakh Hydroxychloroquine tablets, Rs 1 crore

Laurus Labs Ltd has donated two lakh tablets of Hydroxychloroquine (HCQ) Tablets as mitigation initiative in the wake of Coronavirus (Covid-19) and a

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RBI cuts repo rate by 75 basis points

Reverse repo rate slashed by 90 bps

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Sensex jumps over 1,000 points as banks, IT stocks surge; Nifty above 8,900

Equity indices on Friday started the day on a positive note with the benchmark BSE sensex rising over 1,000 points in opening session -- led by gains in banking, financial and IT stocks -- after the government announced Rs 1.7 lakh crore stimulus package for segments hit by coronavirus-led lockdowns.

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Andhra Bank opens Covid-19 emergency credit line

 Andhra Bank has opened an emergency credit line by launching a new short-term loan facility. The Covid-19 Emergency Credit Line (CECL) is being offer

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Covid-19 outbreak: Insurers facilitate telemedical check-ups for policy buyers

With the country under lockdown to slow the spread of Covid-19 outbreak, insurers such as HDFC Ergo, Religare, Max Bupa, Tata AIA along with intermediaries such as Policybazaar have ramped up these remote services that would involve vetting of customer applications and subsequent consultations by doctors over the telephone.

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Covid-19 scare: Depositors withdraw Rs 53,000 crore cash in 15 days

Cash withdrawals from banks hit a 16-month high when the public withdrew Rs 53,000 crore during the fortnight ended March 13, according to the data released by the Reserve Bank of India (RBI). Such huge cash withdrawals are seen only during festivals or elections.

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Thursday, March 26, 2020

More calibrated responses from govt expected as impact of Covid-19 unfolds: SBI Chief

New Delhi, Mar 26 () Terming the relief package as timely intervention, SBI Chairman Rajnish Kumar on Thursday said more calibrated responses in coming weeks expected as the impact of pandemic COVID-19 unfolds.

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47,400 MW coal fired power projects were cancelled in India in 2019: Report

Pre-construction capacity halved in just the past year in India from 60.2 GW in 2018 to 29.3 GW in 2019 with another 37 GW in under-construction stage, according to the report.

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SBI Chief Rajnish Kumar says more calibrated responses from govt expected as impact of COVID-19 unfolds:

The government on Thursday unveiled a Rs 1.70 lakh crore economic package involving free foodgrain and cooking gas to poor for the next three months, one-time doles to women and poor senior citizens, higher wages to workers and measures to boost liquidity of employees

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Mega bank consolidation on track; to take effect from April 1, says FM Sitharaman

The merger will result in creation of seven large PSBs with scale and national reach, with each amalgamated entity having business of over Rs 8 lakh crore and it would help create banks with scale comparable to global banks and capable of competing effectively in India and globally.

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GROW YOUR MONEY WITH LIC'S ALL NEW INVESTMENT PRODUCTS

Life Insurance Corporation of India, the government owned, largest Insurance Company in the country has floated numerous ULIP Plans over the past decade. The...

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Mega bank consolidation on track; to take effect from April 1: Sitharaman

The government on Thursday said the mega bank consolidation plan is very much on track and will take effect from April 1 despite the onslaught of coronavirus pandemic throwing the country out of gear. The Union Cabinet earlier this month approved amalgamation of 10 public sector banks into 4 global size lenders, beginning next financial year.

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COVID-19: Offline retailers urge FM, NBFCs to allow delays in EMI payments

The industry body represents 1.50 lakh mobile retailers who may be unable to pay their monthly instalments and interest towards credit cards, vehicle loan, home loan and business loans taken by them. A similar letter highlighting the concerns of the mobile retailers was also sent to non-banking finance companies (NBFCs).

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RBI gets muted response to 12-day variable rate term repo auction

Our BureauThe Reserve Bank of India (RBI), on Thursday, received bids aggregating only ₹11,772 crore against the notified amount of ₹50,000 crore at t

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Kotak Mahindra to reimburse employees, family members for COVID-19 test

The Kotak Mahindra group, which runs private sector lender Kotak Mahindra Bank, has nearly 60,000 employees. Earlier this week, the government had allowed select private sector entities to start testing for the dreaded virus, which has taken 13 lives in India and infected over 600 people. During the lockdown, the working hours for branches have been reduced to between 1000-1400 hrs.

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Union Bank of India sets up emergency funding line for corporates, MSMEs

The bank is offering a maximum 10 per cent of the existing working capital limit to accounts that are standard as on February 1, 2020, a statement said.

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Indian banks plan to shut down most branches during lockdown: Sources

Banks have been exempted from a 21-day lockdown that began this week.

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Banks plan to close most branches during lockdown: Sources

India’s central bank and major lenders are considering shutting down most branches across the country to prevent tens of thousands of employees from

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RBI doubles the variable rate repo auction amount to ₹50,000 cr

The Reserve Bank has doubled the amount of the 12-day variable rate term repo auction scheduled for today to ₹50,000 crore. This auction was originall

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Banks offer emergency salary, business loans

State-owned banks have taken the initiative with loan offerings aimed to minimise the current slowdown’s impact on individuals and small businesses. SBI was the first to launch a Covid Emergency Credit Line, which allowed borrowers to avail up to 10% of their existing fund-based limits (subject to a maximum of Rs 100 crore).

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Digital Lenders Association urges Govt to open credit tap for consumers, MSMEs

  The Digital Lenders Association of India (DLAI) has submitted a set of recommendations to the Central Government to facilitate and maintain continue

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PSU banks come to rescue before govt’s economic package; SBI, Indian Bank, others offer quick credit

The businesses suffering from a slump in demand and zero footfall in the market can now look up to many PSU banks to get emergency credit to carry on their endeavors.

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Canara Bank offers credit support to MSMEs, corporates, agri, business entities & retail borrowers to tide over Covid-19

Bengaluru, March 26 Public sector Canara Bank has launched a new loan scheme ― Canara Credit Support ― with immediate effect to support its customers

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Syndicate Bank not to offer passbook printing service to avoid possible contact with affected

Bengaluru, March 26 To ensure minimum human contact, public sector Syndicate Bank has limited its banking services like ATMs, branch banking and door-

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Banks working out credit lines to ease redemption pressure at MFs

Banks, especially from the public sector, are working out credit lines to support mutual funds (MFs), which are currently up against year-end redempti

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IMF, World Bank call for suspending debt payments by poorest nations

The International Monetary Fund and World Bank on Wednesday called for governments to put a hold on debt payments from the world’s poorest nations so

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Govt takes steps to keep banks running

In a letter dated March 24 to chief secretaries of states and union territories, it has requested to permit bank staff, RBI staff, NPCI staff and cash logistics companies to travel during the lockdown.

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Govt has to play a big role to ensure firms don’t go bankrupt: Apollo Tyres MD

India has much to gain if govt can develop country as a global automobile hub, says Apollo Tyres MD. Kanwar said the business environment is “very difficult” currently. In Europe, which accounts for a third of the revenues at Apollo Tyres, several vehicle and component manufacturers — Volkswagen, Renault, FCA, Magneti Marelli — have suspended operations.

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Gross non-performing assets of banks may rise up to 9.6-9.9%: CARE

The rating agency has done analysis of 38 banks, which showed the GNPAs of banks were 9.3% till the December quarter.

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Cabinet decisions: Regional rural banks to get Rs 1,340-cr capital in FY21

CCEA has cleared a proposal that involves a total of Rs 1,340-crore capital infusion into regional rural banks (RRBs) in FY21 to bolster their ability to lend.

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Indian Bank rolls out 5 special emergency loans to Covid 19-hit customers

As a relief to the Covid 19-affected customers, the bank will provide additional funding of up to 10% of the working capital limits (both fund-based and non-fund-based limits) with a maximum limit of Rs 100 crore.

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Wednesday, March 25, 2020

Opt for digital payments: NPCI

The National Payments Corporation of India (NPCI) has urged users as well as providers of essential services to opt for digital payments and reduce so

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Defer mega bank merger amidst COVID-19 pandemic: Officers’ union requests PM Modi

Banking services across the country are impacted due to the effect of COVID-19 as a near shut down is being observed across the country.

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IndiaFirst Insurance announces its Business Continuity Plan to ensure smooth operations during Covid-19 lockdown

The Bank of Baroda and Andhra Bank owned life insurers also said that the all policies issued by the company stands valid even on event of death due to Covid-19 virus. The company has also made all servicing and distribution channels digital as well, it said in a press release.

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Covid-19: Canara Bank waives charges on withdrawal from other ATMs

The lender will not charge any penalty from its customers for non-maintenance of minimum balance in savings bank accounts. It has also waived off service charges for all digital transactions under TReDS.

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Department of Financial Services ensures unhindered banking services

The Department of Financial Services has told the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) to ensure that all electronic and digital payment modes and channels function unhindered. It has directed Indian Banks' Association (IBA) to coordinate with banks to ensure cash availability in ATMs.

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SBI sees drop in banking transactions during lockdown but most ATMs running: Official

Online transactions are going on but overall there is a decline in banking activities, P K Gupta, Head of Retail, Payments & Digital Banking, State Bank of India (SBI) said.

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Goverment approves Rs 670 crore recapitalisation plan of RRBs to improve capital base

As per the law, the Central Government holds 50 per cent stake in regional rural banks

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Banks may see increase in credit provisions as asset quality stress is likely to go up, says ICRA

Asset quality issues are likely to resurface for banks amid credit squeeze in a slowing economy, according to ICRA’s report on the impact of Covid-19

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YES Bank board to meet todayto discuss capital-raising plans

Our BureauThe reconstituted board of private sector lender YES Bank is set to meet on Thursday to finalise its capital-raising plans.Sources privy to

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SBI sees drop in banking transcations during lockdown but most ATMs running: Official

Online transactions are going on but overall there is a decline in banking activities, P K Gupta, Head of Retail, Payments & Digital Banking, State Bank of India (SBI) said.

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COVID-19: Indian Bank announces additional funding facility

Amidst the coronavirus outbreak, state-run Indian Bank on Wednesday announced an additional funding facility for large corporates, MSME, retail customers, pensioners and self-help groups (SHGs).

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COVID-19: Indian Bank announces additional funding facility

Last week, the country's largest lender State Bank of India also announced an emergency credit line to meet any liquidity mismatch for its borrowers.

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CCEA approves recapitalisation of RRBs

Information and Broadcasting Minister Prakash Javdekar said that the recapitalization of RRBs will improve their Capital to Risk Weighted Assets Ratio.

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NBFCs financing MHCV sales set to see mounting challenges, says ICRA

Financing of new medium & heavy commercial vehicles (MHCVs) by non-banking finance companies (NBFCs) will continue to remain subdued in FY21 as M

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Increased default threshold for IBC trigger comes into effect

From ₹1 lakh, the threshold has been raised to ₹1 crore

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With robust demand for cash at ATMs, it’s business as usual for cash logistics players

But amid lockdown, cash-carrying vans may face some challenges in getting through to replenish ATMs

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Yes Bank board to meet on March 26 to discuss capital raising plans

The reconstituted board of private sector lender Yes Bank is set to meet on Thursday to finalise its capital raising plans. Sources privy to the devel

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Agenda for small private banks: Bridge the trust deficit

Their faith shaken and fears stirred up by the Yes Bank curbs and PMC’s sudden failure, savers are withdrawing deposits in a ‘safety-first’ approach. So, smaller lenders are now under notice to rebuild their business models around sound risk assessment and better communication.

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Delay in bank loan repayment: Companies point to 'act of god', seek relief

An Act of God, or force majeure in legal parlance, describes an event outside of human control or activity, and is generally invoked in extreme circumstances where the business has been affected by a natural calamity, epidemic or war.x

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Tuesday, March 24, 2020

Jana SFB launches UPI QR-basedloan installment payment facility

Jana Small Finance Bank, along with National Payment Corporation of India, has launched a UPI QR-based loan installment payment facility for its custo

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LoanTap waives penal charges for customers due to YES Bank moratorium

Online lending platform LoanTap on Tuesday said customers whose repayments were delayed during the YES Bank’s moratorium period will not be levied a

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Covid-19: Karnataka Bank announces waiver of charges for digital transactions

Private sector lender Karnataka Bank on Tuesday announced waiver of charges for NEFT, RTGS, IMPS and UPI transactions done through its digital channels and ATM transactions from Bank’s own ATMs to its customers until further notification.

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Centre waives ATM withdrawal charges for three months

Union finance minister Nirmala Sitharaman on Tuesday waived minimum balance charges for savings bank accounts to help citizens deal with the lockdown due to the coronavirus crisis.

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LoanTap waives penal charges for customers due to Yes Bank moratorium

In the first week of March, Yes Bank was placed under moratorium and withdrawal limits were imposed, due to which its banking operations were affected. There will be no penal interest on customers whose repayment is delayed due to the moratorium on Yes Bank, LoanTap said in a statement.

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Non-essential branch visits by NRI customers, retirees pose health hazard to bank staff

Kochi, March 24 Non-resident Indian (NRI) clients are preferred customers for banks during boom periods. But the irresponsible behaviour of some of th

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RBI advances variable repo auction to March 26

The Reserve Bank of India has decided to advance the variable rate repo auction aggregating ₹25,000 crore, scheduled for March 30, to March 26. The

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IRDAI relaxes payment dates for life and health policies due to COVID-19

Faced with the unprecedented situation of a lockdown due to the rapid spread of coronavirus, the insurance regulator has asked both life and non-life

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RBI holds variable repo auction, receives bids worth Rs 46,160 crore

The Reserve Bank of India (RBI) on Tuesday received bids aggregating Rs 46,160 crore at the 16-day variable repo auction against the notified amount

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COVID-19: DCB Bank to spend Rs 1 crore CSR funds next 3 months

DCB Bank remains committed to its CSR initiative for the overall betterment of Indian society and its people.

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Jana SFB launches UPI QR-based loan instalment payment facility

Jana Small Finance Bank along with National Payment Corporation of India has launched a UPI QR based loan instalment payment facility for its customer

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Push back closing of Nabard accounts by a month, says employee union

The All India Nabard Employees Association has urged the Chairman of the National Bank for Agriculture and Rural Development (Nabard) to push back clo

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Who to blame for Yes Bank crisis? Former RBI chief Bimal Jalan tells whom to hold responsible

In an interview with news agency PTI, Bimal Jalan, who served as the head of the Reserve Bank of India for a period of six years, said, “I don't think we should blame RBI or the finance ministry for the Yes Bank crisis. For Yes Bank crisis, Yes Bank is responsible.”

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Covid-19: Can RBI mimic Fed’s actions to bring economy back on track?

RBI may have to don the lender’s suit as desperate times call for desperate measures

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RBI rejects sale of Religare arms to TCG

Reserve Bank of India (RBI) has rejected a proposal by TCG Capital to acquire Religare Enterprises’ arms Religare Finvest and Religare Housing Development Finance. The central bank has also asked the company to find another suitor.

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Moratorium sought on retail loans

The coronavirus pandemic could affect the capacity of the salaried and middle-class to service home loans, education loans and vehicle loans.

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Covid-19: IRDAI issues lock-down guidelines for insurers

In view of the lock-down in 75 districts across the country and in many states, the insurance regulator has issued special guidelines to insurers.Sta

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DHFL claims cross Rs 1 lakh crore

The troubled lender is undergoing a resolution process under the Insolvency and Bankruptcy Code, 2016, after the Mumbai bench of the National Company Law Tribunal (NCLT) admitted the case on December 2, 2019.

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Banking system liquidity falls to Rs 2.17 lakh crore: Care Ratings

There could be improvement in the liquidity position with an upcoming OMO purchase aggregating Rs 15,000 crore by the RBI scheduled for March 24.

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NBFC association seeks three-month moratorium on EMI payments

NBFCs are at the forefront of financing many of the affected sectors, notably small road transport operators, taxi aggregators, infrastructure contractors, MSMEs, traders etc.

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Covid-19: India needs three-fold rescue plan from govt, regulators, says HDFC Bank chief

At the same time, Puri asked for the rural sector to be protected from the spread of the viral outbreak as this segment has been showing signs of recovery, with a good rabi crop working in its favour.

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SBI commits part of profit to fight Covid-19 outbreak

State Bank of India on Monday said it will commit 0.25 per cent of its annual profit (FY2020) to fight the Covid-19 outbreak situation in India. India

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Yes Bank board may discuss Rs 15,000-20,000 cr fund raising, management shuffle on March 26

State Bank of India (SBI) and seven other lenders infused Rs 10,000 crore in Yes Bank via equity infusion.

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Monday, March 23, 2020

Ujjivan Small Finance Bank's Director resign

Ujjivan Small Finance Bank (SFB) on Monday said its independent director Luis Miranda has resigned from its board to abide by conflict of interest norms.

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RBI extends priority sector classification for bank loans to NBFCs to FY21

The Reserve Bank of India (RBI) has decided to extend priority sector classification for bank loans to non-banking finance companies (NBFCs) for on-le

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Yes Bank board to consider fundraising plan later this week

The fundraising plan will also include a qualified institutions placement, rights issue, and further public offer, among others, subject to such approvals, the bank added.

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Axis Bank sets aside this much fund to fight coronavirus; here’s how bank will use this money

India’s third-largest private sector lender Axis Bank has set aside an emergency fund that will be used to support customers and employees, among others.

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Former RBI governor Bimal Jalan blames Yes Bank for the crisis

"I don't think we should blame RBI or finance ministry for Yes Bank crisis. For Yes Bank crisis, Yes Bank is responsible," Jalan said. Facing the collapse of the fourth largest private lender, the Reserve Bank had sacked Yes Bank management and placed it under an administrator in the evening of March 5 with a 30-day moratorium.

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Coronavirus: Axis Bank announces Rs 100 cr fund to fight pandemic

Private lender Axis Bank on Monday said it will set aside Rs. 100 crore to support its customers, employees, vendors and government agencies towards curbing the spread of coronavirus.

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