RBI approves re-appointment of Vishakha Mulye as ICICI Bank ED

The Reserve Bank of India has approved the re-appointment of Vishakha Mulye as an Executive Director of the ICICI Bank for a three-year period.The re-

from Business Line - Money & Banking https://ift.tt/3nv1a5t

Read more »

RBI weighs trade credit insurance for financiers on TReDS

The Reserve Bank of India is weighing the possibility of allowing financiers on the Trade Receivables Discounting System (TReDS) to take trade credit

from Business Line - Money & Banking https://ift.tt/2XpnNxt

Read more »

CBI books Hyderabad-based Coastal Projects Ltd in connection with Rs 4,736 crore bank fraud

The complaint from the SBI, now a part of the FIR, has alleged that the accused construction company, during the five year period between 2013 and 2018, falsified account books and financial statements to show unrealisable bank guarantee amounts as realisable investments, Central Bureau of Investigation (CBI) spokesperson R C Joshi said.

from Banking/Finance-Industry-Economic Times https://ift.tt/2K1Ueiw

Read more »

Life insurance business down 1.69% till December

The first-year premium of life insurers in the first three quarters of the current fiscal ended December 31, 2020, declined 1.69 per cent at ₹1,91,046

from Business Line - Money & Banking https://ift.tt/38poYTY

Read more »

DHFL FD holders plan to vote against resolution on distribution mechanism

Vinay Kumar Mittal said FD holders, barring those in Rs 2 lakh bracket, are going to lose maximum amount of money as their recovery is not defined in the plan.

from Banking & Finance – The Financial Express https://ift.tt/2XqNvl6

Read more »

RBI returns to revised liquidity management framework

Some market participants have read these comments as a hint that there may be no more rate cuts anytime soon.

from Banking & Finance – The Financial Express https://ift.tt/3otEEv4

Read more »

‘Doubled disbursement in Q3 sequentially, momentum sustainable’: YS Chakravarti, MD & CEO, Shriram City Union Finance

In December, we touched the pre-Covid level, and November was also okay. Overall, for the third quarter, I would say the collection efficiency was close to the pre-Covid levels.

from Banking & Finance – The Financial Express https://ift.tt/35laySO

Read more »

Udayan Bose: The affable deal maker of the ‘90s

Known for his networking skills and relationships with some of the biggest names of Corporate India, Bose led the Indian arm of Lazard, the international financial services house.

from Banking/Finance-Industry-Economic Times https://ift.tt/35n8ytm

Read more »

Auditors cannot share client info with credit raters

CA Institute says data can be given only at auditee’s behest, or at a regulator’s request

from Business Line - Money & Banking https://ift.tt/3s0hRZQ

Read more »

SEBI begins probe into credit rating for Oaktree’s DHFL resolution plan

Seeks details on the basis of which claims were made by American fund

from Business Line - Money & Banking https://ift.tt/3q1xfUa

Read more »

SBI home-loan rates now start at 6.8%

The lender also plans to offer 100% waiver on loan-processing fees

from Business Line - Money & Banking https://ift.tt/2LtniQi

Read more »

Gold bonds priced at ₹5,104/ gm: RBI

The nominal value of bonds under the ‘Sovereign Gold Bond (SGB) Scheme 2020-21 - Series X’ works out to ₹5,104 per gram of gold against ₹5,000 in the

from Business Line - Money & Banking https://ift.tt/2L5YPAV

Read more »

‘Provisions of the resolution plan submitted by Oaktree not in compliance with law’

Continuing the war of letters over Dewan Housing Finance Corporation Ltd, Ajay Piramal, Chairman, Piramal Enterprises Ltd, has written to the Reserve

from Business Line - Money & Banking https://ift.tt/3nkTK4E

Read more »

RBI to restore normal liquidity management operations in a phased manner

To conduct variable rate reverse repo auction for ₹2-lakh cr

from Business Line - Money & Banking https://ift.tt/3q3Euem

Read more »

Sipadan sells remaining 5.46% stake in IDFC

Sipadan Investments (Mauritius) Ltd has sold its remaining 5.46 per cent stake in IDFC Ltd in the open market. As per IDFC’s notice to the exchanges,

from Business Line - Money & Banking https://ift.tt/3pXmv9h

Read more »

Small retailers breathe easy with MinksPay's SmartCredit

In the months following the lockdown, small businesses felt the pinch of lack of adequate working capital. Most of them didn’t have access to formal

from Business Line - Money & Banking https://ift.tt/3pZ0wyx

Read more »

Remaining impact of provisions under divergence at ₹358 crore: BoI

Our Bureau Bank of India (BoI), on Friday, said the remaining impact of provisions under divergence as per the Reserve Bank of India’s (RBI) Risk Asse

from Business Line - Money & Banking https://ift.tt/3nkavNm

Read more »

Reliance Capital's total outstanding debt rises to Rs 20,380 crore

Total financial indebtedness of the listed entity, including short-term and long-term debt and accrued interest, was Rs 20,379.71 crore at the end of December 2020, Reliance Capital said in a regulatory filing on Thursday.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Lg5d8D

Read more »

Infra sector firms want renegotiation of EPC contracts amid rise in input cost; lenders oppose

"The contract is sacrosanct. It's the contract against which we provide finance," State Bank of India general manager for project finance Sanjay Kumar Singh said Friday. He said that banks have been taking this up with the government at different platforms saying that re-negotiation may become a challenge for them.

from Banking/Finance-Industry-Economic Times https://ift.tt/3pUX3Ry

Read more »

SBI rolls out interest cut of up to 30 bps on home loans

100% processing fee waiver, 5 bps extra cut for women, balance transfer, application through YONO among other sops

from Business Line - Money & Banking https://ift.tt/3hUXf0y

Read more »

RBI to banks: Ensure authority, stature, independence, resources to internal audit function

Forbids outsourcing the function; however, experts, including former staff, can be hired on contract

from Business Line - Money & Banking https://ift.tt/3q0ThWU

Read more »

SBI raises $600 million through overseas bonds

State Bank of India (SBI), the country's largest bank, on Thursday raised $600 million through bonds issued to international investors at a coupon of 1.8%, which is the lowest pricing for such an issue.

from Banking & Finance – The Financial Express https://ift.tt/39ajXxR

Read more »

Banks set to post weak revenue growth in Q3: Analysts

Banks are likely to post weak revenue growth for the December quarter, analysts said, even as the loan growth improved and bad loan recognition remained paused.

from Banking & Finance – The Financial Express https://ift.tt/3npQy7G

Read more »

View: Bad bank is a good idea, but India's debt-laden banks need a better plan

How does one make bad loans seamlessly move from banks to investors who love dealing in junk? How does one make such deals part of a normal and liquid securities market — and not merely a parking pact among bank, ARC and promoter?

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

Read more »

State Bank of India, Indian Oil Corporation launch co-branded RuPay debit card

It is a contactless card and transactions up to Rs 5,000 can be paid for with just a tap. The card will also simplify the everyday purchases of customers with secure and convenient contactless payments.

from Banking/Finance-Industry-Economic Times https://ift.tt/3s57NyI

Read more »

TVS Capital closes third fund-raise of ₹2,000 crore, with all-Indian capital

Top family offices, ‘Friends of the Fund’ and DFIs contribute to the fund

from Business Line - Money & Banking https://ift.tt/3bgvz4O

Read more »

Assam MFI Bill may hit collections in short term

Sector roiled by pandemic and natural calamities may face a repayment crisis

from Business Line - Money & Banking https://ift.tt/39ggr58

Read more »

Union Bank to issue AT-1 bonds to raise up to ₹1,000 crore

Union Bank of India (UBI), on Thursday, said it will issue Basel III-compliant Perpetual Debt lnstruments, in the nature of Debentures eligible for in

from Business Line - Money & Banking https://ift.tt/3npDPSB

Read more »

Punjab National Bank, IIT-Kanpur, FIRST join hands to set up Fintech Innovation Centre

The partnership will facilitate research and develop technological solutions to address challenges and explore opportunities in the BFSI space, the bank said. PNB intends to develop new products or solutions with technological innovations with the help of IITK’s faculty members.

from Banking/Finance-Industry-Economic Times https://ift.tt/397d2FD

Read more »

Bank Preview: Stress under control but margins under pressure

Overall large private sector banks are likely to continue outperforming their mid and small size peers and also public sector counter parts due to their cost efficiencies. Banks may also use their provisions kept against covid-19 impact during the first half of the fiscal.

from Banking/Finance-Industry-Economic Times https://ift.tt/3bfb7kP

Read more »

Oaktree Capital wants CoC to consider its additional offer of ₹1,700 crore for DHFL

Our BureauOaktree Capital has fired a fresh salvo, asking the Committee of Creditors to consider its additional offer of ₹1,700 crore for Dewan Housin

from Business Line - Money & Banking https://ift.tt/2LrbzBV

Read more »

LIC launches special campaign to revive lapsed policies

Will also offer concession of up to 30% in late fees for eligible policies

from Business Line - Money & Banking https://ift.tt/3rW1LjU

Read more »

Telangana High Court issues notice to IRDAI on appointment of executive director

According to the PIL filed by a social activist, IRDAI’s executive director Mr. Rao was a former RBI senior official and was appointed by IRDAI in 2011 in violation of appointment norms.

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

Read more »

Venkatramu takes charge as MD, CEO of India Post Payments Bank

Venkatramu has over two decades of experience across various domains in the banking sector. His expertise is in products, business management and strategy spanning liabilities, digital financial services, payments, cards, mobile banking, and wallets, the statement said.

from Banking/Finance-Industry-Economic Times https://ift.tt/38mCJmd

Read more »

CBoI ties up with NABFOUNDATION to provide loans to self-help groups

Our Bureau Central Bank of India (CBoI) and NABFOUNDATION, on Thursday, entered into a Memorandum of Understanding (MoU), whereby working capital will

from Business Line - Money & Banking https://ift.tt/2XiMPyi

Read more »

Bank advances rise in Q3, but asset quality still a concern

Advances by banks seem to be slowly on the rise as provisional data from the third quarter suggest. While asset quality continues to remain a concern,

from Business Line - Money & Banking https://ift.tt/39dtR1u

Read more »

The future of banking: Lessons from the DBS takeover

The credit-starved Indian market provides a opportunity for universal banks to explore and grow profitably.

from Banking/Finance-Industry-Economic Times https://ift.tt/2MKjVVX

Read more »

India's life insurance industry seek tax break on protection policies

The Life Insurance Council is lobbying for a lower rate of GST ahead of the union budget, from the current 18% to the 5% slab for protection-based services, arguing that it is not a luxury consumption item.

from Banking/Finance-Industry-Economic Times https://ift.tt/3oxqmt6

Read more »

Power Finance Corp’s ₹4,500-cr NCD issue to hit market on Jan 18

Power Finance Corporation (PFC) will hit the market on January 18 with a ₹4,500-crore non-convertible debenture (NCD) issue for retail investors.This

from Business Line - Money & Banking https://ift.tt/2XiHDdD

Read more »

Private banks report healthy deposit accretions, sluggish advances growth in Q3

Microlender-turned-universal bank Bandhan Bank was the only one which showed a surge in loan book, which grew 23 per cent on an annual basis to Rs 80,255 crore, while in case of IndusInd Bank and IDFC First Bank, the growth has been marginal.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Lv5OTO

Read more »

Piramal Cap ahead of Oaktree in race to buy DHFL

In a boost to Piramal Capital and Housing Finance Ltd’s bid for Dewan Housing and Finance Corporation Ltd (DHFL), the financial services company’s adm

from Business Line - Money & Banking https://ift.tt/3hQT9GS

Read more »

DBS Group expects December CPI inflation to ease sharply to 5%

Says monetary policy committee may stay on a long pause

from Business Line - Money & Banking https://ift.tt/2MEi70x

Read more »

RBI appoints advisory council for supervisory college

​​The CoS will be chaired by former RBI deputy governor NS Viswanathan while former RBI executive director Rabi Narayan Mishra has been appointed as a administrative head and non member director. Other members of the CoS are former HDFC Bank DMD Paresh Sukthankar, former SBI MD Arijit Basu, IIM Bangalore professor S Raghunath, IIM Ahmedabad professor Tathagata Bandyopadhyay and IGIDR professor Subrata Sarkar.

from Banking/Finance-Industry-Economic Times https://ift.tt/397OUCM

Read more »

RBI to fully operationalise College of Supervisors for effective supervision

Our Bureau The Reserve Bank of India (RBI), on Wednesday, said the College of Supervisors (CoS) is being fully operationalised for effective oversight

from Business Line - Money & Banking https://ift.tt/39cHvSO

Read more »

Bandhan Bank records 23% growth in Q3 advances

Bandhan Bank has registered a 23 per cent growth in advances at around ₹80,255 crore for the quarter ended December 31, 2020, compared to ₹65,456 cror

from Business Line - Money & Banking https://ift.tt/38h7A3y

Read more »

IDFC First Bank reports 41% rise in Q3 customer deposits

Our BureauIDFC First Bank reported a 41 per cent increase in customer deposits in the third quarter of the fiscal, with retail deposits surging by 100

from Business Line - Money & Banking https://ift.tt/3pU3jcy

Read more »

Canara Bank retains MCLR rates

Our Bureau Canara Bank, a Bengaluru-based public sector bank, has retained its marginal cost of funds-based lending rate (MCLR) on loans/advances acro

from Business Line - Money & Banking https://ift.tt/3hLmItl

Read more »

AUM of non-banks to revive 7-9% in FY22: ICRA

Our Bureau The assets under management (AUM) of non-banks would revive in FY22 to about 7-9 per cent vis-à-vis a flattish performance in the current f

from Business Line - Money & Banking https://ift.tt/38j138P

Read more »

IDFC First Bank records healthy deposit accretion, but credit growth remains flat

Out of this retail deposits a combination of current, saving accounts and term deposits increased to Rs 58,435 crore at the end of the December quarter versus Rs. 29,267 crore as on 31 December 2019, registering a 100% growth. This was Rs 49,610 crore at the end of the September quarter clocking a sequential growth of 18%.

from Banking/Finance-Industry-Economic Times https://ift.tt/3nn7qMm

Read more »

NBFCs may see 7-9% growth in AUM next fiscal: Icra

The segment's AUM had registered a growth at a CAGR of 16 per cent over the period March 2016-March 2020.

from Banking/Finance-Industry-Economic Times https://ift.tt/3nhh2bp

Read more »

Microfinance, trade finance, PE & housing finance almost at pre-Covid levels: ET-ILC members

As per industry players, the microfinance sector has bounced back from Covid-19 stronger than it had from any other previous crisis - Krishna Crisis (2006), Kolar crisis (2009), Andhra Pradesh crisis (2010) and demonetisation (2016). This has happened for multiple reasons.

from Banking/Finance-Industry-Economic Times https://ift.tt/3hMWDd8

Read more »

BoB signs MoU with SIDBI to enable MSMEs apply online for one-time restructuring

Our Bureau Bank of Baroda (BoB) has signed a memorandum of understanding (MOU) with the Small Industries Development Bank of India (SIDBI) to enable M

from Business Line - Money & Banking https://ift.tt/3ba9fdj

Read more »

PhonePe launches Term Life Insurance plans for users

PhonePe, India’s digital payments platform, today announced the launch of Term Life Insurance plans on its platform, in association with ICICI Prudent

from Business Line - Money & Banking https://ift.tt/3hKLaLr

Read more »

U GRO Capital sees disbursements at pre-Covid-19 level

Seeks patent for its score-card based underwriting model

from Business Line - Money & Banking https://ift.tt/2JUigfm

Read more »

Axis Bank ties up with Hyundai Motor India for auto retail financing

Axis Bank through this partnership will allow Hyundai Motor India Ltd (HMIL) customers to get auto loan sanctioned directly on the car maker's end-to-end online retail platform 'Click to Buy' (CTB), a release said.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Xgcdoo

Read more »

HC asks SBI to maintain status quo on accounts of Anil Ambani's firms RCom, Reliance Telecom, Infratel

Justice Prateek Jalan passed the order on a plea by erstwhile directors of the three companies challenging a 2016 circular of the Reserve Bank of India (RBI) regarding declaration of accounts as fraud by banks. According to the plea, the circular allows banks to declare an account as fraud without giving any prior notice or communication to the account holder against the principles of natural justice.

from Banking/Finance-Industry-Economic Times https://ift.tt/38iveN9

Read more »

Shivalik Bank receives commercial banking license

Becomes the first Urban Cooperative Bank in the country to make a transition into a SFB under the voluntary transition scheme

from Business Line - Money & Banking https://ift.tt/3ojUuIA

Read more »

Supreme Court to hear pleas against farm laws, issues related to farmers’ protest on January 11

The Supreme Court on Wednesday said it would hear on January 11 a batch of pleas challenging the new farm laws as also those raising issues related t

from Business Line - Money & Banking https://ift.tt/38ivDPP

Read more »

I-T refunds worth Rs 1.64 lakh crore issued to 1.41 crore taxpayers till January 4

This includes Personal income tax (PIT) refunds amounting to Rs 53,070 crore and corporate tax refunds of over Rs 1.10 lakh crore during this period.

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

Read more »

Private banks close gap with public sector banks on term deposit rates

As private banks gain share in the banking system’s deposit base, they have begun to close the gap with public sector banks (PSBs) in terms of how much they pay for deposits.

from Banking & Finance – The Financial Express https://ift.tt/3hJ9wFk

Read more »

New fee structure opens the doors wider for pension fund managers: PFRDA chief

‘Increased fees will ensure both profitability and investment in infra’

from Business Line - Money & Banking https://ift.tt/3olklzY

Read more »

Public sector banks may follow a uniform practice on employee accountability for bad loans

Indian Banks’ Association (IBA) has formed a committee under Canara Bank executive director MV Rao to look into the nuances of staff accountability. The panel will recommend steps that will be adopted by the lenders.

from Banking/Finance-Industry-Economic Times https://ift.tt/2XfuJwZ

Read more »

Shivalik Bank gets license as Small Finance Bank

Shivalik bank has over four lakh customers and a total business size of Rs 1,800 crore as on March 31, 2020. The total advances stood at Rs 719 crore.

from Banking/Finance-Industry-Economic Times https://ift.tt/3ogIdV7

Read more »

RBI fines Bajaj Finance for use of coercive means of recovery

The Reserve Bank of India (RBI) on Tuesday imposed a monetary penalty of Rs 2.50 crore on Bajaj Finance for using coercive methods of recovery from its borrowers, and violation of general guidelines and one specific direction issued by the regulator.

from Banking & Finance – The Financial Express https://ift.tt/3ngf0bQ

Read more »

RBI imposes penalty of ₹2.5 crore on Bajaj Finance

Our Bureau The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹2.50 crore on Bajaj Finance Ltd (BFL). The central bank, in a statement,

from Business Line - Money & Banking https://ift.tt/38fKRou

Read more »

RBI to introduce LEI for large-value transactions in RTGS/NEFT from April

The Reserve Bank of India (RBI) has decided to introduce the Legal Entity Identifier (LEI) system for all payment transactions of value ₹50 crore and

from Business Line - Money & Banking https://ift.tt/3rZfE10

Read more »

Reserve Bank of India imposes Rs 2.5 crore penalty on Bajaj Finance for violation of norms

After considering the company’s reply to the notice, oral submissions made during the personal hearing and examination of additional submissions made by it, RBI concluded that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty.

from Banking/Finance-Industry-Economic Times https://ift.tt/2LrKkqU

Read more »

Contributions to PIDF will be mandatory for banks, card networks: RBI

Our Bureau The Reserve Bank of India (RBI), on Tuesday, said contributions to the Payments Infrastructure Development Fund (PIDF) will be mandatory fo

from Business Line - Money & Banking https://ift.tt/3rV4OJ3

Read more »

Bandhan Bank to provide salary accounts for Indian Army personnel

Bandhan Bank has signed a Memorandum of Understanding with the Indian Army for Bandhan Bank Shaurya salary account.Services under the account will be

from Business Line - Money & Banking https://ift.tt/2JOSYza

Read more »

HDFC Bank registers double-digit growth in deposits and advances in Q3

Our BureauMumbai, January 5Private sector lender HDFC Bank reported double-digit growth in deposits and advances in the third quarter of the fiscal y

from Business Line - Money & Banking https://ift.tt/3okIqqk

Read more »

HDFC to raise up to ₹5,000 cr via NCDs

Our Bureau Housing Development Finance Corporation Ltd (HDFC) plansto raise up to ₹5,000 crore via private placement of secured redeemable non-convert

from Business Line - Money & Banking https://ift.tt/35buR5k

Read more »

Health insurance segment set to witness major winds of change

Thanks to Covid, 2020 was a transformative year for health cover

from Business Line - Money & Banking https://ift.tt/35bV9o1

Read more »

Private banks in Karnataka lead in NPAs

Poor disbursal of educational loan; banks directed to restructure loans in natural calamity affected districts

from Business Line - Money & Banking https://ift.tt/2MB3VFy

Read more »

‘Banking system may see double-digit credit growth in FY22’

Investment demand is also likely to pick up, says Union Bank CEO

from Business Line - Money & Banking https://ift.tt/3pL9KOM

Read more »

Lakshmi Vilas Bank, YES Bank lead NPA pile-up among private banks in Karnataka

NPAs of all banks in the State totals ₹57,070 crore

from Business Line - Money & Banking https://ift.tt/3nhwqVt

Read more »

IndusInd Bank reports 11% growth in Q3 deposits

Our BureauPrivate sector lender IndusInd Bank reported an 11 per cent growth in deposits in the third quarter of the fiscal compared to a year ago, th

from Business Line - Money & Banking https://ift.tt/3rUAazF

Read more »

HDFC sees ‘robust’ growth in individual loan disbursements

Housing Development Finance Corporation Ltd (HDFC) reported a 26 per cent increase in individual loan disbursements.“The individual loan business cont

from Business Line - Money & Banking https://ift.tt/3neE4zN

Read more »

IL&FS PMLA case: ED attaches Rs 452-cr worth assets of Singapore shell company

"The attached assets are in the form of 8.86 per cent shares of ILFS Tamil Nadu Power Company Limited (ITPCL) presently worth around Rs 452 crore," the central probe agency said in a statement.

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

Read more »

Kotak Securities launches start-up investment and engagement programme

Kotak Securities on Tuesday announced the launch of its maiden Start-up Investment and Engagement Programme. “Through this programme Kotak Securities

from Business Line - Money & Banking https://ift.tt/35cefu6

Read more »

Exim Bank raises $1 b via 10-year bond issue

Coupon of 2.25% a record low for any 10-year bond issuance from India; issue oversubscribed over 3.5 times

from Business Line - Money & Banking https://ift.tt/3njZrQe

Read more »

CMS Info Systems to set up 3,000 ATMs for SBI by March; to invest Rs 200 crore

"CMS has received mandate from SBI for a deployment of 3,000 ATMs. As a part of the term sheet, CMS will select the site, deploy ATMs, provide cash management services, regular maintenance, and upkeep of ATMs," CMS Info Systems President Manjunath Rao told .

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

Read more »

Edelweiss raises over ₹240 cr through NCD issue

Base issue as well as green shoe option fully subscribed

from Business Line - Money & Banking https://ift.tt/3njpB5E

Read more »

Yes Bank registers 1.3% quarterly growth in loans and advances

The current account and savings account (CASA) deposits grew 12.6% to Rs 37,973 crore, compared to Rs 33,713 crore in the September quarter.

from Banking & Finance – The Financial Express https://ift.tt/3rTgJai

Read more »

CSB Bank’s gold loan portfolio grows 60% in Q3

The gold loan portfolio of CSB Bank increased by 60.36% year-on-year during the third quarter to touch Rs 5,633.75 crore, the lender said in a regulatory filing.

from Banking & Finance – The Financial Express https://ift.tt/2X7OxlR

Read more »

HDFC's individual loan disbursements rise 26 pc in December quarter

"Disbursement growth over the corresponding quarter of the previous year was 26 per cent. For the nine months ended December 31, 2020, individual loan disbursements stood at 86 per cent of the levels in the corresponding period of the previous year," it said.

from Banking/Finance-Industry-Economic Times https://ift.tt/359ZXKu

Read more »

Implement security protocols to protect payments from cyber frauds: DGFT to exporters

In a trade advisory, the DGFT said Ministry of External Affairs has informed that email spoofing/phishing cyber frauds are causing increased bilateral trade disputes.

from Banking/Finance-Industry-Economic Times https://ift.tt/3b7fJJZ

Read more »

Ayushman Bharat crosses 1.5-cr mark in hospital admissions as non-Covid-19 treatments resume

With Covid cases on the decline and people resuming treatments for other ailments, Ayushman Bharat, the flagship health insurance scheme of the Centre

from Business Line - Money & Banking https://ift.tt/3oftFVM

Read more »

Chinese gang procured 2,000 SIM cards illegally

R Sivaraman The Chinese gang that was involved in operating online loan apps had also procured 2,000 SIM cards using fake Indian identity papers, sour

from Business Line - Money & Banking https://ift.tt/359V7g9

Read more »

Federal Bank’s gross advances rise 6% YoY in Q3

Federal Bank’s deposits grew 12% year-on-year during the third quarter of the current fiscal while gross advances reported a 6% year-on-year growth, the bank said in a regulatory filing.

from Banking & Finance – The Financial Express https://ift.tt/3of7NtF

Read more »

‘Will focus on refinancing well-rated corporates where cash flows are strong’

Indian Bank is looking at diversifying loan growth across sectors and geographies by targeting manufacturing, service and infrastructure companies with good rating.

from Banking & Finance – The Financial Express https://ift.tt/3ohviT8

Read more »

Infra credit growth tepid in H1 FY21: ICRA

Our Bureau The trajectory of total infrastructure credit in India (banks and infrastructure finance non-bank companies) slowed to 1 per cent sequentia

from Business Line - Money & Banking https://ift.tt/391heXg

Read more »

Banks pass on less than half of rate cuts signalled by the Reserve Bank of India since March

Despite the RBI signaling 115 basis point(one bps is 0.01%) reduction of its benchmark repo rate - the rate at which it lends to banks - since March 2020, weighted average lending rates have fallen by 40 bps and 50bps on outstanding and fresh loans respectively between April and November.

from Banking/Finance-Industry-Economic Times https://ift.tt/2X8u7t9

Read more »

Kapil Wadhawan reiterates offer of 100% principal repayment

Our Bureau With the clock ticking on the resolution of debt-ridden Dewan Housing Finance Corporation Ltd (DHFL), Kapil Wadhawan, former promoter, rei

from Business Line - Money & Banking https://ift.tt/2X6fp5Z

Read more »

Small finance banks with plans to floatIPO hope RBI will extend deadline to list

With business disrupted by Covid, SFBs have been working for the last few months to get back on track

from Business Line - Money & Banking https://ift.tt/3rTpPUI

Read more »

CSIR aims for the stratosphere with high-risk research

With more autonomy to units, eye on business, the organisation focused on industry-related research wants to contemporise itself

from Business Line - Money & Banking https://ift.tt/2Mlj6m0

Read more »

IDBI Bank launches Video KYC Account Opening facility to open Savings Bank Account

Our Bureau IDBI Bank has launched a Video KYC Account Opening (VAO) facility to open Savings Bank Accounts. Through VAO, a customer can open a savings

from Business Line - Money & Banking https://ift.tt/3pPklsm

Read more »

CRED raises $81 million in Series C round, initiates buyback worth ₹9 crore

The company processes 20 per cent of all credit card bill payments in India.

from Business Line - Money & Banking https://ift.tt/3ncycai

Read more »

Bank of Baroda launches WhatsApp banking services

The lender is offering services such as balance enquiry, mini statement, cheque status enquiry, cheque book request, blocking debit card and information on products and services, among others via WhatsApp, a release said.

from Banking/Finance-Industry-Economic Times https://ift.tt/3nbZfT9

Read more »

PFS approves resolution of IL&FS Tamil Nadu Power Company

As per RBI circular dated June 7, 2019 and directives of National Company Law Appellate Tribunal (NCLAT), following resolution has been approved by PFS in line with lead lender Punjab National Bank (PNB), the company said.

from Banking/Finance-Industry-Economic Times https://ift.tt/38VVXyh

Read more »

CSB Bank banks on gold loans to drive growth

‘Retail is driven mainly by gold loan growth. There’s been a growth of 47% in gold loans’

from Business Line - Money & Banking https://ift.tt/38dRJTD

Read more »

Federal Bank reports 12 per cent increase in total deposits

Gross advances up 6 per cent in Q3

from Business Line - Money & Banking https://ift.tt/2LiKHnz

Read more »

DHFL bids: Oaktree mulls legal action ‘seeing’ creditors’ ‘bias’ towards Piramal’s offer

Oaktree Capital is weighing legal action against the lenders of Dewan Housing Finance Corporation Ltd (DHFL) over the resolution process amid initial

from Business Line - Money & Banking https://ift.tt/3n9V3mT

Read more »

Digital payments soar in December 2020

With the continued upturn in economic activities as well as year end spends, digital payments registered robust growth in December across all channels

from Business Line - Money & Banking https://ift.tt/3o9gmGo

Read more »

RBI: Banks’ asset quality can deteriorate

The Reserve Bank of India’s Report on Trend and Progress of Banking in India in 2019-20 has cautioned that the asset quality of the banking system may

from Business Line - Money & Banking https://ift.tt/3n9FLOU

Read more »

DHFL resolution process in the last lap

The resolution of debt ridden Dewan Housing Finance Corporation Ltd (DHFL) now seems to be in its final stages with lenders having initiated the votin

from Business Line - Money & Banking https://ift.tt/3hHMFK7

Read more »

DFIs 2.0: Grappling with growing expectations

The “Terminator” was a super-efficient fighting machine till, afflicted by the ravages of continuous strife, it had to exit but departed with an omino

from Business Line - Money & Banking https://ift.tt/3rLVZRU

Read more »

Why RBI tightened current account norms?

In a bid to enforce credit discipline and check diversion of funds, the Reserve Bank of India in its August policy last year, put in place certain saf

from Business Line - Money & Banking https://ift.tt/3rOqwyv

Read more »

Bank credit records marginal growth: CARE report

The bank credit growth during the reporting fortnight ending December 18, 2020, is being supported by disbursements under the Emergency Credit Line Guarantee Scheme (ECLGS), which has been extended further till March 31, 2020, as per the CARE report.

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

Read more »

UPI ends 2020 on high note, scales past Rs 4-lakh-cr milestone in December; volume up 70% from year-ago

2.23 billion UPI transactions worth Rs 4.16 lakh crore were recorded in December, up from 2.21 billion transactions involving Rs 3.91 lakh crore in November.

from Banking & Finance – The Financial Express https://ift.tt/3hCyK8c

Read more »

Rate of decline in fresh lending and deposit rates slows down: Report

“While the overall lending rates have declined when we look at the headline rates, the transmission is probably slower when we look at various products or risk segments,” says a report by Kotak Securities.

from Business Line - Money & Banking https://ift.tt/3rNDkoP

Read more »

Ground seems ready for new options to resolve stressed assets: IBBI chief

The ground seems to be ready to experiment new options for resolution of stress and the market is anticipating a hybrid framework between a court-supe

from Business Line - Money & Banking https://ift.tt/3pKmCoE

Read more »

CAG writes to Finmin, seeks performance audit details of PSU banks recapitalisation

CAG is doing performance audit on recapitalisation of PSBs after 2016-17 and it has written a letter to the Department of Financial Services, Ministry of Finance, seeking various information, including rationale for distribution of capital among different PSBs, sources said.

from Banking/Finance-Industry-Economic Times https://ift.tt/3b4fLlx

Read more »