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Around 52 per cent of the total projected credit potential is estimated for the agriculture and allied activities, and a 36 per cent share for the MSME sector, according to a report - State Focus Paper for 2022-23- released by the rural development bank recently.
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Prabhu said nationalism is not new and that Visa has seen many countries in Europe creating their own domestic schemes in the 1960s and 1970s when Visa was expanding in the continent
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While the CBI is probing a case of corruption and misuse of office, the Enforcement Directorate (ED) is investigating a money laundering case in an alleged case of fraud caused to YBL by Kapoor, DHFL promoters, Kapil and Dheeraj Wadhawan and others.
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The bank has received an intimation from the RBI on December 9, 2021, that it has granted its approval to Life Insurance Corporation (LIC), shareholder of the bank to acquire up to 9.99 per cent of the total issued and paid up capital of the bank, the bank said in a regulatory filing on stock exchanges.
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Banks have managed asset quality well with slippages and restructuring under control.
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MeitY & Railway Minister Ashwini Vaishnaw and MoS, IT & Skill Development Rajeev Chandrasekhar presented the award to bank’s General Manager Raja BS and Deputy GM Jagadeesh KS in Delhi, the bank said in a statement.
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Paytm Payments Bank, a niche bank that cannot lend on its own, had more than 64 million savings accounts and over 52 billion Indian rupees ($688.5 million) deposits, including savings accounts, current accounts and fixed deposits with partner banks at the end of March this year.
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"Sandeep Kumar Sultania has ceased to be the chief financial officer of the company with effect from close of business hours of December 7, 2021, to take up a new role within the company," Srei said in a regulatory filing.
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Portfolio review and rebalancing entails looking at the composition of your current portfolio and then assessing whether the investments in your portfolio match your risk profile and are capable of helping you meet your financial requirements, in the time period that you desire.
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Users can simply search for flight options after entering their details and discover the applicable offers, which come at a considerable discount in addition to the already existing offers being offered by Paytm and other banking service providers.
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Punters on Dalal Street have highlighted various “technical” reasons for the underperformance, including extant overweight positions of institutional investors and selling by foreign portfolio investors (FPIs). In fact, bank stocks constitute the largest holding for FPIs and recently they have been selling loads of it.
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In a recently concluded Analyst Day event, ICICI Bank’s management showcased its industry-first digital offerings for retail and SME/corporate customers, reinforcing its journey to become a full-scale “BankTech” from a traditional bank.
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The Mumbai bench of the National Company Law Tribunal (NCLT) dismissed a plea filed by the Resolution Professional of RTIL to declare business transactions to the tune of ₹1019.48 crore 'fraudulent'.
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The deal, which could be an all-cash transaction, will likely value assets at less than $2 billion. IndusInd Bank is said to be out of the race.
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The restrictions, imposed through directions under the Banking Regulation Act (as applicable to co-operative societies), 1949, shall remain in force for a period of six months from the close of business on December 6, 2021 and are subject to review, the Reserve Bank said in a statement.
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Under Emergency Credit Line Guarantee Scheme (ECLGS) which was backed by 100 per cent guarantee of the central government, banks and non-banking financial companies (NBFCs) have sanctioned loans amounting to Rs 2.97 lakh crore as on 26 November 2021, as per the reply.
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The company is the third NBFC to go for resolution under the IBC after Dewan Housing Finance (DHFL) and Kolkata-based Srei Group.
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Mutual funds are governed by strict laws of SEBI and other government machinery keeping the system under various checks. Direct equity investing requires the investor to comply with those regulations.
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"The rate of GST is decided on the recommendations of the GST Council, which is a constitutional body comprising members from the central government and state governments. At present, no recommendation to reduce the GST rate on health insurance premium is under consideration of the GST Council," Minister of State for Finance Bhagwat K Karad said.
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Before that Ravi Kadam, senior advocate, appearing for the RBI informed the Mumbai bench of the National Company Law Tribunal (NCLT) that under the IBC, only the regulator has the power to initiate CIRP against financial services providers.
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Stakeholders, including regulators, have made their representations to a panel of federal lawmakers and the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 is likely to become law soon.
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The Kerala-based lender sold the loan after the road asset's owner, IL&FS Transportation Network (ITNL), failed to close a deal it signed almost a year ago with I Square Capital-backed Cube Highway to sell CNTL.
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The view in the government is that crypto cannot be permitted as a currency, but stringent regulation can be put in place to allow them to be held as assets.
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Instead the Reserve Bank may choose to raise the reverse repo rate in between policy meetings. A research report by the economists at the State Bank of India says that since the essential mandate of the MPC is to set policy rates to achieve an inflation target and not for liquidity management, RBI need not revise the reverse repo rates only during MPC meetings. "
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Speaking at the concluding day of the week-long AzadiKaAmritMahotsav organised by the ministry of electronics and IT, Vaishnaw said that firms have instruments such as Aadhaar, UPI, mobile, digiLocker etc at their disposal, and they should come up with proof of concepts in the next three months.
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The building blocks required to create such a platform are already available, given the strong ecosystem of Aadhaar, mobile phones, UPI platform and digilocker, he said asking the banking industry to come up with innovative idea and solutions in three months.
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With fund based outstanding of Rs 3,815.04 crore and non-fund based outstanding of Rs 286.83 crore, company's total loan dues towards SBI stands at Rs 4,101.87 crore as on date, as per SBI. The country's largest lender has set a reserve price of Rs 1,423.17 crore for selling this non-performing asset (NPA).
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