PhonePe partners with Axis Bank on UPI multi-bank model

PhonePe will acquire merchants with Axis Bank in addition to its partnership with YES Bank

from Business Line - Money & Banking https://ift.tt/39Wtav2

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Capital support for Indian govt banks to determine loan growth: Fitch

Fitch said it expects a moderately worse operating environment for the Indian banking sector in 2021, anchored to its belief that the banks' prospects for new business and revenue generation are likely to remain muted.

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

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PNB convenes EGM to elect a 2nd shareholder director to its Board

Action after Fin Min allows PSBs to act on decisions held up at Committee levels

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

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PNB expects Rs 3,800 cr recovery from Bhushan Power resolution; sees good amount from DHFL too

Sticking to the bank's previous guidance on restricting the gross NPAs below 14 per cent and net NPAs lower than 5 per cent by the end of the current fiscal, Rao said there has been an improvement in collection efficiency as well in January after a dampened December.

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

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View: Sell the best public sector banks; bids can be foreign

All bidders will be required to have large balance sheets to ensure sufficient capital for banking. Many industrial houses have capital aplenty. But till now the government has, quite correctly, not allowed industrial houses to own banks, because of a patent conflict of interest.

from Banking/Finance-Industry-Economic Times https://ift.tt/2N0qHH2

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