Finance Ministry issues uniform norms for accountability to protect bonafide decision of bankers

​​Stressing that the new guidelines will surely boost the morale of the PSBs employees immensely, it said banks will have to complete staff accountability exercise within six months from the date of classification of the account as NPA.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Y521mK

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60 per cent of Indian shoppers used digital payments multiple times each week during festive season: Report

Concerns over digital payments fraud have decreased

from Business Line - Money & Banking https://ift.tt/3CBkc2k

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Stressed PMC Bank customers not to get Rs 5 lakh deposit cover in first lot: RBI

The Reserve Bank of India (RBI) had imposed restrictions on the withdrawal of deposits from these stressed banks. Of the 20 banks, 10 are from Maharashtra, five from Karnataka, and one each from Uttar Pradesh, Kerala, Rajasthan, Madhya Pradesh, and Punjab.

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

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Indian Bank reports ₹266.73 crore worth of fraud to RBI

Nature of fraud for all three accounts has been specified as “Diversion of funds”

from Business Line - Money & Banking https://ift.tt/3w2jQz6

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Confident that NPAs will reduce ‘substantially’ in next few months: Bandhan Bank

The bank on Friday reported a whopping net loss of Rs 3,008.59 crore for the second quarter on the back of Rs 5,577.92 crore provisions as the lender saw a huge surge in bad loans.

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

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