Dismissing rumours, both the government and the Reserve Bank today said there was no question of closure of any public sector bank.
Mumbai-based Bank of India will shut down 400 ATMs in its cost-cutting drive and may take a decision on shutting 300 more ATMs by the end of February.
Union Finance Minister Arun Jaitley, on Thursday, assured the Lok Sabha that money of all depositors in public sector banks will be protected and there is no need to create any fear psychosis.
The Reserve Bank has said gross non-performing assets in the system shot up to 10.2 per cent as of the September quarter, primarily led by private sector lenders, and has warned that the situation will only aggravate from there, “elevating” the systemic risks.
FM Arun Jaitley today cautioned those creating fear psychosis over the much-debated FRDI Bill and said that the government is committed to protecting every depositor.
Share of households in bank deposits has increased by nearly two percentage points to 63.5 in FY17 thanks to the note-ban-driven spurt in saving deposits by individuals.
The Reserve Bank of India has put Bank of India under watch for high bad loans by initiating Prompt Corrective Action (PCA) against it. But there are nine other banks against which PCA has been initiated. We also explain what Prompt Corrective Action is.
The Reserve Bank of India’s policy rates are likely to remain unchanged in 2018 despite higher inflation, a recovering growth and elevated oil prices, says a Nomura report.
It’s the trust of the depositor in the bank that should play pre-eminence over the other factors. The government can also look at an alternative to exclude bank deposits from the bail-in provision in the bill.
State-run United Bank of India on Wednesday said the Reserve Bank of India has prescribed certain “additional actions” under the Prompt Corrective Action (PCA) framework against it over its high net non-performing asset (NPA), low leverage ratio and capital needs.
The RBI had clarified that the PCA framework is not intended to constrain normal operations of the banks or services to the general public.
The CLSS was introduced in June 2015 by the ministry of housing & urban poverty alleviation, to enable people from the economically weaker section (EWS) and low income group (LIG) to own houses.
The Reserve Bank of India has put Bank of India under watch for high bad loans by initiating prompt corrective action against it.
An inflation rate that’s breached India’s target and growth that continues below potential will probably prompt the central bank to keep interest rates unchanged through the coming year.
HDFC Bank’s Artificial Intelligence (AI)-based chatbot ‘Eva’ will now work with Google Assistant on millions of Android devices, the company announced on Wednesday.
From a tepid start in August 2016, the Unified Payments Interface (UPI) has raced on through 2017 to cross the 100-million transactions mark in November, overtaking Immediate Payment Service (IMPS), till recently the preferred mode of peer-to-peer (P2P) transactions.
Interim funds for keeping the operations of stressed assets going has been a challenge for resolution professionals, who are in charge of the accounts.
ATM/Debit card complaints comprised 12.5 per cent of complaints received while that of credit card accounted for 6.4 per cent. The Banking Ombudsman Scheme aims to provide a quick and cost free resolution mechanism for complaints relating to deficiency of banking services.
Yes Bank and the European Investment Bank will co-finance $400 million funding for renewable power generation in the country.
Capital raising by a number of public sector banks (PSBs), including PNB and UBI, is credit positive because it will help improve their loss-absorbing buffers, global rating agency Moody’s said today.
A section of bank unions have given a strike call for December 27 for early implementation of wage revision for IDBI Bank employees which has been due since 2012.
In a pre-budget consultation with the Ministry of Finance, banking and financial institutions made several requests to the government. Here they go.
he controversial Financial Resolution and Deposit Insurance (FRDI) Bill, which was officially listed for the Winter Session of the Parliament, may not be introduced in Parliament even during the Budget Session.
The government should bring down its stake in public sector banks (PSBs) to 33 per cent in the next three years as it plans to recapitalise banks to strengthen NPA-hit lenders, industry body CII said.
Not all banks will be eligible for capital support of the government this fiscal, but those who have performed relatively better and need capital most will be considered for fund infusion, sources said.
The Centre is estimated to reimburse Rs 1,050 crore to banks in FY19 and Rs 1,462 crore in FY20 towards MDR subsidy.
The State Bank of India and the Carlyle Group today announced that they have completed the acquisition of GE Capital Group’s entire stake in SBI Card, the second-largest and fast-growing credit card franchise in India.