Top bankers and businessmen raised a toast to the industry’s success stories at the FE Best Banks Awards, 2017
The government will hold deliberations with the Reserve Bank to work out a mechanism for bringing down merchant discount rates (MDR) which have increased from 0.25 per cent of transaction value to 0.90 per cent recently, a finance ministry official said.
South Korea today banned its financial institutions from dealing in virtual currencies such as Bitcoin, as the cryptocurrency soars in a bubble fuelled by retail speculators, many of them from the country.
More than a year after the note ban, Cash in Transit (CIT) companies are waiting for payment of about Rs 25 crore from banks for their additional services rendered during the period, CLA said today.
Six days ago, when citizens of India had already received enough scary messages as to how their bank deposits were in danger due to the FRDI Bill, the Finance Ministry swung into action but with unconvincing and inadequate assurance
With the RBI’s deadline ending today to resolve the 28 large stressed accounts that the regulator had identified on its second list, banks are set to refer as many as 23 of them for insolvency proceedings.
With the RBI’s deadline ending today to resolve the 28 large stressed accounts that the regulator had identified on its second list, banks are set to refer as many as 23 of them for insolvency proceedings. In August, the Reserve Bank had asked banks to either resolve the 28 more large stressed accounts by December […]
State-run lender Punjab National Bank launched a Rs 5,000-crore fund-raising programme late on Monday evening through qualified institutional placement (QIP) of shares at a likely price of Rs 168 per share in a move that will shore up the bank’s capital adequacy ratio.
Senior bankers will meet officials of the Insolvency and Bankruptcy Board of India (IBBI), including its chairman MS Sahoo, on December 14 to express their discomfort over sharing loan agreements and other confidential client-related documents with the information utility (IU) set up under the Insolvency and Bankruptcy Code (IBC), sources told FE.
The Reserve Bank of India (RBI) on Tuesday announced the hike in foreign portfolio investors’ (FPIs) investment limits in central government securities (G-Secs) by Rs 6,400 crore beginning January 1, taking the total limit to Rs 2.56 lakh crore.
ICICI Bank, the country’s second-largest private sector lender by assets, has reduced the interest rate on one-year deposits by 15 basis points (bps) to 6.6% per annum.
Public sector lender Punjab National Bank (PNB) today said it has raised Rs 5,000 crore through qualified institutional placement (QIP) to fund expansion plan.
All India Bank Employees Association (AIBEA) has threatened to go on strike if FRDI Bill is not amended to safeguard interest of depositors even as the government has assured that it will protect rights of customers.
With just a day left for the December 13 RBI deadline to resolve the 28 large stressed accounts that the regulator had identified in its second list, banks are set to refer as many as 23 of them for insolvency proceedings.
The latest to oppose the bill is All India Bank Employees Association (AIBEA) that has planned a strike if the Centre proceeds on the proposed legislation.
The depositors in India have been offered Rs 1 lakh of insurance for decades. It shows that the Indian Banking system has traditionally been fairly supportive of the depositors.
“Do not use innocent depositors’ money to bail in mismanaged banks #NoBailIn” — had attracted almost 103,357 signatures by Tuesday morning and the number is still counting.
Having failed to come up with resolution plans for most of the 28 stressed companies on the Reserve Bank of India’s (RBI) second list, bankers are understood to have asked the central bank for a little more time to resolve a few of them.
The emeritus fellow at Oxford also called for quick privatisation saying “there is clear evidence that the performance of public sector banks is substandard. Radical reform is thus imperative, and in this context, quick privatisation surely has a major role to play.”
Finance Minister Arun Jaitley once again assured depositors over the controversial proposed Financial Resolution and Deposit Insurance (FRDI) Bill and said that the government is committed to safeguarding depositors’ money.
The FRDI Bill is far more depositor friendly than many other jurisdictions, which provide for statutory bail-in, where consent of creditors or depositors is not required for bail-in.
SBI raising its bulk rates signals a normalising macro. Interest rates can only head higher from here, even though policy rates don’t immediately.
Post the merger of its five associates, State Bank of India has changed names and IFSC codes of nearly 1,300 of its branches. The country’s largest lender has changed the names and IFSC codes of branches located in major cities such as Mumbai, New Delhi, Bengaluru, Chennai, Hyderabad, Kolkata and Lucknow, among others.
Financing of infrastructure projects would be facilitated by the government wherever banks are not able to fund the total requirements, Nitin Gadkari, Union minister for road transport and highways, said on Saturday.
FE Best Banks Awards 2015-16: Check full list of winners here.
Analysts today said the Reserve Bank move to reduce merchant discount rate (MDR) on debit cards is negative for acquiring banks like HDFC Bank and Axis Bank in the short-term as the surge in volumes is unlikely to make up for the losses.
The government has engaged private lender ICICI Bank to enable online payments at 470 mandis integrated with national portal of electronic National Agriculture Market (e-NAM), a senior Agriculture Ministry official said today.