Banking & Finance News
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Banks have no liability for loss of valuables in lockers: RBI
PTI | June 25, 2017 2:15 PMDo not expect any compensation for theft or burglary of valuables in safe deposit boxes of public sector banks as the locker hiring agreement absolves them of all liability.
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SBI chairman Arundhati Bhattacharya’s salary zilch compared to counterparts in private banks
PTI | June 25, 2017 12:07 PMSBI, one of the world’s 50 largest banks, pays only a small fraction to its top management as compared to private sector players like ICICI Bank and HDFC Bank.
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Asian Development Bank okays $102 million loan to skill 2 lakh youths in Odisha
PTI | June 23, 2017 9:29 PMAsian Development Bank (ADB) has approved a USD 102 million (Rs 568.31 crore) loan to train 2 lakh youngsters in Odisha.
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India’s forex reserves at record high of $381.955 billion
PTI | June 23, 2017 7:24 PMThe country’s forex reserves increased by USD 799 million, mainly on account of rise in foreign currency assets (FCAs), to touch a record high of USD 381.955 billion in the week to June 16, RBI said.
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RERA: New rules to make realty free of undesirable activity, says HDFC chairman Deepak Parekh
PTI | June 23, 2017 6:23 PMHDFC Chairman Deepak Parekh today termed government policies on housing as practical and implementable and expressed hope that new regulations will stop “undesirable activity” practiced by some realtors.
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HDFC Bank to organise GST workshops across India
ANI | June 23, 2017 3:28 PMHDFC Bank Ltd will be organising awareness workshops to educate traders, merchants, and businessmen on the forthcoming Goods and Services Tax (GST) Bill.
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How to file your income tax returns correctly; from linking PAN to Aadhaar, collecting documents, all you need to know
Homi Mistry | June 23, 2017 2:30 AMThe deadline (July 31) for filing income tax returns for individuals for financial year 2016-2017 (not covered under tax audit) is fast approaching.
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Car insurance: Does your car have adequate monsoon cover?
June 23, 2017 2:21 AMWhether it is a breakdown due to being stranded on a flooded street or rusting of exposed metallic car parts, monsoons can create havoc for you and your car. Your general car insurance does cover accident damages but a lot of monsoon-specific car damages like the ones brought on by conditions like hydrostatic lock aren’t […]
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RBI expands oversight committee; inducts 3 member on panel
PTI | June 22, 2017 6:40 PMThe Reserve Bank has expanded the oversight committee by appointing three more members to the high-level panel that will vet the process to resolve mounting bad loans bogging down the banking sector.
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Online banking users in India to reach 150 million by 2020 according to a Study
ANI | June 22, 2017 7:09 PMWith the ongoing digital drive in India, the number of users opting for online banking is expected to double to reach 150 million mark by 2020, from the current 45 million active urban online banking users in India
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Here is what will affect banks returns to assets ratio, sustained income
guest and Pravakar Sahoo | June 22, 2017 3:43 AMBanking sector is the backbone of India’s financial sector—it generates two-thirds of household savings and provides over 90% commercial credit.
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HDFC Bank’s Aditya Puri exercises Rs 57 crore stock options in FY17
PTI | June 22, 2017 12:39 AMHDFC Bank’s Managing Director Aditya Puri saw his remuneration rise marginally to Rs 10 crore and exercised stock options worth over Rs 57 crore during the last fiscal.
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Asian central banks have cause to keep holding rates while the Federal hikes
Reuters | June 21, 2017 11:55 AMAsian central banks have not blinked since the Federal Reserve raised U.S. rates for the third time in six months last week.
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Mutual funds: The dos and do nots of investing in ELSS; 6 power points
P Saravanan | June 21, 2017 3:10 AMEquity-linked savings scheme (ELSS) is an asset class where investors can get equity-like returns with tax saving benefits.
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Motor insurance policy no claim bonus; here is how to get the greatest benefit
June 21, 2017 2:57 AMA motor insurance policy lasts for a year, and if you do not make any claim during the period, you are rewarded with No Claim Bonus (NCB) by the insurance company at the time of renewal.
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Startup Stayabode offers higher rental yield to property owners
Hita Gupta | June 21, 2017 2:43 AMWhen we have started sharing cabs and workspaces as a cheaper and more efficient option, why can’t we do the same with residential spaces? The acceptance of a shared economy around the world was the driving thought when StayAbode started operations in August 2016 with the idea of building hostels for short-term accommodation requirement. It […]
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Paytm seeks RBI licence to start money market fund
PTI | June 20, 2017 8:00 PMPaytm has applied for a licence to set up a money market mutual fund that will enable the company to expand its financial offerings to consumers.
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Qatar sovereign fund deposited dollars in local banks as precaution: Bankers
Reuters | June 20, 2017 6:38 PMQatar’s sovereign wealth fund made U.S. dollar deposits in some local banks last week as a precaution after Saudi Arabia and other Gulf states cut diplomatic and transport ties with Doha, Qatari commercial bankers said.
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ADB to provide $275 mn loan for water supply project in Madhya Pradesh
PTI | June 20, 2017 3:17 PMAsian Development Bank will provide $275 million loan for a piped water supply project for rapidly urbanising small towns, covering 3 lakh households, in Madhya Pradesh.
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Your mutual fund investment tax efficient? Here are 3 steps to ensure utmost efficiency for your portfolio
June 20, 2017 4:17 AMEnsuring that your mutual fund portfolio has the utmost tax efficiency is essential. Fund taxation depends on the nature of the fund and holding period. But decide your investments on merit, then look for tax efficiency, if available.
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Lenders meet to chart action plan for 12 large NPA accounts
PTI | June 19, 2017 9:26 PMLenders today began meeting to initiate proceedings against 12 stressed accounts identified by the Reserve Bank to be referred under the Insolvency and Bankruptcy Code (IBC), sources said.
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NPA resolution: PMO takes stock of progress
PTI | June 19, 2017 7:46 PMThe PMO today held a stock-taking meeting with officials of the ministries of finance and corporate affairs to review the progress in the resolution of NPAs.
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RBI move on insolvency proceedings credit positive: Moody’s
PTI | June 19, 2017 7:26 PMMoody’s Investors Service today said the initiation of insolvency proceedings on 12 large loan defaulters is credit positive for Indian banks as it will improve their overall asset quality.
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Bankers to meet from Monday to decide on large defaulters
PTI | June 18, 2017 3:48 PMBankers are meeting from Monday to finalise their next course of action on six of the 12 bad loan accounts for immediate referral to NCLT after the RBI named the largest defaulters to face bankruptcy proceedings.
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SBI may look at IPO of general insurance business next fiscal
PTI | June 18, 2017 1:12 PMState Bank of India has said it may look at taking the general insurance business public next fiscal, ruling out any such move in 2017-18.
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RBI initiates PCA against Bank of Maharashtra as NPA mounts
PTI | June 17, 2017 7:08 PMThe Reserve Bank has initiated Prompt Corrective Action (PCA) against Pune-based Bank of Maharashtra (BoM) in view of high level of bad loans and negative return on assets.
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No timeline for identification of additional defaulters: RBI’s S S Mundra
PTI | June 16, 2017 9:05 PMRBI Deputy Governor S S Mundra today ruled out coming out with next batch of loan defaulters against whom insolvency proceedings will be initiated.
Horoscope: By Peter Vidal
SAGITTARIUS Your creative energy should now be at a peak, but not perhaps because the stars are all on your side. On the contrary, challenging romantic stars remind us of the cliché that all great art stems from… read more
