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    1. Business News
    2. Authors
    3. shritama bose

    Shritama Bose

    Banks Board Bureau offered mixed results, task cut out for new body

    The Banks Board Bureau, the head-hunter for key executive positions at state-run banks and financial institutions that is set to…

    By Shritama Bose
    Updated: July 2, 2022 11:46 IST
    The benchmarking exercise undertaken with respect to the position in 2020 revealed that there is a need to enhance the spread of ATMs and point of sale (POS) terminals. 
    Report on benchmarking payment systems released: Payments acceptance infra must be improved, says RBI

    The benchmarking exercise reveals that there is a need to enhance the spread of ATMs and PoS terminals

    By Shritama Bose
    July 2, 2022 00:29 IST
    A recent analysis by Worldline found that during the quarter ended March 2022, credit cards accounted for 7% of transactions by volume, but 26% by value, indicating that customers still prefer to use their credit cards for large-ticket transactions. 
    UPI transactions shrink marginally in June vis-a-vis May

    The volume of UPI transactions fell to 5.86 billion in June from 5.96 billion in May, and the value of…

    By Shritama Bose
    July 2, 2022 00:00 IST
    Regulators and supervisors across the world highlight three major concerns around the presence of BigTechs in financial services. These concerns are with respect to financial stability, governance and legislative issues. 
    Regulators must be mindful of BigTech interlinkages with financial institutions: Financial Stability Report

    Their rising operational interconnectedness with financial incumbents through outsourcing partnerships also enhances risks to financial stability.

    By Shritama Bose
    July 1, 2022 00:30 IST
    PNB is offering the non-performing asset (NPA) account on an all-cash basis. The reserve price has been set at Rs 20 crore, and a sale at the reserve price would imply a haircut of 60% on the outstanding amount.
    PNB seeks buyers for Burnpur Cement exposure, UV Asset Reconstruction Company in race

    The bank remains the only lender with an exposure to the Asansol-based cement manufacturer after State Bank of India (SBI)…

    By Shritama Bose
    July 1, 2022 00:15 IST
    “Furthermore, cryptocurrencies can lead to disintermediation from the formal financial system, impairing financial stability,” the RBI said.
    Cryptocurrency a clear danger, says RBI Governor Das; calls it ‘make believe’, and other names

    These are akin to money market funds and face similar redemption risks and investor runs because they are backed by…

    By Shritama Bose
    Updated: June 30, 2022 17:31 IST
    The National Asset Reconstruction Company (NARCL) has written to the Reserve Bank of India (RBI) to consider its bid for loans of Rainbow Papers as a mark of operationalisation of the bad bank, people aware of the matter told FE.
    NARCL seeks to avert licence renewal with bid for one account

    Banks are required to run Swiss challenge auctions while selling bad loans to ARCs. In NARCL’s case, the bids submitted…

    By Shritama Bose
    June 30, 2022 01:30 IST
    PSBs seek relief on provisioning for treasury losses in Q1FY23

    Lenders have approached RBI officials on a one-on-one basis over the last few days.

    By Shritama Bose
    June 29, 2022 02:45 IST
    creditcards use
    Post prepaid ban, NBFCs, fintech may bank on credit cards

    New-age players have their doubts about how comfortable the regulator will be in letting them enter the credit card market.

    By Tushar Goenka
    June 28, 2022 06:00 IST
    MichaelS cropped
    Infrastructure push, PLI to drive up working capital demand in India: Standard Chartered Bank’s Michael Spiegel

    We have seen less of an impact of this war-related supply chain disruption than we have from the general supply…

    By Shritama Bose
    June 28, 2022 02:15 IST
    An email seeking the RBI’s response on this remained unanswered till the time of going to press.
    PPI Norms: Fintech lenders may seek staggered transition to new wallet loading norm

    One of the banks which has been growing its customer base in India using prepaid card-linked credit lines is yet…

    By Shritama Bose
    June 24, 2022 03:45 IST
    According to Patra, in June, the excise duty cuts on petrol and diesel will have kicked in strongly and knocked off 20 basis points (bps) from headline inflation. Thereafter, other measures will work like second order effects to soften core inflation at the margin. 
    Inflation should fall to 4% in FY24: RBI deputy governor Michael Patra

    Inflation measured by the consumer price index (CPI) eased to 7.04% in May from 7.79% in April.

    By Shritama Bose
    June 23, 2022 01:45 IST
    On Wednesday, Khara said SBI will focus on customer outreach through its physical branches as well as digital channels.
    State Bank of India taking steps to counter impact of HDFC-HDFC Bank merger: SBI chairman Dinesh Khara

    “SBI is the largest home loan provider in the country. Our home loan market share stands at 35.3% and we…

    By Shritama Bose
    June 23, 2022 00:45 IST
    The embargo on card issuances was lifted in August 2021, and the bank was allowed to go ahead with fresh digital launches in March 2022.
    HDFC Bank made substantial strides in technology during FY22: Jagdishan

    Jagdishan said that at the foundational level, HDFC Bank has shifted its primary data centres to brand-new facilities in Mumbai…

    By Shritama Bose
    Updated: June 21, 2022 18:52 IST
    The deadline on hitting pause on capitalisation of unpaid charges, levies or taxes for charging or compounding of interest also stands deferred by three months.
    RBI extends deadline for complying with consent norms for credit cards

    If no consent is received for activating the card, issuers must close the credit card account without any cost to…

    By Shritama Bose
    June 21, 2022 18:47 IST
    They pay a fee to the lender and earn a 1.5% interchange each time the customer makes a transaction using the credit line. This model is set to be hit by the latest circular.
    Industry seeks clarity on RBI norm barring loading of wallets with credit lines

    It is not clear if the guideline is meant to prevent lending by PPI issuers, which is anyway illegal, or…

    By Shritama Bose
    June 21, 2022 17:47 IST
    It acknowledges that providing digital payment services entail costs, which are borne by one or more of the payment system participants  as switching fees, interchange fees and so on, or are passed on to the merchant as MDR or to the customer. 
    Release of payments vision document for 2025 brings focus back to MDR

    Analysts at Emkay Global Financial Services said in a report on Monday that this review could result in relatively higher…

    By Shritama Bose
    June 20, 2022 17:37 IST
    SBI Jio payments bank
    A year on, key post for SBI official still vacant at Jio Payments Bank

    In FY21, Jio Payments Bank posted a net loss of Rs 90 crore against a net profit of Rs 50…

    By Shritama Bose
    June 20, 2022 04:15 IST
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    Rich Dad Poor Dad author Robert Kiyosaki says ‘biggest crash in history starting’, lists assets to survive market fallout

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