Banking & Finance
Relief to bankers! Genuine business decisions won’t be questioned, says PM Modi
Before any action, scrutiny by serving finance or banking expert to be conducted.
RBI to retain dovish bias going forward, says DBS report
After five consecutive cuts in interest rates this year, the six-member Monetary Policy Committee (MPC), headed by RBI Governor Shaktikanta Das, unanimously voted to hold the key repo rate at 5.15 per
After PMC Bank scam, RBI to tighten norms for urban co-op banks
RBI then came down heavily on the bank for the fraud, and imposed curbs including capping withdrawals at Rs 1,000, which was later enhanced to Rs 50,000 allowing over 78% of the customers to withdraw
Payments banks with 5-year experience can now convert to small finance banks
In August, FE had reported that PBs have requested RBI to allow them to lend money to their customers.
RBI looking into reasons for digital banking outage at HDFC Bank
Responding to a query on whether RBI would come up with a framework to penalise banks for poor service, RBI deputy governor MK Jain said RBI was cognisant of the problem that happened on December 2 an
Banks lending more to NBFCs; not to let any big one to fall: RBI
The NBFC sector has been in liquidity crisis since the collapse of IL&FS in September 2018. The governor said the central bank is making a deep dive into the books of the top 50 NBFCs and has gained a
Corporate lending witnessing lack of demand: SBI
On bank frauds, he said SBI would make its 58,000-odd ATMs chip-enabled by the end of the current fiscal.
Fitch Ratings says Indian banks to write off more loans
Credit costs for the sector came down further from 3.2 per cent of loans at 2018-19 to 2.1 per cent by the first half of 2019-20, but income buffers of state-owned banks remain weak relative to credit
RBI proposes to bring cooperative banks with assets over Rs 500 cr under CRILC
The RBI has created a Central Repository of Information on Large Credits (CRILC) of scheduled commercial banks, all-India financial institutions and certain non-banking financial companies with multip
Paytm, Airtel Payments Banks may become full-fledged commercial banks; RBI revises guidelines
The other major revision is that the licensing window will be open on-tap, which will allow applicants to approach the banking regulator on an ongoing basis.
RBI hikes aggregate lending limit to Rs 50 lakh for P2P lenders
At present, the aggregate limits for both borrowers and lenders across all P2P platforms stand at Rs 10 lakh, whereas exposure of a single lender to a single borrower is capped at Rs 50,000 across all
RBI governor Shaktikanta Das says forensic audit on PMC scam expected by month-end
The RBI has also given its suggestions on changes in regulations that are required for regulating the cooperative bank sector better.
Consumer will choose how they want to pay: Rajesh Mehta, MD, trade and treasury solutions, Citi | Interview
If you look at the kind of technologies that we know and love, such as blockchain, cloud, mobility and the internet, they have led to four changes. First, our clients’ businesses are getting disrupt
Post merger of Syndicate Bank, Canara Bank turnover will be Rs 15 lakh crore: Chairman
Canara Bank Chairman T N Manoharan said his bank was having a business of Rs.10 lakh crore and the Syndicate Bank Rs.five lakh crore.
Nirav Modi’s PNB scam gets bigger: Fraudlent LoUs worth this much more discovered
The 329-page forensic report of BDO was handed by a whistleblower to the International Consortium of Investigative Journalists (ICIJ) which has partnered with The Indian Express for a series of report
If RBI cuts rate by 25 basis points, repo to be lowest in almost 10 years
Lakshmi Iyer, chief investment officer (debt) and head products at Kotak Mahindra AMC, says the MPC meeting this time is set against an interesting backdrop —rising CPI data and a falling GDP growth
PSU banks step up lending, disburse a record Rs 4.91 lakh cr loans in Oct-Nov
To beat the economic slowdown, finance minister Nirmala Sitharaman had, in September, directed the state-run lenders to reach out to customers and step up lending while complying with all the prudenti
Italian bank UniCredit to cut 8,000 jobs by 2023
The bank, Italy's largest by assets, said that its net profit will grow to 5 billion euros (USD 5.5 billion) by 2023, from a forecast 4.7 billion euros in 2019, with earnings per share rising 12 per c
Public sector banks disburse Rs 4.91 lakh cr loan during October-November
For NBFCs, PSBs disbursed Rs 25,525 crore loan in November, increasing sharply from Rs 19,628 crore in October, taking the total to Rs 45,153 crore.
PSU banks disburse record Rs 4.9 lakh crore loans during October-November
In a bid to boost consumption and revive the economy, Finance Minister Nirmala Sitharaman in September had asked banks to reach out to customers and signal their willingness to lend following all prud
No job loss from PSU bank mergers: Here’s what Finance Ministry says about employees’ interest
In August, the government announced a mega plan to merge 10 public sector banks into four with a view to creating fewer and stronger global-sized lenders with robust balance sheets that can be used to
Government says nearly 3 per cent of Rs 6.04 lakh crore worth of Mudra loans turn into bad loans
Prime Minister Narendra Modi launched the PMMY on April 8, 2015, for providing collateral free loans of up to Rs 10 lakh to non-corporate, non-farm small/micro enterprises with a view to generating em
PSU banks confiscate property worth Rs 2.3 lakh crore from loan defaulters; record recovery last year
The PSU banks have also recovered Rs 3.35 lakh crore over the last four-and-a-half financial years, including a record recovery of Rs 1.27 lakh crore during the financial year 2018-19.
Indian banks need $7 billion additional capital: Fitch
In its 2020 Outlook for 'Asia-Pacific Emerging Market Banks', the rating agency maintained a negative outlook on Indian banks, based on its expectations of continued weak performance despite trends sh
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