Banking & Finance

Want to file complaints against banks, NBFCs? Try RBI’s new CMS

Customers can lodge complaints against any regulated entity with public interface such as commercial banks, urban cooperative banks, Non-Banking Financial Companies (NBFCs).
The RBI also plans to introduce a dedicated Interactive Voice Response (IVR) system for tracking the status of complaints. (File photo) News

Strong May for most private insurance players; inflows to equity MFs still muted

Individual APE growth of 27% y-o-y in month; inflows to equity MFs are still muted.

Banking & Finance News

SBI plans tapping Singapore SME businesses

The SBI plans to offer its YONO app, an omni-channel service at fingertip, to manage a wide range of financial services here.

The SBI has also opened its ATMs for remittances for account holders. (Reuters File photo) News

Paytm Payments Bank focuses on transaction volumes

Paytm Payments Bank, which turned profitable in the second year of its operation, plans to focus on corporate salary accounts and direct money transfers in the current financial year to augment transa

Banking & Finance News

Banks spend $1 trillion on digital, but few reap the rewards

All the banks studied, based in 21 countries, started at roughly similar rates of return on equity in 2011, but by 2017 the banks that Accenture identified as “digital focused” had ROE that rose 0

bank, global banks, digital transformation, information technology, Accenture Plc, banking and finance news

Discussing with banks to provide foreign currency loans to exporters, says Piyush Goyal

Goyal also said Export Credit Guarantee Corporation of India (ECGC) can play a role of credit enhancement agency for exporters.

Piyush Goyal, Commerce and Industry Minister, CII, ECGC, ECGC policy, foreign currency loans, exporters News

India Post Payments Bank eying to be preferred gateway for govt subsidy transactions

To boost volumes for its payments business, India Post Payments Bank (IPPB) is demonstrating its last-mile reach through its massive network of access points so as to become the preferred banking part

Banking & Finance News

NBFC crisis: Record Rs 1.1 lakh crore loans due over 90 days

Facing a record amount of debt that’s about to mature, non-bank financing companies (NBFCs) are finding their troubles worsening as a crisis of credibility starts to bite.

Banking & Finance News

NPA resolution: IBA releases revised ICA draft to help banks

The Indian Banks’ Association (IBA) released a revised draft of the inter creditor agreement (ICA) on Tuesday, in compliance with the Reserve Bank of India’s revised circular on ‘prudential fram

Banking & Finance News

Banks’ non-food credit growth at a 14-month low

Non-food credit growth in the banking system fell for the fifth straight fortnight to 12.26% year-on-year (y-o-y) — a 14-month low — for the period ended June 7, down from 12.63% in the previous f

Banking & Finance News

RBI slaps Rs 10 lakh fine on South Indian Bank

"Examination in this regard revealed violation of RBI directions on 'Guarantees and Co-acceptances' and a notice was issued to the bank advising it to show cause as to why penalty should not be impose

RBI, South Indian Bank, bank guarantees ,latest news on RBI News

RBI holds meeting over coin-storage crisis of banks in Shirdi

As of today, Rs 1.5 crore of the SSST's money in the form of coins is with 11 banks where the trust has accounts, a trust official said.

Banking & Finance News

NPA crisis: PNB’s recovery of bad loans doubled to Rs 20,000 crore in FY19

As a result, as on March 31, 2019, 1,142 borrowers were declared as wilful defaulters, according to the annual report.

Banking & Finance News

HDFC to acquire Apollo Munich Health for Rs 1,347 cr; here’s what happens to HDFC Ergo

German insurer Munich Health will pay Rs 294 crore to Apollo Hospitals Enterprise and Apollo Energy for terminating their joint venture, HDFC chairman Deepak Parekh said.

HDFC, HDFC to acquire Apollo Munich Health, HDFC Ergo, Apollo Hos, pitals group, Deepak Parekh, NCLT, Irdai News

Mumbai Metro One: Syndicate Bank seeks advice on Rs 1,928 crore loan

The bank’s Rs 1,928-crore exposure to the public-private partnership (PPP) is understood to have been classified as a non-performing asset (NPA) in 2018 and it is currently assessing a restructuring

Banking & Finance News

Federal Bank to raise up to Rs 500 cr through Basel III-compliant bonds

Private sector lender Federal Bank Wednesday announced plans to raise up to Rs 500 crore by issuing Basel III-compliant bonds on private placement basis.

Shares of Federal Bank were trading 0.05 per cent lower at Rs 104.85 apiece on BSE. News

Troubles worsen for India’s non-bank financing companies as maturing debts pile up

The shadow lenders, which have been under increased strain after the collapse of IL&FS Group last year, have a record 1.1 trillion rupees ($15.8 billion) of local-currency bonds due next quarter,

Debt funds cut exposure to NBFCs News

RBI fines HDFC Bank Rs 1 crore for violation of KYC norms

The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, it said.

Banking & Finance News

ICICI Bank to NCLAT: Direct NCLT Allahabad for early hearing on insolvency plea against Jaiprakash Associates

In its plea before the appellate tribunal, ICICI Bank submitted that there has been no progress in its petition filed before the NCLT Allahabad in last nine months.

According to ICICI Bank, JAL owes around Rs 1,296 crore and the bank had approached NCLT to recover the dues News

UCO Bank declares Yash Birla wilful defaulter, puts notice with photo

In a master circular on July 1, 2015, the Reserve Bank of India (RBI) had said no additional facilities should be granted by any bank or financial institution to listed wilful defaulters.

Banking & Finance News

PNB puts on block 6 NPAs with outstanding of over Rs 1,000 crore

"We intend to place the (six accounts) for sale to ARCs/NBFCs/Other Banks/FIs etc," said a notice put up by PNB.

PNB, NPA, NBFC, Gross NPA, Zoom Vallabh Steel, Nirav Modi, Mehul Choksi News

Jammu and Kashmir Bank now under RTI, CVC guidelines

On June 11, Chief Secretary B V R Subrahmanyam had said the bank has no choice but to be under RTI as it is a government-owned bank.

Banking & Finance News

RBI tells banks, grout ATMs to wall, pillar, floor by September-end; here’s the reason

With an aim to enhance security, the Reserve Bank of India (RBI) has asked banks to make sure that their Automated Teller Machines (ATM) are grouted to a wall pillar, or floor by the end of September

ATM transactions fee likely to changes News

Big is beautiful: Merger of PSU general insurance companies to unleash economies of scale

General Insurance: While there is unanimity on the benefits of consolidation of PSU insurance companies, experts are divided over the route to be adopted for this purpose.

New India Assurance, Oriental India, United India, National Insurance Company News
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