Aadhaar-based eKYC: No discontinuation of mobile services, says government- Rich India! The country has 7,300 millionaires in 2017-18, wealth dominated by property and real assets
Big relief: Petrol, diesel prices cut for the first time in two months on softer crude
Former SBI Chairman Arundhati Bhattacharya joins Reliance Industries' board
- Aadhaar-based eKYC: No discontinuation of mobile services, says government
- Former SBI Chairman Arundhati Bhattacharya joins Reliance Industries' board
- Big relief: Petrol, diesel prices cut for the first time in two months on softer crude
- Rich India! The country has 7,300 millionaires in 2017-18, wealth dominated by property and real assets
Banking & Finance News
Too many PSU banks in India; here's what SBI Chief Rajnish Kumar has to say
FE Online | October 18, 2018 12:56 PM
On September 17, the Narendra Modi government announced the merger proposal of Bank of Baroda, Vijaya Bank and Dena Bank with an aim to make the entity the third largest bank in India.
Are banks really closed for 11 days in October, November? Don't panic; check holiday dates here
FE Online | October 18, 2018 2:03 PMRumours circulating on social media have made the assumption that banks will be closed on several days for Diwali and allied festivals.
RBI denies more time to Yes Bank CEO Rana Kapoor; asks to appoint new chief by Feb 1
FE Online | October 17, 2018 5:42 PMRBI wants to pull its directors out of PSU banks, Finance Ministry disagrees; check what both say
FE Online | October 17, 2018 12:48 PMFederal Bank Q2 result: Marginally up profit reported at Rs 266 crore
FE Bureau | October 17, 2018 12:16 AMData localisation: RBI stands firm, USIBC cautions India it might hamper growth
PTI | October 16, 2018 10:28 PMCVC shares first-of-its-kind report on top 100 bank frauds with RBI, ED and CBI
PTI | October 16, 2018 6:58 PM-
Are banks really closed for 11 days in October, November? Don’t panic; check holiday dates here
FE Online | October 18, 2018 2:03 PMRumours circulating on social media have made the assumption that banks will be closed on several days for Diwali and allied festivals.
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Too many PSU banks in India; here’s what SBI Chief Rajnish Kumar has to say
FE Online | October 18, 2018 12:56 PMOn September 17, the Narendra Modi government announced the merger proposal of Bank of Baroda, Vijaya Bank and Dena Bank with an aim to make the entity the third largest bank in India.
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RBI denies more time to Yes Bank CEO Rana Kapoor; asks to appoint new chief by Feb 1
FE Online | October 17, 2018 5:42 PMYes Bank had announced on September 17 that the RBI has directed Rana Kapoor to step down as the MD and CEO of the bank by January 31, 2019.
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RBI wants to pull its directors out of PSU banks, Finance Ministry disagrees; check what both say
FE Online | October 17, 2018 12:48 PMNow, neither the government is receptive of the RBI’s idea of withdrawing its directors, nor it wants the RBI to have additional powers over regulation of PSU banks, as the government is of the view that the regulator already enjoys sufficient powers.
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Federal Bank Q2 result: Marginally up profit reported at Rs 266 crore
FE Bureau | October 17, 2018 12:16 AMFederal Bank on Tuesday reported a marginal, 0.88% rise in its net profit for the second quarter of FY19 at Rs 266 crore, restricted by an increase in provisions as dud assets increased.
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Data localisation: RBI stands firm, USIBC cautions India it might hamper growth
PTI | October 16, 2018 10:28 PMWith the RBI standing firm on its data localisation stance, the US-India Business Council (USIBC) Tuesday cautioned that policies restricting flow of data can act as “barriers” to expansion of services in India, impacting not only consumers but also growth of Indian payments market.
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CVC shares first-of-its-kind report on top 100 bank frauds with RBI, ED and CBI
PTI | October 16, 2018 6:58 PMProbity watchdog Central Vigilance Commission (CVC) has completed a first-of-its-kind analysis of the top 100 banking frauds, including those in the jewellery and aviation sectors, and shared its findings with the RBI, ED and CBI among others, Vigilance Commissioner T M Bhasin said Tuesday.
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RBI approves 3-year term for Sandeep Bakhshi as ICICI MD, CEO
PTI | October 16, 2018 6:24 PMAdopting a seemingly cautious approach, the Reserve Bank has approved appointment of Sandeep Bakhshi as ICICI Bank’s Managing Director and Chief Executive Officer for three years as against a five-year term sought by the lender.
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As data localisation deadline approaches, payments firms get ready for a showdown with RBI
FE Bureau | October 16, 2018 2:42 AMIndustry sources said, in a meeting on October 10, RBI had told the companies that if they fail to meet the deadline regulatory action and penalty will follow.
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RBI data localisation: 80% players comply with norms, say sources
PTI | October 15, 2018 9:56 PMWith the RBI not relenting on extending the Monday’s deadline for data localisation, as many as 80 per cent of industry players including Amazon, Alibaba and WhatsApp have complied with the data storage norms, according to official sources.
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Government stake in Allahabad Bank goes up by 7.6 per cent
PTI | October 15, 2018 9:44 PMGovernment’s stake in the Allahabad Bank has increased by 7.6 per cent post allotment of equity shares on preferential basis, the state-owned lender said Monday.
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IL&FS case: Government welcomes NCLAT order, says payment of salaries, completion of ongoing projects priority
FE Online | October 15, 2018 6:09 PMThe government on Monday welcomed the National Company Law Appellate Tribunal (NCLAT) stay on all the proceedings against crisis-hit IL&FS group companies and said that the current priority is to pay salaries and complete ongoing projects.
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Germany’s Kreditech gets RBI NBFC license for digital lending; check how it uses machine learning, big data
FE Online | October 15, 2018 5:07 PMKreditech uses its own technology for credit scoring of the consumers using big data and machine learning which helps it to determine credit risk for even thin-file customers.
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IL&FS liquidity crunch could deeply hurt not only NBFCs, but also broader economy: Moody’s
FE Online | October 15, 2018 3:08 PMSince NBFIs primarily depend on markets for borrowing to finance asset growth, the continued liquidity crunch would lead to increased financing costs for NBFCs or even ‘difficulty in rolling over their liabilities’, it added.
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Did not issue five-day strike call in Nov, says AIBEA
IANS | October 15, 2018 10:44 AMOn Sunday a message was circulated in social media under AIBEA letterhead that the UFBU has decided to call for five days continuous strike from November 26 to 30.
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Rising NPAs, credit slowdown! Why bankers need to think like trustees to revive banking sector
FE Online | October 13, 2018 11:03 AMConsidering Indian banking continues to function way below its potential, several big changes need to be brought into the banking sector.
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Sebi exempts Bandhan Bank from post-listing lock-in norms
FE Bureau | October 13, 2018 12:16 AMKolkata-based private lender Bandhan Bank on Friday said the capital markets regulator has exempted it from rules governing the post-listing lock-in period for promoter shareholdings in companies.
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PCA essential to maintain fiscal stability: Viral Acharya
FE Bureau | October 13, 2018 12:15 AMSpeaking at Indian Institute of Technology, Mumbai, he noted that PCA lays out the case for structured early intervention and resolution by regulators for banks that become under-capitalised due to poor asset quality.
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Who gets paid 1st when debt recovery happens or company goes bust; here’s what law says about secured creditors
October 15, 2018 2:07 PMThe Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act came into force on September 01, 2016 with an objective to streamline the process of debt recovery.
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Bandhan Bank gets SEBI exemption for one-year promoter share lock-in
FE Online | October 12, 2018 4:17 PMKolkata-based private sector lender has recieved SEBI exemption with respect to regulatory requirement of a one year lock-in period on promoter shares.
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Union Bank of India to raise Rs 700 cr from stake sale in six firms
FE Bureau | October 12, 2018 1:10 AMIn the quarter ended June, Union Bank had raised Rs 194 crore from sales of investments, down 70.3% year-on-year and 47.3% sequentially.
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PNB sells credit card outstandings worth 3% of its card portfolio
Shritama Bose | October 12, 2018 1:06 AMPunjab National Bank (PNB) sold non-performing credit card outstandings worth over 3% of its portfolio in the category in September, according to people aware of the development.
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Yes Bank hires headhunter Korn Ferry to assist search panel for new CEO
PTI | October 11, 2018 11:01 PMYes Bank Thursday appointed US-based headhunter Korn Ferry to assist an expert panel searching for a successor to outgoing MD and CEO Rana Kapoor.
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IL&FS default undermines asset backed securities market, highlights continuity risks: Fitch
FE Online | October 11, 2018 5:12 PMIn the next six months period – October 29 to March 13, 2019 – IL&FS group has to repay about Rs 1,085 crore worth of commercial papers. The beleaguered group has a total debt of about Rs 91,000 crore.
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IDBI Bank appoints Rakesh Sharma as new top boss; here are 2 key challenges before him
FE Online | October 11, 2018 1:44 PMThe state-run IDBI Bank, which is nearing its merger-completion with country’s largest insurer LIC, announced on Wednesday that veteran banker Rakesh Sharma has taken charge as the new MD and CEO of the bank.
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No respite for payments firms! RBI sticking with plans to force to store data locally
Reuters | October 11, 2018 8:29 AMFirms such as Mastercard, Visa and American Express have in recent months met with Indian policymakers, including Finance Minister Arun Jaitley, to push for an extension of the RBI’s deadline.
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Bandhan Bank Q2 net rises 47% on interest income
FE Bureau | October 11, 2018 2:27 AMThe bank added 7.6 lakh customers during the quarter, at the end of which its total customer base stood at 144 lakh.
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
