Banking & Finance

RBI allows payment of all recurring bills through Bharat Bill Payment System

Currently, the facility of payment of recurring bills through BBPS is available only in five segments -- direct to home (DTH), electricity, gas, telecom and water.
BBPS functions under the aegis of National Payments Corporation of India (NPCI). News

SBI shelves IPO plans for general insurance arm; card JV to hit market in Q4

SBI owns 74 per cent in the cards venture, while its foreign partner can also choose to dilute its stake through the IPO (initial public offering), Kumar said.

Banking & Finance News

SBI to move RBI to offer fixed-floating rate home loans

The largest lender State Bank of India will be seeking clarifications from the Reserve Bank whether it can offer long-term home loans with fixed rates in the beginning and convert the same into floati

SBI, RBI, fixed-floating rate, home loans, Rajnish Kumar, external benchmark, repo rate News

PNB, UBI, OBC merger: Six months needed for HR and IT integration

An “Interactive Meet” was organised here on Saturday with the Kolkata-based field functionaries of UBI, PNB & OBC. Customers of the three banks also attended the meet.

PNB, UBI, OBC, bank merger, IT integration, HR integration, Punjab National Bank, Oriental Bank of Commerce, United Bank of India News

United Bank plans to raise Rs 3,000 crore via preferential allotment

In that meeting, the bank will also consider the proposed amalgamation of United Bank of India and Oriental Bank of Commerce with Punjab National Bank.

United Bank, United Bank of india, equity capital, preferential allotment, Oriental Bank of Commerce, Punjab National Bank News

Non-food credit growth falls to over 20 month low

Aggregate deposits in the banking system stood at Rs 116.46 lakh crore from Rs 126.80 lakh crore in the previous fortnight, as per the central bank's data.

non-food credit growth, Reserve Bank of India, banking system, deposit growth, credit deposit News

RBI puts out draft norms for ‘on tap’ licensing of SFBs

he promoter stake will have to be brought down to a maximum of 30% of the paid-up voting equity capital within 10 years, and to a maximum of 15% within 15 years from the date of commencement of busine

Banking Services, Banking Services expansion, NBFC, RBI, SFBs, shareholding News

RBI proposes Rs 200 crore minimum capital for small banks under ‘on tap’ licence regime

A small finance bank is primarily set up to undertake basic banking activities of acceptance of deposits and lending to unserved and underserved sections, including small business units, small and mar

RBI, capital, small bank, banking news, finance news, industry news, foreign direct investment, FDI, Reserve Bank of India News

PSU Bank merger: Canara Bank board approves merger with Syndicate Bank; key things to know

Canara Bank board on Friday gave in-principle approval to its merger with Syndicate Bank.

As per the announcement, Syndicate Bank will merge with Canara Bank News

This RBI move leaves more money for banks to lend to consumers ahead of festive season

Reserve Bank of India’s move to reduce risk weightage requirement for consumer loans may provide a boost to consumer lending and spending.

rbi, RBI, risk weight, consumer credit, credit card, home loan, personal loan News

RBI increases banks’ loan exposure limit to single NBFC

According to the extant 'Large Exposures Framework (LEF)', banks' exposure to a single non-banking financial company (NBFC) is restricted to 15 per cent of their available eligible capital base, while

RBI, bank loan exposure limit, NBFC, IL&FS Group, banking sector, credit supply News

All banks on equal footing in amalgamation plan: Sunil Mehta, MD & CEO, PNB

The government, under the decisions taken under the alternative mechanism, has announced in-principle approval for the merger process of 10 banks in which PNB is one of the anchor banks.

amalgamation plan, Sunil Mehta, PNB, Punjab National Bank, annual general meeting, Indian Banks’ Association News

Bank credit growth slows to 10.24%, deposits at 9.73%

In the previous fortnight to August 16, advances grew 11.64 percent to Rs 96.82 lakh crore and deposits by 10.15 percent to Rs 126.80 lakh crore.

In July, the non-food bank credit rose 11.4 percent on year-on-year basis from 10.6 percent in July 2018. News

Bank officers’ union threatens 2-day strike from September 26 against PSU mergers

A union leader also said that the nationalised banks will further observe indefinite strike from the second week of November to press for their demands.

Bank officers union, PSU merger, bank merger, bank news, indian bank News

Big banks shouldn’t go subprime amid slipping credit growth

The near-recession in the consumer economy means unsecured lending could be the next domino to fall. 

Banking & Finance News

Booster shot for real estate sector; National Housing Bank to pick up stakes in HFCs

To help revive the ailing real-estate sector and give a further push to affordable housing where the government is placing a lot of thrust on, finance minister Nirmala Sitharaman will soon announce a

Pacts between lenders and developers not to deter discounts to homebuyers News

Canara Bank looks to raise Rs 1,000 crore from sale of Can Fin Homes

Canara Bank expects to raise around Rs 1,000 crore by offloading its entire 30% stake in mortgage lender Can Fin Homes.

Canara Bank had sought bid for its 30% stake in Can Fin Homes on September 6 News

Commercial paper issuance by NBFCs fall 66 pct in August as cost of funds rises

Commercial paper (CP) issuances by non-banking financial companies (NBFCs) dropped over 66% year-on-year (y-o-y) in August 2019, led by a rise in cost of funds and correction of asset-liability mismat

Last year in August, NBFCs rose Rs 95,694 crore by issuing CPs, while NBFCs issued just Rs 32,355 crore in August 2019 News

HDFC Bank doubles mid-corporate loan book to over Rs 90,000 crore in 3 years

Three years ago, in the mid-corporate segment, the bank was present in 18 cities and the number of clients was around half of over 3,500 now.

On the asset quality front, HDFC Bank is the only lender that has not been affected by the NPA (Non-Performing Assets) pain in all these years, Shah said. News

Banks merger: PNB, UBI and OBC form working groups to oversee process

They have got overlapping presence with PNB, which can be of advantage and we can optimise on our resources.

Banking & Finance News

SBI to raise Rs 3,465 crore by selling up to 4.5 per cent in SBI Life

The share sale process consists of a base issue of selling up to 3.5 per cent with an option to additionally sell up to 1 per cent of the total issued and paid up equity share of SBI Life.

Stock of SBI closed at Rs 285.30 apiece on BSE News

How to grow small housing finance companies: RBI suggests measures, new market

Housing finance in India is a highly concentrated business, with the top five housing finance companies (HFCs) accounting for over 85 per cent of the loans.

house, housing finance companies, HFCs, NBFC, mortgage-backed securities News

Uday Kotak says number 8 is jinxed; here’s what Indian hero must do to beat slowdown villain

Even as the Indian economy continues to remain under pressure amid the ongoing slowdown, top banker Uday Kotak said that the economy goes through such a phase every 10 years. Speaking on the sidelines

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Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and s

Banking & Finance News
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