Banking & Finance
Bad Bank to solve Rs 2 lakh crore bad loans, take NPAs off banks’ books; here’s how it will work
If it works as intended, Bad Bank may help cut system-wide bank NPAs (non-performing assets) by over 1%, and help recover some of bad debts too.
Plea alleges unauthorized access of Aadhaar and banking data by GPay: HC seeks RBI, UIDAI response
A bench of Chief Justice DN Patel and Justice Jyoti Singh issued notice on the petition and also sought the stand of Google India Digital Services Private Limited.
UPI to be linked to Singapore’s PayNow by July 2022
The linkage will enable users of each payment system to make instant, low-cost fund transfers on a reciprocal basis without getting on board the other system, the Indian central bank said.
Six entities complete test phase in ‘First Cohort’ under RBI’s regulatory sandbox scheme
The entities whose products have been found meeting the norms set by the RBI in the First Cohort are Nucleus Software Exports (PaySe), Tap Smart Data Information Services (Citycash), Natural Support C
NBFC, payment system operators can submit requests with RBI for Aadhaar e-KYC licence
In May 2019, the finance ministry had come out with a detailed procedure for processing of applications (under the PML Act) for use of Aadhaar authentication services by entities other than banking co
New umbrella entities explained: Why India has delayed their retail payment systems
RBI’s decision to defer private umbrella entity licenses in light of data security concerns came much to sheer dismay of Tata & Reliance consortiums among other applicants, eager to venture into ret
BBB invites bids for conducting background verification of candidates
The firm will prepare a candidate verification report for every aspirant to provide the necessary inputs to the BBB members before the interactions of the individual personages with the bureau, accord
Bank loans to NBFCs grow slower as credit to small lenders dries up
Credit outstanding to non-bank lenders has been growing in the low single digits through much of the current year, with banks’ NBFC book actually shrinking 2.2% y-o-y in June 2021.
Restored normalcy in PSU banks hamstrung by sticky bad assets: Finance minister Nirmala Sitharaman
The Centre, apart from infusing required capital, monitored the PSU banks with regular assessment and reviews while taking prompt corrective actions.
Banks should embrace digitisation to ensure govt schemes reach needy: FM
Stating that the government distributed Rs 1,500 in three installments to the needy through their bank accounts during the Covid-19 outbreak, she said there are lot of changes happening in the banking
Fintechs are paving path for greater financial inclusion in India
Fintech organizations have a wide scope of business in India, particularly around payment lending, personal finance management, and regulation technologies.
Kotak Mahindra Bank to offer home loans at 6.5% through festive season
Ambuj Chandna, president – consumer assets, Kotak Mahindra Bank, said that at 6.5%, the lender’s pricing will be significantly more attractive than that of some of its competitors.
Bank will expand exposures on lower-rated, unsecured segment with proper due-diligence: AK Goel, MD & CEO, Uco Bank
PCA had not put restrictions on lending to big ticket size loan, except some restriction on low rated customers, unsecured loans, exposure in non-fund based business.
South Indian Bank launches credit card with fintech company OneCard
The internationally valid credit card on the Visa Signature platform can be fully controlled through the powerful OneCard app.
RBI removes UCO Bank from Prompt Corrective Action framework
The RBI said the lender has provided a written commitment that it would comply with the norms of minimum regulatory capital, net NPA and leverage
Industry view: Tokenisation circular modifications give banks more control over card data
The tokenisation or encryption of card data shall be done with explicit customer consent with an additional factor of authentication (AFA) validation by the card issuer.
UCO Bank out of PCA watchlist: RBI
The restrictions disable banks in several ways to lend freely and force them to operate under a restrictive environment that turns out to be a hurdle to growth.
Amazon Pay also set to help users book deposits, even as GPay service under RBI watch
Amazon Pay India on Wednesday announced a tie-up with investment platform Kuvera.in through which the former's customers will be able to invest in mutual funds and fixed deposits, a statement said.
India’s fintech market to triple to Rs 6.2 lakh cr by 2025: MoS Finance Bhagwat K Karad
Highlighting that India is a leader in adopting financial technology among emerging markets, he said, the country had an adoption rate of 87 per cent in March 2020, as compared to the global average o
Surplus liquidity, firm demand of MF drive down yields on CPs
As of September 7, yields on CPs issued by non-banking finance companies (NBFC) maturing in three months were hovering between 3.50% and 3.65%, and those on papers issued by manufacturing companies we
India Ratings maintains stable outlook on banking sector in FY22
It estimates gross non-performing assets (GNPA) of the banking sector to be at 8.6 per cent and stressed assets at 10.3 per cent for fiscal 2021-22.
India’s banking sector survives covid scare but needs to address these challenges now
Over the last 7 years the NDA government has been infusing capital into the public sector banks using recapitalization bonds. However, following COVID and the expectations from the Union Budget 2021-2
IDBI Bank-led consortium seeks EoIs to sell exposure to IVRCL road asset
IVRCL was among the companies named by the Reserve Bank of India (RBI) in 2017 in its second list of bad assets to be resolved under the insolvency code.
UCO Bank partners with Fisdom to offer wealth management solutions
The collaboration between Fisdom and Uco Bank will focus on enabling large-scale facilitation and distribution of all mutual fund schemes through the bank's network of over 3,000 branches and all digi
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Top News
- PAN-Aadhaar linking deadline extended! If not linked by this date, your PAN may become inoperative
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- Digital Life Certificate submission by pensioners to start from October 1, 2021 – Check details
- Bad Bank to solve Rs 2 lakh crore bad loans, take NPAs off banks’ books; here’s how it will work
- Sensex tanks 721 pts, Nifty falls 208 pts from record highs, snap 3-day winning run; what's in store next week
- Corona LIVE: 2.25 crore Covid-19 vaccine doses and counting, India sets new vaccination record on PM Modi's birthday
- WhatsApp multi-device support now made available to non-beta users; here’s how to enable feature
- Experts suggest to open all Delhi Metro station gates to reduce congestion; DDMA yet to decide
- Soon, flying from Karnataka to get easier! All major cities in the state to have airports; details
- Climate Anxiety: Floundering diplomacy and mismanaged COVID-19
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