Banking & Finance

RBI cancels registration of 45 NBFCs; West Bengal tops list

The registration of 45 non-banking financial companies has been cancelled by the Reserve Bank of India, it said in two separate statements without specifying the reason.

Banking & Finance News

Infosys co-founder Nandan Nilekani to head RBI committee on digital payments; all you need to know

The committee will assess the current status of digital payments in financial inclusion and how the safety and security of digital payments can be improved.

RBI sets up panel under Nandan Nilekani to boost digital payments News

India to fully operationalise Chabahar port soon; Iranian bank branch to open in Mumbai, says Nitin Gadkari

The government has allowed an Iranian bank to open a branch in Mumbai, Union Minister Nitin Gadkari said Tuesday after a meeting with Iran's Foreign Minister Md Javad Zarif.

Banking & Finance News

Bharat Bandh: Banking services to get disrupted today as PSU bank employees join trade unions strike

Bank Employees Federation of India and the All India Bank Employees Association (AIBEA) have opted to strike in support of the nation-wide strike call announced by major trade unions against the Naren

Fast-track hiring to overcome manpower shortage due to retirements: Par panel to PSBs News

Consolidation time: Gruh finance to merge with Bandhan Bank

Bandhan Bank said on Monday Gruh Finance would merge with it in an all-share deal valued at approximately Rs 81,800 crore based on the closing prices of shares of the two players.

Banking & Finance News

HDFC-led Gruh Finance approves merger into Bandhan Bank; 5 key things to know

Gruh Finance board on Monday approved merger of housing financier with Bandhan Bank in share-swap deal.

Banking & Finance News

Banking services may get disrupted as employees unions call for 2-day strike; all you need to know

Last month as well, more than 1 million employees of various banks including private banks across the country, had observed a 1-day strike to protest against the proposed amalgamation of Vijaya Bank a

Bank Strike, Unions, Anti Worker Policy, Trade Unions, Bank Of Baroda, IDBI Bank, BSE Filing News

FE Best Banks Awards: The Jury is in, countdown begins

India’s banks today face many challenges among them an increasingly digitised environment and more demanding and aspirational customers. Thanks to digitisiation, the competition among intermediaries

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PSBs to either shut or rationalise 69 unviable overseas branches in few months

Planned rationalisation of operations and examination of a total of 216 overseas operations of PSBs was undertaken last year.

Banking & Finance News

Govt, RBI developing new system to collect information on NBFCs

The government, along with the RBI, is working for developing a source of data through the strengthening of institutional mechanism, said Economic Affairs Secretary Subhash Chandra Garg.

IL&FS, Company Affairs Secretary, insolvency and bankruptcy law, IL&FS Securities Services Ltd, NCLT News

Parliament panel asks PSBs to step up hiring to avert vacuum due to large retirement in 2019-20

Public sector banks (PSBs) ought to step up hiring at junior and middle levels to ensure there is no vacuum following retirement of large number of employees in the near future, the lawmakers said in

Banking & Finance News

Lack of real-time data responsible for crisis in shadow banking sector: Economic Affairs Secretary

The NBFC sector is going through a crisis, particularly related to liquidity, following the liquidity crisis in NBFC major IL&FS since August last year.

Banking & Finance News

Bank services to be hit as employees’ unions call for two-day strike

The All India Bank Employees Association (AIBEA) and Bank Employees Federation of India has informed the Indian Banks' Association (IBA) of the two-day nationwide strike on January 8-9, 2019.

Banking & Finance News

Vijay Mallya in trouble: Ex-Kingfisher boss declared ‘fugitive economic offender’

In a major setback for embattled businessman Vijay Mallya, he has been declared ‘fugitive economic offender’.

vijay mallya, fugituve vijay mallya, business baron business mallya, vijay mallya in uk, India, Prevention of Money Laundering Act, 2002, Enforcement Directorate News

Government amalgamates three regional rural banks

The government has amalgamated three Regional Rural Banks -- Punjab Gramin Bank, Malwa Gramin Bank and Sutlej Gramin Bank -- into a single RRB with effect from January 1.

Banking & Finance News

Flashback 2018: NBFCs stay afloat amid support from regulators

These persistent and timely measures by all concerned stakeholders have provided a great impetus to the financial services sector.

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Education loan defaults rise! Here’s how much of education loans by PSU banks turned bad in FY18

Nearly 9 per cent of the education loans extended by public sector banks (PSBs) were categorised as non-performing assets in the last financial year, according to the government.

Banking & Finance News

Rising bank frauds: Modi govt working with RBI to check fraud cases below Rs 1 lakh transactions

According to the recent data by the Reserve Bank of India, financial frauds rose as much as 72% in the financial year 2017-18 as the fraudsters looted a whopping Rs 41,167.7 crore

Banking & Finance News

No case of pension, gratuity fund diversion at PNB, says Arun Jaitley

Finance Minister Arun Jaitley Friday said Punjab National Bank (PNB) did not engage in any misappropriation of pension and gratuity funds in the past and no amount was taken from the trusts' account.

Banking & Finance News

PSU bank employees won’t lose jobs due to merger, says Arun Jaitley

Finance Minister Arun Jaitley on Friday said in Lok Sabha that there would be no loss of jobs due to merger of public sector banks.

Banking & Finance News

Capital Adequacy Norms: RBI is ‘unrealistic’, says Moily panel; Congress, BJP on same page

Contrary to his party’s public posturing, the panel headed by the Congress leader on the same page with govt

Banking & Finance News

Analyst Corner: Public Sector Banks to benefit from RBI nod to rejig MSME loans

Lenders usually step back lending when the early warning indicators suggest rising trends of deterioration.

Banking & Finance News

IBA officials to meet RBI governor Shaktikanta Das on January 17

Replacing them is meaningless and there is likely to be a request for easing guidelines on the matter,” he added.

Banking & Finance News

You can now sign up for Paytm Payments Bank! RBI gives nod to resume KYC process, add new customers

In June last year, the Reserve Bank of India directed Paytm Payments Bank to stop opening new accounts and e-wallets after it found that the company violated KYC norms.

Banking & Finance News

Bad Loans: RBI plays catch-up on NPA forecasts, gets it wrong consistently

The December 2015-March 2016 period coincided with the RBI’s asset quality review (AQR), a system-wide exercise that led to improved recognition of bad loans and a massive spurt in slippages at bank

Banking & Finance News

Debt Recovery: Banks mull Guj genco offer to take over GVK Gautami

According to earlier media reports, GVK Group was in talks to sell two gas-based power projects with an installed capacity of 684 mw installed capacity to Andhra Pradesh power utilities so that it cou

Banking & Finance News

Insurance industry goes on tech drive to expand coverage

Technology is the new friend in town for insurance industry as it strives to add more customers in a country that still remains largely under-insured, after a year full of reforms and introduction of

Banking & Finance News
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