Banking & Finance

RBI permits Indian banks operating IBUs to participate in NDF market

Till now, Indian banks were not permitted to participate in this market, although the benefits of their participation in the NDF market have been widely recognised, the central bank stated.

Banks may participate through their branches in India, their foreign branches or through their IBUs, RBI said. News

No impact on profitability due to moratorium on loan payments: SBI chairman Rajnish Kumar

RBI in its statement on Friday said that lending institutions may recalculate drawing power of working capital facilities by reducing margins, reassessing the working capital cycle for the borrowers.

We are not uncomfortable even if 100% of the people choose to avail option of not paying term loan installment, the chairman of the country’s largest bank said. News

SBI sees around Rs 60,000 crore repayment getting deferred, says chairman Rajnish Kumar

The outbreak of coronavirus has impacted almost 75 per cent of the sectors and the measures announced by the RBI and the government will benefit everyone.

"With this EMIs or the term loan instalments will get shifted by three months," he said. News

RBI Governor Shaktikanta Das urges people not resort to panic buying; says Indian banking system is safe

The comments, which came after a massive correction in banking stocks following the Yes Bank crisis and coronavirus outbreak, also urged depositors not to resort to panic withdrawals.

RBI Governor, Shaktikanta Das, coronavirus outbreak, COVID-19, private sector banks, Maharashtra, Indian banking system, yes bank crisis, latest news on RBI News

PSBs launch emergency credit lines to tackle Covid-19

Meanwhile, a number of other banks, including Canara Bank, Indian Overseas Bank, Bank of India, Uco Bank and Indian Bank, have also announced the launch of the emergency lines of credit.

Banking & Finance News

Coronavirus lockdown set to hit NBFCs hard: Icra

In the corporate category, loan to real estate developers could come under stress as new home sales are likely to slow down, with buyers delaying their purchase decisions.

Banking & Finance News

Yes Bank board okays fundraising of Rs 15,000 crore

There was a sharp reduction in the bank’s total deposits from Rs 2.09 lakh crore in September 2019 to Rs 1.37 lakh crore till March 5, 2020. The cost to income ratio in the December quarter stood at

Banking & Finance News

Yes Bank board okays fund raising of Rs 5,000 crore

The board at its meeting has approved subject to receipt of requisite approvals, raising of funds for an additional amount aggregating up to Rs 5,000 crores Yes Bank said in a regulatory filing. 

Banking & Finance News

SBI Chief Rajnish Kumar says more calibrated responses from govt expected as impact of COVID-19 unfolds:

The government on Thursday unveiled a Rs 1.70 lakh crore economic package involving free foodgrain and cooking gas to poor for the next three months, one-time doles to women and poor senior citizens,

Banking & Finance News

Mega bank consolidation on track; to take effect from April 1, says FM Sitharaman

The merger will result in creation of seven large PSBs with scale and national reach, with each amalgamated entity having business of over Rs 8 lakh crore and it would help create banks with scale com

Banking & Finance News

Union Bank of India sets up emergency funding line for corporates, MSMEs

The bank is offering a maximum 10 per cent of the existing working capital limit to accounts that are standard as on February 1, 2020, a statement said.

Union Bank of India,  COVID-19 outbreak, State Bank of India, Bank of Baroda, india bank, MSMe News

PSU banks come to rescue before govt’s economic package; SBI, Indian Bank, others offer quick credit

The businesses suffering from a slump in demand and zero footfall in the market can now look up to many PSU banks to get emergency credit to carry on their endeavors.

emergency credit line, bank of india, union bank of india, sbi, state bank of india, coronavirus, covid 19 News

Gross non-performing assets of banks may rise up to 9.6-9.9%: CARE

The rating agency has done analysis of 38 banks, which showed the GNPAs of banks were 9.3% till the December quarter.

Banking & Finance News

Cabinet decisions: Regional rural banks to get Rs 1,340-cr capital in FY21

CCEA has cleared a proposal that involves a total of Rs 1,340-crore capital infusion into regional rural banks (RRBs) in FY21 to bolster their ability to lend.

Banking & Finance News

Indian Bank rolls out 5 special emergency loans to Covid 19-hit customers

As a relief to the Covid 19-affected customers, the bank will provide additional funding of up to 10% of the working capital limits (both fund-based and non-fund-based limits) with a maximum limit of

emergency credit line, bank of india, union bank of india, sbi, state bank of india, coronavirus, covid 19 News

Defer mega bank merger amidst COVID-19 pandemic: Officers’ union requests PM Modi

Banking services across the country are impacted due to the effect of COVID-19 as a near shut down is being observed across the country.

bank merger, oriental bank, pnb News

Covid-19: Canara Bank waives charges on withdrawal from other ATMs

The lender will not charge any penalty from its customers for non-maintenance of minimum balance in savings bank accounts. It has also waived off service charges for all digital transactions under TRe

Bank ATM Cash Withdrawal Charges removed News

SBI sees drop in banking transcations during lockdown but most ATMs running: Official

Online transactions are going on but overall there is a decline in banking activities, P K Gupta, Head of Retail, Payments & Digital Banking, State Bank of India (SBI) said.

He said in the last two days, most of SBI branches were open with a staggered time slot and transactions were witnessed on both the days. News

COVID-19: Indian Bank announces additional funding facility

Last week, the country's largest lender State Bank of India also announced an emergency credit line to meet any liquidity mismatch for its borrowers.

The loan tenor will be for 36 months with an initial moratorium of up to six months and would carry fixed interest rate of 1-year MCLR. News

Defer 20% additional provisioning for unresolved cases by 6 months: IBA to RBI

“This is the time to take extraordinary measures, hopeful that RBI will defer 20% additional provisioning to be done in the March quarter for unresolved cases,” said Ashok Kumar Pradhan, MD & CEO,

IBA has also urged the regulator to reduce cash reserve ratio (CRR) by 1% from the current rate of 4%. CRR is the amount of funds that banks have to maintain with RBI at all times. News

COVID-19: DCB Bank to spend Rs 1 crore CSR funds next 3 months

DCB Bank remains committed to its CSR initiative for the overall betterment of Indian society and its people.

Banking & Finance News

Who to blame for Yes Bank crisis? Former RBI chief Bimal Jalan tells whom to hold responsible

In an interview with news agency PTI, Bimal Jalan, who served as the head of the Reserve Bank of India for a period of six years, said, “I don't think we should blame RBI or the finance ministry for

Coronavirus outbreak, Bimal Jalan, Former RBI governor, fiscal stimulus, COVID-19 pandemic, credit growth, Indian economy News

DHFL claims cross Rs 1 lakh crore

The troubled lender is undergoing a resolution process under the Insolvency and Bankruptcy Code, 2016, after the Mumbai bench of the National Company Law Tribunal (NCLT) admitted the case on December

Banking & Finance News

Banking system liquidity falls to Rs 2.17 lakh crore: Care Ratings

There could be improvement in the liquidity position with an upcoming OMO purchase aggregating Rs 15,000 crore by the RBI scheduled for March 24.

Banking & Finance News

NBFC association seeks three-month moratorium on EMI payments

NBFCs are at the forefront of financing many of the affected sectors, notably small road transport operators, taxi aggregators, infrastructure contractors, MSMEs, traders etc.

coronavirus, instant loan, sbi loan, uco bank loan, bank of baroda loan, instant moeny, how to manage your finances, job loss, emergency money, financial planning, COVID-19, coronavirus health insurance, coronavirus insurance, insurance, FD, account holders, borrowers, NEFT ,RTGS ,IMPS ,UPI News

Covid-19: India needs three-fold rescue plan from govt, regulators, says HDFC Bank chief

At the same time, Puri asked for the rural sector to be protected from the spread of the viral outbreak as this segment has been showing signs of recovery, with a good rabi crop working in its favour.

Banking & Finance News

Yes Bank board may discuss Rs 15,000-20,000 cr fund raising, management shuffle on March 26

State Bank of India (SBI) and seven other lenders infused Rs 10,000 crore in Yes Bank via equity infusion.

Yes Bank board, Yes Bank, Punjab National Bank, Sunil Mehta, State Bank of India, credit growth, Ananth Narayan News
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