Banking & Finance

RBI raises limit for borrowing from MFIs

Similarly, the limit has been increased from Rs 1.6 lakh for urban or semi-urban areas to Rs 2 lakh, the RBI said in a circular.

Banking & Finance News

Uday Kotak says need rules for non-disruptive exit in financial sector

Kotak, the head of the private sector lender Kotak Mahindra Bank, said non-disruptive creative destruction is essential for the financial sector to help in winding up of businesses.

uday kotak, kotak mahindra, kotak bank, DHFL News

No charges on NEFT from 2020; check RBI’s latest move to boost digital payments

Your NEFT payments may soon stop attracting charges from as early as January 2020.

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Govt weighs special window for NBFCs

RBI guv allays fears, but says sharp variations in capital positions among shadow lenders; FM reviews state of the economy

NBFC, AGR, DoT, Bharti Airtel, Vodafone Idea, Rajiv Gauba News

Bankers remain cautious over lending to corporates

On Wednesday, SBI chairman Rajnish Kumar said if other banks cease to lend to infrastructure projects, it only means a fresh opportunity for SBI.

Rajnish Kumar, SBI chairman, Central Bank of India, MSME, NBFC, Corporate loans account, HDFC Bank News

PSU banks loan melas push non-food credit growth; outstanding loans inch closer to Rs 100 lakh crore

The loan carnivals were organised in two phases, with the first leg from October 1 and 9 and the second one from October 21 to 25.

PSU banks loan, PSU banks loan melas, non food credit growth, RBI, retail loan growth, credit deposit ratio, icra News

UCO Bank cuts Q2 net loss to Rs 892 crore

The bank's operating profit during the September quarter witnessed a 138% year-on-year jump to Rs 1,207.04 crore from Rs 506.10 crore in the corresponding quarter of the last fiscal, as both net inter

UCO Bank, UCO Bank Q2 net, Reserve Bank of India, NPA ratio, stock exchange filing News

Corporation Bank to raise up to Rs 1,000 crore by issuing Basel III compliant bonds

Banks need to improve and strengthen their capital planning processes to comply with Basel-III capital regulations. These norms are being implemented to mitigate concerns on potential stresses on asse

Bank deposit, FRDI bill, PMC Bank, Financial Resolution and Deposit Insurance law, GDP, industry news, banking news,  PMC Bank news

RBI Governor Shaktikanta Das says closely monitoring situation at PMC Bank; forensic audit underway

RBI had imposed withdrawal restrictions on account-holders after it found alleged irregularities to the tune of Rs 4,355 crore due to diversion of money to infrastructure firm HDIL.

RBI, reserve bank of india, Shaktikanta Das, PMC bank, PMC bank crisis News

ICICI Bank opens 44 branches in Karnataka

The expansion has resulted in the bank now having a network of 333 branches and extension counters along with 1,280 ATMs in Karnataka.

PSB, ICICI Bank, carnival, instant loan, industry news, banking news, Maha Loan Dhamaka, icici bank share, icici bank credit card, icici bank lombard News

PMC account holders stage protest at RBI Delhi; demand full money withdrawal

The protesting depositors, mostly belonging to business community, said they have not been able meet regular needs such as children's fees, medical, paying EMIs etc.

Banking & Finance News

PMC depositors gather outside RBI Delhi, demand assurance from central bank

On Tuesday, the RBI increased the withdrawal limit from the bank's customers to Rs 50,000 but this has done little to assuage the concerns of the distressed depositors.

Banking & Finance News

Singapore, UAE to bank on India for money: Soon, UPI will power digital payments abroad

India’s digital payment backbone UPI, which has awed some of the biggest tech companies in the world such as Google and Oracle, may soon power Singapore and UAE.

Razorpay, UPI payments, Unified Payments Interface, Razorpay CEO, PhonePe, Bharat Interface for Money, digital payments, value of transactions, cards netbanking india, UPI platform, Bharat Interface for Money, BHIM app, Google Pay News

What happens to your deposits if a bank fails: HDFC Bank warns customers with this message

HDFC Bank has started to stamp its passbook, which says that in the case of liquidation, the depositor will get a maximum of Rs 1 lakh only.

banks, deposits, hdfc new stamp, hdfc passbook, new stamp of 1 lakh, deposit insurance, pmc bank, hdfc bank, depositors money News

J&K Bank continues to register growth despite recent events: Financial Commissioner Arun Kumar Mehta

Jammu and Kashmir Bank is firmly moving on a path towards growth despite some of the recent events, Financial Commissioner, Finance, Arun Kumar Mehta said Tuesday.

Banking & Finance News

PNB posts Rs 507 crore profit in Q2 as provisions ease

The bank’s net interest income (NII) came in at Rs 4,264 crore, up 7.29% y-o-y.

PNB, NPA, PNB net interest income, BSE, SS Mallikarjuna Rao, PNB loan book News

Our loan book will grow 8-9% in FY 20, says Central Bank of India MD

The lender expects large-ticket slippages to be restricted to two-three accounts in the rest of FY20.

Central Bank of India, Central Bank of India MD, NBFC, MSME loans, PCA guidelines, home loan rate News

RBI raises withdrawal limit from PMC Bank to Rs 50,000

“The Reserve Bank of India is closely monitoring the position and shall continue to take further steps as are necessary to safeguard the interest of the depositors of the bank,” it added.

RBI, PMC Bank withdrawal limit, PMC Bank depositors, PMC Bank crisis News

Google Pay grows 3x in India in 12 months

Google Pay now has 67 million active users who use it at least once a month.

Google Pay, Next Billion Users, Sajith Sivanandan, UPI, Google Pay transactions, Google Pay for Business, QR codes, digital payments News

RBI slaps Rs 5 crore penalty on Gujarat-based Mehsana Urban Co-operative Bank

The RBI, however, added that the penalty is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the Mehsan

The penalty was imposed through an order dated November 4, it said. News

PNB clocks Q2 profit of Rs 507 cr as provision eases

During the quarter, the total interest income of the bank rose to Rs 13,292 crore from Rs 12,326 crore in the same quarter in the previous fiscal.

Banking & Finance News

Heavy to very heavy rains likely as ‘Maha’ hits Gujarat coast on Nov 7

As per the latest prediction by the India Meteorological Department (IMD), the very severe cyclonic storm is hovering around 650 km west-southwest of Porbandar and 700 kms west-southwest of Veraval in

Banking & Finance News

Relief to PMC customers: Withdrawal limit for bank depositors raised to Rs 50,000

With the above relaxation, more than 78 per cent of the depositors of the bank will be able to withdraw their entire account balance.

Banking & Finance News

PNB reports profit of Rs 507 crore in Q2 against loss of Rs 4,532 crore a year ago

The state-owned lender had posted a loss of Rs 4,532.35 crore during the same quarter a year ago.

Banking & Finance News

RBI asks to cap bankers’ incentives; move aimed at stopping private banks from disregarding rules

The Reserve Bank of India late Monday announced guidelines that cap the amount of variable pay, limit how much of it can be given in cash, and restrict guaranteed bonuses.

private banks, public sector bank, rbi, reserve bank of india, bankers incentives, bankers salary News

RBI notification: Liquidity coverage ratio for NBFCs mandated

The 1-30 day time bucket in the statement of structural liquidity is segregated into granular buckets of 1-7 days, 8-14 days and 15-30 days.

nbfc, rbi News

Indian Overseas Bank net loss widens to Rs 2,254 crore in September

Total income declined 6% to Rs 5,024 crore, against Rs 5,348.35 crore.

indian overseas bank, banking sector News
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