Banking & Finance

RBI says all coins must be accepted as legal tender

However, the RBI continues to receive complaints about non-acceptance of coins by bank branches, causing considerable inconvenience to the public at large, the RBI said in a notification.

Separately, the RBI also asked all banks not to turn away customers who come to exchange coins at their branches. (File photo) News

Multi-crore bank fraud: ED attaches assets worth over Rs 9,000 cr in Sterling Biotech PMLA case

The officials said a provisional order of attachment was issued by the central probe agency under the Prevention of Money Laundering Act (PMLA).

The Enforcement Directorate (ED) registered a criminal case in the alleged bank fraud scam based on a Central Bureau of Investigation FIR and charge sheet. News

Amount involved in bank frauds of above Rs 1 lakh on decline

Enactment of the Fugitive Economic Offenders Act, 2018 as well as authorisation to PSBs to obtain certified copy of passport of promoters/directors of companies availing loans of more than Rs 50 crore

bank frauds, Nirmala Sitharaman, Rajya Sabha, Fugitive Economic Offenders Act, PSB, RBI News

Housing finance companies asked to raise capital adequacy to 15 %

The public deposits being taken by eligible HFCs are capped at three times of their NOF, according to the notification.

Singapore, CapitalLand, Ascendas Singbridge, Asia, largest realty groups, acquisition, urban development project, logistics properties, lodging properties News

ICICI Bank eyeing 20 per cent growth in retail loan in Kerala FY20

Retail consumer loans have witnessed significant growth in Kerala over the last few years. There has been a robust growth in the state's economy.

ICICI Bank, ICICI bank news, Axis Bank, HDFC Bank, banking news

Gross NPAs of banks may reduce to 8% by March 2020, says report

It said public sector banks (PSBs), which account for over 80 per cent of the NPAs in the system, should see their gross NPAs climb down over 400 bps to close to 10.6 per cent by March 2020 from a pea

Gross NPA, public sector banks, Reserve Bank of India, NCLT, SME, stressed assets News

Number of wilful defaulters in nationalised banks up 60 per cent to 8,582 in 5 years

The minister was replying to a question whether the cases of wilful defaulters of banks have increased during the last five years.

Number of wilful defaulters, nationalised banks, Lok Sabha, Nirmala Sitharaman, SARFAESI Act, Insolvency and Bankruptcy Code, Fugitive Economic Offenders Act News

Everyone has a debit card, but not all have a smartphone: SBI MD

Banks are working with auto dealers who have utilised all their inventory funding limits, PK Gupta, MD – retail and digital banking, State Bank of India says.

sbi, state bank of india, banking sector, banking industry News

Want to file complaints against banks, NBFCs? Try RBI’s new CMS

Customers can lodge complaints against any regulated entity with public interface such as commercial banks, urban cooperative banks, Non-Banking Financial Companies (NBFCs).

The RBI also plans to introduce a dedicated Interactive Voice Response (IVR) system for tracking the status of complaints. (File photo) News

Modi govt plans more features to flagship schemes to push inclusion

Govt working on adding new features to Jan Dhan, Mudra, Suraksha Bima Yojana and Atal Pension schemes.

Banking & Finance News

Politicians need to move fast as tech firms like Facebook moving into finance: BIS

The social media group's announcement last week that it wants to expand into payments and launch its own coin Libra has focused minds of regulators and central bankers, the BIS said.

Banking & Finance News

IndusInd Bank promoters to infuse Rs 2,700 cr via warrants

The merger between the bank and the micro-lender, which will be effective July 4, is accretive from a profit, marginand return on equity perspective.

Banking & Finance News

Strong May for most private insurance players; inflows to equity MFs still muted

Individual APE growth of 27% y-o-y in month; inflows to equity MFs are still muted.

Banking & Finance News

SBI plans tapping Singapore SME businesses

The SBI plans to offer its YONO app, an omni-channel service at fingertip, to manage a wide range of financial services here.

The SBI has also opened its ATMs for remittances for account holders. (Reuters File photo) News

Paytm Payments Bank focuses on transaction volumes

Paytm Payments Bank, which turned profitable in the second year of its operation, plans to focus on corporate salary accounts and direct money transfers in the current financial year to augment transa

Banking & Finance News

Banks spend $1 trillion on digital, but few reap the rewards

All the banks studied, based in 21 countries, started at roughly similar rates of return on equity in 2011, but by 2017 the banks that Accenture identified as “digital focused” had ROE that rose 0

bank, global banks, digital transformation, information technology, Accenture Plc, banking and finance news

Discussing with banks to provide foreign currency loans to exporters, says Piyush Goyal

Goyal also said Export Credit Guarantee Corporation of India (ECGC) can play a role of credit enhancement agency for exporters.

Piyush Goyal, Commerce and Industry Minister, CII, ECGC, ECGC policy, foreign currency loans, exporters News

India Post Payments Bank eying to be preferred gateway for govt subsidy transactions

To boost volumes for its payments business, India Post Payments Bank (IPPB) is demonstrating its last-mile reach through its massive network of access points so as to become the preferred banking part

Banking & Finance News

NBFC crisis: Record Rs 1.1 lakh crore loans due over 90 days

Facing a record amount of debt that’s about to mature, non-bank financing companies (NBFCs) are finding their troubles worsening as a crisis of credibility starts to bite.

Banking & Finance News

NPA resolution: IBA releases revised ICA draft to help banks

The Indian Banks’ Association (IBA) released a revised draft of the inter creditor agreement (ICA) on Tuesday, in compliance with the Reserve Bank of India’s revised circular on ‘prudential fram

Banking & Finance News

Banks’ non-food credit growth at a 14-month low

Non-food credit growth in the banking system fell for the fifth straight fortnight to 12.26% year-on-year (y-o-y) — a 14-month low — for the period ended June 7, down from 12.63% in the previous f

Banking & Finance News

RBI slaps Rs 10 lakh fine on South Indian Bank

"Examination in this regard revealed violation of RBI directions on 'Guarantees and Co-acceptances' and a notice was issued to the bank advising it to show cause as to why penalty should not be impose

RBI, South Indian Bank, bank guarantees ,latest news on RBI News

RBI holds meeting over coin-storage crisis of banks in Shirdi

As of today, Rs 1.5 crore of the SSST's money in the form of coins is with 11 banks where the trust has accounts, a trust official said.

Banking & Finance News

NPA crisis: PNB’s recovery of bad loans doubled to Rs 20,000 crore in FY19

As a result, as on March 31, 2019, 1,142 borrowers were declared as wilful defaulters, according to the annual report.

Banking & Finance News

HDFC to acquire Apollo Munich Health for Rs 1,347 cr; here’s what happens to HDFC Ergo

German insurer Munich Health will pay Rs 294 crore to Apollo Hospitals Enterprise and Apollo Energy for terminating their joint venture, HDFC chairman Deepak Parekh said.

HDFC, HDFC to acquire Apollo Munich Health, HDFC Ergo, Apollo Hos, pitals group, Deepak Parekh, NCLT, Irdai News

Mumbai Metro One: Syndicate Bank seeks advice on Rs 1,928 crore loan

The bank’s Rs 1,928-crore exposure to the public-private partnership (PPP) is understood to have been classified as a non-performing asset (NPA) in 2018 and it is currently assessing a restructuring

Banking & Finance News

Federal Bank to raise up to Rs 500 cr through Basel III-compliant bonds

Private sector lender Federal Bank Wednesday announced plans to raise up to Rs 500 crore by issuing Basel III-compliant bonds on private placement basis.

Shares of Federal Bank were trading 0.05 per cent lower at Rs 104.85 apiece on BSE. News
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