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Banking & Finance

Mobile wallets and lending will be top product lines for banks by 2022

An Infosys Finacle-Efma study says payments, mobile wallets and lending will be the top product lines for banks by 2022

Mobile wallets, financial services sector, Retail Banking, Infosys Finacle,  return on investment, retail banking News

How smart CFOs can scale up and save businesses: Deepak Parekh spells 2-L formula

Leverage and liquidity are the two ‘Ls’ that a smart CFO must guard. Both not only help scale up businesses but also lead to their downfall, said HDFC chairman Deepak Parekh.

Banking & Finance News

Non-disclosure of banks’AIRs: SC warns RBI of contempt action

The apex court had in January sought response from the RBI on petitions filed by RTI activists Subhash Chandra Agrawal and Girish Mittal seeking initiation of contempt proceedings against the Central

Non disclosure of banks, RBI,Annual Inspection Reports, Reserve Bank of India, RTI Act, Axis Bank News

Bank branches dealing with govt business to remain open this Sunday: RBI

All electronic transactions, including RTGS and NEFT, will continue for the extended time on March 30 and March 31, 2019 for which RBI will issue necessary instructions, it said.

Banking & Finance News

RBI slaps Rs 2 crore penalty on PNB for violating SWIFT norms over Nirav Modi case

The massive Rs 14,000-crore fraud perpetrated by billionaire jeweller Nirav Modi and his uncle Mehul Choksi at the PNB was a case of misuse of this messsaging software.

rbi monetary policy, rbi monetary policy 2019, reserve bank governor News

Jet Airways bailout: Mallya calls out PSU banks; wishes same was done for Kingfisher

In a series of tweets reacting to banks led by State Bank of India taking over management control of troubled Jet Airways, Mallya said,"...Only wish the same was done for Kingfisher".

Vijay Mallya, Bombay High Court, FEOA, FEOA Act, Enforcement Directorate, latest news on vijay mallya News

Credit and debit cards make for over half of electronic payments volume: RBI Governor

RBI governor says it’s about a nine-fold increase over the last five years

electronic payments in india, online transaction, debit card payment online, credit card payment News

Big bank theory: Axis Bank eyes big branch expansion to catch up with HDFC Bank, ICICI

Axis Bank is experimenting with different formats for branches to make it more interactive and enable better communication and engagement.

Banking & Finance News

Prudential Holdings to sell up to 3.71% in ICICI Pru Life to raise Rs 1,600 cr

The sale offer will be open for non-retail investors on March 26 and close on the same day. For retail investors, the date has been fixed as March 27.

Banking & Finance News

RBI governor Shaktikanta Das to meet heads of payments banks; ‘sandbox’ guidelines soon

A sandbox approach means experimenting and learning before finally adopting a technology or system.

RBI Board Meet: Finance minister arun jaitley and RBI Board Meeting held today News

IDBI Bank still in public sector; no threat of job losses

Although technically, IDBI Bank is not a public sector bank (PSB), there can’t be any retrenchment of employees following the LIC acquisition, as existing rules will continue to be applicable.

Banking & Finance News

Interviews for top post of NHB and IIFCL on Monday

The appointment will be initially for 3 years and may be extended by up to 2 years based on performance.

Banking & Finance News

SBI raises Rs 1,251 crore by issuing Basel III-compliant bonds

The bonds with a face value of Rs 10 lakh each bears a coupon rate of 9.45 per cent per anum payable annually with call option after 5 years or any anniversary date thereafter, it said.

SBI, sbi Basel III-compliant bonds, compliant bonds News

NPA crisis: PSU banks’ recoveries less than write-offs in October-December this fiscal

A clutch of banks together recovered Rs 35,058 crore while writing off loans worth Rs 44,998 crore.

Banking & Finance News

IDBI Bank goes for operational rejig after LIC deal

It intends to shift focus from corporate lending to retail, and aspires to raise share of retail banking portfolio to 70% from 50% at present in 5 years

Operational rejig: IDBI Bank seeks bids from consultants News

Private banks maintain credit growth of 20% for 5th straight quarter

The credit growth of private banks in the third quarter of the current fiscal was at 22% year-on-year (y-o-y), which remained over 20% for the fifth consecutive quarter. However, the credit growth of

Private banks maintain credit growth of 20% for 5th straight quarter News

Customers want to connect digitally: Surendra Rosha of HSBC India

Digital is the core of everything that we want to do within the bank. We were the first international bank to join UPI and launch it in November 2016.

Surendra Rosha , CEO, HSBC India News

SBI’s NBFC loan purchases at just Rs 17,000 crore so far, unlikely to meet full-year target

State Bank of India (SBI) has bought loan pools worth only about Rs 17,000 crore so far in FY19 from non-banking financial companies (NBFCs), against the stated target of Rs 45,000 crore, sources told

SBI’s NBFC loan purchases at just Rs 17,000 cr so far News

IDBI Bank to borrow up to Rs 4,000 crore via bonds next fiscal year

Shares of the bank closed 0.12 percent down at Rs 43.35 apiece on the BSE.

Banking & Finance News

Govt takes stock of recoveries from stressed assets through IBC

The meeting focussed on the progress made on recoveries so far, against the government’s FY19 target of Rs 1.8 lakh crore for PSBs, sources said. PSBs already recovered around Rs 1.1 lakh crore up t

Stressed assets: Finmin, bankers review recovery News

SBI board may extend Rs 20k-cr mop-up to FY20

State Bank of India (SBI) on Monday said its board will consider an extension of the approval accorded by the central board of the bank for raising equity capital of up to Rs 20,000 crore till March 3

SBI board may extend Rs 20k-cr mop-up to FY20 News

We are adding quality to retail, agriculture and MSME loans: Padmaja Chunduru of Indian Bank

In the nine months ended December, 2018, Indian Bank achieved net business growth of close to 9% with both deposits and net advances contributing in almost equal measure.

Padmaja Chunduru, MD & CEO, Indian Bank News

ING money laundering woes worsen after Bank of Italy inspections

The Bank of Italy asked ING Groep NV to avoid any business with new clients in the country after it fell short in recent anti-money laundering checks, adding to the Dutch lender’s compliance woes.

Banking & Finance News

RBI not in favour of changing IDBI’s name to LIC Bank

The IDBI Bank's proposal for changing its name has not found any favour from the Reserve Bank of India.

Banking & Finance News

RBI stands firm: No dilution of February 12 circular on stressed assets resolution

The Reserve Bank of India (RBI) on Saturday reiterated that it maintains its stand on all aspects of the revised framework on resolution of stressed assets issued on February 12, 2018, as per an RBI n

Banking & Finance News

No dilution on Feb 12 circular over stressed assets: RBI

The Reserve Bank of India Saturday maintained that there is no dilution in its stand with regard to February 12 circular on stressed assets recognition and resolution.

Banking & Finance News

PSB hikes MCLR by 0.05% on six-month tenor

Punjab & Sind Bank (PSB) has hiked its marginal cost of funds based lending rate (MCLR) by 0.05 per cent for six-month tenor.

Banking & Finance News
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