Banking & Finance

CIC again asks PMO, RBI to disclose wilful defaulters’ list, Raghuram Rajan’s letter on bad loans

Severely admonishing the RBI and the PMO, the Central Information Commission has again directed them to disclose the list of wilful defaulters and Raghuram Rajan's letter on bad loans.

Raghuram Rajan, BRI, BRI governor, CIC, PMO, RBI wilful defaulters, wilful defaulters list, Raghuram Rajan letter, Raghuram Rajan letter on bad loan News

Amazon Echo devices now available on Microsoft Store

Following its partnership with Amazon to integrate their two Artificial Intelligence (AI)-powered assistants Alexa with Cortana, Microsoft has now started selling Amazon's Echo devices in its retail s

Banking & Finance News

RBI board meeting on Monday; likely to reach common ground on some key issues

Reserve Bank of India board meeting: The RBI's central board currently has 18 members, though the provision is that it can go up to 21.

RBI, RBi board meeting, rbi key issues, Urjit Patel, Reserve Bank of India, Reserve Bank of India meeting, Reserve Bank of India board meeting, banking news

RBI net sells $18.66 billion of greenback between April-September

The Reserve Bank of India (RBI) net sold USD 18.662 billion of the greenback in the spot market, during the first seven months of the current financial year.

RBI, RBI data, reserve bank of india, spot market, greenback, US dollars, banking news

As SBI’s YONO suspended post SC verdict on Aadhaar, bank seeks clarification from RBI

As SBI's one-stop solution platform 'YONO' for accessing all the banking services digitally remained suspended following the Supreme Court's order on Aadhaar seeding, the bank has sought clarity from

Banking & Finance News

State-owned banks’ losses widened nearly 3.5 times to Rs 4,284 cr in July-September

State-owned banks saw their cumulative losses widen nearly three-and-a-half times to Rs 14,716.2 crore in the July-September quarter of the current fiscal due to mounting bad loans.

Banking & Finance News

After Rana Kapoor, who? 5-10 bank chiefs and 1 MNC chief in the fray to head Yes Bank

A search panel entrusted with finding Rana Kapoor's successor to lead Yes Bank has shortlisted multiple names, including those serving a foreign as well as domestic lenders.

A search panel entrusted with finding Rana Kapoor's successor to lead Yes Bank has shortlisted multiple names News

New RBI window may not increase credit to crisis-hit NBFCs, says report

On November 2, RBI had allowed banks to provide PCE for debt raised by non-deposit-taking systematically important non-banking financial companies (NBFCs) and housing finance companies (HFCs).

Banking & Finance News

MSME liquidity crunch is real: Bank credit to small businesses falls for first time in 14 months

According to experts, there was a shift towards tightening credit flow to MSMEs in September month and this decline in credit flow is expected to go higher for the month of October and December 2018,

Banking & Finance News

Alternative Investment funds based on Islamic banking tenets yet to take off in India

Almost nine years after the launch of the first Sharia-compliant investment fund in India, the alternative investment funds based on the tenets of the Islamic banking are yet to take off in the countr

Banking & Finance News

NBFC debt crisis is starting to hit India’s consumers

Karan Dua, an electronics shop owner in south-central Mumbai, placed his hope of crackling sales on Diwali -- the Hindu festival of lights when Indians splurge on everything from clothes to cars and j

Banking & Finance News

Ashok Chawla resigns as Yes Bank chairman

Private lender Yes Bank said Wednesday its non-executive Chairman Ashok Chawla has resigned with immediate effect.

Banking & Finance News

RBI slaps these two banks with Rs 3 crore fine each over anti-money laundering norms

The Reserve Bank of India (RBI) has slapped monetary penalty of Rs 3 crore each on two banks for non-compliance with the directions issued by the central bank on Income Recognition and Asset Classifi

The Reserve Bank of India (RBI) has slapped monetary penalty of Rs 3 crore each on two banks for non-compliance News

Modi launches APIX technology; what it is, how it will help 2 billion people without bank accounts globally

In a bid to reach two billion people worldwide who are still without bank accounts, Prime Minister Modi launched the APIX (Application Programming Interface Exchange), a banking technology platform in

Rs 75 commemorative coin, Features of 75 rupees coin, 75th anniversary of Tricolour hoisting by Bose, Modi government, Netaji Subhash Chandra Bose, Port Blair, the Ministry of Finance. News

RBI, govt in talks to ease lending norms to boost MSME credit flow

In order to enhance bank lending to MSMEs, the Ministry of Finance and the RBI are in talks to ease certain 'risk-weight' guidelines for lending to MSMEs and align them to globally accepted benchmarks

non food bank credit, banking sector, banking industry News

China’s biggest bank to invest $200 million in Indian SMEs

The Indian unit of China's largest bank, the Industrial and Commercial Bank of China has set up USD 200 million fund for investing in the promising Indian micro, small and medium enterprises and ventu

china, china bank, Chinese bank, Indian MSMEs, Indian MSMEs investment, Commercial Bank of China, Industrial and Commercial Bank of China, Indian start-up ecosystem, banking news

More pain seen in NBFC sector in next few months

The 50 largest NBFCs are looking for Rs. 700 billion in just the current month. The sector needs Rs 1.2 trillion in the current quarter and will have to refinance 40 percent of its debt over the next

nbfc companies, nbfc norms, rbi nbfc News

IL&FS crisis aftermath: Steps for asset monetisation initiated

Announcement means an agreement struck in June by IL&FS’ erstwhile board to sell ISSL to IndusInd Bank is nullified.

Banking & Finance News

UCO Bank Q2 net loss widens to Rs 1,136 crore as bad loans soar

State-owned UCO Bank Monday reported widening of net loss to Rs 1,136.44 crore for the second quarter of 2018-19, on rising bad loans.

Banking & Finance News

PM Modi to launch banking solution for 2 billion people without bank accounts globally; key things to know

Prime Minister Narendra Modi will address some 30,000 people at the world's largest gathering of financial technology companies in Singapore this week and launch a banking solution for two billion peo

Banking & Finance News

PNB Housing Finance obtains refinance sanction of Rs 3,500 crore from NHB

PNB Housing Finance Monday said it has obtained refinance sanction of Rs 3,500 crore from the National Housing Bank (NHB) in October 2018.

PNB, PNB Housing Finance, refinance sanction, NHB, National Housing Bank, NHB refinance schemes, banking and Finance News

Backing RBI on NPAs, Arun Jaitley says minimising bad loans alone will ensure credit flow

Finance Minister Arun Jaitley on Sunday said minimising bad loans alone can ensure adequate credit flow to small businesses and the troubled NBFCs.

arun jaitley, npas, economy, fm arun jaitley News

RBI seeks time till November 26 to respond to CIC’s show-cause notice

Slapped with a show-cause notice to its Governor Urijit Patel from the CIC, the Reserve Bank of India has sought time till November 26 from the commission, highest adjudicating body in RTI matters, fo

Banking & Finance News

Despite increase in lending rates, NBFCs push credit demand by 14.4% to a five-year high

This growth is at a five-year high, after the 16.6 per cent achieved by the system in October 2013 and the data come amid reports of an increase in demand from the troubled non-bank finance companies

Banking & Finance News

Rupay shines! From limited presence in 2013 to capturing half of market now; 3 reasons behind stellar rise

In a big boost to the Modi government, Rupay, homegrown card payment network, which constituted just 0.6 percent in market share in 2013, now controls half of the segment, ahead of Visa, Mastercard an

Mastercard, US protest, Narendra Modi, Indian card network, RuPay, visa, money news

RBI vs Finmin: Fiscal deficit under control, didn’t seek Rs 3.6 lakh crore from central bank, says Garg

As the spotlight is on the central bank’s Nov 19 board meet, DEA secretary says its capital framework is under review.

rbi, reserve bank of india News

Indian Bank Q2 profit slips 67 per cent at Rs 150 crore

State-owned Indian Bank Friday reported a 66.7 per cent dip in its net profit at Rs 150.1 crore for the second quarter ended September on account of increase in bad loans. Bank’s net profit in t

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