Slated to be launched on Friday, the credit card provider claims that BIP will allow firms to increase their days payable outstanding despite paying the vendor on time.
Discretionary consumer demand expected to bounce back: Urjit Patel at MPC meeting on Feb 7-8.
For larger stressed assets of power companies, loans need to be bought by the government–owned asset management company, he had suggested.
Newly appointed RBI Deputy Governor Viral V Acharya yesterday suggested a two-pronged strategy to resolve the issue of bad loans including creation of a Private Asset Management Company.
"Divestments should also be on the table", said Viral Acharya
Most of the assets remain laden with such high levels of bank debt that their interest coverage ratio is lower than one.
She said telcos being commercial entities have their objectives to ensure that they can carry voice, data with better clarity and speed and to make profits.
The Watal Committee has said that the primary objectives of the PRB must include promotion of competition and innovation in the payments market.
he bank, which started operations in September 2015, had made net profit of Rs 275 crore in its first seven months of operations in 2015-16.
Gandhi said there is a misconception that non-bank entities are being discriminated as compared to the banking entities in the payment system arena.
Bad loans have now shot up by 135 per cent from Rs 261,843 crore in the last two years, despite the Reserve Bank of India announcing a host of restructuring schemes.
The five associate banks have a total deposit base of over Rs 5 lakh crore and 8,964 ATMs across India.
These instruments are not allowed to be issued to Indians, NRIs or Persons of Indian origins.
City accounts for 16.24 per cent of total bank deposits in the country
Stating that banks also have wallets for e-commerce transactions, Puri said the standalone wallet players depend on banks as an intermediary to get funds.
RBI last week lowered its economic growth forecast for the current fiscal to 6.9 per cent from the previously projected 7.1 per cent, but saw it bouncing back in a big way to 7.4 per cent in 2017-18.
Urjit Patel interview: Demonetisation will result in a downgrade of growth for a short period of time.
To reimburse debit card charges to banks; decide to restructure MDR on the basis of merchant turnover rather than slab-rate based on transaction value.
Shares of SBI rose 0.65 per cent on Thursday closing the session at Rs 270.40 on the BSE.
A mutual fund is permitted to invest only up to 5 per cent of its net asset value in units of a single issuer of alternative securities.
Speaking at the 'Momentum Jharkhand Global Investors' Summit 2017' the Union Finance Minister said cash economy has many vices as it leads to crime and tax evasion.
The Cabinet, however, hasn’t yet taken up a proposal for the merger of Bharatiya Mahila Bank with SBI.
Out of the total requirement, Rs 20,000 crore of residual tranches from the government’s ‘Indradhanush’ programme.
The merger is likely to result in recurring savings, estimated at more than Rs 1,000 crore in the first year, through a combination of enhanced operational efficiency and reduced cost of funds.
In his application, Pune-based activist Vihar Dhurve had sought to know the printing capacity to print new currency notes of Rs 2000 and Rs 500.
According to the FIR, Andhra Bank had extended working capital, bank guarantee and letters of credit worth Rs 60 crore to the company.
The worst-hit card-issuing banks in the episode included SBI, HDFC Bank, ICICI Bank, YES Bank and Axis Bank.
It is the cyber liability insurance which is in maximum demand for the banks, say insurers.
"Therefore, ...by definition, this proportionate amount is a legacy issue, although the recognition and reporting of these have taken place only recently," the RBI Governor said.
In Budget 2017-18, the government proposed amendment to the RBI Act to enable issuance of electoral bonds.
The bank’s gross non-performing assets ratio inched up to 7.23 per cent at the end of December compared to 7.14 per cent three months earlier.
The bank had reported a net profit of Rs 1,259.4 crore in the corresponding three-month period a year ago.
This way he said, poverty can be eliminated over night in a region where it (UBI) is implemented.
The CBDT recently reviewed TDS collections and found that the Income Tax department had netted Rs 2.85 lakh crore revenue till January 31.
Senior bank officials with at least three different banks told The Indian Express that the RBI in its letter sent to the banks has asked them details of all the DDs made during the demonetisation period and later cancelled.
“The government is carefully examining the report, no decision has been taken so far, as and when a decision is taken, naturally government will give it out,” Das said.