George Mathew
Articles By George Mathew
RBI aims for 34% rise in PoS terminals in next 2 years
The RBI has proposed increase in use of digital modes of payment for purchase of goods and services through increase in debit card transactions at PoS (35 per cent increase during the vision period) and continued growth in PPI (prepaid payment instrument) transactions.
Reserve Bank proposes 24×7 NEFT money transfer
It said the RBI would examine the need to consider uninterrupted and round-the-clock availability of various payment systems, gradual enhancement of limits, including differential day-night, holiday limits for transactions, subject to risk management and liquidity management.
‘Unfair market practices’ favour private players, say PSU insurers
The regulator has capped payments by insurers to agents and dealers at 19.5 per cent for cars and 22.5 per cent for two wheelers and brought them under its purview as motor insurance service providers from November 2017.
Explained: The importance of ITC Chairman Y C Deveshwar
According to corporate observers, Deveshwar led ITC's strategic thrust to create multiple drivers of growth that would make a significant and growing contribution to the Indian economy.
Cyclone Fani: Insurers brace for claims, IRDAI seeks quick action
nsurance regulator IRDAI stepped in on Tuesday and asked insurers to “initiate immediate action to ensure that all reported claims are registered and eligible claims are settled expeditiously”.
Series of crashes to push insurance premium, renewal costs for airlines
India’s national carrier Air India’s insurance renewal cost recently almost doubled to around $28 million this year, as a host of adverse factors put an end to the days of discounts in the segment.
Grey areas stymie financial inclusion, raise viability concerns for BCs
Many banks yet to offer AEPS, RuPay cards not activated, banks not keen on small retail money.
Wilful defaults surge by Rs 121,700 crore in 5 years
Wilful defaults have soared by Rs 121,700 crore from just Rs 39,504 crore in March 2014, according to figures published by Transunion Cibil, a credit information company.
New SBI rules link savings bank interest to repo rate: what has changed, why
SBI went ahead even though RBI had deferred the plan to link the rate of interest to external benchmarks like the repo rate or Treasury Bill rate following opposition from other banks.
Education loans fall 2.5% even as gross bank credit rises 12.3%
As these are lower ticket size loans disbursed by the PSBs, majority of them are getting classified as priority sector lending and are unsecured in nature.
Premium mobilisation of private life insurers up 22.2%, market share rises
SBI Life, with a total new premium Rs 13,792 crore, up 26 per cent and with a market share of 6.42 per cent has consolidated its position as the second largest private sector player in the country.
State Bank issues Electoral Bonds worth Rs 2,772 crore
Out of 2,742 bonds which were issued during the 15-day period, 1,264 bonds were valued at Rs 1 crore and above, SBI — the country’s largest public sector bank — said.
Public sector insurers lose market share in premium collection to private players
SBI General Insurance, which is planning to go for an IPO during the fourth quarter of FY 2019-20, has garnered a total premium of Rs 4,700 crore, up 33 per cent, during 2018-19.
Jet Airways grounded as lenders refuse bailout, 16,500 jobs up in the air
State Bank of India had this week said the bid process for “orderly sale” of equity in the airline is currently being run by SBI Caps and is being vetted by the legal team.
Bad loans: 80% of write offs in decade came in last five years
Banks wrote off a whopping Rs 1,56,702 crore of non-performing loans during the nine-month ended December 2018, taking the total loan writeoff to over Rs 7,00,000 crore in the last 10 years, according to figures revealed by the RBI.
BBB proposes more freedom to PSU banks, incentives for staff
BBB has also identified 75 personnel for intensive leadership development, in order to create a leadership pipeline.
As ‘slack season’ approaches, markets hopeful of another rate cut from RBI
With general elections around the corner, the RBI policy action will be keenly awaited and could be a sentiment booster if the central bank goes for a bigger cut.
Record foreign inflows push Sensex up 7.5 per cent in March
On Thursday, continuing the rally, the Sensex soared 413 points, or 1.08 per cent, to close at 38,545.72, while the broader NSE Nifty gained 124.95 points or 1.09 per cent, at 11,570.
Air India insurance renewal cost doubles to $28 million on growing risk factors
Host of adverse factors including recent crash of Ethiopian Airlines aircraft have put end to discounts
Public sector banks dip into employees’ pockets for capital
Staff alleges forceful subscription of shares under stock purchase scheme.
