George Mathew


KYC norms: Aadhaar, PAN to be made must for bank a/cs if govt asks, says RBI
Sun, Apr 22, 2018

The RBI said periodic updation should be carried out at least once in every two years for high risk customers, once in every eight years for medium risk customers and once in every ten years for low risk customers.

Delay in calibrating ATMs for Rs 200 note, say banks, cash situation easing now
Thu, Apr 19, 2018

Officials said that re-calibration of ATMs to fit Rs 200 notes has been slow due to inadequate supply of these newly introduced notes.

Working with US to resolve all trade issues: Suresh Prabhu
Wed, Apr 18, 2018

Suresh Prabhu said that over four million Indians are living in the US and it is one of the major markets for goods and services exports.

Simply Put: Why India is on US currency monitoring list
Tue, Apr 17, 2018

For the first time, it meets two of three criteria: significant bilateral surplus with US; and persistent intervention in forex markets.

59 per cent of LIC cancer policies sold in Kerala, Maharashtra, Gujarat and Tamil Nadu
Mon, Apr 16, 2018

Incidentally, the first ever state-level disease burden study released last November showed that Tamil Nadu, Kerala, Maharashtra and Gujarat, which are placed higher on the development ladder, have become hubs of non-communicable diseases, including cancer.

Top Indian private banks are owned by foreigners
Fri, Apr 13, 2018

The total market value of foreign shareholding in the three private banks — ICICI Bank, HDFC Bank and Axis Bank — works out to around Rs 4,43,623 crore.

‘If some correction is required, that can be done, PSBs are vital: Dinabandhu Mohapatra
Mon, Apr 09, 2018

During demonetisation, PSBs played a major role. PSBs are vital and essential for the growth of the nation. True, there’s scope for improvement, says the MD and CEO of Bank of India.

RBI explores feasibility of launching ‘fiat’ digital currency
Fri, Apr 06, 2018

The RBI crackdown came a day after Amit Bhardwaj, the bitcoin entrepreneur who allegedly cheated over 8,000 people to the tune of Rs 2,000 crore was arrested from the Delhi Airport on Wednesday.

RBI bi-monthly policy review: Rates unchanged, growth ‘recovering’
Fri, Apr 06, 2018

The RBI has decided to put in place a system for daily reporting of individual transactions by banks.

ICICI Bank-Videocon loan: Will take appropriate action if needed, says LIC
Tue, Apr 03, 2018

"We are keeping an active watch in this matter, in view of recent developments and will take appropriate action if required," LIC said in an statement, responding to queries from The Indian Express.

Shikha Sharma’s term: Axis Bank board to engage with RBI
Tue, Apr 03, 2018

The RBI's concerns relate to among other things the rising level of non-performing assets (NPAs) or bad loans with the bank reporting a divergence of Rs 5,633 crore in the second quarter of FY18 and Rs 4,867 crore in FY17.

Wait & watch mode: RBI likely to maintain status quo again, monetary policy review on April 5
Mon, Apr 02, 2018

While the recent increase in deposit rates and marginal cost based lending rate (MCLR) by many banks has raised the prospects for an across-the-board rise in interest rates, the RBI is set for a wait-and-watch mode in its monetary policy review later this week.

Reserve Bank restarts pre-policy meets with bankers, India Inc
Wed, Mar 28, 2018

The Monetary policy committee of the RBI will meet on April 4 and 5 to finalise the policy stance.

Banks Board Bureau: Government yet to clear several proposals to boost performance of PSU banks
Tue, Mar 20, 2018

Suggestions include management revamp, risk management functions, performance linked sops.

IRDA member slammed: SAT pulls up top official, says his order ‘abetting corruption’
Mon, Mar 19, 2018

In an order issued on Friday, SAT said the order passed by the IRDAI Member on January 9, 2018 “which, in our opinion, is passed in gross abuse of the process of law and dereliction of duty”.

RBI ban on LoUs: Lenders tighten process, import costs may go up
Fri, Mar 16, 2018

Top public sector bankers meet to assess situation, confirm genuineness of the remaining LoUs.

Nirav Modi fallout: RBI discontinues LoUs, may impact trade financing
Wed, Mar 14, 2018

The RBI, in a notification to all banks, said it has decided to discontinue the practice of issuance of LoUs and letters of comforts (LoCs) for trade credits for imports into India by banks with immediate effect.

To recover Rs 265,908 crore, banks sue 17,000 defaulters
Tue, Mar 06, 2018

Figures available from Transunion Cibil Ltd show that banks filed cases against 2,000 borrowers for recovery of over Rs 47,000 crore during the 12 months ended September 2017 even as Debt Recovery Tribunals (DRTs) started speeding up disposal of cases.

The 80:20 Scheme: What is it and who benefitted from it?
Tue, Mar 06, 2018

Last week, a sub-committee of the Public Accounts Committee (PAC), a panel of parliamentarians who audit the revenues and expenditures of the union government, discussed a CAG report published in 2016 that found the scheme had resulted in a loss of over Rs 1 lakh crore to the exchequer.

Banks hike lending rates, EMIs to go up
Fri, Mar 02, 2018

According to bankers, the decision to revise lending rates as reflected in the one-year MCLR was due to the rise in deposit rates, the overall cost of funds and shortage of liquidity in the system.