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Monday, April 06, 2020
Reserve Bank of India, RBI, banks bad loans, banking fraud oversight, banking fraud cases, india bank frauds

Reserve Bank setting up exclusive wing for banking fraud oversight

April 6, 2020 3:02:03 am

The banking regulator is also planning to bring in experts from the private sector working in all these domains to train the new members in the fraud oversight wing. These training sessions are will be repeated every year in the initial years, the sources said.

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Life insurance policyholders get additional 30 days to pay premium

April 5, 2020 5:05:07 pm

IRDAI further said that life insurers "may offer settlement options" in accordance with relevant regulation where unit-linked policies mature (up to May 31, 2020) and fund value is to be paid in lumpsum.

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Coronavirus lockdown: Banks to deposit Rs 500 in women Jan Dhan accounts from today

April 3, 2020 2:37:54 am

“Under Pradhan Mantri Garib Kalyan Package, a sum of ·500 per month is being deposited into the accounts of Women Jan Dhan Yojana beneficiaries by all Banks. This is first of the monthly instalments,” Indian Banks’ Association said in a statement on Thursday.

Sanjiv Chadha: Pressure on individual borrowers should be less after 3 months

April 3, 2020 2:35:06 am

We’re now living in difficult times. There are physical challenges in terms of people transacting in their accounts, coming to the branches and the lockdown.

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Despite RBI liquidity push, banks stare at fresh NPAs

April 3, 2020 8:03:27 am

It is learnt there was a concern among bankers that even if the lockdown is lifted on April 14, operations of a number of companies in specific sectors will not see business getting back to normal as the labour has moved out and the production may not be able to restart.

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RBI loan moratorium: List of banks offering ‘opt-in’ and ‘opt-out’

April 2, 2020 2:51:43 pm

Most of India's private sector banks such as HDFC Bank, ICICI Bank and Kotak Mahindra Bank have decided to go for the 'opt-in' option for their customers and have asked them to inform the bank in case they wish to opt for the three-month moratorium period.

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All you need to know about HDFC Bank’s EMI moratorium

April 2, 2020 9:49:21 am

A look at HDFC Bank's note on term loan moratorium and the details of the moratorium provided to its customers according to details furnished on its website.

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PPF, senior citizens savings see deep cut in interest rates

April 1, 2020 7:28:52 am

The interest rate for Senior Citizens Savings Scheme has been slashed to 7.4 per cent from 8.6 per cent, while that for National Savings Certificate has been cut to 6.8 per cent from 7.9 per cent.

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Cash management, ops of banking correspondents take a hit in rural areas

March 31, 2020 2:24:45 am

The Indian Banks Association, meanwhile, has advised customers that most banking services are available online.

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Rules for relaxation in withdrawal criteria from EPF accounts notified

March 29, 2020 7:40:02 am

In a communication to field offices, EPFO has said officers should be made aware about changes so that such claims are “processed promptly and relief reaches the worker and his family to help them fight with COVID-19”.

India’s budget under strain on Day One of new fiscal year

India lockdown: Banks are certain they’ll ensure customer service without disruption, says FM

March 29, 2020 7:40:46 am

India lockdown: The minister said she will discuss with states and ensure there are no restrictions on the movement of cash, bankers, vendors or bank mitras.

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Despite objections by own panel, RBI allows banks in NDF market

March 28, 2020 1:04:03 am

The RBI took the decision despite the recommendation by a task force set up by it against allowing banks in the NDF market.

Coronavirus impact: RBI cuts repo rate by 75 bps to 4.4%, reverse repo cut by 90 bps to 4%

March 27, 2020 5:25:25 pm

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) which met on March 24, 26 and 27 had a majority of 4-2 towards the favour of a 75 bps repo rate cut.

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PSBs unveil emergency line of credit to aid borrowers reeling under virus

March 26, 2020 3:00:17 am

Banking sources said more PSBs are likely to come with similar schemes in the coming days to bail out borrowers and needy customers, in the wake of the overall decline in the business.

Relax NPA norms, increase liquidity and cut rates, says Aditya Puri

March 24, 2020 3:43:58 am

As the spread of the coronavirus is creating a scare in society, business and markets, Aditya Puri, MD at HDFC Bank, told Sandeep Singh that while monetary policy should look to relax NPA norms, increase liquidity and cut repo rate, the government should focus on limiting spread of virus, providing stimulus and not prioritise fiscal […]

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RBI extends regulatory restrictions on PMC for three more months

March 21, 2020 6:39:52 pm

The central bank had last imposed regulatory regulations on PMC for six months on September 23, 2019 citing various irregularities, hiding and misreporting of loans given to real estate developer HDIL.

R Gandhi, Ananth Narayan on board of Yes Bank as additional directors

March 21, 2020 5:22:09 am

As of December 2019, the bank incurred a quarterly loss of Rs 18,564.25 crore and a period to date loss of Rs 19,097.78 crore. Subsequent to this period, the bank’s deposit base has seen a further reduction to Rs 1,37,506 crore.

Yes Bank used Rs 200 crore loan for HDIL to pay off its own debt: ED

Yes Bank crisis: Rana Kapoor sent to 2-day judicial custody; CBI seeks warrant in separate case

March 21, 2020 5:23:57 am

The former MD and CEO of Yes Bank, who was arrested on March 8, was produced by the ED before the special court on Friday, with the Directorate submitting before the court that his custody was no longer needed and he could be sent to jail.

Yes Bank administrator Prashant Kumar reassures safety of deposits

March 19, 2020 5:38:39 pm

Yes Bank has also extended banking hours across branches for its senior citizen customers, from March 19 to March 27, 2020 - 4.30 pm to 5.30 pm.

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Govt transfers 8 executive directors of state-run banks

March 19, 2020 3:47:26 pm

Besides Rajagopal, all the appointments have been made with effect from April 1, 2020.