SBI said it is the bank's limited period 'Monsoon Dhamaka Offer', through which a home loan customer can gain substantially. The state-owned lender said the offer will help revive the consumer sentiments.
HDFC Bank Cardless Cash Withdrawal process: Here is how an HDFC Bank account holder can withdraw cash at the bank's ATM without carrying their debit or ATM cards.
According to the RBI, direct access for non-banks to CPS lowers the overall risk in the payments ecosystem.
The Rs 5-lakh deposit insurance cover, which was last year raised from Rs 1 lakh, will address 98.3 per cent of all deposit accounts by number, and 50.9 per cent of deposits by value, Finance Minister Nirmala Sitharaman said.
“Don’t allow all these things. You are a custodian of interest of a small man also,” the division Bench of Chief Justice D N Patel and Justice Jyoti Singh while listing a PIL, seeking regulation of the online digital lenders, for hearing on August 27.
As per RBI data on global operations, during the last three financial years, public sector banks (PSBs) have effected recovery of Rs 3,12,987 crore in non-performing assets (NPAs) and written-off loans, she said in a written reply to the Rajya Sabha.
This year, life insurance Covid claims have seen a jump of 4-5 times when compared to the last year. “As a result, insurance companies have experienced losses, with even big ones that were making profits for 10 years in a row. Health claims have also shot up with the Covid second wave hitting insurers hard,” said an insurance source.
The rise in profit was mainly on account of lower provisioning. Provisions (excluding provision for tax) fell sharply to Rs 2,852 crore during the quarter, down 62 per cent compared to Rs 7,594 crore a year ago.
During a press meet organised by the bank on Thursday to announce the first quarter results of the 2021-22 financial year, AS Rajeev, managing director and chief executive director of the bank, said their application is pending before the tribunal.
Last month, the Finance Ministry had sought details from the Swiss authorities on the relevant facts along with their view on possible reasons for changes in funds parked by Indian individuals and entities in 2020.
This is set to rise going forward as sources say that NARCL may have a capital base of Rs 6,000-7,000 crore eventually. Some private sector banks are also expected to pick up equity stake in the company.
The “bank” has ambitious plans to extend loans to buy cryptocurrencies and open savings accounts for customers. The government is also planning to bring in a law to regulate cryptocurrencies.
The bank has acknowledged that business activities remained curtailed for almost two-thirds of the quarter due to Covid-19, which has led to a decrease in retail loan originations, sale of third-party products, card spends and efficiency in collection efforts.
The Centre has set the disinvestment target for 2021-22 at Rs 1.75 lakh crore, lower than the Rs 2.1 lakh crore in 2020-21.
Das said financial inclusion is a key driver of sustained and balanced economic growth, which helps reduce inequality and poverty, and while we have made tremendous strides on this aspect, the pandemic has created newer challenges and complexities.
The RBI order will not impact existing customers of Mastercard, it said. The central bank said Mastercard should advise all card issuing banks and non-banks to conform to these directions.
He stressed on the need to push subsidy reforms and improve the quality of public expenditure. Somanathan clarified that his remarks were in his personal capacity and did not reflect the views of the government of India.
On March 23, 2021, the Supreme Court lifted the ban on NPA classification. With the asset classification standstill lifted in March 2021, the GNPA ratio of SCBs settled at 7.5 per cent in March 2021 as compared with 8.5 per cent in the quarter ended March 2020 which was largely driven by PSBs.
As part of continuing efforts to raise retail participation in G-secs and to improve ease of access, the RBI decided to move beyond aggregator model and provide retail investors online access to the
According to the RBI, banks should ensure that employees, while on ‘mandatory leave’, do not have access to any physical or virtual resources related to their work responsibilities, with the exception of internal or corporate email which is usually available to all employees for general purposes.
Razorpay, which is backed by Sequoia Capital, GIC, and others, aims to integrate MandateHQ with more than 50 banks in the next 12 months.
The government’s move, coming amid rising inflation and falling incomes, is likely to provide some relief to lower income earners and senior citizens who will continue to earn higher interest income than fixed deposits in banks.
As the economic recovery remains highly vulnerable to setbacks due to Covid, particularly if fresh outbreaks trigger new lockdowns, S&P said the banking sector’s weak loans will likely remain elevated at 11-12 per cent of gross loans in the next 12 to 18 months.
In December, the RBI acted against repeated technological outages at HDFC Bank over two years by slapping unprecedented penalties, which included a ban on any new credit card issuance and also prohibition on launching new digital initiatives.
As per the revision in service charges for BSBD accounts, State Bank of India (SBI) will levy charges ranging from Rs 15 to Rs 75 for the "additional value added services" with effect from July 1, 2021.