The key prompter is a potential goldmine into users' financial preferences and behaviour that these e-payment platforms have on offer, alongside the acquirer getting to leverage a fully-functional payments platform.
PNB suffered a standalone net loss of Rs 12,282.82 crore in 2017-18, as against a profit of Rs 1,324.80 crore in 2016-17.
The state-owned term lender has also lined up some of its non-core fixed assets including commercial real estate for sale in 2018-19 provided they fetch good value, IFCI Managing Director E S Rao told PTI.
According to the latest report of the SLBC, Gujarat, the increasing bad loans in priority sectors, like those extended to the MSMEs (micro, small and medium enterprises, has contributed to the jump in the overall NPAs of the banks.
While extending the dispensation on provisioning, the RBI pointed out that banks have had inadequate time to build the investment fluctuation reserve (IFR) mandated by it.
The letter said that the RBI could train newly recruited computer-savvy assistants in banks for assisting this monitoring exercise, which will stand RBI in good stead without stretching its human resources too much.
The last financial year was also the worst for the sector as banks were forced to stop evergreening of bad loans and go for NPA recognition amid huge losses to their government securities portfolio following the rise in bond yields.
In the first eight months of financial year 2017-18, receipts within small savings schemes amounted to Rs 40,429 crore, a seven-fold dip from Rs 2,75,682 crore in the corresponding period of the previous year.
The AGM was attended by all the nine board of directors, including Ashok Chawla, Rana Kapoor and others.
The agency said the new NPA framework has accelerated bad-loan recognition, and should improve the health in long term.
With the raising of this capital, FDI in the bank would hit the regulatory ceiling of 74 per cent, Finance Minister Piyush Goyal said after the Cabinet meeting.
The central bank is also planning to put out a reference document to be followed by account aggregator platforms, as there are some concerns around protection of customers and their data.
BJP members Kirit Somaiya and Nishikant Dubey, sources said, called it a “biased” draft report.
In his last appearance before the panel, RBI Governor Urjit Patel was also questioned on loan restructuring programmes, which lead to ever greening of loans, and resolution of defaults under the IBC, sources had said.
The RBI data shows that the credit demand for services sector jumped 20.7 per cent in April and the demand for personal loans rose 19.1 per cent.
However, Paytm’s value share is a meagre 0.25 per cent, according to State Bank of India’s (SBI) annual report for 2017-18 which has put out Reserve Bank of India’s data for January 2018.
According to a Bank of America Merrill Lynch (BofAML) report, the FPI inflows to India will be impacted by Chinese firms listing in global benchmark indices like MSCI.
Goyal said he would work on allowing all 2.9 lakh CSC to work as banking correspondents and also explore the opportunity to set up extended bank counters at CSCs to provide banking and financial services in rural areas.
Despite repeated requests by the Ministry to relax the default norms, the central bank refused to budge. The rate hike has now ruffled feathers in the government.
The bank, with its focus on recovery of dues from defaulters, has managed to surpass the total amount recovered in the last fiscal in the first two months of this financial year, a senior PNB official told PTI.