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Thursday, January 21, 2021

Credit deceleration since 2013 due to worsening asset quality: RBI paper

December 16, 2020 3:25:38 am

The growth rate in credit offtake has steeply declined to 5.8 per cent in November 2020, as against 14.2 per cent in 2013.

Lenders to work out recast plan jointly with borrowers, says RBI

December 13, 2020 4:27:01 am

As per the RBI, borrowers do not require any resolution plan in any form to be submitted to the lending institutions at the time of request for invocation.

Restricting banking to Indian ownership a mistake: Abhijit Banerjee

December 10, 2020 8:56:44 am

Speaking During a webinar at the TiE Global Summit, Nobel laureate Abhijit Banerjee said nobody other than foreign capitalists would have the kind of fund depth to write down the debt of the Indian banking system.

Eye on high retail inflation, RBI may maintain status quo

RBI cancels licence of Karad Janata Sahakari Bank

December 8, 2020 9:00:53 pm

More than 99 per cent of the depositors of the bank will get full payment of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC), the Reserve Bank said in a statement.

Blanket interest waiver on all loans to be Rs 6 lakh crore: Centre to SC

Blanket interest waiver on all loans to be Rs 6 lakh crore: Centre to SC

December 8, 2020 8:59:44 pm

If the banks were to bear this burden, then it would necessarily wipe out a substantial and a major part of their net worth, rendering most of the lenders unviable and raising a very serious question mark over their very survival, it said.

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Bill Gates calls India’s digital finance approach a global model

December 8, 2020 7:38:08 pm

“If people are going to study one country right now, other than China, I’d say they should look at India,” Gates said at the Singapore Fintech Festival on Tuesday.

Padmaja Chunduru: ‘We have reached plateau on interest rate front … credit offtake growth at 9% on-year’

December 7, 2020 4:34:10 am

The writing is on the wall. Now, inflation is higher than expected. I think coming down of rates now may be difficult, said Padmaja Chunduru.

Halt digital launches, new credit card sourcing: RBI to HDFC Bank

December 4, 2020 12:34:57 am

HDFC Bank outage: The RBI also noted the recent outages in the HDFC Bank's internet banking and payment system on November 21, 2020 owing to a power failure in the primary data centre.

ICICI Bank Chanda Kochhar appears before ED

Chanda Kochhar sacking: SC declines to interfere with Bombay HC order

December 2, 2020 4:07:11 am

Kochhar had moved the High Court, contending that the termination was communicated months after ICICI Bank approved her voluntary resignation in October 2018. Termination from service, she said, was therefore “illegal, untenable and unsustainable in law”.

‘Credit card inquiry volumes recover from April levels; popularity rises in non-metros’

December 1, 2020 10:33:41 am

According to TransUnion Cibil, a credit information bureau, credit card popularity in traditionally cash driven, non-metro locations has risen with more consumers seeking this product.

Chandra Shekhar Ghosh: ‘Our credit growth steady … disbursement during festive season almost 95% of last year’

December 1, 2020 9:50:17 am

Chandra Shekhar Ghosh said the Reserve Bank of India (RBI) internal working group’s recent suggestions of allowing higher promoter shareholding would strengthen banks, while any licences to corporate houses should be subject to greater supervisory regulations.

Banks in India to see capital decline over two years without fresh infusion: Moody’s

November 30, 2020 5:23:25 pm

In a report, Moody's said the uncertain trajectory of asset quality is one of the biggest threats for emerging market banks, as operating conditions remain challenging amid the current COVID pandemic.

Lakshmi Vilas Bank customers can access all services; no change in interest rates as of now: DBS

November 30, 2020 4:35:49 pm

Lakshmi Vilas Bank (LVB) has now been amalgamated with DBS Bank India Ltd (DBIL), the wholly-owned subsidiary of DBS Group Holdings Ltd, DBS Bank India said in a statement.

RBI likely to maintain status quo for 3rd straight time on inflation concerns

RBI likely to maintain status quo for 3rd straight time on inflation concerns

November 29, 2020 7:24:09 pm

The six-member Monetary Policy Committee (MPC) headed by RBI Governor is scheduled to meet for two days starting December 2. The resolution of the sixth bi-monthly MPC meeting would be announced on December 4.

Blanket interest waiver on all loans to be Rs 6 lakh crore: Centre to SC

Bank loan outstanding shrinks in FY21 so far; home, industry credit growth fall

November 29, 2020 1:21:36 am

Credit growth to the services sector accelerated to 9.5 per cent in October 2020 from 6.5 per cent in October 2019.

Banking ops at PSU banks affected by nationwide strike against central govt's policies

Bharat bandh: Operations at PSU banks partially affected; 18,000 employees go on strike in MP

November 26, 2020 6:56:33 pm

The strike by unions is aimed against the anti-labour policies of the central government and bank employees are reported to be protesting against the privatisation of banks, outsourcing and contract system in jobs in the sector, AIBEA general secretary C H Venkatachalam told news agency PTI.

Operations at PSU banks partially hit due to trade union strike

November 26, 2020 1:43:46 pm

Many lenders including Bank of Maharashtra had informed customers in advance that normal working could be affected at the branches and offices due to the strike.

Lakshmi Vilas Bank to operate as DBS Bank India from tomorrow

November 26, 2020 10:52:59 am

The terms of the amalgamation of Lakshmi Vilas Bank (LVB) with DBS Bank have upset stock investors. The bank had a market capitalisation of nearly Rs 500 crore till Tuesday.

lakshmi vilas bank

Cabinet approves merger of Lakshmi Vilas Bank with DBS Bank India

November 25, 2020 8:54:42 pm

Lakshmi Vilas Bank - DBS Bank Merger: With this there will no further restrictions on the depositors regarding withdrawal of their deposits, Union Minister Prakash Javadekar informed in the briefing to the reporters.

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Fee on money transfers for US, doesn’t apply to India: Google Pay

November 25, 2020 3:42:39 pm

Google Pay had 67 million users in India with a total payment value of USD 110 billion on an annualised basis, as of September 2019.

State Bank of India raises Rs 2,500 crore from bonds

November 24, 2020 6:05:59 pm

The bonds of face value of Rs 10 lakh each, at par, bearing a coupon of 7.73 per cent per annum payable annually with call option after five years and on anniversary dates thereafter, aggregates to Rs, 2,500 crore, SBI said.

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Bank employees body AIBEA to join trade unions in nationwide general strike on Nov 26

November 24, 2020 5:52:20 pm

The association represents the majority of the banks except State Bank of India and Indian Overseas Bank. It has four lakh bank employees from various public and old private sector and a few foreign banks as its members.

Raghuram Rajan and Viral Acharya

Proposal to allow corporate houses to set up banks a ‘bombshell’: Rajan, Acharya

November 23, 2020 6:00:34 pm

They also said that the proposal is "best left on the shelf".

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S&P sceptical of allowing corporates into Indian banking sector

November 23, 2020 4:17:29 pm

Former RBI governor Raghuram Rajan, and former deputy governor Viral Acharya also criticised the proposal, calling it a "bad" idea.

RBI likely to maintain status quo for 3rd straight time on inflation concerns

RBI committee for conversion of large NBFCs into banks, entry of corporates

November 21, 2020 7:28:16 am

The Internal Working Group of the RBI, headed by PK Mohanty, has said “large corporates and industrial houses may be allowed as promoters of banks only after necessary amendments to the Banking Regulation Act, 1949”