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Friday, February 21, 2020
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RBI has many other tools to revive growth, not just interest rates: Shaktikanta Das

February 6, 2020 1:31:29 pm

"The RBI has several instruments to address the sluggishness in the growth momentum," Das told reporters at the customary post-policy conference.

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RBI keeps repo rate unchanged at 5.15%, sees GDP growth in 2020-21 at 6%

February 6, 2020 4:35:53 pm

The RBI Monetary Policy Committee (MPC) kept the repo rate unchanged at 5.15 per cent.

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To strengthen cooperative banks, Cabinet okays amendment to banking laws

February 5, 2020 5:42:18 pm

Javadekar further said this is the second important measure taken by the government to protect the interest of depositors within a week.

This shadow bank quits infrastructure, blaming ‘socialist’ India

February 5, 2020 11:34:46 am

Srei Infrastructure Finance’s decision, at a time when Prime Minister Narendra Modi is banking on private companies to contribute a quarter of a planned $1.5 trillion investment pipeline, highlights the pain non-bank financiers are facing 17 months after the collapse of the IL&FS Group.

PNB posts Rs 492-crore loss as provisions swell

February 5, 2020 12:49:30 am

The bank had reported a net profit of Rs 246.51 crore in the comparable quarter last year.

For bank deposits, private are back as the preferred choice over public

Small savings rate may see moderation next quarter: DEA secy

February 3, 2020 1:47:19 pm

During the current quarter, the government refrained from cutting interest rates on small savings schemes, including Public Provident Fund (PPF) and National Savings Certificate (NSC), despite moderating bank deposit rates.

Rajiv Kumar: ‘LIC IPO timing, size to be decided … will be completed over next one year’

February 3, 2020 4:52:53 am

The government will have to first amend the LIC Act of 1956 before taking the Corporation public.

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Nation-wide strike impacts banking services at PSU banks

February 1, 2020 11:41:32 am

The strike coincides with the beginning of the Budget session of parliament and presentation of Union Budget 2020-21. However, private sector lenders like ICICI Bank and HDFC Bank were operational.

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Kotak Mahindra, RBI settle promoter stake tussle, voting rights to be capped at 15%

January 31, 2020 5:00:06 am

The bank has also decided to withdraw the writ petition filed by it in the Bombay High Court against the RBI. The promoters — Uday Kotak — currently hold 29.96 per cent stake in the company.

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Bank Strike tomorrow: Public sector banks to go on two-day strike on Jan 31, Feb 1

January 30, 2020 7:58:28 pm

Bank Strike Tomorrow on 31st January 2020: The bank strike comes after a meeting with the Chief Labour Commissioner remained inconclusive, PTI quoted AIBOC President Sunil Kumar as saying.

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Chidambaram: Culture of lending has been practically destroyed

January 30, 2020 4:50:48 am

P Chidambaram said nothing that the BJP government will do now will revive the culture of lending that has been “practically destroyed.”

A blind watchdog: Auditors must do better to prevent fraud, financial crime

Despite 135-bp rate cut by RBI in 2019, bonds cheaper than bank loans for India Inc

January 30, 2020 4:38:30 am

The Reserve Bank of India (RBI) in calendar year 2019 reduced the policy rates by 135 basis points, which was a signal for scheduled commercial banks to follow suit.

Merger of PSBs, insurers to set the stage for reshuffle in health insurance portfolio

January 29, 2020 4:27:49 am

The government is planning to expedite the merger of three public sector general insurance companies and an indication to this effect is likely to be announced in the Budget.

A blind watchdog: Auditors must do better to prevent fraud, financial crime

Higher non-interest income helps Central Bank post Rs 155-crore profit

January 29, 2020 4:46:07 am

Total income grew 15 per cent y-o-y to Rs 7,278.29 crore. However, advances in Q3 fell 2.8 per cent to Rs 1.66 lakh crore.

HDFC Bank Q2 net profit rises about 27% to Rs 6,345 crore

HDFC Q3 net jumps 296% on Gruh Finance-Bandhan merger

January 28, 2020 4:21:57 am

According to HDFC, total individual loan approvals grew by 15 per cent and disbursements 13 per cent. The average size of individual loans stood at Rs 26.9 lakh.

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Slippage ratio to improve in FY21: BoB chief

January 28, 2020 4:32:36 am

In addition to reduced slippages, BoB will also look to improve its quarterly recovery rate, which has remained at around Rs 4,000 crore a quarter for the last few quarters.

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New Resolution Authority in works; to curb failure of large financial institutions

January 27, 2020 2:46:56 am

The mechanism proposed by the Ministry — which is likely to be brought in through a new law — envisages setting up of a Resolution Authority comprising members from financial sector regulators as well as senior government officials as its members.

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Budget may unveil income tax amnesty on lines of Sabka Vishwas

January 27, 2020 7:17:27 am

The new amnesty would enable the Centre to garner big chunks of revenue in FY21, but there is a possibility that it could commence in the current fiscal itself.

December quarter: Bank of Baroda reports Rs 1,407-crore loss on higher provisioning

January 25, 2020 5:22:56 am

BoB’s fresh bad loans shot up 73 per cent sequentially to Rs 10,387 crore and provisions surged 156 per cent year-on-year (y-o-y) to Rs 7,155 crore.

Induslnd Bank launches wealth management platform

January 24, 2020 1:47:54 pm

With no charges on non-maintenance of minimum balance, customers can enjoy the benefits of their Pioneer accounts without any worries, IndusInd Bank informed in a BSE filing.