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.
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.
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.
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.
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.
“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.
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.
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.
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”.
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 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.
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 (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.
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.
Credit growth to the services sector accelerated to 9.5 per cent in October 2020 from 6.5 per cent in October 2019.
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.
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.
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 - 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.
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.
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.
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.
They also said that the proposal is "best left on the shelf".
Former RBI governor Raghuram Rajan, and former deputy governor Viral Acharya also criticised the proposal, calling it a "bad" idea.
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”