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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

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.

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

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.

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.