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PM Modi launches RBI Retail Direct Scheme and Integrated Ombudsman Scheme

November 12, 2021 12:02:29 pm

The RBI Retail Direct Scheme is aimed towards enhancing access to the government securities (G-Secs) market for retail investors, while the Reserve Bank - Integrated Ombudsman Scheme aims to improve the grievance redress mechanism for resolving customer complaints against entities regulated by RBI.

Five mutual fund strategies to keep in mind as markets hit new highs

November 9, 2021 9:55:44 am

Here are five factors an investor should keep in mind when markets are touching all-time highs.

SBI Q2 consolidated profit surges 69% to Rs 8,890 crore

November 3, 2021 2:44:07 pm

The total income of the SBI group rose to Rs 1,01,143.26 crore in the quarter under review, compared to Rs 95,373.50 crore in the year-ago period.

RBI eases current a/c rules for exposures below Rs 5 cr

October 30, 2021 2:28:29 am

In respect of borrowers where exposure of the banking system is Rs 5 crore or more, such borrower can maintain current accounts with any one of the banks with which it has CC or OD facility.

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Steering economy during Covid gets Das 3 more yrs at RBI helm

October 30, 2021 4:07:54 am

The re-appointment of the RBI governor will be effective from December 10 or until further orders, whichever is earlier.

Kotak Mahindra Bank reports 7% fall in September quarter profit at Rs 2,032 crore

October 26, 2021 2:29:59 pm

Total income during July-September period of 2021-22, however, grew to Rs 8,408.87 crore, as against Rs 8,252.71 crore in same period of 2020-21, Kotak Mahindra Bank said in a regulatory filing.

Five ways the Account Aggregator framework will benefit customers

October 22, 2021 6:52:05 pm

Account Aggregator (AA) has come as a boon to individuals and small businesses alike as it is expected to address the credit gap in the country.

PSU banks likely to get capital support in Q4 to meet regulatory requirements

October 21, 2021 5:54:53 pm

The government in the Budget 2021-22 has made an allocation of Rs 20,000 crore for the capital infusion in the state-owned banks.

HDFC Bank Sept qtr profit up 17.6 per cent; gross NPAs rise on-year

October 17, 2021 3:50:30 am

Gross non-performing assets (NPAs) of the private sector lender were Rs 16,346 crore — 1.35 per cent of advances in the second quarter of FY22 — as against Rs 11,304 crore (1.08 per cent) in September 2020.

After red flags, PNB Housing Finance calls off its Rs 4,000-crore Carlyle deal

October 15, 2021 7:35:06 am

PNB Housing has terminated the share subscription agreements executed with Pluto Investments, an affiliated entity of Carlyle Asia Partners IV, and Carlyle Asia Partners V, which entailed an investment of Rs 3,185 crore.

RBI Dy Guv: Banks will have to prepare for capital account convertibility

October 15, 2021 3:26:51 am

Convertibility refers to the ability to convert domestic currency into foreign ones and vice versa to make payments for balance of payments transactions.

Centrum, BharatPe get licence to set up Small Finance Bank

October 13, 2021 3:25:09 am

“A new bank license has been issued after a gap of nearly 6 years, and we thank the RBI for the confidence shown in the abilities of Centrum and BharatPe,” Centrum said. The new SFB has been incorporated as ‘Unity Small Finance Bank’, it said.

HDFC Bank launches Festive Treats 3.0 with over 10,000 offers

October 5, 2021 4:40:17 pm

Customers can avail car loan starting at 7.50 per cent with zero foreclosure charges and funding of up to 100 per cent on two-wheeler loans and four per cent less on interest rates, the bank said.

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IndusInd Bank records 10% loan growth in September quarter

October 5, 2021 3:09:04 pm

Net advances stood at Rs 2,01,247 crore at the end of the second quarter of the last financial year, IndusInd Bank said in a regulatory filing.

Account Aggregators, what are Account Aggregators

Account Aggregators – the new buzzword in the financing world!

October 4, 2021 7:22:02 pm

The need for Account Aggregators (AAs) comes in at a crucial point when credit disbursement, especially to the credit-starved MSMEs or the underbanked individuals, needs to become simpler. It has been reported that only 10 per cent of small businesses in India have access to formal credit.

Rapid growth, increasing adoption of crypto assets pose financial stability challenges: IMF

October 2, 2021 1:09:24 pm

Crypto asset technologies have the potential as a tool for faster and cheaper cross-border payments, said the IMF in its chapter titled The Crypto Ecosystem and Financial Stability Challenges.

Auto-debit on credit card rule changes from tomorrow: Here’s what you need to know

September 30, 2021 7:58:41 pm

The RBI had earlier extended the timeline for banks and other institutions to migrate to the framework for processing of e-mandates on recurring online transactions by six months.

IOB out of PCA watchlist

September 30, 2021 10:07:47 am

The lender has also apprised the RBI of the structural and systemic improvements that it has put in place, which would help the bank in continuing to meet these commitments.

Covid cover claims at Rs 31,624 crore; Maharashtra leads

September 29, 2021 12:02:40 pm

As of Monday, firms had settled 22.38 lakh claims worth Rs 20,430 crore, with the money going to the health sector. A total of 1.81 lakh claims for Rs 1,319 crore have been repudiated, according to figures compiled by the General Insurance Council. The figures also show a massive jump in the health portfolio of insurers.

Data privacy should not be compromised in using fintech: FM Sitharaman

September 28, 2021 5:06:56 pm

Addressing the fintech industry, the minister said the value of digital transactions jumped to Rs 6 lakh crore in January-August 2021 from Rs 4 lakh crore and Rs 2 lakh crore in 2020 and 2019, respectively.

Private bank deposit share rises to 30.5% at the cost of PSBs: RBI

September 24, 2021 3:44:05 am

Private banks account for about half of the deposits of financial and non-financial corporations as well as rest of the world sectors, the RBI said. Out of total Rs 154.43 lakh crore deposits, private banks account for Rs 46.23 lakh crore as of March 2021.