BANKS
HDFC Bank submits plan of action to RBI, hopes to fix outage issue in 3 months
The action plan will take 10-12 weeks for implementation, and further timeframe will depend on the RBI's inspection. Based on the satisfact...
RBI imposes Rs 2 crore penalty on Standard Chartered Bank
The monetary penalty has been imposed on the bank for non-compliance with certain directions contained in the 'Reserve Bank of India (Fraud...
Ahead of banking recapitalisation, taking stock of the country's banking sector
A bad bank is an entity that acquires NPAs from banks, leaving them to focus on core banking matters.
Budget 2021 may keep aside Rs 25,000 crore for capital infusion in public sector banks
In its latest Financial Stability Report released earlier this month, the Reserve Bank of India (RBI) said public sector banks’ gross non-p...
Public sector banks lead in loan revival as private banks fear defaulting
Public sector banks are seeing their loan book growing across all major segments agriculture, retail, MSMEs, personal loans except corporat...
HDFC, ICICI, SBI remain systemically imp banks: RBI
The Reserve Bank had issued the framework for dealing with D-SIBs in July 2014. The D-SIB framework requires the central to disclose the na...
HDFC Bank submits outage control plan
The bank is working on multiple immediate and long-term solutions as part of its internal review. “The action plan that the bank is working...
Citi appoints Arjun Chowdhry as head of global consumer banking, India
Arjun Chowdhry will join the Asia consumer leadership team, ensuring alignment with global and regional priorities and attracting the right...
Banks parked Rs 2 trillion excess cash amid RBI signalling
The cut-off yield, above which banks cannot claim a rate for parking excess cash, was at 3.55 percent. That was higher than the average mar...
IDFC First Bank enters credit card business
Generally, the annual percentage rate or the APR for other banks ranges from 34-40%. Customers can also use interest-free cash withdrawal f...
Govt decides not to issue anymore zero coupon bonds for banks’ recapitalisation
The government had relied on zero coupon bonds for the first time last year when it used it to infuse Rs 5,500 crore in state-owned-Punjab ...
Banks rely on farmers for new loans
Economists attribute this trend to farm sector doing better than the urban-centric sectors like industries and services during the pandemic...
RBI imposes Rs 2 crore penalty on Deutsche Bank
The action, the RBI added, was based on the deficiencies in regulatory compliance and was not intended to pronounce upon the validity of an...
Indian banking's digital drive is looking increasingly bright for banking correspondents
Thanks to their role in taking banking and financial services to the last mile, several ecommerce players are interested in tapping them to...
View: Bad bank is a good idea, but India's debt-laden banks need a better plan
How does one make bad loans seamlessly move from banks to investors who love dealing in junk? How does one make such deals part of a normal...
The future of banking: Lessons from the DBS takeover
The credit-starved Indian market provides a opportunity for universal banks to explore and grow profitably.
Shivalik Bank gets license as Small Finance Bank
Shivalik bank has over four lakh customers and a total business size of Rs 1,800 crore as on March 31, 2020. The total advances stood at Rs...
Bank of Baroda launches WhatsApp banking services
The lender is offering services such as balance enquiry, mini statement, cheque status enquiry, cheque book request, blocking debit card an...
Post Office Savings Bank likely to be interconnected with other banks by April
The postal department during the lockdown was at the frontline to deliver essential parcels when rail, road and air traffic were grounded a...
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