Demands of Bank employee union from Finance minister before Budget 2020

When Finance Minister Nirmala Sitharaman would be reading out her second Budget speech in Parliament on February 1, thousands of bank employees across the India might be sitting on a bank strike. Although the bank employees’ unions do not expect any sops for them in Budget 2020-21, yet they want the intervention of the finance minister … Read more Demands of Bank employee union from Finance minister before Budget 2020

To identify Aditya Puri’s successor, HDFC bank to tap Egon Zehnder

In order to find the successor to managing director Aditya Puri, the bank, HDFC will retain the global executive search Egon Zehnder. Puri is at helm of the country’s largest private lender since 1994. he is also an advisor to the search committee. On this, a member of committee said- “The latest decision to hire … Read more To identify Aditya Puri’s successor, HDFC bank to tap Egon Zehnder

Yes Bank will not be allowed to fail: SBI chairman

The SBI chairman recently said that he is sure “some solutions will emerge” to steady Yes Bank Ltd., which has been trying to raise new capital. “Yes Bank is a significant player in the market with an almost $40 billion balance sheet,” State Bank of India Chairman Rajnish Kumar told Bloomberg Television in Davos. “I have a … Read more Yes Bank will not be allowed to fail: SBI chairman

RBI pre-empts RTI by releasing minutes of October board meet

On 11 October to public, RBI disclosed the minutes of its central board meeting, as part of its intent to lift the veil of secrecy shrouding its operations. This was the first time when RBI has shown the proceedings of its central board to the public, even though key portions remain redacted. The minutes of … Read more RBI pre-empts RTI by releasing minutes of October board meet

Categories RBI

RBI told Urban Cooperative Banks to Report Credit of 5 Crore Rupees and above

The Reserve Bank of India (RBI) on recently ordered the urban cooperative banks (UCBs) to report exposures of ₹5 crore or more to a central repository, within a month of end-of-quarter. “The banks need to submit the data on large exposures within 30 days from the end of the quarter through XBRL reporting platform of … Read more RBI told Urban Cooperative Banks to Report Credit of 5 Crore Rupees and above

Categories RBI

HDFC Bank will Seek Approval from RBI For Aditya Puri’s Successor

As per a senior official of the bank, HDFC bank is going to seek approval of RBI for the replacement of the Aditya Puri. After the December quarter’s results, Sashidhar Jagdishan, executive director, HDFC Bank, said that the board of directors have agreed upon the search firm that is going to help in the process. … Read more HDFC Bank will Seek Approval from RBI For Aditya Puri’s Successor

UBS: Indian Banks are facing risk of $15 billion telecom dues

According to the UBS Group AG, due to the Supreme Court’s rejection of the appeal made by wireless carriers to review $13 billion they owe to the government raises risks for lenders to the companies. These pending payment of the dues disturb the telecom operators’ cash flows, especially those of Vodafone Group Plc’s India venture. … Read more UBS: Indian Banks are facing risk of $15 billion telecom dues

IDBI Bank will Meet RBI to ask for removal of PCA framework

IDBI bank, owned by LIC is currently under prompt corrective action since May 2017 when RBI put restrictions. The bank may hold a meeting with the RBI this week to seek removal of operational restrictions, according to sources. As per the sources, the bank will give a presentation to the Reserve Bank of India showing its improved financial … Read more IDBI Bank will Meet RBI to ask for removal of PCA framework

RBI changes the rules of Penalty on Payment of system operators

The Reserve Bank of India (RBI) on Friday changed some of the norms for penalties on payment system operators for non compliance of the regulations. This was to ensure the safety and security to various stakeholders, including customers. Due to the advanced technology, availability of payment products, entry of more nonbank players, dis-intermediation, and significant … Read more RBI changes the rules of Penalty on Payment of system operators

RBI restricted Bangaluru Privat Banks from doing Business

The Reserve Bank of India (RBI) has restricted the Bengaluru-based private bank from doing business due to the alleged irregularities in transactions, an official said on Saturday. “Sri Guru Raghavendra Sahakara Bank in Bengaluru shall not, without prior approval of the RBI in writing, grant or renew loans and advances, make investment, borrow funds or … Read more RBI restricted Bangaluru Privat Banks from doing Business

Yes bank board gave approval to 10000 crore, but reject Braich’s $1.2 bn offer

The board of private lender Yes Bank met on Friday and approved raising of funds of up to ₹10,000 crore in one or more tranches through a qualified institutional placement (QIP), or any other private placement of equity or debt, the bank said. On 30 November, Yes Bank said that a number of investors had shown interest in … Read more Yes bank board gave approval to 10000 crore, but reject Braich’s $1.2 bn offer