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

HDFC bank Launches Myapps to boost Digital payments

To be in the digital payment race, HDFC bank also launched its own app “MyApps” in India. It is an unique banking product by bank which will benefit urban local bodies, housing societies, local clubs and gymkhanas and religious institutions. This app would help the organisations to get digitalised in the business. At present HDFC … Read more HDFC bank Launches Myapps to boost Digital payments

Here is the full List of Bank Holidays in January 2020

For New year celebration, RBI has declared the bank holidays in Chenni and some northeastern state, sAizawl, Gangtok, Imphal and Shillong, banks are open across all other major cities of India.  Here is teh list of the Bank holidays of January 2020 which will help you to plan your holidays. The regular holidays that we … Read more Here is the full List of Bank Holidays in January 2020

DHFL Creditors claimed more than 87000/- crore under IBC process

As per the data on the debt-laden shadow lender’s website, Lenders, bondholders, employees and other creditors to Dewan Housing Finance Corp. Ltd (DHFL) have claimed dues of ₹87,905.6 crore under the insolvency resolution process. However, this data does not include holders of fixed deposits (FD), to whom DHFL owed ₹6,188 crore as on 6 July. The claims … Read more DHFL Creditors claimed more than 87000/- crore under IBC process

Bankers Do not need not fear CBI, CAG and CVC: Finance minister- Nirmala Sitharaman

The fear of these three C’sc which is Central Bureau of Investigation (CBI), Central Vigilance Commission, (CVC) and the Comptroller and Audit general (CAG) is big on bankers and due to this, the Finance Minister, Nirmala Sitharaman told that there won’t be any harassment by the investigating agencies and thus, bankers should not fear them. … Read more Bankers Do not need not fear CBI, CAG and CVC: Finance minister- Nirmala Sitharaman

SBI Chief explained why bank can’t go beyond threshold limit

SBI Chairman Rajnish Kumar on Saturday said its not possible for banks to go beyond the threshhold to cut interest rates on deposits as there are not enough social security schemes in India. Also it is impossible for them to lend to corporates at lower rates as it would be risky for banks. Commenting on … Read more SBI Chief explained why bank can’t go beyond threshold limit

Finance Ministry asked agencies and Govt departemnents to continue with IDBI

Recently, Finance ministry has shown concern on IDBI bank as the Central and state departments are withdrawing deposits from IDBI Bank and also they are not giving fresh deposits to the bank. In such case, the finance ministry has adviced the departments and agencies to continue their business with the IDBI bank. Finance Ministry has … Read more Finance Ministry asked agencies and Govt departemnents to continue with IDBI

PSBs disbursed Rs. 2.39 lakh crore credit in the month of November: Finance Minister

Public sector banks have disbursed the credit of Rs. 2.39 lakh crores to non bank lenders, farmers to access the fund, said finance minister. Finance ministry told that in the month of October, many loan melas and outreach camps were organized in two phases in 374 districts in the country. All these were resulted into … Read more PSBs disbursed Rs. 2.39 lakh crore credit in the month of November: Finance Minister

PMC bank found another ghost account

Punjab and Maharashtra Cooperative (PMC) Bank has been in highlights due to the fraud these days. Now the investigators of the bank fraud have found another borrower — the Abchal Group — that concealed its identity through password-protected accounts, much in the manner of Housing Development and Infrastructure Ltd. All the ghost accounts are doubted … Read more PMC bank found another ghost account