INR 2000 can be demonetised- Subhash Chandra Garg

As we know that two years back, demonetisation took place in our country and everything changed totally. And now. The demonetizing Rs 2000 notes can be done and this suggestion is given by the former Finance Secretary Mr Subhash Chandra Garg on Thursday. Mr Garg said- the high debt levels are “a deterrent on our credit … Read more INR 2000 can be demonetised- Subhash Chandra Garg

Dormant Swiss accounts not yet claimed, may get liquidated soon

There is lot of money in the Swiss bank accounts which are linked to Indians. No One has claimed dozen of accounts yet. These funds may, therefore, get transferred to Switzerland Government. In 2015, the Swiss Government had started making a list of such dormant accounts and asked the account holders to submit the proof … Read more Dormant Swiss accounts not yet claimed, may get liquidated soon

PMC Bank- PIL on removing withdwaral restrictions listed in Delhi HC for Nov 1

According to the news, the PIL, stands for Public Interest Litigation is now removing the restrictions that were on the withdrawal from PMC bank is listed in Delhi High court. This PIL was actually originally filed by the activist named Mr Bejon Kumar Mishra on the orders of Supreme Court. On this, the advocate in … Read more PMC Bank- PIL on removing withdwaral restrictions listed in Delhi HC for Nov 1

NPCI sees UPI’s user base growing fivefold to 500 millions in three years

National Payments Corp. of India (NPCI) is expecting the growth of the user base of real-time payment system Unified Payments Interface (UPI) by fivefold to 500 million in the next three years, chief executive officer Dilip Asbe said. “UPI has recently crossed 100 million users, making it one of the fastest adoptions of any payments … Read more NPCI sees UPI’s user base growing fivefold to 500 millions in three years

PNB Housing Finance issued bonds to LIC to Raise ₹2,500 Crore

Recently PNB Housing Finance said to media that LIC has invested ₹2,500 crore in the finance company by subscribing to its secured redeemable non-convertible debentures (NCDs). As per the bank, this issuance has been made through private placement basis with a door-to-door duration of 10 years. It said that the revenue generated would be utilised … Read more PNB Housing Finance issued bonds to LIC to Raise ₹2,500 Crore

Moody’s outlook revision may become expensive for banks

As per three analysts, Moody’s Investors Service’s revision of the outlook for main Indian banks and financial institutions from stable to negative may make them to borrow on international markets in the short term. This may affect their lending rates as well. This could have implications for their lending rates, too. Moody’s on Friday agreed … Read more Moody’s outlook revision may become expensive for banks

Anil Ambani has been dragged to the court for unpaid loan of $680 million

Three Chinese banks have sued Anil Ambani who is the brother of the richest man of Asia. He has been dragged to the London court for not paying the 680$ million loan. The Industrial & Commercial Bank of China Ltd., China Development Bank and the Export-Import Bank of China provided a loan of $925.2 million … Read more Anil Ambani has been dragged to the court for unpaid loan of $680 million

RBI amended Rules for salaries of private bank directors

Reserve Bank of India has issued the revised guidelines for the salary given to the Bank executives and whole-time directors at the private banks to reduce the risks which disturb the financial structure of the organisations and to keep the governance in check. Private sector banks, foreign banks operating under the wholly-owned subsidiary mode, and … Read more RBI amended Rules for salaries of private bank directors

RBI Asked Banks to investigate the report on leaked debit and credit card information

The Reserve Bank of India (RBI) has issued a notice for the banks asking them to investigate the reports that shows that 1.3 million accounts of the debit and credit card customers were online on sale and to ensure that these details are safe. As per the news by ZDNet, RBI has also said that … Read more RBI Asked Banks to investigate the report on leaked debit and credit card information

1.3 Million Debit and Credit Card details at Sale on Dark Web

Debit and credit card details are sensitive information of the users. As per the sources, around 1.3 million credit and debit card details of the Indian banking customers are available for sale on the dark web. These information can be bought for $130 million from the dark web. This is the third largest card dump … Read more 1.3 Million Debit and Credit Card details at Sale on Dark Web

RBI rejected proposal of merger of Lakshmi Vilas Bank with Indiabulls housing finance

Laskshmi Vilas bank announced that the Central bank has not given any approval on its mereger with Indiabulls finance limited. The Lakshmi Vilas Bank (LVB) said in a stock exchange filing, “This is to inform that RBI vide their letter dated October 09, 2019, informed that the application for voluntary amalgamation of lndiabulls Housing Finance … Read more RBI rejected proposal of merger of Lakshmi Vilas Bank with Indiabulls housing finance