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

RBI announced measures to push Online transactions

The Reserve Bank of India (RBI) announced some measures to push the online transactions in India. It includes the removal of charges on Online fun transfer system National Electronic Funds Transfer (NEFT), introducing interoperable system such that FASTags, which you can use to pay the fuel, parking or any other kind of fees. The Reserve … Read more RBI announced measures to push Online transactions

Categories RBI

ICICI Bank Introduced an FD scheme with Free Insurance. Is it Good?

Recently ICICI Bank has launched a new scheme of Fixed Deposit of FD health. As per this scheme you would get the double advantage of a Fixed deposit and a Health insurance which will be of Rs. 1 Lakh. “This offering is a first in the industry and provides advantage of safety and growth of … Read more ICICI Bank Introduced an FD scheme with Free Insurance. Is it Good?

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 Bank Suggested stronger corporate governance in core investment companies

The panel which has been set up by the Reserve bank of India has recently suggested that the core investment companies need stronger corporate governance practices, which includes the formation of the board-level committees, internal audits and the appointment of the independent directors. These recommendations were submitted by the WG (working group) to Review the … Read more RBI Bank Suggested stronger corporate governance in core investment companies

Categories RBI

RBI penalized Mehsana’s Gujarat Based Urban Co-operative bank

RBI has recently penalised the Gujarat Based Mehsana Urban Co-operative Bank for contravention of norms on ‘loans and advances to directors, relatives and firms/concerns in which they are interested’. It said that the penalty was imposed through an order. The central bank, after the statutory inspection on March 2018 said that the penalty was “for … Read more RBI penalized Mehsana’s Gujarat Based Urban Co-operative bank

Categories RBI

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