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

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

Most of the CBI fraud cases are based on Bank Plaints

Amid apprehensions of “undue harassment” by the three Cs — the CBI, the Central Vigilance Commission and the Comptroller and Auditor General (CAG), figures show that most of the 90-odd bank fraud cases registered by the CBI this year were based on complaints from lenders. In a major crackdown, when the CBI registered 42 cases … Read more Most of the CBI fraud cases are based on Bank Plaints

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

RBI defends the approval of termination of Chanda Kochhar

The Reserve Bank of India (RBI) told the Bombay High Court that the decision it took to grant approval to ICICI Bank for termination of appointment of Chanda Kochhar as MD and CEO was not ant arbitrary decision, and was fair. Last month, central bank files an affidavit in response to a Kochhar’s petition, challenging … Read more RBI defends the approval of termination of Chanda Kochhar