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| 30 November, 2020, 05:05 PM IST | E-Paper
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    Banking

    Banks in India to see capital decline over 2 years without fresh infusion: Moody's

    "In the Asia Pacific region, banks' rising nonperforming loans and insurers' volatile investment portfolios are in focus. Capital will moderately fall in emerging Asia over the next two years, and banks in India and Sri Lanka will post larger capital declines without public or private injections," Moody's said.

    Lakshmi Vilas Bank customers can access all services; no change in interest rates as of now: DBS

    The amalgamation of LVB into DBS Bank India came into effect from November 27 under the special powers of the government and the Reserve Bank of India under Section 45 of the Banking Regulation Act, 1949.

    Singapore's DBS says it has completed takeover of distressed Lakshmi Vilas Bank

    Southeast Asia's largest lender, which will pump in 25 billion rupees ($338 million) into its India unit, until recently had just over 30 branches in India but has now added more than 550 and 900-plus ATMs.

    Consumers going back to credit cards as inquiries exceed October '19 levels: Transunion Cibil

    Social distancing rules have forced consumers to rethink how they spend, with digital payments becoming an increasingly attractive. This shift in mindset is reflected in the growth in outstanding balances. Credit card outstanding balances increased by 32% y-o-y in July 2020. This compares to a 33% y-o-y increase in balances at the same time last year.

    An RBI working group insider explains the thinking behind businessmen-as-bankers recommendation

    "We have suggested revisiting the fit-and-proper criteria. We have said that financial conglomerates getting into banking should have a structure NOFHC to come through and that companies should be regulated through RBI guidelines and necessary legislative framework," says Sachin Chaturvedi who is on RBI's central board.

    Jan Dhan accounts, direct cash transfers from government boost ATMs in rural areas

    ATM players say that the main reason is that over seven years, the number of debit cards in India has doubled to 86 crore as of September 2020. And of those cards, 35 per cent (30 crore) are RuPay ones issued to PM Jan Dhan Yojana accounts.

    Banks closed on November 30 on account of Guru Nanak Jayanti

    November this year saw a substantial number of bank holidays. There were quite a few nationwide holidays as well as some state-specific ones.

    Large banks may move RBI to tweak loan rejig rule

    According to another banker, not too many companies are going for loan restructuring — partly because they do not want it to be recorded in their credit history, and partly due to the stiff conditions laid down by the Kamath committee.

    RBI may keep policy rates unchanged

    Bankers will watch out for any guidance on how the RBI plans to manage the record excess liquidity in the financial system, which has distorted market conditions and led to a drop in short-term rates.

    Government opposes further loan moratorium

    The government, through Solicitor General Tushar Mehta, told a bench led by Justice Ashok Bhushan that it had already extended the loan moratorium scheme for small borrowers and waived interest on interest. “Any such relief sector-wise would be a problem under Article 32,” he said.

    Delhi High Court stays RBI's show cause notice to UVARCL

    Delhi High Court stays RBI's show cause notice to UVARCL

    The Delhi High Court on Friday stayed a Reserve Bank of India notice warning of possible cancellation of UV Asset Reconstruction Company Ltd’s (UVARCL) registration, over what the central bank termed an illegal bankruptcy resolution proposal moved by the ARC for telecom firm Aircel.

    Lakshmi Vilas Bank becomes DBS India; 94-year old bank part of history now

    Lakshmi Vilas Bank becomes DBS India; 94-year old bank part of history now

    The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday.

    RBI has set precedence in LVB bond write-off, will hurt other banks: Report

    RBI has set precedence in LVB bond write-off, will hurt other banks: Report

    During the Yes Bank rescue earlier this year also, there was an over Rs 7,000-crore bond write-off, but that involved a different instrument called additional tier-I bonds.

    View: Why a rush from large corporate and industrial houses to own banks is still very unlikely

    View: Why a rush from large corporate and industrial houses to own banks is still very unlikely

    Reactions to the recommendation allowing industrial houses to own banks have been strident. The main contentions being that India had eschewed large corporate houses from owning banks for over 50 years for good reasons that still stand. So, goes this line of thinking, it isn’t — at least now —the right time to change the policy.

    Court rejects ED intervention plea against closure report in MSC Bank case

    Court rejects ED intervention plea against closure report in MSC Bank case

    A court here on Thursday rejected the Enforcement Directorate's plea seeking to intervene in the hearing on a closure report of Mumbai Police in the alleged Rs 25,000 crore Maharashtra State Co-operative Bank scam.

    Bombay High Court refuses Lakshmi Vilas Bank promoters' plea to stay merger with DBS

    Bombay High Court refuses Lakshmi Vilas Bank promoters' plea to stay merger with DBS

    "We are refusing the interim relief sought by the petitioners to stay the amalgamation. The petitions shall be placed for hearing on December 14 when the respondents (Reserve Bank of India, LVB and DBS Bank India) shall file their affidavits in reply," the court said.

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