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RBI writes to Fin Min seeking changes in Banking Regulation Act

The Reserve Bank of India (RBI) has written to Finance ministry seeking changes in the Banking Regulation Act. Changes like authority to control the Urban Cooperative Banks along with certain administrative power as well.

Nepal SBI post 13 per cent growth in net profit for FY19

Nepal SBI Bank, a subsidiary of State Bank of India, has posted a Rs 229.25 crore net profit for 2018-19, registering a growth of 13.29 per cent. The bank mobilised total deposit of Rs 9,792.45 crore and extended loans and advances of Rs 8,864.47 crore at the closing of the year, according to a statement issued by the bank ahead of its Annual General Meeting.

NCLT admits Bank of India's insolvency process against RNA Corp

The public sector lender had granted a loan of Rs 75 crore to RNA Corp in October 2013 and the builder defaulted on repayment of this loan in December 2014, since then the account has been classified as a non-performing asset. The bank has claimed total dues worth Rs 80.73 crore including the principal loan, interest, penal interest and legal expenses.

NEFT transactions to be made 24x7 from December 16

Bank customers will be able to transfer funds through NEFT around the clock on all days including weekends and holidays from December 16, the Reserve Bank of India announced on Friday.

Panel to assess value of assets mortgaged by PMC borrowers

The bank is currently undergoing a forensic audit the report for which will be finalised by the end of this month. But simultaneously, other assets and mortgages are also being identified by investigation agencies and the banking regulator to get back the bank’s dues.

Maharashtra government wants PMC Bank to merge with MSC Bank

"The government stands behind the PMC Bank depositors. I have spoken with the MSC Bank director and asked him to consider a merger of the two banks to provide relief to the depositors," Patil told mediapersons here this afternoon. He assured that the state's apex cooperative banking entity.

RBI expects forensic audit report on PMC Bank by month-end

The multi-state co-operative bank has been under the RBI restriction since September 23, after it had found financial irregularities, including huge under-reporting of loans and non-performing assets to real estate developer HDIL to the tune of Rs 6,500 crore using hundreds of dummy accounts.

RBI investigating 'net banking' breakdown at HDFC Bank

Following the outage, several HDFC customers were unable to access their salary accounts to make bill payments.

CIC issues show-cause notice to RBI for casual approach to its notice

In the show-cause notice, Chandra directed the CPIO why penal action under Section 20(1) of the RTI Act should not be initiated against him. This is not the first time that the RBI had to face the ire of CIC as former Information Commissioner Sridhar Acharyulu had summoned then RBI Governor Urjit Patel for not following Supreme Court orders on RTI implementation.

Maha govt suggests merger of troubled PMC Bank with MSC Bank

The PMC Bank has been put under restrictions by the RBI, after an alleged Rs 4,355 crore scam came to light following which the deposit withdrawal was initially capped at Rs 1,000, causing panic and distress among depositors. At least eight depositors, who had high quantum of money stuck with the bank, died in the last couple of months, including one who committed suicide.

Forensic audit on PMC scam expected by month-end: Shaktikanta Das

Forensic audit on PMC scam expected by month-end: Shaktikanta Das

"There is a forensic audit underway. We will get the report by the end of this month. Assessment of the realisable value of the assets of the bank is also on," Das told reporters after the announcement of the monetary policy.

Maveric Systems rolls out academy to groom data technology experts

Maveric Systems rolls out academy to groom data technology experts

The academy was founded by the company as a response to train big data technologists to address banks’ digital transformation challenges. The platform will serve as a means to upskill and cross-skill fresh graduates, interns and existing employees, and then deploy them on live projects.

RBI satisfied with pace of monetary transmission

RBI satisfied with pace of monetary transmission

He further said transmission, which was bothering the central bank for a long time, is expected to improve with the introduction of linking loan pricing to external benchmark system, which banks have adopted now.

Indian government's loan bonanza seen a temporary salve and a long-term pain

Indian government's loan bonanza seen a temporary salve and a long-term pain

Reviving a practice not used in three decades, India's government in September ordered state-run banks to hold more than 400 loan "melas" or fairs across the country over the following month - a measure aimed at boosting economic growth at six-year lows and lending growth at its weakest in three years.

RBI's customer protection rules will benefit depositors

RBI's customer protection rules will benefit depositors

The complainants used two ATMs in this locality and were duped include customers of HDFC Bank and United Bank of India.

Centre considers easing lending rules for shadow banks: Sources

Centre considers easing lending rules for shadow banks: Sources

The govt is keen to revive credit growth after GDP growth slumped to a six-year low in the quarter to Sept. 30.

BANKING STOCKS
NSE
BSE

Company NameLatestChange%ChangeVolume
HDFC Bank1246.050.450.046885699
Kotak Mahindra Bank1674.3251.523799055
ICICI Bank524.8-3.3-0.6224867567
State Bank of India320-16.2-4.8247014191
Axis Bank717.6-11.65-1.67457331
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