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View: Freeing up the financial system to expand with Bilateral Netting
A bilateral netting framework is standard in all developed financial systems across the world. Around 50 countries already have similar arrangements based on a model law designed by the International Swaps and Derivatives Association (ISDA).
HDFC Bank looks to increase number of banking correspondents to 25,000 by March
The bank is looking at its tie-up with the government's commo...
India Ratings revises banking sector outlook to negative
“The spike in stressed assets due to pandemic is expected to double the credit costs...
Punjab and Maharashtra Co-operative Bank gets a new administrator
PMC was placed under RBI directions on September 23, 2019, after its NPAs rose sharply due to loans given to real estate company HDIL and its promoters the Wadhawan's with accounting for it in the bank's book.
Banks' aggregate provisions for COVID-19 rise by 23% in June quarter
Even as banks’ provisioning for bad loans tapered in the June quarter following the moratoriums, those on account of Covid-19 surged as compared to the previous quarter ending March.
Lok Sabha passes legislation to bring cooperative banks under RBI's supervision
Replying to the debate on the bill, Finance Minister Nirmala Sitharaman said this legislation is for depositors' safety and not for undermining powers of the Registrar of Cooperative Societies.
One year later, PMC Bank depositors still struggling to get their money back
PMC Bank depositors have spent the last one year holding protests, meeting politicians, writing to various authorities in an effort to get their hard-earned money back.
Divesting majority stake credit negative for public sector banks leaning on govt: Icra
Six public lenders including Indian Overseas Bank, UCO Bank, Bank of Maharashtra, Punjab and Sind Bank, Bank of India and Central Bank of India remained independent post the amalgamation of major PSBs on April 1.
State Bank of India's digital startup, YONO, could be a $40 billion goldmine
The bank's YONO super-app could be valued at $40 billion with the lender considering long term plans to hive it off as a separate entity once it assumes a certain size.
UCO Bank yet to undertake asset quality study, cites SC order for delay
UCO Bank MD and CEO A K Goel had earlier said the lender would like to ascertain its asset quality, once the moratorium period ceases on August 31.
SBI moots VRS scheme to optimise costs, about 30,000 employees eligible
Besides, the draft scheme, seen by , said it will provide an option and a respectable exit route to employees who have reached a level of saturation in their career, may not be at the peak of their performance, have some personal issue or want to pursue their professional or personal life outside the bank.
Banks need to shed risk aversion, shore up capital says RBI
Banks' risk aversion is impeding the flow of credit to the productive sectors and undermining the role of banks as the principal financial intermediaries in the economy.
Moratorium shouldn't be extended beyond August, says Punjab National Bank
“The moratorium should not be extended because moratoriums are given only when the situation is uncertain and one cannot ascertain the impact,”said MD and CEO Mallikarjuna Rao, adding that green shoots were already visible in the economy. Rao expected a broader revival, encompassing more sectors of the economy, to be more effective from October onward.
Surge in deposits to put pressure on banks’ net interest margins
NIM, or the differential between interest earned and spent, may narrow 10-15 basis points in the April-June quarter, rating agency Icra’s estimates showed. The impact of deposit rate cuts since April is partially offset by higher savings mobilisation and slower credit growth.
Lok Sabha passes Bilateral Netting of Qualified Financial Contracts Bill, 2020
Under the bill, a qualified financial contract (QFC) is a bilateral contract notified as a QFC by a relevant authority such as the Reserve Bank of India, Securities and Exchange Board of India, Insurance Regulatory and Development Authority of India, Pension Fund Regulatory and Development Authority or International Financial Services Centres Authority.