HDFC Bank aims 10-fold growth in merchant segment in 3 years to 20 million
The merchant relationships accrue in fees as the services are charged, in interest income for the lending and also in low-cost current and saving account (Casa) deposits. Having a bigger number of merchants will help the bank's analytics engines gather more intelligence and deploy suitable solutions, the source said.
South Indian Bank cuts MCLR by 0.05 pc across tenors
The benchmark one-year MCLR, which is mainly factored in to decide most consumer loan ra...
Bandhan Bank collection efficiency ratio touches 80 per cent in August
The ratio, which is improving on a "daily basis", is likely to be over...
Aditya Birla Idea Payments Bank ceased to be banking company: RBI
The decision to shut operations by the Aditya Birla Idea Payments Bank was taken due to unanticipated developments in the business landscape which have made the economic model unviable, a regulatory filing by the Vodafone Idea Limited had said in July last year.
Bank credit up 5.26 per cent, deposits by 11.98 per cent: RBI data
Personal loans continued to perform well registering a growth of 11.2 per cent as compared with 17 per cent growth in July 2019. Within this sector, vehicle loans registered accelerated growth of 8.1 per cent in July 2020 as compared with the growth of 4.9 per cent in the corresponding month of the previous year, according to the data.
EOW arrests two officials of Lakshmi Vilas Bank for misappropriation of Religare Finvest FDs
The bank in July 2017 had adjusted a fixed deposit of Rs 791 crore deposited by RFL toward the default on a loan made by RHC Holdings and Ranchem. This adjustment was disputed by Religare Finvest in the court. The FIR by Religare Finvest was registered on the basis of the internal probes and findings of regulatory authorities such as Sebi and the central bank.
PSU banks on-board 1 crore account holders on digital payment modes in a month
The campaign, aimed at encouraging customers to use digital banking channels, was launched on August 15 under the aegis of the government's Digital India initiative.
Interest of bank depositors has to be protected: RBI governor Shaktikanta Das
The government and the RBI have held that borrowers should not be compensated at the expense of depositors. Brokerage firm Macquarie has calculated that a waiver of interest will cost the banking system ₹2.1 lakh crore while waiver of compound interest will cost about ₹15,000 crore.
Ujjivan Small Finance Bank forays into small commercial vehicle finance for tier II, III cities
Ujjivan SFB said as part of the 'Raftaar Loans' product mix, the customised offerings will be available across southern and eastern regions: Karnataka, Tamil Nadu, and West Bengal.
Extension of moratorium unlikely to hit bank profits immediately
A complete waiver of interest will hit banks' profits the hardest as they will not only have to reverse the interest due on these loans, which have been so far accounted for, but also provide for losses arising out of them.
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.
Bandhan Bank appoints Kumar Ashish to head Emerging Entrepreneurs Business vertical
Ashish spent about two decades at ICICI Bank, and prior to his new role in Bandhan Bank, he was ICICI Bank's senior general Manager & retail business head for North India.
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.
Banks are catalysts of economic revival: FM Nirmala Sitharaman
Sitharaman was speaking after launching PSB Alliance-Doorstep Banking Services. The minister further said banks have to introspect on their core business and also focus on welfare.