Will take all legal routes to recover $717 million, say Chinese Banks to Anil Ambani
Ambani stated in court that his expenses are “minimal,” he doesn’t have a “lavish lifestyle” and has had to sell jewellery to meet legal expenses.
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 char...
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 90 per cent in October, it said. "Our micro borrowers have showed great resilience. The ability to get back on feet is exemplary and there has been no destruction of their assets," MD & CEO Chandra Sekhar Ghosh said.
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.
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.
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.
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.
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.
Maintaining asset quality a priority, says new SBI chief
SBI's gross NPAs as of June 2020 was 5.44% down from 7.53% a year ago and net NPAs post provisioning was 1.86% down from 3.07% in June 2019. Its NIM was 3.01% up from 2.81% a year ago.
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.
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.
Bank of Baroda to appoint consultants to help revamp structure
The bank will likely ask consultants to help lower its cost-income ratio by up to 10% in the next two years in light of the merger synergies.