Week started off with the shocking robbery at Bank of Baroda, government charting out reform banks, SBI reducing employee base and ending with the big bank announcement of Moody’s upgrading India, SBI and HDFC Bank
The Reserve Bank of India is soon likely to issue clarifications on the guidelines for peer-to-peer (P2P) lending platforms relating to the lending limits, trusteeship and other operational norms.
Paytm customers can get access to instant credit for everyday use-cases ranging from movies to bill payments to flights to physical goods
Most public and private sector banks mention in their agreement clause while filling the application form to rent a locker facility that the banks are not responsible for any loss or damage to the contents of a locker
Experts suggest upgradation of security and alarm systems, fresh guidelines and safety procedures to battle the intelligent techniques of robbers and criminals.
Banks had put up approximately Rs 30,000 crore worth of assets for sale during the six months period starting April, of which banks have managed to sell just about Rs 5,000-6,000 crore to ARCs
While the robbery may sound like a movie plot, the style of digging their way into a bank's vault, has been used in multiple times before.
Bankers have advocated the idea of differentiated lending to ensure they focus on their strengths relating to their locations and expertise and not be worried about competition.
SBI has Rs 26,600 crore worth of exposure to 27 accounts of RBI list of 30 accounts and Rajnish Kumar expects most of them to be filed under Insolvency and Bankruptcy Code (IBC).
Chairman Rajnish Kumar said gross slippages for the quarter stood at Rs 10,627 crore (including fresh slippages of Rs 9,026 crore). That was sharply lower compared with Rs 30,059 crore slippages reported in June quarter.
At Gurugram in a conclave titled Vichar Manthan over two-days, seven groups led by a PSB chief executive officers will give presentations on topics such as credit growth, NPAs and insolvency, digital payments and financial inclusion, responsible and responsive banking, among others.
Last month, RBI levied a monetary penalty of Rs 6 crore on Yes Bank for failing to report a cyber-security breach of its ATM network
Business tycoon Sajjan Jindal, promoter of JSW Group, which is among the domestic suitors to buy stressed steel assets, has called for disallowing dubious promoters to bid to prevent misuse of the Insolvency and Bankruptcy Code (IBC).
PNB added 9 branches from April to June period but in the second quarter, it had closed down a total of six branches taking the network tally to 6,940 branches by September end.
Last week, SBI, country's largest bank, had announced its reduced rates to home loan and auto loan borrowers with rates of 8.30 percent and 8.70 percent.
Banking sector during the week saw more of disappointing news of job cuts, bad loans and NPA divergences raising questions on bank auditors. Further public sector banks reported losses due to rise in bad loans
Samit Ghosh, Managing Director and Chief Executive Officer of Ujjivan Small Finance Bank, expects the loan book to grow by 20 percent by year-end.
As per the latest numbers, ICICI Bank had 83,058 employees as of September 30, 2017. This number as on June 2017 stood at 84,140 employees.
Private sector banks reported cumulative divergences of Rs 12,000 crore after the RBI asked to make disclosures in classifying select accounts as NPAs, which earlier were not classified by the bank.
Despite a 34 percent drop in net profit at Rs 2,058 crore from a year ago, the Mumbai-based bank saw its gross non-performing assets (NPAs) in the three month period July-September decreased even as it spiked from a year-ago period.
Today, a majority of NBFCs use artificial intelligence, pattern analysis, predictive intelligence and other customised algorithms to study the repayment behaviour of the potential customers.
This is the second time that the RBI, in its annual risk-based supervision, has observed divergences in both the banks’ NPA reporting.
The recapitalisation plan means banks now have more cash in their pockets in order to provide for more loans.
Public comments were sought on recommendations of the study group to review the working of the Marginal Cost of Funds based Lending Rate (MCLR) System
Urjit Patel calls it a “real chance” to put in place comprehensive and coherent, rather than piece-meal, strategy to address the banking sector challenges