In an attempt to promote interoperability in the usage of prepaid payment instruments (PPIs), the RBI directed all financial companies to make KYC-compliant PPIs interoperable within the next six months
Even as the senior-level placements for public sector banks are underway, the government has approved the appointment of nine executive directors, according to reports.
The advisor also said that the government has various options in mind to sort out the banking mess, including recapitalization and diluting the government’s stake
Public sector banks are cut out for major tasks of growth and profitability despite weak demand and slowing economy even as they grapple with bad loan resolutions and the consolidation process, feel bankers.
This comes a day after Union Transport Minister Nitin Gadkari pulled up banks for delaying financing towards the roads sector despite several clearances and faster movement of the projects.
The ratings agency has estimated that Indian banks will need USD 65 billion as additional capital to meet Basel III requirements by 2019 with state banks requiring more than 90 percent.
Banks are going slow in filing large new cases at the National Company Law Tribunal (NCLT) and observing the current progress of the 12 large accounts in the insolvency proceedings.
Capital need estimates have fallen from the previous estimate of USD 90 billion as a result of asset rationalisation and weaker-than-expected loan growth.
Sudarshan Chakra may be the answer.
Last month, IDBI Bank planned to pare 16.25 percent stake in the micro, small and medium enterprises financier but "have already identified a buyer for the remaining 2.54 percent" it owns in SIDBI, according to a source.
Rajan spoke as he released his book “I Do What I Do” based on compilation of his speeches and his commentary on the reform, rhetoric and resolve.
Raghuram Rajan's new book talks about reforms, rhetoric and resolve through a compilation of his speeches delivered while at the helm of the central bank.
Some of the leading banks in India, have set the trend in personalisation. HDFC Bank took the lead in the use of analytics back in the early 2000s. State Bank of India is also using analytics to track its own services
Merger proposals to largely constitute factors such as capital strengths, geographical presence, asset quality, IT compatibility and human resource transition of the banks
The Union cabinet has approved the setting up of an alternative mechanism, or a panel of ministers, to decide on consolidation proposals for state-run banks.
The total outstanding loans by wilful defaulters rose to Rs 92,376 crore at the end of financial year 2016-17, from Rs 76,685 crore at the end of fiscal 2015-16 -- up 20.4 per cent.
Hit by a major technical glitch this week, Bank of Baroda’s thousands of customers found their savings and current accounts wrongly debited with charges, especially for NEFT and RTGS transactions.
Customers can also negotiate with their respective banks to ask for a waiver of the charges as banks would fear losing their clients
ICICI Bank had written off the highest amount of loans at Rs 15,175 crore in FY17, while HDFC Bank and Axis Bank had written off Rs 2,386 crore and Rs 2,222 crore, respectively
Higher provision requirement for banks on the cases under IBC would be a painful pill to digest.
Whatsapp messages on closure of 9 public sector banks are baseless, ridiculous and incorrect, confirms Finance Ministry and Reserve Bank of India
Government is looking at merging some of the 21 public sector banks to create 10-12 banks in the medium term. As part of a three-tier structure, it plans to build at least 3-4 banks of the size of SBI.
In a written reply in Rajya Sabha, Minister of State for Finance Santosh Kumar Gangwar said IDBI Bank had reported a loss of Rs 5,158 crore in the last fiscal, while the amount was Rs 3,417 crore in the case of Indian Overseas Bank.
In the last couple of weeks, at least three of the 12 companies including Bhushan Steel, Amtek Auto, Era Infrastructure Engineering have seen immediate changes in their top management.
Gross non-performing assets ratio of banks rose from 9.2 percent in September 2016 to 9.6 percent in March 2017