BUSINESS
As the year of digital revolution in banking comes to an end, what lies ahead?
Banks will look at finding their niche but focus will remain on their core lending and deposit business
BUSINESS
Insolvency and Bankruptcy Code: What has been done and what lies ahead?
More than a year after the Insolvency and Bankruptcy Code (IBC), 2016, was put in place, here is a look at the emerging trends of the cases in the courts so far.
BUSINESS
Year 2017: Ed-tech startups took the B2B route to survive in a tough mkt
Funding in Indian ed-tech sector slid to USD 90 million in the first half of 2017, from USD 104 million in the same period of 2016.
BUSINESS
Jobs vs tech: SBI turns to special skills for hiring, boosting mid-level headcount
SBI Deputy MD Prashant Kumar says the bank will focus on special skills for jobs, but succession planning, missing middle are big challenges.
BUSINESS
Banking wrap: RBI dispels rumours of bank closures, warns of rise in NPAs
The RBI was in the thick of action this week. WhatsApp rumours and NPA troubles, among others, kept the central bank busy.
BUSINESS
WhatsApp lies again: No banks are closing down and your deposits are safe
The Reserve Bank of India issued a clarification after spotting some misinformed messages circulating online about the closure of some public sector banks after being placed under Prompt Corrective Action.
BUSINESS
Risks to banking sector remain elevated, gross NPAs likely to rise to 10.8% by March: RBI
The report highlighted that the overall risks to the banking sector "remained elevated due to asset quality concerns".
BUSINESS
ATM breach: How to take precautions pre and post debit or credit card use
Earlier this week, about 40 people who used a Kotak Mahindra Bank ATM in Mulund (East), lost a total of around Rs 14.80 lakh fraudulently withdrawn from their bank accounts in three days from Sunday to Monday.
BUSINESS
What's the cost of a banking complaint? Nearly Rs 4,000, says RBI
Average cost of handling a complaint was Rs 3,780 during 2016-17 which was lower than the average cost of Rs 4,396 during 2015-16 on account of increase in complaints.
BUSINESS
Kotak Mahindra Bank to buy mid-sized stressed assets from IBC but price has to evolve: Dipak Gupta, joint MD
"Loose ends are not necessarily in promoters’ control – service tax dues, labour dues, etc," he says.
BUSINESS
Banking sector this week: Debit card payments turn cheaper; insolvency filing for unresolved NPA cases begins
A quick wrap of key developments in the banking sector this week.
BUSINESS
RBI levies Rs 5 crore penalty on Syndicate Bank for breaching KYC norms
This comes on the heels of RBI fining private sector lender IndusInd Bank Rs 2 crore for non-compliance of asset recognition norms.
BUSINESS
Current account deficit at sustainable levels; India has 'buffers' against shocks: RBI Guv
Ensuring price stability through monetary policy and current account deficit at sustainable levels have enabled us the build-up of “buffers” against unforeseen shocks, according to Reserve Bank of India Governor Urjit Patel.
BUSINESS
No MDR charges on debit card payments up to Rs 2,000 for 2 years starting Jan 1
In an effort to boost digital payments, the Union Cabinet has decided to waive the merchant discount rate (MDR) applicable on all debit cards, BHIM and UPI transactions up to Rs 2,000.
BUSINESS
Solution to stressed assets lies in creating market for resolution: IBBI Chief
The solution to the buying of stressed assets does not lie in allowing tainted persons to come in but a solution lies in creating a market to arrive at a resolution, according to MS Sahoo, Chairman of Insolvency and Bankruptcy Board of India.
BUSINESS
NPA deadline ends: Banks brace for provision hit as two dozen cases may go to NCLT
Bankers will soon act on the 28 defaulters identified in Reserve Bank of India's second list and haul them to the National Company Law Tribunal (NCLT) for resolution under the Insolvency and Bankruptcy Code (IBC).
BUSINESS
RBI fines IndusInd Bank Rs 3 crore over compliance issues
For similar reasons, RBI had also imposed Rs 6 crore penalty on Yes Bank and Rs 2 crore on IDFC bank for deficiencies found in regulatory compliance relating to loans and advances
BUSINESS
Govt to relook into insolvency provisions to help bids for smaller companies
In order to help smaller companies the government is reviewing the insolvency provisions, including recent amendments barring defaulting promoters from bidding for their own assets undergoing insolvency.
BUSINESS
Sajjan Jindal tweet calls for uniformity in evaluation of existing promoters of firms in and outside of NCLT
Indian entrepreneur Sajjan Jindal has called for existing promoters who are not willful defaulters to be allowed in the management of companies undergoing insolvency proceedings.
BUSINESS
Repeal Bank Nationalisation Act, trim govt ownership to 25% in PSU banks: Ex RBI advisor
Joshi pointed out how successive Indian governments have been stuck with the idea of 51 percent ownership and have only flirted with the idea of privatization.
BUSINESS
Majority of NPA cases may land up in insolvency courts as deadline for 2nd list nears
Bankers are struggling to find out-of-court resolutions and will soon move involvency courts by this year end to file cases worth over Rs 1.5 lakh crore
BUSINESS
Global investors are reaping benefits of HDFC growth story, not Indians: Uday Kotak
As the chief of the fourth largest private bank, Kotak questioned that allowing global investments has come at a price to the domestic investors.
BUSINESS
Bank loan growth hits 3-year high on base effect; shows early signs of revival
Bank loans rose 9.64 percent YoY to Rs 79.62 lakh crore as on November 24, 2017, compared to 6.6 percent growth in same period in 2016 and 9.3 percent in 2015, shows the latest provisional Reserve Bank of India (RBI) data.
BUSINESS
Debit card transactions to cost lower for customers, but digital players want more from RBI
In order to boost debit card usage for payments, the RBI on Wednesday that it will rationalise the framework for the MDR applicable on debit card transactions.
