BUSINESS
RBI curbs on Kapol Co-op bank extended till March 2018
According to the RBI directive, customers of the Mumbai-headquartered co-operative bank will allowed a maximum withdrawal limit of Rs 3,000 - irrespective of their total balance.
BUSINESS
After BoB & Andhra Bank, State Bank of India cuts base rate to 8.95%
This comes after a couple of other public sector banks including Bank of Baroda and Andhra Bank earlier in the day announced a reduction in their base rates. RBI will announce key policy rate on October 4.
BUSINESS
RBI increases investment limit in govt bonds for foreign investors by Rs 14,200 cr
Last week, RBI also removed masala bonds or the rupee-denominated bonds from the corporate debt limit to allow increase in investments by FPIs.
BUSINESS
Bankers to HCC unit's Lavasa Corp invoke RBI’s strategic debt restructuring
The total debt of the company to be restructured is tentatively at about Rs 3,000 crore.
BUSINESS
Piramal, Bain Capital fund in talks to buy stressed assets under insolvency: Ajay Piramal
Piramal Enterprises and private equity firm Bain Capital jointly floated a stressed asset fund in August this year to invest about USD 1 billion (Rs 6,500 crore) into stressed assets.
BUSINESS
Shareholders' interests to drive decisions in IDFC-Shriram merger, says Ajay Piramal
One of the biggest financial merger deals in the country, IDFC with Shriram Group, has hit a hurdle after it faced opposition from some of its shareholders.
BUSINESS
Amid merger talks, NPA & capital woes, PSU bankers face uphill task to revive growth
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.
BUSINESS
After Synergies Dooray case, complaints against insolvency pros will get a hearing soon
Insolvency and Bankruptcy Board of India will come out with a resolution mechanism to handle complaints against all service providers including the insolvency professionals.
BUSINESS
SBI reduces minimum balance limit to Rs 3,000; revises down maintenance charges
Minimum balance for metro and urban stands at Rs 3,000 while semi-urban and rural centres continues to be at Rs 2,000 and Rs 1,000, respectively
BUSINESS
Banking sector wrap: Jaitley promises help to banks; P2P lenders to be NBFCs
Customers would be happy to know that banks are sprucing up their festive offers to give discounts on loans and waive off charges to avail loans in the Diwali season.
INDIA
Improving banking system & encouraging private sector investment key: FM Arun Jaitley
The government will take steps to find adequate resources to support debt-laden banks in order to help them participate in India's economic growth, said Finance Minister Arun Jaitley at a meeting of bankers on Friday.
BUSINESS
Payments banks are feeling restricted, worry about getting customers to transact
With changing market scenarios, especially post demonetisation, payments banks are competing more with fintech players rather than commercial banks.
BUSINESS
What is P2P lending and why has RBI decided to regulate it?
The government on Wednesday said that peer-to-peer lending (P2P) platforms would be treated as non-banking financial companies (NBFCs) and regulated by the Reserve Bank of India (RBI).
BUSINESS
RBI to treat peer-to-peer lending platforms as NBFCs
The notification is a precursor to the much-delayed final guidelines that the RBI, the banking regulator, will soon release for regulation of P2P lending in India.
BUSINESS
Banks comfortable with funding new road projects but want to avoid toll-based models
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.
BUSINESS
Bankers to meet govt officials on Wed to decide on further loans to Air India
Bankers will meet government officials including the Aviation Minister and the ministerial group on Wednesday to decide the fate of further loans to the financially-troubled national air carrier Air India.
BUSINESS
Banks give festive loan offers to pump up retail growth
The festive season has arrived and banks are back again luring its customers with discounts and cashbacks through their product offerings.
INDIA
SBI clarifies minimum balance requirement rules not applicable on basic savings accounts
The clarification comes after a report by Moneylife reported that the All India Reserve Bank Employees Association (AIRBEA) has sought RBI Governor's intervention on charges and penalty levied by State Bank of India (SBI) on account holder
BUSINESS
This week in banking: IndusInd-Bharat Fin merger on cards, Bandhan Bank announces IPO plans
IndusInd Bank on Monday said it has entered into an exclusivity agreement with Bharat Financial to evaluate possibility of a strategic deal between them.
BUSINESS
ICICI Bank offers Rs 10,000 cashback on home loans
Customers can avail a new home loan or transfer their existing home loan from September 1 – November 30.
BUSINESS
Bank of Baroda to offer small business loans to Amazon sellers at 10.45-11.5% rates
The loans will be accessed by 2.25 lakh sellers of Amazon on an interest rate of 10.45 - 11.5 percent and will be sanctioned in 3-5 days.
BUSINESS
Bullet train project to create 20,000 jobs: SBI report
"After the commissioning of the project, direct employment of 4,000 employees will be created for the operation and maintenance. Further the project is likely to generate about 16,000 indirect employment opportunities," said the note.
BUSINESS
Your credit card, personal loans are helping banks grow
Though the two unsecured portfolios have a smaller pie with about 30 percent in the share of retail loans, which is nearly 25 percent of the total loans in the industry, the pace of growth is substantial
BUSINESS
Peer-to-peer lending final norms to be out soon: RBI
The much-delayed peer-to-peer (P2P) lending guidelines have been finalised and will soon be released by the Reserve Bank of India (RBI) once it is notified by the government.
