BUSINESS
RBI looking at cryptocurrency, but wary of bitcoins: Reserve Bank Executive Director
"As regards non-fiat crypto currencies, I think we are not comfortable...non-fiat cyptocurrencies like bitcoins, for example," Sudarshan Sen said at a fintech event by KPMG.
BUSINESS
Banks go slow in filing large cases with insolvency court
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.
BUSINESS
Bandhan Bank appoints lead managers for its proposed IPO
Bandhan Bank’s Board has decided to appoint Goldman Sachs Group, JPMorgan Chase, Axis Bank, JM Financial and Kotak Mahindra Bank as lead managers to manage its proposed initial public offering (IPO).
BUSINESS
From SKS Microfinance to IndusInd, a bank is every MFI's destination point: Bharat Fin CEO
The swap ratio being considered is one share of IndusInd Bank for 1.75 shares of Bharat Financial while RBL had proposed a 2:1 ratio.
BUSINESS
RBI says it's using 'sophisticated' machines to check accuracy of demonetised notes
Quoting a Right To Information (RTI) reply, PTI had earlier reported that RBI was not using machines for counting Specified Bank Notes (SBNs).
BUSINESS
Banking sector this week: Rajan opens up on cash ban; HDFC Bank "too big to fail"
SC stayed insolvency proceedings against Jaypee Infratech, RBI declared HDFC Bank as “too big to fail bank” but RBI’s former head Raghuram Rajan stole the cake talking about demonetisation at the launch of his book “I Do What I Do”
BUSINESS
SMEs should take a cue from e-commerce cos and tap equity more, says SBI Chief
Bhattacharya also suggested that government and PSUs must come on the TReds platform to get the lowest prices for bill discounting.
BUSINESS
These questions are keeping RBI Deputy Governor Viral Acharya awake at night
Sudarshan Chakra may be the answer.
BUSINESS
IDBI Bank seeks bids to sell 13.71% in SIDBI, extends submission date
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.
BUSINESS
HDFC Bank loses its corporate head K Balasubramanian to Citi
Balasubramanian, 46, will take on a larger role in Citi to head the corporate banking for South Asia. He has tendered his resignation at HDFC Bank and is hoping to join Citi before January
BUSINESS
Digital payments growth dips 27% in Aug from peak; BHIM, UPI to take charge
Online transaction growth in value and volume terms are fluctuating in the range of a meagre 1-5 percent on a monthly basis since April
BUSINESS
I'm against making RBI completely independent: Key takeaways from Raghuram Rajan's speech
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.
BUSINESS
DBS becomes second bank to get in-principle nod to operate as wholly-owned unit
RBI had issued the guidelines in late 2014 and DBS was the first to apply in early 2015, followed by at least two others.
BUSINESS
Bank mergers set to gain momentum as govt asks PSB chiefs to submit proposals
Merger proposals to largely constitute factors such as capital strengths, geographical presence, asset quality, IT compatibility and human resource transition of the banks
BUSINESS
Banking sector weekly wrap: SC rules in favour of bankruptcy, RBI releases annual report
Banking sector this week was over shadowed by RBI's annual report and a few banks cutting their lending rates. But an important ruling of Supreme Court in favour of ICICI Bank sets a new precedent
BUSINESS
Cash ban a success only after taxmen go after suspicious depositors: Former RBI DG
R Gandhi said the two things we need to look forward to is, the number of tax payers and where it is increasing. An extension of that is what the tax collections are.
BUSINESS
RBI reduces staff by half in 20 years thanks to technology
Reserve Bank recruited 666 employees in 2016 with total number of full-time employees at 15,461 as on December 31, 2016.
BUSINESS
Did demonetisation costs override the benefits?
About 98.96% of total cash withdrawn was back into the bank accounts, with approximately Rs 16,000 crore worth of the notes unaccounted for till June 30, 2017.
BUSINESS
Punjab National Bank cuts lending base rate to 9.15%
The new base rates will be effective from September 1. The cut has been down from 9.35 percent
BUSINESS
Rs 200 notes could be available in ATMs by September-end
Design, texture, size, thickness and supply or availability of the new Rs 200 notes will decide the required recalibration at ATMs as it can be a massive exercise which was already done recently post demonetisation across about 2 lakh ATMs.
BUSINESS
Bank of Baroda says resolving 'technical glitch', assures 8300 depositors money back
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.
BUSINESS
Banks must file for bankruptcy after three months of recovery effort: Viral Acharya
The RBI Deputy Governor said that banks should engage in renegotiation much before default has actually taken place.
BUSINESS
Bank unions plan to meet PM Modi next month; Tuesday strike disrupts banking transactions
The nationwide strike called upon by nine bank unions on Tuesday saw major participation of nearly 10 lakh employees and officers of public sector banks across 10,300 branches in the country.
BUSINESS
NCLT is finding it tough to get qualified judges for insolvency cases
With the avalanche of insolvency cases and shortage of staff, it has become challenging for the corporate tribunal to deal with the resolution process.
