BUSINESS
Saraswat Bank says case filed by defaulting borrower to block loan recovery
Earlier in the day, Moneycontrol reported that the Pune Police have registered a cheating case against eight persons including Saraswat Bank Chairman Gautam Thakur and Managing Director Smita Sandhane.
BUSINESS
Banking Central | Why 2021 was an eventful year for Indian banks
A devastating second COVID wave and its aftermath dominated the banking industry in 2021. Cryptocurrencies and the crisis in cooperative banking also made headlines. Will 2022 be different?
BUSINESS
RBI says RBL Bank well capitalised, financial position satisfactory
There is no need for depositors and other stakeholders to react to speculative reports. The bank’s financial health remains stable, the RBI has said
BUSINESS
Saraswat Bank chairman, seven more booked in cheating case in Pune
The incident allegedly took place between 2018 and 2020. The complainant’s company had a term loan account with Saraswat Bank’s Vishrantwadi branch
BUSINESS
RBL Bank's interim CEO Rajeev Ahuja says bank has full support of RBI, asset quality issues addressed
"The (recent) developments are not on account of asset quality, advances issues. The bank has the full support of the RBI," RBL Bank's interim CEO Rajeev Ahuja said.
BUSINESS
RBI action against RBL Bank: What we know so far
Such actions from the regulator, on a Christmas Day no less, normally don’t happen without a strong reason
BUSINESS
Financial inclusion to boost transmission of monetary policy: RBI deputy governor
It can also develop more rational expectations among people, Michael Debabrata Patra said
BUSINESS
Indian banks brace for Omicron threat but impact won’t be huge, say analysts
Among the key factors that will impact banks in 2022 will be the course of the Omicron variant.
BUSINESS
Fresh Omicron concerns dominated RBI's MPC meeting, show minutes
As countries race to contain Omicron with travel restraints and new quarantine and social distancing measures, the global recovery and the inflation outlook are at risk again, Micheal Patra has said.
BUSINESS
RBI likely to consider extension of deadline on tokenisation rules; final decision yet to be taken
Earlier, the industry lobby of banks, Indian Banks Association, had made representation to the RBI for an extension of the tokenisation deadline. That apart, some banks too had approached the regulator seeking an extension.
BUSINESS
Tokenisation: Banks warn RBI of ‘chaos’ as small merchants are not ready for the shift
The RBI has been consulting with banks and other stakeholders on the shift. Lenders are worried that with the entire system shifting to tokenisation in one go, there will be massive disruptions across online payments platforms during the new year.
BUSINESS
Banking Central | Severe Omicron wave can upset bad loan math
It’s too early to say. There’s no clarity yet. But a severe wave could impact the growth and asset quality of Indian banks.
BUSINESS
Rupee fall: How does the depreciation in rupee impact you?
A falling Rupee isn’t just a macroeconomic phenomenon. It has immediate cascading impact on day-to-day life and domestic prices.
BUSINESS
Explainer | New PCA rules for NBFCs suggest RBI has learned its lessons from IL&FS, DHFL episodes
NBFCs are set to enter an era of tight regulations with the central bank laying out the framework for prompt corrective action. What are the new rules and why now? Here’s an explainer.
BUSINESS
Jignesh Shah’s 63 Moons wants to ride the crypto wave but won’t start an exchange
TickerPlant was a wholly-owned subsidiary of 63 moons. Recently, 63 moons diluted its stake in TickerPlant to approximately 77.5 percent stake. Jignesh Shah had earlier launched Multi Commodity Exchange of India (MCX) in 2003.
BUSINESS
Budget 2022: Can FM Sitharaman push PSB privatisation agenda?
Privatising public sector banks has long been in the works but the government has only managed to merge many such entities. The budget may lay out a roadmap on privatisation but strong trade union protests will be a challenge.
BUSINESS
Banking Central | Why Shaktikanta Das is right in cautioning depositors chasing high returns
While regulatory lapses, criminal intent and financial mismanagement all play a role in banking crises, the common factor is the ‘greed’ of depositors.
BUSINESS
Analysis| Omicron uncertainty puts Das & Co in slow gear; back to the waiting game
Omicron has forced the MPC to go slow on the projected path of policy normalisation. Between now and the February review, the evolution of the variant's trajectory will decide the course of policy normalisation.
BUSINESS
Cyber security, digital frauds major challenges in rolling out digital currency, says RBI deputy governor
The comment comes at a time when the government is working on a law to regulate cryptocurrencies and there is a debate around CBDC and its possible impact on the Indian economy
BUSINESS
RBI to work on PMC Bank resolution 'very quickly', says Governor Shaktikanta Das
Stakeholders have time till December 10 to respond to RBI’s draft scheme for the amalgamation of PMC Bank and Unity Small Finance Bank
BUSINESS
RBI Monetary Policy: MPC keeps repo rate unchanged; stance accommodative
The rate-setting panel has maintained key lending rates for the ninth consecutive policy meeting
BUSINESS
Banking Central | Omicron emerges as new cause for concern for MPC
The central bank may continue the process of policy normalisation in some manner but will likely refrain from any rate actions, particularly in the context of rising uncertainty from the Omicron spread.
BUSINESS
Back-to-back senior-level exits continue to haunt Dhanlaxmi Bank
While personal reasons have been cited for the departure of top executives, disputes between some board members and investors could have played a crucial role, according to insiders.
BUSINESS
How cryptocurrency has already divided top Indian policymakers
The RBI has been opposing cryptocurrency saying it poses threats to macroeconomic stability, the prime minister has warned youngsters off it, but there are influential voices supporting its existence.
