BUSINESS
Government's small savings U-turn puts spotlight on calculation of interest rate
The dilemma before the government while announcing small savings rate is to choose between growth compulsions and the dependence of senior citizens on such financial instruments.
BUSINESS
RBI postpones auto debit rules till September 30: Impact on you, what changes for banks and other questions answered
Services routed through net banking channels will not get affected. Only those involving third-party payments will have to comply with the new rules.
BUSINESS
RBI sets average base lending rate for NBFC-MFIs at 7.81% for April-June quarter
Base rate is a minimum rate at which lending institutions can give loans. But they typically charge other components above the base rate to arrive at the final lending rate.
BUSINESS
HDFC Bank says technical glitch resolved but why is the problem recurring?
Over the last few years, many banks have reported recurring technical glitches in their digital channels.
BUSINESS
HDFC Bank says some customers unable to use their netbanking accounts, working on quick resolution
Late last year too, HDFC Bank had reported problems in its digital channels inviting RBI's attention
BUSINESS
Assam minister promises loan waiver; lenders brace for hit on credit culture
Loan waivers have impacted the credit culture of borrowers in the past leading to high NPAs.
INDIA
Thrissur Pooram is back | The story behind Kerala’s festival of jumbos, ‘Chenda melam’ and fireworks
Thrissur Pooram is an emotion and a symbol of the secular culture and hope for locals — something to wait for every year. A place where both the rich and poor would stand shoulder-to-shoulder and enjoy the energy of festivities. This year, however, the extravaganza will be absent.
BUSINESS
Banking Central | Dear RBI, don’t delay PMC Bank resolution any further
Cooperative Bank customers deserve the same regulatory treatment as those of a commercial bank
BUSINESS
PMC Bank depositors may have to wait for more time for resolution, talks with suitors on, says RBI
The RBI had superseded PMC Bank board in September, 2019 and appointed an administrator to take care of daily operations of the lender.
BUSINESS
KC Chakrabarty: A fearless central banker who loved blunt talk and never hesitated to question the central bank
KC Chakrabarty’s outspokenness often landed him in trouble in the RBI but the veteran banker fearlessly held up a mirror to the unpleasant truths in India’s financial sector
BUSINESS
KC Chakrabarty, veteran banker and outspoken critic of flaws in Indian financial system, passes away aged 68
Former Reserve Bank of India (RBI) deputy governor KC Chakrabarty was known for his in-depth knowledge of economy and the banking industry issues, particularly on issues related to financial inclusion.
BUSINESS
Exclusive | Yes Bank AT1 bondholders move Bombay HC seeking Rs 160 crore interim relief from bank
Yes Bank decided to write off Rs 8,415 crore worth AT1 Bonds as part of the SBI-led bailout.
BUSINESS
RBI governor signals more focus on digital lenders, fintech companies
The RBI governor sees four landscapes emerging in the banking sector in the current decade, including the growth of digital players who will increasingly emerge as critical pieces across all segments.
BUSINESS
RBI flags concerns on cryptocurrencies to government, work in progress for CBDC, says governor Shaktikanta Das
On earlier occasions too, the RBI hinted about its willingness to explore CBDC but has expressed its reservations on cryptocurrencies.
BUSINESS
NPA clock ticks again after SC lifts stay; IBC back in action from today. What impact will banks face?
Indian banks will see some upside on NPAs but the financial impact will not be significant
BUSINESS
Supreme Court ruling on loan moratorium case: 10 key questions answered
The Supreme Court ruled on the contentious issue of loan moratorium extension and interest waiver case on March 23. Find answers to 10 key questions on the case
BUSINESS
Banks finally get to tag bad loans as bad as SC lifts interim stay on asset classification
The SC had put a stop on the NPA clock on September 3 last year to help COVID-hit borrowers. But, this created difficulties for industry in terms of asset classification.
BUSINESS
Analysis | On loan moratorium case, SC offers an ‘Aatmanirbhar’ interest waiver solution
The cost of the interest-on-interest waiver will be far less than a total interest rate waiver. But this burden will ultimately fall on the taxpayer.
BUSINESS
Analysis | SEBI's new AT1 Bond rules no big relief for perpetual bond investors, banks
According to banking industry analysts, the market regulator has only given temporary relief to the AT1 market. Earlier the Finance ministry had written to the market regulator asking it to review the rules.
BUSINESS
RBI announces panel to evaluate applications for Universal Banks, Small Finance Banks
RBI stated that an SEAC comprising eminent persons with experience in banking, financial sector and other relevant areas, will evaluate the applications.
BUSINESS
Who said bankers can’t be artists? HDFC Bank employee’s ‘Pawri’ sketch on COVID goes viral
Rajiv Banerjee, Vice President and Vertical Head of Corporate Communication at HDFC Bank, uploaded his ‘weekend pursuit’ on LinkedIn and Facebook on March 7. Soon it went viral after Delhi DCP tweeted it.
BUSINESS
Banking Central | When will Supreme Court lift stay on NPA classification?
In the past, the RBI, the banking industry and the Finmin have warned about the likely impact of the SC stay on the banking system
BUSINESS
Srei company secretary quits, more senior-level exits likely over next few weeks
Recently, the lenders to Srei had capped the salaries of senior executives and taken over control of finances in a desperate bid to recover their dues.
BUSINESS
Households switch to ‘discretionary’ spending from ‘essentials only’, says RBI bulletin
Going forward, optimism on account of mass vaccination is expected to further boost consumption demand and work further towards restoration of the pre-pandemic spending and saving pattern, the RBI Bulletin said.
