BANKS
Banking Central | Why they don't stop calling me for loan even when I don't need it?
The aggressive loan canvassing by NBFCs and loan app companies are a lure to the young to take the plunge. Often, they don’t understand the risks
ECONOMY-2
Exclusive Interview | Inflation firmly inside the corridor, MPC should be more sensitive to growth now, says Jayanth Varma
The MPC retained its key policy rate, repo, at 6.5 percent in the February round of the monetary policy, signalling that the fight against inflation is not over yet. Varma said falling inflation means that keeping the repo at 6.5 percent is the same as steadily raising real rates which is unwarranted
BANKS
Banking Central | End of the road for Paytm Payments Bank?
With the crackdown on Paytm Bank, the RBI has sent out a clear message to fintechs that no matter how big a company is, non-compliance with rules isn’t an option. And that the regulator won’t hesitate to pull the plug
BUSINESS
Exclusive | No chance of evergreening, NCGTC audit procedural, says Bandhan Bank MD&CEO
In an interview to Moneycontrol, Chandra Shekhar Ghosh addresses media reports of evergreening loans and also talks about NCGTC audit as well as the lender's asset quality
BUSINESS
Exclusive: Bandhan Bank chief Chandrashekhar Ghosh denies reports of loan evergreening
"The pratice is until the first loan is not closed, they are not eligible to get the second loan. That means, there is no chance of evergreening," says Managing Director and Chief Executive Officer Chandrshekhar Ghosh
BUSINESS
Banking Central | Clock is ticking fast for Dhanlaxmi Bank
The Kerla-based bank needs to act urgently on raising capital. Failure could likely attract the RBI action. The regulator has powers to supersede the Board if the capital position is deemed inadequate.
BUSINESS
Shinjini Kumar quit Paytm Payments Bank Board but attended meetings as special invitee: Sources
Moneycontrol had earlier reported that Manju Agarwal, an independent director at PPBL, resigned from its Board effective from February 1, 2024, after the Reserve Bank of India (RBI) slapped restrictions on the bank
ECONOMY
Quick take| What is the message from RBI Governor Shaktikanta Das?
The monetary policy committee (MPC) is walking a cautious path on inflation. The panel isn’t yet ready to lower the guard early and lose the hard-earned gains in the prolonged inflation fight.
BUSINESS
RBI Interest Rates: MPC keeps repo, stance unchanged as inflation concerns weigh
RBI Interest Rates: This is the sixth consecutive pause in the last one year. Since the April monetary policy in 2023, the RBI has kept the repo rate unchanged at 6.5 percent, after raising it by 250 basis points (bps) since May 2022
BUSINESS
RBI may cancel licence of Paytm Payments Bank
The central bank is also weighing the option of superseding the board of Paytm Payments Bank
BUSINESS
Banking Central | Did the Paytm Bank Board fail to do its duties?
Paytm Bank’s nine-member Board is filled with veterans from the financial sector, with at least two of them having experience in leading compliance functions at large international banks
BUSINESS
Budget 2024 turns out to be a non-event for banking industry
The FM asserted the Centre's commitment to pursue the path of fiscal consolidation and bring the fiscal deficit down over the next few years. This is good news for monetary policymakers
BUSINESS
Will PSBs get fresh capital from FM Sitharaman in Budget this time? Unlikely
Adequate capital position and improving asset quality may prompt the government not to announce fresh capital infusion in the budget. In an election year, the government presents only an interim budget or seeks a vote on account, and leaves it to the next government to present the full budget.
BUSINESS
FM Sitharaman has a good case to revisit bank privatisation plan in Budget
PSB privatisation is politically risky. It involves regional interests (every bank has a local area stronghold) and no government can risk a political backlash when effecting such a move.
BUSINESS
Banking Central | Crypto scams on the rise, time's ripe for regulation on virtual assets
In the 2024 Budget, the Narendra Modi government has an opportunity to bring clarity on the Indian government’s thinking on regulation of virtual assets. Will that happen this time?
BUSINESS
RBI asks Dhanlaxmi Bank CEO Shivan J K to continue till successor assumes office
Earlier, Moneycontrol had reported that a total of five names have been shortlisted after the interview for the CEO post and these names are now under the scrutiny of the RBI
BUSINESS
Banking Central | Are India’s state-run banks in need of fresh capital?
Adequate capital position and improving asset quality are likely to prompt the government not to announce fresh capital infusion in the budget
BUSINESS
Exclusive: Ajith Kumar K K, Madhav Nair among names shortlisted for Dhanlaxmi Bank CEO post
A total of five names have been shortlisted after the interview. These names are now under the scrutiny of the RBI as the term of the existing CEO Shivan JK is set to end on January 29, 2024.
BUSINESS
Banking Central | Indian banks finally wake up to problem of mis-selling
The practice of forcing customers buy products they don’t need or understand is nothing short of a financial crime
BUSINESS
D Subbarao Exclusive Interview: India’s debt-to-GDP ratio is high; it is a concern and should be brought down, says former RBI Governor
A high debt-to-GDP ratio is a matter of concern because it is one of the main indicators of macroeconomic stability, and that's something that foreign investors and domestic investors track, he said.
BANKS
Banking Central | Loathed more often than loved, here's a parting note from Rs 2,000 notes
Truth be told, we weren’t supposed to stay around for a long while. We were a stop-gap arrangement to speed up the remonetization of the economy after the 2016 demonetization exercise
BUSINESS
Banking Central | Will bank privatisation top the Modi government’s 2024 reform agenda? Let’s wait for the Budget blueprint
Bank privatisation has been a long-pending goal for the central government. But there has been no action yet.
BUSINESS
MC Exclusive Interview | When people disagree with me, that does not mean that they do not take me seriously: MPC member Jayanth Varma
It is not enough that MPC insiders can fathom the coded language in which it chooses to speak. It is imperative that the MPC choose language that intelligent laypersons can interpret. In my view, the MPC has failed this test repeatedly, Varma said.
BUSINESS
Banking Central | What’s the best New Year gift banks can give us in 2024?
Banks must stop pressuring junior executives to engage in relentless cold calling to sell loans that customers do not need or peddle complex investment products that clients do not fully understand
