BUSINESS
JM Financial: RBI worried about KYC, AML rule violations, sharing of customer data across group entities, say sources
On March 5, the RBI barred JMFPL from giving loans against shares and debentures, including sanction and disbursal of loans against Initial Public Offering (IPO) of shares, with immediate effect.
BUSINESS
MC Analysis | NBFC crackdown: RBI ko gussa kyon aata hai?
A closer look at some of these cases shows that the central bank has repeatedly cited lapses in governance practices, poor credit underwriting standards, and non-compliance with risk management rules
BUSINESS
Banking Central | Will Board reshuffle help Paytm Bank to stay in the game?
The ongoing saga between PPBL and the RBI underscores the complexities of fintech regulation and the imperative for robust compliance frameworks. As stakeholders navigate this turbulent terrain, the repercussions of PPBL's regulatory challenges reverberate throughout India's banking landscape.
BUSINESS
At least 200 meetings in last 6 months: That's RBI's engagement with fintech sphere
Early this week, the finance ministry had met fintech industry to discuss the industry issues which was also attended by RBI top brass
BUSINESS
Delhi meet sees RBI assurance of more regular, structured engagement with fintechs
The RBI clampdown on the fintech major Paytm had invited criticism from certain quarters that the regulatory action will stifle innovation in the fintech ecosystem
BUSINESS
Kotak Mahindra Bank revisits unsecured lending strategy after RBI alert, says consumer banking head
The RBI last year increased risk weights on consumer loans in a bid to discourage rampant lending by both banks and NBFCs in unsecured loans
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.
