BUSINESS
SBI withdraws controversial circular on pregnant women candidates
The move came after Delhi Commission for women intervened in the matter and asked the bank explain its action.
BANKS
SBI says pregnant women over 3 months unfit to apply, Delhi Women’s commission takes suo-moto cognizance
As per earlier rules of SBI, pregnant women candidates were eligible to be appointed in the bank for up to 6 months of pregnancy
BUSINESS
Bad Bank received all necessary approvals to commence operations: SBI Chairman Dinesh Khara
Bad Bank was announced by Union Finance Minister Nirmal Sitharaman in last Union Budget. This entity will absorb the bad assets of banks enabling banks to clean up their books.
BUSINESS
“We are not PMC Bank. We are Unity, we are a different institution,” Jaspal Bindra says in exclusive interview
Unity Small Finance Bank (Unity SFB) will try and help arrange some liquidity-- directly or indirectly-- for Punjab and Maharashtra Co-operative Bank (PMC Bank) depositors as and when they need it, the Centrum Group chairman said. The recent controversy over BharatPe founder Ashneer Grover’s personal conduct with a Kotak executive doesn’t affect Unity SFB, a joint venture between Centrum Group and the fintech firm, Bindra said.
BUSINESS
RBI remains committed to COVID fight, keeping inflation within target, says Deputy Governor Michael Patra
The RBI’s measures have contributed significantly in engineering the turnaround in the Indian economy, supported by rising financial inclusion and digitalisation, Patra said while delivering the C D Deshmukh Memorial Lecture organised by the Council for Social Development, Hyderabad
BUSINESS
Explainer: What ails the Bad Bank proposal unveiled in the last budget?
It’s not just the organizational structure and regulatory concerns. The proposed Bad Bank may also encounter valuation hurdles in a tough market.
BUSINESS
PMC Bank-Unity merger: What does the final scheme mean for depositors?
The scheme entails a repayment period spread across 10 years to PMC Bank depositors. This means a long wait for high value depositors in the bank
BUSINESS
PMC Bank merges with Unity SFB from today, says RBI
The RBI superseded PMC Bank board in September 2019 following a major fraud.
BUSINESS
Banking Central | Is privatisation the lone cure to save weak PSBs?
The government has been pitching privatisation of state-run banks as a key-action item but it ends up as a no-action event. But, why alone focus on privatisation?
BUSINESS
Rama Bijapurkar on ICICI Bank insider trading: Was an inadvertent error
Bijapurkar resigned as an independent director from the ICICI Bank board, citing likely conflict of interest and now reportedly faces a probe by market regulator Sebi.
BUSINESS
Is Vinod Rai Unity’s trump card to gain customer confidence?
Unity Small Finance Bank is fighting a twin battle. It needs to calm aggrieved PMC Bank depositors. The BharatPe-Ashneer Grover episode dented the JV’s image. Rai’s credentials could act as an antidote.
BUSINESS
Budget 2022: MFIs seek Rs 1,000 crore development fund, extension of credit guarantee scheme
Operations of microfinance institutions were severely hit during the first wave of Covid-19 as lockdowns affected collections. Also, the repayment ability of the borrowers were impacted following loss of livelihoods in many states. But, the impact was much less severe in the second wave.
BUSINESS
What do rising bond yields to signal to the markets?
A combination of factors including firming up of crude oil prices, risks to inflation and swifter-than-expected interest rate increases signalled by the US Federal Reserve have contributed to the hardening of bond yields.
BUSINESS
The return of Padmaja Reddy: Former Spandana Sphoorty boss forays into gold loan business, plans to acquire NBFC
Though Reddy had initially planned to seek a new NBFC licence, she later decided to acquire an existing NBFC and merge the existing business to speed up the process
BUSINESS
Kerala Bank looking for new MD & CEO; invites applications
According to the advertisement by Kerala Bank, the CEO candidate should have 20 years of experience in mainstream banking and at least three years of experience in senior management level in a public sector or private sector commercial bank.
BUSINESS
Banking Central | HDFC Bank numbers send a good signal to the industry
Banks have largely addressed their asset quality issues in the recent past by way of resolution processes. The spread of the Omicron variant, however, poses fresh challenges
BUSINESS
Banking Central | Why top bank executives keep mum during controversial exits?
Citing personal reasons is easy and convenient. But, don’t shareholders and investors deserve to know the real reasons and what’s going on within the organisation?
BUSINESS
Banking Central | Don’t delay crypto regulations
The uncertainty surrounding cryptocurrency should be addressed at the earliest. While the government is yet to introduce the much-awaited cryptocurrency bill, a large number of new investors continue to pour their hard-earned money in digital assets
BUSINESS
RBL Bank: Still more questions than answers
Clarifications by RBI and bank management rule out issues concerning capital and asset quality but do little to end the ambiguity about the exact reasons behind the surprise events on Christmas Day.
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.
