BUSINESS
MC Explains | Crypto assets log in to money laundering provisions. What does it mean?
PMLA circular for crypto will help investigative agencies to tackle cases of money laundering more smoothly.
BUSINESS
Crypto, virtual assets to come under money laundering provisions
Indian crypto exchanges now would be required to report suspicious activity to FIU-IND
BUSINESS
CBDC will take new shape once private sector finds more use cases, says RBI's Ajay Kumar Choudhary
CBDC will continue to be here and will be tested for all use cases, says RBI's executive director Ajay Kumar Choudhary
BUSINESS
More foreign banks may shut shop in India after Citi consumer biz exit
Rising competition and stringent regulations are making India operations difficult for even those foreign banks which started India operations long back, say analysts.
BUSINESS
Will bank employees get five-day work week?
While the Indian Banks’ Association has agreed, the government is to clear the proposal, as per sources.
BUSINESS
Moody's says Indian banks likely to see improvement in bad loan situation
In recent years, banks have significantly reduced NPA levels aided by an aggressive clean-up exercise initiated by the RBI
BUSINESS
MC Explains: Here’s what to do if you are victim of a phishing scam
According to RBI guidelines, if your report gets proven post an investigation, the bank has to pay the entire amount to the customer within 10 days. In cases where the liability of the customer is to be decided, the complaint has to be addressed within 90 days.
BUSINESS
Citi consumer business becomes Axis Bank property, logo rebranding underway
On February 25, 2023, Moneycontrol.com reported that Citibank has removed its signboard from its iconic Kanak building office on Kolkata's Chowringhee Road, as part of the rebranding exercise post the acquisition of its consumer business by Axis Bank in 2021.
BUSINESS
BoB clarifies decision to close Al Ain branch in UAE was taken last year; refutes social media rumors
BOB notified that customers who wish to close their accounts may do so before March 22, 2023. All accounts currently maintained at the Al Ain branch are being transferred to the Bank's Abu Dhabi branch in UAE, the bank said.
BUSINESS
An era ends as Citibank removes signboard from iconic Kolkata office
It was in Kolkata that Citi began its India operations over a century ago.
BUSINESS
MC Interview: Closely watching Adani group developments, says PNB MD & CEO Atul Kumar Goel
PNB’s exposure to Adani group companies is within the policy framework of the bank, as also regulatory guidelines, he explained.
BUSINESS
Bancassurance turns nightmare as bankers face pressure to sell insurance products
Senior-level executives are getting handsome perks such as holidays for meeting targets on the sale of third-party products. Those who fail are often threatened with penal measures.
BUSINESS
Good news for depositors as major banks hike FD rates. See rates offered by different banks
From public sector lenders to private banks, all have made changes in their FD rates to attract customers.
BUSINESS
MC Exclusive | India Post Payments Bank plans to convert to a universal bank: CEO J. Venkatramu
The payments bank is likely to file a universal bank application, tentatively after FY23 ends.
BUSINESS
MC Explains | Why did Kotak Mahindra buy Sonata Finance?
The acquisition of Sonata Finance, according to the bank, will help to expand its reach in rural areas
BUSINESS
Expanded scope of TReDS will improve flow of working capital credit to small businesses
The RBI has allowed insurance companies as the fourth participant on TReDS, in addition to MSMEs, buyers and financiers.
BUSINESS
Kotak Mahindra Bank increases FD rates by up to 25 bps
The bank will offer 7.60 percent interest per annum for senior citizens for deposit amounts of up to Rs 2 crore.
BUSINESS
RBI has sent a list of digital lending apps to government: Shaktikanta Das
RBI has shared a list of digital lending apps regulated by them with the government.
BUSINESS
RBI Policy: Central bank plans to widen the scope of TReDS
RBI governor said that these measures are expected to improve the cash flows of the MSMEs.
BUSINESS
IBC: From 553 cases resolved till September, financial creditors realised 33% of value, says government
The government said the National Asset Reconstruction Company Limited has acquired one loan so far of Rs. 3,570 crore.
BUSINESS
MC Explains: What happens to your expired bank-issued gift cards? Here’s the answer
According to RBI data, 11.6 million bank-Issued gift cards worth Rs 85.25 crore expired as of December 31, 2022.
BUSINESS
Bandhan Bank raises fixed deposit rates by up to 0.5 percent. Check what you'll get
Also, customers can avail 8.25% on scheme called fixed deposit plus for a tenure of more than 2-3 years, the bank said. Senior citizens will get 8.80 per cent.
BUSINESS
MC Exclusive | Bank of Baroda will continue giving loans to Adani Group: CEO Sanjiv Chadha
Earlier in the day, the Reserve Bank of India issued a statement, saying Indian banks remain healthy.
BUSINESS
Bank of Baroda Q3 result | Here are five key highlights
Bank of Baroda Q3: Net Interest Income (NII) has risen by 26.5 percent to Rs 10,818 crore in the third quarter.
