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The risk is high especially from the real estate sector where credit from NBFCs has been choked off. Starved of liquidity, builders are struggling to pay their non-bank lenders, who in turn are defaulting on their dues to banks.
The biggest challenge traditional financial institutions face comes from fin-tech startups and Silicon Valley giants
"The membership of our bank employees in unions participating in strike is very few, so the impact of strike on Banks operation will be minimal," SBI said in a filing to stock exchanges last week.
While SEBI permitted those mutual funds who had segregated the bad DHFL loans to join the inter-creditor agreement ICA in August 2019 with a conditions of keeping investor interest paramount , many mutual funds had not completed these conditions.
The bank's shares slipped nearly 3 percent as revenue at three of its four major businesses fell, including a 15 percent drop in investment banking revenue because of lower advisory and underwriting fees
That the Central Bank has halted the printing of high value bank notes was conveyed by the Reserve Bank of India (RBI) in a response to an RTI query.
On October 14, Sanjay Gulati, another distressed depositor of the PMC bank, succumbed to a heart attack.
RBI’s rejection of the deal basically indicates that it does not trust the books of non-bank companies, particularly, those with links to the real estate sector. That would have ripple effect across the sector and increases the risk of contagion as fear and a trust deficit spreads throughout the financial system.
The floating rate is linked to an external benchmark and will be independent of the loan amount or duration.
India fared well below developed economies as well as its BRICS peers
The merger is scheduled to come into force from April 1 next year.
The move is especially expected to benefit small savers and senior citizens
A similar rumour had spread back in 2017 after Whistleblower News India's video on Youtube claiming the same had gone viral.
It is possible that some of the branches will be closed resulting in disruption of locker facilities, as also some of the ATM outlets being reshuffled etc.
Always follow the right procedure when cancelling a credit card. Otherwise, it could adversely impact your personal finances and affect your credit report.
The market-linked mechanism would mean that current promoters go for a stake sale to bring new money into the set up.
Sources told Moneycontrol that the insurance regulator and banking regulator will clarify their position within the next three months.
MoS Finance Anurag Thakur said that banks should treat the Insolvency and Bankruptcy Code as the last resort for resolution of stressed assets and approach the NCLT only when other options have been explored.
In this episode of Digging Deeper, we look at the merger in some detail, what it means for the sector, and also take a look briefly at what the future could look like for the banking sector in India.
You will have to open a savings/current account with a bank if you do not have one already, pay rent in advance for the financial year and make a fixed deposit that covers rental charges for three years.
In terms of volume, UPI-based transactions increased to 5,353 million in 2018-19 from 915.2 million, a jump of 83 percent in a year, according to the data.
The interest rate under external benchmark shall be reset at least once in three months.
The interest rate under external benchmark shall be reset at least once in three months, it said.
In order to ensure growth in future, it is crucial to have proper risk management practices to curb increase in distressed assets.
It comes against the backdrop of the government's announcement on August 30 about merging 10 public sector banks into four entities, as part of which PNB will merge Oriental Bank of Commerce (OBC) and United Bank of India (UBI) with itself.