Most domestic banks too, have been aggressively growing their retail loan book considering a chunk of the Rs 8.5 lakh crore bad loans in the banking industry comprises of large company defaults.
The addition comes in as the bank expands its branch network & launches new products
Digital account-opening-application allows bank officials to capture information about the customer and business digitally and verify KYC documents in real-time
The cash crunch also proved that the push for digitisation in banking and payments is not going as planned, since the demand for cash is clearly rising.
The Reserve Bank of India has released guidelines on Friday asking all payment system operators to ensure that data is stored only within the country, and comply with the order by October 15, 2018.
Services such as maintaining accounts, registering, trading, settling, clearing, giving loans against virtual tokens, accepting them as collateral etc have been barred by RBI.
"Indian leaders struggle to adapt to change, being more comfortable in certain conditions. This limits their capacity to be flexible in the ambiguous digital environment," the report said.
The mid-size private lender is investing in upgrading skills of its employees across the bank in the fields of operations, risk management and marketing
NHAI has mandated timplementation of the National Electronic Toll Collection program for all national highways, which will help reduce the congestion, time taken to process toll at highways and enable reduction in revenue leakages
Employment in cab-hailing services such as UBER/OLA alone rose from 3 lakh in 2015 to over 10 lakh in 2018.
NPCI's statement comes in the wake of allegations made by the likes of Paytm founder Vijay Shekhar Sharma, who alleged that Facebook, which owns instant messaging app Whatsapp, was flouting the rules of a level playing field.
RBI has invited comments and suggestions by email or post before February 28, 2018
Jaitley said government will soon announce measures for effectively addressing non-performing assets and stressed accounts of MSMEs.
Anup Bagchi, Executive Director, ICICI Bank said, “These new propositions will help Ola’s driver-partners to manage their finances in a better way, while also enable customers of Ola to get easy access to instant credit in a simple manner."
From experimentation of use cases on the Block chain technology, AI and Machine Learning to bolstering operations through Bots, the industry is today geared to embrace challenges
Digital revolution will truly take place only when the infrastructure for mass public interaction areas like tolls, transit and retail are fully automated and digitized
Banks will look at finding their niche but focus will remain on their core lending and deposit business
The European Court of Justice (ECJ) ruled Wednesday that the U.S. ride-hailing app is a transportation firm and not a digital company. The verdict is a long-awaited judgment expected to have major implications for how Uber is regulated throughout Europe.
In an effort to boost digital payments, the Union Cabinet has decided to waive the merchant discount rate (MDR) applicable on all debit cards, BHIM and UPI transactions up to Rs 2,000.
In order to boost debit card usage for payments, the RBI on Wednesday that it will rationalise the framework for the MDR applicable on debit card transactions.
The quest for an open and accessible Internet, he said, often leads to vulnerabilities like cyber attacks, and a major focus area should be training of well-equipped professionals to counter cyber threats.
Prime Minister Narendra Modi's push to digitize the Indian economy has seen the introduction of Aadhaar — a unique identification number based on biometric information issued to residents of India — and attempts to reduce dependency on physical cash, although last November's surprise demonetization drive caused plenty of disruption.
The Reserve Bank of India is soon likely to issue clarifications on the guidelines for peer-to-peer (P2P) lending platforms relating to the lending limits, trusteeship and other operational norms.