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| 19 January, 2021, 10:20 PM IST | E-Paper
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    Banking

    Jan Dhan accounts cross 41 crore: Finance Ministry

    "Govt. committed to #FinancialInclusion to all citizens. As on 6/1/21, #PMJDY accounts cross 41 Cr. and Zero Balance Accounts decline to 7.5% from 58% in March 2015. Clearly showing the use and adaption by every account holder," the Finance Ministry said in a tweet.

    SBI, ICICI Bank, HDFC Bank remain systemically important banks: RBI

    The Reserve Bank had issued the framework for dealing with D-SIBs in July 2014. The D-SIB framework requires the central to disclose the names of banks designated as D-SIBs starting from 2015 and place these lenders in appropriate buckets depending upon their Systemic Importance Scores (SISs).

    SBI has some ATM safety tips for you

    State Bank of India warned its customers to be aware of the surroundings inside ATMs and check for spy cameras. It also said that while using ATM one should cover the keypads.

    J&K Bank board decides to transfer 8.23% stake to UT of Ladakh

    It is to be noted that the state was divided into union territories of Jammu & Kashmir and Ladakh after the abrogation of Article 370 in 2019.

    HDFC Bank submits outage control plan

    The bank is working on multiple immediate and long-term solutions as part of its internal review. “The action plan that the bank is working on could take anywhere between 10-12 weeks to implement,” said one of the persons.

    SBI initiates insolvency proceedings against Videocon promoters

    In a petition filed by Videocon resolution professional Asish Narayan on behalf of the group's largest lender State Bank of India (SBI), insolvency petitions have been initiated against the Dhoots in their capacity as personal guarantors to recover dues from the company.

    RBI orders senior officers to office in post Covid normalisation

    The 2020 RBI annual report shows that the central bank's total staff strength of 13,456 included 6670 Class 1 employees. About 2/3rds or 67% of these employees are designated as managers and above. All of them will now be expected to come to office.

    Citi appoints Arjun Chowdhry as head of global consumer banking, India

    Arjun Chowdhry will join the Asia consumer leadership team, ensuring alignment with global and regional priorities and attracting the right talent to build world class teams, the leading global bank said in a press release on Monday. Chowdhry will report to Ashu Khullar, CEO, Citi India and Fabio Fontainha, APAC and EMEA head of retail banking.

    Banks' low profitability, weak asset quality pose difficulty in boosting digitisation: S&P

    In its report titled 'Tech Disruption in retail banking: Top tier banks lead the change', S&P said India's digital disruption, however, poses a relatively low risk to its top-tier banks' longstanding market position.

    Long delays in power resolution tests bankers' patience

    Central Bank of India last week followed Indian Overseas Bank to sell its loans to Chhattisgarh-based KSK Mahanadi Power Co, as the project has failed to find a buyer more than 15 months after it was admitted for bankruptcy proceedings.

    Plea in Delhi High Court against Lakshmi Vilas Bank-DBS merger says shareholders shortchanged

    The petition was listed before a bench of Chief Justice D N Patel and Justice Jyoti Singh on January 13, but was adjourned to February 19 after the bench was told that the Reserve Bank of India (RBI) has moved a plea in the Supreme Court to transfer all pleas against the amalgamation scheme to the Bombay High Court.

    Debt trap: Inside the world of shady digital lending apps, which promise a loan in a minute

    Debt trap: Inside the world of shady digital lending apps, which promise a loan in a minute

    According to fintech industry sources, several lenders simply register an entity under the Companies Act, develop an app and start commercial lending. They peddle 7-30-day loans at high-interest rates — often 200-500% annualised. Most of these apps, recent investigations by NGOs and advocacy groups like Cashless Consumer reveal, are Chinese white-labelled apps with Indian names. The apps are mostly hosted on Chinese servers.

    Banks parked Rs 2 trillion excess cash amid RBI signalling

    Banks parked Rs 2 trillion excess cash amid RBI signalling

    The cut-off yield, above which banks cannot claim a rate for parking excess cash, was at 3.55 percent. That was higher than the average market expectations, dealers said.

    Need to bring govt-owned NBFCs under stricter prudential regulations: RBI

    Need to bring govt-owned NBFCs under stricter prudential regulations: RBI

    Reserve Bank of India (RBI) has highlighted the need to bring government-owned non-banking financial companies (NBFCs) under stricter prudential regulations.

    PSU lenders back Piramal’s DHFL bid

    PSU lenders back Piramal’s DHFL bid

    Although there are five eligible bids that creditors are voting on, the bid for DHFL has turned out to be a two-horse race between the Piramal Group and Oaktree Capital.

    IDFC First Bank enters credit card business

    IDFC First Bank enters credit card business

    Generally, the annual percentage rate or the APR for other banks ranges from 34-40%. Customers can also use interest-free cash withdrawal facilities at ATMs of up to 48 days

    BANKING STOCKS
    NSE
    BSE

    Company NameLatestChange%ChangeVolume
    HDFC Bank1503.8520.751.48680127
    ICICI Bank546.4513.32.4920575358
    Kotak Mahindra Bank188740.052.174805514
    State Bank of India298.64.151.4135803900
    Axis Bank668.7511.751.799010539
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