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How trust deficit at multiple levels is hampering animal spirits and growth in India

India’s economy and businesses are facing many measurable, well-understood challenges. But an invisible crisis that is just as corrosive and harder to fix is underway: the erosion of trust. This is playing out at multiple levels.

Government mulls raising insurance cover on bank deposits to above Rs 1 lakh: Nirmala Sitharaman

FM said the government will bring legislations on raising bank deposit cover from the current Rs 1 lakh.

Debt Recovery Tribunal stops DHFL from making payments

Move comes a day after Bombay HC told DHFL to pay banks, NBFCS with securitisation deals

Co-op banks’ body proposes Rs 5 lakh cover for deposits, risk-based premium

In a letter to FM Nirmala Sitharaman, representatives of Sahakar Bharati, which is associated with more than 20,000 co-operatives across India, have suggested raising the deposit insurance limit for individual account holders to Rs 5 lakh from Rs 1 lakh while that for institutional customers to Rs 25 lakh.

Banks may be given incentive to extend loans in backward areas: RBI Dy Guv MK Jain

Speaking at an event organised by the National Bank for Agriculture and Rural Development (NABARD), Jain said despite impressive growth in formal agriculture granted, there are still several challenges which need to be tackled.

DHFL can pay banks and NBFCs with which it has securitisation deals: High Court

The Bombay High Court has allowed DHFL to make payments to banks and NBFCs that have securitisation arrangements with the stressed mortgage financier. The order came after a clutch of lenders, including the State Bank of India (SBI), Bank of Baroda, Standard Chartered Bank, Canara Bank and IDFC First Bank, approached the court.

Another auditor arrested in PMC Bank scam

This is the eighth arrest in the case. Anita Kirdat (35), a 'concorrent auditor' of the bank, was arrested on Tuesday. Her responsibility was to ensure a "systematic and timely examination" of the bank's financial transactions. Kirdat audited the bank's transactions monthly, but allegedly could not or did not point out irregularities in its processes.

HDFC Bank plans to reach 200 branches across Northeast India

Assam is the gateway to the NorthEast and our endeavour is to make a difference in their lives through our banking services as well as in the society through our social initiatives. We have already impacted more than 15.5 lakh people in the state so far and we are humbled by the trust and support they repose in us. We remain committed to keep serving our customers.

Banks Board Bureau recommends names for heading 3 state-owned banks

The Bureau recommends the following candidates, in order of merit, for the position of the MD & CEO in Bank of Baroda, Canara Bank and Bank of India, BBB said in a statement. The decision on the appointment will be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. PM Modi, in 2016, approved the constitution of BBB

Pay-to-performance may make it tough for banks to lure top talent

The mandate, intended to motivate the top management and make it more responsible, may instead end up reducing the lure of banking sector among domestic and global professionals, some experts warned even while others welcomed the new pay guidelines based on “pay for performance principle”.

Are millennials spawning next wave of NPA piles for banks?

Are millennials spawning next wave of NPA piles for banks?

The number of millennials, opting for a new loan grew 58% as against a 14% growth in non-millennial segment.

EOW arrests two auditors in connection with PMC Bank scam

EOW arrests two auditors in connection with PMC Bank scam

The Economic Offences Wing (EOW) on Monday arrested two auditors in connection with PMC Bank scam and will produce them in Court today seeking their police remand.

Just 5 banks claim 80% of UPI’s big billion October fest

Just 5 banks claim 80% of UPI’s big billion October fest

State Bank of India, HDFC Bank, Axis Bank and ICICI Bank together account for more than 45% of the total transactions reported on UPI last month, according to numbers sourced by ET from bankers in the know of the matter.

Bank of Baroda integrates 30,000 employees of Vijaya, Dena Banks in 7 months

Bank of Baroda integrates 30,000 employees of Vijaya, Dena Banks in 7 months

To begin with, BoB brought the entire set-up under a four-tier structure that it originally had, created more zones and regions, and adopted a unified reporting structure. “This exercise we did in April helped smoothen the other business processes and systems that had to be aligned,” said Roy.

Ensure adequate credit to small businesess: Anurag Thakur

Ensure adequate credit to small businesess: Anurag Thakur

"Banks should also focus on genuine customers who need financial support to grow their businesses and the MSME sector, which is the backbone of our economy, needs a lot of support from the banking industry," Anurag Thakur said at the 101st foundation day celebrations of the state-run Union Bank of India here this evening.

PMC bank scam: EOW of Mumbai Police opposes anticipatory bail pleas of 2 directors

PMC bank scam: EOW of Mumbai Police opposes anticipatory bail pleas of 2 directors

Parmeet Sodhi and Surjit Singh Narang had filed anticipatory bail applications before additional sessions judge S T Soor here.

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