Changes in banking regulation law aimed at improving governance in cooperative banks: FM
Moving the Banking Regulation (Amendment) Bill, 2020 in the Lok Sabha, Sitharaman said the government was compelled to come out with an ordinance during the lockdown period as the condition of the cooperative banks was "grave".
Reserve Bank of India looks to sort out e-KYC matter for non-bank lenders
The government has been hesitant to give non-banks entities the acc...
HDFC Bank looks to increase number of banking correspondents to 25,000 by March
The bank is looking at its tie-up with the government's commo...
India Ratings revises banking sector outlook to negative
“The spike in stressed assets due to pandemic is expected to double the credit costs for banking system than estimated pre-COVID-19 levels for FY21,” India ratings said.
Co-operative Banks now under RBI's ambit, Banking Regulation (Amendment) Bill, 2020 passed in Lok Sabha
In a bid to protect the interest of depositors, the Lok Sabha on Wednesday passed an amendment to the Banking Regulation Act to bring cooper...
India's fraud-hit PMC Bank asked other major banks for a merger, says administrator
Authorities started investigating Punjab and Maharashtra Co-operative Bank (PMC) for fraud last year and the Reserve Bank of India (RBI) took control of it after detecting financial irregularities.
Yes Bank to get fresh forensic investigation into its top 10 defaulters
While Yes Bank did not respond to an email query, its chief Prashant Kumar had hinted about a planned approach against defaulters last month.
Bank of Maharashtra, Indian Overseas Bank slash MCLR by up to 10 bps
State-run Bank of Maharashtra has slashed its marginal cost of funds based lending rate (MCLR) by up to 10 basis points for select tenors effective Monday.
Central Bank of India reduces MCLR by 5 bps
Chennai-headquartered public sector lender Indian Overseas Bank has cut its MCLR by 10 bps across all tenors, effective September 10.
South Indian Bank cuts MCLR by 0.05 pc across tenors
The benchmark one-year MCLR, which is mainly factored in to decide most consumer loan rates, has been reduced to 8.20 per cent from 8.25 per cent. Rates for all other tenor loans, from overnight to six-month period, have been reduced by a similar quantum each to the range of 7.80 - 8 per cent, the private sector lender said.
Bandhan Bank collection efficiency ratio touches 80 per cent in August
The ratio, which is improving on a "daily basis", is likely to be over 90 per cent in October, it said. "Our micro borrowers have showed great resilience. The ability to get back on feet is exemplary and there has been no destruction of their assets," MD & CEO Chandra Sekhar Ghosh said.
Aditya Birla Idea Payments Bank ceased to be banking company: RBI
The decision to shut operations by the Aditya Birla Idea Payments Bank was taken due to unanticipated developments in the business landscape which have made the economic model unviable, a regulatory filing by the Vodafone Idea Limited had said in July last year.
Interest of bank depositors has to be protected: RBI governor Shaktikanta Das
The government and the RBI have held that borrowers should not be compensated at the expense of depositors. Brokerage firm Macquarie has calculated that a waiver of interest will cost the banking system ₹2.1 lakh crore while waiver of compound interest will cost about ₹15,000 crore.
Lok Sabha passes legislation to bring cooperative banks under RBI's supervision
Replying to the debate on the bill, Finance Minister Nirmala Sitharaman said this legislation is for depositors' safety and not for undermining powers of the Registrar of Cooperative Societies.
Bandhan Bank appoints Kumar Ashish to head Emerging Entrepreneurs Business vertical
Ashish spent about two decades at ICICI Bank, and prior to his new role in Bandhan Bank, he was ICICI Bank's senior general Manager & retail business head for North India.