WFH could ‘Uberise’ some bank jobs
SBI chairman Rajnish Kumar recently said in an interview that the bank was planning to move to a work-from-anywhere model rather than just work-from-home
Axis Bank to wind down UK subsidiary
The lender has been reviewing its international strategy and as part of this, has adopted a clear object...
Chinese banks go slow on large loans
Charge filings with the Ministry of Corporate Affairs, compiled by data intelligence provider Propstack,...
SBM Bank India, Mastercard to facilitate cross border transactions, remittances
Remittances and payments businesses have become the cornerstone of SBM Bank India's growth strategy. As banking evolves to become more personal, platform-agnostic and always-on - the Bank has been leading the collaboration narrative to access the best-in-class solutions with its switching partner, YAP, the statement said.
Federal Bank bets on gold loans to drive credit demand in sluggish economy
The bank is targeting gold loan growth to touch 35 per cent during FY21 as against 29 per cent in FY20.
Axis Bank to close British subsidiary, focus on Indian business
"In line with this objective, the bank has taken a decision to fully wind down and close the operations of Axis Bank UK Ltd, a subsidiary of the bank, and targeting for surrendering of the banking licence by end of April 2021," bank said in regulatory filings at stock exchanges late on Thursday after closing hours.
Foreign banks fret over RBI’s proposal for a board in India
The foreign lenders are flummoxed by the regulator’s suggestion to form board of directors in India.
HC queries Centre, RBI on different treatment to PMC Bank depositors vis-a-vis Yes Bank
The court noted that as per a March notification issued by the Centre, the RBI as well as the central government had a crucial role to play in the decision taken to permit, firstly, the Yes Bank Limited Reconstruction Scheme 2020 being brought into play and, secondly, to have it funded.
Bank credit grows 6.18%, deposits 11%: RBI data
Rating agency Crisil in a recent report said bank credit growth is likely to nosedive to a multi-decadal low of 0-1 per cent in 2020-21 as economic activity is sharply impacted by the COVID-19 pandemic.
Banking Act amendment is credit positive for depositors, says Moody's
Yes Bank was the latest to be put under moratorium on March 5 after it failed to raise capital in time. Depositors could not withdraw more than Rs 50,000 from their accounts. Also, electronic transactions to and from Yes Bank accounts were frozen, causing some borrowers to miss their monthly payments. Moody's said the new amendments will help depositor confidence.
RBI asks banks to speed up ATM upgrades as deadline looms large
Most banks have not initiated upgrades on cassette swap, e-surveillance and digital locks as their cost analysis of such an overhaul is significantly higher than central bank’s estimates, said people aware of the matter.
April-May bank loan contraction lesser than last year's
Loan growth to all major sectors contracted during April-May, RBI data shows. Loans to industry contracted 1.5 per cent compared to 2.5 per cent dip last year. Loans to services contracted 2 per cent compared to a dip of 5.3 per cent last year. These two sectors account for about 60 per cent of the banking sector's loan portfolio.
Bandhan Bank, small finance banks emerge as job creators amid coronavirus pandemic
These lenders are in the process of raising staff strength by 5-10% in the next three-four months, although several others in the sector might be more circumspect. The new workforce will largely be deployed for client servicing and to boost repayment, people familiar with the matter said.
PNB fraud: Banks may liquidate Nirav Modi's Firestar International
The lenders are divided over the future of the company as the Enforcement Directorate has initiated proceedings under the Prevention of Money Laundering Act (PMLA) against the Nirav Modi group and assets of the parent company are currently in the enforcement agency’s custody.
Cooperative banks brought under RBI supervision
The Union Cabinet approved inclusion of co-operative banks under supervisory powers of the Reserve Bank of India, while announcing a Rs 1,542 crore year-long interest subvention scheme for micro loan borrowers.
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