RBI fines SBI for not following instructions on worker pay
The regulator additionally carried out an examination of the correspondence with the financial institution relating to fee of remuneration to its staff within the type of fee to reach at its resolution. The Reserve Bank of India on Tuesday stated that it has imposed a financial penalty of Rs 2 crore on State Bank of […]
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Retail stress hits non-public banks hardest: Govt knowledge
“Moratorium has delayed the stress in these segments where delinquencies have not yet stabilised, and higher loan losses are expected to materialise in FY22,” the company stated in a report. Rising monetary stress amongst small debtors is hitting the books of personal banks the toughest, present knowledge launched by the federal government in response to […]
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Deposit base rising 5-7% constantly for final 6 months: Airtel Payments Bank MD
Active customers are the individuals who transact with the payment bank or individuals who hold cash with it. Airtel Payments Bank has been witnessing roughly 5-7% month-on-month progress in its deposit base constantly for the last six months, its MD & CEO Anubrata Biswas stated on Wednesday. Presently, the financial institution has two crore active […]
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SEBI approves UPI handle as Paytm Payments Bank can now issue payment mandates for IPOs
Paytm Payments Bank had processed 340 million UPI transactions in February 2021. (File image) Paytm’s UPI handle @Paytm can be used to invest in capital markets through different brokerage platforms as SEBI approves the UPI handle of Paytm for applying IPO. On Monday Paytm Payments Bank announced that capital market regulator Securities and Exchange Board […]
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Home loan rate of ICICI Bank drops to 6.7%
on loans above Rs 75 lakh, ICICI Bank is charging a rate of 6.75% or more. Much like SBI, ICICI Bank too is offering the revised rates till March 31. Private sector lender ICICI Bank on Friday announced a reduction in interest rates to 6.7% for loans of up to Rs 75 lakh amid a […]
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IFSC codes of Bank branches changed e-Andhra, e-Corporation
IFSC codes of e-Andhra and those of e-Corporation Bank branches have been changed. Old IFSC codes of branches of both banks will not be valid from April 2021 since the the e-Andhra and e-Corporation Bank have been amalgamated with Union bank of India. IT integration of both the banks has been completed without changing the […]
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credit growth at 6.6% in February, Bank lending activity now stronger than last year;
The credit growth of banks ranged between 6.5% to 7.2% in April 2020. Banks gave out credit at a faster rate during the fortnight ending February 12, as compared to the same period last year, helped by an increase in retail loans. The bank credit growth was recorded at 6.6%, marginally higher from the 6.4% […]
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Nitesh Ranjan assumes charges as Union Bank Executive Director
Union Bank of India has declares Nitesh Ranjan as the bank’s executive director. Nitesh Ranjan has been with the bank since 2008. Prior to Union bano of India, Ranjan was chief general manager, responsible for steering various goals of the bank, including end-to-end digitisation, according to a report. Bank of Maharashtra has said AB Vijayakumar […]
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IDBI Bank exit from PCA, subject to Terms & conditions
IDBI Bank’s exit from PCA is a crucial step towards carrying out the government’s bank privatisation programme, as it is one of the lenders identified for sale. As per The Reserve Bank of India (RBI) on Wednesday IDBI Bank has been taken out of the prompt corrective action (PCA) framework, with some specific conditions. The […]
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More Indian savings need to channel into equities: Uday Kotak
“Even today, a disproportionate part of the PE and VC industry is foreign savings, while Indian savings are not getting enough channelised into these segments,” Kotak said. Uday Kotak, Kotak Mahindra Bank executive vice chairman and managing director said on Wednesday that India needs to channel more of its savings into equities and the capital […]
