Keyword : Banks

Efficient PSU banks to be rewarded, to get Rs 6990 cr

Finance minister in the budget speech talked about the need of infusing more capital in the public sector banks (PSBs) to keep them in line with Basel-III norms. Following which finance ministry ha

Hackers on prowl: $ 1 billion stolen from over 100 banks

Internet security firm Kaspersky Lab has revealed that hackers have stolen approximately $1 billion from over 100 banks in 25 countries and termed it as one of the largest bank heists.  It als

Cut interest rates soon, RBI tells banks

Sounding impatient, Reserve Bank of India governor Raghuram Rajan on Tuesday made a harsh comment on the banks reluctance to lower consumer interest rates. Rajan`s harsh comments reflect th

Banks to have internal ombudsman to hear customers complaints

In the interest of consumers, the Reserve Bank of India has asked all public sector and large private banks to appoint internal ombudsman. "The internal ombudsman would be desig

Banks to take control of defaulting companies & change managements

In far-reaching and forward looking measure the Reserve Bank of India is going to allow banks to convert debt of defaulting companies into equity and bring about change in management of these compa

Banks will lower lending rates, EMIs to drop further

Finance Minister Arun Jaitley seems have put pressure and extracted a promise from commercial banks on further reduction of interest rates, thus making home, auto and other loans cheaper. The EMIs

Banks nationalisation was a sin, says economic advisor

Terming the nationalisation of banks in the 1960’s as one of the ‘biggest economic sins’ in the history of India, chief economic advisor, Arvind Subramanian called for establishme

Heavy rains keep Chennai on edge, banks will be functioning on Sunday

Chennai is slowly limping back to normalcy but the city is still on edge as many areas witnessed heavy rains this morning. Thousands of military personnel and social activists were engaged in a maj

Gold scheme modified with premature withdrawal to lure investors

After two months, the government has tweaked Gold Monetisation Scheme (GMS) and made it easier for the customers to participate.  “A number of suggestions have been receiv

Mallya case: banks to learn their lesson

The recent statement from the liquor baron Vijay Mallya indicating he may

Lok Sabha clears insolvency and bankruptcy code

 As the banking sector reels under bad loans, the Lok Sabha on Thursday cleared the Insolvency and Bankruptcy Code that aims to regulate insolvency including time-bound recovery of dues from d

A unified way of doing banking

The banking coverage might be poor in rural parts but in cities many people have at least two bank accounts. Keeping a tab on them is a hassle. More so, if you are managing them on a smartphone. Yo

The potential of forensics

Using IT in forensic science is no longer restricted to the realm of sci-fi. It can help the government and agencies in cracking cases like those arising from the Panama Papers, rising NPAs of

Be cautious or else you may fall prey to debit card fraud

 The news of vital data of thousands of debit cards being exposed to fraudsters has sent many into a tizzy, with people now calling up their banks and looking up Google on what to do next. Tho

Fake in India: a counterfeit economy

Sahil got a shock when the bank employee told him that one of the 20 notes of Rs 500 he had brought to deposit was a counterfeit. He was also embarrassed – at being fooled as well as being po

Overhauling of banking system could be next

Over a period of time, banks may go in for mergers, consolidation and lots of thinking was going into the entire process, said Banks Board Bureau chief Vinod Rai. “The entire p

Report cash deposits of Rs 10 lakh or more: CBDT to banks

Central Board Direct Taxes has asked banks to report cash deposits aggregating to Rs 10 lakh or more in a financial year, in one or more accounts (other than a current account and time deposit) of

Demonetisation may delay Indian banks’ asset-quality recovery: Fitch

Demonetisation is likely to push back the recovery in Indian banks` asset quality, given the disruptive impact that cash shortages have had on the country`s large informal economy, said Fitch Ratin

Does the nation have a right to know anything about DeMO-ReMo?

The demonetisation of currency notes of Rs 1,000 and Rs 500 denomination that the government announced on November 8, 2016 and the subsequent remonetisation of the economy has affected almost every

Reforms meaningful only if understood in proper perspective: Mundra

“Any intended reforms will be meaningful only if they are understood in proper perspective which all stakeholders have to value,” said RBI deputy governor SS Mundra while delivering h

A fifth of Rs 29 lakh crore are NPAs

Banks have advanced a staggering Rs 29,46,060 crore to the industrial sector, of which Rs 6.93 lakh crore are non-performing assets (NPAs).   Finance minister Arun Ja

NSIC’s online finance facilitation centre launched

 Minister of MSME/ Khadi and Village Industries Commission (KVIC), Uttar Pradesh, Satya Dev Pachauri inaugurated National Small Industries Corporation’s (NSIC) Online Finance Facilitatio

Rains bring Mumbai to its knees

Torrential rains on Tuesday wreaked havoc in Mumbai and a day later, all government offices, schools and colleges will remain closed. Only employees providing emergency services will be on duty.

Is insolvency an exit route for promoters of housing firms?

In ordinary circumstances, a real estate company can take loans from banks only to bridge gap between ‘inflow’ and ‘outflow’ of funds required to complete the project as per

Specify deadline for Aadhaar linkage, SC tells banks, telcos

 The supreme court on Friday asked the banks and the telecom service providers (TSP) to specify a deadline in their messages for linking accounts with Aadhaar.  The apex court c

FRDI Bill provides additional protection to depositors

 The government on Thursday said that provisions of the Financial Resolution and Deposit Insurance Bill, 2017 (FRDI Bill) were meant to protect interests of depositors. The FRDI Bill



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