Tata Tele Business Services (TTBS) introduced Smart Office solution to the SMEs in Mumbai. Smart Office is an innovative single box solution crafted to meet all Information and Communication Technology (ICT) requirements of businesses. It’s
“Demonetisation has created an entire system of digitisation and financial inclusion,” said PK Gupta, managing director (Retail and Digital Banking), State Bank of India, at the launch of the Governance Now India Financial Inclusion Ca
An efficient monetary transmission is a sine qua non for the successful pursuit of its objectives by any central bank. Over the past two decades, it has been the endeavour of the Reserve Bank of India to strengthen the monetary transmission proces
“We need soon a much more powerful plan – “Sudarshan Chakra” – aimed at swiftly, within months if not weeks, for restoring public sector bank health, in current ownership structure or otherwise,” said Reserve
The public sector banks which are teetering under the burden of non-performing assets need help from the government in the form of capital support. Former Reserve Bank of India (RBI) governor Raghuram Rajan has sai
Beginning with Tamil Nadu in 2016, domino effects have spread in 2017 to several states and the total cost of farm loan waivers announced amounts to around Rs 1,30,000 crores, which is 0.8 percent of GDP, said Reserve Bank of India governor
As much as Rs 15.28 lakh crore out of Rs 15.44 lakh crore of the scrapped currency has come back, the Reserve Bank of India said on Wednesday. RBI released its annual report 2017 which said that the volume of notes in circulation con
India will soon have a few robust and competitive public sector banks (PSBs) after the cabinet gave its approval to amalgamate PSBs. The decision regarding creating strong and competitive banks would be solely base
Swift, time-bound resolution or liquidation of stressed assets will be critical for de-clogging bank balance sheets and for efficient reallocation of capital, said Reserve Bank of India governor Urjit Patel. Addres
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 Jaitley
“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 his keynote address at the Governance Now, India Ba
RBI deputy governor SS Mundra has spoken about the idea of ‘account number portability’, which he had first advocated a couple of years ago. “Back then the concept might have appeared somewhat abs
Recent regulatory actions in India suggest the authorities are making a more concerted push to tackle banks` bad loan problems, says Fitch Ratings. "We believe that asset resolution will be a dominant theme in the sector over t
The Asset Reconstruction Companies (ARCs) have been sold Rs 2.44 lakh crore worth of gross non-performing assets (NPAs) even as the current stock of stress in the Indian banking system is estimated at Rs. 11.80 lakh crore, according to an AS
It has been decided to conduct a field trial with plastic banknotes at five locations of the country, said Arjun Ram Meghwal, minister of state in the finance ministry in the Lok Sabha. The minister said th
“As regards death of currency, it is not a new subject. It has been predicted right from early 1950s,” said R Gandhi, deputy governor Reserve Bank of India (RBI) at the “FinTech Confe
The Reserve Bank of India (RBI) has sought public feedback the draft circular on rationalisation of Merchant Discount Rate (MDR) for debit card transactions. MDR is the rate charged to a merchant by a bank for providing debit and cr
The Reserve Bank of India (RBI) on Thursday kept the repo rate, which is the short-term lending rate, unchanged at 6.25 percent. Repo rate is the rate at which the central bank of a country lends money to commercial banks in the eve
The Reserve Bank of India has cautioned about virtual currencies, including Bitcoins. The RBI advised that it has not given any licence / authorisation to any entity / company to operate such schemes or deal with Bitcoin or any virt
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 Ratings. Cash shortages caused by the de