BANKING

My NPAs, your NPAs

It is a common enough notion in the market and among investors that private sector banks have superior asset management skills and consequently, a miniscule amount of toxic assets. This popular narrative has, in turn, led to a rising demand for th

The road not taken

In May 2014, a committee headed by PJ Nayak, former chairman and CEO of Axis Bank, came out with a report that laid out a roadmap for setting public sector banks (PSBs) free from the government’s ownership. The report was prescient in its as

MPC cuts interest rate by a quarter point

In the fourth bi-monthly monetary policy statement, the Reserve Bank of India’s monetary policy committee (MPC) reduced the repo rate by 25 basis points, from 6.5 percent to 6.25 percent. The MPC, headed by the newly appointed RBI governor U

Preventing bad loans

The level of NPAs with public sector banks accumulating over the last many years has seen a sharp spike and is not going to come down in a short or medium time frame. It is also necessary for us to understand that if the economy of a particular co

You will now need to submit KYC just once

In a move that will save a lot of banking hassle for customers, the Reserve Bank of India (RBI) and the Insurance Regulatory and Development Authority of India (IRDAI) have directed banks and insurance companies to upload KYC documents relating to

HDFC Bank takes the honours

 HDFC Bank Ltd. emerged as the Most Honoured Company in the latest ranking released by Institutional Investor magazine. Called the All-Asia Executive Team rankings 2016, the survey had 1,394 investment professional at 582 financial

“We have opened over 36 lakh accounts under PMJDY”

Oriental Bank of Commerce (OBC) has a reason to smile at a time when many of the public sector banks (PSB) are struggling due to bad loans, non-performing assets (NPA) and economic slowdown. While the combined net loss of 20 PSBs stood at Rs 1

Thus spake outgoing RBI governor Raghuram Rajan

Amidst the speculations and debate over serving a second term as Reserve Bank of India (RBI) governor, Raghuram Rajan declared that he would return to academia after his term finished in September. Rajan is known for witty and honest views on econ

Beyond the rate: Rajan’s prognosis for economy

In the second bi-monthly monetary policy statement of 2016-17, RBI governor Raghuram G Rajan on Tuesday decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.5 percent. On the basis of an assessment of t

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. You would then have multiple apps on your handset, a

What about people`s right to know who the bank defaulters are?

The Reserve Bank of India (RBI) has submitted to the supreme court, in sealed cover, a list of defaulters on loans worth Rs. 500 crore or more, according to

Seven changes to notice as new financial year begins

 As we enter the new financial year from Friday, here is how our lives will be affected with the budgetary provisions coming into effect from April 1.  Train tickets booked from the counter can be cancelled on a phone

Lessons from NPA crisis

The bad loan in the name of Vijay Mallya is more than the total default on education loans in the country at a little over Rs 5,000 crore. But still his case is just a drop in the ocean of non-performing assets (NPA) worth Rs 4 lakh crore, which i

MUDRA: Big help for small business?

As he launched the Pradhan Mantri Mudra Yojana (PMMY) – where Mudra stands for ‘Micro Units Development and Refinance Agency’ on April 8, prime minister Narendra Modi made an important observation. He noted that in our country on

Small neighbourhood payment banks to become a reality soon

Payment banks will soon be a reality with the Reserve Bank of India (RBI) granting “in-principle” approval to 11 applicants to set up payments bank, which includes big players like Aditya Birla Nuvo Limited, Airtel M Commerce Services

Seven-point Indradhanush may lift PSU banks

Indradhanush, the seven-pronged strategy for public sector banks announced by the government has a potential to boost the performance of PSU banks but may fail on three counts, says a report by CRISIL Ratings. The government had ann

HDFC Bank initiative to take clean and safe banking to the rural India

To bring awareness about dangerous consequences of borrowing money from unorganised financial sector, HDFC Bank Ltd has launched an educational video film called ‘Dhanchayat’. As part of HDFC Bank’s swachch banking

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 establishment of more banks. He was speaking at a talk organi

PMJDY: An account of change

Nobel laureate Amartya Sen, in his book ‘Development as Freedom’, referred to Mary Wollstonecraft’s classic ‘A Vindication of the Rights of Women’, in which she outlined the general programme of ‘vindication&rsq

MUDRA Bank to be launched on April 8

Giving a major boost to the micro-finance sector prime minister Narendra Modi will launch MUDRA (Micro Units Development and Refinance Agency) Bank on April 8. Finance minister Arun Jaitley in his budget 2015 speech had announced the formation of

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