All Banking & Crypto Related Details

The Reserve Bank of India (RBI) has pulled up several multinational banks operating in the country for not providing a board-approved system audit report certifying compliance with its data-localisation norms. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3i8wmIr via IFTTT

As per data submitted by Shivajirao Bhosale Sahakari Bank, more than 98 per cent of the depositors will receive full amount of their deposits from the Deposit Insurance and Credit Guarantee Corporation (DICGC), the RBI said in a release. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3g3Iw30 via IFTTT

"The Bank has taken steps like attachment of properties of defaulter borrowers, public auctions of the same, filing criminal suits against defaulter borrowers/guarantors, etc. The Bank has also informed the names of its defaulter borrowers/guarantors to other banks for effective recovery," said Sudhir Pandit, administrator, Rupee Bank. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3uCsxOy via IFTTT

"Because we have such a high taxable profit, we thought that this is the right time for us to transit into the new tax regime which lowers the tax rate for the bank from 33-34% to 25%." from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3vPmg3z via IFTTT

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This is in addition to Beaufort's current responsibility as the head of the bank's eight branches and chief of corporate and institutional banking (CIB) in India. Beaufort will take over his additional responsibilities from September 1, the bank said in a statement. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/34xdKtP via IFTTT

The launch of the new schemes was announced by SBI chairman Dinesh Khara and Indian Banks’ Association chairman Rajkiran Rai on Sunday. Khara said that SBI has decided to price its unsecured loans at 8.5%. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/2ROYOEP via IFTTT

“Last year, the government received a lot of complaints from customers on delays and deficiencies involving public sector banks. Different PSBs had different procedures and service levels. To ensure all banks are equally proactive, it was decided that a single template will be used to invoke restructuring for these loans,” said a person familiar with the decision. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3wKTuRv via IFTTT

Deutsche Bank has had a bumpy ride ever since the Global Financial Crisis. In the past few years, it has shed businesses, restructured and changed focus. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/2SLgT6s via IFTTT

According to analysis of the corporate bond yields, bank's MCLRs and GSecs between January 2020 and March 2021 by Care Ratings, AAA-rated companies could sell their debt at a cheaper rate than bank loans to the extent of 46 bps, and AA+ papers by 33 bps over the MCLR or the marginal cost of funds-based lending rate and below which a bank cannot lend. When compared to the Gsecs, AAA and AA+ papers could command only 100 bps over the benchmark gilts. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/34wImM4 via IFTTT

To support the businesses affected by the second wave of COVID-19, the Finance Ministry on Sunday enhanced the scope of ECLGS, including providing concessional loans to hospitals/nursing homes for setting up on-site oxygen generation plants. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3i3bpi9 via IFTTT

This is a one-time loan restructuring scheme under which the loan would remain standard despite recast and banks would not have to make additional provision in such cases. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3p4BJdt via IFTTT

The city-headquartered state-owned bank had acquired a stake in the life insurer post amalgamation of the erstwhile Oriental Bank of Commerce (OBC) into itself last fiscal year. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3wFJdpI via IFTTT

The bank said it has committed an initial amount of Rs 100 crore in the current fiscal year for Covid-19 relief initiatives. Last year, the bank had contributed Rs 120 crore towards relief measures. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3ux3xYQ via IFTTT

As per IBA direction, branches will now perform minimum activities like cash deposit and withdrawals, clearing of cheques, government transactions, remittances etc. The branch is now operating with 50% workforce. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/34wg7Nz via IFTTT