All Banking & Crypto Related Details

"No transactions involving entities, banks, ports or vessels appearing" on a U.S., European Union or United Nations sanctions list shall be processed irrespective of the currency of the transaction, said a letter sent by State Bank of India (SBI) to certain clients. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/XMG7PWy via IFTTT

A SIP is a mode of investing in Mutual Fund schemes regularly. When you start a SIP, a fixed, predetermined sum gets deducted from your bank account at fixed intervals and is invested in the scheme of your choice. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/7ps5MyF via IFTTT

Mutual Funds can help you with goal-based investing, thanks to SIPs. You can start a SIP for each financial goal. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/VTNqlBI via IFTTT

Open Ended Equity Mutual Funds significantly allocate their assets in the equity shares of the top 100 companies in terms of full market capitalization. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Vl8m3YF via IFTTT

BoB is the third biggest public sector lender after State Bank of India and Punjab National Bank. Adhia retired as Revenue-cum-Finance Secretary in November 2018. It was during his tenure as Financial Services Secretary that the decision to split the post of Chairman and Managing Director of public sector banks was taken to foster greater transparency in decision making. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/xCh5OIq via IFTTT

Jain will take over from Samrat Khosla, who is moving to a new role within the bank. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/zakm7Rv via IFTTT

The government hasn't given any official instructions on blocking the banks, said a person familiar with the matter. It will be business as usual till the government orders otherwise. The official added that the sanctions imposed by the US and its allies will not impact trade flows between India and Russia. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Vd1wCof via IFTTT

The TPG-IndusInd combination is competing with three other such groups that have got formed ahead of the mid-March binding bid deadline. It is after a long time that each of the shortlisted contenders - home-grown banks and global asset management firms - in the fray has tied up with a private equity firm. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/FxD3GNB via IFTTT

These special securities with tenure of 10-15 years are non-interest bearing and valued at par. Such bonds usually are non-interest bearing and issued at a deep discount to the face value. So, the effective Tier 1 capital levels for the banks could be lower than the regulatory requirement. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/pefa9CX via IFTTT

The homegrown NPCI is an umbrella organisation for facilitating retail payments and settlement in India through the RuPay gateway. It is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) to create a robust payment and settlement system. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3isdZOe via IFTTT

By BY RON LIEBER from NYT Your Money https://ift.tt/rQSvngE via IFTTT

Russia invaded Ukraine by land, air and sea on Thursday in the biggest attack on a European state since World War Two, prompting tens of thousands of people to flee their homes. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/NxgdQcK via IFTTT

Last December, IL&FS proposed a debt recast for Chenani Nashri Tunnelway Ltd (CTNL), after a ₹3,900 crore deal to sell the special purpose vehicle to I Squared Capital's Cube Highways did not fructify, the people said. IL&FS wanted Cube to improve the offer after signing the agreement, they said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/FZsXCOz via IFTTT

Ignoring inflation means you will save much less than what you will need years down the line. You have to invest in such a way that you beat inflation, that is, earn returns that are at least a couple of percentage points above the inflation rate. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/I9itaxG via IFTTT

People sometimes act like there’s no limit to the company’s success and no price is too high. Historically that’s been dangerous in most cases. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/TBEMle8 via IFTTT

By BY ANN CARRNS from NYT Your Money https://ift.tt/ixwVdrN via IFTTT

The Commercial Indo Bank, a joint venture between public-sector State Bank of India (SBI) and Canara Bank, is the only Indian bank with a presence in Russia with a small balance sheet of $100 million. Trade between India and Russia is also miniscule at just above $8 billion. All these factors are helping bankers relax even as the crisis in Ukraine has turned worse. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/qNYK4l2 via IFTTT

Kochhar submitted in the Bombay High Court that ICICI Bank reneged from its contractual commitments and cannot terminate a person who has already retired. As per people in the know, the stock options due to Kochhar could run into over Rs 1,000 crore at current market value. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/wBPeK9M via IFTTT

"The CoR of the company has been cancelled on account of supervisory concerns such as gross violations of RBI directions on outsourcing and Know Your Customer norms," the central bank said in a statement. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Q0wLA95 via IFTTT

In a circular, Reserve Bank of India (RBI) said it has been decided that NBFCs - Middle Layer and NBFCs - Upper Layer with 10 and more 'fixed point service delivery units' as on October 1, 2022 shall be mandatorily required to implement CFSS. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/RvC9KjU via IFTTT

In the past three-and-a-half years, SFBs have delivered robust 42 per cent compound annual growth rate (CAGR) followed by private banks at 13 per cent and foreign banks 8 per cent while loan growth for public sector banks was the lowest at 2 per cent during the same period. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/LWyRBFY via IFTTT

This comes even as some banks had reached out to the government seeking clarity given that the Reserve Bank of India has asked them to account for these bonds at fair value. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/O8WUv47 via IFTTT

Most people have realised the significance of digital banks. In today’s time, when people have found a balance with a hybrid way of working, such a system makes more and more sense. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/h3X7aAT via IFTTT

The launch of the Central Bank Digital Currency (CBDC) will also fuel the move by banks to take up decentralised finance in a big way. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/OEfjDxp via IFTTT

Under the Insolvency and Bankruptcy Code (IBC) framework, only the RBI can refer a finance company for insolvency proceedings. Lenders are of the view that a resolution under IBC will be a transparent process thus generate interest among prospective buyers, the people said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/nxedBXQ via IFTTT

​​In his keynote address, the chief minister emphasised the need for concerted action by State Government Departments, Banks and NABARD for realising the credit potentials so as to increase farmers’ income. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/fnTvgGo via IFTTT

The 'IRCTC BoB RuPay Contactless Credit Card' is specially curated to offer the maximum savings to the frequent travellers on the Indian Railways, the officials said at the launch. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/iChBezM via IFTTT

The CBI had questioned former Chairman and Managing Director of ABG Shipyard Rishi Agarwal last week as well and would continue to record his statement in the coming days on various aspects of alleged diversion of funds as pointed out in the forensic audit conducted by banks, officials said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/hQrMpV9 via IFTTT

"Banks will have to be a lot more customer friendly. Not to the extent of taking adverse risks which you don't need to take, but you need to be a lot more friendly to customers," the minister said. Sitharaman had a few suggestions for the banking community and also spoke out against their attitude. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/PHXNulf via IFTTT

By BY TARA SIEGEL BERNARD from NYT Your Money https://ift.tt/5bLVcWH via IFTTT

The regulatory direction comes after an assessment showed that valuing these instruments at face value could create a misleading picture of the banks’ financial strength and set a precedent that could be exploited in future by others and weaken the banking system. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Fj71k8B via IFTTT

The funding comprises a direct ADB loan of $58 million and another $10 million concessional loan from the Canadian Climate Fund. The Canadian fund will also be routed through ADB. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/rMi2OT3 via IFTTT

Jaimini Bhagwati's appointment is for a period of three years with effect from February 18, 2022, subject to approval of shareholders. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/oLnr4i0 via IFTTT

"In the spirit of highest corporate governance principles of the bank, I would like to step down as director of the bank in order to preclude any instances of potential conflict of interest which may arise on account of such transactions/arrangements as regards my directorship with the bank," Srikanth Nadhamuni said in his resignation letter. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/QXINt4E via IFTTT

IDRCL is an asset management company set up by the government with an authorized capital of Rs 50 crore. It will work in tandem with the National Asset Reconstruction Company Ltd (NARCL) to clean up the banking sector's bad loans. IDRCL will provide management and resolution of assets acquired by NARCL. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/SUHe0gP via IFTTT

By BY ANN CARRNS from NYT Your Money https://ift.tt/UTyCoHO via IFTTT

Pralay Mondal, who has three decades of banking experience with several top lenders such as Axis Bank, HDFC Bank and YES Bank, has been with CSB since September 23, 2020 as president (retail, SME, operations and IT). from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/IBqAhvH via IFTTT

NBFCs auction mortgaged gold if customers fail to repay the loans in time. Many small businesses had taken gold loans soon after the withdrawal of the nationwide lockdown in 2020 to restart their businesses. However, before their businesses could recover fully, the second wave of the pandemic hit them. This forced many to falter on loan repayment. The spike in auction by gold loan companies shows that many small businesses are yet to recover from the impact of the pandemic. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Y315cqN via IFTTT

Top bankers expect the momentum to continue, with an increase in demand and the government placing its thrust on infrastructure spending and capacity expansion. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/SY8jrFX via IFTTT

The rating agency expects capital expenditure to rise to has to about Rs 7 lakh crore each fiscal 2022 and fiscal 2023 up from Rs 5.5 lakh crore achieved in fiscal 2021 on the back of a demand ramp-up by end-FY22 and a further pick-up in FY23 with an economic recovery. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/CcJmhrQ via IFTTT

“We have revised the outlook on the overall banking sector to improving for FY23 from stable, as the banking system's health is at its best in decades. The improving health trend that began in FY20 is likely to continue into FY23,” India Ratings and Research said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/RlJtMTO via IFTTT

ICICI Bank recorded the lowest bounce rates by volume while Kotak Mahindra Bank and IndusInd Bank posted higher bounce rates among peer private banks owing to large exposure to vehicle and self-employed loans. Other lenders like HDFC Bank, State Bank of India and Axis Bank recorded an improvement in bounce rates and were close to ICICI Bank's levels. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/HgG2JLD via IFTTT

The RBI had in 2016 as part of norms for resolution of large borrowers envisaged the constitution of an Overseeing Committee (OC), but its latest guidelines in 2019 on, 'Prudential Framework for Resolution of Stressed Assets,' did not mention such a requirement. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/6Aeqn3T via IFTTT

Zombie firms are those that often survive longer than desirable taking advantage of countercyclical policy support, thwarting the process of reallocation of resources from weak and vulnerable firms to strong firms having high growth potential. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/K3YygLR via IFTTT

However, Kapoor will continue to be lodged at the Taloja jail in other cases registered by the CBI and ED. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Tym6PAC via IFTTT

For the moment, the government is open to selling its entire 94.71% stake. This includes LIC's 49.24% equity stake, which comes with management control. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/TsDeOcq via IFTTT

As per the bank's policy on determination and disclosures on material events, PSB said it has declared this non-performing account (NPA) as a fraud account. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/nyAMs2P via IFTTT

The statement said the Aditya Birla Group brings unmatched global operating experience across diverse sectors and markets spanning 36 countries, and a formidable financial services experience with funds under management of USD 57 billion. Crespin, who has an experience of over two decades, will be the co-founder and chief executive of Zand and is seeking to deploy 'hybrid digital strategies' to build the lender. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/nEKo5Zv via IFTTT

The promoters of erstwhile DHFL, Kapil and Dhiraj Wadhawan are currently in jail in connection with the cases registered by CBI and the Enforcement Directorate for the alleged fraud caused to Yes Bank in connivance with the bank's cofounder Rana Kapoor who is also lodged at Taloja jail on the outskirts of Mumbai. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/LWAmCvk via IFTTT

Deloitte India, which is doing an external review on the matter, is likely to submit its report in a week’s time, two people familiar with the issue said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/kOxhcDz via IFTTT