All Banking & Crypto Related Details

In April 2018, the regulator had asked banks to consider using lockable cassettes in their ATMs, which shall be swapped at the time of cash replenishment. It was to be implemented in a phased manner, covering at least one-third ATMs operated by the banks every year, so that all ATMs achieve cassette swap by March 31, 2021. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/XnbAPRY via IFTTT

Do all asset classes move in sync – the answer is again No. Different asset classes are often uncorrelated. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ZesYJzq via IFTTT

Credit growth to industry rose 6.5 percent year-on-year (y-o-y) in February 2022 from 1.0 percent in February 2021. But a distinct trend is that loan growth to large corporates turned positive, recording a marginal growth of 0.5 percent against a contraction of 0.6 percent during the same period, according to the data on sectoral deployment of bank credit released by the Reserve Bank of India. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/W64zNyx via IFTTT

Canara Bank has reduced its stake in India Debt Resolution Company Ltd (IDRCL) to 5 per cent. The bad bank or the National Asset Reconstruction Company Ltd (NARCL) will acquire bad loans from banks to help clean up their books, while the IDRCL will handle the debt resolution process of these loans. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/oWJsk75 via IFTTT

HSBC India will expand its lending to microfinance institutions and non-bank finance companies, with ADB will partially guarantee the loans. About 4 lakh borrowers can be supported through this initiative, HSBC said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/dG9WRwb via IFTTT

American banking major Citi has joined a long list of foreign banks that have either exited or cut down on their business presence in India with the sale of its consumer banking business to Axis Bank for Rs 12,325 crore. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Fukl1Oz via IFTTT

There are several juggling acts going on here, apart from the millions of small businesspeople reconciling their accounts across the many services that have sprung up as an alternative to cash and plastic. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/MCrhts8 via IFTTT

SBI, which is India's largest lender by assets, had gross non-performing assets of 1,200 billion rupees at the end of December, representing 4.5% of its loan book, of which retail loans accounted for more than 619 billion rupees. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/RdSEjXw via IFTTT

Axis will pay to Citi cash consideration of approximately $1.6 billion for the acquisition of the consumer business, subject to customary closing adjustments. The transaction comprises the sale of the consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/XIeToEC via IFTTT

The remarks come amid a steep decline in Paytm's shares, which are now trading 75 per cent lower than the price at which investors bought them at the initial public offering. This is not the first time that Puri has gone public with his concerns on the models of such companies. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/hsyU7fo via IFTTT

Axis Bank is the fourth-largest issuer of credit cards with a total base of 8.6 million cards. Its retail book is nearly Rs 4 lakh crore. On the other hand, Kotak has a card base of 3 million. Citi’s retail book is nearly Rs 68,000 crore, of which retail loans account for Rs 28,000 crore. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Sr02dhP via IFTTT

Since the creation of a rupee-rouble exchange channel is likely to feature in the talks, the team of officials from Moscow may also include representatives from Russia's financial sector. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/L5xsp9N via IFTTT

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/7YPg4cZ via IFTTT

ECCB has accorded the approval "for acquiring the entire stake, i.e., 13.82 per cent of existing shareholders of SBI Global Factors Ltd (SBIGFL) namely SIDBI, Bank of Maharashtra and Union Bank of India subject to receipt of all regulatory approvals," SBI said in a regulatory filing. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/VLszt7j via IFTTT

ELSS funds can acquire returns that are twice or more than a usual savings scheme. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Tw6mjUz via IFTTT

It will comprise additional tier I (AT-1) bonds up to Rs 3,000 crore and senior/infrastructure bonds up to Rs 1,000 crore by way of private placement during FY23, the lender added. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/6e5aRov via IFTTT

As per inputs received from Reserve Bank of India (RBI), Capital to Risk-weighted Assets Ratio (CRAR) of PSBs has improved substantially over the past three years, increasing from 12.20 per cent at the end of 2018-19 to 14.34 per cent as on December 31, 2021, MoS for Finance Bhagwat K Karad said in a written reply to the Rajya Sabha. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/IQuZ7k3 via IFTTT

IDRCL was incorporated on September 3, 2021, to carry on the business as a debt management company and to do all kinds of debt management. It will do operational management and consultancy services in relation to debt resolution for an asset reconstruction company or investment trust or any other portfolio of securities. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/7LdQCfD via IFTTT

"As per our reports, in the Southern Grid functioning in Chennai, during our strike yesterday and today, about 6 lakh cheques/instruments worth about Rs 5,000 crore could not be sent for clearance as branches did not function due to the strike," All India Bank Employees Association (AIBEA) general secretary CH Venkatachalam said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/92bUtyl via IFTTT

ELSS funds can acquire returns that are twice or more than a usual savings scheme. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Tw6mjUz via IFTTT

Significantly yields have slowly inching up It moved up from a range of 3.38-10.44 percent in early November to 3.84-12.15 percent by mid-March'22, RBI data showed. Fortnightly issuances too fell from a peak of Rs 1.72 lakh crore to just Rs 44,532 crore during the period. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/FOVPq7z via IFTTT

STFC is primarily engaged in second-hand truck purchases. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/VheEt6v via IFTTT

Scheduled commercial banks (SCBs) and All Indian Financial Institutions report certain credit information of all borrowers having aggregate credit exposure of Rs 5 crore and above to the RBI, under its CRILC database, since the quarter ended June 2014, Minister of State for Finance Bhagwat Karad said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/i1gTbPq via IFTTT

The uniform microfinance guidelines along with the higher digital penetration would change the contour of microfinance in India in line with what happened in most Asian countries, says Suryoday Small Finance Bank Managing Director R Baskar Babu. He expects the market to evolve into an interest rate sensitive one where a customer would choose a lender based on loan pricing. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/a436GDs via IFTTT

Transactions at many public sector banks have been impacted as employees have not reported for duty. Besides, there might be a delay in cheque clearances and government treasury operation might also be affected by the strike. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ktlLdIx via IFTTT

The award for 2020-21 was given to the bank upon analysing performance with a 360-degree view on various business parameters with a scoring model, it said, adding, the parameters included growth in deposits, advances, net profit, capital adequacy, credit deposit ratio, quality of assets, profit per employee and return on assets. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Wl9a3ZJ via IFTTT

The unions are opposing the government's decision to privatise public sector banks, as well as their moves regarding the Banking Laws Amendment Bill 2021. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jvlEOwf via IFTTT

By BY DAVID YAFFE-BELLANY AND RON LIEBER from NYT Your Money https://ift.tt/XVZ961Y via IFTTT

The loss in market share took place even before the RBI liberalised rules on lending to this sector — lifting the cap on interest rates charged. The new rules are expected to enable NBFC-MFIs to be more competitive and gain market share. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/YZ6sNMu via IFTTT

Bankers as well as regulators sense that the nature of sanctions in response to Russia's invasion of Ukraine are more serious compared to the curbs that were imposed on transactions with Iran. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/we4ob9t via IFTTT

IndusInd Bank invited offers for the Rs 142 crore secured principal loan given to Kishore Biyani promoted Future Retail and Rs 105 crore principal loan given to Asian Hotel Delhi under the 15:85 basis, the people said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ciqSU8g via IFTTT

All government transactions done by agency banks for financial year 2021-22 must be accounted for within the same financial year. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Z4maDvq via IFTTT

The regulator had conducted an examination of the debt capital market operations of Axis Bank during the August 2016 to August 2019 period. It was observed that Axis Bank (noticee) had acted as the merchant banker in respect of 22 public issuances of debt of various companies during the given period. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/8oLe0KV via IFTTT

ONDC was incorporated on December 30, 2021, with an early investment from the Quality Council of India and Protean eGov Technologies Limited. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/njJ5SPv via IFTTT

Reserve Bank Innovation Hub (RBIH) is hosting the 'Swanari TechSprint' from April 18-22. It aims to create and produce smart, creative, and sustainable solutions supporting women's advancement in financial growth and independence and for women-owned enterprises in India. TechSprint will specifically connect fintechs, financial service providers, innovators, and subject matter experts to collaborate, ideate and solve specific problems in real time, Federal Bank said in a release on Thursday. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/w1z6giF via IFTTT

The RBI has set up the RBIH as a Section 8 company under Companies Act, 2013, with an initial capital contribution of Rs 100 crore to encourage and nurture financial innovation in a sustainable manner through an institutional set-up. RBIH, RBI said, aims to create an ecosystem that focuses on promoting access to financial services and products for the low-income population in the country. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/7WUHaV8 via IFTTT

Out of the total 128 requests, involving bank frauds of Rs 21,074.43 crore, a highest of 101 requests were pending with Maharashtra (involving amount of Rs 20,312.53 crore) during 2019 to 2022 (up to February 28, 2022), it said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/KI1ug39 via IFTTT

State-owned Bank of Maharashtra raised Rs 290 crore in Basel III compliant Additional Tier 1 (AT1) bonds of Rs 290 crores at 8.75 per cent. The lender completed the fundraising on Wednesday while Punjab National Bank is planning to raise capital soon in either AT1 bonds or tier 2 bonds or in a combination of both. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/GexYIrB via IFTTT

By BY TARA SIEGEL BERNARD from NYT Your Money https://ift.tt/m3TqczD via IFTTT

In an interaction with MC Govardhana Rangan and Bodhisatva Ganguli, the younger Bajaj shares his views on subjects as diverse as 'speaking truth to power' to the creation of a business that has grown in lockstep with rising disposable incomes. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ErshGcn via IFTTT

The report also corrects the popular notion of credit disbursement being interchangeably used as bank credit (non-food bank credit in particular), saying the trend was true only until 2017, since then bank credit in total commercial credit has been declining. Primarily after the RBI's asset quality review and NBFCs quickly filled the gap. But this couldn't last long after IL&FS went belly up and then DHFL too went bankrupt in 2018. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Y6XxP52 via IFTTT

“We are delighted to collaborate with CSK to introduce a co-branded credit card, which offers the CSK fans a bouquet of exclusive privileges from the iconic team and distinct banking benefits from ICICI Bank,” Sudipta Roy, Head – Unsecured Assets, ICICI Bank. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Sg9Vzh2 via IFTTT

ONDC was incorporated in India on December 30, 2021 and is into creating an open public digital infrastructure to develop and transform the Indian digital commerce ecosystem for both goods and services. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/zSORtC3 via IFTTT

The strike has been called to oppose the government's move to privatise public sector banks and the Banking Laws Amendment Bill 2021. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/dxo8m6t via IFTTT

Spandana called a board meeting on March 18 and announced the appointments of Saxena as MD and Ashish Damani as chief financial officer for five years with effect from March 19. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ncy5qZ9 via IFTTT

None of the 34 Indian banks surveyed in the report have a long-term net zero target year with an implementation plan covering so-called scope 1, 2 and 3 emissions, which cover direct green house gas emissions, indirect emissions through electricity or energy purchased, and those attributable to its supply chain or vendors. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/2OlsbXC via IFTTT

Among other potential investors, YES Bank has also held discussions with Carlyle and Advent, according to the report. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3vdXHJk via IFTTT

​​"The meeting of the board of directors of the company is scheduled on 29 March 2022, to consider and approve the proposal for raising of capital through the issuance of Basel-III compliant additional tier-1 bonds and/or tier-2 bonds or a combination thereof, in one or more tranches for FY2022-23," PNB said in a regulatory filing on Monday. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/aMuYqV4 via IFTTT

The figures are for the last three financial years and up to December 2021 of the current fiscal. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/UQ9s4S2 via IFTTT

Sovereign bonds now yield higher than traditional bank deposits - and can be sold easily. A 10-year government bond yields around 6.80% semi-annually, compared with 5.40-6.30% offered by the State Bank of India across categories for similar-maturity fixed deposits. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/0JODdhW via IFTTT