All Banking & Crypto Related Details

Most OPBs are investing in technology to attract young customers. According to analysts, they invest Rs 100-250 crore every year on modernisation. Still, at a functional level, they have not been able to reach the levels of an HDFC Bank or ICICI Bank. But tech systems of some of them are better. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/DgqzrJm via IFTTT

It is the largest stressed loan sale by any bank seeking upfront payment from the buyer. The bank has set a ₹1,544-crore reserve price on the outstanding loan of ₹3,815 crore. So far, most big-ticket distressed loan sales were structured deals involving part payment in the form of security receipts that would be redeemed upon recovery from defaulting borrowers. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/G8nXHvd via IFTTT

Growth in the credit to services sector accelerated to 8.9 per cent in the reporting month as compared to 3 per cent in the year-ago period, mainly due to significant improvement in credit growth to NBFCs (Non-Banking Financial Companies) and robust credit offtake in trade and transport operators. Personal loans segment continued to expand at a robust rate and grew by 12.4 per cent in March 2022 from 10.7 per cent in March 2021. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/X2TDYMA via IFTTT

GoPik shared that it is focused on becoming a comprehensive digital FINANCIAL ECOSYSTEM for the underserved and will continue to expand its footprint across India. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/36jX59A via IFTTT

"Healthy economic growth and budgetary support from the government should lift bank credit growth by 200-300 basis points to 11-12 per cent this fiscal," Crisil Ratings said in the report. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ewB3gRN via IFTTT

The government nominee directors are Manoj Sahay, Joint Secretary and Financial Advisor, and Sushil Kumar Singh, Director, Department of Financial Services, Ministry of Finance, according to a regulatory filing. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/LQkoCqn via IFTTT

The option was proposed by some of the participants at the roadshows who were of the view that an all-cash offer for the bank would work out to be too costly. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Kx5DcuM via IFTTT

Radius Group was one of the biggest borrowers on the erstwhile DHFL with an outstanding loan with interest of around Rs 3,000 crores for a residential project in suburban Mumbai. The project is a joint venture between Radius and Sumer Group. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9rQgil4 via IFTTT

In order to provide short term crop loans up to Rs 3 lakh to farmers at an interest rate of 7 per cent per annum, the government offers interest subvention of 2 per cent annually to banks. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Kckurwv via IFTTT

The service available for existing customers and hold regular income and pension accounts and PAPL loan product can be availed of through mobile application, bank's website and through internet banking facility. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/dUgo8pu via IFTTT

All about Short-Term Income Funds and things you need to know before investing in Short Term Income Funds. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Jru6Nei via IFTTT

Coined 'Xpress Car Loans', the country's largest private bank is offering end-to-end car loans to customers within 30 minutes through an online platform. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/vrM9wOd via IFTTT

The Bank posted an Operating profit of Rs148.99 lakh with net profit of Rs.1.61 lakh in 2021-22. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/hcIYfjr via IFTTT

As per the company’s website, Zee Learn Ltd runs Asia’s largest pre-school, Kidzee, with over 1900 operational pre-schools in over 750 cities across India and neighbouring countries. The company also runs over 120 Mount Litera Zee schools in about 110 cities across the country. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/vrGbmJe via IFTTT

Narayan is a commerce graduate from Mysore University with 40 years of experience in the banking and finance sector. He is a career banker who retired from SBI as Deputy MD, and also served as MD of SBT. Acharya is a practising Chartered Accountant from Bengaluru with about 30 years of experience. Earlier, he was a member on the board of SBM. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/6tD3kZI via IFTTT

The Union Cabinet has approved financial support of Rs 820 crore for India Post Payments Bank, a source said on Wednesday. The support will help state-run payments bank to penetrate deeper into the country, especially in the rural area and work towards financial inclusion. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/B91XRKm via IFTTT

The rules of the game on 'corporate guarantees' will change with the Reserve Bank of India (RBI) insisting on a water-tight, time-bound mechanism for the issuance of guarantees and their invocation by lending banks. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/txdp1To via IFTTT

The development assumes significance as several cases have come to light in the last few years where the promoters of NBFCs have diverted funds of the lender to private entities who in turn moved this money into third party companies. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/a0cCfVR via IFTTT

Strategies millennial investors can follow to maximize the returns of their investment. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/EYAMQ4s via IFTTT

Chief general manager Ashok Chandra said automation will eliminate errors and cut the time taken to initiate recovery to a few days from months earlier. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/TIRbGAB via IFTTT

In March, the bounce rates by value were at 22.8%, better than the pre-Covid range of 24.5%-25.0%, arresting the downward trajectory reflected all through FY22. Similarly, bounce rates by volumes, too, rose sequentially to 29.6% much better than the pre-Covid average of 30.5-31.5%. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/C6d2Knl via IFTTT

In PSB Manthan 2022, held last week, banks were asked to set up a three-year roadmap to improve their performance and competitiveness. Banks will focus on both geography-specific opportunities such as economic corridors and business sector-specific opportunities such as green energy. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/lVPzojD via IFTTT

The Statutory Inspection for Supervisory Evaluation (ISE) of the public sector bank was conducted with reference to its financial position as on March 31, 2020, it said in a release on Monday. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ndpGPcv via IFTTT

“Mulye’s focus will be to accelerate ABCL’s group synergies (including) strong parentage, balanced & lower risk lending portfolio, broad-based offerings across customers’ lifecycle, synergy potential and multi-channel distribution ecosystem,” ICICI Securities analysts said in a note. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/giUwlq5 via IFTTT

In a relief to Srei Group and its founder Hemant Kanoria, the Delhi High Court has ordered Punjab & Sind Bank to restrain itself from taking any further action on the company. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/XJbalZM via IFTTT

The banks, some of which are shareholders of NPCI, raised the issue at a recent meeting after the payments body expressed its reservations a few weeks ago on the fund flows through UPI for crypto trades, two persons aware of the discussions in the meeting told ET. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/o2HSNZW via IFTTT

In its letter dated April 19, the RBI stated that Fino Bank can carry out referral services of term deposit products in the form of FD and RD as a Business Correspondent of Suryoday Small Finance Bank (SSFB). from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/E4RlpkN via IFTTT

For you to understand whether a global fund of Indian Asset Management Companies (AMCs) is safe, let us see how it works from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/wiSrEm6 via IFTTT

"Bharti has found a way to generate profit in Indian fintech, and we model Airtel Payments Bank rising to $1 billion of revenue by 2030," London-based telecoms research firm New Street said in a note, adding that APB's current worth (read: valuation) is estimated at around $3.5 billion. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/G3DaApZ via IFTTT

The senior banker, who participated in the recently concluded Manthan 2022 - a meeting of the top PSU bankers, said the six working groups would look into functioning the public sector banks (PSBs) and suggest ways to improve customer service, digitisation, HR incentives, corporate governance and collaboration. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/FizD5p0 via IFTTT

Mulye, a career banker with three decades of experience behind her, will join her new role on June 1 as CEO designate, Aditya Birla Group announced late Saturday from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/quTftVH via IFTTT

During the investigation, it came to light that a big part of the proceeds of crime (POC) generated in this case has been siphoned off overseas by Rana Kapoor and hence they are not available for attachment directly under the provisions of Prevention of Money Laundering Act (PMLA), Enforcement Directorate said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/0YUAjqG via IFTTT

Axis Bank is the sole lender to vote against the resolution plan submitted jointly by the two, the sources said. Axis Bank has ₹159 crore verified claims, according to the disclosures made on the company website. The liquidation value of Sintex Industries was much higher than the offers received from all four bidders in the first two rounds. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/TzK24cn via IFTTT

Commercial papers (CPs) are shorter duration debt instruments generally issued by companies with maturities up to one year. One basis point is 0.01 percentage point. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/JW3SAbl via IFTTT

During the meeting with top executives of PSBs at Manthan 2022, Financial Services Secretary Sanjay Malhotra exuded confidence that public sector banks will continue to strive and perform better on all metrics, including profitability. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1jG3Zle via IFTTT

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

"We have seen a significant pick-up in home sales over the last many months and we are delighted to extend the good times for home buyers with the introduction of a special, limited period interest rate offer of 6.50 per cent along with nil processing charges," its general manager (mortgages and other retail assets) H T Solanki said in a release. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/p1wyH9F via IFTTT

This was the first meeting between the two central banks after Russia invaded Ukraine on February 24. The officials assessed the technical hurdles faced by exporters and importers in the two countries. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/T748XgR via IFTTT

In the fortnight ended on April 9, 2021, bank advances stood at Rs 108.88 lakh crore and deposits at Rs 152.11 lakh crore, according to the RBI's Scheduled Banks' Statement of Position in India as of April 8, released on Thursday. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/AJuqO1I via IFTTT

The regulator has asked banks to ensure that the overdue interest is not adjusted to the principal of the loan causing negative amortization. Banks have also been asked to ensure that unpaid charges, levies and taxes are not capitalised for compounding of interest. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/n9xBqoY via IFTTT

"We give special impetus to women entrepreneurs and businesses run by women. We also focus on providing financial literacy to them and link them with various digital platforms to expand their business," Roy said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/2dYNX8E via IFTTT

The Reserve Bank of India in a circular dated April 21, 2022, said that Nonbank financial companies (NBFCs) shall not undertake credit card business without prior approval of the RBI. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/bkg6nBf via IFTTT

It acquired a principal loan portfolio of ₹141 crore from Indian Overseas Bank at a reserve price of ₹84.8 crore under a structured deal of 25:75. Here, the ARC paid 25% of the transaction value upfront and the balance will be paid in the form of security receipts that will be redeemed as it recovers money from borrowers. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/2yhPtxi via IFTTT

In its letter dated April 19, the RBI stated that Fino Bank can carry out referral services of term deposit products in the form of FD and RD as a Business Correspondent of Suryoday Small Finance Bank (SSFB). from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/v9GILgO via IFTTT

In a notice to the stock exchanges IDBI Trusteeship has called for a meeting of debenture holders of RHFL on May 13. Lenders to RHFL led by Bank of Baroda (BoB) and Yes Bank had already approved Authum’s plan in June last year but bond holders constitute 41% of the debt. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ElnkBdS via IFTTT

Last year in December, in a sudden turn of events, the board of the bank had sent the then MD and CEO Vishwavir Ahuja on leave and elevated Rajeev Ahuja as the interim chief to take care of the day-to-day operations. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/pSIn2r7 via IFTTT

SBI, India’s largest bank by assets, jumped two spots to be ranked 22nd in the list with $695 billion in assets. HDFC Bank, the country’s private sector bank also improved its position to 44th from 46th last year. ICICI just about made it to the list at number 50 with $226 billion in assets. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/j23oLb9 via IFTTT

Gadkari further said the National Highways Authority of India (NHAI) should also have a financial arm like the Power Ministry's Power Finance Corporation (PFC) or the Railways Ministry's Indian Railways Finance Corporation (IRFC). from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/0JLmSR5 via IFTTT

Twenties are the best phases of your life to start your investing journey. Read to know more. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/FPZ7IHE via IFTTT

From that perspective, international mutual funds have played an important role in giving Indian investors access to overseas investments. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9Soj86w via IFTTT