All Banking & Crypto Related Details

The banking regulator once again cautioned against the proliferation of virtual currencies, calling the instruments a 'danger'. "Cryptocurrencies are a clear danger," RBI governor Shaktikanta Das noted in the foreword to the report. "Anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name." from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/SqgJQkB via IFTTT

“This could potentially reduce their lending and adversely affect overall economic activity, especially in countries with high fiscal vulnerability and less capitalised banking systems,” said the report. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/EjI3sel via IFTTT

The London-headquartered bank is preparing to relaunch the business in India at a time when its increasing its focus on Asia, which is the biggest region in terms of its profit generation with Greater China and India among its main markets. Currently, HSBC focuses on catering to wealthy Indians from its global hubs in Singapore, London and the Middle East. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/7V4XSH2 via IFTTT

Stress tests were conducted on a select set of UCBs to assess credit risk (default risk and concentration risk), market risk (interest rate risk in trading book and banking book) and liquidity risk, based on their reported financial positions as of March 2022. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/pNRUXTd via IFTTT

The number of fresh borrowers at 67.61 lakhs for private sector banks under the government's ECLGS scheme is three times the fresh borrowers attracted by public sector banks who managed only 22.65 lakh new borrowers. Private banks disbursed Rs 95700 crore compared to Rs 79800 crore disbursed by public sector banks, according to Reserve Bank's latest Financial Stabilty Report. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/7ihLXzN via IFTTT

The RBI’s clarification that prepaid payment instruments (PPI) - a licensing category that includes e-wallet operators in India - can only be loaded via cash, bank accounts and credit cards issued by regulated entities does not prevent digital finance platforms from offering loans backed by banks and other non-bank financial companies. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/t1ymDik via IFTTT

By BY RON LIEBER AND AUDRA MELTON from NYT Your Money https://ift.tt/YUhpjZm via IFTTT

Banks are staring at significant mark-to-market losses in April-June quarter as some of them approached the Reserve Bank of India seeking a one-off relaxation following rises in bond yields. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1NfmU0g via IFTTT

The program will offer a host of benefits such as the option to choose from over 10,000 premium restaurants across India and Dubai, instant confirmation on table reservations, and exclusive offers on dining reservations made through the EazyDiner app. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/7mczJ4j via IFTTT

This partnership will help Axis Bank build operational efficiencies in the cash management process. It is also expected to speed up the payment cycle and help in releasing the bandwidth of field agents who operate across the country. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/uKY439P via IFTTT

Amidst the volatilities in the market, here are the five best reasons, why you should invest in the markets now from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/KIXzHLs via IFTTT

As geopolitical tensions prevail, Investors should with switch from debt funds to equity markets with a balanced investment strategy like Systematic Transfer Plan (STP) from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/T08b4VE via IFTTT

Both the banks disclosed that they or their associates or subsidiaries, in the normal course of business, may have business dealings with Perfios AA at an arm's length. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/72BkjLe via IFTTT

"Talking about the market and the economy, it will largely depend on the war situation and its impact on inflation and the central banks’ response to inflation. And obviously how banks respond to interest rate hikes. Compared to the first quarter last year, this year is pretty good so far because the same period last year was completely washed out due to Covid-2." from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/CXeAwEG via IFTTT

By BY TARA SIEGEL BERNARD from NYT Your Money https://ift.tt/B9MVybo via IFTTT

To be sure, a reversal in the rate trends could impact spending on borrowed funds. India's central bank has raised rates twice in the space of a month beginning early May to restrain inflation. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/DBW7Mt8 via IFTTT

The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, requires the central government to hold at least 51% of public sector banks. The earlier thinking was that Centre should retain at least 26% stake during privatisation and that this could be brought down gradually. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/rUOtsIM via IFTTT

“We are no more vulnerable as we were at some point of time when our capital adequacy was very low, provision coverage ratio was low, bad loan ratios were high, skill levels were low. All those are behind us. We have gained stability but yes, there is scope for further improvement,” Ramakrishnan said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/2yquFJ0 via IFTTT

It also estimated that the Risk-Adjusted Capital (RAC) ratio of ICICI Bank will dip marginally below 10 per cent due to strong credit growth from 10.4 per cent as of March 31, 2022. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/BLET8sI via IFTTT

The widening of these margins can be attributed to recent interest rate hikes undertaken by the Reserve Bank of India (RBI) in order to tame inflation. In addition to that, higher policy rates and favorable funding structures might also contribute to the larger margins, the report said. This, in turn, will help to generate higher returns on assets or ROA. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/aLI5CRV via IFTTT

Many private sector banks started cutting their exposure to small businesses when the pandemic broke out but with government guarantees coming in and stress turning out to be less than expected, they sharply increased their market share in FY22. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/p1GoK2D via IFTTT

Slices of loans waived to lessen the strain on defaulting borrowers are being interpreted as 'benefits' that lenders are passing on to borrowers under the new provisions the government has come out on tax deducted at source (TDS). from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ihrHdOw via IFTTT

As per the Insolvency and Bankruptcy Code (IBC) rules, the administrator had to close the resolution of RCL within 180 days -- by June 3. In addition, the CoC also decided to extend the last date for submission of the resolution plan by the prospective bidders from June 20 to July 11. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/U1d9smg via IFTTT

According to the sources, banks were asked to sanction loans for productive sectors to accelerate the revival of the economy facing headwinds, including the Russia-Ukraine war. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/uZTJXBr via IFTTT

DHFL and HDIL are realty and housing finance businesses run by two branches of the family. Rakesh Wadhawan of HDIL is the younger brother of the late Rajesh Wadhawan, whose children Kapil and Dheeraj now run DHFL. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/pXLzYxB via IFTTT

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The bank would look to raise Rs 5500 crore through Basel III compliant additional tier 1 bonds, while the target to raise through tier 2 bonds is fixed at Rs 3500 crore. The timing and extent of fundraising would however entirely depend on the market conditions, the bank said in a regulatory filing to stock exchanges. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/PNgQulA via IFTTT

Instead, RBI has asked for tokenisation as a safer and more convenient alternative to card storage. Through tokenisation, one’s sensitive card information can be replaced with a non-sensitive uniquely generated code called ‘Token’. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/iDGbqzN via IFTTT

State Bank of India, the country's largest lender, last week increased the retail rate by 20 basis points, or 0.2 percentage point, for fixed deposits of less than two years. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/7smWFBn via IFTTT

As per the Reserve Bank of India’s latest order, all merchants must delete customer debit and credit card data on or before June 30 and replace card payments with unique tokens for all online, point-of-sale and in-app transactions. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/z1tkDnw via IFTTT

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Belgium-based SettleMint, US-based Corda Technologies and IBM would provide technology support for the project driven by the Reserve Bank of India’s (RBI) Innovation Hub in Bangalore, three people familiar with the matter told ET. Axis Bank, Bank of Baroda and Union Bank of India are also involved. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/b520pwM via IFTTT

"We first identified the areas for transformation like Advances, HR, Technology and Customer experience and completed the task successfully. Our entire KBL staff today is repositioned as a sales and marketing team." from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/E1tKuhe via IFTTT

Compounding potentially shows great effects with the tenure of our investments. Here's how: from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/H35LxYt via IFTTT

Mutual funds may be the best investing for people with financial experience as well as those who have decided to begin their financial journey. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/iuOl05k via IFTTT

It's one of the largest non-performing asset (NPA) pools being sold as a single block by any bank in recent times. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Lc6drRg via IFTTT

For their part, fintech companies likened the order to giving traditional banks significant control of the sector's innovation stack, potentially affecting their business models. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/fl1KBLk via IFTTT

"The branch will be digital from a customer on-boarding and transaction/servicing perspective. It will provide the emotional connect and relationship management necessary for offering financial solutions to our customers. These branches will be small in size and will be phygital relationship centres," Jagdishan said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/OwndcVW via IFTTT

Nassim Nicholas Taleb discusses different systems that are present in our society today, in his book. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/IufwFhr via IFTTT

​​​The bank is also expected to launch additional products and services under Digital 2.0 including a new payments platform for its customers and merchants. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/T8Mxb3C via IFTTT

Floating Rate Fixed Deposit is a unique offering designed to benefit customers by enabling them with an asset class that offers the safety of a fixed deposit along with dynamic returns which are linked to the Repo rates published by the central bank. These FDs can be availed for a tenure of 1 year to less than 3 years. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Uu62azn via IFTTT

The company has decided to henceforth invest in distressed assets through its AIF and will look for a buyer of its more than 90% stake in the ARC, five people familiar with Apollo's plans said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/TKdLjNz via IFTTT

Taking over LVB helped DBS Bank India add over 550 branches and 900 automated teller machines (ATMs) to its relatively small presence in the country. DBS continues to be among the small set of global lenders, who have signed up to operate as a wholly-owned subsidiary as desired by the local authorities. A DBS Bank India statement said its strategy envisages significant growth in SME and consumer businesses. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/pCmy86K via IFTTT

PNB said it has made the PPS facility live through all branches, internet banking services retail and corporate PNB ONE as well as SMS banking and asked its customers to avail the facility of PPS by submitting the requisite details of the cheque issued by them through these means. Reserve Bank of India had issued the guidelines to provide the facility of PPS for cheques of Rs 50,000 and above and advised that the banks may consider making it mandatory for the cheque of Rs 5 lakh and above. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/6jZuPxY via IFTTT

"The interest rate hike is in line with the market scenario. If compared historically, the rates are still at a very competitive level. Therefore, we will see sustenance in demand for home loans," its Managing Director and Chief Executive Officer Y Viswanatha Gowd said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/BOW9bNy via IFTTT

Taking over LVB helped DBS Bank India add over 550 branches and 900 automated teller machines (ATMs) to its relatively small presence in the country. DBS continues to be among the small set of global lenders, who have signed up to operate as a wholly-owned subsidiary as desired by the local authorities. A DBS Bank India statement said its strategy envisages significant growth in SME and consumer businesses. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/pCmy86K via IFTTT

Contactless has become the preferred way of payment for the majority of affluent clients, particularly for everyday necessities such as food and groceries, gasoline, and medication stores and pharmacies. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ZEtpxI4 via IFTTT

Davis spoke also about various facets of microfinance and its challenges, the issues that had plagued Ujjivan’s journey during the pandemic, besides sharing Ujjivan’s future business plans which include raising equity and debt capital and the proposed venture in gold loan segment. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/lkBsaK3 via IFTTT

Earlier in January, the country's largest lender SBI had put in place new rules which said a woman candidate with more than three months pregnancy will be considered "temporarily unfit" and can join the bank within four months after delivery. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/c4uEeZD via IFTTT

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These Indian banks will likely open accounts at their Russian counterparts and vice versa, as decided last week in meetings held in New Delhi to ensure smooth trade flows without violating the economic sanctions on Russia over the Ukraine war. The Reserve Bank of India is expected to come out with an operational circular, paving the way for this. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/TZgujGJ via IFTTT

Banks would be urged to sanction loans for productive sectors to accelerate the revival of the economy facing headwinds including from the Russia-Ukraine war, sources said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/WvXpumh via IFTTT