All Banking & Crypto Related Details

​​While HDFC Bank hasn’t given any a breakup of the data on slippages, numbers from state-run banks that ET looked at did not show such trends. ICICI Bank reported slippages of Rs 5,037 crore in retail loans, including rural and business banking loans, in the June quarter, compared with Rs 788 crore for corporate and SME loans. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/JRG2IUf via IFTTT

The deadline for filing I-T returns by those taxpayers who do not have to get their accounts audited for the fiscal that ended on March 31, 2022 was Sunday. Till July 30, more than 5.1 crore tax returns were filed. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/xWuL1k6 via IFTTT

Like other small finance banks, currently, as much as 70 per cent of Ujjivan's assets are unsecured/without collaterals, and a vast majority of its customers are micro-loan borrowers. The remaining 30 per cent are under secured loan category. The management has set a target of having half the assets in the secured segment over the next three years. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/wjlBUvq via IFTTT

CEO Sanjiv Chadha said demand from sectors such as cement, steel and roads has been strong, together with demand for international loans from Indian companies abroad. "Since last year, when corporate margins were low we explored high-rated syndicated loans like external commercial borrowings from Indian companies abroad where margins were good and we have seen growth in that segment," he said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/wsOexKP via IFTTT

The bank reported an improvement in its asset quality parameters with gross NPAs falling to 3.36% in the June quarter versus 4.61% a year ago. The net NPA came to 1.30% Provisions for the quarter were at ₹308 crore against ₹1,872 crore in the period last year, a reduction of 84%. The credit cost was 0.9% from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/XwOWokS via IFTTT

"Post rights issue, the holding of the bank would come down below 30% but would be higher than 26% so that the bank retains promoter status," chief executive AK Goel said. The state-owned bank currently holds a 32% stake in the housing finance firm. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/NoSsDqd via IFTTT

The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs increased by 4 bps in May to 5.07 per cent and by 6 bps from in June 2022. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5aWIOPb via IFTTT

The Asset Liability Committee (ALCO) of the bank would be meeting on Saturday to take a call on raising the rate. Some banks have already raised the interest rate on FCNR(B) as the Reserve Bank of India (RBI) permitted banks to hike the rate for a limited period to encourage inflow of foreign funds. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/HxXTjRU via IFTTT

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​​Since the last few weeks, Carlyle’s top brass from Singapore along with Advent’s leadership have held a series of meetings this week with the senior management of Yes Bank and the State Bank of India (SBI), the largest shareholder of the private lender, as well as Reserve Bank of India (RBI) officials to fine-tune the contours of the plan, which will be undertaken in phases. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/7pQnZ48 via IFTTT

BOM announced a monsoon offer, waiving the full processing fee on its housing and car loans. Under 'Retail Bonanza-Monsoon Dhamaka' starting August 1, a slew of special offers for its retail customers is being launched amid the festive season. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/K78QLvh via IFTTT

In the long term you get the opportunity to invest in the fund through its ups and downs, which may give investors the benefit of rupee cost averaging. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1xacZhV via IFTTT

A combination of conventional asset classes (stocks/mutual funds/bonds/FDs, etc..) along with unconventional assets may be a prudent way to manage wealth even in the worst crisis. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/kRSyq0z via IFTTT

How to gauge a floating rate mutual fund by analysing its risks and returns from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Jy3mSY4 via IFTTT

“Keeping in view the disruption caused by the COVID-19 pandemic, and to ensure smooth functioning of the payments ecosystem, it has since been decided to allow another window to all such PAs (existing as on March 17, 2020) to apply to RBI,” the regulator said in a notification on Thursday. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/BH79aVh via IFTTT

In the fortnight ended July 16, 2021, advances stood at Rs 108.78 lakh crore and deposits at Rs 155.14 lakh crore, according to the Reserve Bank of India's (RBI) Scheduled Banks' Statement of Position in India as on July 15, 2022. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/P1rqbUa via IFTTT

“On a review of the issues involved and after detailed discussions with all stakeholders, as also keeping in view that sufficient time has elapsed since the requirements were specified, there shall be no change in the effective date of implementation of the requirements – all entities, except card issuers and card networks, shall purge the CoF data before October 1, 2022,” the regulator said in a notification on its website. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/7neO2JC via IFTTT

Customers of Lucknow Urban Co-operative Bank will not able to withdraw more than Rs 30,000, as per an RBI statement. The withdrawal limit in the case of Urban Co-operative Bank is Rs 50,000 per customer, it said in another statement. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/wz9RD4x via IFTTT

Deposit growth has floundered as high inflation has resulted in less savings, as would be depositors are choosing to put money into shares and mutual funds in search of better returns, said Madan Sabnavis, chief economist at state-owned lender Bank of Baroda. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/f7JaTXp via IFTTT

Fraser says financial markets would remain volatile over the next few months and that Quantitative Tightening (QT) would lead us to a very different world. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/XCymSbV via IFTTT

Frasers says country's intellectual capital, a growing market and the digital payments infrastructure could all combine to help unleash an economic growth rate that other nations can only dream of. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/zmytlhH via IFTTT

In a discussion paper on 'Climate Risk and Sustainable Finance', the Reserve Bank of India (RBI) said it intends to prepare a strategy based on the global best practices on mitigating the adverse impacts of climate change, learnings from participation in standard-setting bodies and other international fora. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/UWICzuJ via IFTTT

The Intergovernmental Panel on Climate Change (IPCC) Report of August 2021 highlighted the changes being observed in the Earth's climate in every region across the whole climate system. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9q7bQN2 via IFTTT

Lenders may need to incorporate an assessment of both physical and transition risks across a range of climate-related scenarios. They may identify and simulate plausible and relevant scenarios, factor in the inter-linkages between climate-related risk and other risks and explore resilience to financial losses under a variety of scenarios. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/aYxu7r6 via IFTTT

All about floater funds and guide to whether it makes sense to invest in it. Read to know more from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/hLGjY6a via IFTTT

By BY RON LIEBER from NYT Your Money https://ift.tt/LBjk4Tb via IFTTT

"In order to ensure that the loan policy reflects approved internal risk appetite and remains in alignment with the extant regulations, it is advised that the loan policy of the bank shall be reviewed by the Board at least once in a financial year" the RBI said in a notification on Tuesday. The above instructions will come into effect immediately, RBI said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/dZbOMt4 via IFTTT

​​In 2018-19, a total of 9,092 cases were reported amounting to Rs 26,720 crore, while in 2019-20, the number of frauds rose to 11,074, involving a monetary value of Rs 21,170 crore, Minister of State for Finance Bhagwad Karad said in a written reply to the Rajya Sabha. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/fcs5aL0 via IFTTT

According to RBI norms, balances in savings/current accounts that are not operated for 10 years, or term deposits not claimed within 10 years from the date of maturity, are classified as "unclaimed deposits". After this, banks transfer such money to the 'depositor education and awareness fund' maintained by the Reserve Bank of India (RBI). from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/VeZr8nN via IFTTT

Under the deal worth Rs 12,325 crore, announced on March 30, Axis Bank would take over Citi's credit cards, personal loans and wealth management businesses that are focused on the affluent segment. In a tweet on Tuesday, the regulator said it has cleared the "acquisition of Citibank, N.A.'s and Citicorp Finance (India) Limited's undertakings comprising of their consumer banking activities by Axis Bank". from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/eJC4YK6 via IFTTT

The bidders have raised concerns about potential investments in the bank being subject to CAG's scrutiny in the future. IDBI Bank also follows CVC guidelines for investigating internal complaints of suspected wrongdoing, which the bidders have raised as a concern. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/W1VYIJr via IFTTT

ARCION ARC’s bid is in partnership with Cerberus Capital, a strong contender for Yes Bank’s portfolio. JC Flowers ARC and Cerberus were the only two entities that submitted binding bids for Yes Bank Rs 48000 crore bad loans. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/AO8jRZ3 via IFTTT

Floater funds are open-ended schemes which allow for investment throughout the year, there is no lock-in period applicable, and the funds invested can be withdrawn at any time. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/z8ZDoVf via IFTTT

The subject has assumed importance because banks have never invoked a government guarantee in the past. Senior bank officials conveyed their reservations on the subject to the NARCL management at a meeting last week, the people cited above said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/I5EJPbw via IFTTT

​​Banks including State Bank of India and Axis Bank have doubled consolidated balance sheet size to $35 billion in the last two years since the unified regulator assumed formal status. Prime Minister Narendra Modi is likely to visit GIFT City this Friday after a gap of five years, launching a host of new initiatives. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/oDH0Jkx via IFTTT

​In view of their deteriorating financial positions, the RBI has imposed withdrawal restrictions, capping Saibaba Janata Sahakari Bank's withdrawals at Rs 20,000 and The Suri Friends' Union Co-operative Bank's at Rs 50,000. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Tuf6GA1 via IFTTT

Defending the state-run banks' performance, she said one has to look at different parameters like financial inclusion and connecting up with the masses while assessing a lender's performance and not from investors' favourites like cost to income ratio. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/CPrnvjB via IFTTT

Carlyle's top brass from Hong Kong along with Advent's leadership have held a series of meetings this week with the senior management of Yes Bank and the State Bank of India (SBI), the largest shareholder of the private lender, as well as Reserve Bank of India (RBI) officials to fine-tune the contours of the plan, which will be undertaken in phases. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/8109SgO via IFTTT

Russia’s largest bank allegedly paid a bonus to its Indian CEO Ivan Nosov for performance year 2021 without the RBI’s approval, people familiar with the matter told ET. The foreign lender had also reportedly done so in 2019 and 2020. Banking rules in India require a lender to seek the RBI's approval on bonus payments to key executives. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/aerodA0 via IFTTT

The small and midsize enterprise sector and low-income households are vulnerable to rising interest rates and high inflation, but it expects these risks to be limited, the agency added. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/WHTow2I via IFTTT

"Conservatively, we expect India corporate banking business revenue to grow at around 10% (a year) in dollar terms in (the) next three-four years, which translates to 16-17% in rupee terms considering the depreciation," K Balasubramanian, head of corporate banking, South Asia, told Reuters on Thursday, noting Citi has been ramping up hiring. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/cxsi9R7 via IFTTT

All you need to know about floater funds and their benefits from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/HZlPcIQ via IFTTT

Furthermore, the cardholder may also receive a complimentary stay voucher worth ₹5,000 at “The Postcard Hotel” across India, Sri Lanka, and Bhutan. It also offers two complimentary domestic lounge visits per quarter at airports across India. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/HoOsI7m via IFTTT

Borrowers inquiring about personal loans increased by 141 percent for the three month period ending May 2022 compared to 93 percent growth in inquiries for the three month period ended March' 2022, according to data released by credit bureau Transunion Cibil. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/T0VshKi via IFTTT

The tax-paying citizens in India, NRIs and domestic customers can generate a tax challan and make the payment through their bank branches. To make payments easy and avoid delays at first there is no requirement for PAN/TAN registration or verification for taxpayers, the statement said. Federal Bank country head (wholesale banking) Harsh Dugar said: "These are among a slew of digital initiatives, being invested into by the bank, to delight our clients with ease of transaction and bring agility to our business from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/RmEoZip via IFTTT

To protect your legacy, you should be aware of estate planning from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/LnYGXrB via IFTTT

A well-known name in the industry, both on the advisory and client side, Sharma is an expert in investment banking (debt & private equity transactions), new/stressed project acquisitions, land sales, joint development/venture transactions and business consulting assignments across all segments of real estate. Sharma joins from Tribeca Developers, where he headed their business development operations. Prior to this, he held seniorpositions atother international property consulting firms in India. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/4Ppn9Q7 via IFTTT

Reliance Capital's administrator Nageshwara Rao Y has given potential applicants a choice to either bid for the entire company or submit plans for individual subsidiaries. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/AsP2UFZ via IFTTT

Reliance Capital's administrator Nageshwara Rao Y has given potential applicants a choice to either bid for the entire company or submit plans for individual subsidiaries. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/AsP2UFZ via IFTTT

Comprehensive steps have been taken to tackle banking frauds, including an online searchable database of frauds reported by banks in the form of Central Fraud Registry to enable timely identification, control and mitigation of fraud risk and also to carry out due diligence during the credit sanction process, Minister of State for Finance Bhagwat Karad said in a written reply. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/sTwqduf via IFTTT