All Banking & Crypto Related Details

Earlier, the Industry segment had a contribution of 27 per cent in bank credit, which was nearly equal to services and personal loans. The decline can be attributed to increased borrowings by manufacturing firms as the industry recorded a lower than expected rate in comparison to the bank credit.​​ from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/AvNUGrB via IFTTT

Another banker said there have been reports that some beneficiaries under various government schemes take instant loans from local moneylenders and, in turn, hand over their account details, including passbooks and ATM cards, as guarantees. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3PkvqEQ via IFTTT

TMB is one of the oldest private sector banks with a history of over 100 years, having been established in 1921 as Nadar Bank. The bank offers a wide range of services primarily to micro, small and medium enterprises, agricultural and retail customers. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3YsKN8S via IFTTT

Systematic Investment Plan, abbreviated as SIP, is an easy and hassle free way to invest in mutual funds these days. The term SIP has become so synonymous with mutual fund investments these days that a lot of investors feel SIP and mutual funds are the same. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/kKSMaB6 via IFTTT

According to the Insolvency and Bankruptcy Board of India (IBBI), 23,417 applications for initiation of the Corporate Insolvency Resolution Process (CIRP), having underlying default of ₹7.31 lakh crore, were resolved even before their admission, as on September 31. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/mMpjKth via IFTTT

Gen Z borrowers monitoring their credit grew by 2.9 times in between October 2021 and September 2022, compared to overall growth of 1.8 times of the entire self-monitoring base. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/TLuzp93 via IFTTT

The rating agency said that distress among retail borrowers since the outbreak of COVID-19 pandemic has led to an increase in the non-performing loans (NPLs) within the banking sector, which has led to an increase in the retail NPL portfolios of ARCs. The composition of asset class in the retail security receipts (SRs) issued by asset reconstruction companies (ARCs) has changed with unsecured personal and vehicles loans dominating the issuances in 2022 from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/qEDfx1J via IFTTT

Gold loan is a high-yielding business with several banks and non-banks charging interest rates upwards of 10-15%. For banks, this is increasingly becoming a lucrative segment as cost of funds is around 7% and returns are higher. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ZbxteqF via IFTTT

In a release, the RBI said the bank had failed to comply with its directions on 'Discounting of Bills by UCBs - Restricted Letters of Credit (LC)' and the provisions of the Rules, as it discounted accommodation bills under LCs without establishing the genuineness of underlying transactions/ documents and failed to preserve records in good order for a period of eight years. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/2NEqrnJ via IFTTT

"​Aggregate deposits growth (y-o-y), which remained in the close range of 9.5-10.2 per cent since June 2021, stood at 9.8 per cent in September 2022; since December 2020, bank branches in metropolitan centres have been recording higher annual growth than those in rural, semi-urban and urban areas," stated the press release. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/AInsTP9 via IFTTT

Tax planning is as essential as financial planning. Those looking to save tax by investing in Long Term Equity Fund, they can consider starting a monthly SIP in this tax saver fund. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/COapRor via IFTTT

A guide on focused funds, its features and its benefits from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/asSgrct via IFTTT

Large-cap equity mutual fund schemes can be considered by those who are looking to earn stable returns with minimum investment risk from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/aGFkt7M via IFTTT

In October, the government had invited expressions of interest (EoI) for a stake sale, along with the transfer of management control in IDBI Bank. The government, along with the Life Insurance Corporation (LIC), will sell 60.72% stake in the lender. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9sBvlmD via IFTTT

The government and LIC together hold 94.72 per cent stake in IDBI Bank. The successful bidder would be required to make an open offer for acquisition of 5.28 per cent public shareholding. Pursuant to the transaction, the government will own 15 per cent stake and LIC 19 per cent shareholding in IDBI Bank, taking their total holding to 34 per cent. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/vf1nwt2 via IFTTT

"In the recent quarterly results, the bank's profits are the highest ever. SBI crossed the highest ever profits recorded by any corporate and analysts and broking houses are praising this," Khara said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/P6u1slS via IFTTT

A Systematic Investment Plan is an investment tool where ESG investors can invest small fixed amounts at regular intervals over the course of a stipulated time period. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/gpt4Mun via IFTTT

“On cost of funds the level of impact depends on the extent to which the borrowings are replaced by term deposits,” said Pranav Gundlapalle, senior research analyst, Bernstein. The cost of the liabilities used to replace HDFC Limited's borrowings — would drive a slightly lower cost of borrowings versus while replacing borrowings with term deposits will further lower the cost of funds. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Nb8ncIa via IFTTT

By BY ANN CARRNS from NYT Your Money https://ift.tt/e6AqfSF via IFTTT

Financial independence is having enough savings, investments, and funds to be able to afford the life you want without any worry. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/bFKgOvw via IFTTT

Bharucha is a career banker with more than 35 years of experience and has been associated with the bank since 1995. In his current position as executive director, he is responsible for wholesale banking covering areas of corporate banking, PSUs, capital & commodities markets, financial institutions, custody, mutual funds, global capability centre & financial sponsors coverage, and banks coverage. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/lZgnkYU via IFTTT

Top bankers say that cash withdrawal from ATMs slowed down in major cities, as payments through UPI (united payments interface) have clearly taken over. However, ATMs are still very relevant for cash customers in India, especially in the tier-2 to tier-6 towns. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/CZtiOAg via IFTTT

With this Canra Bank now offers an API based digital workflow of Bank guarantees which will eliminate physical issuance, stamping, verification and paper-based record maintenance of Bank Guarantees paving the way to augment integration of Environmental and Social Governance (ESG) framework into Business. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/veXq7ig via IFTTT

We all have several dreams and goals we wish to fulfil in our lives. Our financial decisions should be based on how and when we aim to achieve these goals. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/a452TcD via IFTTT

After announcing results for the June-September quarter earlier this month, the bank said it expects credit growth of 14%-16% for the current financial year as it steps up efforts to attract deposits. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/KPvekxD via IFTTT

The boards of individual banks can decide on waiving the penalty on accounts, which do not maintain a minimum balance, Union Minister of State for Finance Bhagwant Kishanrao Karad on Wednesday said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/vVurGgK via IFTTT

We hear about kids these days who come as brilliant examples of what we could have achieved at that age if we knew the idea of growing money! We sometimes even regret not having enough financial knowledge. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/vaBdzlV via IFTTT

Loan against Deposits is a loan in foreign currency against a deposit in India (including Rupee NRE FDs). The customers can avail LAD for their short-term cash requirement without having to prematurely close their term Deposits and thereby avoid paying a penalty for breaking the deposit. They can avail loans up to 95% of their deposit value. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/xvmsF0u via IFTTT

This crisis was more to do with their ability to mop up lendable funds as banks shunned them on one side and the RBI kept on tightening the regulatory noose around them, finally bringing them on par with banks when it comes to bad loan recognition since November 2021. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Vn9yfAC via IFTTT

The authentication is processed using a new app from the Unique Identification Authority of India (UIDAI). As a result, the business correspondents at the banking points will only need a smartphone to open a bank account for customers. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/dap6uif via IFTTT

NARCL's offer has an 15:85 structure - 15% of the consideration will be upfront cash while the balance will be in security receipts (SRs) payable over five years. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/0ltnmrM via IFTTT

"Hiding behind lack of data is not an excuse. There is no reason why the Indian financial system cannot collaborate together on climate risk and measuring financed emissions," Parekh said Monday. Addressing the 21st World Congress of Accountants held in Mumbai, the veteran finance professional said that it would be easier and more economical to collaborate together on sustainability initiatives from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/J1vnYdc via IFTTT

The Reserve Bank of India (RBI) on Monday allowed HDFC Bank Ltd and Canara Bank Ltd to open a special "vostro account" for trade in Rupees with Russia, according to media reports. Vostro accounts are accounts a bank holds on behalf of another, often foreign bank, and this forms a key part of correspondent banking. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/EWZAUBu via IFTTT

Private investment in India was constrained for years by heavy indebtedness of companies and banks and by weak demand. But over the past two years, corporations and lenders have cut costs and raised equity capital, and companies have been able to spend on new capacity as demand has strengthened. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/2HALJvS via IFTTT

For the next two years, there should be more upside. Indeed, for most of the key credit measures one looks at for banks, things are on the up -- credit losses have normalised; NPAs are on the decline; higher interest rates are boosting net interest margins; and returns on average assets are recovering toward pre-pandemic levels. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/cZxQOIq via IFTTT

NPCI in November 2022 had proposed a 30 per cent volume cap for third-party app providers (TPAP) in a bid to avoid concentration risk. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/OpELXj6 via IFTTT

All major banks have increased their external benchmark-based lending rates (EBLRs) by 190 basis points in tandem with the hike in the Reserve Bank's policy repo rate since May this year, though they have been slow in raising the deposit rates. The Reserve Bank has hiked the key short-term lending rate (repo) by 190 basis points in four tranches since May to contain inflation. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/VoOCw3H via IFTTT

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

Data from the Reserve Bank of India (RBI) showed that the investments to deposits ratio is now closer to 29% compared with a recent peak of 30% recorded in August indicating that banks have started shifting their deposits to higher yielding loans as credit demand picks up. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/P8SF7Hy via IFTTT

By BY ANN CARRNS from NYT Your Money https://ift.tt/QKMq4Wy via IFTTT

The amendment would be called Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2022, it added. The central government has the right to terminate the term of office of a whole-time director, including the managing director, any time before the expiry of the term specified, by giving him a notice of not less than three months, in writing or three months' salary and allowances in lieu of notice. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/IZMmf6G via IFTTT

Soaring inflation levels this year along with interest hike rates by central banks has a multidimensional impact on incomes for professionals from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Ia36Dy5 via IFTTT

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

Chaudhry said such concentration is leading to pressure on the banking system to invest in technology in order to take care of the macro requirements. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/JATsuGx via IFTTT

In its Global Banking Outlook-2023 report, S&P said economic recovery is driving credit costs to cyclical low levels and stronger balance sheets and higher demand should boost bank loan growth, but deposit growth will lag. S&P expects loan growth to stay somewhat in line with the trajectory of nominal GDP, and loan growth to the retail sector to continue to exceed that of the corporate sector, the agency added. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/MPU6yj7 via IFTTT

Operations of public sector banks (PSBs) may be impacted as bank union AIBEA has given a strike call for Saturday to oppose incessant outsourcing of jobs. Although the officers are not part of the strike, there may be some impact on cash deposit and withdrawal, clearing of cheques etc. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/T97IfXw via IFTTT

This was conveyed at a meeting between senior officials of the MNC banks and RBI deputy governor T. Rabi Sankar on November 11, multiple sources told ET. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3losYmd via IFTTT

Reserve Bank of India Governor Shaktikanta Das also acknowledged the crucial role played by the commercial banks in supporting the economic growth throughout the turbulent times since the outbreak of pandemic and the ongoing financial market turmoil. The governor also said that the Indian banking sector has remained resilient and continued to improve in various performance parameters. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/gZSTsjd via IFTTT

Demand for corporate loans is being driven by improved capacity utilisation, higher working capital and to a small extent, by a shift in demand from bond markets to bank loans, SBI Managing Director Swaminathan Janakiraman said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/MuXkqhL via IFTTT

The agency has booked the company and its Directors - Sadhna Kothari and Rahul Kothari - under IPC sections related to criminal conspiracy (120-B) and cheating (420), besides various provisions of the Prevention of Corruption Act. The company is already facing multiple investigations by the CBI and the Enforcement Directorate on the basis of complaints from consortium members. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/XKO4Bf1 via IFTTT