All Banking & Crypto Related Details

In November, the RBI cautioned the public against co-operative societies using 'bank' in their names as well as accepting deposits from people who are not their members. The RBI had said in a statement that it has come to notice that some cooperative societies are using the word 'bank' in their names in violation of the Banking Regulation Act. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3m5tTQl via IFTTT

Its deputy managing director (designate) Rajiv Anand also made it clear that there are no conversations around a deal with Spandana Sphoorty at present, denying reports of the third-largest lender being interested to buy the microlender. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3EZkgKr via IFTTT

Early this month, Ares SSG Capital-backed asset reconstruction company, Assets Care and Reconstruction Enterprise (ACRE) acquired Federal Bank’s debt, as reported by ET. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3dMBnTO via IFTTT

The career SBI executive highlighted some positive trends in the corporate loan segment. "Working capital utilisations have come up to around 70%. We have also approved new loan proposals worth Rs 1 lakh crore plus in the project finance segment," he said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3m4SKUi via IFTTT

Lenders have argued that restructuring of accounts is still underway and, therefore, borrowers may not be able to meet the financial threshold prescribed by even the extended October 2022 deadline. If borrowers miss the deadline, the accounts will turn into bad loans which lenders want to avoid. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3DWeI1U via IFTTT

Bank unions under the United Forum of Bank Unions (UFBU) umbrella have called a strike on Dec 16 and 17 against the proposed public sector bank privatisation. In the Budget 2021-22, the government had announced its intent to take up the privatisation of two public sector banks (PSBs). from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3IO6EnN via IFTTT

The acquisition will be completed by the end of December, Satin said in a regulatory filing to stock exchanges. The size of the deal has not been disclosed. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3ETTXoQ via IFTTT