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EXCLUSIVE: DHS deploys special federal unit to protect monuments over July 4 weekend amid vandalism fears
06/30/20 4:09 PM
Tuesday, June 30, 2020
Fox News Breaking News Alert
Fox News Breaking News Alert
Mississippi governor signs bill retiring last state flag with Confederate battle emblem
06/30/20 3:24 PM
Mississippi governor signs bill retiring last state flag with Confederate battle emblem
06/30/20 3:24 PM
Government extends Union Bank of India CEO Rajkiran Rai's term by another two years
In a notification, SR Mehar,deputy secretary in the department of financial services in the Ministry of Finance, said Rai's term which was ending on Tuesday has been now extended until May 31 2022.source https://economictimes.indiatimes.com/industry/banking/finance/banking/government-extends-union-bank-of-india-ceo-rajkiran-rais-term-by-another-two-years/articleshow/76715846.cms
BANKING
Loan growth to all major sectors contracted during April-May, RBI data shows. Loans to industry contracted 1.5 per cent compared to 2.5 per cent dip last year. Loans to services contracted 2 per cent compared to a dip of 5.3 per cent last year. These two sectors account for about 60 per cent of the banking sector's loan portfolio.from Banking/Finance-Industry-Economic Times https://ift.tt/38eYBOG
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April-May bank loan contraction lesser than last year's
Loan growth to all major sectors contracted during April-May, RBI data shows. Loans to industry contracted 1.5 per cent compared to 2.5 per cent dip last year. Loans to services contracted 2 per cent compared to a dip of 5.3 per cent last year. These two sectors account for about 60 per cent of the banking sector's loan portfolio.source https://economictimes.indiatimes.com/industry/banking/finance/banking/april-may-bank-loan-contraction-lesser-than-last-years/articleshow/76715341.cms
Fox News Breaking News Alert
Fox News Breaking News Alert
Supreme Court strikes down ban on taxpayer funding for religious schools, in win for school choice movement
06/30/20 7:37 AM
Supreme Court strikes down ban on taxpayer funding for religious schools, in win for school choice movement
06/30/20 7:37 AM
Loan recasts to only defer problem, NPAs may zoom up to 14pc due to COVID-19: S&P
The coronavirus pandemic has led to prolonged lockdowns and a chilling of economic activity, forcing the RBI to declare a six-month voluntary moratorium on loan repayments till September.source https://economictimes.indiatimes.com/industry/banking/finance/banking/loan-recasts-to-only-defer-problem-npas-may-zoom-up-to-14pc-due-to-covid-19-sp/articleshow/76711314.cms
Fox News Breaking News Alert
Fox News Breaking News Alert
China passes controversial Hong Kong security law: report
06/29/20 11:49 PM
China passes controversial Hong Kong security law: report
06/29/20 11:49 PM
Monday, June 29, 2020
BANKING
UPI, operated by the National Payments Corp of India (NPCI), processed 1.42 billion transactions worth ₹2.31 lakh crore until June 28, the most recorded by the channel in a month, Reserve Bank of India (RBI) data showed.from Banking/Finance-Industry-Economic Times https://ift.tt/31vjbsW
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SBI urges UK Home Secretary to reject Vijay Mallya’s asylum plea
The missive is being seen as part of a collective effort by Indian banks, investigative agencies and other entities to put pressure on the UK government to hasten Mallya’s return to India.source https://economictimes.indiatimes.com/industry/banking/finance/banking/sbi-urges-uk-home-secretary-to-reject-mallyas-asylum-plea/articleshow/76700710.cms
Digital payments bounce back to pre-Covid levels
UPI, operated by the National Payments Corp of India (NPCI), processed 1.42 billion transactions worth ₹2.31 lakh crore until June 28, the most recorded by the channel in a month, Reserve Bank of India (RBI) data showed.source https://economictimes.indiatimes.com/industry/banking/finance/banking/digital-payments-bounce-back-to-pre-covid-levels/articleshow/76700360.cms
RBI needs to revisit policy restricting big corporates from promoting banks: R Gandhi
He said the needs and aspirations of the Indian economy make it necessary to look at sources of large capital from entering the banking fray, so that large projects can be supported and also pitched for a renewed thrust to be given to the wholesale banks model.source https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-needs-to-revisit-policy-restricting-big-corporates-from-promoting-banks-r-gandhi/articleshow/76693106.cms
BANKING
He said the needs and aspirations of the Indian economy make it necessary to look at sources of large capital from entering the banking fray, so that large projects can be supported and also pitched for a renewed thrust to be given to the wholesale banks model.from Banking/Finance-Industry-Economic Times https://ift.tt/2Vt2cDS
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Yes Bank to auction properties of Essel Infra, SKIL Infra in July to recover dues
The private bank on July 8 will auction properties owned by Essel Infraprojects in Mumbai. It has also put under the hammer properties owned by another group firm Rama Associates. It selling properties to recover dues of Rs 556.53 crore, according to a public notice by Yes Bank.source https://economictimes.indiatimes.com/industry/banking/finance/banking/yes-bank-to-auction-properties-of-essel-infra-skil-infra-in-july-to-recover-dues/articleshow/76690703.cms
BANKING
The private bank on July 8 will auction properties owned by Essel Infraprojects in Mumbai. It has also put under the hammer properties owned by another group firm Rama Associates. It selling properties to recover dues of Rs 556.53 crore, according to a public notice by Yes Bank.from Banking/Finance-Industry-Economic Times https://ift.tt/3g6sHqv
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BANKING
The markets shed over a fifth of their value in the early days of the COVID-19 pandemic and have recouped some of the losses in the last few weeks. Interestingly, the gains happened even as the chorus of a contraction in GDP started among the analysts, wherein some expect a negative growth of up to 5 per cent in 2020-21.from Banking/Finance-Industry-Economic Times https://ift.tt/387BeH0
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COVID-19: SBI economists pitch for 2nd round of financial package for impacted sectors
The markets shed over a fifth of their value in the early days of the COVID-19 pandemic and have recouped some of the losses in the last few weeks. Interestingly, the gains happened even as the chorus of a contraction in GDP started among the analysts, wherein some expect a negative growth of up to 5 per cent in 2020-21.source https://economictimes.indiatimes.com/industry/banking/finance/banking/covid-19-sbi-economists-pitch-for-2nd-round-of-financial-package-for-impacted-sectors/articleshow/76686780.cms
Sunday, June 28, 2020
Fox News Breaking News Alert
Fox News Breaking News Alert
Worldwide coronavirus deaths surpass 500,000 mark, Johns Hopkins University research shows
06/28/20 2:23 PM
Worldwide coronavirus deaths surpass 500,000 mark, Johns Hopkins University research shows
06/28/20 2:23 PM
Fox News Breaking News Alert
Fox News Breaking News Alert
California governor orders bars closed in counties including Los Angeles, citing coronavirus
06/28/20 12:33 PM
California governor orders bars closed in counties including Los Angeles, citing coronavirus
06/28/20 12:33 PM
BANKING
The central bank and state governments may often end up in courts over the powers of the RBI in overruling the managements of the lenders if the veto power vested with the regulator through the amendments to the Act clashes with the interests of local politicians who mostly control co-operative banks, analysts said.from Banking/Finance-Industry-Economic Times https://ift.tt/3g30dxO
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Bringing co-operative banks under RBI could create challenges for state governments
The central bank and state governments may often end up in courts over the powers of the RBI in overruling the managements of the lenders if the veto power vested with the regulator through the amendments to the Act clashes with the interests of local politicians who mostly control co-operative banks, analysts said.source https://economictimes.indiatimes.com/industry/banking/finance/banking/bringing-co-operative-banks-under-rbi-could-create-challenges-for-state-governments/articleshow/76675463.cms
Fox News Breaking News Alert
Fox News Breaking News Alert
Global coronavirus infections pass 10M mark, data show
06/28/20 3:09 AM
Global coronavirus infections pass 10M mark, data show
06/28/20 3:09 AM
BANKING
"We have a lot of real estate assets because of the merger. We are planning to sell some of them. We are planning to sell a good amount of these assets by the end of the third quarter provided the market is available. We will be not selling at a discounted price," he said.from Banking/Finance-Industry-Economic Times https://ift.tt/3dztn68
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No plans to sell non-core assets during this fiscal: PNB Chief
"We have a lot of real estate assets because of the merger. We are planning to sell some of them. We are planning to sell a good amount of these assets by the end of the third quarter provided the market is available. We will be not selling at a discounted price," he said.source https://economictimes.indiatimes.com/industry/banking/finance/banking/no-plans-to-sell-non-core-assets-during-this-fiscal-pnb-chief/articleshow/76672748.cms
Bankers in India are more productive working from home
Work from home may remain part of the norm for many in India’s financial industry beyond the end of the world’s biggest lockdown. The reason: elimination of lengthy commutes in the past three months has boosted employee productivity.source https://economictimes.indiatimes.com/industry/banking/finance/banking/bankers-in-india-are-more-productive-working-from-home/articleshow/76670551.cms
Saturday, June 27, 2020
BANKING
Work from home may remain part of the norm for many in India’s financial industry beyond the end of the world’s biggest lockdown. The reason: elimination of lengthy commutes in the past three months has boosted employee productivity.from Banking/Finance-Industry-Economic Times https://ift.tt/3eSCEI5
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Airtel Payments Bank CEO says revenue up 87% in FY20; sees headroom for growth
Airtel Payments Bank's revenues rose 87% to Rs 474 crore during FY20, driven by surge in digital payments, money transfer and offtake of new services, according to its MD and CEO Anubrata Biswas.source https://economictimes.indiatimes.com/industry/banking/finance/banking/airtel-payments-bank-ceo-says-revenue-up-87-in-fy20-sees-headroom-for-growth/articleshow/76670207.cms
Fox News Breaking News Alert
Fox News Breaking News Alert
Pence postpones Florida, Arizona campaign events amid increase in coronavirus cases
06/27/20 1:06 PM
Pence postpones Florida, Arizona campaign events amid increase in coronavirus cases
06/27/20 1:06 PM
BANKING
The sum insurances for COVID Standard Health Policy could range from Rs 50,000 to Rs 5 lakhs (in multiples of Rs 50,000). The nomenclature of the product should be 'Corona Kavach Policy', succeeded by name of insurance company, the regulator said.from Banking/Finance-Industry-Economic Times https://ift.tt/2BfJybD
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Irdai asks insurers to offer corona standard policy by July 10
The sum insurances for COVID Standard Health Policy could range from Rs 50,000 to Rs 5 lakhs (in multiples of Rs 50,000). The nomenclature of the product should be 'Corona Kavach Policy', succeeded by name of insurance company, the regulator said.source https://economictimes.indiatimes.com/industry/banking/finance/insure/irdai-asks-insurers-to-offer-corona-standard-policy-by-july-10/articleshow/76665200.cms
BANKING
"This is one of the things that MSME Minister Nitin Gadkari once mentioned about Bharat Craft where SBI will develop this platform. We are very much dwelling on the subject. It requires a lot of elements to be put together. It is definitely on our radar and we are going to do it," Kumar said.from Banking/Finance-Industry-Economic Times https://ift.tt/2Vn1Crh
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SBI working on setting up e-commerce portal for MSMEs: Rajnish Kumar
"This is one of the things that MSME Minister Nitin Gadkari once mentioned about Bharat Craft where SBI will develop this platform. We are very much dwelling on the subject. It requires a lot of elements to be put together. It is definitely on our radar and we are going to do it," Kumar said.source https://economictimes.indiatimes.com/industry/banking/finance/banking/sbi-working-on-setting-up-e-commerce-portal-for-msmes-rajnish-kumar/articleshow/76663992.cms
COVID-19 disruption an opportunity for firms to re-strategise: UBI chief
The Union Bank chief also said small and medium enterprises (SMEs) have real opportunities to plug into the global supply chain as more companies seek to diversify sourcing inputs.source https://economictimes.indiatimes.com/industry/banking/finance/banking/covid-19-disruption-an-opportunity-for-firms-to-re-strategise-ubi-chief/articleshow/76657494.cms
Friday, June 26, 2020
President promulgates ordinance to bring co-operative banks under RBI supervision
The Ordinance amends the Banking Regulation Act, 1949 as applicable to cooperative banks, an official statement said on Saturday. The amendments do not affect existing powers of the State Registrars of Co-operative Societies under state co-operative laws, it added.source https://economictimes.indiatimes.com/industry/banking/finance/banking/president-promulgates-ordinance-to-bring-co-operative-banks-under-rbi-supervision/articleshow/76656891.cms
BANKING
The Ordinance amends the Banking Regulation Act, 1949 as applicable to cooperative banks, an official statement said on Saturday. The amendments do not affect existing powers of the State Registrars of Co-operative Societies under state co-operative laws, it added.from Banking/Finance-Industry-Economic Times https://ift.tt/387s1i0
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Fox News Breaking News Alert
Fox News Breaking News Alert
Trump signs executive order to protect American monuments, memorials and statues
06/26/20 3:34 PM
Trump signs executive order to protect American monuments, memorials and statues
06/26/20 3:34 PM
Fox News Breaking News Alert
Fox News Breaking News Alert
House approves DC statehood bill, GOP calls move Dem 'power grab'
06/26/20 12:12 PM
House approves DC statehood bill, GOP calls move Dem 'power grab'
06/26/20 12:12 PM
Banks go for stress test to assess impact of Covid-19 on NPAs
Banks have undertaken stress tests to assess the level of bad loans or non-performing assets (NPAs) caused due to economic slowdown triggered by the outbreak of COVID-19, sources said.source https://economictimes.indiatimes.com/industry/banking/finance/banking/banks-go-for-stress-test-to-assess-impact-of-covid-19-on-npas/articleshow/76643979.cms
HC queries Centre, RBI on different treatment to PMC Bank depositors vis-a-vis Yes Bank
The court noted that as per a March notification issued by the Centre, the RBI as well as the central government had a crucial role to play in the decision taken to permit, firstly, the Yes Bank Limited Reconstruction Scheme 2020 being brought into play and, secondly, to have it funded.source https://economictimes.indiatimes.com/industry/banking/finance/banking/hc-queries-centre-rbi-on-different-treatment-to-pmc-bank-depositors-vis-a-vis-yes-bank/articleshow/76643448.cms
BANKING
The court noted that as per a March notification issued by the Centre, the RBI as well as the central government had a crucial role to play in the decision taken to permit, firstly, the Yes Bank Limited Reconstruction Scheme 2020 being brought into play and, secondly, to have it funded.from Banking/Finance-Industry-Economic Times https://ift.tt/2Zbkri7
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Thursday, June 25, 2020
Fox News Breaking News Alert
Fox News Breaking News Alert
PROGRAMMING ALERT: Sean Hannity's town hall with President Trump, 9 pm ET on Fox News
06/25/20 5:51 PM
PROGRAMMING ALERT: Sean Hannity's town hall with President Trump, 9 pm ET on Fox News
06/25/20 5:51 PM
BANKING
Villagers, especially those living in the remote rural areas were greatly encumbered to draw cash from the beginning of the lockdown for daily use as there was scarce or no access to banks or ATMs, the company elaborated while addressing the media.from Banking/Finance-Industry-Economic Times https://ift.tt/2Z53MwC
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Dvara KGFS announces transactions worth Rs 7 crore through Aadhaar-enabled payment system
Villagers, especially those living in the remote rural areas were greatly encumbered to draw cash from the beginning of the lockdown for daily use as there was scarce or no access to banks or ATMs, the company elaborated while addressing the media.source https://economictimes.indiatimes.com/industry/banking/finance/dvara-kgfs-announces-transactions-worth-rs-7-crore-through-aadhaar-enabled-payment-system/articleshow/76633625.cms
Fox News Breaking News Alert
Fox News Breaking News Alert
Supreme Court hands Trump administration win on deportation powers
06/25/20 8:07 AM
Supreme Court hands Trump administration win on deportation powers
06/25/20 8:07 AM
Wednesday, June 24, 2020
Fox News Breaking News Alert
Fox News Breaking News Alert
BET founder mocks crowds tearing down statues, calls them 'borderline anarchists'
06/24/20 2:52 PM
BET founder mocks crowds tearing down statues, calls them 'borderline anarchists'
06/24/20 2:52 PM
Fox News Breaking News Alert
Fox News Breaking News Alert
3 men indicted on murder charges in killing of Ahmaud Arbery in Georgia, prosecutor announces
06/24/20 12:55 PM
3 men indicted on murder charges in killing of Ahmaud Arbery in Georgia, prosecutor announces
06/24/20 12:55 PM
Indiabulls Group's employees personal details leaked on the dark web: Cyble
Personal details of Indiabulls Group employees were leaked on the dark web on Wednesday by ransomware attackers, according to US-based cyber security firm Cyble.source https://economictimes.indiatimes.com/industry/banking/finance/banking/indiabulls-groups-employees-personal-details-leaked-on-the-dark-web-cyble/articleshow/76583048.cms
Google Pay says it works with banks to allow payments via UPI, transactions fully protected
Earlier this month, the Reserve Bank of India (RBI) had told the Delhi High Court that Google Pay is a third party app provider and does not operate any payment systems. Therefore, its operations are not in violation of the Payment and Settlement System Act of 2007, RBI had told a bench of Chief Justice D N Patel and Justice Prateek Jalan.source https://economictimes.indiatimes.com/industry/banking/finance/banking/google-pay-says-it-works-with-banks-to-allow-payments-via-upi-transactions-fully-protected/articleshow/76582682.cms
BANKING
Earlier this month, the Reserve Bank of India (RBI) had told the Delhi High Court that Google Pay is a third party app provider and does not operate any payment systems. Therefore, its operations are not in violation of the Payment and Settlement System Act of 2007, RBI had told a bench of Chief Justice D N Patel and Justice Prateek Jalan.from Banking/Finance-Industry-Economic Times https://ift.tt/3fTaJYn
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Fox News Breaking News Alert
Fox News Breaking News Alert
Senate Democrats block GOP-authored police reform bill
06/24/20 10:07 AM
Senate Democrats block GOP-authored police reform bill
06/24/20 10:07 AM
NBFC-MFIs to begin fresh lending only after expiry of moratorium
The total estimated collective disbursements by NBFC-MFIs up to September could merely be Rs 2,884 crore, Microfinance Institutions Network (MFIN) said in a report. This is significantly less than the average disbursements of around Rs 6,600 crore per month seen in FY20.source https://economictimes.indiatimes.com/industry/banking/finance/banking/nbfc-mfis-to-begin-fresh-lending-only-after-expiry-of-moratorium/articleshow/76562638.cms
RBI asks banks, NBFCs to disclose digital lending agents upfront
To make digital lending more transparent, the Reserve Bank on Wednesday directed banks, NBFCs and digital lending platforms to disclose full information upfront on their websites to customers.source https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-asks-banks-nbfcs-to-disclose-digital-lending-agents-upfront/articleshow/76562193.cms
BANKING
The total estimated collective disbursements by NBFC-MFIs up to September could merely be Rs 2,884 crore, Microfinance Institutions Network (MFIN) said in a report. This is significantly less than the average disbursements of around Rs 6,600 crore per month seen in FY20.from Banking/Finance-Industry-Economic Times https://ift.tt/2YrvuEO
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Cooperative banks to be brought under RBI supervision
Urban cooperative banks and multi-state cooperative banks will be brought under the RBI supervision process applicable to commercial banks, Information and Broadcasting Minister Prakash Javadekar said while briefing media about the Cabinet decisions.source https://economictimes.indiatimes.com/industry/banking/finance/banking/cooperative-banks-to-be-brought-under-rbi-supervision/articleshow/76554428.cms
BANKING
Urban cooperative banks and multi-state cooperative banks will be brought under the RBI supervision process applicable to commercial banks, Information and Broadcasting Minister Prakash Javadekar said while briefing media about the Cabinet decisions.from Banking/Finance-Industry-Economic Times https://ift.tt/3dy2LCq
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BANKING
Gold loans are a quick way for people to access cash when other avenues are not open," said CVR Rajendran, CEO at CSB Bank. Gold loans also are less risky for lenders as rising gold prices means the loan to value ratio is always kept in check.from Banking/Finance-Industry-Economic Times https://ift.tt/31724gW
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Lenders prepare for rise in gold loan demand in FY21
Gold loans are a quick way for people to access cash when other avenues are not open," said CVR Rajendran, CEO at CSB Bank. Gold loans also are less risky for lenders as rising gold prices means the loan to value ratio is always kept in check.source https://economictimes.indiatimes.com/industry/banking/finance/banking/lenders-prepare-for-rise-in-gold-loan-demand-in-fy21/articleshow/76554160.cms
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