The rate cut would be effective from November 1, 2020. With the cut in the external benchmark repo linked rate, all retail loans of the bank would get automatically adjusted.
Jio Payments Bank was required to submit an application under Section 35B of the Act in the case of reappointment of MD & CEO of the bank four months prior to the date on which the term of the current position holders was to expire as per RBI guidelines.Jio Payments Bank was required to submit an application under Section 35B of the Act in the case of reappointment of MD & CEO of the bank four months prior to the date on which the term of the current position holders was to expire as per RBI guidelines.
The bank's total slippages at just 19 basis points of its loan book or Rs 400 crore were made up by the Rs 495 of recoveries and upgrades the bank had in the quarter ended September. One basis point is 0.01 percentage point.The bank's total slippages at just 19 basis points of its loan book or Rs 400 crore were made up by the Rs 495 of recoveries and upgrades the bank had in the quarter ended September. One basis point is 0.01 percentage point.
IFC's pandemic response is focused on reaching the most vulnerable people in the developing world. In March, IFC committed USD 8 billion in fast track financing to help pandemic-hit private sector companies.
As reported first by ET on July 27, the share purchase agreement between Axis Bank and Max Financial didn’t get RBI nod as it flouted the para banking guidelines of the central bank.
Five banks – Central Bank of India, IDBI Bank, Indian Overseas Bank, Uco Bank and Lakshmi Vilas Bank – are now under the RBI prompt corrective action (PCA) framework that brings in multiple restrictions aimed at conserving capital of banks and better their loss-absorption capacity.Five banks – Central Bank of India, IDBI Bank, Indian Overseas Bank, Uco Bank and Lakshmi Vilas Bank – are now under the RBI prompt corrective action (PCA) framework that brings in multiple restrictions aimed at conserving capital of banks and better their loss-absorption capacity.
Within industry, credit to food processing, petroleum, coal products & nuclear fuels, leather & leather products, wood & wood products, and paper & paper products registered accelerated growth in September 2020 as compared with the growth in the corresponding month of the previous year.Within industry, credit to food processing, petroleum, coal products & nuclear fuels, leather & leather products, wood & wood products, and paper & paper products registered accelerated growth in September 2020 as compared with the growth in the corresponding month of the previous year.
"The RBI has...imposed a monetary penalty of Rs 22 lakh on DCB Bank for non-compliance with certain provisions of directions issued by RBI contained in the circular on 'Marketing/distribution of mutual fund/insurance etc., products by banks' dated November 16, 2009," the RBI order attached with the filing said."The RBI has...imposed a monetary penalty of Rs 22 lakh on DCB Bank for non-compliance with certain provisions of directions issued by RBI contained in the circular on 'Marketing/distribution of mutual fund/insurance etc., products by banks' dated November 16, 2009," the RBI order attached with the filing said.
CEA KV Subramanian was referring to the situation where lending institutions continued to lend to borrowers that did not have the capacity to repay their debt, leading to a deteriorating asset quality that did not show up on the books of accounts of these lenders and eventually resulted in non-performing assets crisis.CEA KV Subramanian was referring to the situation where lending institutions continued to lend to borrowers that did not have the capacity to repay their debt, leading to a deteriorating asset quality that did not show up on the books of accounts of these lenders and eventually resulted in non-performing assets crisis.
More than 30 lenders have a collective exposure of about Rs 400 crore to the company, which started defaulting since the beginning of this month. Sambandh actually has assets under management of Rs 140 crore, while it officially declared an inflated figure of Rs 383 crore.More than 30 lenders have a collective exposure of about Rs 400 crore to the company, which started defaulting since the beginning of this month. Sambandh actually has assets under management of Rs 140 crore, while it officially declared an inflated figure of Rs 383 crore.
Last Friday, the government had announced the scheme for grant of ex gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts. The lending institutions have been asked to complete the exercise of crediting the amount in the accounts of borrowers by November 5.Last Friday, the government had announced the scheme for grant of ex gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts. The lending institutions have been asked to complete the exercise of crediting the amount in the accounts of borrowers by November 5.
Citing empirical research, the report said PMJDY accounts work as a primary vehicle for labour remittances, apart from increased lending, smoothing consumption, increased spending on healthcare and, most importantly, the usage is more frequent in areas that are more crime prone.Citing empirical research, the report said PMJDY accounts work as a primary vehicle for labour remittances, apart from increased lending, smoothing consumption, increased spending on healthcare and, most importantly, the usage is more frequent in areas that are more crime prone.
For payment to credit card holders, the relief will be calculated using the interest rate charged by the bank for converting outstandings into EMIs and not the rate charged to those who revolve their balances.
"The true thing is I almost did not come back," Puri said in one of the many interviews over the years. "I came back because of my father (Wing Commander Tapishwar Puri). I was still thinking… because I was sitting so pretty. I said papa why don’t you move to KL. There is enough help and we will look after you. He said no I don’t want to leave India. And I want to spend my last years with you. I want to die in your house.""The true thing is I almost did not come back," Puri said in one of the many interviews over the years. "I came back because of my father (Wing Commander Tapishwar Puri). I was still thinking… because I was sitting so pretty. I said papa why don’t you move to KL. There is enough help and we will look after you. He said no I don’t want to leave India. And I want to spend my last years with you. I want to die in your house."
"Under the scheme, all lending institutions (as defined under clause 3 of the scheme) shall credit the difference between compound interest and simple interest in the respective accounts of eligible borrowers for the period between March 1, 2020 to August 31, 2020," the govt said."Under the scheme, all lending institutions (as defined under clause 3 of the scheme) shall credit the difference between compound interest and simple interest in the respective accounts of eligible borrowers for the period between March 1, 2020 to August 31, 2020," the govt said.
The scheme mandates ex-gratia payment to certain categories of borrowers by way of crediting the difference between simple interest and compound interest for the period between March 1, 2020 to Aug 31, 2020 by respective lending institutions. The government had asked the lending institutions to complete the exercise of crediting the amount in the accounts of borrowers by Nov 5.The scheme mandates ex-gratia payment to certain categories of borrowers by way of crediting the difference between simple interest and compound interest for the period between March 1, 2020 to Aug 31, 2020 by respective lending institutions. The government had asked the lending institutions to complete the exercise of crediting the amount in the accounts of borrowers by Nov 5.
The SC had asked the government to explain the mechanism to implement its decision to waive interest on interest for the six-month moratorium period for those who had borrowed up to Rs 2 crore, including MSMEs.
In July, the private lender had taken symbolic possession of the sprawling complex situated off the Western Express Highway and overlooking the Mumbai airport. The action was taken under the SARFAESI Act to recover dues of Rs 2,892 crore from Reliance Infrastructure.In July, the private lender had taken symbolic possession of the sprawling complex situated off the Western Express Highway and overlooking the Mumbai airport. The action was taken under the SARFAESI Act to recover dues of Rs 2,892 crore from Reliance Infrastructure.
The committee of creditors (CoC) met Monday analysing the bids it had received from Oaktree, SC Lowy, Adani Capital and Piramal Group. It will likely meet on Saturday to take a call on revised bids, three people with knowledge of the matter told ET. Lenders are in favour of negotiating hard with bidders as they aim to maximise value of assets.
AU Small Finance Bank is experiencing an increase of 23 per cent in per day debit card spends. Overall, point-of-sale (PoS) and e-commerce transactions witnessed a surge of 16 per cent since the launch of the festive offers, it said in a release. The bank is already witnessing a bounce back in spending to pre-COVID levels, it added.
