The FM also announced an ARC-AMC mechanism (Bad bank) to tackle the bad loans among banks. A bad bank takes over the bad debts of banks, thereby helping the banks to clean up their books and focus on lending activities.
"We have got our policy approved on the co-lending and you will shortly be hearing some announcement from the company in terms of some agreement that we will enter with banks," Hardayal Prasad, Managing Director and CEO, PNB Housing Finance, told post company's third quarter earnings last week."We have got our policy approved on the co-lending and you will shortly be hearing some announcement from the company in terms of some agreement that we will enter with banks," Hardayal Prasad, Managing Director and CEO, PNB Housing Finance, told post company's third quarter earnings last week.
PhoneParLoan has tied up with companies like DTDC and Bisleri, where if a candidate gets selected as a delivery personnel and gets an offer letter, but does not have a bike, they are offered a loan via the PhoneParLoan platform.
Earlier this month, RBI Governor Shaktikanta Das indicated that the central bank can consider the idea of a bad bank to tackle non-performing assets (NPAs). "If there's a proposal to set up a bad bank, the RBI will look at it. We have regulatory guidelines for asset reconstruction companies," Das had said.PhoneParLoan has tied up with companies like DTDC and Bisleri, where if a candidate gets selected as a delivery personnel and gets an offer letter, but does not have a bike, they are offered a loan via the PhoneParLoan platform.Earlier this month, RBI Governor Shaktikanta Das indicated that the central bank can consider the idea of a bad bank to tackle non-performing assets (NPAs). "If there's a proposal to set up a bad bank, the RBI will look at it. We have regulatory guidelines for asset reconstruction companies," Das had said.
Special PMLA Judge AA Nandgoankar took cognisance of the complaint filed by ED on Saturday and directed all the accused to remain present before it on February 12.
Amara is a veteran banker, with a successful career spanning over 29 years at State Bank of India (SBI). Prior to taking charge at SBI Card, he was the Chief General Manager, SBI Bhopal Circle, where he managed two key states, Madhya Pradesh and Chhattisgarh.Amara is a veteran banker, with a successful career spanning over 29 years at State Bank of India (SBI). Prior to taking charge at SBI Card, he was the Chief General Manager, SBI Bhopal Circle, where he managed two key states, Madhya Pradesh and Chhattisgarh.
With the cancellation of licence and commencement of liquidation proceedings, the process of paying the depositors of Shivam Sahakari Bank as per the DICGC Act, 1961 will be set in motion.
The economic survey went on to add the audits conducted by the RBI failed to capture the evergreening at Yes Bank and LVB. Yes Bank had to be rescued by a consortium led by State Bank of India in March 2020 while LVB was force-merged with DBS Bank India at the end of last calendar year.The economic survey went on to add the audits conducted by the RBI failed to capture the evergreening at Yes Bank and LVB. Yes Bank had to be rescued by a consortium led by State Bank of India in March 2020 while LVB was force-merged with DBS Bank India at the end of last calendar year.
Even as India’s insurance penetration grew from 2.71% in 2001 to 3.76% in 2019, when compared with the penetration recorded in comparable Asian economies such as Malaysia, Thailand and China at 4.72, 4.99 and 4.30 % respectively, was found to be much lower, the survey stated.
Although six officials have been booked, the complaint from the Indian Overseas Bank shows that it was Veepuri who received over Rs 2.64 crore into his accounts while remaining five officials did not receive a single penny from the misappropriated funds in their accounts.Even as India’s insurance penetration grew from 2.71% in 2001 to 3.76% in 2019, when compared with the penetration recorded in comparable Asian economies such as Malaysia, Thailand and China at 4.72, 4.99 and 4.30 % respectively, was found to be much lower, the survey stated.Although six officials have been booked, the complaint from the Indian Overseas Bank shows that it was Veepuri who received over Rs 2.64 crore into his accounts while remaining five officials did not receive a single penny from the misappropriated funds in their accounts.
Addressing the joint sitting of Parliament on the first day of the Budget session, Kovind said the trinity of Jan Dhan Accounts, Aadhaar and Mobile (JAM) has helped safeguard the rights of people and Rs 1.8 lakh crore have been saved from falling into wrong hands.Addressing the joint sitting of Parliament on the first day of the Budget session, Kovind said the trinity of Jan Dhan Accounts, Aadhaar and Mobile (JAM) has helped safeguard the rights of people and Rs 1.8 lakh crore have been saved from falling into wrong hands.
Severe under-capitalisation of Indian banks was the inevitable outcome of prolonged forbearance. This triggered a distortion in bank's potential incentives, eventually emboldening them to indulge in risky lending. Such twisted incentives made banks go wrong on calculations, and as an end result, the quality of investment in the economy suffered badly.Severe under-capitalisation of Indian banks was the inevitable outcome of prolonged forbearance. This triggered a distortion in bank's potential incentives, eventually emboldening them to indulge in risky lending. Such twisted incentives made banks go wrong on calculations, and as an end result, the quality of investment in the economy suffered badly.
The Securities and Exchange Board of India (Sebi) has also said that it has constituted a Market Data Advisory Committee "to recommend appropriate policy for access to securities market data, identify segment wise data perimeters, data needs and gaps, recommend data privacy and data access regulations, etc".The Securities and Exchange Board of India (Sebi) has also said that it has constituted a Market Data Advisory Committee "to recommend appropriate policy for access to securities market data, identify segment wise data perimeters, data needs and gaps, recommend data privacy and data access regulations, etc".
He is the deputy managing director and group CFO of Mahindra and Mahindra (M&M) Ltd and is designated to take over as the managing director and CEO of the company from April 2, 2021, Mahindra Finance said in a release.
Credit card EMI options are useful if you are low on money and don't want to defaultHe is the deputy managing director and group CFO of Mahindra and Mahindra (M&M) Ltd and is designated to take over as the managing director and CEO of the company from April 2, 2021, Mahindra Finance said in a release.
The loans can be availed by customers who are seeking to purchase homes in regularised colonies of Delhi-NCR, including Laxmi Nagar, Uttam Nagar, Krishna Nagar and Pitampura, it said in a release.
One of the primary grievance in the complaint filed by the Automotive Tyres Manufacturers Association was about alleged increase in reinsurance premium charged to general insurance companies.
In its order passed on Wednesday, the regulator said the allegations of abuse of dominance specifically relate to arbitrary increase in interest rate on home loan and increase in tenure of home loan by the bank on the basis of one-sided conditions in the loan agreement.In its order passed on Wednesday, the regulator said the allegations of abuse of dominance specifically relate to arbitrary increase in interest rate on home loan and increase in tenure of home loan by the bank on the basis of one-sided conditions in the loan agreement.
"Company's focus on customers' needs and meeting the needs of their agents and sales force throughout the tough time helped the company become the fastest growing life insurer in December 2020 with 41 per cent growth in retail new business," it said in a release."Company's focus on customers' needs and meeting the needs of their agents and sales force throughout the tough time helped the company become the fastest growing life insurer in December 2020 with 41 per cent growth in retail new business," it said in a release.
In October last year, the Banks Board Bureau (BBB) had recommended both the names for the two posts of managing directors at the bank. It had interviewed 16 candidates from various nationalised banks and SBI last year, according to the information available on BBB's website.In October last year, the Banks Board Bureau (BBB) had recommended both the names for the two posts of managing directors at the bank. It had interviewed 16 candidates from various nationalised banks and SBI last year, according to the information available on BBB's website.
It can be noted that in the bi-annual Financial Stability Report (FSR) released last month, the RBI had expected banks' non-performing assets to deteriorate further because of the pandemic and asked them to be cautious.It can be noted that in the bi-annual Financial Stability Report (FSR) released last month, the RBI had expected banks' non-performing assets to deteriorate further because of the pandemic and asked them to be cautious.
Banking sources added that Capri Global and Kotak Special Situation Fund have bid for retail assets.
From the lender’s perspective, a loan that is classified as a non-performing asset (NPA) would mean that the bank would have to take a hit on its earnings.
A major objective of the restructuring exercise was to relook at the operating model. “During Covid, the number of people visiting branches had gone down. The prognosis is that habits once acquired will not go away easily and we must be prepared for a world where branches are less central to the BoB network,” MD & CEO Sanjiv Chadha said. Instead of branches, the bank would focus on customer touchpoints or outlets, which numbered 25,000.A major objective of the restructuring exercise was to relook at the operating model. “During Covid, the number of people visiting branches had gone down. The prognosis is that habits once acquired will not go away easily and we must be prepared for a world where branches are less central to the BoB network,” MD & CEO Sanjiv Chadha said. Instead of branches, the bank would focus on customer touchpoints or outlets, which numbered 25,000.
"He will also cease to be the MD&CEO of the company from the said date," said the pure-play card company promoted by the country's largest lender SBI.
