Page 25 - Harsh Kumar

Microfinance industry AUM up 22% at Rs 1.4 trillion till June, shows data

The loan amount of Rs 26,223 crore was disbursed in Q1 FY24-25 through 56.8 lakh accounts, including disbursement of owned as well as managed portfolios

FM Nirmala Sitharaman approves 'Navratna' status for four CPSEs

The Department of Public Enterprises (DPE) in its statement said that Rail Ministry India CPSE had an annual turnover of Rs 2,622 crore and a net profit of Rs 246 crore for FY 2023-24

72% Indians believe financial institutions collect more data than required

The survey further added that a resounding 86% of users express a desire for granular control over data sharing

No restrictions for queer community to open joint bank accounts: FinMin

The ministry also said that a clarification in this regard has also been issued by the Reserve Bank of India (RBI) to all the scheduled commercial banks on August 21, 2024

Regional Rural Banks evince interest in going public at meet with FM

"Through the IPO, we aim to enhance our credibility as a prestigious organization to be part of and worth investing in," said a senior executive of an RRB

Foundations laid by PMJDY strong, have even more work to do, says PM Modi

He further added that the life journeys of those who have benefited from this scheme (PMJDY) are very touching and inspiring

Will open 30 million Jan-Dhan accounts this FY, says FM Sitharaman

The average balance per account has increased from Rs 1,065 in March 2015 to Rs 4,352 as of August 16, 2024. Roughly 80 per cent of these accounts are currently active

No NPS rollback; UPS an attempt to improve it: FM Nirmala Sitharaman

'Fresh scheme not compulsory for states'

FM Nirmala Sitharaman seeks RBI help to clear RRB dues with states

The finance minister also directed RRBs to become more customer-friendly and use their local connections to further improve performance

To ban or regulate? Govt's cryptocurrency paper likely by October 2024

In October 2023, G20 finance ministers and central bank governors adopted the roadmap on crypto assets proposed in the synthesis paper, calling for its swift and coordinated implementation

FM Sitharaman urges regional rural banks to reduce high attrition rates

RRBs were established regionally and are oriented towards rural areas, with capital contributed by the Government of India, state governments, and sponsored banks under the RRB Act, 1976

Focus on deposits, strengthen cybersecurity: FM Sitharaman to banks

The FM also met top officials of regional rural banks in a separate meeting, where banks were asked to expedite one state-one RRB initiative

FM to discuss bad loans taken over by NARCL with PSBs, RRBs on Monday

Sitharaman had last chaired a meeting with heads of PSBs in December 2023

PSBs target healthcare, housing to boost deposits with new lucrative deals

RBI Governor Shaktikanta Das highlighted at the press briefing that interest rates are deregulated and banks are free to decide on interest rates

Karnataka govt pauses decision for 15 days on PNB and SBI request

The statement further noted that on August 16, 2024, both banks submitted written representations to the government, requesting an additional 15-day period to resolve the matter

Financial bids for Chhattisgarh-based NMDC Steel likely in two months

The Union Budget has set the target for miscellaneous capital receipts, including disinvestment, at Rs 50,000 crore for FY25 compared to the revised estimate of Rs 30,000 crore for FY24

Regional Rural Banks losing ground to private banks amid tech challenges

The increasing presence of private sector banks has made the situation more challenging as RRBs fight the battle with outdated tools while other banks have advanced technology and basic infrastructure

SBI, Punjab National Bank in talks with Karnataka to resolve issues

One incident involved PNB's Rajajinagar branch, where the Karnataka State Industrial Board had fixed deposits of approximately Rs 25 crore, but PNB released only Rs 13 crore on maturity

Govt committed to 'major economic reforms', says PM Narendra Modi

PM said, his government has chosen the path of reforms to bring about a change in the lives of the poor, the middle class, deprived people, the urban population, and the youth

From Canara Bank to HDFC Bank, banks up the ante on deposit drive

Private sector lender Bandhan Bank on the other hand, decided to up their rate substantially over others. On Tuesday, it announced a new bucket of 1 year 9 months at an attractive interest rate of 8%