Page 1017 - Finance News
In a first, DCB Bank offers Aadhaar-based ATM transactions sans PIN
Users can key-in 12-digit Aadhaar number, but when confirming identity, it requires biometric details rather than PIN
 "In a first, DCB Bank offers Aadhaar-based ATM transactions sans PIN")
RBI may cut interest rate by up to 0.50% to propel growth
Bankers said high interest rate could make Indian economy sluggish given that inflation is around 5%
 "RBI may cut interest rate by up to 0.50% to propel growth")
In a first, DCB Bank offers ATM transactions sans PIN
Customers can now transact in the ATM using their biometric details
Axis Bank uses student ideation to support smart cities
Will look at similar themes in future; Foundation will be implementing them
 "Axis Bank uses student ideation to support smart cities")
NBFCs tie up with P2P lending firms to source customers
RBI looking to monitor sector as it's gaining momentum with several online players setting shops
 "NBFCs tie up with P2P lending firms to source customers")
Syndicate Bank issues Rs 500-cr Basel-3 compliant bonds
Bonds with a face value of Rs 10 lakh each carry a coupon rate of 11.25 a year
 "Syndicate Bank issues Rs 500-cr Basel-3 compliant bonds")
SBI launches NO Queue app for customers to save on time
Customers can view expected waiting time at a branch, number of customers waiting and distance to the branch from point of booking
 "SBI launches NO Queue app for customers to save on time")
Karnataka Bank eyes Rs 1 lakh crore business in 2016-17
The bank's Managing Director and CEO Jayarama Bhat has envisaged an overall growth of 18.6% in the business
 "Karnataka Bank eyes Rs 1 lakh crore business in 2016-17")
Equitas steps up procedures to get small finance bank licence
Has started reducing FII shares, merging subsidiaries and establishing IT systems to comply with RBI regulations
 "Equitas steps up procedures to get small finance bank licence")
No upturn soon in ECBs despite new rules
Bankers and analysts say the policy change is conductive in the long run for companies to use the ECB route
 "No upturn soon in ECBs despite new rules")
Banks can reduce cost by 50% per transaction, says Report
It pointed out smart devices will grow in importance, take their place alongside cards (debit/ credit/ATM) as primary medium for consumer payment
 "Banks can reduce cost by 50% per transaction, says Report")
Consumer loans become cheaper as banks adopt new rate formula
RBI had asked banks to price fixed rate loans of up to three years based on marginal cost of funds from April 1
 "Consumer loans become cheaper as banks adopt new rate formula")
Bank Unions demand Parliamentary probe into Mallya's episode
Plan to go on dharna as well as a strike in May
 "Bank Unions demand Parliamentary probe into Mallya's episode")
Commercial banks announce new lending rate structure
The overnight MCLR rate of seven large banks, including SBI, ICICI Bank, HDFC Bank and Axis Bank, varied between 8.95% (SBI) to 9.15% (PNB)
 "Commercial banks announce new lending rate structure")
RBI notifies 49% FDI under automatic route in insurance
Earlier, only up to 26 per cent FDI was permitted through the automatic approval route
 "RBI notifies 49% FDI under automatic route in insurance")
HDFC Bank to raise up to Rs 5,000 cr via infra bonds
CRISIL assigns AAA/Stable rating to bond issuance; rating on bank's other debt instruments reaffirmed at AAA/Stable
 "HDFC Bank to raise up to Rs 5,000 cr via infra bonds")
SBI's new home loans to be cheaper by 10 bps
New Loan pricing regime kicks in from April
SBI sets lending rates under new rules
SBI will charge an annual interest of 9.2% for loans of 1-year tenor, 9.3% for 2-year tenor, 9.35% for 3-year tenor
 "SBI sets lending rates under new rules")
State Bank of Travancore raises Rs 515 cr via tier II bonds
The coupon rate on the bonds with a tenure of 10 years is fixed at 8.45%
 "State Bank of Travancore raises Rs 515 cr via tier II bonds")