Page 1173 - Finance News

India's forex reserves down $672 million

Govt banks get autonomy to appoint auditor

RBI will provide the selection criteria for selecting SCAs to PSBs

700 companies under RBI lens for non-payment of investor money

The move comes against the backdrop of rising instances of people getting duped by illicit money pooling activities

Small finance banks: Gold loan firms, MFIs seem keen on licence

Interest among both segments after Thursday's final guidelines, although many say they'd prefer to wait and watch, especially as there's no time limit for applications

Payment bank: Telcos seem attracted in the segment

However, despite infra and network in place, doubts on extent and timeline on revenue generation, apart from competition

Large banks may not be game stake in payment banks

An advisor with Indian Banks' Association said large banks themselves have an extensive branch network to cover under-banked regions

Centre may cut stake in public sector banks to 52%

Move likely to mobilise Rs 89,000 crore

Reserve Bank scraps 80:20 norm for gold imports

Trade cheers at easing, says decision will curb smuggling, cut red tape

Banks in Odisha achieve 28 % of annual credit plan

The credit to micro and small enterprises, education and housing sectors are abysmally low

Govt plans to cut stake in PSBs to 52%; may get Rs 89,120 cr

There are about two dozen PSBs and government holding in them is between 56.26% and 88.63%

Don't expect too many banks propping up immediately

Manojit Saha explains why RBI will remain 'conservative' in granting licences for payment banks and small banks

Govt considering plan to reduce stake to 52% in state banks

Govt holds stakes ranging from 56% to 84% in state-run banks

Euronet India may apply for payment bank licence

Gets RBI approval to enter remittance market

Bandhan to use SMS tech for rural banking

Niche bank guidelines get thumbs-up from those keen to apply

FM revises account opening target under Jan Dhan to 100 million

The initial target was 75 million. As of Nov 25, 80 million accounts have already been opened

PSBs' small troubles

Now retail segment faces asset quality pressure

Banks can give loans up to Rs 10 lakh to retail investors against infra bonds

The purpose in giving such loans is to provide liquidity to retail investors

RBI's payment bank norms to deepen financial inclusion

But RBI denies them entry into small banks; removes geographical restrictions

RBI says small finance banks will not have restriction in area of operations

These banks shall undertake basic banking activities of acceptance of deposits and lending to underserved sections