Page 1199 - Finance News
RBI warns against evading validation in CNP payments
RBI said it was brought to its notice that certain CNP transactions were taking place without additional validation
 "RBI warns against evading validation in CNP payments")
RBI takes broad swipe at Uber's credit card transactions, other FEMA violators
Without naming a specific entity, the central bank said that it had got complaints on breaches of the law as mentioned & advised the entities concerned to stop such arrangements
 "RBI takes broad swipe at Uber's credit card transactions, other FEMA violators")
RBI issues draft charter of customer rights
Charter spells out rights of customer and also responsibilities of financial service provider
 "RBI issues draft charter of customer rights")
RBI to conduct more frequent term repos
Likely to auction govt cash balances to manage liquidity
 "RBI to conduct more frequent term repos")
New 10-year G-sec yet to become top traded security
Only once, on August 14, did the new bond maturing 2024 and issued on July 28 have the highest trading volumes
 "New 10-year G-sec yet to become top traded security")
ICICI Bank plans to add more than 1.5 million accounts in FY15
At the start of this year, the bank has also launched Tab banking for its rural customers
 "ICICI Bank plans to add more than 1.5 million accounts in FY15")
RBI warns banks against flouting credit card security norms
RBI said that online transaction must be done in Indian currency through a bank in India
 "RBI warns banks against flouting credit card security norms")
Corp Bank skipped FinMin norms while nominating board candidates
Two of nine candidiates already completed several terms in PSBs, bank says ministry guidelines only advisory and not mandatory
 "Corp Bank skipped FinMin norms while nominating board candidates")
Bengal govts savings scheme in limbo as banks back out
Big setback for the scheme comes with SBI seeking higher fee
 "Bengal govts savings scheme in limbo as banks back out")
RBI balance sheet expands 10% in FY14
Entire surplus transferred to government as balances were in excess of buffer
 "RBI balance sheet expands 10% in FY14")
RBI mulls comprehensive debt management plan
The focus shall also be on consolidation of public debt and reducing rollover risk through active switch/buyback operations
Stressed assets in infra rose sharply: RBI
The central bank also says that even at 10%, the stressed advances remain high
 "Stressed assets in infra rose sharply: RBI")
Top posts at four govt banks still vacant
Kolkata-based UBI top position vacant since Feb after Archana Bhargava resigned
 "Top posts at four govt banks still vacant")
RBI staff union meets Rajan on various concerns
Union says Rajan assures RBI will oppose legislative changes of FSLRC
 "RBI staff union meets Rajan on various concerns")
RBI prescribes tighter norms for NBFCs to lend against shares
Move to help curb stock market volatility due to offloading by NBFCs
Public sector banks rally as the govt plans to improve risk management
The ministry has also asked banks to prepare a list of large borrowers
 "Public sector banks rally as the govt plans to improve risk management")
Canara Bank expects Rs 500 cr capital from govt this fiscal
The bank will require additional capital to support its lending activity
 "Canara Bank expects Rs 500 cr capital from govt this fiscal")
Dena Bank to open 100,000 new accounts in Gujarat by Aug 28
The accounts will be opened with zero balance for all category of people including those coming under below poverty line
 "Dena Bank to open 100,000 new accounts in Gujarat by Aug 28")
Axis Bank plans to raise Rs 6,000 cr via long term bonds
This comes after RBI incentivised banks to raise long term bonds by relaxing norms
 "Axis Bank plans to raise Rs 6,000 cr via long term bonds")
Govt taking steps to professionalise PSU bank management: FM
Says professionalising the management of the banks will help them strengthen their risk management system
 "Govt taking steps to professionalise PSU bank management: FM")