Page 377 - Finance News

Comply with digital lending norms for existing loans by Nov 30: RBI

Guidelines applicable to new and existing customers taking fresh loans

1-year median MCLR rise moderates in August, up 40 bps since June

Foreign banks have raised it the most, median rate up 90 bps; just 20-bp rise for private banks

RBI to run pilot for digitising Kisan Credit Card lending in MP, Tamil Nadu

Project aims to prune costs and turn-around time for borrowers, will entail automation of various processes within banks and integration of their systems with those of service providers

Govt starts work to make regional banks viable; DFS to organise workshop

The government is also nudging operationally sound RRBs to explore listing on the stock exchanges, creating additional sources to meet their regulatory capital requirement

RBI launches project to digitise KCC to transform rural credit delivery

To transform rural credit delivery system, the Reserve Bank has decided to launch pilot projects to digitise Kisan Credit Card (KCC) in Madhya Pradesh and Tamil Nadu

Bank of Baroda raises Rs 2,474 cr by issuing bonds through stock exchanges

Bank of Baroda has raised Rs 2,474 crore by issuing bonds at the rate of 7.88 per cent through stock exchanges

PE, Sovereign funds making larger investments in Indian tech firms

PE funds like Advent, TPG, Temasek and GIC have sped up their investments in India with larger cheques of $100 million or more

Dhanvarsha makes unsolicited offer of Rs 300 cr to buy Dhanlaxmi Bank

According to sources familiar with the development, Dhanvarsha has offered Rs 11.85 per share, totalling Rs 300 crore, to acquire the entire equity stake in the bank

HDFC Bank to open 207 branches in Maharashtra, hire more than 3,000

The smart banking lobbies will be set up in 16 districts and will be operational 24 hours and 7 days

RBI unlikely to accept NBFCs' requests for bad-loan exemptions: Report

Under the new norms, shadow banks will have to recognise bad loans on a daily basis, rather than monthly, as some now do

ICICI Bank, Bandhan Bank, Karnataka Bank increase MCLR across tenors

Loan rates going up after central bank's rate-setting committee hiked benchmark policy rate by 50 basis points

Indian Bank hikes MCLR by 0.10% across tenors from September 3

State-owned Indian Bank has revised the marginal cost of funds-based lending rates (MCLR) by 0.10 per cent across tenors from Saturday, which will make most of the consumer loans costlier

SBI Card ready with card tokenisation mandate: MD & CEO Rama Mohan Rao

The pure-play credit card issuer SBI Card has prepared the ground for moving towards card tokenization, which is set to kick-in from Oct, a move aimed at protecting against fraud as well as data theft

HDFC Bank partly recoups market share in credit card spends lost to embargo

RBI data shows that the bank has 28.4% market share in spends as of July, up 190 bps since last August. Pre-embargo, its share was 30.67%

Punjab National Bank to hike MCLR by 0.05% across tenors from Sep 1

Punjab National Bank has raised the marginal cost of funds-based lending rate (MCLR) by 0.05 per cent across tenors from September 1, making most of the consumer loans costlier

SBI to sell Anamika Conductors' bad loan account to recover Rs 102 cr

SBI will sell non-performing loan account of Anamika Conductors through e-bidding in late September to recover dues of Rs 102 crore

Fed policy action, RBI rate decision key driving factors for mkts: Analysts

The US Fed policy action, RBI rate decision and foreign fund flows are some of the major factors that will guide the equity markets in the near-term, analysts said

Ministry of Finance reviews performance of PSBs, pushes for credit growth

The govt reportedly said that it was keen on National Asset Reconstruction Company of India Ltd (NARCL) starting its operation

Jammu and Kashmir to Kerala, SBI executives are at every corner office

At least three PSBs have former SBI executives as MD & CEO at present - Sanjiv Chadha of Bank of Baroda, Partha Pratim Sengupta of Indian Overseas Bank and Soma Sankara Prasad of UCO Bank.

Credit card spends touch all-time high of Rs 1.16 trillion in July

Spends have topped Rs 1 trillion level for five consecutive months now