Page 425 - Finance News
RBI imposes penalty on 3 co-op banks for lapses in regulatory compliance
The Reserve Bank of India has imposed a penalty on three cooperative banks, including Nagrik Sahakari Bank Maryadit, Raipur, Chhattisgarh, for deficiencies in regulatory compliances
 "RBI imposes penalty on 3 co-op banks for lapses in regulatory compliance")
PNB to clear cheques of Rs 10 lakh & above only after customer confirmation
Punjab National Bank (PNB) said high-value cheques of Rs 10 lakh and above will be cleared after reconfirmation with the issuer under the Positive Pay System (PPS) from April 4
 "PNB to clear cheques of Rs 10 lakh & above only after customer confirmation")
What is the SWIFT payment system?
Following Russia's attack on Ukraine, the EU and the US announced measures to block selected Russian banks from the SWIFT payments system. What is SWIFT? Watch this report to know more about it
 "What is the SWIFT payment system?")
Ukraine-Russia war: Should you increase exposure to gold, real estate?
Gold has been the best-performing asset class this year. Real estate prices are also rising. So, should you invest in these asset classes? Watch our next report to know what analysts are advising
 "Ukraine-Russia war: Should you increase exposure to gold, real estate?")
Reserve Bank of India to take stock of banks' exposure to Russia, Ukraine
The move is intended to harm Russian president Vladimir Putin's ability to finance the war
 "Reserve Bank of India to take stock of banks' exposure to Russia, Ukraine")
Focus of Union Budget was on providing stability post Covid pandemic: FM
Sitharaman said the 2022 Budget was a continuity of the previous budget last year which was more exhaustive in laying out the formulation, principle and then provide stability for revival from Covid
 "Focus of Union Budget was on providing stability post Covid pandemic: FM")
MFIs' qualifying asset threshold has to be lowered, says Alok Misra
'MFIN has been pushing its members to do daily reporting to credit bureaus', said Misra
 "MFIs' qualifying asset threshold has to be lowered, says Alok Misra")
ATMs are much more than a till-box
Today's ATMs give you everything you want - from withdrawing cash to the possibility of depositing cheques and even opening a bank account
 "ATMs are much more than a till-box")
Digital recovery of retail loans set to surge, reduce cost of field agents
The threat of real or make-believe police complaints and legal notices against borrowers has been used for recovery
 "Digital recovery of retail loans set to surge, reduce cost of field agents")
Govt to provide bulk of Rs 15,000 cr capital support to weak PSU banks
Weak public sector lenders like Central Bank of India and Punjab & Sind Bank will get the lion's share of the Rs 15,000 crore earmarked for capital infusion in state-owned banks for the current fiscal
 "Govt to provide bulk of Rs 15,000 cr capital support to weak PSU banks")
RBI proposes to assess impact of its financial literacy campaigns
The Reserve Bank of India is proposing to assess the impact of the multi-media awareness campaigns launched by it to promote financial literacy and also safe banking practices.
 "RBI proposes to assess impact of its financial literacy campaigns")
RBI extends tenure of its additional director on board of Dhanlaxmi Bank
The Reserve Bank has extended the tenure of its additional director G Jagan Mohan on the board of Dhanlaxmi Bank by two years, as per a regulatory filing
 "RBI extends tenure of its additional director on board of Dhanlaxmi Bank")
NBFC biz to return to normal, FY23 loan growth pegged at 14%: India Ratings
These companies are likely to begin FY23 with sufficient capital buffers, stable margins and sizable on-balance sheet provisioning, while adequate system liquidity would aid funding
 "NBFC biz to return to normal, FY23 loan growth pegged at 14%: India Ratings")
What is red herring prospectus?
Markets are awaiting the IPO of Life Insurance Corporation of India. Even before it hits the primary market, LIC filed a draft red herring prospectus (DRHP) with the SEBI. Find out more about this doc
 "What is red herring prospectus?")
Uneven economic recovery nudged MPC to continue policy support: Minutes
The six-member MPC voted to keep the policy rate unchanged and continued with the accommodative stance at its meeting on February 10
Bank credit grows by 7.86%; deposits by 9.11%: RBI data
Bank credit grew by 7.86 per cent to Rs 115.45 lakh crore and deposits rose by 9.11 per cent to Rs 161.28 lakh crore in the fortnight ended February 11, RBI data showed.
 "Bank credit grows by 7.86%; deposits by 9.11%: RBI data")
Northern Arc Group to acquire SMILE Microfin
The transaction will involve the takeover of the microfinance portfolio of S.M.I.L.E., along with its network of nearly 150 branches catering to over 0.2 million customers.
 "Northern Arc Group to acquire SMILE Microfin")
RBI cancels PC Financial Service's certificate of registration
The company violated the central bank's directions on outsourcing and KYC norms and was also found to be charging very high interest rates and other charges from its borrowers
NBFCs' loan sanctions up 5% YoY in Q3FY22: Data
Consumer credit drives action; commercial segment shows modest growth, according to FIDC-CRIF data
M&M Finance's looks to double AUM of Lankan venture
Company exploring entry into Bangladesh
 "M&M Finance's looks to double AUM of Lankan venture")