Page 446 - Finance News

Union Bank of India raises Rs 1,500 crore via Basel-III compliant bond

State-run Union Bank of India has raised Rs 1,500 crore by issuing Basel III compliant bonds on a private placement basis.

Bank strike continues for second day, services hit at many places

Banking services across Tamil Nadu remained hit for the second day on Friday with employees union staging a protest against the proposed privatisation of nationalised banks by the government

Credit card users spent Rs 39,000 cr on digital payments in 2021: Report

Expenditure on food and utility bills remained consistent during all months while food and beverages saw high spending after the lockdown restrictions were eased from July to October

RBI's push towards card security likely to hit merchants, lenders: Report

Merchants and bankers argue they have not been given enough time to comply with the changes that RBI wants to make effective Jan 1, 2022

Bank strike continues for second day; services across Bengal hit

Banking operations in West Bengal were severely affected for the second consecutive day as lakhs of employees and officers of public sector lenders continued their nationwide strike

India's largest lender SBI increases benchmark lending rate by 0.1%

State Bank of India (SBI) has increased benchmark lending rate or base rate by 0.1 per cent, a move that may be followed by other lenders.

RBI refuses to relax asset classification, provisioning norms for NBFCs

This will give rise to bad debt numbers of such para banks on technical grounds while making asset quality norms standardised across banks and NBFCs

Rupee gains, bond yields stable after US Fed keeps policy rates unchanged

The rupee closed at 76.09 a dollar, up from its previous close of 76.23 a dollar

Need to harmonise rules on taxation and recovery for NBFC too: FIDC

Urges govt to exempt TDS on interest payment made to NBFCs, as in the case of banks and life insurers

PhonePe is first payments firm to tokenise cards on Visa, Mastercard, Rupay

The company claims the tokenisation solution will help businesses save significant time and effort by removing the need to integrate with multiple card networks while complying with RBI norms

Banking services impacted as 900,000 employees go on two-day strike

Staffers take out marches in protest against privatisation of public sector banks; a few customer service centres kept functional

RBI fines ICICI Bank Rs 30 lakh and PNB Rs 1.8 cr for non-compliance

RBI found non-compliance on part of ICICI Bank with directions related to levy of charges for non-maintenance of minimum balance in saving accounts

Scheduled payment banks, SFBs to do government agency business: RBI

Bank executives said this is step to broad-base set up and enhance quality of service for government business

RBI's PCA framework to discipline NBFC sector in long run, say analysts

Three different risk thresholds, three different yardsticks to measure PCA risk thresholds. The curns against the NBFC get progressively tightened as they breach higher threshold levels

Capital norms for operational risks of banks to be revised: RBI

The revised directions will apply to all commercial banks in India

Jury still out on giving bank licences to industrial houses: RBI official

Given that banking is a highly leveraged business dealing with public money, it makes sense to keep industry/business and banking separate, says RBI deputy governor M Rajeshwar Rao

Micro-loan disbursement up 154.5% QoQ to to Rs 64,899 cr in Sept: MFIN

The number of loans disbursed also rose sharply to 18.5 million in Q2FY22 from 7.1 million in Q1FY22

PSU bank staff to go on two-day strike from Thursday; services may get hit

Most of the banks, including SBI, have already cautioned their customers about the strike's possible impact on banking operations like cheque clearance and fund transfer

Prompt corrective action: A clear framework to help NBFCs remain in shape

There are about 10,000 NBFCs registered with the RBI, but only a few that can potentially face these PCA restrictions

FSS, CSB Bank to open 1,000 Smart Cash franchisees for financial inclusion

Modelled on a branch-in-a-box service concept, Smart Cash franchisees would offer affordable banking, investment, credit, and insurance products to target segments