Page 447 - Finance News

HDFC, Bajaj Finance hike rates on long term deposits ahead of RBI meet

India's largest mortgage lender, HDFC Ltd, hiked its long-term rates by upto 15 basis points (bps)

Festive season retail demand, MSME drive bank loan growth in October

Credit offtake in services remains weak

Axis Bank stock gains after Fitch affirms rating at 'BB+'

The ratings agency has maintained 'Negative' on the bank's long-term IDR

Rs 26,697 cr lying in dormant accounts of banks: FM Sitharaman

This money is lying in nearly 9 crore accounts which have not been operated for 10 years

Issued no direction to banks to not give loans to 'sensitive customers': FM

Sitharaman, during Question Hour in the Rajya Sabha, said there is no "official stated policy" directing banks not to give loans to certain categories of customers.

FM says Crypto Bill will be introduced in Parliament after Cabinet nod

'We are not considering a ban on the advertisements, but we've been taking steps to caution the public through RBI and SEBI,' says Nirmala Sitharaman

Governance, transparency in Indian banks weak by global standards: S&P

The lack of improvement in risk management and corporate governance in the coming growth cycle could produce a new crop of sour loans, the rating agency said

Outward remittances under RBI's LRS surge after FY21 lull due to Covid-19

Under LRS, all resident individuals, including minors, are allowed to remit up to $250,000 in every financial yr for any permissible current or capital account transactions, or a combination of both

Understanding provident fund and public provident fund

Those working in the private sector don't have retirement benefits like pension. The retirement corpus they build over the years is through provident fund (PF). But what are PF and PPF? Let's find out

IndusInd Bank's subsidiary defers review of decision to relieve top 2 execs

Last week, the bank had said that the two top executives of BFIL cannot be relieved from their positions until the review of certain transactions at the company is completed

LIC gets RBI's nod to increase stake in Kotak Mahindra Bank to 9.99%

According to the central bank norms, prior approval of the RBI is required to increase stake in private banks beyond 5%

NBFC fragile assets likely to rise to 5-6% by March 2022: Crisil

Asset quality pressures vary across asset classes. While home and gold loans have been relatively less affected, unsecured credit and SME loans faced brunt

RBI wants digital currency included under definition of 'bank note': FinMin

RBI is working out a phased implementation strategy for introduction of Central Bank Digital Currency with little or no disruption

Hindujas to raise stake in IndusInd Bank, raising $1.1 bn for funds: Report

RBI, last week, came up with rules that held back on an internal working group's proposal to let industrial houses own banks

Officials hope tough regulations could eventually let NBFCs into banking

RBI accepted 21 of 33 recommendations of internal working group, the key being allowing promoters to hold 26% in the bank they floated. RBI did not mention corporate and NBFC issues in its guidelines

Draft amalgamation scheme insensitive and a cruel joke: PMC depositors

PMC assets sufficient to meet liabilities of all retail depositors, says Depositors Association

RBI imposes monetary penalty of Rs 1 crore on State Bank of India

The Reserve Bank of India (RBI) by an order dated November 16 has imposed a monetary penalty of Rs 1 crore on the State Bank of India

Bank of Baroda raises Rs 1,997 cr via Basel III-compliant bonds

State-owned Bank of Baroda on Friday said it has raised Rs 1,997 crore by issuing Basel III-compliant bonds.

RBI fines SBI Rs 1 crore for holding excess shares in borrower companies

SBI allegedly violated the 30% cap on holdings imposed under the Banking Regulation Act

RBI keeps on hold suggestion to give bank licence to big businesses

The RBI has so far issued eight bank licensing guidelines to harmonise the rules and regulations