Page 450 - Finance News
SBI yet to refund Rs 164 cr undue fee charged from Jan Dhan a/c holders
SBI is yet to return Rs 164 crore of undue fee charged from the account holders of Pradhan Mantri Jan Dhan Yojana (PMJDY) towards digital payments during April 2017 and December 2019, a report said.
 "SBI yet to refund Rs 164 cr undue fee charged from Jan Dhan a/c holders")
FM to lead a team of 7 secretaries for discussions at GIFT City on Saturday
The role of GIFT-IFSC as gateway to global financial services for Indian corporates within India, attracting global financial business to India will be discussed
 "FM to lead a team of 7 secretaries for discussions at GIFT City on Saturday")
RBI's retail direct, integrated ombudsman schemes off to a good start
Over 35,000 registrations on retail direct platform; complaints under new ombudsman rise steadily, some coming via emails
 "RBI's retail direct, integrated ombudsman schemes off to a good start")
FM Sitharaman to lead a team of secretaries for discussions at GIFT City
Talks are likely to revolve around role of GIFT-IFSC as a gateway to global financial services for Indian companies, attracting global financial business to India, and growth as a fintech global hub
 "FM Sitharaman to lead a team of secretaries for discussions at GIFT City")
Amid Covid, diversification remains even more elusive for Bandhan Bank
Even after seven years of operations, Bandhan's concentration on micro loans remains high
 "Amid Covid, diversification remains even more elusive for Bandhan Bank")
Understanding fixed and recurring deposits in banks
Before the equity market, mutual funds and other investment options became household names, FDs and RDs were considered the safest mode to park money. Let us decode them in this segment
 "Understanding fixed and recurring deposits in banks")
Govt to set up working groups to prepare action plan: Bank officials
Finance ministry is likely to constitute working groups which will define action plans that will be aimed at providing seamless credit flow to various sectors, bank executives said
 "Govt to set up working groups to prepare action plan: Bank officials")
RBI working group warns on digital lending by big tech players
The working group has recommended the formation of a nodal agency & SRO for digital lending apps
Google to chip in Rs 110 cr for MSME lending project in pact with Sidbi
Sidbi anchors programme for micro enterprises with loans up to Rs 1 cr at subsidised interest rates
 "Google to chip in Rs 110 cr for MSME lending project in pact with Sidbi")
RBI panel suggests separate law to prevent illegal digital lending via apps
Seeking to safeguard the interest of customers, a Reserve Bank working group has suggested enactment of a separate legislation to prevent illegal digital lending through apps.
 "RBI panel suggests separate law to prevent illegal digital lending via apps")
RBI report urges new nodal agency, SRO, law to ban illegal digital lending
Says balance sheet lending through DLAs should be restricted to entities regulated by RBI or entities registered under any other law for specifically undertaking lending business
 "RBI report urges new nodal agency, SRO, law to ban illegal digital lending")
Punjab National Bank raises Rs 1,919 crore via Basel compliant bonds
State-owned Punjab National Bank said it has raised Rs 1,919 crore by issuing Basel compliant bonds
 "Punjab National Bank raises Rs 1,919 crore via Basel compliant bonds")
Banking sector strong today due to current regime's reforms: PM Modi
Banks have to adopt a partnership model and reach out to their customers in a proactive manner, Modi said
 "Banking sector strong today due to current regime's reforms: PM Modi")
Over Rs 5-trn recovery made by banks from stressed loans, says PM Modi
PM Modi emphasised that the banking sector must take advantage of the big reforms and schemes as well as the big pool of data that has been created in the country
Karnataka sets up fintech task force with Razorpay, Zerodha founders
The task group will work towards creating a roadmap for the growth of the industry, identifying the opportunities and challenges faced by the fintech ecosystem
 "Karnataka sets up fintech task force with Razorpay, Zerodha founders")
Big technology platforms like Google no threat to banks, say experts
Google has a customer interface feature and the Unified Payments Interface (UPI) is a feature for mobile to mobile payment
 "Big technology platforms like Google no threat to banks, say experts")
Bank credit grows at 7.14%, deposits at 11.42%, shows RBI data
Bank credit grew by 7.14 per cent to Rs 111.64 lakh crore and deposits increased by 11.42 per cent to Rs 160.49 lakh crore in the fortnight ended November 15, 2021, RBI data showed.
 "Bank credit grows at 7.14%, deposits at 11.42%, shows RBI data")
Pilot launch of RBI digital currency set for Q1 of FY23: Senior official
RBI is checking if intermediaries can be bypassed totally, and is also exploring the level of centralisation or decentralisation of the technology
Differences abound in global, India inflation drivers, say experts
Say, overall, inflation unlikely to be a major worry in India, except for food inflation
 "Differences abound in global, India inflation drivers, say experts")
Banks' strategies, business models under RBI lens: Shaktikanta Das
Boards' role in challenging management proposal critical: Das
 "Banks' strategies, business models under RBI lens: Shaktikanta Das")