Page 534 - Finance News

Faced with high growth in traffic, banks to ramp up digital capabilities

They will soon take a call on tech spending

We could be on the cusp of banking 2.0

The last couple of years saw the RBI taking up the sheet anchor role to steer the economy. The accommodative interest-rate stance implies that it is ready to walk the extra mile to bolster the economy

CAG writes to Finmin, seeks performance audits of PSU bank recapitalisation

The Government of India made capital infusion to the tune of Rs 90,000 crore in 2017-18. This rose to Rs 1.06 trillion in the following year

RBI constructs index to capture digital payments penetration in country

RBI has constructed a composite digital payments index (DPI) with March 2018 as the base period to capture the extent of digitisation of payments across the country

Indian banks' loans rose 6.1% in two weeks to Dec 18, shows RBI data

Outstanding loans rose 518.61 billion rupees ($7.09 billion) to 105.50 trillion rupees in the two weeks to Dec. 18

CCPA seeks RBI intervention on banks delaying refund when transactions fail

Newly set up consumer protection regulator CCPA has flagged this issue to the RBI seeking its intervention to ensure banks reverse such money on time

Rupee becomes worst-performing Asian currency; bonds rally in 2020

Rupee has depreciated 2.3 per cent in this calendar year

HDB Financial Services plans to raise Rs 7,500 crore through NCDs

The finance company has seen business growing at a good pace over the past few years

RBI to conduct simultaneous sale-purchase of govt securities next week

The decision was taken after a review of current liquidity and financial conditions, the Reserve Bank said in a statement

Retail lending by banks shrinks sequentially in November, up 10% YoY

Within this space, vehicle loans continued to perform well, growing at an accelerated 10% this November, compared to 4.7% a year ago, RBI said in statement

IDBI Bank sells 23% stake in life insurance JV to Belgian partner

LIC-controlled IDBI Bank on Thursday said it has sold 23 per cent stake in life insurance venture to foreign partner Ageas for Rs 507 crore

Post Office Savings Bank may be interconnected with other banks by April

India Post expects to make the Post Office Savings Bank interoperable with other bank accounts by April and will focus on enhancing digitisation of all services in 2021

Kerala-based South Indian Bank announces 6Cs strategy for Vision 2024

While current growth trends remain muted due to the Covid-19 pandemic, the bank is optimistic of a revival in growth from Q1FY22 onwards

With RBI harping on increased supervision, frauds decline in banking system

The recent collapse of PMC Bank due to fraud and deficient corporate governance "has dented public confidence in UCBs"

Explained: Why cryptos are gaining currency globally amid bitcoin rally

Investors, including large corporations, view them as a potential hedge against uncertainty, and mainstream investment banks too are jumping into the game

Financial stability report delayed as govt wants to 'consult' RBI

Different stance on NPAs will be the discussion point; report was slated to release on Wednesday

Just 2.1% of TLTRO funds went to NBFCs that needed them most: RBI report

Whole idea of launching TLTRO funds was to provide system level and targeted liquidity to sectors with liquidity constraints--something banks clearly did not do, shows Trend and Progress Report

Yes Bank elevates Niranjan Banodkar as CFO, Adlakha as HR head

Yes Bank was rescued by the Reserve Bank of India in March

Union Bank gets shareholder approval to raise up to Rs 6,800 crore

Shareholders of Union Bank of India approved the bank's proposal for raising up to Rs 6,800 crore equity capital to fund business growth

Ex-Economic Affairs Secy Atanu Chakraborty may be next HDFC Bank chairman

Former Economic Affairs Secretary Atanu Chakraborty is likely to be the next Chairperson of the country's largest private sector lender HDFC Bank, sources said.