Page 569 - Finance News

Bank of Maharashtra slashes MCLR by up to 20 bps for select tenors

Besides MCLR, the bank has also cut its interest rate on gold loans offered to farmers and retail customers

UBS Principal Capital Asia sells shares worth Rs 150 cr in Axis Bank

A total of 3.5 million scrips of the private sector lender were sold at an average price of Rs 428.7 apiece, valuing the deal at Rs 150 crore, according to block deal data on the BSE

UCO Bank reduces MCLR by 10 bps across tenors, effective August 10

The revised one-year MCLR stands at 7.40 per cent as against 7.50 per cent earlier, the bank said

RBI names three other members in the Kamath committee on loan recast

The committee will also be fully empowered to consult or invite any person it deems fit, and can devise its own procedures for its internal functioning, the RBI said

HDFC Bank cuts MCLR by 10 bps across tenors, effective from today

After the rate reduction, its overnight MCLR stands reduced to 7%, while one-month MCLR is 7.05%, according to the HDFC Bank website

Monetary policy: RBI lends helping hand to distressed retail borrowers

Under the scheme, a resolution plan for personal loans may be invoked till December 31 and will be implemented within 90 days thereafter

HDFC Bank's delayed reports to draw in Indian regulator

The local unit of Experian Plc told RBI in July that HDFC Bank has been late in providing details of its loans

RBI to set up innovation hub for financial inclusion, efficient banking

The hub aims to bring solutions to the financial sector by tapping into areas such as cybersecurity, data analytics, delivery platforms, and payment services

Start-ups to get priority sector tag as RBI revises lending norms

It intends to align them with emerging national priorities and bring a sharper focus to inclusive development

RBI cuts capital charge on banks' investments in debt MF schemes

RBI has reduced the capital charge for investing in such schemes

Monetary policy: RBI measures preserved financial stability, says Das

The RBI's monetary policy committee has kept the repo rate unchanged at 4 per cent, amid rising inflationary pressure and a grim economic outlook

Loan restructuring may only provide short-term respite to lenders

The measures will lower credit cost to some extent, but analysts are sceptical of asset quality of such loans

Regulatory caps on bank guarantees boost demand for fixed deposit receipts

Arrangements between brokers and banks have come under Sebi, RBI lens over potential risks

RBI allows offline payments of up to Rs 200 through cards on pilot basis

The scheme is aimed at encouraging customers to opt for digital payments even in those places where the internet connectivity is poor

Monetary policy: Taming Covid-19 key to soften GDP fall, says RBI

High consumer inflation likely till September

RBI hits pause button on monetary policy, applies balm on Covid-19 wounds

Decides to use future rate cuts "judiciously to maximise beneficial effects", gifts India Inc and individuals loan restructuring to ease pandemic-induced stress

RBI governor announces 'positive pay' feature to help avert cheque frauds

Under the 'positive pay' system, a customer who issues the cheque clicks a picture of the cheque before handing it over to the beneficiary and uploads the same on the bank's mobile application

No current accounts for clients with cash credit, overdraft facilities: RBI

In a notification, the central bank said that rather than opening a new current account, all transactions should be routed through Cash Credit (CC) or OverDraft (OD) account

IDBI Bank inks pact to divest 27% stake in insurance JV for Rs 595 cr

Currently, LIC-promoted IDBI Bank holds 48 per cent in IFLIC, while Federal Bank and Ageas hold 26 per cent each

RBI to set up 'Innovation Hub' for financial inclusion, efficient banking

The Hub will act as a centre for ideation and incubation of new capabilities