Page 636 - Finance News

RBI allows use of UPI and other non-bank payment methods to link FASTags

Move to boost NETC, foster competition among system participants; turnaround time for resolving failed transactions will be applicable to the transactions carried out in the NETC system

RBI wants urban cooperative banks to focus mainly on priority sector

UCBs' target for priority-sector lending has been proposed at 75 per cent of their credit from 40 per cent now

10-year bond yields rise on RBI's special open market operations

Interestingly, instead of the 10-year bond yields coming down, it increased about 5 basis points to close at 6.55% after the OMO

IFIN reports net loss of Rs 13,272 cr in FY19, net revenue down by 87.22%

96% of loans disbursed are non-performing

Banks to levy Rs 150 after 4 cash transactions, Twitter users say not fair

This move being considered as a move to discourage cash transactions and encourage digital payments

RBI buys Rs 10,000 cr worth long-term govt securities in second special OMO

The RBI had announced to purchase and sell simultaneously government securities under Open Market Operations (OMO) for Rs 10,000 crore each, last week

Year in Review: Banking sector bets on reforms, mergers for revival

"Every fundamentals indicate towards higher growth and better future next year," Finance Secretary Rajiv Kumar told PTI, reflecting strong optimism going into 2020

Home loan EMIs to reduce as SBI cuts external benchmark rate by 25 bps

The new rates will be applicable from January 1, 2020

Deposit Insurance Corporation sees Rs 14,100-cr claims amid PMC crisis

The scam came out in September after an insider whistleblower approached the Reserve Bank of India (RBI) forcing it to supersede the bank's management and put it under an administrator

Finance organisations must focus on risk, governance to be future-ready

Automation also needs to be accompanied by a transformation of skills and talent to enable the finance function to take on the more value-added activities

Top 50 corporates reduce debt by about Rs 60,000 cr in first half of FY20

In the last financial year 2018-19, sources said, these companies had reduced their debt burden by about Rs 43,000 crore

HFCs' share in realty loans doubles to Rs 2.01 trillion since 2016: RBI

Over the past four years, total financing to real estate companies nearly doubled to Rs 2.01 trillion, shows the FSR released on Friday

RBI inspection report of scam-hit PMC Bank yet to be finalised: RTI

The RBI declined to give copies of two complaints received by it regarding 'irregularities' in the bank and the action taken on them

RBI blasts credit rating agencies for allowing 'rating shopping'

Rating shopping refers to how, a company or a debt paper manages to get same or better rating from another agency within three months of it getting a poor rating

Digital banking initiatives of PSBs under merger likely to be delayed

According to officials, integration of core banking systems may take 12-18 months

FM directs CBI to use director identification number in notices to bankers

PSBs may report fraud through e-filing of FIRs on a designated email address of CBI

RBI proposes using equity price movements to signal corporate stress

Apex bank's FSR report says equity prices may also be used to determine 'intermediate' rating action, but advises caution about the extent such use

Banks needn't fear the 'three Cs' of investigation: FM Sitharaman

Sitharaman said bankers have no reason to fear the "three Cs", referring to the Central Bureau of Investigation (CBI), Central Vigilance Commission, and Comptroller and Auditor General

Govt's reform measures restored PSBs to health, 13 banks posted profits: FM

It said that PSBs have attached assets worth over Rs 2.3 lakh crore over the last three financial years

RBI's G-sec purchases under 'operation twist' a comforting factor for PSBs

The fall in 10-year G-Sec yields is estimated to benefit state-owned banks by Rs 5,760 crore; Nifty PSU Bank rises 3%