Page 678 - Finance News

From Panglossian to Floccinaucinihilipilification: RBI msgs get complicated

Central bank watchers are already battling to predict policy makers' next move after the MPC cut interest rates by an unconventional 35 basis points

Why this may be time to thoroughly redesign Indian banking system

Lately, India's banking system has been beset by a bad debt crisis, which is crimping credit to productive sectors, dampening domestic investment and leading to subdued employment and GDP growth

Minutes of MPC meeting: Fixing weak economic growth remains top priority

What is telling is that large swings in the Indian business cycle are still not a thing of the past, despite the adoption of inflation targeting in India

Pro-growth RBI minutes to cap yields; boost hopes of further policy easing

The RBI on August 7 had reduced the benchmark lending rate by 35 basis points to 5.40 per cent amid concerns over slowdown in economy

Number of NBFCs drops to lowest in 10 yrs in India as crackdown accelerates

RBI has also tightened regulations this year by putting in place rules requiring shadow lenders to appoint a chief risk officer and proposing stringent liquidity requirements

Bank unions revise demands, to seek pay rise of 20% at IBA talks

The key reason behind UBFA's revised demand from the 15 per cent earlier is that the gap between what bank employees earn when compared to those in the government's equivalent grade has widened

State Bank of India plans to open nearly 10 lakh YONO Cash Points

The bank has no plans to discontinue debit cards but increased use of the digital platform will itself reduce the requirement of the debit cards, SBI Chairman Rajnish Kumar said

Banks may seek consent before allowing transfer of funds to your account

The move is a follow-up to instances of illicit deposits - after demonetisaton - in bank accounts opened under the Pradhan Mantri Jan-Dhan Yojana

Win for Wall Street as Trump revamps Volcker rule on speculative trading

Regulatory changes provide lenders clearer picture of which trades are prohibited, but critics say they could again endanger the financial system.

Indian banks trail global peers on e-sale capabilities, finds BCG study

Indian banks trail their global peers in three areas: Absence of personalised marketing messages, lack of straight-through processing, and low quality of in-app sales support

RBI to issue new guidelines on salaries of private, foreign bank executives

The new circular also provides for 75% consent by value for a resolution plan to be passed

Prospects of floating lending rate, fixed deposits spook bankers

If the private sector banks don't play ball, there is very little public sector banks can do to make the product a success

Soon, get home and car loans online in 59 minutes from state-run banks

Currently, the portal gives in-principle approval for loans of up to Rs 1 crore to micro, small and medium enterprises in just 59 minutes or less than an hour

Banks Board Bureau invites applications for top posts of 4 big PSU banks

As per the Banks Board Bureau's (BBB) recruitment notice, candidates including from the private sector can apply for the vacancies at the four banks till September 23

IL&FS board seeks NCLT nod to sell wind assets to Orix Corp for Rs 4,800 cr

NCLT directed the IL&FS counsel to file a written submission on Wednesday

Link bulk deposits to repo for better transmission of interest rates: SBI

Reserve Bank of India Governor Shaktikanta Das has stressed the need for the entire banking system to link their loans and deposits pricing to the repo rate prescribed by the central bank

RBI asks banks to resolve stressed assets on time to extract best value

RBI issued the new NPA recognition and resolution guidelines on June 7 after the Supreme Court had in April declared the earlier one issued on February 12, 2018 as ultra vires

Linking loans to repo not the only way for faster transmission: Axis Bank

The comments come at a time when pushing up the sagging economic growth has become the biggest focus for the policymakers

Cash-strapped DHFL makes fresh default on Rs 1,571-crore bond repayments

The defaults pertain to three cases with regard to interest payment on non-convertible debentures and commercial papers (CPs), DHFL said in a regulatory filing

15th Finance Commission may cut number of centrally-sponsored schemes

The Centre, not the Finance Commission, is deciding the evaluation of the schemes and the sub-schemes to be pruned