Page 698 - Finance News

RBI fines 36 state, private banks for non-compliance in SWIFT operations

The penalties, ranging from Rs 1 crore to Rs 4 crore, were imposed by orders dated January 31, 2019, and February 25, 2019, the RBI said in a statement.

SBI links pricing of loans, deposits to repo rate; new rate effective May 1

The move will to a large extent speed up the monetary transmission process

Rating agencies have a critical role in financial sector: RBI governor

Das Thursday held a meeting with top officials of credit rating agencies as part of stakeholder consultation exercise

White label ATM operators allowed to buy wholesale cash directly from RBI

The RBI also permitted WLA operators to source cash from any bank, including cooperatives and regional rural banks

BoB, Dena, Vijaya Bank merger could open Rs 1,000 cr IT outsourcing window

Global majors IBM and Accenture set to compete with existing vendors Infosys and HP for deal to integrate different technology stacks used by these PSU lenders

In a first, govt set to issue Rs 20 coin as a 12-edged polygon: FinMin

The exact date of issuance of these new series coins is yet to be announced

Banks want RBI to defer IndAS roll-out over higher loan-loss provisioning

Banks would be required to prepare financial statements for the financial year beginning April 2019 as well as for the previous year for comparative purpose under IndAS

Exim Bank raises $500 million by issuing bonds, proceeds to support exports

Exim Bank said the bonds were distributed 87% in Asia and 13% in Europe and offshore US

DHFL did not promote any shell companies, says audit report

The independent audit report is on 39 of the 64 allegations levelled against the housing finance company by a news agency

NBFCs face new governance, exposure code: From licensing to CEO package

RBI wants to snuff out evergreening, stock-play via bank-led units; risk-based supervision on cards

NBFCs looking at offshore funds to diversify borrowing sources

The relaxation in the ECBs and masala bonds norms has made it attractive for the NBFCs and HFCs to tap into the offshore credit market for funds

RBI to infuse Rs 12,500 crore into financial system through OMOs

The decision is based on an assessment of liquidity conditions and also of durable liquidity needs, it added

RBI fines ICICI, SBI and 17 other banks for non-compliance on SWIFT use

The RBI imposed the fines over the past four days, according to stock exchange filings by the banks, though specifics of the non-compliance were not disclosed

RBI to buy govt securities via OMO for Rs 12,500 crore on Thursday

The decision on OMO is based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward

Bank of Baroda cuts lending rate by 10 basis points; loans to be cheaper

The new rates are effective from March 7

RBI slaps Rs 1-cr fine on Yes Bank for non-compliance in Swift operations

Post the PNB fraud, which came to light in February 2018, the RBI has been tough on banks to tighten all kinds of transactions

A few banks, NBFCs find market favour as funding pressure recedes

Asset quality improvement, receding funding pressure boost confidence, with 14 stocks trading near 52-week high

RBI's NBFC risk-weight move to carve Rs 1.4 trn for bank credit: Crisil

Of this, banks could deploy a portion towards higher rated NBFCs given the lower risk weight for these entities

RBI slaps Rs 11-cr fine on 4 banks for non-compliance in Swift operations

Swift is the global messaging software used for transactions by the financial entities

Central Bank puts stressed accounts of Bhushan Power, Essar Steel on sale

Bhushan Power & Steel has an outstanding of Rs 1,550.07 crore towards the bank. Alok Industries owes Rs 1,251 crore, Essar Steel India Rs 423.61 crore