Page 724 - Finance News

Consumers using third-party payment apps much more than bank: Survey

The survey found that consumers in China, India and Latin America are more open to banking with technology firms than others, while millennial in almost every country are open to this

NBFCs flags issue of banks overcharging for funds to Shaktikanta Das

RBI governor has been holding consultations with various stakeholders in the financial sector after taking charge in December 2018

Your credit card just got safer: RBI allows networks to offer tokenisation

The mechanism offers an additional layer of security as it masks sensitive card data such as the 16-digit account number, expiration date and security code

MSME borrowers taking multiple loans may become a headache for lenders

Loan defaults rise in three years; finance companies becoming vulnerable

For these 5 failures of fiscal policy, the Modi govt can't blame RBI

The most obvious is the goods and services tax (GST)

RBI sets up panel under Nandan Nilekani to boost digital payments

The committee will review the state of digitisation of payments in the country, identify gaps and how to bridge these

RBI asks banks to treat crisis-hit IL&FS loans as non-performing assets

The non-payment of dues beyond 90 days would force the banks to treat their exposure as a non-performing assets

Not going to give more powers to RBI to deal with public sector banks: Govt

Govt informed Rajya Sabha that no proposal with regard to change in the RBI's powers with respect to public sector banks was under consideration

RBI issues guidelines on use of tokenisation to make card payments safer

At present, tokenised card transaction facility would be offered through mobile phones or tablets only and will be extended to other devices later based on experience, says RBI

Some banks affected as employees support 2-day strike call by trade unions

The operation in SBI and private sector banks remained unaffected as other seven unions in the banking sector are not part of the strike.

Jalan panel holds 1st meeting to examine reserve amount of Reserve Bank

The government and RBI under previous governor Urjit Patel had been at loggerheads over the Rs 9.6 trillion surplus capital with the central bank

10% quota for poor in general category: Rao failed, will Modi succeed?

Govt will have to amend the Constitution to bypass SC order

Bandhan Bank buys Gruh Finance; promoter stake in bank to reduce to 61%

After the merger, HDFC will have about a 15 per cent stake in the Bandhan Bank, this is more than what RBI's rules permit investor to hold stake in bank

Cash-starved NBFCs, HFCs raise Rs 73,000 cr in Q3 by securitising SME loans

Domestic securitisation market volumes touched all-time high of Rs 1.44 trn during the nine months to December 2018, as compared to Rs 84,000 crore for the entire fiscal 2018

RBI says it's open to liquidity needs, ahead of meeting with shadow bankers

Das says the RBI constantly monitors liquidity conditions and would take steps to address any deficit in the banking system

Won't like banking system to be in a situation of loose money: RBI Governor

RBI will take steps if there's liquidity shortage, said Shaktikanta Das

With many employees set to retire, Parl panel asks PSBs to step up hiring

The committee has also made a case for more incentives and a better remuneration package for senior management of PSBs

PSU banks plan rationalisation of another 69 overseas offices in 5 months

As on January 31, 2018, PSBs had about 165 overseas branches, besides subsidiaries, joint ventures and representative offices

Exim Bank eyes Japanese mkt for fund raising as other avenues turn costly

Following roadshow in December 2018, it may come out with bond issues based on market conditions in January-February 2019; Looks to fund projects in EMs like Africa, Bangladesh

2 bank unions to go on strike on Jan 8-9 over govt's anti-worker policy

The All India Bank Employees Association and Bank Employees Federation of India has informed the Indian Banks' Association of the two-day nationwide strike