Page 725 - Finance News
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
 "Not going to give more powers to RBI to deal with public sector banks: Govt")
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
 "RBI issues guidelines on use of tokenisation to make card payments safer")
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.
 "Some banks affected as employees support 2-day strike call by trade unions")
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
 "Jalan panel holds 1st meeting to examine reserve amount of Reserve Bank")
10% quota for poor in general category: Rao failed, will Modi succeed?
Govt will have to amend the Constitution to bypass SC order
 "10% quota for poor in general category: Rao failed, will Modi succeed?")
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
 "Bandhan Bank buys Gruh Finance; promoter stake in bank to reduce to 61%")
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
 "Cash-starved NBFCs, HFCs raise Rs 73,000 cr in Q3 by securitising SME loans")
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
 "RBI says it's open to liquidity needs, ahead of meeting with shadow bankers")
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
 "Won't like banking system to be in a situation of loose money: RBI Governor")
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
 "With many employees set to retire, Parl panel asks PSBs to step up hiring")
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
 "PSU banks plan rationalisation of another 69 overseas offices in 5 months")
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
 "Exim Bank eyes Japanese mkt for fund raising as other avenues turn costly")
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
 "2 bank unions to go on strike on Jan 8-9 over govt's anti-worker policy")
Dues owed by wilful defaulters to PSBs double to Rs 1.5 trn in under 3 yrs
A fourth of the total amount was owed by these defaulters to SBI on September 30, 2018
 "Dues owed by wilful defaulters to PSBs double to Rs 1.5 trn in under 3 yrs")
PNB didn't misappropriate pension, gratuity funds, says Arun Jaitley
PNB has informed that these funds are duly audited by the bank's statutory central auditors every year, said Jaitley
 "PNB didn't misappropriate pension, gratuity funds, says Arun Jaitley")
Order allowing ED to attach firm's property mortgaged with PNB set aside
The PNB had approached the tribunal challenging the adjudicating authority's order allowing the ED to attach the company's properties mortagaged with the bank
No decision yet on further printing of Rs 2,000 notes: DEA Secretary Garg
There has been no recent decision regarding 2,000 rupee note production, says Garg
 "No decision yet on further printing of Rs 2,000 notes: DEA Secretary Garg")
RBI's decision to allow loan restructuring may hurt credit culture: Fitch
The move has been roundly criticized by most analysts, and many fear the culture of forbearance is back and could lead to more problems in India's struggling banking sector
Explained: What was the need to merge Vijaya, Dena Bank with Bank of Baroda
The merged entity will become India's third largest bank after SBI and HDFC Bank
 "Explained: What was the need to merge Vijaya, Dena Bank with Bank of Baroda")
Sebi issues another show-cause notice to NSEL brokers in 2013 scam probe
Motilal Oswal Financial Services, Anand Rathi Shares and Stockbrokers Ltd. and India Infoline among companies served notice
 "Sebi issues another show-cause notice to NSEL brokers in 2013 scam probe")