Page 878 - Finance News

Taken corrective action to comply with KYC norms: Union Bank on RBI penalty

RBI levied penalties of Rs 2 cr and Rs 1 cr on the bank in 2 separate incidents of non-compliances

Following Mundra's retirement, RBI reallocates deputy governor portfolios

Mundra's other minor portfolios were split among remaining deputy governors

RBI policy tomorrow: Key interest rate expected to be cut by 25 bp

Citing inflation at 5-year low, deceleration in factory output, Assocham requested for rate cut

Bank staff's high targets behind mis-selling of investment products: RBI

Lack of co-ordination between back and front office, impacted customer protection: S S Mundra

Following complaint, RBI fines Union Bank Rs 3 cr for KYC non-compliance

RBI imposed penalty of Rs 2 crore and Rs 1 crore under the provisions of Banking Regulation Act

Deposit-heavy banks to gain most from SBI's savings rate cut to 3.5%

Banks with high deposits also include PNB, HDFC Bank, ICICI Bank, Axis Bank, BoB and Canara Bank

SBI does a first, cuts savings rate to 3.5% on deposits up to Rs 1 cr

50-bps reduction may prompt others to follow

RBI asks banks to enable account number portability

In such cases, the Deputy Governor suggested that the customer "must be compensated immediately"

RBI's Mundra raps banks on customer service

Mundra was addressing bankers at the annual banking ombudsman conference, held on July 25

ICICI Bank pips HDFC Bank as most popular stock for MFs

So far in 2017, shares of HDFC Bank gained 48%, while those of ICICI Bank have added 18%

Small MFIs in Odisha battle credit crunch

MFI remains one of the costliest models of financial inclusion

SBI cuts savings rate by 0.5%; 90% customers to be impacted

SBI's savings bank account base is of around Rs 9 lakh crore

Shriram Transport Finance Q1 net up 20% at Rs 448 cr

Net interest income was up 17% at Rs 1,585 cr

RBI imposes Rs 1 cr penalty on Union Bank of India for KYC non-compliance

Earlier RBI had received a complaint regarding cash withdrawals in some accounts maintained with UBI

HSBC profit rise by 5%, announces $2 billion share buyback

The buyback will take the total of HSBC share buybacks since the second half of 2016 to $5.5 billion

RBI must cut interest rate by at least 25 basis points: Assocham

It made a strong case citing five-year low inflation and deceleration in the factory output

CAG raps govt-owned banks for understating non-performing assets

Govt told to be consistent on capital infusion criteria

Majority of economists see RBI rate cut next week: BS poll

But five of 14 economists say they expect RBI to hit the 'pause' button

NPCI gets RBI go-ahead for Bharat Bill Payment Central Unit

The initiative will provide a major push to digital payments

'Loan waiver, mounting NPAs may force banks to stop lending to agri sector'

Waivers may impact supply of credit as lending to agri sector could dry up, say HDFC's economist