Page 19 - Banking

Deposit insurance reforms to instil confidence in people on banking: PM

At Vigyan Bhawan, the Prime Minister said banks play an important role in the progress of any nation

Bank of Maharashtra lowers home loan rate to all-time low of 6.4%

The new rates would be effective from December 13, it said

Ujjivan SFB raises interest rates by 50-75 bps on FDs up to Rs 2 crore

For depositors aged under 60, the bank is offering 6.5% for a 12 months tenure, and 6.6% for 19-24 months; seniors get an additional 75 bps across tenures

Brazil's Nubank raises $2.6 billion in top-of-range US IPO

Nubank warned investors to brace for "short-term profit implications" from the firm's expansion push

Digital banking push turned into pull factor: Former SBI Chairman

Digitisation of banking services in India, which started as a "push", has now turned into a "pull" factor, State Bank of India's ex-Chairman Rajnish Kumar said

Measures taken to protect bona fide commercial decision of banks: FM

This is to alleviate the fear of any unwarranted hardships to officials or senior executives taking key decisions: FM

RBI imposes curbs on Nagar Urban Co-op Bank, caps withdrawals at Rs 10,000

The restrictions, imposed through directions under the Banking Regulation Act (as applicable to co-operative societies), 1949, shall remain in force for a period of six months

Over 55% Jan Dhan account holders are women: Finance Ministry

There is no requirement to maintain any minimum balance in PMJDY accounts

Citigroup applies for China securities license, to hire 100: WSJ report

The bank recently submitted its application to the China Securities and Regulatory Commission, says report.

Rs 26,697 cr lying in dormant accounts of banks: FM Sitharaman

This money is lying in nearly 9 crore accounts which have not been operated for 10 years

Governance, transparency in Indian banks weak by global standards: S&P

The lack of improvement in risk management and corporate governance in the coming growth cycle could produce a new crop of sour loans, the rating agency said

Australia's banking watchdog publishes long-awaited capital rules

Following four years of consultation, the new Basel III-aligned set of standards change the models used by banks to work out how much capital they need to hold, and will come into effect in 2023

Stable banking

Mixing financial and industrial power should be avoided

Very encouraging that RBI accepted 21 recommendations out of 33: IWG member

RBI internal group member hopes that banking licence for corporates would come in future

RBI panel for higher cap on promoter stake in pvt banks at 26% after 15 yrs

According to the RBI's current norms, a promoter of a private bank needs to pare holdings to 20 per cent within 10 years, and to 15 per cent within 15 years

RBI releases recommendations of IWG on ownership guidelines for pvt banks

RBI says 21 of total 33 recommendations of the Internal Working Group have been accepted

Govt to amend banking laws to facilitate privatisation of two PSU banks

The Finance minister while presenting Budget 2021-22 earlier this year had announced the privatisation of PSBs as part of disinvestment drive

Singapore central bank weighs action over DBS service glitch

The issues stemmed from the bank's access control servers, resulting in customers' inability to log in to the services

Best of BS Opinion: Strengthening financial sector, no solution yet & more

Here is the best of Business Standard's opinion pieces for Friday

RBI working group warns on digital lending by big tech players

The working group has recommended the formation of a nodal agency & SRO for digital lending apps