Page 81 - Banks

RBI lays down guidelines for banks to appoint chief compliance officers

RBI laid down guidelines for appointment of chief compliance officer (CCO) in banks to ensure uniform approach with regard to compliance and risk management culture across the banking industry

RBI debt restructuring scheme to benefit resilient sectors more: Crisil

Crisil said it studied its rated portfolio of more than 8,500 companies after sorting them by rating, sector and moratorium availed

Govt sets up panel to study calls for giving interest relief on bank loans

Three-member committee led by Rajiv Mehrishi to measure impact on economy on the 'waiving of interest and waiving of interest'

SC extends relief on NPAs after govt tells interest issue being looked into

SC extended its order that no account be declared NPA after the Centre said an expert panel is looking into the issue of interest charged by banks on instalments deferred during moratorium period

Banks going to be catalysts for economic revival, says FM Sitharaman

Finance Minister Nirmala Sitharaman on Wednesday said banks are going to be the catalysts for economic revival

Focusing only on retail may not be prudent for banks currently: SBI MD

At a time when the economy is facing challenges, banks should not solely focus on the retail segment as sluggish growth can impact this category of loans, a top banker said

5-8% of overall loans will get restructured under new framework: Icra

Banks and non-bank lenders will restructure up to Rs 10 lakh crore in debt or 8 per cent of outstanding loans under the one-time restructuring scheme announced by RBI, domestic rating agency Icra said

Rising sales numbers not a reflection of ground reality, say auto dealers

Dealers say that with more job cuts and salary reduction, banks and NBFCs have become more cautious

Investors should go beyond banks' headline numbers, dig deeper after recast

While corporate loans shall be restructured, retail and SME loans are at lenders' discretion

Govt pushes state-run banks to step up loans to street vendors: Report

Banks in Madhya Pradesh are scrambling to boost lending to street vendors in a bid to bolster numbers ahead of a visit this week by Prime Minister Narendra Modi

Banks sanction loans of Rs 1.61 trn to MSMEs under credit guarantee scheme

The Finance Ministry on Monday said banks have sanctioned loans of about Rs 161,017 crore under the Rs 3-trn ECLGS for the MSME sector reeling under the slowdown caused by the coronavirus pandemic

Why RBI's priority lending norms may not mean quick relief for start-ups

Banks are building capacity to understand this segment better

Private banks likely to gain market share from state-owners peers: Fitch

Fitch Ratings said private sector banks, with stronger loss-absorption buffers, are likely to gain market share from their state-owned peers in the medium term

Finance Minister asks banks to roll out loan restructuring scheme by Sep 15

Nirmala Sitharaman asked banks, NBFCs to roll out loan restructuring scheme for Covid-related stress by September 15, and provide adequate support to the borrowers following the lifting of moratorium

IT dept launches functionality for banks to check refund filing status

The Income Tax department on Wednesday said it has launched a functionality for scheduled commercial banks to check status of income tax returns filed by entities based on their PAN

Refund charges taken since Jan 1 on UPI, RuPay payments: Tax dept to banks

To encourage digital transactions and move towards a less-cash economy, the government inserted a new provision, Section 269SU, in the Finance Act, 2019

'Banks need to look within': Here's the full text of RBI Governor's speech

He was speaking on the theme "It is Time for Banks to Look Deeply Within: Reorienting Banking Post-Covid"

India needs more banks for financial inclusion: SBI, HDFC Bank leaders

"Consolidation for the sake of consolidation" is not feasible because demand for financial services exceeds supply in the country, said Aditya Puri

Fake notes in circulation fall, but remain significant: RBI annual report

Banks detected 95.4% of fake notes in 2019-20 (April to March), while the remaining 4.6% were detected by Reserve Bank

Most banks see meaningful credit growth recovery only after 18 months

Most banks believe that meaningful credit growth recovery is likely only after 18 months, while near-term uncertainty on asset quality remains, brokerages tracking the development said