June 2018 ~ General-Wiki

RBI has capped lending rates of NBFC-MFIs at 10% over their cost of funds or 2.75 times the average base rate of five large banks, whichever...

Arijit Basu to be State Bank of India's new Managing Director

A graduate in Economics and a Master of Arts in History, Basu has held several key positions in State Bank of India. from Banking/Finance-...

ICICI Bank probes 31 loan accounts on whistleblower complaint

The largest private sector lender said that it received anonymous complaint against the treatment of these 31 accounts in March. from Bank...

Nothing unusal, says bank; 1.6 lakh deposited Rs 746-crore banned notes, says NABARD

NABARD also said of the total number of accounts with ADCB, only 0.09 percent comprised accounts with deposits of more than Rs 2.5 lakh. f...

Bank of Baroda goes to CBI with loan fraud charges against PSL Ltd

Pipe maker PSL Ltd stands accused of siphoning off Rs 700 crore from a dedicated account linked to GAIL projects, payments for which due to ...

Microfinance loan cap raised to Rs 80000 per borrower

Private banks such as IndusInd, IDFC and RBL are increasing their exposure to the bottom of the pyramid customers while industrial credit de...

RBI to FinMin: Feb 12 circular gives enough space for resolution of bad loans

During the meeting association of power producers (APP) and independent power producers association of India (IPPAI) were present and made t...

Karnataka Bank earmarks Rs 2900 Cr for export sector

India’s exports will rise in 2018-19 spurred by positive global economic outlook, according to Karnataka Bank Managing Director M.S.Mahabale...

Bank with Amit Shah as a director collected highest amount of banned notes among DCCBs: RTI reply

The Ahmedabad District Cooperative Bank secured deposits of Rs 745.59 cr of the spiked notes in just five days after PM Modi made the demone...

View: Crisis of confidence in banking system provides an opportunity to unleash reforms

Current developments point towards a pandemic problem ailing the Indian banking sector, which cannot be resolved with quick-fix solutions. ...

AIIB ready to pump in $1.9 bn more into the country

The country, the second largest shareholder in the Beijing-headquartered lender, is already the largest borrower accounting for commitments ...

B Sriram, MD of SBI to take additional charge of IDBI Bank, Jain to take charge at RBI soon

M K Jain will be the fourth DG at the central bank. The post has been vacant since july 2017 after S S Mundra completed his term. from Ban...

Bank of Maharashtra CEO, executive director held for role in Rs 3,000 crore DSK Group default case

Pune-based builder DS Kulkarni and his wife Hemanti who were arrested in February this year are accused of cheating over 4,000 investors of ...

18,000 bank branches, post offices have Aadhaar facility now: UIDAI

UIDAI had in July last year asked private as well as public sector banks to set up Aadhaar facility in at least one out of 10 branches. fr...

ICICI Bank reshuffle has left many questions unanswered: Jefferies India

In a report on Tuesday, brokerage Jefferies India has called Bakshi’s appointment as temporary and questioned the board's wisdom to have...

RBI revises upwards housing loan limits under priority sector

The loans disbursed under the priority sector lending category are cheaper than the market interest rate. from Banking/Finance-Industry-Th...

Chanda Kochhar's confidante N S Kannan to head ICICI's life insurance venture

Kannan has served as the chief financial officer of the bank for 5 years, a position he took over from current chief Kocchar when she moved ...

PSBs to now work in a team to solve the bad loan problem: Piyush Goyal

"Banks will have a creditors agreement among themselves to iron out problems related to consortium banking," Finance Minister said...

From trainee to Padma Bhushan to forced leave: The rise and fall of Chanda Kochhar

Kochhar has had a dream career. In 1984, when she joined ICICI as a management trainee, no one would have imagined she would become MD &...

This PSU banker is being considered for Axis Bank top job

Jayakumar, 56, joined BoB on October 2015 and was heading VBHC Value Homes prior to taking charge of the lender. from Banking/Finance-Indu...

View: Mirror, mirror on the wall, who is the real ICICI Bank boss?

The board saved face when it said Kochhar will be on leave. A change of guard required to instill confidence in the fairness of the probe is...

Led by private sector lenders, bank credit up 3.4% in Dec quarter

At the end of the December quarter, bank credit stood at Rs 80.62 trillion compared to Rs 77.95 trillion in the September 2017 quarter, as p...

Chanda Kochhar to go on leave till completion of enquiry: ICICI Bank board

The bank has appointed Sandeep Bakshi of ICICI Prudential as its interim Chief Operating officer, the board decided. Meanwhile, Chanda kochh...

NBFCs face higher borrowing costs, narrower funding options in FY19

Banks’ funding to NBFCs increased 27% during FY2018, while the banking system credit growth remained muted at 8% for the period. from Bank...

Indians face 25% higher risks to financial fraud: Report

Electronics and travel marketers are positively building consumer data and driving transactions, however, these segments are also more prone...

Government panel selects 22 general managers for ED post at PSU Banks, four from PNB

The newly formed panel has selected four general managers (GM) of Punjab National Bank and three from Vijaya Bank. from Banking/Finance-In...

What is Mutual funds?

Hi guys, We are talking about mutual funds. Use your money to grow your money. A mutual fund is a professionally managed investme...

BBB recommends 22 GMs for elevation as executive directors at PSU banks

Banks Board Bureau said the panel have recommended to the Govt. of India 22 general managers for elevation as executive directors in public ...

Almost 1 million people 'testing' WhatsApp payments service in India

Almost one million people in India are "testing" WhatsApp's payments service, and the company is working with the Indian gover...

Revealed: How technology helped PolicyBazaar achieve 100% y-o-y growth

June 15, 2018

The urge to reinvent himself and seek out new challenges got him a plum position at PolicyBazaar, where as the CTO and CPO, he heads all thi...

HDFC Bank: Capital infusion to aid semi-urban, rural play

June 14, 2018

The bank said it had to get the go ahead from the CCEA as this was an FDI proposal in excess of Rs 5,000 crore not under the automatic route...

Private sector banks to wean away share from PSU lenders: Kotak Mahindra

June 14, 2018

The bank further said that it is on course to double its customer base to 16 million by September this year. from Banking/Finance-Industry...

Why the idea of a bad bank may not work for resolution of NPAs

The interim finance minister, Piyush Goyal, announced the formation of a committee to give recommendations on formation of an ARC for resolv...

Life insurers new premium collection grows 9 per cent in May

New business premium of Life Insurance Corporation of India (LIC), the largest and the only state-owned life insurer, expanded by 9.49 per c...

HDFC 5th biggest consumer financial services company globally: Forbes

American Express has topped this category, while Indiabulls Housing Finance is the only other Indian company (at 13th place) on the list. ...

Geo VPL Finance targets AUM of Rs 250 crore in 5 years

The company, currently focusing more on gold finance, will strengthen its presence in other segments like vehicle loans and housing loans. ...

Hong Kong regulator enhances supervision of PNB's HK branch

PNB said the Hong Kong Monetary Authority (HKMA) has enhanced supervision of its Hong Kong branch and has asked it "not to proactively ...

PNB, SBI, 13 others get Moody's counterparty risk ratings

Others who got the ratings include ICICI Bank, Axis Bank, Bank of Baroda and HDFC Bank, among others. from Banking/Finance-Industry-The Ec...

SBI sees mobile banking transactions at 3,360 lakh in FY19

In FY18, the number of its mobile banking transactions stood at 2,706, with a total volume of Rs 6,00,502 crore. from Banking/Finance-Indu...

Hong Kong regulator increases supervision on Allahabad Bank branch

Allahabad Bank on Tuesday said the Hong Kong Monetary Authority) has enhanced supervisory arrangements on its Hong Kong branch. from Banki...

Adjustment of Religare Finvest's over Rs 790 crore deposits legal: Lakshmi Vilas Bank

The bank, in its financial statement for 2017-18 had informed about adjustment of third party deposits of over Rs 790 crore. from Banking/...

Bank staff threaten to intensify stir in July, August

The United Forum of Bank Unions today threatened to intensify their stir in July and August against the 'meagre' two per cent salary...

RBI governor appears before Parliamentary panel; assures steps to strengthen banking system

Sources present at the meeting of the Parliamentary Standing Committee on Finance said the RBI Governor expressed confidence of tiding over ...

Videocon Industries blames PM Modi, Supreme Court & Brazil for bad debt pile

Ina BSE filing, the Indian TV maker alleged the cash clampdown in November 2016 choked its supplies and forced Videocon to shut business. ...

No specific communication received from US SEC: ICICI Bank

According to sources, the SEC has received complaints from institutional investors in the US to look into the matter related to corporate go...

Coming years challenging for banks, need to look beyond NPAs: SBI

The largest lender of the country suffered a net loss of Rs 6,547.45 crore in 2017-18, as against a net profit of Rs 10,484.1 crore in the p...

Allahabad Bank referred 65 accounts to NCLT

The bank said in its annual report that the it was focusing on recovery and rebalancing loan book with emphasis on small, micro, agriculture...

How IDFC Bank's COO Avtar Monga is leveraging digital to redefine the boundaries of banking