Finance News - Page 16

How populism, muted agri growth are laying a farm loan trap for banks

Relying on bank funding alone to fund India's farmers and forcing annual targets on them may not be a prudent idea

FinMin framing incentive scheme for bankers to push Jan Dhan Yojana

The first phase of Pradhan Mantri Jan Dhan Yojana (PMJDY) is scheduled to be completed by January 26, 2015, as against original plan of August 15, 2015.<br />

NABARD launches Rs 5,000 cr fund to push agri investments

NABARD will be refinancing agricultural term loans extended by the cooperative banks and regions rural banks (RRB) to agriculturists.

Here's how Modi's Jan Dhan Yojana is boosting RuPay payment network

Started in 2012 by a company owned by 10 local and foreign banks, RuPay competes with global payment firms Visa Inc and MasterCard Inc for the few customers in Asia's third largest economy able to afford a debit or credit card.<br />

Yet to hear from UK banking regulator on subsidiarisation: SBI

The British operations are one of the largest for SBI's overseas business with seven branches. SBI nets 18 per cent of its total business from its vast overseas operations and it is looking at taking this to 25 per cent over the next three years.<br />

Wilful defaulters: RBI just ended the free lunch for crony capitalists

India Inc built businesses using bank funds and with very little of their own money at stake. The new norms on wilful defaults will end this game for crony capitalists.

Saradha scam: IPS officer turned TMC leader arrested, hospitalised soon after

The CBI on Tuesday arrested a leader of West Bengal's ruling Trinamool Congress and former director general of the state armed police Rajat Majumdar in connection with the multi-crore-rupee Saradha chit fund scam.

Trouble mounts for Vijay Mallya: Now SBI slaps wilful defaulter notice on KFA

SBI, which is the lead bank of a lender consortium to the crippled carrier, has an exposure of over Rs 1,600 crore

Coal verdict: SBI dumps exposure estimates, sees no big hit even if all blocks cancelled

SBI has only around Rs 4,000 crore at risk if all the 218 blocks are cancelled

Even guarantors will be tagged as wilful defaulter if obligations not met: RBI

Elaborating, RBI said where a banker has made a claim on the guarantor on account of the default made by the principal debtor, the liability of the guarantor is immediate.<br />

MF assets rise by 6,300 cr to Rs 10.12 lakh cr in August

The rise in AUM during August was primarily due to inflows in equity funds, which was eventually helped by a strong stock market.<br />

Stock market regulation: Even Pak and China rank higher than India, shows WEF report

Indian capital markets may be riding high on positive investor sentiments, but the latest report by World Economic Forum (WEF) shows that the country has plunged 35 places to 62nd rank in terms of effective regulation of the stock exchanges.<br />

The question Saradha raises: Are India's poor unknowingly funding terror outfits?

The bigger concern is where did all the money raised by Saharas and PACLs - by defrauding the poor - go

Inflation to bad loans: Raghuram Rajan has many battles to fight

There was a mountain of expectations built around Rajan. One year down the line, it looks like he indeed had a magic wand

Govt, RBI to devise inflation-focussed monetary framework, says Raghuram Rajan

The government and the Reserve Bank of India will this year negotiate to formulate a monetary framework for the central bank that lays more emphasis on inflation, the bank's Governor Raghuram Rajan has said.

Gross NPAs of PSU banks to be about 4.4% in FY15: ICRA

PSU banks' gross NPAs are to be at 4.4-4.7 per cent as on March 31, 2015, as against 4.4 per cent as on March 31, 2014 and 4.6 per cent as on June 30, 2014, said the ICRA report.<br />

Clampdown on Mallya is just the start: More Kingfishers will fly out of the nest

Banking system is the backbone and a proxy to the economy, hence damages caused to it can have serious ramifications on the overall economic stability as well.<br />

RBI allows overseas lenders to give rupee loans to Indian companies

The RBI further said for lending in rupees, the lender would have to follow certain conditions, including currency swaps with authorised banks.<br />

Oriental Bank cuts interest rate on home loan by 0.5%

The bank has reduced the interest rates on home loans of above Rs 75 lakh by 0.5 per cent from 10.75 per cent to 10.25 per cent, OBC said in a statement.<br />

Kingfisher fallout: Finmin asks RBI to tighten lending, monitoring norms

Finance Ministry has asked the Reserve Bank to tighten lending norms to prevent borrowers from opening multiple current account outside their consortium banks.

Govt prepares 4-yr blueprint for fund infusions in state-run banks

The fund infusion in public banks is likely to depend on the extent of equity dilution by government.

Set timelines to process loans proposals: RBI tells banks

RBI also asked banks to make suitable disclosures about timelines by conveying credit decisions through their websites

MFs buy shares worth Rs 6,000 cr in August, highest monthly inflow in 6.5 yrs

The inflow in equities during the month followed net investment of Rs. 5,000 crore in July, Rs. 3,340 crore in June and Rs. 105 crore in May.<br />

Sebi, RBI mull fund-raising restraints in battle against wilful defaulters

To tighten the regulatory noose around wilful defaulters, the Reserve Bank has suggested to the Securities and Exchange Board of India that such entities should be prevented from raising funds through capital markets.<br />

Sebi sets 1 year target to complete probes; 221 cases underway

Expressing confidence that the new target would be achieved, the Sebi chief said that the regulator began working on this new system nearly two years ago.<br />

Union Bank of India files caveat in SC against Kingfisher Airlines

UBI had identified Vijay Mallya as a wilfuldefaulter and asked him to appear before the bank's panel tohear him out before declaring him as a wilful defaulter.

RBI may cut policy rates in 2015 even if US Fed hikes rates: BofA-ML

The global brokerage firm believes that there are three main reasons why the RBI is likely to go for a rate-cut even if the Fed hikes rates next year.

Jan Dhan Yojana: Modi's using state-run banks for political mileage

If real objective behind Modi's initiative is to upliftment of the poor through steady progress of financial inclusion, why is he excluding private sector banks from the plan?

Govt notifies Sebi Act: Now more teeth to tackle ponzi schemes

The Securities Laws Amendment Act, which was cleared by Parliament earlier this month and amends all legislations governing capital markets