Finance News - Page 9

'Lone ranger' Rajan fights for RBI autonomy amid clamour for interest rate cut

Rajan has been fighting persistent rate cut demands, "schizophrenic" attempts to weaken RBI and even rumours about he being 'kicked up' from the Mint Street high seat

Rajan takes his fight against crony capital further with his 'non-cooperative borrower' tag

The RBI is tightening the screws against crony borrowers who manage to delay repayments and loan recoveries to banks endlessly using chinks in the system

100 new banks in 3-5 years? Don't rule it out with RBI's new payment, small bank norms

The opening up of payment banks and small finance banks to a wide swathe of entrepreneurs will heat up competition for customers and pressure the big banks. Their margins will be under threat

Kotak Mahindra Bank enters general insurance biz

The bank has received the approval from the Reserve Bank of India (RBI) to form a subsidiary to commence this business, the lender said in a release.<br />

Goldman Sachs sees RBI cutting rates by 0.5% starting February

The group now expects the RBI to cut its key lending rate, repo, by 0.5 percentage point beginning February changing its earlier call of status-quo in rates in first half of next calendar year.<br />

Ghost of imprudent lending haunts state-run banks as private banks play safe

Of the 18 banks that have announced earnings so far, the sharpest rise in bad loans have come from three state-run entities-Indian Overseas Bank (IoB), Andhra Bank and Punjab National Bank

Stress on banks' balance sheets a serious threat to Modi's economic revival agenda

It is highly critical for the Modi-government to address the deterioration in the financial health of companies and, in turn, that of banks, if it is serious about what it preaches

RBI governor Rajan wants to curb undue volatility in rupee

The rupee has gained 1.89 percent against the dollar in the month to date

Three reasons why bad loans are a bigger challenge than inflation for RBI

One critical issue Rajan and his colleagues acknowledged but has possibly underestimated is the bad loan scenario in the banking system

RBI monetary policy: Gov Rajan's take on real estate, wilful defaulters and more

The RBI kept its key policy repo rate unchanged at 8.0 percent as widely expected, while expressing concerns about risks to its target to bring consumer inflation down to 6 percent by January 2016.<br />

PSU banks need $37 bn in fresh capital to meet Basel III: Moody's

Basel III raises the minimum required levels for both total tier I capital to 7 per cent and common equity tier I (CETI) capital to 5.5 per cent.

RBI needs to allow small banks to think big if it wants them to succeed

Several companies are planning to apply to become smaller banks, including some among those, which failed to win a banking licence in April.

RBI says final norms for on tap bank licences will be out this fiscal

Final guidelines for on tap universal banking licences will be issued in the current fiscal, Reserve Bank Deputy Governor R Gandhi said.

RBI may issue final norms on small, payments banks in 2-3 months

Draft guidelines for small and payments banks were issued by the RBI in July and comments were invited till August 28.<br />

Indian Overseas Bank covers six villages under Jan Dhan Yojana

The main features of the Jan Dhan Yojana include a Rs 5,000 overdraft facility for Aadhar-linked accounts and a RuPay Debit Card with an in-built Rs 1 lakh accident insurance cover.<br />

100 days of Modi govt: Jan Dhan is a hurried revolution in banking; it could backfire

There is always a danger in offering freebies and if not handled properly, the yojana could be a major mistake in Modi's prime ministership

United Bank's wilful defaulter tag is the final nail in Kingfisher Airlines' coffin

Once the company is given the tag of a wilful defaulter, neither the firm nor its promoters, can ever go back to banks or other financial institutions in that country to seek another loan.

PSU disinvestment: It's time for Jaitley to take his hands out of LIC's pockets

The LIC is building a war-chest, possibly for absorbing disinvestment proceeds. Time for government to take its hands out of LIC's pockets

Syndicate bank scam: Now UCO, Bank of Maharashtra under CBI scanner

CBI sources said the enquiries will look into alleged irregularities in the extension of credit facilities by UCO Bank and Bank of Maharashtra in the borrowers account facilitated by Pawan Bansal of Altius Finserve

PM Modi's Jan Dhan Yojana: Bankers beat account opening targets on Day 1

Prime Minister Narendra Modi on Thursday launched 'Pradhan Mantri Jan Dhan Yojana', aimed at bringing more people -- 7.5 crore households by FY18 -- under the banking fold.<br />

What India Inc thinks of Modi's Jan Dhan Yojana: Will remove poverty, curb corruption

Prime Minister Narendra Modi on Thursday launched his government's mega scheme 'Jan Dhan Yojana', declaring that it was aimed at eradicating financial untouchability by providing bank accounts to the poor.<br />

Foreign investors can buy govt bonds directly in secondary market: RBI

In a circular on Thursday, the RBI said the foreign investors can buy government bonds through any "prevalent market practice".<br />

New powers to fast-track prosecution, recovery proceedings: Sebi chief

There should be a sea-change from the earlier occasions when offenders would tend to "ignore orders from Sebi" and the legal cases would drag on for years without recovery of any money, Sinha said.

Make Aadhaar sole platform for financial inclusion, says RBI official

The Supreme Court recently invalidated making of Aadhaar enrolment a precondition for government benefits.<br />

RBI releases note, poster on KYC norms to help public open bank accounts

The objective of this is to bring awareness among the general public about the KYC simplification measures taken by the Reserve Bank in the recent times with a view to helping the common man in opening bank accounts

Jan Dhan Yojana: Modi to launch program on 28 Aug; 1 cr bank accounts to open on day 1

As many as 76 mega functions are being organised at different places to mark the launch of the scheme, under which the new account holders will be provided RuPay debit cards with an inbuilt insurance cover of Rs 1 lakh.<br />

Forensic audits and more: RBI to step up vigilance on banking sector to prevent frauds

RBI Deputy Governor R Gandhi today said "continuous vigilance and intelligence gathering" would be the central bank's key focus areas to prevent recurrence of frauds.

Syndicate Bank scam fallout: Govt considers splitting CMD post in public banks

Last week, Finance Minister Arun Jaitley had said the government was taking steps to professionalise the management and help them strengthen the risk management system in the public sector banks.<br />

Syndicate Bank scam: Can CBI unravel the dealings of Pawan Bansal, Altius Finserv?

The CBI has begun a probe into the functioning of Pawan Bansal and Altius Finserv in the Syndicate Bank scandal. Here's a look at the rise of Bansal from a fixed income specialist to the man who corporates turned to for loans.