NABARD disburses Rs 12,767cr to state cooperative banks, RRBs for onlending to farmers; loans offered at interest rate of 4.8%
NABARD said since the second half of March 2020, it has disbursed nearly Rs 30,021 crore to rural banks.
The Reserve Bank on Friday debarred all commercial and cooperative banks from paying dividends to shareholders and promoter groups as the regulator fears the Covid-driven economic shocks would continue longer and may put the health of the financial system at risk
Govt moves towards simplifying tax regime; LIC IPO will benefit retail investors: Nirmala Sitharaman
The finance minister said that taxpayers' charter is based on the idea that taxation regime should be on the foundation of trust among citizens.
PMC Bank fallout: Cabinet clears amendment to banking laws to strengthen cooperative banks; RBI nod to be made mandatory for appointments
The decision assumes significance in the wake of a scam in the PMC Bank affecting lakhs of customers who are facing difficulties in withdrawing their money due to restrictions imposed by the RBI.
Fadnavis said he would be meeting Modi on 13 October, and he had already prepared a brief on the PMC Bank issue for the meeting.
The RBI had put regulatory restrictions on PMC Bank after finding irregularities, and misreporting of loans given to real estate developer HDIL
PMC crisis shows depositors are sitting ducks if their bank goes bust; why shouldn’t savers get cover for full amount?
The deposit insurance guarantee scheme was set up in 1961 to ensure depositors are guaranteed at least some amount in the event of a bank collapse
According to the source, of the Rs 8,880-crore loan book (as of 19 September 2019) that PMC Bank had, more than Rs 6,500 crore or over 73 percent of the assets are with the bankrupt HDIL group only.
PMC crisis: Politicising cooperative banking mess is opportunism; RBI has to own up to its mistake of waking up too late
The PMC episode is only the symptom of a deeper malaise plaguing many other loosely regulated cooperative banks in the country.
It would help if both the Mudra agency and the Ministry of Finance put out regular and detailed data regarding Mudra bad loans.
Shaktikanta Das took over as 25th Governor of RBI last week following the abrupt exit of Urjit Patel ahead of schedule due to differences with the government.
RBI to strengthen grievance redressal mechanism of banks by giving more autonomy to Internal Ombudsman
With a view to strengthening the internal grievance redressal mechanism at banks, select banks were advised in May 2015 to appoint Internal Ombudsman as the apex authority
Rot in PSBs Part 3: Nirav Modi scam shows it's time Parliament reexamined banking laws, brought in transparency
Transparency and information systems of the RBI need to be overhauled
The Expert Group, to be chaired by NITI Member Ramesh Chand.
Why is the Nabard’s and the I-T department’s assessments about the money that entered the cooperative banks contradictory?
The Shiv Sena on Wednesday claimed credit for the Union government's decision to allow the district central cooperative (DCC) banks among others to deposit demonetised currency with RBI by 20 July.
Demonetisation: Govt gives a month for cooperative banks, post offices to deposit old notes with RBI
Cooperative banks have also been allowed to exchange old currency notes with the RBI, if they had collected these notes by 14 November, the day RBI barred them from dealing in old notes
The amendment to the notification comes after the I-T department spotted irregularities in deposits of cooperative banks following demonetisation
It is unlikely that there could be a direct transfer of money to Jan Dhan accounts which is reported to have seen some misuses. The government would want to use indirect transfer mechanisms
Prominent RTI activist Anil Galgali had sought information under the RTI on the extent of irregularities committed by state cooperative banks between 8 November and 10 December, 2016, and alleged corruption by officials