This step is expected to further enhance customer convenience, spur competition and raise efficiency in customer services, a ministry statement said
The AIBEA said the move will make it more difficult for public sector banks to lend to weaker and priority sectors at concessional rates of interest
Private banks can now be equal partners in the development of the Indian economy, the Union finance minister added
FII ownership in Nifty-500 hits five-year low during Q4; promoter holdings up post-COVID-19 outbreak: Motilal Oswal
Both FIIs and domestic institutional investors (DIIs) increased stake in telecom on a quarter-on-quarter basis by 190 and 220 basis points respectively.
Sensex settles 416 points higher at 31,743, Nifty below 9,300-mark; IndusInd Bank, Britannia among major gainers
At close, the Sensex was up 415.86 points or 1.33 percent at 31743.08, and the Nifty was up 127.90 points or 1.40 percent at 9282.30. About 1,286 shares have advanced, 1076 shares declined, and 180 shares are unchanged.
Most of the private sector lenders have decided to go for the "opt-in" option on loan repayment moratorium, putting the onus on the customer to take the initiative of informing the bank of their choice to go for the three-month breather offered by the Reserve Bank of India
Coronavirus Outbreak: Borrowers unlikely to get significant gains from loan moratorium; banks to charge interest later
The three-month suspension of EMI payments may not result in a significant gains for borrowers as they will charge interest for the moratorium period, according to the moratorium scheme announced by state-owned banks
Coronavirus Outbreak: RBI cuts repo rate by 75 bps, extends loan EMI payments, injects liquidity; key takeaways from Shaktikanta Das press conference
The RBI governor announced that the Repo rate stands at 4.20 percent now vs 5.15 percent earlier
Full list of bank holidays in October 2019: Banks to remain shut on 11 days, including Dussehra, Gandhi Jayanti, Diwali
Customers must note that as per Reserve Bank of India (RBI) notification and rules, all banks including public, private, foreign, cooperative are shut on all Sundays and second and fourth Saturdays of the month.
The number of cases of frauds reported by banks saw a jump of 15 percent year-on-year basis in 2018-19, with the amount involved increasing by 73.8 percent in the year, RBI's annual report showed
Top private sector lenders have cut their interest rates on deposits by up to 0.25 percent over the last week, officials said on Monday
RBI governor Shaktikanta Das to meet bank heads on 21 February on transmission of rate cut to borrowers
Earlier this month, the RBI cut the benchmark interest rate by 0.25 percent to 6.25 percent.
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.
"There is a need for the new RBI Governor to rethink the regulatory framework for private bank ownership. None of us wants India homegrown banks to be allowed in the hands of foreign players." RSS affiliate, Swadeshi Jagran Manch said
Banks are witnessing a spurt in asset quality stress in the non-corporate segment and the overall loan loss provisions for lenders are expected to stay elevated till fiscal year 2019-20, an India-Ratings report said
PSBs should have operational freedom like private players to deal with issues, says Bank of India non-executive chairman
Most of the problems in the banking sector are due to operational issues rather than ownership issues, Bank of India non-executive chairman G Padmanabhan said
The inter-creditor agreement (ICA), under the Project Sashakt, seeks to resolve loans under Rs 50 crore or more which are under consortium lending but under Rs 500 crore
Govt accepts National Housing Bank chief Sriram Kalyanaraman's resignation; to probe alleged misconduct
Kalyanaraman was appointed as MD and CEO for a period of five years in 2015.
Banks' bad loans mound declines for the first time in five quarters; the NPA mess explained in 7 charts
seven charts throw more light on the bad loans crisis that has engulfed the nation's banking sector.
On an outstanding basis, public sector banks held around two-thirds of total deposits, the RBI said.