MONEY & BANKING


Moneylife Digital Team 29 June 2021
India’s largest state-run lender State Bank of India (SBI) has revised service charges for cash withdrawals from automated teller machines (ATMs) and bank branches. "Charges will be recovered beyond four free cash withdrawal transaction (including ATM and branch)," SBI...

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Moneylife Digital Team 28 June 2021
According to its new guidelines on educational qualifications and 'fit and proper' criteria for managing directors (MDs) and whole-time directors (WTDs) of primary urban cooperative banks, the Reserve Bank of India (RBI) has barred MPs (member of parliament) and MLAs (member of legislative...

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 American "shadow banks"-- which are less regulated and include private credit intermediaries such as private equity, venture capital, and hedge fund firms -- have invested in ways that extracts profit from the misfortunes of frontline workers, struggling companies, and distressed sectors...

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Yogesh Sapkale Yogesh Sapkale 22 June 2021
Public sector banks (PSBs) evidently have little interest now in the recovery of written off bad loans, especially from big defaulters, and are focused instead on merely keeping the account books clean and non-performing asset (NPA)-free, by writing off bad loans. This is brought home afresh...

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Moneylife Digital Team 18 June 2021
S&P Global Ratings revised its rating outlook on ICICI Bank Ltd to stable from negative, reflecting the agency's expectation that the lender's capitalisation will remain strong over the next 24 months, despite some deterioration in asset quality owing to COVID-19.   S&P also affirmed...

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Moneylife Digital Team 15 June 2021
Customers of HDFC Bank Ltd again faced ‘some issues’ on its mobile banking application. The Bank suggested to customers that they use internet banking till the glitch in its mobile app is resolved. Services from the mobile app, however, were restored in an hour's time. The Bank has of late...

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In a strange turn of events, the State Bank of India (SBI) on Wednesday chose to withdraw the fraud tag against RComs tower and fibre company Reliance Infratel Ltd by filing an affidavit in NCLT Mumbai, stating that it wanted to remove the fraud tag on the company.   Reliance Projects...

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The board members of Punjab National Bank (PNB) including its independent directors may seek more clarity on the PNB Housing Finance fund raising deal.   The Rs 4,000 crore transfer of control deal in PNB Housing Finance to a private equity led consortium led by Carlyle Group has...

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Moneylife Digital Team 09 June 2021
In order to to make the claim settlement process easier and faster for dependents of its deceased customers, public sector bank (PSB) Central Bank of India on Tuesday announced that it has introduced an online process for the same. Central Bank of India is the first bank to recognise the need...

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India Ratings and Research (Ind-Ra) says it witnessed a drop in April 2021 collections or in the May 2021 pay-outs, in the rated securitisation transactions across asset classes. As per early signals, the ratings agency says the second COVID wave is expected to significantly affect May 2021...

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The US Justice Department announced that federal law enforcement officials have seized $2.3 million in cryptocurrency of the ransom paid to hackers who shut down the key Colonial Pipeline last month.   "Following the money remains one of the most basic, yet powerful tools we have,"...

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Moneylife Digital Team 07 June 2021
The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the Piramal group’s resolution plan for Dewan Housing Finance Limited (DHFL). The order is, however, subject to the outcome of the appeal in the National Company Law Appellate Tribunal (NCLAT) and the Supreme Court...

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The on-tap liquidity window of contact-intensive sectors including travel and tourism, hotels, parlours and event organisers, announced by the Reserve Bank of India (RBI), will be operational from Monday.   The facility will be open till March 31, 2022, said an RBI...

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Moneylife Digital Team 02 June 2021
The All India Bank Officers' Confederation (AIBOC) has requested Debashish Panda, secretary in the department of financial services (DFS) in the Union ministry of finance, to immediately deploy guards or caretakers at all automated teller machine (ATM) kiosks across the...

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Moneylife Digital Team 02 June 2021
The Reserve Bank of India (RBI) has cancelled licence of Pune-based Shivajirao Bhosale Sahakari Bank, since the lender does not have adequate capital and earning prospects. More than 98% of the depositors of the cooperative bank will receive full amount of their deposits from the Deposit...

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The Central Bureau of Investigation (CBI) on Tuesday said that it has registered a case against Guwahati-based Ghosh Brothers Automobiles and its promoters and directors in a bank fraud case worth Rs 168 crore.   A CBI spokesperson here said that the agency has booked Pranab Kumar...

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Moneylife Digital Team 01 June 2021
Kapil Wadhawan, former promoter of the beleaguered Dewan Housing Finance Ltd (DHFL), has filed a plea in the Supreme Court (SC) challenging the stay granted by the National Company Law Appellate Tribunal (NCLAT). On 25th May, the NCLAT had stayed the National Company Law Tribunal (NCLT) ...

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The Enforcement Directorate has attached 20 immovable properties, located in Mumbai, Pune and Ratnagiri and worth Rs 166 crore, in connection with a case of bank fraud case involving the Maharashtra-based Varron group of Industries.   An ED official said that the financial probe...

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Reliance Jio has moved the NCLT against the Committee of Creditors (CoC) of Reliance Infratel Ltd (RITL).   According to sources, Reliance Jio, through Reliance Project and Property Management Services Ltd, has filed an application in the NCLT Mumbai against the CoC of Reliance...

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Moneylife Digital Team 26 May 2021
The second COVID wave will have a material impact on vehicle financers’ asset quality as borrowers are grappling with reduced capacity utilisation and increased operating costs due to a rising fuel cost, which would reduce their ability to service debt, says a research note.   In the...

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