MONEY & BANKING


Moneylife Digital Team 18 May 2021
While some district collectors are making waves due to their exemplary work, the mindless action by others in certain rural areas are creating Covid hotspots, especially in banks. Already bankers are being hounded by the police, and when the banks were asked to shut shop for a week, one...

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Moneylife Digital Team 30 April 2021
The Delhi High Court (HC) on Friday granted interim protection to DBS Bank Ltd from adjudication of a show cause notice (SCN) proposing to levy service tax on obligation of maintaining minimum average balance (MAB) by its customers, along with interest and penalty, reports...

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Moneylife Digital Team 22 April 2021
Credit conditions have improved for Asia-Pacific banks over the past quarter. Economies are recovering smartly, countries are rolling out vaccinations, and regional financing circumstances remain supportive. And, yet, the pandemic has  seriously set back the finances of households and...

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Dr B Yerram Raju Dr B Yerram Raju 21 April 2021
Born at Nellore on 3 June 1927 Maidavolu Narasimham, father of financial and banking reforms, breathed last on 20 April 2021. This 94-year-old legend in banking was the only person joining the Reserve Bank of India (RBI) as a research officer in the department of research and statistics, to...

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Moneylife Digital Team 20 April 2021
More and more painful cases are pouring in about the harassment faced in the wake of indiscriminate freezing of bank accounts. Several members of Moneylife Foundation have been writing in to recount their desperate plight. Many were caught completely unawares when their bank accounts were...

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Moneylife Digital Team 19 April 2021
The fourth quarter (Q4) of fiscal 2021 (Q4FY20-21) witnessed securitisation transactions amounting to about Rs40,000 crore to become the highest grossing quarter for the fiscal. Despite this last-quarter surge, securitisation volumes closed below the psychological Rs1 lakh crore mark last...

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In a setback to  State Bank of India (SBI) and the Reserve Bank of India )RBI), the Supreme Court (SC) has refused to  stay the judgement dated 10 December 2020 of a division bench of the Telangana High Court, in appeals filed by SBI and RBI.   In the matter of State Bank of India &...

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In a global restructuring to allocate resources in markets with scale, Citigroup will exit consumer banking operations in India as well as 12 other countries.   The multinational investment bank headquartered in New York on Thursday announced strategic actions in the global consumer...

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Moneylife Digital Team 15 April 2021
In a small relief to the common man in a covid-struck difficult year, the penalty for non-maintenance of the minimum balance in a post office savings account has been reduced by half. As per a notification issued by the Ministry of Finance, the fee levied for non-maintenance of minimum...

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Moneylife Digital Team 14 April 2021
The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs25 crore on Yes Bank Ltd for perpetrating fraudulent acts on its customers by influencing them to alter their investment positions from fixed deposits (FD) to risky additional tier-1 (AT-1) bonds. Three former senior...

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Moneylife Digital Team 12 April 2021
Systemic risk facing banks in India is likely to remain high in the wake of the second wave of COVID-19 infections and a high proportion of weak loans. This is even though India's economic recovery and steps by the central bank and the government to cushion the effects of the economic crisis...

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Moneylife Digital Team 12 April 2021
A new study by IIT Bombay has revealed that several banks, including State Bank of India (SBI), have been imposing excessive service charges on zero-balance or basic savings bank deposit accounts (BSBDA). In fact, SBI alone collected almost Rs300 crore over the past five years from these...

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Moneylife Digital Team 12 April 2021
The correction in gold prices in recent months is not expected to materially impact the asset quality of non-banking financial companies (NBFCs) lending against gold. While NBFCs have maintained disbursement loan-to-value (LTV) below 75%, banks have higher incremental-disbursement LTV at...

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Mahesh Natani 12 April 2021
The US dollar has appreciated by over 1.5% in comparison to Indian rupee since 7 April 2021 when the Reserve Bank of India (RBI), at its meeting, had announced that It would continue to make available additional liquidity of around Rs1 lakh per quarter during the current financial year for...

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Moneylife Digital Team 08 April 2021
SREI Equipment Finance Ltd (SEFL) says it has received expression of interest (EOIs) for up to $250 million capital infusion in the company from two international private equity (PE) funds.    In a statement, SEFL says, US-based Arena Investors LP and Singapore's Makara Capital...

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The Central Bureau of Investigation (CBI) has filed charge-sheet against 45 individuals, bank officials and companies in three separate cases pertaining to Rs150-crore bank fraud, before the Special CBI Court here, an official said on Thursday.   The accused include senior officials...

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Moneylife Digital Team 08 April 2021
India's non-bank financial institutions (NBFI) face renewed asset quality and liquidity risks amid a second wave of coronavirus infections, and these challenges are likely to increase if recent restrictions to contain the pandemic are expanded or prolonged, leading to greater economic and...

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Moneylife Digital Team 01 April 2021
The government of India (GoI)’s proposed equity infusion in four public sector banks (PSBs) through non-interest-bearing bonds would bolster their regulatory capital levels, but their lower intrinsic values would not strengthen their tangible equity by as much, says India Ratings and Research...

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Government-owned Indian Bank has declared bad loans amounting to Rs202.32 crore to seven domestic borrowers and $5.289 million lent to a foreign company as fraud.   The bank has said it has provided a sum of Rs129.97 crore as on December 31 last year for the loans to seven domestic...

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Moneylife Digital Team 01 April 2021
The traditional microfinance-joint liability group (MFI-JLG) model has been one of the very few banking, financial services and insurance (BFSI) business models which has delivered a high return (20% plus return on equity—RoE) despite regulatory, political, and other impediments. The MFI...

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