Clipped from: https://www.business-standard.com/article/economy-policy/depositors-to-get-up-to-rs-5-lakh-within-90-days-if-bank-under-moratorium-121072801218_1.html The announcement covers 98.3% of all deposit accounts and 50.9 per cent of the deposit value, Finance Minister Nirmala Sitharaman said Finance Minister
Category: RBI–Banks
RBI allows wallets, white label card networks to access RTGS, NEFT systems | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/rbi-allows-wallets-white-label-card-networks-access-to-its-payment-systems-121072801709_1.html Centralised Payment Systems’ access will also help lower cost of payments for non-banks, reduce their dependence on banks, says RBI Photo: Bloomberg The Reserve
Changes to DICGC Act: Deposit insurance cover gets stronger – The Financial Express
Clipped from: https://www.financialexpress.com/economy/changes-to-dicgc-act-deposit-insurance-cover-gets-stronger/2299587/ Customers to have access to deposits in 90 days if a bank goes bust; start-ups to benefit as a dozen offences by LLPs
Depositors to get upto Rs 5 lakh from DICGC within 90 days if bank fails: Cabinet clears amendment – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/save/depositors-to-get-upto-rs-5-lakh-from-dicgc-within-90-days-if-bank-fails-cabinet-clears-amendment/articleshow/84824441.cmsSynopsis This move is expected to cover around 98.3% of total number of accounts and 50.9% of the value of total deposits held with
Deposit insurance bill amendments okayed, all kinds of deposits up to Rs 5 lakh in all types of banks to be insured – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/deposit-insurance-bill-okayed-all-kinds-of-deposits-up-to-rs-5-lakh-in-all-types-of-banks-to-be-insured/articleshow/84823146.cmsSynopsis 98.3% of all deposit accounts will get covered under it, in terms of value of the deposits over 50% coverage. Bank depositors will
Gold reserves with RBI surged over 12 times in 20 years: Govt data – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/gold-reserves-with-rbi-surged-over-12-times-in-20-years-govt-data/article35562643.ece Around ₹50,000 crore lying as unclaimed deposit with banks, insurance companies Gold reserves with the Reserve Bank of India surged over 12 times
Urban co-op banks in ICU, post-Covid – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/urban-co-op-banks-in-icu-post-covid/article35566094.ece Depositors’ ire A file picture of protests against mismanagement at UCBs – The Hindu Depositors’ ire A file picture of protests against mismanagement
MSMEs need more support, speedy relief: Parliamentary panel to Centre – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/msmes-need-more-support-speedy-relief-parliamentary-panel-to-centre/article35568684.ece Larger package will spur demand, investment, exports and jobs, it says The Industry Standing Committee of Parliament, headed by TRS leader K Keshava
Mastercard to file an independent audit report – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/mastercard-to-file-an-independent-audit-report/article35569716.ece Mastercard has already submitted to the RBI its annual System Audit Report but there were delays in sending a supplemental audit report In
MSME: To strengthen TReDS, Factoring Amendment Bill passed by Lok Sabha – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/to-strengthen-treds-factoring-amendment-bill-passed-by-lok-sabha/articleshow/84783038.cmsSynopsis Finance minister Nirmala Sitharaman said that the government had also accepted the recommendations by the Standing Committee which had looked into the Bill
Nearly Rs 49,000 crore lying unclaimed with banks, insurers: Karad – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/nearly-rs-49000-crore-lying-unclaimed-with-banks-insurers-karad/articleshow/84791075.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Giving the details in a written reply, the minister said as per information received from the Reserve Bank of India (RBI), the total
The forex bonanza is not a cause for celebration – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/columns/c-p-chandrasekhar/the-forex-bonanza-is-not-a-cause-for-celebration/article35545913.ece Portfolio investment zoomed from $1.4 billion in 2019-20 to $36.1 billion in 2020-21 – REUTERS Portfolio investment zoomed from $1.4 billion in 2019-20
HDFC Bank launches up to Rs 10 lakh overdraft facility for shopkeepers, merchants to ease cash crunch – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/msme-fin-hdfc-bank-launches-up-to-rs-10-lakh-overdraft-facility-for-shopkeepers-merchants-to-ease-cash-crunch/2298139/ Credit and Finance for MSMEs: HDFC Bank will approve an overdraft limit from a minimum of Rs 50,000 to a maximum of Rs
Loans worth Rs 1.34 lakh crore to real estate sector under severe stress: Anarock – The Financial Express
Clipped from: https://www.financialexpress.com/industry/loans-worth-rs-1-34-lakh-crore-to-real-estate-sector-under-severe-stress-anarock/2298120/ “$18 billion (or 18%) of the overall lending to Indian real estate is under severe stress, implying that there has been high leveraging
UK High Court declares Vijay Mallya bankrupt for Indian banks to realise debt – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/india/uk-high-court-declares-vijay-mallya-bankrupt-for-indian-banks-to-realise-debt/articleshow/84762670.cmsSynopsis “As at 15.42 [UK time], I adjudicate Dr Mallya bankrupt,” Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs said in his ruling
What to do if you have defaulted on a home loan – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/borrow/what-to-do-if-you-have-defaulted-on-a-home-loan/articleshow/84704041.cmsSynopsis In case the bank decides to name the borrowers as defaulters, it will then send a full and final 60 days’ notice under
Mastercard ban: RBI seeks action plan from banks – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/mastercard-ban-rbi-seeks-action-plan-from-banks/articleshow/84744882.cmsSynopsis The Reserve Bank of India has also reached out to various lenders on the problems being faced by the broader banking system after
Revitalizing MSME financing: COVID and beyond – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/money/revitalizing-msme-financing-covid-and-beyond/articleshow/84700269.cmsSynopsis Although the pandemic has affected firms of all sizes, but SMEs have been more vulnerable. Access to finance is a key constraint to
The new moneylenders! Not just banks, look who is into lending money online now – The Financial Express
Clipped from: https://www.financialexpress.com/money/the-new-moneylenders-not-just-banks-look-who-is-into-lending-money-online-now/2297761/ The new moneylenders are smart. They are millennials, not banks, armed not with complex rule books but gadgets – smartphones or computers –
Top things you should know before co-applying for a home loan – The Financial Express
Clipped from: https://www.financialexpress.com/money/top-things-you-should-know-before-co-applying-for-a-home-loan/2297717/ It is important to understand whether one should apply for a home loan with a co-applicant or as the sole applicant. Co-applicants can
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