Clipped from: https://www.financialexpress.com/budget/budget-2021-expectations-msmes-seek-extension-of-credit-guarantee-scheme-interest-subvention-coverage/2173309/ Union Budget 2021 Expectations for MSMEs: The government had waived the onboarding fee of Rs 10,000 on TReDS platforms in September last year
Category: RBI–Banks
Axis Bank to treat home loans of credit card defaulters as NPAs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/axis-bank-to-treat-home-loans-of-credit-card-defaulters-as-npas/articleshow/80492859.cmsSynopsis From the lender’s perspective, a loan that is classified as a non-performing asset (NPA) would mean that the bank would have to take
India Banks Crisis: Economic Survey points out the original sin that caused India’s banking crisis–ECONOMIC SURVEY 2021 | the economic times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/economic-survey-points-out-the-original-sin-that-caused-indias-banking-crisis/articleshow/80574246.cmsSynopsis Severe under-capitalisation of Indian banks was the inevitable outcome of prolonged forbearance. This triggered a distortion in bank’s potential incentives, eventually emboldening them
CBI books six Indian Overseas Bank officials for misappropriating Rs 4.56 crore – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/cbi-books-six-indian-overseas-bank-officials-for-misappropriating-rs-4-56-crore/articleshow/80584903.cmsSynopsis Although six officials have been booked, the complaint from the Indian Overseas Bank shows that it was Veepuri who received over Rs 2.64
Zombie lending, forbearance, evergreening: Economic Survey talks about lending perils in India | Deccan Herald
Clipped from: https://www.deccanherald.com/business/union-budget/zombie-lending-forbearance-evergreening-economic-survey-talks-about-lending-perils-in-india-944845.html This commentary may be the result of the fact that RBI had to bail out two full-fledged private banks within a span of
Bank of Baroda considers permanent work from home option–business today
Clipped from: https://www.businesstoday.in/sectors/banks/bank-of-baroda-considers-permanent-work-from-home-option/story/429352.html?ref=taboola The bank has also appointed management consultancy firm McKinsey & Co to help implement a strategy for a post-Covid world Representational Image (Photo-PTI)
Economic survey makes case for another bank balance sheet clean-up | Deccan Herald
Clipped from: https://www.deccanherald.com/business/economic-survey-makes-case-for-another-bank-balance-sheet-clean-up-944876.html The survey is also critical of the fact that the 2015 balance sheet did not reveal the extent of evergreening of loans by
RBI cancels licence of Kolhapur-based Shivam Sahakari Bank – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-cancels-licence-of-kolhapur-based-shivam-sahakari-bank/articleshow/80588883.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis With the cancellation of licence and commencement of liquidation proceedings, the process of paying the depositors of Shivam Sahakari Bank as per the
TReDS: TReDs was touted as the tool to tackle delayed payments to MSMEs. Did it succeed? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/money/treds-was-touted-as-the-tool-to-tackle-delayed-payments-to-msmes-did-it-succeed/articleshow/80551986.cms Synopsis–TReDS was supposed to be a game changer-a platform that could sort out the issue of delayed payments for MSMEs. Almost five years
YES Bank, LVB events show RBI did not identify ‘evergreening’, shows Eco Survey – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/yes-bank-lvb-events-show-rbi-did-not-identify-evergreening-shows-eco-survey/articleshow/80586474.cmsSynopsis The economic survey went on to add the audits conducted by the RBI failed to capture the evergreening at Yes Bank and LVB.
Axis Bank Q3 net profit down 36% – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/axis-bank-q3-net-profit-down-36/article33676489.ece?homepage=true Private sector lender Axis Bank reported a 36.4 per cent drop in net profit in the third quarter of this fiscal despite a
Bank of Baroda reports ₹1,061 cr profit in Q3 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/bank-of-baroda-reports-1061-cr-profit-in-q3/article33675747.ece?homepage=true A 69% decline in bad loans provisioning and a 55% increase in trading gains helped boost the bottom line. Bank of Baroda (BoB) reported
Time to strengthen digital banking – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/time-to-strengthen-digital-banking/article33667540.ece Making the NEFT system foolproof, ensuring customers of merged banks are not deprived of digital services, and mandating OTP for even cash withdrawals
Budget Byte: Banks’ non-performing assets likely to bulge in 2021 | Business Standard News
Clipped from: https://www.business-standard.com/budget/article/budget-byte-banks-non-performing-assets-likely-to-bulge-in-2021-121012601093_1.html This daily series of graphs provides context to some of the critical issues relating to the Union Budget on February 1 MSMEs bear the
Aadhaar Enabled Payments: Taking banking services to the doorsteps of the underserved – The Financial Express
Clipped from: https://www.financialexpress.com/industry/banking-finance/aadhaar-enabled-payments-taking-banking-services-to-the-doorsteps-of-the-underserved/2179343/ India Post Payments Bank enables cash withdrawal of over Rs 7,000 crore with Aadhaar Enabled Payment System Solution powered by FSS Technologies New
‘We have not sold a single loan to any ARC’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/we-have-not-sold-a-single-loan-to-any-arc/article33655419.ece YES Bank MD and CEO says bank will work on plans to expand branch network The turnaround for YES Bank has been much
PMC Bank revival: Phased deposit withdrawal likely for customers – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/pmc-bank-revival-phased-deposit-withdrawal-likely-for-customers/article33656374.ece Potential investors include the Centrum Group-BharatPe combine and the UK-based Liberty Group Harried depositors of the scam-hit Punjab and Maharashtra Co-operative (PMC) Bank
Auto MSMEs cornered 91% of loans amid Covid; NPA share declined across borrower segments – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/msme-fin-auto-msmes-cornered-91-of-loans-amid-covid-npa-share-declined-across-borrower-segments/2178285/ Credit and Finance for MSMEs: Within the top clusters of Mumbai-Pune, Delhi-Gurugram-Faridabad, Chennai, Bengaluru, Jamshedpur-Kolkata, Ludhiana-Jalandhar, Sanand, and Pithampur, the credit availed by
Harassment in fintech loan recovery: Why onus is on borrowers too–business today
Clipped from: https://www.businesstoday.in/money/banking/harassment-in-fintech-loan-recovery-why-onus-is-on-borrowers-too/story/428547.html Fintech platforms might be taking borrowers for a ride, but onus is on the borrowers too – take loan with an intent to
Rashesh Shah Interview: ‘Govt spending actually helps middle & lower class, so fiscal stimulus is more important’ | Business News,The Indian Express
Clipped from: https://indianexpress.com/article/business/economy/govt-spending-actually-helps-middle-lower-class-so-fiscal-stimulus-is-more-important-7160347/ Even though the government did not spend much money, it has bounced back very well. The Sensex has seen a sharp rally to
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