Tag: bank of india

India’s inflation situation ‘very alarming’; needs better curation of policy between RBI, FinMin: Kaushik Basu

India’s wholesale price-based inflation is at a 30-year high, leading to a “very alarming” situation for the country, former World Bank chief economist Kaushik Basu...

26/11: Biden administration proposes extraditing Tahawwur Rana to India in court

The Biden administration has urged a federal court in Los Angeles to extradite Pakistani-origin Canadian businessman Tahawwur Rana to India where he is sought for...

NPCI in talks to take UPI, RuPay to global markets

National Payment Corporation of India (NPCI) is in talks with several global agencies to expand the global footprint of indigenous payment networks RuPay and UPI...

Sorry, no Mastercard? Making sense of RBI’s clampdown on US payments network

Mastercard Inc. has been told not to issue new cards in India. It’s a move that underscores the urgent need of a U.S.-led digital trade...

Financial inclusion will continue to be a policy priority after pandemic: RBI Governor Shaktikanta Das

RBI Governor Shaktikanta Das on Thursday said financial inclusion will continue to be a “policy priority” for the central to make the post-pandemic recovery more...

raghuram rajan: Indian needs foreign exchange reserves buffer to tackle exchange rate volatility: Raghuram Rajan

India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have “no friends” for swap lines and Japan was the...

Shaktikanta Das, Hardeep Singh Puri key speakers at ET Financial Inclusion Summit

Reserve (RBI) Governor Shaktikanta Das and housing and minister of petroleum and natural gas, and housing and urban affairs Hardeep Singh Puri would be the...

Centre’s dilemma: Rescue pandemic-hit sectors or boost sectors that beat the virus?

No epidemiologist can predict at this moment when India will face another wave of Covid-19. Nor can they tell us for certain whether it will...

Overdue FDs to earn lower interest after this RBI tweak; what you should do

The Reserve Bank of India (RBI) has amended the rules regarding how banks will pay interest on overdue, unclaimed fixed deposits (FDs). As per the...

Co-op banks shall not outsource core management functions: RBI

The Reserve on Monday directed cooperative banks not to outsource core management functions such as policy formulation, internal audit and compliance, compliance with KYC norms,...

Carlyle deal: PNB Housing Finance holds EGM

held its much-awaited extraordinary general meeting (EGM) on Tuesday to seek shareholders’ approval for a Rs 4,000 crore capital infusion into the company led by...

DIPAM seeks bids for transaction advisor for IDBI Bank strategic disinvestment, last date July 13

The department of investment and public asset management (DIPAM) Tuesday issued a request for proposal for appointing transaction advisor for strategic disinvestment and transfer of...

PMC Bank depositors should get back deposits without any condition: NCUI

Cooperative body NCUI has welcomed the RBI’s in-principal nod to Centrum Financial Services for the takeover of PMC Bank, but said all depositors should get...

RBI economists call rising inflation transitory, owing to pent-up demand

India’s inflation may have breached the prescribed target for the Reserve Bank of India, but the economists at the central bank believe that it may...

Microfinance may get the freedom to bloom

Differentiated lending rates and new product development is likely to drive India’s microfinance market going forward with the Reserve Bank of India planning to create...

RBI proposes to cap borrowers’ repayment outgo, scrap lending rate ceiling in uniform microfinance regulations

The Reserve Bank of India has suggested capping the total repayment outflow from a household to half of the annual income of the economically weaker...

Crisil fears large companies will benefit from RBI sops for contact-intensive sectors

Leading domestic ratings agency on Friday said feared risk aversion among banks may lead to only the large companies benefitting under the Rs 15,000-crore on-tap...

Force Majeure: Force Majeure: How successful has the law been post Covid in India

Force majeure clauses are risk attribution clauses, which specifically deal with the attribution of risk arising out of a force majeure event. Force majeure events...

Banks slowly warming up to NBFC lending

Bank credit to non banking finance companies (NBFCs) has picked up for the first time this fiscal in February indicating a postive impact of Reserve...

bad loans: RBI may set up task force soon: Rules for ARCs likely to be reviewed

In a move to activate the struggling market for bad loans, the rules for asset reconstruction companies (ARCs), which buy sticky assets from banks, may...

‘Indian economy may contract 25 per cent in current fiscal’ | India News

NEW DELHI: The Indian economy is not recovering as fast as the government claims and the country’s economy may contract 25 per cent in the...

View: A guru and a tycoon feel India’s endless bank salvage pain

After years of trying, making India’s broken banks whole is still very much like pulling teeth. The twists and turns in the $12 billion bankruptcy...

Can credit rating agencies be liable for defaults? SAT to give its verdict

The Securities Appellate Tribunal (SAT), which hears appeals of securities markets, will render its verdict on liability of credit rating agencies (CRAs) in case of...

Ecommerce provides big push to digital payments during Covid pandemic

Mumbai: The mass adoption of ecommerce and boom in online shopping have been the single biggest push for digital payments during the Covid-19 pandemic, panellists...

Lok Sabha passes Bilateral Netting of Qualified Financial Contracts Bill, 2020

Lok Sabha passed the Bilateral Netting of Qualified Financial Contracts Bill, 2020, which allows for enforcement of netting for qualified financial contracts, by a voice...