Concerned over manual identification of bad loans by some banks, the RBI on Monday asked lenders to introduce an automated IT-based system for asset classification and provisioning.
The West Bengal government has allowed banks to operate on working Saturdays as part of further relaxations in COVID-related restrictions, according to an order.
According to the CBDT, it received some representations which revealed that a few banks are imposing and collecting charges on transactions carried out through UPI. A certain number of transactions were allowed free by these banks beyond which every transaction bears a charge, the CBDT noted.
The report noted that the deterioration in the macroeconomic and financial environment is impinging on asset quality, capital adequacy and profitability of banks.
State-owned banks need to be recapitalised or given the alternative of capital conservation as one-year suspension under insolvency and bankruptcy code (IBC) provisions will affect the resolution of stressed accounts, says an SBI research report.
US Congress on Thursday passes new sanctions over Hong Kong rights, targeting banks that do business with Chinese officials who are involved in cracking down on pro-democracy protesters.
As businesses go through a tough phase with fall in revenues and liquidity crunch, a joint report by FICCI and Deloitte suggests that the banking sector can come up with a 'crisis liquidity bridge' for companies through working capital term loan (WCTL) and funded interest term loan (FITL) among other facilities to tide over the coroanavirus crisis.
The Reserve Bank on Monday warned banks that they will have to pay 200 bps additional penal interest if they fail to invest the mandated 50 per cent of the funds raised through targeted long-term repo operations (TLTRO) route in corporate bonds within a month.
Additional Chief Secretary Home Awanish Kumar Awasthi on Friday said on the directions of Chief Minister Yogi Adityanath all banks in the state will remain open on Mahavir Jayanti and Good Friday during the lockdown period.
The Reserve Bank on Tuesday asked the private sector and foreign banks to intimate it six months in advance in cases of re-appointment of managing director and chief executives as against the present practice of four months.
Banks will open across Punjab on March 30 and 31 to facilitate people in their financial transactions amid the curfew restrictions, Chief Minister Captain Amarinder Singh said on Sunday.
Reports have claimed that major banks in India are planning to shut down most of their branches during the 21-day lockdown, which began Tuesday midnight. But how true is it?
RBI Governor Shaktikanta Das on Friday announced a reduction in the Cash Reserve Ratio (CRR) of all banks by 100 basis points to 3% of Net Demand and Time Liabilities with effect from the fortnight beginning March 28 for a period of 1 year.
Coronavirus Lockdown: Banks in India are devising plans to work with minimum staff. According to the plan, a bank branch would be operational every 5 km in cities while banks in rural areas will operate alternate day, Reuters report claims.
The government on Thursday said the mega bank consolidation plan is very much on track and will take effect from April 1 despite the onslaught of coronavirus pandemic throwing the country out of gear.
Bank of Baroda said it has set up an emergency credit line to provide funds to its existing MSME and corporate borrowers impacted by the outbreak of coronavirus. This follows a similar additional funding facility announced by the country's largest lender State Bank of India for its borrowers, last week.
The outbreak of COVID-19 and continued slowdown in the economy are likely to have an impact on banks asset quality and may trigger a surge in gross non-performing assets (GNPA) ratio to 9.6 to 9.9 per cent by the second or third quarter of the next fiscal, says a report.
Amid coronavirus pandemic, the government has announced lockdown across 80 districts, including 16 districts, of Uttar Pradesh. The government has also suspended all non-essential services, including Railways, Metro till March 31. To simplify things for you, IndianTV News has compiled a list of services and facilities that will be functional and suspended during the lockdown.
Bank customers who are expecting the issuance of their new credit, debit cards after March 16 should know about a number of things that they will have to keep in mind while doing any type of transactions after 16th March.
Union Finance Minister Nirmala Sitharaman Wednesday said banks were not instructed to stop dispensing Rs 2,000 notes. The statement comes after Indian Bank decided to stop putting Rs 2,000 notes in its ATM machines.
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