MONEY & BANKING


IANS 15 February 2019
The Reserve Bank of India (RBI) has imposed separate monetary penalties on three lenders -- Bank of India, Oriental Bank of Commerce and Punjab National Bank -- over deficiencies in complying with regulatory norms.   A penalty of Rs 1 crore each has been slapped on the Bank of India...

Read More



IANS 14 February 2019
The Board of the beleaguered airline Jet Airways on Thursday approved a Bank-Led Provisional Resolution Plan (BLPRP) to relieve the financial strain on the passenger carrier.   "The BLPRP currently estimates a funding gap of Rs 8,500 crore (including proposed repayment of aircraft...

Read More



Moneylife Digital Team 14 February 2019
Debt-laden IDBI Bank Ltd has put on block a lavish 10-bedroom residential property belonging to Pradip and Neha Hirani, owner of the Kimaya chain of fashion stores. The 12,200 sqft property spread across five floors is located at Bandra in Mumbai and has two floors dedicated to recreation...

Read More



Moneylife Digital Team 13 February 2019
The Reserve Bank of India (RBI) has imposed monetary penalty ranging from Rs20 lakh to Rs1.5 crore on seven banks including three private sector lenders and four public sector banks (PSBs) for non-compliance of its directions.    RBI has levied a fine of Rs20 lakh each on HDFC Bank...

Read More



Anjana Das (IANS) 11 February 2019
The Finance Ministry is hopeful that all banks will be out of the prompt corrective action (PCA) list by the end of June with their net NPA level coming in the range of 6 per cent by then.   The capital needs of all PCA banks have already been taken care of by the government through...

Read More



Moneylife Digital Team 11 February 2019
Reverse mortgage (RM), an obvious product for India’s aging and senior citizen population, which is often asset-rich and cash poor, needs to be made more viable by improving product design and structure. This includes following international practices, where the government bears part of the...

Read More



The latest Financial Stability Report , published by the Reserve Bank of India (RBI) , states that the sectoral deployment of gross bank credit exposure to industry sector expanded by 2.3% in Q2FY18-19 compared a meagre 0.7% in Q4FY17-18. Large industry gained the most with almost 3% increase...

Read More



Moneylife Digital Team 07 February 2019
The Reserve Bank of India (RBI) on Thursday reduced its repo rate (short-term lending) by 25 basis points (bps) to 6.25% in its sixth monetary policy review for 2018-19.   Following the move, the reverse repo rate (short-term borrowing) stands at 6%. Subsequently, the marginal...

Read More



Moneylife Digital Team 06 February 2019
With rising demand, bank credit in India is expected to grow 13% to 14% during FY18-19 and FY19-20, forcing banks, especially private sector lenders, to aggressively mobilise deposits. To meet the increased demand, banks will have to raise about Rs20 lakh crore as fresh deposits, says a...

Read More



IANS 06 February 2019
The National Company Law Tribunal (NCLT) Mumbai on Tuesday ordered the liquidation of the debt-hit fashion textile major Reid & Taylor after all attempts to revive it failed.   The NCLT Mumbai bench comprising B.M. Mohan and V. Nallasenapathy ruled that the investors have failed to...

Read More



IANS 06 February 2019
The Reserve Bank of India (RBI) has imposed separate monetary penalties on lenders -- UCO Bank, Axis Bank and Syndicate Bank -- over deficiencies in complying with different regulatory norms.   The RBI imposed a penalty of Rs 2 crore each on UCO Bank and Axis Bank for non-compliance...

Read More



IANS 05 February 2019
The Mumbai DRT has summoned absconding diamantaire Nirav D. Modi, the public sector Union Bank of India and others at 12 noon on March 12 in a case filed by the Punjab National Bank (PNB) pertaining to the Rs 14,000-crore fraud.   The PNB has filed the case before the Mumbai Debt...

Read More



Moneylife Digital Team 05 February 2019
As many as 20,000 people, including top leaders of employee unions, politicians and academicians participated in a mahamorcha organised by All India Bank Officers' Confederation (AIBOC) in New Delhi. AIBOC is the apex trade union organisation of bank officers' in the country representing over...

Read More



Moneylife Digital Team 01 February 2019
Emphasizing the need to create a safe electronic banking environment, the Kerala high Court has ruled that a bank cannot be exonerated from the liability for the loss caused to its customer on account of the unauthorised withdrawals made from his account merely on the ground that the customer...

Read More



Moneylife Digital Team  and   IANS 30 January 2019
The Justice BN Srikrishna Committee that probed allegations against Chanda Kochhar, the former managind director (MD) and chief executive (CEO) of ICICI Bank, has found that she violated the bank's code of conduct in dealing with conflict of interest and fiduciary duties in the case of loans...

Read More



Moneylife Digital Team 30 January 2019
The government has increased its borrowing from the National Small Savings Fund (NSSF) due to the large interest gap between bank deposits and small saving rates. However, this may make it difficult for banks to reduce deposit rates and hence lending rates in the near future, says a research...

Read More



IANS 30 January 2019
New facts have emerged at the recent lenders' meeting organised with Zee management. It has emerged that promoters' loans directly or indirectly against the security of their listed Zee Entertainment shares stand at over Rs13,000 crore, adding to the group's liability.   The break-up...

Read More



Moneylife Digital Team 29 January 2019
Dewan Housing Finance Corporation Ltd (DHFL) has siphoned off Rs31,000 crore into promoter companies to create private wealth through a network of shell companies, alleges Cobrapost.    Here is a single infograph that explains what Cobrapost has unearthed about #LooteraDewan....

Read More



Rajeev Jhawar 29 January 2019
In previous two parts, we have seen how regulators are working on sound mortgage lending practices and guidelines issued by some of the authorities. This is the concluding part of a three-part series.    I feel lending standards should be applied in a coordinated way, leading to a...

Read More



IANS 29 January 2019
The CBI is planning to issues summons to former ICICI Bank chief Chanda Kochhar, her husband Deepak Kochhar and industrialist V.N. Dhoot in connection with Rs 3,250-crore loan case involving the Videocon Group and the ICICI Bank.   CBI sources on Monday said the agency would initiate...

Read More

Free Helpline
Legal Credit
Feedback