View: Bank mergers and minor policy changes won’t revive economy

Simply freezing lending by the worst banks was never a long-term solution.

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Federal Bank to link savings deposit rate to external benchmarks

The Federal Bank said from September 1 its savings deposits up to Rs 2 lakh will earn interest in tandem with the repo rate.

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Assam unit of the All India Bank Officers’ Confederation opposes PSUs's merger

Dilip Kumar Roychoudhury Secretary AIBOC, Assam State Unit stated the move will deprive the masses from banking services.

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Government accepts State Bank of India MD Anshula Kant's resignation

Kant was appointed as the managing director and chief financial officer of the World Bank.

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Bank employees stage protest against Centre's decision to merge PSU banks

Employees of all public and private sector banks wore black badges to work as a mark of protest to the government's decision.

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Board to soon consider amalgamation with OBC, United Bank: PNB

"A meeting of board of directors to consider the amalgamation will be convened by the bank shortly," PNB said.

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Bank merger: A move 6 months in making that even bank bosses had no idea about

There were several calculations, including political ones. Finally, it was tech that settled the issue.

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Once city of banks, Kolkata may have one PSU bank headquarter

Now Kolkata could soon be left with just one HQ of a state-run lender — UCO Bank.

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Half of merging banks had ‘foreign’ origins

The oldest is Kolkata-based Allahabad Bank, which is also the oldest joint stock company in India.

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How the new banks will look

After these mergers, the total number of PSBs in India will come down to 12 from 27 two years ago.

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Bancassurance JVs may see a change in ownership structure

Post merger, these insurance companies may get better opportunities and reach for business.

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IBA to review performance-linked pay for bank employees

Wage revision in public sector banks take place every five years. The 11th bipartite settlement is due from November 1, 2017.

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NextGen PSBs: Which bank merged with whom and what's the impact

​​In place of fragmented lending capacity with 27 PSBs in 2017, now there will be 12 PSBs post consolidation.

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PSBs gross NPAs down to Rs 7.9 lakh crore: FM Nirmala Sitharaman

The FM said the reforms initiated in the public sector banks (PSBs) have started showing results as 14 of them posted a profit in the first quarter of the current fiscal.

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Nirmala Sitharaman: PNB, OBC, United Bank to be merged

Finance Minister Nirmala Sitharaman today announced a mega-merger of PSB banks.

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PMO seeks litigation withdrawal update from CBDT

The Prime Ministers Office (PMO) has sought data on withdrawal of cases and the cases identified for withdrawal till August 31.

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RBI extends banking license of Rupee Cooperative Bank till Nov 30, 2019

The RBI Inspection and the Statutory Audit for the FY 2018-19 is completed.

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India’s insurance industry is improving efficiency through the use of new-age technology

Insurers have launched mobile phone apps, making it easier for customers to transact with them. They are, slowly and surely, moving towards paperless claims as well.

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Around Rs 32,000 crore of loans may be transferred: DHFL lenders plan to put loans to builders in SPVs

Development managers may be appointed; Adani, Piramal and Tata among groups approached.

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Digital payments growing in India at 12.7% CAGR: KPMG

Besides, the number of merchants accepting digital payments modes has increased to over 10 million in a short span of two to three years.

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Testing ground for fintech a game changer or a work in progress? RBI's sandbox move divides industry

RBI has made it clear that any losses incurred by customers during testing would be borne by participant.

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Lenders likely to put bad loans worth Rs 8,000 crore on the block

Loans mainly from power, manufacturing sectors, UBI may put up the largest chunk.

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In a surprise move, Lakshmi Vilas CEO Parthasarathi Mukherjee quits

Mukherjee quit citing personal reasons, the bank informed the bourses late in the evening.

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Banks not to link small deposits to repo rate

Bankers have expressed concerns over the falling deposit rates, especially for senior citizens, who largely live on their interest earnings.

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eKYC, Digital KYC for opening bank accounts to make process secure: UIDAI

Digital KYC will ensure a smooth process for those who do not want to share their Aadhaar number for opening bank account.

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A year after IL&FS collapse: Debt, destruction and dithering

When the government superseded the IL&FS board and appointed Uday Kotak to head it, there was hope of a quick resolution.

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PNB, Allahabad Bank launch loan products linked to repo rate

Punjab National Bank launched PNB Advantage, a retail lending scheme linked with the repo rate effective Tuesday.

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Bain Capital to enter credit business in India, hires director

Bain Capital Credit is a leading global credit specialist with $41 billion in assets under management.

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SBI, PNB, Bank of Baroda under ED scrutiny in Ratul Puri bank fraud case

Puri, nephew of Madhya Pradesh chief minister Kamal Nath, was arrested by the agency on August 20 while he was undergoing questioning in the AgustaWestland case.

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Surge in ATM frauds could lead to 6-12 hour gap between cash withdrawals

During 2018-19, 179 ATM fraud cases were reported in Delhi.

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Deutsche Bank, reeling from global job cuts, is hiring in India

The ambitions for India reflect Deutsche Bank’s wider focus on retail banking and wealth management.

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Bank of Baroda to buy around Rs 6,000 crore of securitised NBFC loans in Q2

The lender had already bought around Rs 3,500 crore loans from NBFCs in the June quarter.

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DHFL appoints KK Mankeshwar & Co as new auditor

As per a BSE filing, the appointment of the new auditor comes into effect from August 26.

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Simpler KYC may not make life easier for NBFCs

Govt's move on customer onboarding through Aadhaar may not bring down costs on physical verification for shadow banks.

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Bank of Maharashtra to link retail loans with repo rate

The inter-bank meeting, held under the aegis of the State Level Bankers' Committee (SLBC), was organised by BoM, convenor, SLBC, Maharashtra State.

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CVC sets up panel to examine bank fraud above Rs 50 cr

The panel in its previous avatar called the Advisory Board on Bank, Commercial and Financial Frauds.

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How Flipkart's PhonePe plans to become a major financial services player

PhonePe is in talks to raise $1 billion, giving it a valuation of $7-8 billion.

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There is no rescission in the country, just decline in demand in certain sectors: Rajnish Kumar

Kumar said that it is not a recession, there is in certain sector there is decline in demand particularly in auto sector.

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Banks suggest easier loan rules for farmers

PSU banks may allow farmers to borrow afresh before clearing existing loans.

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Ingenico Group ties up with IKEA India to enable digital payments

IKEA will be launching its online shopping services in Mumbai, followed by Hyderabad

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Govt announces capital infusion of Rs 70,000 crore in state-run banks

While the RBI has cut rates by a total 110 basis points since February, the pass through has been less than desirable.

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Bandhan Bank teams up with Standard Chartered Bank for a co-branded credit card

The credit card will be for Bandhan Bank customers while the credit risk will be borne by StanChart, one of the leaders in the credit card market with 1.2 million credit card base.

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Banks suggest easier farm loan rules to remove stress

Banks are collating these suggestions from grassroots employees, refining them and are likely to handover the suggestions to the government in the first week of September.

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IIFL set to snap up L&T Fin's wealth management arm for Rs 250 cr

One of the largest players in in the wealth management business, IIFL will put the deal through next week.

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Fintech login gets an India, China lift

In 2017, the first time the index was created, India’s fintech adoption rate was 52% -- still higher than the global average of 33%.

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Readying for life after Aditya Puri's retirement: HDFC Bank rejigs top management

Terms Sashidhar Jagdishan ‘change agent’, also makes him the head of all important portfolios.

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HSBC lays off 150 employees from back offices in India

The job impacts are at the mid-management level at its centres in Pune and Hyderabad.

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Credit crunch leads to increase in demand for gold loans

Those pawning their precious possessions are most often independent workers, including farmers and small shop owners.

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Fintech Tala raises $110m in Series-D funding led by RPS Ventures

The consumer lending app will use the fresh capital to expand in India and support the launch of new products.

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Shadow bank crackdown accelerates in India amid cash squeeze

RBI has canceled registrations of 1,851 non-bank finance companies in the year ended March 31, which is eight times more than those in the last year.

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Finance ministry amends PMLA Act to offer clarity on digital KYC

PMLA is the means through which lenders, investment platforms and telecom companies are authorised to capture customer details.

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