Reliance Nippon AMC moves to HC to recover Rs 478 crore from DHFL

The counsel for DHFL said the company defaulted on the payment of about Rs 200 crore in the month of May.

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HDFC Bank, ICICI, others in MeitY’s digital good books

Government looks to achieve 40 billion digital transactions in the current financial year.

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How to put India's shadow banks on firmer ground

An institution that uses public funds to buy stalled projects from builders could halt this crisis of confidence.

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RBI move on LVB has no impact on merger proposal: Indiabulls

In April this year, Indiabulls Housing Finance (IBHF) had announced the proposed merger in April and applied for the RBI nod in May.

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Canara, Corporation Bank, others introduce repo linked loan products

With banks launching this product, rates for home, car and personal loans will come down.

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Bandhan Bank overcomes all regulatory hurdles for merger with Gruh Finance

Bandhan Bank has received the certified copy of the NCLT order on Monday, Managing Director Chandra Shekhar Ghosh told ET.

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Banks to launch first phase of customer outreach loan initiative on Oct 3

The second phase will be in 150 districts and will be held between October 21 and October 25, just before Diwali, sources said.

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PNB ties up with NBFCs for co-orginating loans worth Rs 4,000 crore

The stress on NBFCs and HFCs is seen as a key reason for slowdown in the economy, as it has caused reduced credit flow to small businesses.

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Altico crisis: HDFC Bank's Aditya Puri defends en-cashing FD

Altico, which owes over Rs 4,500 crore to the system, had defaulted on an interest payment of around Rs 20 crore earlier this month to an ECB raised through the UAE lender Masherq Bank.

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HDFC Bank takes on ecommerce majors, launches three-month-long discount campaign

The aggressive posturing comes at a time when the massive slump in consumption is being blamed for the overall economic gloom pulling down GDP to a six-year low in the June quarter at a 5 percent.

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How important is savings in our daily lives

“If you buy things you do not need, soon you will have to sell things you need” As grim as this may sound, Warren Buffet hit the nail on the head when he sai...

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Live Life King Size!

Recently I went to a couple of MBA colleges for pre placement talk. I also happened to conduct a few IAP sessions with the young first jobbers. I met many en...

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Current slowdown an opportunity to grow our books: HDFC Bank MD Aditya Puri

The bank had reported a 1.40 per cent gross non- performing assets ratio in June quarter.

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SBI becomes first Indian bank to have office in Australia's Victoria

The Melbourne office will assist the growing trade and investment relations between Victoria and India.

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Keep it simple with SIPs

It’s a universal truth that stock markets are dynamic and nonlinear. Unfortunately, most investors get carried away by bullish market sentiments and expect i...

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PMC crisis: This tiny bank in Maharashtra is a canary in India’s coalmine

How did PMC’s board, its auditors and the central bank remain clueless for so long?

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How SIP in mutual funds may help recoup interest on your home loan

‘He is not a full man who does not own a piece of land’ – goes a Hebrew proverb. Almost all Indians are conditioned to own at least 1 house of their own. It ...

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SIPs: A way to keep emotions away

In the world of investments, there is a well-researched theory of how human emotions play strongly at the wrong time. We all know that the markets are cyclic...

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Reliance Capital hopes to shutter two lending arms by December

Reliance Capital has two credit verticals -- Reliance Commercial Finance and Reliance Home Finance -- with a cumulative asset of over Rs 25,000 crore.

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Is Equity Investing an Art or a Science?

Human beings have a peculiar habit of categorizing anything and everything around them. This makes the oft-heard debate about categorization of a stream/ fie...

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Cricket and Investing

May 2019 was an action packed month for India as 2 of India’s 3 biggest obsessions Politics, Cricket and Bollywood kept everyone hooked to their television...

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Goldman Sachs invests Rs 500 crore in Ozone Techno Park

With lending by banks to realty slowing down since 2011-12, the role of NBFCs and housing finance companies had gained prominence.

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Indiabulls' assurance on proposed LVB merger: Chairman Gehlaut won’t sit on board if RBI insists

Group tells RBI it will comply with regulator’s demands; central bank not convinced.

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Four PSBs carry on their search for CEOs

The searches commenced before FM Nirmala Sitharaman announced the amalgamation in August, bringing down the total number of state-run banks to a dozen from 27 in 2017.

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Over two-thirds of PMC’s loan exposure is in HDIL group

Officials allegedly helped lend 73% of total loans of the bank to just HDIL.

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Punjab and Maharashtra Cooperative Bank administrator to move EoW against ex-management soon

The FIRs will be filed at the Economic Offence Wing (EOW) of the Mumbai police.

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RBI wanted PMC chairman Waryam Singh to be sacked in 2018 for irregularities

RBI had found out his involvement in sanctioning loans to realty developer HDIL without proper due diligence and much above the regulatory limits.

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PMC's HDIL loan at Rs 6,500 crore, or 73 percent of total loan book: Ex-MD Thomas in letter to RBI

The admission came in after a board member leaked the actual balance sheet details to the Reserve Bank, a source in know of the details said.

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DHFL lenders led by SBI expected to complete debt resolution plan quickly

The company had floated draft resolution plan according to which, it has assumed a price of Rs 54 per share for debt conversion into equity by lenders to acquire 51 per cent in the company.

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Government may seek Rs 30,000 cr interim dividend from RBI

Apart from the RBI dividend, there are other means of bridging any shortfall, including mop up from disinvestment and higher utilisation of National Small Saving Fund (NSSF)

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Reserve Bank of India may go for another rate cut on Oct 4: Experts

The central bank has already slashed the repo rate (short-term borrowing rate) four times aggregating to 1.10 percentage points since January.

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The Co-op crisis: How 1,500-odd urban cooperative banks are being run and regulated

Though the AGM of PMC Bank has been postponed amid the ongoing crisis, fireworks are likely at meetings of other urban cooperative banks.

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FSDC mulls upon revisiting laws to detect early signals of instability

The FSDC Sub-Committee discussed measures to promote interest and competition in stressed asset markets.

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RBI initiates prompt corrective action for Lakshmi Vilas Bank after directors probed for alleged fraud

The Reserve Bank of India has initiated prompt corrective action for the troubled Lakshmi Vilas Bank.

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Plea for probe into alleged funds misappropriation by Indiabulls; HC asks Centre, RBI to reply

A bench of Chief Justice D N Patel and Justice C Hari Shankar issued notice to the central government, the Reserve Bank of India and Indiabulls seeking their stand on the petition filed by an NGO.

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It wasn't even a fraud, RBI decision harsh: Suspended PMC MD Joy Thomas

Thomas insisted that there was no fraud done in the PMC bank and termed the whole issue as "technical in nature".

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Lakshmi Vilas Bank directors probed for alleged fraud

The directors face charges of cheating, breach of trust, misappropriation and conspiracy.

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Beware! North Korean hackers are watching your ATM transactions

Lazarus group, controlled by North Korea's primary intelligence bureau, is behind this malware affecting ATM machines.

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Benefits of Asset Allocation

People investing in mutual funds or other financial instruments these days often come across a term called Asset Allocation thrown at them time and again wit...

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RBI allows PMC Bank customers to withdraw up to Rs 10,000

Expects move will let more than 60% of depositors take out their entire balance.

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Bank credit grows by 10.26%, deposits 10.02%: RBI data

In the year-ago fortnight, banks advances were at Rs 87.98 lakh crore and Rs 115.63 lakh crore.

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RBI group suggests longer term repo for liquidity management

Minimizing RBI's role in daily liquidity management would incentivise banks to trade among themselves.

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3 MORE REASONS TO INVEST IN GOLD

With gold prices soaring and interest in gold getting revived, we explore some interesting, subtle economic indicators that could impact gold, and give inves...

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RBI increases withdrawal limit from Rs 1,000 to Rs 10,000 for PMC Bank customers

RBI had barred the Mumbai-based lender from carrying out a majority of its routine business transactions for a six-month period.

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A cooperative run by RBI officers is stuck in the middle of the PMC bank snafu

The Reserve Bank of India Officers' Co-op Credit Society, the report claims, has its biggest FD with PMC Bank.

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IL&FS approaches NCLAT seeking release of Rs 145 cr held by Gujarat discom

A two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya has issued notice to the Gujarat Urja Vikas Nigam over the IL&FS plea.

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PMC says has enough liquidity, depositors' money fully safe

RBI superseded the bank's management and placed it under an administrator for the next six months.

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PSBs best for sustainable development; India, Russia, SA have anorexic loan portfolio: UNCTAD

Public banking should be given back its traditional, bigger role if the environmental and economic landscape is to be transformed by 2030, said the UNCTAD Trade and Development Report 2019 released here.

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Indian Bank to link retail & MSME loans to RBI's repo rate from October 1

The RBI has mandated all banks to link their loans with external benchmarks, such as repo, aimed at faster transmission of rate cuts effected by it to consumers.

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PNB launches Preventive Vigilance portal

The bank is introducing technology-based solutions through the Preventive Vigilance (PV) portal, which is the first of its kind, the bank said in a statement.

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