RBI fines 4 bank, including PNB for violation of KYC norms

Punjab National Bank, Allahabad Bank and UCO Bank have been fined Rs 50 lakh each, while a penalty of Rs 25 lakh has been imposed on Corporation Bank.

from Banking/Finance-Industry-Economic Times https://ift.tt/2XnGFiE

Bank employees seek PM's attention to pension demand

They have raised the pitch following the government’s decision to clear the pension issues for Reserve Bank of India earlier this year.

from Banking/Finance-Industry-Economic Times https://ift.tt/2FLv8PC

Banks expect Adlabs resolution before Sept outside NCLT

The bankers, however, are more hopeful and keen on selling their loans to asset reconstruction companies, and a loan auction is likely to begin shortly, said the sources.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Lz2HrG

Wilful defaults in India cross $21 billion in 2018-19

Under Indian law, wilful defaulters are classified as firms or individuals who own large businesses and deliberately avoid repayments.

from Banking/Finance-Industry-Economic Times https://ift.tt/303JZfN

Bharti Airtel, Bharti Enterprises infuse Rs 325 crore in payments bank

The fund infusion from Bharti Airtel stood at Rs 260 crore, and that from Bharti Enterprises at Rs 65 crore in the form of preference shares.

from Banking/Finance-Industry-Economic Times https://ift.tt/2XhpAlG

Number of bank frauds declines to 6,735 in 2018-19: Finance minister

The occurrence of frauds was enabled by a lack of discipline in the financial system and a lax credit culture, the finance minister said.

from Banking/Finance-Industry-Economic Times https://ift.tt/2KRtRdV

Queues get longer as ATM numbers shrink

What has also contributed to the increase in average usage of ATMs is the fact that banks are issuing more debit cards.

from Banking/Finance-Industry-Economic Times https://ift.tt/2No1y91

PwC exits put auditors, banks, rating cos in a fix

With June quarter results coming up, many audit firms that have a difference of opinion with managements.

from Banking/Finance-Industry-Economic Times https://ift.tt/321h8dW

One BKC developer Radius defaults on interest payments

The Radius Group project that Yes Bank had funded is located in Chembur, a sprawling northeast Mumbai suburb.

from Banking/Finance-Industry-Economic Times https://ift.tt/2NpraSZ

Citibank moves SAT, questions Sebi and exchanges’ power to annul trades

The matter has also brought forth some grey areas in the current regulations on trade annulment.

from Banking/Finance-Industry-Economic Times https://ift.tt/321h5Pi

DHFL crisis: Bankers to sign inter-creditor agreement

Bankers to DHFL met on Monday and agreed in principle to sign an ICA which is mandatory for any revival plan according to the new framework for restructuring of stressed loans which came into effect from June 7.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Xbvhle

2,313 frauds reported in Mudra loan accounts

Out of 103 delinquent employees identified, action has been taken on 68 as per extant guidelines.

from Banking/Finance-Industry-Economic Times https://ift.tt/2J3pzOB

Not charging extra for digital transactions: Paytm

"Paytm customers will continue using all the services available on the platform without any fee," Paytm said.

from Banking/Finance-Industry-Economic Times https://ift.tt/2XfTImq