RBI asks banks not to open current accounts for customers having cash credit, overdraft facilities

In a notification, the central bank said that rather than opening a new current account, all transactions should be routed through Cash Credit (CC) or OverDraft (OD) account.

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How does a bank restructure a loan? A banker explains RBI's spiel

As per experts, RBI is yet to clarify on the type of personal loans that are eligible under this recast that aims to cushion the pandemic's blow on struggling businesses and households. Veteran banker Sanjay Thakur, who heads strategy at one of India's leading private lenders, helped us decode this financial spiel

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State Bank of India taps Facebook Messenger for ongoing #GharSeBanking campaign

Social media giant Facebook said on Thursday that State Bank of India (SBI) has driven downloads and adoption for its YONO app, YONO Lite, SBI Quick, BHIM SBI Pay, and other online SBI platforms leveraging conversational marketing via Facebook Messenger.

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RBI allows one-time restructuring of loans. Here what that means for businesses and borrowers

The central bank will also form a expert committee headed by former ICICI Bank CEO KV Kamath to suggest ways in which the restructuring will be implemented, governor Shaktikanta Das said.

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HDFC Bank delayed reports of repayment status of millions of borrowers: Experian to RBI

One of India’s biggest credit bureaus, Experian Plc told the Reserve Bank of India in July that HDFC Bank has been late in providing details of its loans, including the repayment status of its millions of retail borrowers. Such tardiness has been an issue for about two years.

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Extension of moratorium and restructuring of loan could pose risk to lenders: ICRA

Extension of moratorium and one-time restructuring of loan could pose challenges to lenders, and also impact their financial stability if the quantum is large, rating agency Icra said in a report on Wednesday.

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Forensic audit of Reliance Home Finance proved there was diversion of funds: PNB source

“The account was declared fraud based on the forensic audit. At a time when capital is so scarce, why should I declare an account fraud for no reason. It is based on facts and figures,” the PNB official said.

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Can create another middle-class in rural, says HDFC Bank founder CEO Aditya Puri

The founder CEO of HDFC Bank, will hand over the reins to his colleague Sashidhar (Sashi) Jagdishan in October

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IRDAI permits life insurers to issue policies electronically amid Covid pandemic

The Insurance Regulatory and Development Authority of India (IRDAI) issued a circular exempting the life insurance companies from the requirement of issuing policy document and copy of proposal form in physical form, subject to certain conditions.

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US-based DFC backs IndusInd Bank's loan to Aviom India Housing Finance

India's micro-housing sector has got a boost with US-based Development Finance Corporation (DFC) taking exposure in Delhi-based startup Aviom India Housing Finance.

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Multibagger Securities Research & Advisory: Your Most Preferred Stock Market Expert and Advisor

“Our vision is to become industry leader in equity research and advisory.” - Manish Goyal, CEO Investment has always been a preferred medium of multiplying ...

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Ashwini Kumar Tewari assumes charge as MD & CEO of SBI Card

SBI Card, the country's second largest credit card issuer, on Tuesday said Ashwini Kumar Tewari has taken over as its new managing director and chief executive officer, effective August 1. Tewari has taken over the charge from Hardayal Prasad who retired on July 31, 2020.

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Multiply your wealth with compounding

Compound interest is one of the most important concepts to understand when managing your finances. It is the simplest yet the most powerful concept and has a...

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