The move comes more than a year after the Enforcement Directorate attached Sandesara group’s assets worth over Rs 9,700 crore in Nigeria, which included oil rigs, an oil field, ships and aircraft. But the process is yet to start.
This approach has so far delivered three projects - instant account opening, biometric know your customer (KYC) and fixed deposit renewals over a call, the sources told PTI, adding over 10 other projects are already in the works.
Public and private sector lenders have sanctioned the loans under the Centre's Emergency Credit Line Guarantee Scheme (ECLGS). At the national level, the amount stood at around Rs 1.60 lakh crore.
While retaining the overall priority sector lending target of 40 per cent for local commercial banks, the target for lending to small farmers is increased from 8 per cent their lending in 2020-21 to 10 per cent by 2023-24 of and the target for lending to weaker sections has gone up from 10 to 12 per cent.
Lall in his communication further mentioned that in view of his prolonged health issues the bank had thought through a succession plan for the role that he is vacating. The new appointment is subject to RBI approval and will facilitate a smooth transition.
"At this time, I don't see any issue of availability of money, which is available in plenty. Banks are ready to lend for vehicles if there is a demand for that. So at this stage, I don't see there is any issue either on the rate of interest or the availability of money (for vehicle finance)," he said.
Giving the example of SBI, he said, 91 per cent of jobs are being done digitally now, which was unthinkable 35 years ago.
FM Sitharaman tells banks that Covid-related distress must not impact the lenders’ assessment of their credit-worthiness. Banks have also been asked to be proactive and reach out to stressed borrowers who are eligible for restructuring.
The decision to shut operations by the Aditya Birla Idea Payments Bank was taken due to unanticipated developments in the business landscape which have made the economic model unviable, a regulatory filing by the Vodafone Idea Limited had said in July last year.
The finance ministry has also been in touch with the RBI to ensure that the lenders are assisted by the central bank during the resolution process, the statement said.
RBL Bank customers can withdraw cash without their debit cards from 389 IMT-enabled automated teller machines (ATMs) of the bank or more than 40,000 other bank ATMs across the country, it said in a release.
PNB Housing Finance’s decision came Wednesday, barely within a month of Hardayal Prasad taking over as chief executive replacing interim head Neeraj Vyas.