According to sources, the process for inviting Expression of Interest (EOI) for its key assets was launched on October 31, 2020, with a view to unlock value of its underlying businesses and targets to make RCL debt free.
IDFC First Bank is factoring in total restructuring of about 4% of its loan book of Rs 1.06 lakh crore under the Covid-19 recast window, chief executive V Vaidyanathan told ET.
Puri, who joined as the first employee in the HDFC Bank, has been instrumental in building the bank as the most valued lender in India. HDFC Bank is now valued at Rs 5.5 lakh crore in the market, the third most valued firm in India after Reliance Industries and TCS.
Both private and public sector banks are confident that stress in their books will not go out of control by the end of the fiscal as they have all increased their provision coverage ratios (PCR) to deal with any increased stress.
Bank of Baroda is also not levying charges on debit in the Jan Dhan Accounts. The bank has, as on date, not levied any charges for any debit to such accounts. The charges on the requirement of maintaining a minimum balance in such accounts are also not applied. The bank is adhering to the instructions of the RBI.
The Ministry of Finance had in August issued a circular to the managing directors and chief executive officers of all commercial banks saying it was ‘critical’ that all lenders complete integration with the government-owned information utility ‘urgently’.
"I say..Ministry of Finance, Department of Financial Services in view of the unprecedented and extreme COVID-19 situation vide its letter ..
Under the new structure, Max Life will become an 88:12 joint venture between Max Financial and Axis Bank in the first phase.
The private sector non-life insurance players reported a 5.04 per cent fall in premium at Rs 11,814.71 crore in September 2020 as against Rs 12,442.35 crore a year ago.
'RBI Kehta Hai' was the first even 360 degree campaign initiated by the central bank using all mass media, including media such as television, radio, newspapers, hoardings, web banners, gifs, social media and SMS.
Of the 43 RRBs, about one-third especially from north-eastern and eastern regions are in losses and they needed fund to meet regulatory capital requirement of 9 per cent, sources said.
The rate cut would be effective from November 1, 2020. With the cut in the external benchmark repo linked rate, all retail loans of the bank would get automatically adjusted.