“Offline payments may be made using any channel or instrument like cards, wallets, mobile devices, etc,” the RBI said in a statement. “Offline payments shall be made in proximity (face to face) mode only.”
“It’s a wait-and-watch mode; some states and large cities have announced night curfews, and are restricting movement of people. That is likely to affect business momentum,” said a senior official with a state-run bank. “Frankly, the big worry is about demand getting affected again because that will derail plans undertaken by businesses.”
Federal Bank topped the chart with a 12 per cent year-on-year rise in advances to Rs 1.44 lakh crore, according to provisional data released by the bank. CSB Bank reported 11.6 per cent rise in advances to Rs 13291 crore while Dhanlaxmi Bank showed 10.5 per cent rise to Rs 6837 crore.
The customer segment of Fino Bank at the middle of the pyramid is targeted to families of many of the people working in foreign countries, Fino Bank said. The money remitted by family members abroad can now be directly withdrawn at the nearest micro-ATM or Aadhaar-enabled payment services (AEPS)-enabled Fino Bank's neighbourhood merchant point.
“Three months from now, the super app should be ready, offering every financial product that a customer needs,” YS Chakravarti, CEO of the company, said.
Srei Infrastructure Finance, the main Srei company, owns 51% in Trinity, and the balance 49% equity is held by Payaash Capital, a Singapore-based entity.
As per the proposal submitted to the Reserve Bank of India, the National Asset Reconstruction Company (NARCL) would have acquiring non-performing loans from banks while India Debt Resolution Company (IDRCL) would provide resolution of these assets.
The Reserve Bank analysed daily returns of 32 major bank stocks covering 90% of the banking sector assets and the correlation of the daily stock returns for each bank pair was computed for each calendar year from 2011 onward to measure the systemic risk levels.
Like every year, ET Wealth has assessed 10 tax-saving instruments on eight key parameters— returns, safety, flexibility, liquidity, costs, transparency, ease of investment and taxability of income. Read on to know which is the best and the worst way to save tax.
The asset under management of shadow banking players is expected to grow at 6-8 per cent in the current financial year and 8-10 per cent in the next financial year, Sitaraman said.
It is going to be more than seven months since the Insurance Regulatory and Development Authority of India (IRDAI) is without a Chairman. There are many old regulations that need to be reviewed, senior industry officials told IANS not wanting to be quoted.
The Appointments Committee of the Cabinet (ACC) approved Goel as the next incumbent at the second largest public sector bank after State Bank of India.
Bank credit picked up 7.1 per cent in November, higher than 5.9 per cent clocked in the same period a year ago driven largely by better growth in retail, agriculture and MSME loans according to the latest data on sectoral deployment of bank credit released by the Reserve Bank of India.