Deccan Urban Co-op Bank: RBI puts Rs 1,000 withdrawal cap for 6 months

from Banking/Finance-Industry-Economic Times https://ift.tt/3aBFy4c

RBI puts Rs 1,000 withdrawal cap on Deccan Urban Co-operative Bank; fresh loans, deposits restricted

It has also asked the lender to desist from disbursing any payment whether in discharge of its liabilities or otherwise, or dispose of any of its assets except as notified in the RBI direction.

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

Karnataka Bank reports Rs 34.16-crore fraud to RBI

Private sector lender Karnataka Bank on Friday said it has reported to the RBI a fraud of about Rs 34.16 crore in credit facilities extended to IL&FS Transportation Networks, which is a dud account now.

from Banking/Finance-Industry-Economic Times https://ift.tt/3qCKw66

LIC Housing Finance disburses Rs 1,331 crore of loans via mobile app

It said the 'Homy' app facilitated 14,155 customer home loan applications since its launch on February 14, 2020. More than 7,300 of these customers have had their home loans sanctioned. Of these, loans were disbursed to 6,884 customers amounting to Rs 1,331 crore so far.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Nk5rN0

Bank unions stage protest against privatisation; plan to march towards Parliament in March

About 10 lakh bank employees and officers under the banner of United Forum of Unions consisting of nine unions AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW, NOBO are agitating against government's proposal, AIBEA said in a statement.

from Banking/Finance-Industry-Economic Times https://ift.tt/37tjo1Y

Indian Bank signs MOU with SID of IISc, for funding Start-ups and MSMEs

This initiative is a part of the Banks scheme Ind Spring Board for financing Start-ups and will empower Start-ups and MSMEs to realise their research efforts powered by financial support from the Bank and backed by incubation facilities offered by SID, it said in a release.

from Banking/Finance-Industry-Economic Times https://ift.tt/37ua0ep

Govt flags SBI-HDFC Bank-Bank of Baroda's NUE plan to rival NPCI

The government doesn't want public sector banks, which SBI and Bank of Baroda are, to compete against RuPay and UPI that are run by the National Payments Corporation of India (NPCI).

from Banking/Finance-Industry-Economic Times https://ift.tt/3qxW7Du

RBI tightens payments security norms for banks, digital payment operators

“The Master Direction provides necessary guidelines…to set up a robust governance structure and implement common minimum standards of security controls for digital payment products and services,” the central bank said in a circular.

from Banking/Finance-Industry-Economic Times https://ift.tt/3u42TTE

Government's initiatives brings back loan growth to pre-Covid levels

Enquiries by borrowers rose 13 per cent year-on-year as of December'20 with lending growth largely being driven by the MSME segment. The total on-balance-sheet commercial lending exposure in India stood at Rs 71.25 lakh crores in Sep’20, clocking a growth rate of 2.1% y-o-y.

from Banking/Finance-Industry-Economic Times https://ift.tt/3bg3pFv

Education loan demand hits new high despite pandemic

Education loan companies – which include banks and non-bank lenders - have disbursed Rs 11,000 crore loans in the 12 months through September 2020, according to data from CRIF High Mark, a credit bureau.

from Banking/Finance-Industry-Economic Times https://ift.tt/2M0CaGn

As court rules Citi can't get back $500 mn it wrongly paid, what does India's law say

As court rules Citi can't get back $500 mn it wrongly paid, what does India's law say

from Banking/Finance-Industry-Economic Times https://ift.tt/2ZuQEl7

KKR India NBFC, InCred set for all-stock merger

KKR will end up owning 33-35% of the entity that will emerge from the merger of KKR India Financial Services and InCred, while InCred and its promoters will own the rest.

from Banking/Finance-Industry-Economic Times https://ift.tt/3qwetow

ICICI Lombard partners with Flipkart to offer 'Hospicash' benefit to consumers

Compared to the standard indemnity health insurance policies, Group SafeGuard is a benefit offering that allows consumers to avail a payout for each day of hospitalisation, a joint statement said on Wednesday.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Nd3yBG