"We are also suggesting SLBC convenors to separately call meetings of all stakeholders including Chief Medical Officers and senior level government officials and deliberate on emerging situations in their respective states and issue advisories to the banks," IBA CEO Sunil Mehta said in a letter addressed to heads of banks.
The board of directors of PNB, on recommendation of the nomination and remuneration committee, approved on April 20, 2021 reappointment of Nilesh S Vikamsey as an additional director in the category of independent director, PNB Housing Finance said.
The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, in a representation to Indian Banks' Association (IBA) Chairman Raj Kiran Rai G said branches with continued footfalls and across-the-counter connect with customers are potential hubs of infections.
Both the home financiers will frame a common credit policy with IBH originating retail housing loans. While HDFC will retain 80 percent of any such credit on its book, the rest 20 percent will go to IBH’s loan book. Indiabulls will service the loan account throughout the life cycle of the loan.
Life insurers reported stellar individual annual premium equivalent (APE) growth of 90 per cent in March due to low base, translating into a 40 per cent growth in Q4 and a full 8 per cent for FY21, said the report. It, however, added that the two-year individual APE growth was a modest 6 per cent for the year.
The news was broken to FirstRand staff via a video conference on Tuesday. In response to a query from ET India CEO Rohit Wahi shared a statement confirming the shut down of its only branch in Mumbai and a retreat into a limited representative office. The move is likely to impact at least 50 jobs in India.
The retail and e-commerce segments recorded a massive 106 per cent increase in the number of transactions and a 124 per cent rise in expenditure between the first and last six months of 2020. "The gaming segment saw a phenomenal 100 per cent increase in expenditure and a 154 per cent increase in average ticket size between the two years," the report said.
As per the Financial Stability Report released by the Reserve Bank of India (RBI), the NPAs of the banking sector were projected to surge to 13.5 per cent of advances by September 2021, from 7.5 per cent in September 2020, under the baseline scenario.
In the fiscal year gone by, LIC achieved its highest ever First Year Premium Income of Rs.56,406 crores under Individual Assurance Business with a 10.11% growth over last year.
Narasimham joined the RBI as a research officer and then went on to serve the Indian government. He was an additional secretary at the Department of Economic Affairs, and was also in the Finance Ministry prior to economic liberalisation in the 90s.
Such new to credit customers were historically difficult to assess because they have no formal credit history. But they are the fastest growing borrower group for banks to tap, though lenders were cautious in giving them loans as there was no way to assess their default probability.
Over the years, BlackSoil’s focus has been increasingly towards venture debt to VC-backed growth companies & structured debt to growth small and medium enterprise (SME) companies.
A data breach in the servers of Domino’s, the pizza brand, has allegedly exposed sensitive information of its Indian users, according to Israel-based cybersecurity firm, Under The Breach.