Banks general
SBI blocks 6 lakh debit cards over security breach
20 Oct 2016
State Bank of India has blocked six lakh debit cards following a security breach that occurred in a non-SBI ATM network and will replace these with new ones
Kamath calls for BRICS ratings agency to escape the clutches of Big 3
17 Oct 2016
New Development Bank president K V Kamath has mooted a BRICS-backed credit rating agency since the methodologies of the Big 3 global agencies constrain growth in emerging nations
Goldman Sachs launches personal loan service for small customers
15 Oct 2016
Consumers can take an unsecured no-fee, no-frills loan up to $30,000 for two to six years, at fixed interest rates depending on their credit score, history, and the tenure
ICICI Bank and Emirates NDB execute India’s first blockchain transaction
13 Oct 2016
Blockchain, which is an electronic transaction-processing and record-keeping system, allows all parties to track information through a secure network
Bank credit to industry grows at minus 0.2% in August
12 Oct 2016
The steady decline in bank credit to industry can be attributed to rising non-recovery of bank loans and pressure on banks to clean their books of non-performing assets
Singapore shuts Falcon Bank unit over money-laundering
12 Oct 2016
Singapore's central bank on Tuesday also slapped penalties on DBS and UBS in its biggest crackdown on alleged money-laundering activities connected with Malaysian sovereign fund 1MDB
Government looking at merger of two big PSU banks: report
12 Oct 2016
The near-term target is a merger of Bank of Baroda and Bank of India, which will then take over a smaller and weaker bank, a Reuters report quoted Bank Board Bureau chief Vinod Rai as saying
Indian banks’ bad loans mount to over Rs9,00,000 cr in June
12 Oct 2016
While bank NPAs grew 15 per cent between 1 January and 30 June 2016, the value of the assets held as collateral has been eroding, making it difficult to remedy the bad loan problem
RBI loosens classification norms for banks’ stressed assets
05 Oct 2016
Under this scheme, loans that companies find difficult to service can be restructured, providing for a longer repayment tenure, or waiving off a part of the debt so that companies are able to service their debt
MPC cuts RBI policy rate by 25 bps to 6.25%
04 Oct 2016
The MPC's decision to cut the policy repo rate comes despite a still-firm consumer price inflation in August when headline inflation stood at 5.05 per cent for the second month
Centre constitutes Insolvency and Bankruptcy Board of India
03 Oct 2016
Under the new law, creditors and shareholders would have powers to initiate a winding up process through the Insolvency and Bankruptcy Board at the first sign of financial stress such as serious default in repayment