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RBI given more powers to tackle NPAs, says Jaitley

RBI given more powers to tackle NPAs, says Jaitley

President Pranab Mukherjee last night signed the ordinance to amend the Banking Regulation Act, giving RBI powers to direct banks to initiate insolvency and bankruptcy in case of default, he told reporters here.

Govt gives wide-ranging powers to RBI to deal with bad loans

Govt gives wide-ranging powers to RBI to deal with bad loans

The much-awaited Ordinance to amend the Banking Regulation Act was promulgated by President Pranab Mukherjee last night.

President likely to promulgate banking ordinance today

President likely to promulgate banking ordinance today

President Pranab Mukherjee is likely to promulgate tomorrow an ordinance giving greater powers to the Reserve Bank to tackle mounting bad loans, a top source said.

Parliamentary panel wants banks to devise mechanism to detect NPAs early

Parliamentary panel wants banks to devise mechanism to detect NPAs early

Concerned over high level of bad loans in the banking system, a parliamentary panel has asked PSU banks to devise a mechanism to detect stressed assets early so that urgent corrective steps can be taken.

Demonetisation: Private entities to analyse data vis-a-vis ITR, TDS

Demonetisation: Private entities to analyse data vis-a-vis ITR, TDS

With an estimated Rs 15 lakh crore in junked notes back in the banking system post demonetisation, the Income Tax department has started the process of engaging private entities to match the data with I-T return or other information of assessees.

Tax dept to rope in auditors to probe bank deposits

With an estimated Rs 15 lakh crore back in the banking system post demonetisation, the income tax department is in talks with leading global tax consultants, including EY, KPMG and PricewaterhouseCoopers, for forensic audit of the data to see if any of it is laundered money.

India Inc nets Rs 6.3 lakh crore from markets, eyes on capital markets

India Inc nets Rs 6.3 lakh crore from markets, eyes on capital markets

With debt instruments leading the way, Indian companies have garnered an estimated Rs 6.3 lakh crore from the marketplace in 2016.

Demonetisation: Farmers can draw Rs 25,000 per week against crop loan, kissan credit card

Demonetisation: Farmers can draw Rs 25,000 per week against crop loan, kissan credit card

Coming to the rescue of the farmers who are facing huge cash crunch following PM Modi's decision to demonetise the high value currency notes, Finance Ministry on Thursday said that they can draw upto Rs 25,000 a week.

Demonetisation: New Rs 500 notes in Odisha from today

Demonetisation: New Rs 500 notes in Odisha from today

Reserve Bank of India, Bhubaneswar has said new Rs 500 notes will be available in different bank counters across Odisha from Thursday and urged people to ignore rumours on circulation of fake Rs 10 coins.

Demonetisation: Bank deposit to see sharp decline once withdrawal norms ease

Demonetisation: Bank deposit to see sharp decline once withdrawal norms ease

With about Rs 4 lakh crore coming into the banking system within a week after demonetisation, Moody's Investors Service on Wednesday cautioned that banks' deposit base will witness a "sharp decline" as and when the current restriction on cash withdrawals eases.

Banks moving past worst asset quality cycle, outlook stable: Moody's

Banks moving past worst asset quality cycle, outlook stable: Moody's

India's banking system outlook is likely to be stable over the next 12-18 months as the pace of formation of bad loans is expected to decrease compared to last five years, global rating agency Moody's said Monday.

FM Arun Jaitley to review performance of state-run banks today

FM Arun Jaitley to review performance of state-run banks today

Finance Minister Arun Jaitley is undertaking a quarterly performance review of state-run banks here on Friday not just to see the progress of various financial inclusion schemes, but also look at the overall health of the banking system, officials said.

MF exposure in bank stocks hits a record at Rs 94,000 cr

MF exposure in bank stocks hits a record at Rs 94,000 cr

Mutual funds ramped up their allocation for bank stocks to a record high of nearly Rs 94,000 crore by June-end, primarily on account of steps taken by the government and RBI to clean up the banking system.

'Raghuram Rajan being attacked for fighting crony capitalism'

'Raghuram Rajan being attacked for fighting crony capitalism'

Rajan has been under attack from the ruling party BJP's Rajya Sabha MP Subramanian Swamy, among others, for what they term as the RBI Governor's failure to effect necessary interest rate cuts to boost the economy.

Government to crack down on savings scams as PM Modi backs banking for all

Government to crack down on savings scams as PM Modi backs banking for all

New Delhi: India plans legislation to close a regulatory loophole that has made it possible for fraudsters to dupe millions of savers, as Prime Minister Narendra Modi strives to bring the rural poor into the mainstream banking system.

RBI to announce new credit policy tomorrow

Share Bazar, Mandi Live, Aap Ka Bazar, First Trade, Big Debate etc.

Banks impaired asset ratio to rise to 12.5% by FY17: Ind-Ra

Stressed assets in the banking system is likely to rise to 12.5 percent by the next fiscal against an estimated 12 percent in the current financial year, India Ratings said today.

New banks to complement existing banking system: Chanda Kochhar

New banks to complement existing banking system: Chanda Kochhar

Ruling out any competition to full-service banks from payments and small finance banks, top banker Chanda Kochhar has said they can actually complement the existing banking system and ICICI Bank will explore opportunities for mutually beneficial partnerships.

MP govt gears up to launch financial literacy project in schools

Madhya Pradesh government is all set to launch financial literacy in all higher secondary schools of the state.

Need to check flaws in banking system: Rajan

Need to check flaws in banking system: Rajan

The banking sector is currently struggling with high non performing assets (NPAs).