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Four PSBs probing Jan Dhan account deposits: Arun Jaitley

Four PSBs probing Jan Dhan account deposits: Arun Jaitley

Four state-run banks are probing whether the money in some financial inclusion scheme Jan Dhan accounts was deposited by the account holders themselves, or by business correspondents to keep the number of zero-balance accounts low, Finance Minister Arun Jaitley said on Friday.

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.

Adhere to timeline on EMV chip based cards: RBI to banks

Adhere to timeline on EMV chip based cards: RBI to banks

RBI on Thursday asked banks to replace existing magnetic stripe only cards to EMV Chip and PIN cards by the deadline of December 2018 and no extension will be given.

Next round of capital infusion in PSBs post Q3 results

Next round of capital infusion in PSBs post Q3 results

Government has set parameters for public sector banks for receiving capital support and only those lenders which fulfil the criteria post third quarter results would be eligible for funds.

RBI asks banks to lay down clear policy on stressed asset sale

RBI asks banks to lay down clear policy on stressed asset sale

Amid rising NPAs, RBI on Thursday asked banks to put in place clear policies for sale of stressed assets to securitisation and reconstruction firms and secure two external valuation reports in case the exposure tops Rs 50 crore.

 

SC asks banks to respond to Vijay Mallya's plea against contempt notice

SC asks banks to respond to Vijay Mallya's plea against contempt notice

Giving ten days time to the SBI to file its response, the bench of Justice Kurian Joseph and Justice Rohinton Fali Nariman gave Mallya a week`s time to file his rejoinder as it directed the hearing of the matter on September 27, 2016.

Vijay Mallya deliberately concealing his assets, banks to SC

Vijay Mallya deliberately concealing his assets, banks to SC

Banks on Monday told the Supreme Court that Vijay Mallya deliberately didn't make full disclosure of his assets including 40 million dollars he received in February.

Bank of Baroda's total business takes Rs 90,000-crore hit in 2015-16

Bank of Baroda's total business takes Rs 90,000-crore hit in 2015-16

Shrinking loan portfolio and deposit base squeezed total business of state-owned Bank of Baroda (BoB) by nearly Rs 90,000 crore in 2015-16 despite a robust GDP growth of 7.6 percent during the fiscal.

RBI retains 'too big to fail' tag for SBI, ICICI Bank

RBI retains 'too big to fail' tag for SBI, ICICI Bank

RBI on Thursday retained 'too big to fail' tag for the state-owned SBI and private lender ICICI Bank for the second year in a row, calling them systemically important banks for 2016 requiring higher level of supervision.

SBI clears merger of associate banks with itself

SBI clears merger of associate banks with itself

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 Fear of CBI bizzare; apply wisdom in funding NPA: Panel to banks

Fear of CBI bizzare; apply wisdom in funding NPA: Panel to banks

Finding banks working under the fear of CBI and CVC as "bizzare", a Parliamentary panel has asked lenders to take decision on financing of stressed assets as per their "own wisdom" and on the basis of the project's viability.

Post offices to be converted into payment banks

Post offices to be converted into payment banks

Post offices across the country will be converted into "payment banks", Prime Minister Narendra Modi said on Monday.

Electronic banking transactions: Customer not liable if fraud due to bank's fault

Electronic banking transactions: Customer not liable if fraud due to bank's fault

Amid rise in cases of unauthorised electronic banking transactions, RBI has proposed that customer will have no or zero liability in case of fraud being committed because of bank's negligence or third breach.

RBI clears the decks for on-tap banking, bars big corporates

RBI clears the decks for on-tap banking, bars big corporates

Paving the way for entry of new players in banking sector, the Reserve Bank Monday heralded 'on tap' universal banking licence regime, but excluded large industrial houses from the purview though they can invest up to 10 percent in new banks.

Steel industry owes Rs 3,00,000 crore to banks

Steel industry owes Rs 3,00,000 crore to banks

The steel industry has outstanding loans of around Rs three lakh crore in various banks, thus making the sector one of the largest contributors to non-performing assets (NPA) in the country.

15 banks to come up with unified payment interface by July 31

15 banks to come up with unified payment interface by July 31

In the latest, around 15 banks (public and private) are preparing to come up with the unified payments interface (UPI) starting July 31. 

IOB, Central Bank to benefit from capital infusion: Moody's

IOB, Central Bank to benefit from capital infusion: Moody's

Indian Overseas Bank and Central Bank of India will benefit from the government's recent capital infusion as they have got a higher share as a proportion of their share capital, Moody's said on Monday.

SC issues notice to Vijay Mallya for not disclosing assets

SC issues notice to Vijay Mallya for not disclosing assets

The Supreme Court on Monday issued notice to Vijay Mallya on plea seeking contempt proceedings against him alleging that he has not given full details of his assets.

Vijay Mallya's loan default case: DRT to resume hearing on UBHL's plea countering banks

Vijay Mallya's loan default case: DRT to resume hearing on UBHL's plea countering banks

The Debt Recovery Tribunal in Bengaluru will resume its hearing Monday on the application filed by UBHL and Vijay Mallya seeking cross-examination the "shady" documents submitted by the consortium of bankers with regard to Rs 6,000 crore, which allegedly did not even have the seals of the parties.

Banks can't get 'blanket relief' from CBI, CVC actions: Raghuram Rajan

Banks can't get 'blanket relief' from CBI, CVC actions: Raghuram Rajan

Amid a clamour among bankers for immunity from action by agencies like CBI and CVC, Reserve Bank Governor Raghuram Rajan has disapproved of any "blanket sort of relief" but wants the decisions on loans given after appropriate due diligence to be protected.