Banking & Financial Services

Credit Growth Of Banks At 6.6% In February, Lending Stronger Than Last Year: Report

Credit Growth Of Banks At 6.6% In February, Lending Stronger Than Last Year: Report

Edited by Nikita Prasad | Saturday March 06, 2021

The bank credit growth increased to 6.6 per cent in February, higher than 6.4 per cent recorded in the same month last year, returning to the levels observed in the early months of COVID-19

ICICI Bank Reduces Interest Rate On Home Loans To Lowest In 10 Years

ICICI Bank Reduces Interest Rate On Home Loans To Lowest In 10 Years

Edited by Nikita Prasad | Friday March 05, 2021

The country's leading private lender announced today that it has reduced its interest rate on home loans up to Rs 75 lakh to 6.70 per cent.

State-Run Banks Likely To See Bad Loan Additions Moderate: Morgan Stanley

State-Run Banks Likely To See Bad Loan Additions Moderate: Morgan Stanley

Reuters | Thursday March 04, 2021

Some of the country's state-owned banks have long struggled with a pile of bad loans, prompting the government to pump in more funds to shore up their balance sheets.

RBI Restricting Banks From Raising Stakes In Insurance Firms: Report

RBI Restricting Banks From Raising Stakes In Insurance Firms: Report

Reuters | Tuesday March 02, 2021

Reserve Bank of India rules allow banks to hold up to 50 per cent stakes in insurers and on a selective basis equity holdings can be higher but must eventually be brought down within a certain period.

State Bank Of India Reduces Home Loan Interest Rate To Record Low Of 6.7%

State Bank Of India Reduces Home Loan Interest Rate To Record Low Of 6.7%

Edited by Abhishek Vasudev | Monday March 01, 2021

State Bank of India, the country's largest lender, on Monday reduced its interest rate on home loans up to Rs 75 lakh to 6.70% from 6.8%.

Bank Holidays March 2021: Banks To Remain Shut For 11 Days

Bank Holidays March 2021: Banks To Remain Shut For 11 Days

Edited by Nirmalya Sen | Thursday February 25, 2021

Bank Holidays March 2021: In addition to five festival holidays, banks will also remain shut on four Sundays and two Saturdays

Centre Lifts Embargo On Granting Businesses To Private Banks: Nirmala Sitharaman

Centre Lifts Embargo On Granting Businesses To Private Banks: Nirmala Sitharaman

Edited by Peter Noronha | Wednesday February 24, 2021

"Private banks can now be equal partners in development of the Indian economy, furthering the government's social sector initiatives and enhancing customer convenience," Finance Minister Nirmala Sitharaman tweeted

RBI Has 'Major Concerns' Over Cryptocurrencies: Shaktikanta Das

RBI Has 'Major Concerns' Over Cryptocurrencies: Shaktikanta Das

Reuters | Wednesday February 24, 2021

The central bank told lenders in 2018 they could not offer any banking services to any cryptocurrency traders or exchanges, but the order was challenged in court and eventually reversed by the top court.

Markets Should Trust RBI, Says Shaktikanta Das

Markets Should Trust RBI, Says Shaktikanta Das

Reuters | Wednesday February 24, 2021

The Reserve Bank of India's assurances that it will ensure ample liquidity have failed to calm investors' nerves over the larger than expected 12.06 trillion rupees borrowing requirement, and the central bank has rebuffed their calls for a open market operations calendar.

RBI Caps Withdrawal Limit From Deccan Urban Co-operative Bank At ₹1,000 For Six Months

RBI Caps Withdrawal Limit From Deccan Urban Co-operative Bank At ₹1,000 For Six Months

Edited by Nikita Prasad (With inputs from Agencies) | Saturday February 20, 2021

The Reserve Bank has barred Deccan Urban Co-operative Bank from granting new loans or accepting deposits and customers cannot withdraw more than Rs 1,000 from their accounts for six months.

Top Courts Directs RBI To Finalise Regulations For Locker Management In Banks

Top Courts Directs RBI To Finalise Regulations For Locker Management In Banks

Press Trust of India | Friday February 19, 2021

The top court said people are hesitant to keep their liquid assets at home as "we are steadily moving towards a cashless economy."

4 Government Banks Shortlisted For Privatisation: Report

4 Government Banks Shortlisted For Privatisation: Report

Reuters | Monday February 15, 2021

The government is considering mid-sized to small banks for its first round of privatisation to test the waters.

Unitholders Gave Consent To Windup Six Schemes Of Franklin Templeton: Top Court

Unitholders Gave Consent To Windup Six Schemes Of Franklin Templeton: Top Court

Press Trust of India | Saturday February 13, 2021

Franklin Templeton Mutual Fund had closed six debt mutual fund schemes on April 23 last year citing redemption pressure and lack of liquidity in the bond market.

RBI Tightens Investment Rules For Shadow Banks From Non-FATF Compliant Jurisdictions

RBI Tightens Investment Rules For Shadow Banks From Non-FATF Compliant Jurisdictions

Reuters | Saturday February 13, 2021

The move comes days after the central bank had proposed tighter, bank-like regulation of the so-called shadow lending sector to prevent the turmoil caused by the collapse of an infrastructure financing firm in 2018.

SBI Plans To Double Its Home Loan Portfolio In Next Five Years

SBI Plans To Double Its Home Loan Portfolio In Next Five Years

Reuters | Wednesday February 10, 2021

The lender's home loan book has grown by five times in the last decade from 86,000 crore rupees in 2011.