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RBI Imposes Rs 75 Lakh Penalty On HDFC Bank For Breach Of Norms
The Reserve Bank of India (RBI) has imposed a penalty of Rs 75 lakh on HDFC Bank, the country's largest private sector lender, for not complying with directions in the RBI's Know Your Customer (KYC) master direction, according to officials.
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High Employee Attrition of 25% In Private Banks Pose Operational Risk: RBI Report
Employee attrition in private sector banks has witnessed an increase to about 25 per cent and this high turnover rate poses significant operational risk, according to the latest Report on Trend and Progress of Banking in India 2023-24.
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15,000 Crore Of Vijay Mallya, Nirav Modi's Assets Restored To Banks: Centre
Properties worth Rs 14,131 crore - that once belonged to Vijay Mallya - have been seized and handed to public and private sector banks to pay off a part of the fugitive businessman's substantial debts, Finance Minister Nirmala Sitharaman said.
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Gurugram Bank Employee Opens Fake Accounts For Fraudsters To Meet Targets, Arrested
Police have arrested a deputy manager of a private sector bank from Mumbai who allegedly opened fake bank accounts for fraudsters to meet his targets, officials said.
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Kotak Mahindra Bank Joint MD KVS Manian Resigns
Kotak Mahindra Bank on Tuesday announced that its joint managing director KVS Manian, a veteran at the private sector lender, has stepped down with immediate effect.
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Axis Bank Credit Card Users Impacted By Fraudulent Transactions: Report
Several customers having Axis Bank credit cards have been impacted by fraudulent overseas transactions, a senior official from the third largest private sector lender said today.
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Public Sector Banks Managing NPAs Better Than Private Sector: FICCI Survey
Public sector banks in India are doing better in comparison to their private sector counterparts in terms of non-performing assets, a survey conducted by industry body FICCI and banking association Indian Banks' Association (IBA) found.
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A $21 Billion Indian Banks Stock Rout Signals Heyday May Be Over
The outlook has quickly soured for India's $433 billion banking sector after a rare selloff in HDFC Bank Ltd., the country's biggest private sector lender.
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RBI Governor Says "Closely" Watching High Attrition At Some Private Banks
RBI Governor Shaktikanta Das on Tuesday said attrition is seen to be high at some private sector banks and that the central bank is watching the issue "closely".
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Kotak Mahindra Bank Clarifies No Communication From RBI On Succession Plan
Private sector lender Kotak Mahindra Bank on Monday said it has not received any communication from the Reserve Bank on the succession of its executive officer (CEO).
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Competitors or Collaborators: The Way Ahead for FinTech Firms and Traditional Banks
In the next five years, FinTech is expected to grow at a compound annual growth rate (CAGR) of 22 percent. Funding for FinTech companies in India through IPOs, M&As, and private funding rounds increased by 3x in 2021. The numbers tell a great story, but it seems that we’re only getting started. To fully understand the national reshaping across t...
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Cryptocurrency Bill Withheld from Parliament, Reports Citing Sources Say
Regulations on the crypto sector in India have been postponed for now, as the government has decided to see how the other nations are planning on doing the same. The crypto bill seeking operational prohibitions on private cryptocurrencies did not reach the parliament in this winter session.
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Yes Bank Founder Rana Kapoor's Wife, Daughters Denied Bail In Corruption Case By CBI
The Bombay High Court today refused to grant bail to Yes Bank founder Rana Kapoor's wife and two daughters in a corruption and cheating case involving private sector lender Dewan Housing Finance Corporation Ltd (DHFL).
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IIM Ahmedabad, Bank Of America To Set Up Centre For Digital Transformation
The Centre aims to become a knowledge hub for academia, policymaking, and the private sector by facilitating cutting-edge research on digital transformation and innovation, IIM Ahmedabad said.
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European Central Bank to Launch Digital Euro Project: All We Know So Far
The European Central Bank (ECB) is set to give the green light to a multi-year project to create a digital version of the Euro. An electronic equivalent of banknotes and coins, the digital Euro will likely be a digital wallet that euro zone citizens can keep at the ECB.
-
RBI Imposes Rs 75 Lakh Penalty On HDFC Bank For Breach Of Norms
The Reserve Bank of India (RBI) has imposed a penalty of Rs 75 lakh on HDFC Bank, the country's largest private sector lender, for not complying with directions in the RBI's Know Your Customer (KYC) master direction, according to officials.
-
High Employee Attrition of 25% In Private Banks Pose Operational Risk: RBI Report
Employee attrition in private sector banks has witnessed an increase to about 25 per cent and this high turnover rate poses significant operational risk, according to the latest Report on Trend and Progress of Banking in India 2023-24.
-
15,000 Crore Of Vijay Mallya, Nirav Modi's Assets Restored To Banks: Centre
Properties worth Rs 14,131 crore - that once belonged to Vijay Mallya - have been seized and handed to public and private sector banks to pay off a part of the fugitive businessman's substantial debts, Finance Minister Nirmala Sitharaman said.
-
Gurugram Bank Employee Opens Fake Accounts For Fraudsters To Meet Targets, Arrested
Police have arrested a deputy manager of a private sector bank from Mumbai who allegedly opened fake bank accounts for fraudsters to meet his targets, officials said.
-
Kotak Mahindra Bank Joint MD KVS Manian Resigns
Kotak Mahindra Bank on Tuesday announced that its joint managing director KVS Manian, a veteran at the private sector lender, has stepped down with immediate effect.
-
Axis Bank Credit Card Users Impacted By Fraudulent Transactions: Report
Several customers having Axis Bank credit cards have been impacted by fraudulent overseas transactions, a senior official from the third largest private sector lender said today.
-
Public Sector Banks Managing NPAs Better Than Private Sector: FICCI Survey
Public sector banks in India are doing better in comparison to their private sector counterparts in terms of non-performing assets, a survey conducted by industry body FICCI and banking association Indian Banks' Association (IBA) found.
-
A $21 Billion Indian Banks Stock Rout Signals Heyday May Be Over
The outlook has quickly soured for India's $433 billion banking sector after a rare selloff in HDFC Bank Ltd., the country's biggest private sector lender.
-
RBI Governor Says "Closely" Watching High Attrition At Some Private Banks
RBI Governor Shaktikanta Das on Tuesday said attrition is seen to be high at some private sector banks and that the central bank is watching the issue "closely".
-
Kotak Mahindra Bank Clarifies No Communication From RBI On Succession Plan
Private sector lender Kotak Mahindra Bank on Monday said it has not received any communication from the Reserve Bank on the succession of its executive officer (CEO).
-
Competitors or Collaborators: The Way Ahead for FinTech Firms and Traditional Banks
In the next five years, FinTech is expected to grow at a compound annual growth rate (CAGR) of 22 percent. Funding for FinTech companies in India through IPOs, M&As, and private funding rounds increased by 3x in 2021. The numbers tell a great story, but it seems that we’re only getting started. To fully understand the national reshaping across t...
-
Cryptocurrency Bill Withheld from Parliament, Reports Citing Sources Say
Regulations on the crypto sector in India have been postponed for now, as the government has decided to see how the other nations are planning on doing the same. The crypto bill seeking operational prohibitions on private cryptocurrencies did not reach the parliament in this winter session.
-
Yes Bank Founder Rana Kapoor's Wife, Daughters Denied Bail In Corruption Case By CBI
The Bombay High Court today refused to grant bail to Yes Bank founder Rana Kapoor's wife and two daughters in a corruption and cheating case involving private sector lender Dewan Housing Finance Corporation Ltd (DHFL).
-
IIM Ahmedabad, Bank Of America To Set Up Centre For Digital Transformation
The Centre aims to become a knowledge hub for academia, policymaking, and the private sector by facilitating cutting-edge research on digital transformation and innovation, IIM Ahmedabad said.
-
European Central Bank to Launch Digital Euro Project: All We Know So Far
The European Central Bank (ECB) is set to give the green light to a multi-year project to create a digital version of the Euro. An electronic equivalent of banknotes and coins, the digital Euro will likely be a digital wallet that euro zone citizens can keep at the ECB.
