Page 2 - Banking

Ration shops to double up as financial service providers in Chhattisgarh

Besides banking correspondent services through tie-ups with banks, the shops will be allowed to sell other commodities and general store items

Euro zone banks return nearly $308 billion in cheap ECB funding

The move is part of ECB efforts to fight record-high inflation in the euro zone by raising the cost of credit and it is its first step towards mopping up even more liquidity

We do much more than just enable payments: PayNearby CEO Anand K Bajaj

'We want to make India a more inclusive and empowered nation'

Borrowing costs bite: Interest-rate surge hurts corporate profits

Interest expenses of listed firms (ex-BFSI) were up 18.5% YoY in Q2FY23

Digital Banking Units to boost financial inclusion: All you need to know

Karnataka, Tamil Nadu, Uttar Pradesh, Odisha and Rajasthan will get four DBUs each, followed by Gujarat, Kerala, Madhya Pradesh, Maharashtra, Punjab, Sikkim and Telangana, with three DBUs each

Replacing 'phone banking' with 'digital banking' promoted growth: PM Modi

Prime Minister Narendra Modi on Sunday attributed India's sustained economic growth to the efforts of the BJP government to replace pre-2014 'phone banking' with 'digital banking'. Referring to the previous UPA regime, he said under 'phone banking', instructions were given on phone to banks regarding whom they had to lend to and at what terms and conditions. "The economy of any country is as progressive as its banking system is strong," the Prime Minister said after dedicating 75 Digital Banking Units (DBUs) to the nation via video-conference. Observing that the country has shifted from the pre-2014 'phone banking' system to digital banking in the last eight years, he said "as a result, India's economy is moving forward with a continuum." Modi said before 2014, the banks used to get phone calls to decide their functioning, and added "phone banking politics had made the banks unsafe and made the country's economy insecure by sowing the seeds of thousands of crores of scams." The ..

Banking sector medium of good governance, better service delivery: PM Modi

Emphasizing India's strides towards financial inclusion and digital economy, PM Narendra Modi said banking sector has become a vehicle for good governance and better service delivery in the country.

EVs, green hydrogen to soon come under priority sector lending: Report

Currently, 8 sectors are eligible to get lending under the PSL mechanism including agriculture, MSMEs, export credit, housing, education, renewables, and social infrastructure sectors

HDFC Bank is now ten times bigger than the crisis-struck Credit Suisse

Along with HDFC Bank, several Indian banks have a higher m-cap than the crisis-struck Swiss bank, including ICICI Bank, SBI, Kotak Mahindra Bank, Axis Bank and IndusInd Bank

'Upper layer' NBFC tag for Tata Sons calls for a new compliance policy

Tata Sons will have to appoint a new chief compliance officer (CCO)

Rs 7K-crore NPA sale to NARCL by Q4: IDBI Bank MD & CEO Rakesh Sharma

'We have identified accounts worth Rs 11,000 crore, of which Rs 4,000 crore is technically written off', said Sharma

KKR seeks advisers to sell stake in Avendus Capital, says report

The private equity titan is close to appointing two banks to manage the formal process for the transaction, the people said, asking not to be named as the information is not public

HDFC Bank to open 207 branches in Maharashtra, hire more than 3,000

The smart banking lobbies will be set up in 16 districts and will be operational 24 hours and 7 days

China regulator launches new probe into banks' property loan exposure

The China Banking and Insurance Regulatory Commission (CBIRC) is looking at banks' loan book exposure to developers to find out if those credit decisions were made according to the rules

China hits 'liquidity trap' as low lending rates fail to spur bank loans

China's Central bank data showed a sharp slowdown in aggregate financing, a broad measure of credit, in July, as new loans and corporate bond issuance weakened

What is the 'Letter of Comfort' banned by the Reserve Bank of India?

The ban imposed by the RBI may impact loans worth Rs 35,000 crore, impacting power, healthcare, engineering & construction, and road sectors the most

RBI Policy: How has inflation fared since the last monetary policy meeting?

Ever since the RBI MPC started to hike the repo rate in May, CPI inflation has eased from 7.79 per cent in April to 7.01 per cent in June

Pakistan curbing interbank trade to contain dollar shortage: Report

State Bank of Pakistan asked commercial lenders to manage import-payment requests from their own inflows, such as exporter accruals and remittances

SAVE Group plans to hire over 5,000 employees in India this fiscal

The company, which has an employee strength of 1,646 people, plans to hire for various segments like sales, credit, operations and collection

TCS beats street estimates with 16.2% Q1 revenue growth; margins disappoint

The consolidated revenue of the IT major grew to Rs crore in the quarter under review from Rs 45,411 crore a year ago