Page 9 - Indian Banking System

RBI keeps policy rates unchanged, stance accommodative: What experts think

Today's policy announcement comes amid signs of recovery in the economy badly battered by the coronavirus pandemic

RBI Policy: Most decision by Reserve Bank in line with expert views

The RBI sees India's real GDP contracting by 9.5 per cent in the ongoing fiscal year, and economic growth only turning positive in the final January-March quarter

Indian banks say govt interest waiver will add to costs, spark litigation

The change will waive the compounded interest component on small business loans and some personal debts from March to August

Regional rural banks incur net loss of Rs 2,206 crore in FY20: Nabard

Regional rural banks (RRBs) as a group reported net loss of Rs 2,206 crore in the fiscal year ended March 31, 2020, as against Rs 652-crore net loss in FY19, according to data published by Nabard

RBI okays appointment of CoD to run Dhanlaxmi Bank till appointment of CEO

Dhanlaxmi Bank on Thursday said that the RBI has approved a three-member interim committee of directors, headed by G Subramonia Iyer, to run the private sector bank after the shareholders voted out its MD and CEO Sunil Gurbaxani. The shareholders rejected the resolution for appointment of Gurbaxani as MD and CEO at the 93rd Annual General Meeting of the bank held on September 30. "Consequent to this, please note that Reserve Bank of India has, as requested by the Board of Directors, approved an interim arrangement for formation of a Committee of Directors to exercise the powers of Managing Director & CEO till such time a new MD & CEO takes charge," Dhanlaxmi Bank said in a regulatory filing. The committee of directors (CoD) will be constituted with Iyer as chairman and G Rajagopalan Nair and P K Vijayakumar as its members, it said. "As advised by RBI, the interim arrangement will not continue beyond four months within which the bank will complete the process of identification .

RBI extends enhanced borrowing limit for banks under MSF till March 31

RBI has extended the enhanced borrowing facility provided to banks by six months to meet liquidity shortage till March 31, 2021

Top headlines: Harley-Davidson exits India, S&P on Indian banking system

From BSE 500 index underperforming since March, GAIL cutting supplies after fire at ONGC plant to S&P on banking system recovery, Business Standard brings you top news of the evening

Untenable status quo

A new paper shows the need for urgency of PSB reforms

BBB recommends 13 names for appointment as executive directors in PSU banks

The Banks Board Bureau (BBB) has recommended to the government names of 13 general managers of various public sector banks (PSBs) for appointment as executive directors

For RBI, bank compliance officers are no Cleopatra

Is the appointment age of the chief compliance officer in a bank capped anywhere in the world?

New banking bill gives RBI powers to restructure co-operative banks

The new Banking Regulation (Amendment) Bill, 2020, introduced by the government on the first day of the Parliament's Monsoon Session, provides the RBI powers to restructure cooperative banks

Govt to infuse Rs 20,000 cr in public sector banks; seeks parliamentary nod

The government has infused Rs 3.5 trillion in PSBs in the last few years, with the previous round of recapitalisation taking place in September 2019

Artificial intelligence to make banking inclusive: Microsoft India head

Banking in the future will combine artificial and human intelligence (AI+HI) to be more collaborative, personalised, inclusive, deliver better products, Microsoft India President Anant Maheshwari said

Reserve Bank of India issues new compliance guidelines for banks

RBI issued new guidelines for banks to tighten their compliance functions and ensure that chief compliance officers follow the best industry practices as required by supervisory expectations

Indian private banks to gain market share from PSBs: Fitch Ratings

Indian private banks have had a decade of strong growth, reflected in much higher loan CAGR of 19.6%

Indian farmers driven to debt as banks turn risk-averse during pandemic

Agriculture accounts for near 15% of India's $2.8 trillion economy and is a source of livelihood for more than half of its 1.3 billion people

Bad bank not only necessary but unavoidable in present situation: Subbarao

D Subbarao made a strong case for setting up a bad bank saying it is not just necessary but unavoidable in the present circumstances when NPAs are likely to balloon

No funds available: Depositors at PMC Bank survive on loans, charity

The Reserve Bank of India took control of PMC last September after it was accused of fraud and concealing non-performing loans

Goa Bank Association demands safe working places; agitation from Sept 1

Goa Bank Employees' Association announced agitation from September 1 demanding Covid-19 safe working places alleging that there is no response from the concerned authorities

India's banking sector needs to grow for becoming $5 trillion economy: CEA

CEA K V Subramanian said that India's banking system is proportionately smaller than the size of the economy and it needs to grow for the country to become a $5 trillion economy