Tag Archives: Banks’

Banks’ loans rose 5.8% in two weeks to December 9: Reserve Bank

Indian banks’ loans rose 5.8 per cent in the two weeks to Dec. 9 from a year earlier, while deposits rose 15.9 per cent, the Reserve Bank of India’s weekly statistical supplement showed on Friday. Outstanding loans rose by Rs. 46830 crore to Rs. 73.39  lakh crore in the two weeks to December 9. Non-food credit rose Rs. 38,690 crore ... Read More »

Xiaomi India Offers Discounts on Mi 5, Mi Power Banks, and More in Mi Christmas Sale

Xiaomi has announced that it will offer discounts on products such as the Mi 5 smartphone, Mi Power Banks, and Mi In-Ear Headphones Pro Gold as part of the Mi Christmas sale. The discount offers on these Xiaomi products will be available on the company’s online store, Mi.com/in, from December 19 to December 21. Under the Mi Christmas offer, interested ... Read More »

‘Indian Banks Take More Risk During Upturn In Credit Growth’

New Delhi: Indian banks tend to take more risks during times of higher credit growth while the non performing loans of private sector lenders are more reactive to changes in interest rates, says a working paper released by Switzerland-based BIS. Titled ‘Bank lending and loan quality: the case of India’, the working paper said the non-performing loans (NPLs) of private ... Read More »

‘Indian Banks Take More Risk During Upturn In Credit Growth’

New Delhi: Indian banks tend to take more risks during times of higher credit growth while the non performing loans of private sector lenders are more reactive to changes in interest rates, says a working paper released by Switzerland-based BIS. Titled ‘Bank lending and loan quality: the case of India’, the working paper said the non-performing loans (NPLs) of private ... Read More »

Banks Must Keep Deposits Record Of Scrapped, Valid Notes, Says Government

s New Delhi: To avoid any malpractices, the government has asked all public sector banks to strictly maintain a record of deposits made through both old Rs. 500 and Rs. 1,000 notes and other valid currencies. In a letter written to chief executive officers of public sector banks, the Finance Ministry asked that “maintenance of records regarding deposit of Specified Bank Note (SBN) and Non-SBN, as ... Read More »

RBI Denies Taking Action Against Cancelling Axis Bank’s Licence

Amid rumours that India’s third biggest private sector lender- Axis Bank could lose its licence over alleged money laundering activities involving the suspended employees, the Reserve Bank of India clarified that it has not initiated any action to cancel the banking licence of Axis Bank. “The Reserve Bank of India today clarified that it has not initiated any action to ... Read More »

Demonetisation: RBI Seeks Details Of Fake Currency From Banks

Mumbai: To ascertain the amount of counterfeit currency, the Reserve Bank has asked all banks to send details of all fake notes detected during exchange and deposits of defunct old high-value notes post demonetisation. Banks are required to send details of fake currencies in three different dates, the first of which is December 16. The RBI in an advisory issued ... Read More »

Banks Receive Rs 12.44 Lakh Crore Of Old, Invalid Notes So Far, Says RBI

Mumbai: Banks have taken back Rs 12.44 lakh crore ($184.24 billion) of high-value currency that the government abruptly abolished last month, Reserve Bank of India Deputy Governor R Gandhi said on Tuesday. That represents about 80 percent of the Rs 15.44 lakh crore in 500- and 1,000-rupee notes that were circulating before Prime Minister Narendra Modi abolished them on Nov. ... Read More »

Digital Payments Push: Single UPI Platform In Offing For Banks

New Delhi: In order to promote digital transactions, an upgraded Unified Payments Interface for banks is in the offing that will provide a cost effective and secured option, a senior finance ministry official has said. A single UPI platform is being developed for all banks as against the existing system of individual platform, the official said. Currently, about 30 banks ... Read More »

Demonetisation: Ola Partners With Banks, Oil Companies to Help Drivers Go Cashless to Buy Fuel

Cab aggregator Ola on Wednesday announced that it has joined hands with leading banks and oil and gas companies to help driver-partners fight cash crunch post demonetisation of high value currency notes. In Bengaluru, Ola has partnered with BPCL to facilitate the process of obtaining fuel e-vouchers across all BPCL petrol pumps in the city, Ola said in a statement ... Read More »