Tag Archives: Banks’

Banks Still Grapple With Huge Rush, Most ATMs Run Dry

New Delhi: Banks still struggle to manage huge rush of people thronging branches across the country to exchange invalid currency notes and get cash to meet their daily needs. Despite some ATMs getting calibrated to dispense Rs. 500 notes, such vending machines are running out of cash because of huge pressure of withdrawal. Queues at some branches in the metro ... Read More »

HDFC Bank’s Aditya Puri In Fortune’s List Of Top 50 Business Persons Globally

  Mumbai: HDFC Bank’s Aditya Puri has been ranked 36th in the US magazine Fortune’s top 50 business persons list for 2016, and is the only Indian among three persons of Indian origin in the global rankings. Mr Puri, who has led the second largest private sector lender since its inception in 1994, has been ranked 36th in the list, ... Read More »

RBI Says Enough Cash Available As Crowds Throng Banks

  Mumbai: The Reserve Bank of India (RBI) on Sunday urged savers to not hoard money as public anger mounted over the government’s shock decision to withdraw large denomination notes in an attempt to expose undeclared wealth. Thousands of people were again standing outside banks across the country trying to change Rs. 500 and Rs. 1,000 bills the government abolished ... Read More »

Furnish Daily Data On Cash Withdrawals: RBI To Banks

The RBI has asked banks to submit the data in a specific format. Mumbai: The Reserve Bank of India (RBI) asked banks to submit daily amounts of cash withdrawn from over the counter as well as through automated teller machines to help it gather accurate data on the circulation of currency. In a circular on Sunday, it asked banks to ... Read More »

Fear Of CBI ‘Bizarre’, Apply Wisdom In Funding Bad Loans: Panel To Banks

New Delhi: Finding banks working under the fear of Central Bureau of Investigation (CBI) and Central Vigilance Commission (CVC) as “bizarre”, a Parliamentary panel has asked lenders to take a decision on financing of stressed assets as per their “own wisdom” and on the basis of the project’s viability. Finding that total non-performing assets (NPAs) of Rs 2.6 lakh crore ... Read More »

Raghuram Rajan Asks Banks To Improve Cyber Security Systems

RBI chief Raghuram Rajan urged lenders to take a “fresh look” at their security architecture. Mumbai: In the wake of increased instances of cyber attacks, Reserve Bank of India Governor Raghuram Rajan on Tuesday said the central bank is improving its capabilities and also urged the lenders to strengthen their systems. “There have been cyber incidents in the recent past. ... Read More »

RBI Imposes Penalty On Four Cooperative Banks

Mumbai: The Reserve Bank of India has imposed penalties of up to Rs 5 lakh on four cooperative banks for violation of various norms. The RBI said it has imposed a monetary penalty of Rs 5 lakh on The Cooperative City Bank, Guwahati, for flouting KYC (know your customer) norms and non-adherence to requirements relating to identification and reporting of suspicious transactions. A penalty of Rs ... Read More »

RBI Warns Banks Of Stern Action For Mis-Selling Of Insurance Products

Mumbai: In a stern message to banks, Reserve Bank of India Deputy Governor S S Mundra on Tuesday said the central bank is “deeply concerned” about mis-selling of insurance products, warning that it may press for making penal provisions more stringent to deal with the problem. “There is one area in customer service where we’re getting deeply concerned. This is ... Read More »

Government Planning Hike in FDI for PSU Banks: Report

New Delhi: The government is planning to increase the foreign investment limit in public sector banks to 49 per cent from 20 per cent with a view to attract overseas inflows. The Finance Ministry is looking into the proposal, sources said adding it may be announced in the forthcoming Budget 2016-17. If the government accepts this proposal, it would lead ... Read More »

PSU Banks Book Highest Ever Loss as Bad Loans Mount

New Delhi: Hit hard by mounting non-performing assets (NPAs) or bad loans, many leading public sector banks, including Bank of Baroda, Bank of India and IDBI Bank, reported their highest ever quarterly losses aggregating to over Rs. 12,000 crore, while others like State Bank of India (SBI) and Punjab National Bank (PNB) witnessed sharp erosion in profits. Bank of Baroda ... Read More »