Union Home and Cooperation Minister Amit Shah calmed some nerves regarding the mandate of the new Ministry of Cooperation while answering the first set of questions posed in Parliament on Tuesday by MPs regarding the ministry that was formed last month. Shah replied in the negative when asked if the government proposes to bring the … Read more
NEW DELHI: India’s plan to sell two state-controlled lenders may get deferred to next financial year as the government is yet to seek parliament’s nod for changes in laws required to start the transaction, according to people familiar with the matter. The finance ministry hasn’t finalized modalities to seek approval from lawmakers for the sale, … Read more
NEW DELHI: Nearly 17 months after the launch of the Emergency Credit Line Guarantee Scheme (ECLGS), banks have sanctioned Rs 2.76 lakh crore, with disbursals adding up to Rs 2.14 lakh crore till mid-July. Similarly, the PM SVANidhi scheme, providing loans of up to Rs 10,000 to street vendors, has seen flows of a little … Read more
NEW DELHI: Banks and other financial institutions have an exposure of $100 billion to real estate sector, of which 67 per cent are safe while the remaining loans are under pressure or severely stressed, according to real estate consultant Anarock. “At least 67 per cent (or approximately $67 billion) of the total loan advances ($100 … Read more
NEW DELHI: Swiss authorities have conveyed to the finance ministry that customer deposits held in Swiss banks are not necessarily located in Switzerland and also include deposits at their foreign branches, minister of state for finance Pankaj Chaudhary said on Tuesday. As per the latest data from the Swiss National Bank (SNB), funds parked by … Read more
NEW DELHI: Are citizens entitled to information on bank balances and borrowings by Tatas, Ambanis and Birlas under the RTI Act, the banks asked on Monday, while arguing before the Supreme Court that its judgment opening up confidential banking information through RTI would lay bare future business plans for which industrial houses seek credit lines. … Read more
India’s decision to ban Mastercard for non-compliance with data storage rules has unsettled the country’s financial sector as it will disrupt banks’ card offerings and hit revenues, payments, and banking industry executives told Reuters. Wednesday’s central bank order followed similar action in April against American Express, but Mastercard is a much bigger player in the … Read more
NEW DELHI: The finance ministry on Tuesday directed the Institute of Banking Personnel Selection (IBPS) to put on hold examination for clerical cadre in public sector banks (PSBs) till a final view is taken on conducting tests in regional languages. In order to look into the demand for holding examination for clerical cadre in PSBs … Read more
Representational image of Delhi Police. News18 Rajiv Rathee was nabbed from Gurgaon by the Economic Offences wing of the Delhi Police after it received complaints against him from two banks in March last year, they said. PTI New Delhi Last Updated:July 09, 2021, 21:02 IST FOLLOW US ON: The Delhi Police has arrested a 51-year-old … Read more
MUMBAI: The banking system’s gross non-performing assets are set to decline to at least 7.1 per cent by March 2022, as against 7.6 per cent at FY21-end, a domestic rating agency said on Wednesday. The NPAs will go lower on higher recoveries and upgrades, and also faster credit growth, Icra said, adding that the fresh … Read more