Deutsche Bank gets nod to set up IFSC banking unit at GIFT City
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Deutsche Bank will set up its IFSC banking unit at India's first global financial centre in Gujarat.
The bank has received approval from the GIFT SEZ Authority to set up an IFSC banking unit at India's first International Financial Services Centre (IFSC) at
AU Small Bank eyes Universal banking status in 2-3 yrs, says MD-CEO
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Lender has rolled out platform to provide customers with a full-suite of digital banking services, including face-to-face interaction with a banker over video call
YES Bank eyes own asset reconstruction company, invites EoIs from investors
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In April, the RBI formed a 6-member panel headed by Sudarshan Sen, former ED, to carry out a comprehensive review of the working of ARCs in the financial sector ecosystem
Global banks unwind India currency trades worth billions after RBI warning
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The issue in focus is a flurry of currency swap trades that involved the banks converting rupee-denominated deposits into dollars that were then used to buy foreign sovereign debt
Banks' asset risks rise, but credit strength to stay intact: Moody's
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Asset risks for banks will rise in most parts of ASEAN and India as the region battles new waves of Covid infections amid low vaccination rates, according to a report by Moody's Investors Service
RBI hikes collateral free loans to SHGs under DAY-NRLM to Rs 20 lakh
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The Reserve Bank of India on Monday notified the enhancement of collateral free loans to self-help groups (SHGs) from Rs 10 lakh to Rs 20 lakh under DAY-NRLM
PNB Housing aims to bring corp loan book below Rs 10k cr by March 2022: MD
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PNB Housing Finance is targeting to reduce its corporate loan book to below Rs 10,000 crore by the end of this fiscal as it seeks to focus more on retail lending activities, according to a top company official.
The company's corporate lending stood at Rs 10,
HDFC Bank to hire 500 more employees this fiscal to expand MSME coverage
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Country's largest private sector lender HDFC Bank, which has a focus on the MSME sector, is hiring 500 more relationship managers this fiscal as the bank is expanding its coverage to 575 districts, a senior banker has said.
The headcount addition will take t
Rupee snaps 5-day winning streak, drops 11 paise against US dollar
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Halting its five-session winning run, the rupee on Monday declined by 11 paise to close at 74.26 (provisional) against the US dollar, tracking the firm American currency
Depositors of PMC, other banks to benefit from DICGC Bill: FM Sitharaman
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We want to make sure within 90 days depositors get the money so that small depositors who make up 98% of all depositors will get their money in time, she said
Indian bankers in talks as court rulings threaten over $6 billion in loans
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Any failure to recoup money adds to stress in banking sector, which is dealing with increased level of bad loans and reduced profits because of the impact of the pandemic
RBI's model on India's digital currency could come out by 2021-end
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RBI deputy governor T Rabi Sankar on Friday said, 'We are internally evaluating issues such as the scope, technology, distribution mechanism, and validation mechanism (of CBDC)'
RBI monetary policy is a stepping stone towards policy normalisation
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Growth commentary is more positive than last policy with rural demand expected to be resilient, exports expected to continue to do well and pick-up in the long awaited capex cycle
Reserve Bank of India raises retail inflation projection for FY22 to 5.7%
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The RBI on Friday raised the retail inflation projection for the current fiscal to 5.7 per cent on account of supply side impediments, firm crude oil prices and higher cost of raw materials.
RBI keeps rates unchanged amid policy dissent on lower-for-longer stance
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Policy makers voted 5-1 in favor of keeping the stance accommodative, a departure from the past when they were unanimous on the need to support growth amid the pandemic.
Rupee gains for fourth straight session, settles at 74.17 against USD
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The rupee settled for the day on a flat note and inched 2 paise higher to close at 74.17 (provisional) against the US currency, marking the fourth straight session of gains on Thursday.
RBI extends deadline for shifting of current accounts till Oct 31
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Reiterates stance on issue, indicating that it is in no mood to change the proposed rules, but will only allow for stretching the timeline for smoother implementation
