Round up of the major headlines that dominated the Banking sector, nationally and internationally.
The government will pay banks a 2.5% commission to unlock the country’s massive stash of gold under a new monetisation scheme, the Reserve Bank of India (RBI) said, as the ambitious plan received a poor response from banks and customers.
Private sector RBL Bank today launched a platform to provide end-to-end banking services to the emerging entrepreneurial community.
The Reserve Bank of India has put in place a central fraud registry, which is a searchable database to help banks detect instances of fraud by borrowers early on, the central bank said in a notification on Thursday.
As the WEF debates ways to master the fourth industrial revolution, top banker Chanda Kochhar today said financial sector has rapidly adopted the new technology and ICICI bank is targeting total transactions worth Rs 80,000 crore through mobile banking by the end of this fiscal.
The Kotak group will launch a $500-600 million fund, along with the Canadian pension fund manager, to buy stressed assets on the books of India’s banks, two people familiar with the plan said.
Barclays Plc will shut its cash equities division in India, in line with a decision to exit this business across the Asian region, said two people familiar with the developments.
Securitisation will continue to be instrumental for the eight micro finance institutions turned small Indian finance banks, as it will take time for them to develop a retail deposit franchise, says a report by rating firm Moody's.
The Central Bureau of Investigation has registered a case of cheating and criminal conspiracy against two Gujarat-based private firms and others for allegedly causing a loss of Rs.38.53 crore to the Union Bank of India.
Private sector RBL Bank today launched a platform to provide end-to-end banking services to the emerging entrepreneurial community.
The Reserve Bank of India has put in place a central fraud registry, which is a searchable database to help banks detect instances of fraud by borrowers early on, the central bank said in a notification on Thursday.
As the WEF debates ways to master the fourth industrial revolution, top banker Chanda Kochhar today said financial sector has rapidly adopted the new technology and ICICI bank is targeting total transactions worth Rs 80,000 crore through mobile banking by the end of this fiscal.
The Kotak group will launch a $500-600 million fund, along with the Canadian pension fund manager, to buy stressed assets on the books of India’s banks, two people familiar with the plan said.
Barclays Plc will shut its cash equities division in India, in line with a decision to exit this business across the Asian region, said two people familiar with the developments.
Securitisation will continue to be instrumental for the eight micro finance institutions turned small Indian finance banks, as it will take time for them to develop a retail deposit franchise, says a report by rating firm Moody's.
The Central Bureau of Investigation has registered a case of cheating and criminal conspiracy against two Gujarat-based private firms and others for allegedly causing a loss of Rs.38.53 crore to the Union Bank of India.
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