Search result for Bank of India
The Rs. 2,000 note is being phased out of circulation but will remain valid currency until September 30.
A circular from the Reserve Bank of India dated May 19 announced the withdrawal of Rs 2,000 currency notes from circulation. The memo said that the notes will remain valid tender until September 30. According to the document, the RBI's "Clean Note Policy" necessitates the change. Th...
According to the RBI, SBI, ICICI Bank, and HDFC Bank continue to be domestic systemically important institutions.
The State Bank of India, ICICI Bank, and HDFC Bank are still considered to be Domestic Systemically Important Banks, according to a statement from the Reserve Bank of India on Monday (D-SIBs). The central bank had first released a framework for handling D-SIBs in July 2014, which obliged it to re...
3 NPA WORTH OVER RS 35 TEN-MILLION REPORTED AS FRAUD TO RBI
HIGHLIGHTS
- Indian Bank has reported three accounts as fraud to the RBI.
- The worth of these accounts is over Rs 35 ten-million.
Indian Bank has reported three accounts as fraud to the Reserve Bank Of India (RBI). The worth of these ac...
AMBANI TO PARTNER WITH FACEBOOK AND GOOGLE
HIGHLIGHTS
- Mukesh Ambani is going to forge a partnership with Facebook and Google.
- Three partners seek to obtain a license to enter India’s digital payments business.
Reliance Industries Ltd., led by Asia’s richest man Mu...
IKIGAI LAW RESPONDS TO DRAFT OF NATIONAL STRATEGY ON BLOCKCHAIN
HIGHLIGHTS
- In JAN 2021, the MEITY released a draft National Strategy on Blockchain.
- Identifying the potential for adoption of blockchain in IndiaThe draft strategy, the draft talks about envisaging creation of a 'National Level Blockchain Framewor...
INDIA LIKELY TO FACE CRYPTOCURRENCY BRAIN DRAIN DUE TO THE GOVERNMENT'S STAND
Highlights:
• Crypto domain exchanges and investors are losing hope in India
• Some experts still believe that there is hop...
SBI HAS NEW MANAGING DIRECTORS
HIGHLIGHTS
- In OCT 2020, the BBB recommended the names for the two posts of MDs at the SBI.
- Now Aswini Kumar Tewari and Swaminathan Janakiraman have been appointed as MDs.
- The term of both appointments is of three years each.
INDIAN GOVT. LOOKING AT BANNING CRYPTOCURRENCIES VIA BILL
Highlights:
• Reserve Bank of India is looking at setting up a framework to launch digital currencies
• Risks of the crypto...
RBI’S TO INITIATE RECOVERY IN MONEY-MARKET RATES VIA CASH TIGHTENING
HIGHLIGHTS
- The Reserve Bank of India aims to drain Rs. 2 trillion (equal to $27.3 billion) of banking funds.
- The 14-day reverse repo operation to drain the cash starts on 15 JAN 2021.
With Reserve Bank of India (RBI) taking first sma...
RBI SAYS INDIA FACED COVID WITH ROBUST ECONOMY
HIGHLIGHTS
- RBI released its bi-annual Financial Stability Report.
- The report stated that gross NPA of banks could rise to 13.5% by SEP 2021 from 7.5% in 2020.
- Following COVID-19, expansion in government‘s market borrowing programme wa...
COVID-19 AFFECTED 70% OF BANKING SECTOR DEBT
HIGHLIGHTS
- Due to COVID-19 outbreak, Indian government implemented a lockdown to prevent further spread of infection.
- With all economic activities coming to a halt, economy received a big time jolt.
- A report by the Reserve Bank of India has...
SPECIAL OMO OF GOVT SECURITIES WORTH RS 10,000 CRORE ANNOUNCED BY THE RBI
Highlights
• The RBI will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) on July 2, 2020
• As a temporary measure, the RBI has already increased the borrowing limit of scheduled banks under its MSF scheme
...
SBI PROFIT QUADRUPLES TO RS 3,581 CRORE IN MARCH QUARTER
Highlights
• In the last year’s March quarter, SBI had reported profit of Rs 838.40 crore
• According to the biggest public sector bank, total 21.8 percent customers of SBI have availed the loan moratorium announced by the RBI
On Friday, results for t...
KNOW ABOUT ASHWINI BHATIA, THE NEXT SBI MD RECOMMENDED BY BANKS BOARD BUREAU
Highlights
• Along with Ashwini Bhatia for SBI, MV Rao and PP Sengupta are also recommended by the BBB for the post of MD at the Central Bank of India and Indian Overseas Bank
• According to the official statement, BBB had interactions with 20 contenders from various...
RECOVERY HOPES FOR INDIAN ECONOMY NOW LIES ON RESERVE BANK OF INDIA
Highlights
- RBI’s interest rate decision due on Feb 6
- In terms of short-term growth stimulus, budget fell short
The budget 2020-21 was presented on February 1. It was presented by Finance Minister, Nirmala Sitha...
BANK OF INDIA GAINED PROFIT IN THIRD QUARTER
Highlights:
- Net profit accounts for Rs. 138.20 crores for December quarter 2019-20.
- Bad-loans has been reduced to Rs. 4,028.03 crores.
- Gross Non-performing Assets are at 16.30 percent in the same quarter.
On Friday, Bank o...
Banks select NBFCs for disbursement of loans
Mumbai: Banks in India are still hesitant to lend to non-bank financiers more than a year after Infrastructure Leasing and Financial Services Ltd's (IL&FS) defaults, and instead have found ways to circumvent government coaxing to raise lending to shadow banks, two people said, informed of...
The plan is expectedly giving NBFCs extra lending capacity
Whenever an individual or an organization has to keep its fiancés meet the ends banks are the saviors. The bank is an institution that runs to deal with all the issues that are based on the finances in the country. All the citizens are linked to banks and get benefit from that....
Digital India initiative has yet not worked as planed
While' Digital India ' has been a Modi government flagship initiative, digital divide caused by poor connectivity remains one of the major roadblocks in India's use of financial services. With technology becoming an important enabler for access to financial services, certain regions i...
Bad Loan Provisioning
Indian banks might have looked to the provision of bad debt for Dewan Housing Finance Corp(DHFL), Anil Ambani-led Reliance Home Finance, KKR-funded CD-Enterprises and CG Power for an additional Rs 30,000 crore against loans. The settlement in any of these accounts was not completed so that in the...