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RBI cuts banks’ CRR by 50bps to ease liquidity conditions, keeps rates unchanged, lowers GDP growth target
The RBI sharply cut the GDP growth projection to 6.6 per cent from...
Canara Bank gets RBI nod for life insurance & MF stake divestment
Reserve Bank of India on Thursday has accorded approval to our bank...
India offers huge potential for digital banks: Report
Leading consultancy BCG said in the report on Wednesday that the revenue opportunity in India, which has a population of 130 crore people, was pegged at being up to ten times higher than that of rest of South East Asia.
State-owned banks getting ready for privatisation may come out with VRS
Finance Minister Nirmala Sitharaman while unveiling Budget 2021-22 on February 1 had announced that the government proposed to take up the privatization of two public sector banks (PSBs) and one general insurance company.An attractive VRS will make them lean and fit for takeover by the private sector entities that are keen to enter the banking space, the sources said.
IndusInd Bank to raise climate financing to 3.5% in 2 years
The bank will be increasing the allocation of capital towards climate finance to 3.5 per cent of its loan book over the next two years, which is currently at 2.7 per cent, IndusInd Bank said on the occasion of the World Environment Day.
RBI keeps rates at record low on virus fallout, projects retail inflation at 5.1%
According to Das, upside risks to inflation emanates from persistence of second COVID wave and consequent restrictions on activity on a virtually pan-India basis.
“In such a scenario, insulating prices of essential food items from supply side disruptions will necessitate active monitoring and preparedness for coordinated, calibrated and timely measures by both Centre and state governments to prevent emergence of supply side bottlenecks and increase in retail margins,” the governor said.
Niti Aayog submits names of PSU banks to be privatised to Core Group of Secretaries on Disinvestment
Industry sources say the likely names are Mumbai based Central Bank and Pune based Bank of Maharashtra.
Following the clearance from the Core Group of Secretaries, headed by the Cabinet Secretary, the finalised names will go to Alternative Mechanism (AM) for its approval and eventually to the Cabinet headed by the Prime Minister for the final nod.
Changes on the regulatory side to facilitate privatisation would start after the Cabinet approval.
HDFC Bank commits to becoming carbon neutral by 2031-32
The bank has a three-pronged strategy to achieve its objective to become carbon neutral: Reduce consumption, transition to renewable energy, and offset carbon footprint.
Petitions filed in SC seeking contempt of court proceedings against the RBI Governor, others
The respondents, Reserve Bank of India (RBI) Governor, Shaktikant Das, Chief Executive of Indian Banks Association (IBA) were duty-bound to promulgate and ensure the compliance of the order of this court throughout the country but they deliberately didn’t, the petition said.
The Supreme Court’s order, dated September 3, 2020, was operational on all lending institutions/banks throughout the country and was passed in favour of all borrowers accounts to grant relief from financial stress during the COVID-19 pandemic, said the petition.
Home loan tenure of up to 10 years most preferred: Survey
The sample size of the survey is 500, it said.”The period of up to 10 years is the most preferred duration of home buyers with 26 per cent of the respondents giving the nod for it. It was followed by 10-15 years (25 per cent) and 15-20 years (23 per cent) as the next most preferred tenures for home loans,” Magicbricks said in a statement.
Cyber crime is growing risk to bank ratings: S&P
Cyber attacks can harm credit ratings mainly through reputational damage and potential monetary losses, it said in a report titled ‘Cyber Risk In A New Era: The Effect On Bank Ratings.’
“Cyber attacks have had only a limited effect on bank ratings to date but can trigger more rating actions in the future as cyber incidents become more frequent and complex,” said Credit Analyst Irina Velieva.
Will bankers embrace sensors under their desks when they return to work?
But not everyone can return at once: banks will have to extend practices like those used for small teams of traders during the pandemic. Shifting rotations of people will pass through giant buildings on different days, without clustering in the same areas on the same floors, to avoid spreading COVID-19. Some of the banks are implementing systems where employees will book “hot seats” on particular days and be monitored while they are sitting at them, sources said.
In some buildings, that could mean cameras that monitor a room’s occupancy level and even sensors that tell building management whether someone is sitting at a desk. “That feels a little personal,” one bank employee said about desk sensors.