Banking & Bancassurance

2,118 branches of state-run banks closed or merged in last fiscal: RTI

Indian News       May 10, 2021

  Mumbai: As many as 2,118 branches of 10 public sector banks have either been closed or merged with other banks in the last fiscal, according to an RTI reply. The highest number of 1,283 branches of Bank of Baroda were either closed or merged, according...

RBI allows fresh moratorium for small borrowers as COVID-19 cases spike

Indian News       May 05, 2021

  Mumbai: India's central bank asked banks on Wednesday to let certain borrowers have more time to repay loans, among other support measures, amid a major second wave of COVID-19 infections in the country that has led to strict lockdowns in several states. The moratorium will...

RBI limits tenure of bank CEOs, MDs to 15 years, rule to be effective from October 1

Indian News       Apr 26, 2021

  Mumbai: The Reserve Bank of India (RBI) said on Monday chief executive officers and managing directors at Indian private-sector banks will be eligible to hold these posts for up to 15 years, as it unveiled a series of rules on term limits. Analysts welcomed the...

RBI to conduct customer satisfaction survey on bank mergers

Indian News       Apr 26, 2021

  Mumbai: The Reserve Bank of India (RBI) has decided to conduct a customer satisfaction survey to find out the impact of the recent mergers of state-owned banks on banking services being availed by individuals. Among other things, the respondents will be asked whether the merger...

Citigroup's retreat highlights global banks' struggle in China, India

International News       Apr 16, 2021

  Citigroup Inc.’s plan to exit its retail business in China and India underscores the frustrating battle for market share international banks face in two of Asia’s largest economies despite plowing in billions of dollars over the past decade. Increased rivalry from domestic lenders, especially in...

Investors line for new banking licenses

Indian News       Apr 16, 2021

  Mumbai: The Reserve Bank of India on Thursady, released the names of applicants under the Guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks. Applicants under guidelines for ‘on tap’ Licensing of Universal Banks are:UAE Exchange and Financial Services Limited,The Repatriates Cooperative...

Citi to exit consumer banking biz in India; to focus on institutional segment

Indian News       Apr 15, 2021

Mumbai: American banking major Citibank on Thursday announced exiting the high visibility consumer banking business in India as part of a global strategy. The consumer banking business comprises credit cards, retail banking, home loans and wealth management. The bank will be exiting the segment in...

SBI drags feet on loan to Adani firm for controversial Australian coal mine

Indian News       Apr 09, 2021

  Mumbai: India’s largest bank hasn’t decided whether to help finance an Australian coal mine following mounting pressure from climate activists and investors, including BlackRock Inc. Two senior State Bank of India executives, who asked not to be identified, said the bank was dragging its feet...

Axis Bank becomes a co-promoter of Max Life

Indian News       Apr 06, 2021

  New Delhi: Axis Bank, India’s third largest private sector bank, together with its subsidiaries Axis Capital Limited and Axis Securities Limited (collectively referred to as “Axis Entities”) have acquired 12.99 per cent stake in Max Life Insurance Company Limited (Max Life),fourth largest domestic private life...

Visa to allow payment settlements using cryptocurrency

Facts       Apr 02, 2021

  Visa Inc said it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry. Visa has launched the pilot program with payment and crypto platform...

1 2 3 4