Finance Minister Nirmala Sitharaman announces 4 mega bank mergers. FM said that the creation of next-generation banks was imperative for India to become a $5 trillion economy in the next five years. The reforms in the banking sector come after the government announced a slew of measures to revive growth in the Indian economy.
RBI has released Statement on Developmental and Regulatory Policies on 6th June 2019 which sets out various developmental and regulatory policy measures for strengthening regulation and supervision; broadening and deepening the financial markets; and improving payment and settlement systems. I. Regulation and Supervision 1. Leverage Ratio for Banks In order to mitigate risks of excessive leverage,…
Digital transactions are likely to get a boost and payments through other modes such as cash, demand draft and cheque may come down as the Reserve Bank of India has decided to do away with the charges it levies on fund transfers through RTGS and NEFT routes.
The government is soon likely to invite select lenders for discussion on a second round of merger in public sector banks, according to a finance ministry official.
RBI’s revised guidelines for resolution of stressed assets likely before May 23
In a move to tackle fund diversion, the Reserve Bank of India (RBI) has proposed sterner rules on opening and running of current accounts of corporate borrowers.
In Indian Express dt 24th April 2019, a news has been flashed as under: “Central Bank of India on Friday put up two non-performing assets (NPAs) worth Rs 251 crore for sale through the Swiss challenge method.” “The auction for Srinagar Banihal Expressway (Rs 200 crore) and Maa Mahamaya Industries (Rs 51 crore) are being…
Banks Board Bureau identifies 75 senior officers for leadership roles in PSBs
The Appointments Committee of the Cabinet (ACC) has approved a slew of proposals of the Department of Financial Services (DFS), providing new postings for the top brass of erstwhile Vijaya Bank and Dena Bank. While Karnam Sekar, MD & CEO of Dena Bank, has been appointed as the chief of Indian Overseas Bank (IOB), RA…
Amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda has been notified vide Gazette of India Notification G.S.R. 2(E) dated January 2, 2019. The Notification called the ‘Amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda Scheme, 2019’ has come into force on April 1, 2019. In view of the above,…