Healthy banks that lend to sound firms create a virtuous cycle of investment and jobs: Urjit Patel
Healthy banks that lend to sound firms create a virtuous cycle of investment and jobs: Urjit Patel. The government on Tuesday decided to capitalise public sector banks (PSBs) to the tune of ₹2.11-lakh crore in a frontloaded manner to support credit growth and job creation. This announcement has come at time when PSBs are capital starved and hobbled by non-performing assets.
Wilful defaulters list: Finance Minister Arun Jaitley on Thursday said the banks will recover every penny of loan given to him. Jaitey, who was speaking at an event in New Delhi, said investigative agencies will take strong action against the liquor baron wherever he is found to have violated the law. Mallya, who has been declared a wilful defaulter, owes banks over Rs 9,000 crore.
Although the introduction of MCLR has resulted in better transparency on fixing of lending rates, banks have frequently adjusted the spreads, thereby impeding transmission to the actual lending rates: RBI
The Reserve Bank of India issued on August 25, 2017 ₹ 200 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India from select RBI offices, and some banks. Modern paper currency in India traces its origins to the late 18th century when private and…
RBI launches new Rs 200 denomination notes on 25th Aug 2017
Number of PSBs may go down to 12 as govt mulls consolidation . The government is working on a consolidation agenda with a view to creating 3-4 global-sized banks and reduce the number of state-owned lenders to about 12.
Customers’ complaints about problems like cash withdrawal and exchange of old notes faced post demonetisation cannot be entertained under the Banking Ombudsman (BO) scheme, the Reserve Bank has said.
The Reserve Bank of India has widened the scope of its Banking Ombudsman Scheme 2006, to include, inter alia, deficiencies arising out of sale of insurance/ mutual fund/ other third party investment products by banks. Under the amended Scheme, a customer would also be able to lodge a complaint against the bank for its non-adherence…
Section 24 and Section 56 of the Banking Regulation Act, 1949 – Maintenance of Statutory Liquidity Ratio (SLR)
RBI Notification DNBR (PD-ARC) No. 05/ED(SS)-2017 dated April 28, 2017In exercise of the powers conferred by clause (b) of sub-section (1) of section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Reserve Bank of India hereby specifies that the Net Owned Fund (NOF) for Asset Reconstruction Companies…