As announced in the Monetary Policy Statement of December 5, 2018, the Reserve Bank of India (RBI) launched on 31st January 2019, the Ombudsman Scheme for Digital Transactions (OSDT) vide Notification dated January 31, 2019 for redressal of complaints against System Participants as defined in the said Scheme. Follow the link for the Scheme: The Ombudsman Scheme for Digital Transactions, 2019…
System-wide gross non-performing assets of banks rose to 11.2 percent or at Rs 10.39 trillion in FY18 from 9.3 percent a year ago, and the share of public sector banks stood at Rs 8.95 trillion, or at 14.6 percent, according to the Reserve Bank data released Friday.
Govt proposes merger of Bank of Baroda, Dena and Vijaya Bank
The merger of Bank of Baroda, Dena Bank and Vijaya Bank set to create India’s third-largest bank with a total business of more than ₹14.82 trillion.
The country’s largest lender State Bank of India has alerted all its offices on the pitfalls of dealing with companies carrying out trade with Russia and Iran which are battling US sanctions.
Central Government appointed non-executive chairpersons for three state-run banks. viz Dena Bank, Central Bank of India & Punjab & Sind Bank.
Prudential Norms for Classification, Valuation and Operation of Investment
Portfolio by Banks – Spreading of MTM losses and creation of Investment
Fluctuation Reserve (IFR)
The Reserve Bank of India on Thursday barred banks and financial institutions from dealing with virtual currencies including Bitcoins and said that it was time and again warning users of virtual currencies regarding the risks associated with it.
Around 14% of the bad loans in public sector banks (PSBs) are due to wilful defaulters. The total gross non-performing assets (NPAs) of 21 PSBs stood at Rs 7.33 lakh crore as on September 30, 2017. Of this, Rs 1.01 lakh crore of loans were termed as those in wilful default.
Finance ministry asks public sector banks to close loss-making branches
The finance ministry has asked PSBs to discuss consolidation of overseas branches and take a final call on closing some unviable operations.
Post the merger of its five associates, State Bank of India has changed names and IFSC codes of nearly 1,300 of its branches.