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
Tag: Banking
Recruitment for bank jobs will be hit badly due to the proposed consolidation of public sector banks (PSBs), and a few banks have already put their fresh hiring plans on hold.
While PSU banks have cut MCLR the most since April 2016, when the new benchmark rate was first introduced, surprisingly foreign banks sport the lowest MCLR amongst all banks.
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…
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.
‘Top 50 stressed a/cs will need ₹2.4 lakh cr haircut’.This amounts to 60% of the ₹4 lakh crore exposure to these accounts: Crisil report
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…
WHAT IS BITCOIN?Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be…