RBI governor: Current economy may pose challenges

Reserve Bank Governor Shaktikanta Das said that the current economic conditions may pose certain challenges to banks, and urged them to be proactive in tackling them. Continue Reading

Microfinance Institutions Network releases Q2FY20 report

The data in the report reveals that access to microfinance is rising at a healthy pace, nationally and increasing number of small borrowers across the country are paying back their dues on time. Continue Reading

Ashok Kapur family backs Yes Bank’s new management

Extending full support to the new management, Yes Bank’s single-largest shareholder and co-promoter, the late Ashok Kapur’s daughter Shagun Gogia said the issues of governance and transparency are fully dealt with now. Gogia, who was recently inducted to the board of the troubled private sector lender, also said her family was fine with lowering their shareholding below the present 8.33 per cent in case a big investor comes on board at the end of the ongoing capital-raising exercise. Continue Reading

NT compiles a list of major financial crimes that shocked India

Ever since Punjab and Maharashtra Cooperative Bank (PMC Bank) crisis unfolded, citizens across India are worried by the mounting financial stumbles that have plagued our nation as our economy continues to stumble downward. In this article, News Today compiles a list of major white-collar crimes that rocked our country. Continue Reading

SBI lowers rates on non-repo-linked loans

State Bank of India (SBI) announced reduction in its marginal cost of fund based lending (MCLR) rate by 10 basis points across all tenors, effective 10 October. This is the sixth time that the country’s largest lender has cut its MCLR or minimum lending rate in the current financial year. The rate reduction is not applicable to the repo-linked loans. Continue Reading

RBI forms working group to assess regulatory framework for CICs

The central bank said there is a need to strengthen the corporate governance framework of CICs. The six-member working group is to be headed by non-executive chairman, Central Bank of India, and former secretary, Ministry of Corporate Affairs, Tapan Ray. Continue Reading

Moody’s finds hurdles in RBI’s new framework for stressed asset resolution

Moody’s Investors Service Monday said the Reserve Bank’s new prudential framework for stressed asset resolution is ‘credit positive’, but flagged the slower-than-expected progress of resolution under Insolvency and Bankruptcy Code as a key hurdle. Continue Reading