Tag: Banking

  • RBI cancels banking license of Malkapur City Co-operative Financial institution Buldhana

    The Reserve Financial institution of India (RBI) has cancelled the license of the Malkapur City Co-operative Financial institution Restricted, Buldhana, Maharashtra and requested the financial institution to not keep on any banking enterprise, with impact from the shut of enterprise on July 5, 2023. “The Malkapur City Co-operative Financial institution is prohibited from conducting the…

  • SBI offers ₹22 crore to IIT-Bombay to strengthen information analytics, AI

    The State Financial institution of India (SBI), by way of its CSR arm SBI Basis, has pledged a grant of ₹22.5 crore to determine a Banking Knowledge and Analytics Hub on the Indian Institute of Expertise, Bombay (IIT-B). The main target of the Hub will probably be to handle the distinctive challenges confronted by the…

  • SBI launches 34 transaction banking hubs nationwide to reinforce buyer companies

    State Financial institution of India (SBI), a government-owned financial institution, has just lately launched 34 Transaction Banking Hubs on the high 21 district facilities nationwide. The first goal is to supply immediate and environment friendly Transaction Banking options to prospects. The inauguration ceremony was carried out by Shri Dinesh Khara, Chairman of SBI, as a…

  • HDFC settles within the banking arm’s fold

    Mumbai: HDFC Financial institution Ltd, India’s largest personal lender, and its mortgage lender dad or mum, Housing Growth Finance Corp. Ltd (HDFC), accomplished their merger on Saturday, greater than 14 months after it was introduced, establishing one of many world’s most dear lenders. The merger, the biggest such transaction in India, would propel HDFC Financial…

  • RBI cancels Mahalaxmi Cooperative Financial institution Dharwad’s banking licence, permits to function as NBFC

    The Reserve Financial institution of India (RBI) on Tuesday directed Karnataka-based Mahalaxmi Cooperative Financial institution, Dharwad to perform solely as a non-banking establishment. Accordingly, the RBI cancelled the banking licence dated March 23, 1994 granted to the Mahalaxmi Cooperative Financial institution Dharwad, the banking regulator stated. The cancellation of licence is with impact from the…

  • DBS Financial institution India appoints Rajat Verma as head of institutional banking

    MUMBAI : DBS Financial institution India on Monday mentioned it has appointed Rajat Verma as managing director and head of institutional banking in India. The present head of institutional banking Niraj Mittal has just lately moved to a brand new function as nation head of DBS Financial institution in Australia. The financial institution mentioned Mittal…

  • Comeback on playing cards for distressed asset market

    Nearly a decade into the financial institution clean-up train and 7 years since India’s chapter legislation got here into being, the present monetary 12 months appears to be like to be the one when enterprise insolvencies might return to the market. Seen towards the progressive decline in non-performing belongings (NPAs), that are at multi-year lows,…

  • How useful are premium banking companies for HNIs?

    When do banks roll out the crimson carpet for you? As quickly as you develop into a excessive web price particular person (HNI). Excessive earnings will get you exclusivity, and banks goal HNIs with tailor-made companies, and preferential charges on deposits and loans. These unique privileges, within the type of premium banking programmes, are prolonged…

  • P2P lending is working like banking and that is dangerous

    Whereas theoretical dangers of borrower defaults exist, P2P lending platforms have taken measures to mitigate such dangers. They have a tendency to soak up losses inside their buffers, minimizing the potential losses and adhering to ideas of the BASEL III capital norms applied for banks. Nevertheless, this may increasingly create a false sense of safety…