MONEY & BANKING


Moneylife Digital Team 01 March 2019
The Enforcement Directorate (ED) is conducting searches at the premises of Chanda Kochhar, former chairman of ICICI Bank, and Venugopal Dhoot who heads the Videocon group.   The searches were in connection with an ongoing probe into alleged irregularities and corrupt practices in...

Read More



IANS 28 February 2019
In a bid to promote digital transactions, the Indian Rail Catering and Tourism Corporation (IRCTC) on Thursday launched its much awaited payment aggregator system 'IRCTC iPay'.   The exclusive digital payment gateway will provide better digital experience and improved online digital...

Read More



IANS 27 February 2019
Congress leader and Rajya Sabha MP Jairam Ramesh on Wednesday moved the Delhi High Court alleging that amendments made to the Prevention of Money Laundering Act (PMLA) were illegally passed under the Money Bill provisions.   Ramesh's counsel and senior advocate P. Chidambaram told a...

Read More



Moneylife Digital Team 27 February 2019
Ratings agency ICRA Ltd has downgraded the Rs8,000 crore commercial paper (CP) issued by Dewan Housing Finance Corp Ltd (DHFL) to A2+ from A1+ due to challenges faced by the lender in raising funds from traditional bank lines of credit and instruments. DHFL, however, has expressed concern...

Read More



Moneylife Digital Team 27 February 2019
The Indian government's announcement to inject $7 billion into public sector banks (PSBs) under its recapitalisation plan is likely to help banks meet minimum regulatory requirements, but is not sufficient to support significantly stronger lending growth, says Fitch Ratings.   In a...

Read More



CS Anita Baid 27 February 2019
In furtherance to the sixth bi-monthly monetary policy statement for 2018-19 dated 7 February  2019 on ‘Harmonisation of the non-banking finance companies (NBFC) Categories’, the Reserve Bank of India (RBI) released a notification on 22 February 2019 to harmonise three different categories of...

Read More



Moneylife Digital Team 27 February 2019
The Supreme Court has held that mere failure to repay a loan would not automatically become a criminal offence unless there is criminal intent underlying the same, says a report.   According to a report from Bar & Bench, a bench of justices NV Ramana and MM Shantanagoudar passed an...

Read More



IANS 27 February 2019
The Reserve Bank of India (RBI) has taken off Allahabad Bank, Corporation Bank and Dhanlaxmi Bank from the Prompt Corrective Action (PCA) framework allowing them to resume their normal lending activities.   The Board for Financial Supervision (BFS) met on Tuesday to review the...

Read More



IANS 27 February 2019
Hotel Leelaventure on Tuesday said that JM Financial Asset Reconstruction Company Ltd (JMFARC) has filed an insolvency petition against it with the National Company Law Tribunal's Mumbai bench.   In a regulatory filling, the company said that the JMFARC has filed an application...

Read More



Shaifali Sharma 26 February 2019
With an aim to further fortify the deposits-taking activities, the President of India, on 21 February 2019, promulgated the Banning of Unregulated Deposit Scheme Ordinance, 2019 (BUDs Ordinance) which will prohibit the illicit schemes used to dupe the financially illiterate and poor...

Read More



IANS 26 February 2019
The Enforcement Directorate (ED) on Tuesday said it has attached properties of absconding diamantaire Nirav Modi and his associate companies to the tune of Rs 147 crore in connection with its ongoing probe into the Punjab National Bank (PNB) fraud case.   The agency in a statement...

Read More



IANS 25 February 2019
The State Bank of India (SBI) on Monday said no decision has been taken on moving the National Company Law Tribunal (NCLT) to recover loans from private carrier Jet Airways and called media reports in this regard "speculative".   "Reports have been appearing in the media about an SBI...

Read More



IANS 25 February 2019
The IL&FS bond toxicity contagion is spreading rapidly. The virus has now spread to a rather large body of savers, in this case insured, which coming as it does just before the general election is not good news for the government. With a concerned Trinamool Congress top gun and West Bengal...

Read More



CS Vinita Nair 22 February 2019
In 2015, the Banning of Unregulated Deposit Schemes and Protection of Depositors’ Interests Bill, 2015 was introduced along with a report of the inter-ministerial group (IMG) for identifying gaps in the existing regulatory framework for deposit-taking activities and to suggest administrative/...

Read More



IANS 22 February 2019
The CBI and the ED are likely to issue summons for questioning former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and industrialist V.N. Dhoot in connection with the Rs 3,250-crore loan case involving the Videocon Group and ICICI Bank, CBI sources said on...

Read More



Moneylife Digital Team 22 February 2019
Taking a serious view of the recent cases of ‘standstill agreements’ by companies with lenders to delay selling pledged shares, the Reserve Bank of India (RBI) aims to tighten norms on such deals between promoters and lenders, says a report.   According to a report from Business...

Read More



Moneylife Digital Team 22 February 2019
The Reserve Bank of India (RBI) has asked non-banking finance companies (NBFCs) to disclose the moratorium or grace period given to borrowers, says a report.   According to the report from Economic Times, the recent communique from the central bank assumes significance with the...

Read More



IANS 22 February 2019
Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday met PSU and private sector banks CEOs and MDs to discuss rate transmission and persuade them to pass on the advantages after taking note of the non-passing of the benefits of lower interest rates to the consumers following a key...

Read More



IANS 22 February 2019
Weak growth impulses along with expectations of lower food and fuel prices led the Reserve Bank of India to cut its key lending rate earlier this month and change its monetary policy stance to "neutral," showed the minutes of the latest Monetary Policy Committee (MPC) meeting released here on...

Read More



Moneylife Digital Team 21 February 2019
While the effort at extraditing Vijay Mallya is being pursued with all earnestness, there seems to be no urgency to go after the three major daimantaires who have together caused far bigger losses to the Indian banking system.   The only visible effort is that of tracking the residual...

Read More

Free Helpline
Legal Credit
Feedback