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Dr B Yerram Raju Dr B Yerram Raju  and   Vikas Singh 02 May 2017
The Reserve Bank of India (RBI) has put four banks on its critical watch list and warned another ten to spruce up their capital. What prompted the RBI to do this is anybody’s guess. Both the warning and action are sorely needed.   Huge bank frauds are reported, many of them from...

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Moneylife Digital Team 20 April 2017
The Reserve Bank of India's (RBI) updated "prompt corrective action" (PCA) framework could suggest a greater willingness to take regulatory action to address problems at struggling banks. However, according to a ratings agency, its implementation is likely to be effective only if it is...

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Mumbai, The RBI's latest notifications to force banks to report deviations from prescribed asset quality norms and under-provisioning for bad loans, and take in higher standard asset provisioning across risky sectors, particularly in telecom, point to the implemention of Indian Accounting...

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New Delhi, The central government and the RBI on Wednesday allowed time till April 30 for "commensurate deposits" by citizens who have declared their unaccounted income under the Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS) that offered non-interest bearing deposits for four...

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The invocation of the new Prompt Corrective Action (PCA) framework announced by the Reserve Bank of India (RBI) recently would put a curb on many activities of government-owned banks, said investment banking firm Jefferies.   In a report issued on Tuesday, Jefferies said the...

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Sucheta Dalal Sucheta Dalal 10 April 2017
Many of us won’t forget a presentation by Ravi Subramaniam, ex-banker and author of several thrillers set in banking. His book, If God Was a Banker, opened our eyes to the millions that Citibank probably earned on ‘Citibank Suraksha’, an insurance that was quietly loaded on to consumers,...

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Mumbai, The Reserve Bank of India (RBI) has raised the capital requirement for asset reconstruction companies (ARCs) to Rs 100 crore, from the current Rs 2 crore, it has announced.   This move was necessitated by the higher amount of cash required to buy bad loans from the current...

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Sucheta Dalal Sucheta Dalal 10 March 2017
Over the past few days a storm of protest has erupted on social media over the ever-increasing charges levied by banks on depositors and borrowers. The most recent of these is the hefty cash handling charge that many banks plan to levy on customers who deposit or withdraw cash more than a...

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The Reserve Bank of India (RBI) on Thursday said it will shortly issue new Rs 10 denomination currency notes, while clarifying that the old Rs 10 notes will also remain valid.   "The Reserve Bank of India will shortly issue Rs 10 denomination banknotes in the Mahatma Gandhi...

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Providing a rationale for re-introducing penalty for non-maintenance of minimum balance in its savings accounts from April 1, State Bank of India chief Arundhati Bhattacharya on Wednesday said the public sector lender needs funds to balance the oeprational costs of Jan Dhan...

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Global credit rating agency Fitch Ratings on Thursday said some Indian banks are at the risk of skipping coupon payments on capital instruments over next couple of years.   According to Fitch, some Indian banks are at risk of skipping on obligations despite the pressure easing...

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IANS 15 November 2016
Mumbai: With several complaints and rumours about "fake new notes" of Rs 2,000 denomination, there is some wariness among the people as the notes come into wider circulation. Notes of Rs 500 denomination would be circulated soon by banks.   However, the new notes not only have several...

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IANS 15 November 2016
New Delhi: Long queues were seen outside banks and ATMs on Tuesday as many anxious customers waited for the sixth consecutive day to deposit or exchange their spiked currency or take out cash.   People appeared distressed as they apprehended machines might fail to dispense cash that...

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Moneylife Digital Team 18 October 2016
Fraudsters who used to send us offers of massive lotteries or promised income tax refunds are now using far more sophisticated techniques, posing an even bigger risk to gullible and careless people. Many people may have received an email recently purportedly regarding ICICI Bank's...

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Moneylife Digital Team 29 September 2016
The Reserve Bank of India (RBI) has cautioned banking customers to be aware about the "All Bank Balance Enquiry No" that is still being circulated on social media, especially on WhatsApp.   In a release, the central bank says, "It has come to the notice of the Reserve Bank that an app...

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What does an excellent credit score do for you? If you go by CIBIL’s (Credit Information Bureau of India Limited) television advertisements, it fast-tracks loan processing and ensures service with a beaming smile from your banker. But a high credit score has little commercial benefit; it...

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New Delhi : All designated branches of 'agency banks' will remain open till 8 p.m. on Thursday to help people pay their taxes on the last day of the financial year 2015-16, the Reserve Bank of India said.   'Agency banks' are banks authorised to carry out government transactions, such...

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Moneylife Digital Team 23 March 2016
While the United Platform of IDBI Bank Unions have given a call for three-day strike from 28th March, the Bank management issued a circular asking employees to work on 26th March, the declared holiday being fourth Saturday and termed the strike call as illegal   Even as IDBI Bank...

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IANS 23 February 2016
Chennai : The All India Bank Officers Confederation (AIBOC) on Monday said it would go on nation-wide strike on February 29 to demand the reinstatement of an official in the Kerala-based Dhanalaxmi Bank.   The bank had terminated the services of P.V.Mohanan, general secretary,...

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IANS 22 February 2016
Only 35 percent of Indians above the age of 15 had bank accounts in 2011 (26.5 percent of females and 43 percent of males), according to a World Bank estimate. By 2014, this number, which coincided with cyclones Phailin and Hud-Hud ravaging the coastal states of Andhra Pradesh and Odisha,...

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