RBI brings 26 stressed sectors, identified by Kamath Committee, within ambit of sectors eligible under TLTRO, up from 5 sectors it allowed earlier.
As part of its strategy to grow its asset management business under its own franchise, state-owned Bank of India is buying out AXA Group's stake in two entities to take full ownership of these subsidiaries.
RBI asks HDFC Bank to halt launches of its digital business generating activities under 'Digital 2.0', along with sourcing new credit card customers. The order is prompted by 3rd big outage in 2 years.
Plans are also afoot to expand retail and MSME portfolio to over 60% of loan book by 2023, from current 45% level.
The next phase will see the migration of all branches of e-Andhra Bank to Finacle 10 in the current financial year.
In a setback to the promoters, the Bombay HC has refused to stay Lakshmi Vilas Bank's merger with DBS which will be effective from 27 Nov.
Bank credit growth has decelerated to 5.8% in the Sep quarter from 8.9% in the year-ago period, according to RBI data.
State Bank of India has raised Rs 2,500 crore from bonds to fund business growth.
Here we present key recommendations of RBI panel and list out their implications for banking sector with respect to entry of corporate houses, NBFCs and other issues.
-275x183.jpg)
NBFCs promoted by large corporate houses like Tata Finance, Aditya Birla Capital, Bajaj Finance, L&T Finance, Mahindra Finance and Aditya Birla Capital may now look forward to becoming universal banks.
RBI's internal working group has recommended that payments banks can convert to a small finance bank if they have run operations for 3 years.
RBI's internal working group has suggested hiking the cap on promoter holding to 26% from the current 15% for all private banks.
RBI panel suggests well-run large NBFCs with an asset size of Rs 50,000 crore and above, including those owned by corporate houses, may be considered for conversion into banks.
RBI panel proposes to allow large corporate houses to own banks in India. Will we see Bank of India, UCO Bank, Central Bank and Indian Overseas Bank privatised?
In Karur, which is the registered headquarters of Lakshmi Vilas Bank, the staff received police protection after depositors went unruly following moratorium imposed by RBI.
