Prior to his new position, Bhavendra Kumar functioned as CGM and headed Canara Bank’s Delhi circle office with a business of over Rs 2.5 lakh crore.
Citing material supervisory concerns, RBI also orders Bank of Baroda to ensure that already onboarded ‘bob World’ customers do not face any disruption on account of the suspension.
Government approves appointments of 12 general managers as executive directors of various public sector banks.
RBI will manage liquidity, inflation, growth, rupee and financial sector stability in an appropriate equilibrium like the legendary all-rounder Kapil Dev managed bowling, batting, fielding and captaincy, said Governor Shaktikanta Das.
Pointing out that certain components of personal loans are recording very high growth, RBI indicated that it will step in with prudential regulations to limit such unsecured lending should lenders remain reckless as it raises the risk of bad loans.
Muneesh Kapur has been appointed as executive director of RBI with effect from 3 October; he will look after the Department of Economic and Policy Research.
RBI adds 23 banks, after initially opening the facility for seven lenders. This covers around 90% of unclaimed deposits in value terms in Depositor Education and Awareness Fund.
Dinesh Khara gets an extension till August next year; government also grants two-year extension to SBI MD Ashwini Kumar Tewari.
Chaired by R. Narayanaswamy, former professor of IIM Bangalore, the working group will lay down the principles for banks while designing the credit risk models to be used for assessing and measuring expected credit losses.
In July, the Kerala-based private sector lender raised Rs 959 crore via preferential issue of shares to the World Bank Group member.
Though the facility for deposit or exchange of Rs 2,000 notes at commercial bank branches will cease after 7 October, customers can exchange these notes at RBI's 19 regional offices, subject to a limit of Rs 20,000 per transaction.
A week after Rs 9,000 crore was wrongly credited into a taxi driver’s account, Tamilnad Mercantile Bank managing director and CEO S Krishnan has resigned from the post.
Madhusoodanan will be in his role as part-time chairman of Dhanlaxmi Bank for a period of three years from 26 September 2023.
RBI fines three state-owned banks for violation of various regulatory norms; penalty of Rs 1.3 cr imposed on SBI, Rs 1.62 cr on Indian Bank and Rs 1 cr on Punjab & Sind Bank.
Govt mulls changes in IBC to consider insurers as financial creditor in case of default of infra projects.
