Page 12 - Subrata Panda

Reserve Bank of India tightens HFC norms to bring them on a par with NBFCs

The RBI has cut ceiling on quantum of public deposits that an HFC can hold to 1.5 times from 3 times of its net owned fund

Union Bank invites EoIs to sell Rs 2,316 crore NPAs across 45 accounts

Some of the accounts in the list include those which went unsold in an auction in June

Look to resolve issues with deposit growth: HDFC Bank's Atanu Chakraborty

Says focused on creating personalised experience for customers

Food inflation can't be ignored, need to remain vigilant: RBI Governor Das

Economic Survey had suggested exploring whether inflation targeting framework of the central bank should exclude food

Banks should offer innovative products, services to garner deposits: Das

This nudge comes amid sluggish deposit growth, which has led to a widening gap between credit and deposit growth

Banks should offer innovative products, service to garner deposits: Das

However, the governor did not give any specific instructions as far as interest rates on deposits are concerned

RuPay credit card on UPI to earn equal rewards like other cards from Sept 1

The RuPay credit card issuing banks must abide by the contents of the circular by September 1, 2024, according to the NPCI

Credit transactions on UPI reaching Rs 10K cr every month: NPCI chief

NPCI's "credit line on UPI", launched last year, offers low-ticket, high-volume retail loans to individuals and businesses

ICICI Bank fostering compliance, strong risk culture: CEO Sandeep Bakhshi

He also added that the bank is seeing exciting opportunities arising from the Indian economy and its global linkages and is committed to supporting the economy in its transformative journey

Indira Container Terminal case: Canara Bank takes Swiss auction route

Invites counter-bids to recover dues

Yuva Term to Digi Term: LIC launches new products across categories

In a separate exchange filing, the life insurer stated that its Bangladesh office will be closed from August 5, 2024, to August 7, 2024

NBFC growth likely to take a hit as banks show funding reluctance

According to RBI data, as on September 30, 2023, 37.8% of the NBFC borrowing was from banks

Omkara ARC to buy Rs 6K cr NPA book of Stressed Asset Stabilisation Fund

After the revision in reserve price, NARCL and Omkara ARC put in binding bids to acquire the portfolio of NPAs, and subsequently, an auction was conducted to determine the winning bidder

Lenders vote to liquidate defunct airline Go First due to low bids

A senior executive of a private bank, which has a small exposure to the airline, said voting for the proposal is through and the airline will be recommended for liquidation soon

Resolutions under Insolvency and Bankruptcy Code highest in FY24: Crisil

Recovery for financial creditors, however, declined to 27% compared to 36% in FY23

Gaining momentum: UPI transactions top Rs 20 trn for third straight month

NPCI's data shows that the average daily transaction count on UPI in July was 466 million, amounting to Rs 66,590 crore

NPCI reestablishes connectivity with C-Edge following ransomware attack

C-Edge, a joint venture between State Bank of India (SBI) and Tata Consultancy Services (TCS), is a technology service provider that offers services to cooperative and regional rural banks

Draft framework: RBI for more options to authenticate digital payments

The first factor of authentication and the AFA would have to be from different categories, the RBI has stated

Life Insurers to seek extension on implementing surrender value norms

Revising all the traditional products according to the new surrender value norms and renegotiating terms with the distributors within the timeline is a huge challenge

'Too big to fail' Big Techs pose risk profiling challenges: RBI report

Says digitalisation has enhanced banks' efficiency and increased competition within the sector