Banking

The number of cases of fraud reported by banks increased both in terms of numbers and value in 2017-18, the Reserve Bank of India said in its annual report. Fraud cases, which were generally hovering at about 4,500 in the last 10 years, increased to 5,835 in 2017-18, the report …

The Reserve Bank of India’s annual report for 2017-18 said more than 99% of the Rs. 500 and Rs. 1,000 notes withdrawn from circulation in November 2016 had been returned to the central bank. According to the report, after verification and reconciliation, the total value of the Rs. 500 and …

Average realisation is more than 50%, says IBBI chairperson M.S. Sahoo , chairperson of Insolvency and Bankruptcy Board of India (IBBI) talks about the success of the IBC process, challenges and the way forward. Edited excerpts: What’s the status of resolution of cases under the IBC in terms of resolution? …

Expects a positive response from RBI on the formation of the bank The State government is expecting a positive response from the Reserve Bank of India on the formation Kerala Bank, Cooperation Minister Kadakampally Surendran has said. Mr. Surendran said in a clarification issued here on Tuesday that the government …

Consortium lending often led to inordinate delays in loan appraisal and resulted in swelling non-performing assets (NPAs) in the banking system, according to Rajnish Kumar, Chairman, State Bank of India. Consortium banking, as it was called till mid-90s, later became multiple banking following complaints of delay in appraisal process but …

Southern States are outshining the rest of India in mobile banking adoption in savings accounts, according to a report by The Boston Consulting Group (BCG). The report was prepared in association with FICCI and Indian Banks’ Association. Telangana tops the table with 10% of savings bank accounts having at least …

The Reserve Bank of India Act, 1934, may need to be amended to facilitate the setting of a public credit registry (PCR), RBI Deputy Governor Viral Acharya said on Monday. Underscoring the vital need for the registry — the PCR is planned as an extensive database of credit information for …

The flow of bank credit to micro, small and medium enterprises (MSMEs) that took a hit in the aftermath of demonetisation seems to have picked up again, a study by officials at the Reserve Bank of India (RBI) showed. Growth of bank credit to the MSME sector, which had started …

Reserve Bank of India (RBI) Governor Urjit Patel sees domestic growth impulses continuing to remain reasonably strong as the monsoon, which has been normal ‘so far’, augurs well for the farm sector, according to the minutes of the Monetary Policy Committee’s meeting earlier this month. “The manufacturing sector has continued …

State-run lender IDBI Bank, which is set to be taken over by the Life Insurance Corporation of India, may face a capital shortfall in the current financial year, its chief executive officer and managing director B. Sriram said in an address to the employees. “While we have met the capital …