Banking

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 …

Reserve Bank of India (RBI) Governor Urjit Patel has flagged the risks to macroeconomic stability from a potential ‘currency war’ in the wake of rising global trade tensions and said the central bank’s decision on Wednesday to raise interest rates was aimed at firmly anchoring inflation expectations. “RBI’s statements on …

Maharashtra Chief Minister Devendra Fadnavis said on Tuesday that any reservation extended in a hurry to the Maratha community will not stand up in court, while the BJP ally Shiv Sena stirred the quota pot further by asking the State government to extend reservation to Dhangars and Kolis as well. …