Let us know, why RBI imposes a penalty of Rs 4 crore on Citibank. RBI imposed the penalty for non-compliance of various directions issued by it. Recently, RBI had imposed penalty on Citibank N.A. for violation of banking regulations pertaining to secrete information of customers. Citibank has made lapses in obtaining the declaration from …
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The Reserve Bank of India today cut the repo rate by 40 basis points to 4%. Loan moratorium is also extended by another three months. The Central Bank governor Mr. Shaktikanta Das on 22.05.2020 announced several measures to revive the economy. Mr. Das said that the top six industrialised states that account for about 60 …
Covid lockdown | 72% of outstanding bank credit in red zones. Report says that nearly 72% of outstanding bank credit and 62% of deposits are in red zones. Further delay in resumption of economic activity could affect lenders’ balance sheet and could impact asset quality. Based on the COVID-19 cases, the Ministry of Health and …
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Third largest bank, Bank of Baroda will monitor henceforth NBFC loan portfolio on behalf of all lenders. It include the names of Bajaj Finance Tata Capital HDB Financial Services Tata Motors Finance M&M Finance KKR India India-bulls Commercial Credit. These big names are included in a group of 33 NBFCs with a total exposure …
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Bankers are disappointed with Announcement on MSME loans because credit guarantee on MSME loan are not offered by government but by CGTMSE. Bankers are disappointed with Announcement on MSME loans because credit guarantee on MSME loan are not offered by government but by CGTMSE. Small Industries development bank of India (SIDBI) issued a guidelines …
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We recently got a news that RBL Bank expects dip in new credit cards, spends in FY21. The bank which derives 18 per cent of its loan portfolio from credit cards, is expecting new plastic issuances to halve and a fall in expenses also in FY21 but is confident of the revenues from the segment …
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The Reserve Bank of India has a list of RBI policy options to combat economic crisis cause from Coronavirus pandemic. We see the response of Reserve Bank of India through its various relief measures. It has cut the interest rates by 75 basis points. This results into the cash flow of $50 billion in the …
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SBI on-line bank Frauds: SBI online bank Frauds story holders warned about new phishing. The state financial institution of India, SBI has issued a warning to its epic holders about a new kind of cybercrime. These are taking place this present day in the identify of EMI adjournment or afterlight password or checking account advice. …
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Fraud related to EMI Moratorium: Banks request clients not to share OTP/CVV with shams A group of fraudsters likewise send links for introducing questionable unrated applications on clients’ mobiles through which numerous trade offs become conceivable SBI cautions that when the OTP is shared the sum is promptly siphoned away by fraudsters. Reserve …
Covid-19 outbreak: 3 months moratorium on all loans, says RBI Governor You might have come across with the news on moratorium law for granting 3 months “Moratorium” on Term Loan and “Deferment of Interest”on Working Capital by banks as announced by Reserve Bank of India. Reserve Bank of India notification on moratorium law …