Personal finance

In what could be seen as an attempt at damage control, finance minister Nirmala Sitharaman on Saturday said she had spoken to the RBI governor, who had assured her that customers’ concerns will be treated as a top priority.The Reserve…
Read More...

Delivering a lecture at the prestigious Columbia University’s School of International and Public Affairs here on Tuesday, Sitharaman said that giving all the public sector banks a “lifeline” is today her primary duty.Finance Minister…
Read More...

Mortgage major Housing Development Finance Corporation on Monday reduced its retail prime lending rate (RPLR) on housing loans by 10 basis points, making loans cheaper for all its existing customers.The RPLR, on which its adjustable rate…
Read More...

Earlier in January this year, the Reserve Bank of India had released a policy paper on authorisation of new retail payment systems.The RBIon Tuesday issued guidelines on ‘on tap’ authorisation of payment systems, including minimum…
Read More...

Jaipur-based AU Small Finance Bank had dues worth around `62 crore recoverable from the beleaguered Altico Capital.Stressed non-banking financial company Altico Capital and AU Small Finance Bank on Tuesday proposed settlement terms…
Read More...

Penalty on LVB was imposed because of non-adherence to guidelines on certain IRAC normsThe Reserve Bank of India (RBI) has imposed a penalty of `1 crore on Lakshmi Vilas Bank (LVB) for non-adherence to certain provisions of Income…
Read More...

After a meeting with chiefs of PSBs and top government officials, finance minister Nirmala Sitharaman said the drive saw disbursement to all critical segments of the economy ahead of the Durga Puja festival.Loans to the tune of `81,781…
Read More...

The RBI only regulates and supervises their banking functions and thus has less control on management and carries out on-site inspections and off-site surveillance on them.In the wake of the scam at Punjab & Maharashtra Cooperative…
Read More...

The RBI, which has cut interest rates by a cumulative 1.35 percent to a decadal low of 5.15 percent in five straight moves since February, to push growth amid continued subdued inflation, is peeved at banks for not passing on the full…
Read More...

PNB, UBI, OBC merger: Outside expert may be roped in to decide logo of new entityWith three state-run lenders — Punjab National Bank (PNB), United Bank of India (UBI) and Oriental Bank of Commerce (OBC) — heading for an amalgamation, an…
Read More...