RBI in July issued a detailed circular asking banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. The announcement by the Reserve Bank of India (RBI) to allow cross-border trade transactions in rupee is a timely move and a step towards internationalisation of the currency.
​​​ A trans-friendly or inclusive labour culture is the need of the hour and this is a big step towards the inclusive revolution, Kerala-based ESAF Small Finance Bank said in a statement. The Reserve Bank of India in 2015 directed banks to include a separate column 'third gender' in all their forms and applications.
​​In an exclusive interview with ET’s Atmadip Ray, Goel said that the bank is capital ready to lap up the growth opportunities going forward. He said that the revival of the economy along with focused recovery initiatives would help the lender to reduce NPA to single digit and improve net interest margin to 2.9%.
The benchmark one-year MCLR will be 7.75 per cent against the existing rate of 7.65 per cent. The one-year rate is used to fix most consumer loans such as auto, personal and home loans.
Regulatory sandbox (RS) refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may permit certain relaxations for the limited purpose of the testing. The regulatory sandbox allows the regulator, innovators, financial service providers and customers to conduct field tests to collect evidence on the benefits and risks of new products and systems.
Since the Jackson Hole summit last week, markets around the world have become extremely volatile and uncertain, with highly destabilising effects on emerging markets, according to Das. However, he added that the aforementioned measures have ensured that the health of our banking system is sound enough to weather any negative spillovers from external headwinds.
According to the MSBEF, no political party assists in the loan recovery process because past experience indicates that borrowers stop repayments for such loans. "...The same political parties demand for waiver of those loans so as to appease voters" during elections, it said, adding that such events vitiate the recovery atmosphere.
CSB Bank will seek shareholders' nod for Mondal's appointment at the 101th Annual General Meeting (AGM) to be held on September 27, 2022, the private sector lender said in its annual report 2021-22.
Bank of Maharashtra (BoM) has organised a credit outreach programme under which it has sanctioned loans worth about Rs 1,000 crore. Loan sanction letters were distributed to the beneficiaries by Financial Services Secretary Sanjay Malhotra on Saturday at Pune, BoM said in a statement.