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.
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.
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.
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%.
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.
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.
This will become a common remittance platform in collaboration with Singapore’s PayNow funds transfer service and make the process real time, instead of the more than one day it takes now to complete international transfers.
The private lender has 12 million pre-approved loan customers across products. It has set up an infrastructure base across 650 districts in India to disburse unsecured loans.
The Delhi-based lender has crossed ₹8 lakh crore in global advances showing a 10% year-on-year growth with retail loan portfolio rising by 11% and personal loan rising by 25%.