Sources close to the bank said non-executive and non-independent director Ajai kumar had been recommended for the interim CEO role.
The culture of these firms is alien to the Indian financial system. Distressed assets funds are known for their ruthless recovery ethics. Slicing and dicing a company and selling it on a piecemeal basis is their usual practice. This is something Indian banks are finding a little uncomfortable.
Tokenisation acts as an additional layer of security as it masks sensitive card data such as the 16-digit account number, expiry date and security code. However, the security level of the app and the customer's mobile itself also needs to be taken into consideration, say experts. Nikhat Hetavkar explains the whole idea of tokenisation, how it is enabled, its impact on card transactions and related security guidelines.
The two entities' combined distribution network would comprise 4,182 banking outlets and 476 ATMs across 34 states and Union territories of India, with more than 31,000 employees serving about 15 million customers across the country.
Cyber crimes in 2016-2017: 1,372 cases. Cost: Rs 423 million.
Customers using mobile wallets, prepaid payments cards, and paper vouchers such as Sodexo have been absolved of liability for fraud if it is reported within three days.
Over the past several months, the airline has struggled to pay vendors and staff salaries on time.
2018 has been a disappointing and highly volatile year for equity investors.
India imports 1.2 billion barrels of oil, and oil prices are falling, falling...
The HR challenge seems to be one of the most important issues that RBI Governor Shaktikanta Das will have to tackle.
Not only were Urjit and Rajan outsiders, they also hired laterally, bypassing the existing talent, especially in the field of economics
A staunch defender of demonetisation, it would be interesting to see how he handles the government's increasing demand for more cash from the RBI, and letting some weak banks get out of prompt corrective action.
For willful defaulters, change in ownership accompanied by punitive action against the defaulting management is the way to go.
179 million debit cards were issued during December 2016 to June 2018. A mere 2,000 ATMs were opened in the same period.
The main reason was that CPI inflation would likely remain below 4 per cent till July.
For banks, the package will limit the burden of provisioning for stressed loans. Besides, the proposed restructuring package for MSMEs with a credit of up to Rs 25 crore is expected to provide a breather to units from this sector.
If a name does not unify the three, there could be continued clash of identities, which could splinter the brand even before it takes shape, say Abhijit Lele and Nikhat Hetavkar.
Tension between the government, specially the finance ministry, and RBI is as old as the central bank itself.
The meeting was amicable, a stark contrast to the meetings of earlier years that always ended with the rivals at loggerheads.
The bank has hired US-based advisory firm Korn Ferry to help with the selection process.
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