Harsh Kumar

All stories by Harsh Kumar

'Payment banks' micro-lending to significantly impact economy'

'Payment banks' micro-lending to significantly impact economy'

Rediff.com3 days ago

'The transition from payment banks to SFBs is only permissible for banks not owned by corporate entities.'

MPS: FinMin may extend August deadline for PSBs, insurers

MPS: FinMin may extend August deadline for PSBs, insurers

Rediff.com5 days ago

The finance ministry is in favour of extending the August deadline for public sector banks (PSBs) as well as insurance companies to increase their minimum public shareholding (MPS) to the mandated 25 per cent, said a senior government official. "The election results will determine the course of action. "Most likely, those who did not receive an extension to meet the minimum shareholding norm will be granted one," the senior government official said.

'I Never Take My Opponent's Name'

'I Never Take My Opponent's Name'

Rediff.com30 May 2024

'Even last time, when I defeated Shatrughan Sinha, I did not take his name.'

'Draft infra norms good for industry'

'Draft infra norms good for industry'

Rediff.com29 May 2024

'Probably revised guidelines will come, and then the real picture will emerge.'

'No need to panic on draft infra guidelines'

'No need to panic on draft infra guidelines'

Rediff.com24 May 2024

'It's a debatable topic, and we will submit our comments to the RBI by June 15.'

Litchi Heats Up Election Season In Muzaffarpur

Litchi Heats Up Election Season In Muzaffarpur

Rediff.com19 May 2024

'The local support from our MP is nil. He never comes to see our farms.'

Who Will Be The Next SBI Chief?

Who Will Be The Next SBI Chief?

Rediff.com14 May 2024

'The FSIB will conduct interviews for the SBI chairman position on May 21-22 as the tenure of the current chairman Dinesh Kumar Khara is scheduled to end by August.'

Next-gen politicians battle it out for Samastipur

Next-gen politicians battle it out for Samastipur

Rediff.com9 May 2024

'Dynastic politics has become a tool of convenience for political parties. The BJP does not hesitate to accept it when it comes to its own alliance or party candidates. The same goes for the others.'

'Govt won't privatise GIC Re at this stage'

'Govt won't privatise GIC Re at this stage'

Rediff.com5 May 2024

'Because it is the only public sector company in this sector, currently.'

Payments banks bat for new model, pin hopes on lending licence amid stress

Payments banks bat for new model, pin hopes on lending licence amid stress

Rediff.com29 Apr 2024

Payments banks are expecting to get the rights to offer small-ticket loans sometime soon, according to an industry source familiar with the matter. The industry has been in talks with the Reserve Bank of India (RBI) for some time in seeking lending rights.

Cautious approach: Small finance bank model in the slow lane, say experts

Cautious approach: Small finance bank model in the slow lane, say experts

Rediff.com24 Apr 2024

The small finance bank model may still be testing the water some 10 years since its launch. According to banking experts, the regulator has taken a cautious approach in granting approvals. Unity Small Finance Bank was the last one to get a licence in the category in November 2021.

PSBs may be allowed to transfer unclaimed shares to IEPF

PSBs may be allowed to transfer unclaimed shares to IEPF

Rediff.com14 Apr 2024

The finance ministry is considering amending the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, which governs public-sector banks (PSBs), to make suitable provisions for allowing PSBs to transfer shares to the Investor Education and Protection Fund (IEPF) when dividends of such shares remain unclaimed by the investors for seven consecutive years. "While Section 10B of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, allows the transfer of unclaimed dividends to the IEPF, it, however, does not mention a provision for transferring unclaimed shares and may now be amended by the next government to allow such transfers to happen," said a person familiar with the matter.