Experts disagree with the idea and the Reserve Bank of India (RBI), which has the sole right to print money, is not comfortable with it as well.
Banks operating in India reported fraud of Rs 4.92 trillion as on March 31, 2021, which represents nearly 4.5 per cent of the total bank credit, showed Reserve Bank of India (RBI) data, which was sought under the Right to Information (RTI) Act by Saurabh Pandhare. The data showed 90 banks and financial institutions reported a total of 45,613 cases of loan fraud till March 31, 2021. State Bank of India - the country's largest lender - reported the highest amount of loans as fraud - Rs 78,072 crore as on March 31, 2021.
The flow of deposits from non-resident Indians (NRIs) hit a four-year low in the financial year 2020-21 mainly due to contraction in foreign currency deposits, latest data released by the Reserve Bank of India (RBI) shows. Total NRI deposits during FY21 were $7.3 billion as compared to $8.6 billion in FY20 - the lowest since 2016-17, when such deposits had contracted by $12.3 billion. Indian banks have three kinds of deposit accounts where NRIs or PIOs (persons of Indian origin) can park their funds: non-resident external-rupee account (NRE); non-resident ordinary rupee account (NRO); and foreign currency non-resident bank account (FCNR [B]).
Record liquidity infusion by the central bank in the banking system during the financial year 2020-21 amid sluggish economic activity resulted in banks investing more in safe government papers than in extending loans, data from Reserve Bank of India (RBI) showed. This trend has not been seen in nearly two decades, barring 2016 - the year of demonetisation.
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
Since 2014, the public sector banks' branch network in rural and semi urban has grown by a mere 4,000 while for private sector banks, it doubled from 9,673 to 18,437.
New-generation private sector banks such as ICICI, HDFC, Axis, Kotak etcetera owe their existence to the recommendations of the first Narasimham Committee.
The discount should be equal to interest rates on savings bank account deposit of State Bank of India.
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
Central bank sees action as discriminatory, unfair
The bank's branch expansion and recruitment have been curtailed.
For banks to cut loan rates, the cost of deposits needs to come down, and there is no sign of that happening.
We need a change in mindset, says the RBI Governor.
HDFC Bank has ensured that no bank will be able to match them in the near future without bleeding on margins.
Instructions were issued on holding loan camps in the last week of September.
Apart from 40 modules of Harvard, SBI has internally developed 500 e-modules for employees.
The finance ministry has put out a revised draft in public domain.
The rally followed the govt's plan to bolster state-owned lenders.
SBI's gross NPA figures have shown a decline for three consecutive quarters.
Scanty rain would have put extra pressure on food prices.
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