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]).
EU and UK laws require airlines to incorporate data protection measures and report data breach to regulators within 72 hours. Non-compliance can invite steep fines.
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.
Amid oxygen shortage and a faltering health system in the country, India is seeing over 300,000 cases daily.
New-generation private sector banks such as ICICI, HDFC, Axis, Kotak etcetera owe their existence to the recommendations of the first Narasimham Committee.
The Russian vaccine has been registered in more than 55 countries and is gaining recognition in the virtual world -- being the only to have its own Facebook page, YouTube channel and a Twitter handle, reports Aneesh Phadnis
According to the order, all factories producing essential goods and services will remain operational at full capacity.
'Traders have stocked up for upcoming festivals and will make a loss if stores remain shut now. We suffered last year. We can't suffer again. There is no scientific basis for closing all commercial establishments. How long will the government keep them shut?'
One reason for the surge in cases is the spread of infection at large weddings. Weddings turned out to be super spreaders.
'We urge the government to have discussions with private labs on the actual cost of running a test.'
Holidayers, including those who would head overseas between April and June, are set to escape to the hills, beaches, and resorts in the country. This is to fend off the heat and beat the pandemic blues, indicates the initial bookings and online search trends.
The ministry and the civil aviation regulator have said the government will consider the airline's request for slots as per existing policy.
The bone of contention between the two sides relates to changes in the purchase terms.
The discount should be equal to interest rates on savings bank account deposit of State Bank of India.
The new offer is part of its strategy to turn India to an exclusively 4G market.
Sources at Mumbai airport said seat occupancy has declined from around 70-72 per cent to 60-64 per cent in last three-four days as passengers are postponing or cancelling trips.
Here's what some states are doing to get a grip on the situation. Ruchika Chitravanshi & Aneesh Phadnis report
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