In addition to challenges such as reining in non-performing assets (NPAs) and boosting profits, Chaudhry will have to repair the bank's reputation, build internal controls, and improve regulatory relations.
The new requirements include a shift to cassette swap system, mandate armed guards while transferring money as well as a host of other measures that would require huge investments.
For financial institutions, it will be an opportunity to provide better lending options. For instance, customers who pay their overdrafts on time will get access to more credit and probably at a cheaper rate.
HDFC Bank managing director Aditya Puri, ICICI Bank MD and CEO Chanda Kochhar, and Axis Bank MD and CEO Shikha Sharma did not receive their bonuses in full for financial year 2016-17
A representative of the Confederation of ATM Industry said ATM players were not consulted about the move and they received the news via media platforms.
Cos ask US treasury to discuss data localisation norms with Indian officials at all platforms the two countries would meet, including G-20, US-India Strategic Dialogue, and IMF Annual Meet.
It is, thus, logical that some compensation is paid to a lender, especially when a customer is poached within two years, Parekh noted.
In addition, he will have to move swiftly to control any damage that may have been caused to the bank's image and investor confidence due to the loan controversy
The RBI on April 6 directed all payments service providers to make sure "that the entire data relating to payment systems operated by them are stored in a system only in India."
Income velocity based on currency with the public went down from 0.93 in October to 0.84 in March says a report from SBI's economic research department
As yields on 10-year government bonds rose from 6.65% in April 2017 to around 7.50% now, liquidity pressures have increased the cost of funds for housing finance companies.
The cash crunch following demonetisation and transaction fees that do not cover costs are among the reasons why the sector is struggling.
Generally, the central bank grants its approval by mid-March, or latest by March 31, but most banks have not received RBI approval on bonus packages this year.
There is a narrow chance that the central bank may cut rates in the future, according to a poll of 15 economists and treasurers.
'We have 100,000 students going abroad every year.' 'So, we have room for at least 100 universities of very high quality to service those 100,000 students.'
State Bank of India hikes lending rates, and other banks pick up the signal.
Customers have other options available to them to do low-value transactions, if wallets start mandating full KYC and would switch to those.
Branch additions for most major banks in the current financial year do not correspond to the number of the past two years.
If the entire amount of Rs 24,000 crore is raised, then it would be the biggest fundraising exercise by any Indian company ever.
The start of BHIM's declining share coincided with the launch of Google Tez in mid-Septem
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