Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
The current wage revision for PSBs, as well as some private lenders, is due from November 2017 for five years - up to October 2022.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
The decision, the Reserve Bank of India said, "is expected to revolutionise the retail payments system of the country".
Consolidation will help banks derive economies of scale, but integration will not be easy.
All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.
Borrowers wanting to prepay home loans can look forward to some relief as RBI on Tuesday indicated that it would scrap prepayment penalties charged by banks.
The move will help curb card frauds. Currently, customers use only personal identification number for automated teller machine transactions.
The Indian Banks Association has suggested certain alternative proposals on pension after meeting the representatives of United Forum of Bank Unions, general secretary of the All India Bank Officers' Association R J Sridharan said.
Tax shortfall: Finmin asks banks to deposit March TDS by month end.
As their non-performing assets have risen sharply even as loans have remained stagnant, RBI steps in with stringent loan-management measures.
At 3.5 per cent per annum, interest on savings accounts is the only regulated rate in the banking system currently and a highly contentious one given its impact on the common man.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
Lenders say settlements will cross over 100 accounts in the March quarter.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
The Delhi Police Cyber Cell has arrested 12 people, including three HDFC Bank employees, for allegedly trying to withdraw money from the account of an NRI, officials said on Tuesday.
The unions have called for a strike against proposed closure of associate banks and their merger with the State Bank of India
Banks Board Bureau chief Vinod Rai has proposed performance-linked incentives for bank employees, but the staff unions are dead against the idea.
Not ordering disclosure of details of electoral bonds prior to April 12, 2019, was a "conscious choice" by the Constitution bench, the Supreme Court said on Monday while refusing to entertain the submissions of ASSOCHAM and CII against the disclosure of bond details on the ground of their plea not being listed.
Unlike the new private sector lenders, BoR employees' wages are still governed by the industry wage package negotiated by the Indian Banks Association with bank staff unions.
Making a strong case for banning cryptocurrencies, Reserve Bank Deputy Governor T Rabi Sankar on Monday said they are even worse than ponzi schemes and threaten the financial sovereignty of a country. Observing that crypto-technology is underpinned by a philosophy to evade government controls, he said they have been specifically developed to bypass the regulated financial system. More substantially, he added, cryptocurrencies can wreck the currency system, monetary authority, banking system, and in general the government's ability to control the economy.
Severe heatwaves, responsible for thousands of deaths across India over the last few decades, are increasing with alarming frequency and soon the country could become one of the first places in the world to experience heatwaves that break the human survivability limit, according to a new report.
India has received the fourth set of Swiss bank account details of its nationals and organisations as part of an annual automatic information exchange under which Switzerland has shared particulars of nearly 34 lakh financial accounts with 101 countries.
The World Bank has approved loans totalling $1.75 billion (about Rs 13,834.54 crore) to fund India's PM Ayushman Bharat scheme and private investment to boost the economic growth. Of the total loan, $1 billion will go towards the health sector, while the rest $750 million will be in the form of development policy loan (DPL) to fill the financing gaps through private sector investment in the economy. The World Bank Board of Executive Directors approved two complementary loans of $500 million each to support and enhance India's health sector.
Lone, who is contesting the Lok Sabha polls from Baramulla constituency, said one of the reasons he wants to go to Parliament is to strive and advocate for the same set of laws for the children of Kashmir and the rest of the country.
Bad loans of PSU banks rose by 28.5 per cent.
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
The AISBOF wants bank employees' wage revision in parity with that of the Indian Administrative Services officers. Last month, the IBA had given an initial offer of 10 per cent wage hike, or a package which would cost the industry Rs 2,750 crore (Rs 27.5 billion), against Rs 2,220 crore (Rs 22.2 billion) in the eighth bipartite meeting between bank unions and IBA.
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
The apex bank is scheduled to announce the quarterly review of its annual monetary policy on January 29, when it is widely expected to hike the cash reserve ratio or the percentage of amount banks park with the RBI to absorb excess money from the system.
With the addition of the seven banks - South Indian Bank, Karur Vysya, State Bank of Hyderabad, State Bank of Bikaner, State Bank of Travancore, State Bank of Mysore, and Punjab and Sind Bank - the number of banks allowed to import the precious metals now stands at 30.
Soon, there will be an exchange-like platform for trading in loans.
'We expect the bull-market phase to still persist, but now led by large-caps which offer better valuation and benefit from FII inflows.'
'We expect continued pressure on midcaps, but any sharp correction looks unlikely from here on.'
It further asked the government to make suitable arrangements for smooth functioning of the bank.
Officials said the IBA had three major agendas to discuss, the most important being to persuade the unions to accept the new pension scheme, otherwise known as the contributory pension scheme, for new bank employees. Currently, the bank unions are vehemently opposing it since unions of no other sector has accepted it to date.
The All India Bank Employees Association, Bank Employees Federation of India, All India Bank Officers' Association and National Union of Bank Employees have given a call for one day country-wide strike.
The dismissal of the five --most of whom have cases registered against them for terror activities -- was ordered under Article 311 of the Indian Constitution.
Banks are also weighing the option of hiring experts for help in specialised areas.
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