Concerned over the rise in mis-selling of products by banks and non-banking financial companies (NBFCs), the Reserve Bank of India (RBI) is examining whether to come up with norms to curb such practices. Observing that pushing financial products, such as insurance, indiscriminately to unaware consumers may be detrimental to their well-being, RBI Deputy Governor M Rajeshwar Rao said, "We are examining whether it necessitates framing of guidelines to address mis-selling of financial products and services by REs (regulated entities)."
Kerala Chief Minister Pinarayi Vijayan on Monday urged various banks to write off the loans availed by landslide victims and survivors in Kerala's Wayanad.
'The CM kept his cool, but his adviser was liberal with filthy language.' Tamal Bandyopadhyay recreates the diary of a general manager in a public sector bank, providing a glimpse of how they balance their work and life.
Addressing officials of Puducherry government and various banks at a meeting organised by state level Bankers Committee in Puducherry, Chidambaram said 'with the availability of banking technology, the scheme is not a complex arrangement but an easy programme.'
"Large-scale corruption is being alleged in schemes being executed through banks... the top authorities must take the matter seriously and help curb corruption," Kumar said while addressing the meeting of the State Level Bankers' Committee (SLBC).
Bankers' committee suggests banks lend to meritorious students without collateral.
All documents and data were safe as there was a Disaster Recovery Centre for every bank
The much awaited implementation of the over Rs 71,000 crore (Rs 710 billion) farm debt waiver and relief scheme got underway on Thursday with public sector banks, regional rural banks and cooperatives displaying names of the beneficiaries at branches.
Union Finance Minister Pranab Mukherjee while presenting the Budget 2009-10 in Lok Sabha on Monday announced that a sub-committee of State level Bankers Committee (SLBC) would identify and formulate an action plan for providing banking facilities in under-banked/unbanked areas in the next three years.
The cash transactions have been stopped at the branches belonging to the Jammu and Kashmir Bank and Ellaquai Dehati Bank.
Fadnavis assured them of transferring land rights within the next three months.
The government will stand guarantor for loans to be disbursed to youth from the community.
An estimated 223 people have lost their lives since August 8 in Kerala's worst floods in decades that has caused damage worth more than Rs 20,000 crore.
'If supply of cash is not sufficient from the RBI, it may create difficulty for both banks and people.'
Around 10 crore bank accounts opened under the Jan Dhan scheme.
The Jan Dhan scheme restricts the scope of life insurance cover to bring down burden on the exchequer.
Even if they score administratively, state governments ruled by the party suffer from an inability to communicate positively, say observers.
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