'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
The bank unions had threatened to go on 4-day strike from February 25.
The RBI plans to increase e-smart facility.
The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
Microsoft will stop technical support for its most popular operating system (OS) Windows XP globally from Tuesday, bringing down curtains on the software giant's longest running OS.
For banks, the package will limit the burden of provisioning for stressed loans. Besides, the proposed restructuring package for MSMEs with a credit of up to Rs 25 crore is expected to provide a breather to units from this sector.
The current process for selecting auditors could compromise their "independence".
Macroeconomic factors under control, says Rajan
The resolution plan has to be put to work this month itself. Jet has a debt of over Rs 8,000 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.
The government has asked the Indian Banks' Association to make sure that IDBI Bank's wages are on a par with other banks.
Banks argued that loans of most lenders are funded primarily by retail deposits and not from the wholesale market as was the practice abroad
In his Budget speech, the finance minister said: "We propose to facilitate higher investment in affordable housing. Affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits."
If you default, it will affect your credit score and your career.
Around 10 crore bank accounts opened under the Jan Dhan scheme.
Head of state-run Indian Bank T M Bhasin had called for a CRR cut.
SBI Chairperson Arundhati Bhattacharya said any rate cut by the bank would depend on a lot many factors.
At present, there is no cap on free transactions at own-bank ATMs, while customers can use other banks' machines up to five times a month without any extra cost.
Banks Board Bureau chief Vinod Rai has proposed performance-linked incentives for bank employees, but the staff unions are dead against the idea.
Jaitley said the government had earmarked Rs 25,000 crore (Rs 250 billion) for recapitalisation.
Ruling out a cut in lending rates, bankers said the status quo policy stance of the Reserve Bank will be followed by them, at least in the near-term.
From Dabur to HUL, here are 10 stocks with significant rural exposure in the auto, agri-chemical and fast moving consumer goods sectors, which should see an uptick in sales growth.
The cap of Rs 10,000 on daily withdrawal has also been removed.
The overdraft facility has been sanctioned in only 40,000 accounts
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The Reserve Bank on Monday warned lenders against outsourcing their credit processing activities to third-party entities.
From Kudankulam to the Land Bill, the author takes the Twitter route to capture the infra action of 2013.
