'If she contests it, then these people will have to fight it in court.'
"We may rope in a consultant for our proposed foray into banking business, if that is required. This will happen after the final guidelines on banking license is out by the Reserve Bank of India (RBI)," Director and Chief Executive of LIC Housing Finance, V K Sharma said.
'The fundamentals look strong, but we will have to see if they translate into actual demand.' 'Because the April-May marriage season didn't see much sales due to the lockdown.'
Industry's wait for new bank licences may get a bit longer as the Reserve Bank of India's (RBI's) suggestions to amend the Banking Regulation Act will not be incorporated in the report of the Standing Committee on Finance in the Banking Laws (Amendment) Bill, 2011.
While a wallet is convenient, payments bank offers interest on deposits and ATM facility.
Credit card usage over phone will need an additional security layer from Tuesday, as the RBI has made it mandatory for customers to get a single-use password from their banks for every such transaction.
Maharashtra Chief Minister Uddhav Thackeray on Sunday night announced a statewide curfew in Maharashtra for 15 days from April 14. However, he clarified, essential services were exempt from the curbs.
Reserve Bank of India has slapped a penalty of Rs 500,000 on Citi Group for failing to comply with 'Know Your Customer' guidelines by letting fake stamp scam accused Abdul Karim Telgi and associates to open accounts with the foreign bank.\n\n\n\n
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
A strong start-up ecosystem can propel investment, jobs, and demand creation, and for that, substantial growth capital is required.
Both the RBI and the central government should see that the transmission of the rate reduction by the banks happens soon, otherwise the whole exercise is futile, says Subramanian MV.
The framework also envisages amendments to the Prevention of Corruption Act to exempt commercial decisions by PSBs from scrutiny by investigating agencies. Both the amendments are likely in the monsoon session of Parliament.
The Reserve Bank of India has observed that several banks were not complying with the guidelines issued by it on reporting revaluation of foreign currency assets and liabilities, which sometimes led to errors.\n\n
If you fail to carry out any transaction for 24 months through your bank account, it can be frozen.
India is considering allowing new private sector banks, including by industrial houses, and a roadmap for the same could be announced in the annual Union Budget to be presented later this month.
Absence of comprehensive data protection and privacy laws will be barriers in the government's digitalisation drive.
Leaving behind the luxe life and dapper suits of foreign banks, Puri and his team at the upstart venture shared fizz drinks, wore a footwear brand popular among the middle class, shared a rat-infested space in a yet-to-be gentrified work space to plan and execute it.
Experts said the rules will help curb market manipulation and money laundering, which could take place during the transfer of shares between residents and NRIs.
Most borrowers may not be aware, but quite a few banks already offer external benchmark linked home loans to favoured borrowers, says Harsh Roongta.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
The central bank will come out with fresh set of guidelines for companies applying for on-tap bank licence
RBI to issue discussion paper on new licence conditions this week.
Money is being released and the government knows it will have to front-run private investment.
Tata, 78, who retired as Tata Group Chairman nearly four years back, justified his return for "maintaining stability and continuity of leadership" and promised to give the group "a world-class leader" when a fulltime boss is appointed.
Replying to supplementaries during Question Hour in Rajya Sabha, minister for micro, small and medium industries Mahavir Prasad said the RBI had in September 8, 2005 issued guidelines relating to debt restructuring mechanism for SMEs, based on the 'policy package for stepping up credit to SMEs' announced by the Centre the same year.
Small charges might seem inconsequential. They can pile up, though.
Sarvjit Singh Samra's Capital Local Area Bank offers attractive features.
ECBs may be allowed to put loans upto $ 500 million for rupee expenditure by Indian infrastructure companies under the automatic approval route. At present, such loans need RBI approval. The government may also raise the limit for dollar borrowings for rupee expenditure, which would need RBI approval. So, if a company is borrowing say $ 750 million, it can immediately access foreign funds up to $500 million without prior permission, but will need approval for the rest.
Base rate system set to replace BPLR system for loan rates.
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Reliance, Birla Group, Airtel eye small finance banks.
The macro economic situation and currency depreciation might top the priority list of Reserve Bank of India (RBI) governor-designate Raghuram Rajan.
Traditionally, financial institutions have operated risk functions in silos. However, the nature of unknown threats today requires industry participants to work together, says Vikram Limaye.
If you are one among the millions of existing borrowers who are paying a higher interest rate compared to new borrowers of the same bank, make your shift now, before prepayment charges make it more expensive.
Withdrawals from basic savings bank deposit accounts are capped at four a month, including withdrawals via ATMs.
On Tuesday, the 32-member Parliamentary Committee is understood to have met officials of the Securities and Exchange Board of India, Reserve Bank of India, stock exchanges, various brokers, Unit Trust of India, Life Insurance Corporation and State Bank of India. The committee is expected to meet officials of the finance ministry next week.
What will be its impact on the banks's balance sheets? Since banks need to provide for 10 per cent of the loans restructured, they would need Rs 50,000 crores to Rs 80,000 crore for this purpose, notes Tamal Bandyopadhyay.
The interest money which is not claimed by people due to religious obligations is kept in suspended bank accounts.
Focus to be on unbanked areas; initial capital is set at Rs 100 crore; India Post can apply.
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