Tag Archives: Banks

Small finance banks need minimum ₹200 crore capital in on-tap licence regime

Mumbai: The Reserve Bank of India on Friday allowed payments banks to apply for small finance bank (SFB) licences, provided they meet the criteria. According to the new draft guidelines for on-tap licencing of private sector SFBs, the promoter of a payments bank is eligible to set up an SFB, provided both banks come under the non-operating financial holding company (NOFHC) structure. Existing rules do ... Read More »

Finance Ministry expects remaining four banks to be out of PCA framework this fiscal

New Delhi: The finance ministry expects the remaining four public sector lenders to be out of the RBI’s prompt corrective action (PCA) framework with the recent round of capital infusion. Currently, Indian Overseas BankNSE -0.96 % (IOB), Central Bank of India, UCO Bank and United Bank of India are under this framework which puts several restrictions on them, including on lending, management compensation ... Read More »

PSU banks launch joint plan to boost economic growth

While the overall credit growth is still at 12%, the flow of credit to small/medium businesses remained weak and export credit growth has contracted. In a bid to kick-start growth, the government has pushed public sector banks to initiate a nationwide campaign to ensure credit flow to businesses, big and small. For the first time, such a massive coordinated effort ... Read More »

Small finance banks dismiss worries about listing for now

Shares of small finance banks are buzzing, with investors seemingly pleased with their efforts to meet the regulatory deadline of listing operating subsidiaries and reducing promoter holding. Currently, the holding companies of these small finance banks are listed. A strong performance in the second quarter has also aided the interest in these stocks. The urgency to hammer out a scheme ... Read More »

For High Fixed Deposit Returns Up To 9%, Choose Small Finance Banks, Non Banking Financial Companies

Mahindra Finance, offers interest rate on fixed deposit at 7.95 per cent for a 15-month fixed deposit. For individual depositors, a bank fixed deposit (FD) is considered the safest form of investment, especially with a large commercial bank such as State Bank of India (SBI). The income from the bank FD is not only safe, but also accessible at any ... Read More »

Just a third of credit-worthy consumers tapped by banks: Cibil report

This segment of eligible consumers promises retail lending opportunities for banks through products such as credit cards, personal loans and consumer durable loans. Photo: iStock Mumbai: Even after the increased focus on retail loans for a decade, banks and other lending institutions have been able to tap only into a third of the estimated 220 million credit-eligible consumers, a report said. ... Read More »

Flipkart Launches 10000mAh and 15000mAh Power Banks Starting at Rs. 799

HIGHLIGHTS Flipkart Billion power banks come in two capacities 10000mAh power bank costs Rs. 799, while 15000mAh is Rs. 999 All USB ports on the power banks are capable of 5V / 2.1A output Flipkart on Friday expanded its Billion brand by launching new power banks. The new Flipkart Billion series power banks come in two models – a 10000mAh version ... Read More »

Crisil Ups Outlook On 18 PSU Banks After Capital Infusion Plan

The government would pump Rs. 88,139 crore into 20 PSU banks before end-March (Representational image) Mumbai: Rating agency Crisil on Friday revised upwards the outlook on 18 state-run banks to ‘stable’ from ‘negative’ and also reaffirmed their ratings following the announcement of capital infusion worth Rs. 88,139 crore by the government. The agency said move will strengthen the balance sheets ... Read More »

Small Finance, Payments Banks To Offer Atal Pension Yojana To Subscribers

There are 11 Payments Banks and 10 Small Finance Banks that have received license from RBI. New Delhi: The Central government on Friday said “Payments Banks and Small Finance Banks” will offer social security scheme Atal Pension Yojana (APY) to their subscribers. “To strengthen the existing channels of APY distribution, it is felt that these new Payments Banks and Small Finance ... Read More »

Android Malware Targets 232 Banking Apps Including Indian Banks: Quick Heal

HIGHLIGHTS Malware is known as Android.banker.A9480 Android banking trojan steals login ID, password, SMS, contact lists Not only banking apps, but cryptocurrency apps affected too An Android malware is reportedly targeting over 232 banking apps including a few banks in India. The Trojan malware, named ‘Android.banker.A9480’, is designed to steal personal data from users, Quick Heal Security Labs reports. Similar to other banking malware, ... Read More »