Banking

Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said that after containment of spread of the novel Coronavirus, the financial sector will have to return to its normal operations on their own and without regulatory relaxations.Addressing an online event, Das described the RBI's response to the situation arising out of the pandemic as "unprecedented" and said that...

India’s banking system needs more reforms. said Shaktikanta Das, RBI governer.The Indian economy remains much stronger amid the coronavirus pandemic than it was during the global financial crisis over a decade ago even if growth has slowed, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday. Speaking at an event organised by the Business...

Former RBI Governor D Subbarao made a strong case for setting up a bad bank saying it is not just necessary but unavoidable in the present circumstances when NPAs are likely to balloon and much of the resolution will have to take place outside the IBC framework. Even the Economic Survey 2017 had proposed this idea, suggesting the creation...

Cyril Amarchand Mangaldas acted as the India legal counsel to Adani Ports and Special Economic Zone Limited (APSEZL) on raising funds through issuance of bonds. The Company is the largest commercial ports operator in India and has a Pan-India presence. The Capital Markets team of Cyril Amarchand Mangaldas advised APSEZL on the Transaction. The CAM team played a pivotal...

The Reserve Bank of India (RBI) is pushing banks and non-bank finance companies (NBFCs) to raise capital to brace for a possible pile-up in bad debt in the coming months. Private sector lenders such as ICICI Bank, HDFC Bank and Axis Bank have responded by raising over Rs 50,000 crore among them, but their public sector rivals are seen...

Shares of Union Bank of India on Monday rose nearly 6 per cent after the company reported a standalone net profit of Rs 333 crore in the quarter ended June. The stock gained 5.74 per cent to Rs 32.20 on the BSE. On the NSE, it jumped 5.74 per cent to Rs 32.20. The state-run bank, which amalgamated Andhra...

New measures to allow Indian lenders to restructure loans will provide a "durable" resolution for cash-strapped businesses and help revive the economy, according to the central bank's chief. "On one hand health of banks is very important and on the other hand businesses are under a lot of stress due to covid," Reserve Bank of India Governor Shaktikanta Das...

Kotak Mahindra Bank (Kotak) today announced the launch of the Cardless Cash Withdrawal Facility through ATMs (Instant Money Transfer – IMT). The facility empowers Kotak accountholders to make cash withdrawals as well as remit money to beneficiaries across India without using a physical debit card. Using their registered mobile number with the bank, Kotak customers can initiate the transaction...

As many as five large banks, including SBI, PNB and BoB, are likely to sell shares to institutional investors in the second half of this fiscal as they look to shore up their capital base amid the coronavirus pandemic impacting the economy. Qualified Institutional Placement (QIP) would be the most preferred way and public sector banks are likely to...

GIG-A-Opportunities – a new platform for alternate work models to attract the finest talent, with a promise of growth with flexibility, diversity and inclusivity. Embraces the ‘work from anywhere’ model, in line with the Bank’s Open philosophy and ‘New Ways to Work’ initiative earlier this year Platform expected to boost employment opportunities for talent...