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News - (Get Professional Updates on Whatsapp, Msg on 8285393786) Category : Banking

NRIs warned against taking rupees into India
Posted Date : 08-Sep-2013 , 08:43:22 am | Posted By CASANSAAR

UAE's Central Bank has asked all banks and exchange houses to advise their customers not to carry rupees into India. The Central Bank also asked banks and money changers to warn their customers of the consequences of failing to do so. "The penalties stipulated in the new (Indian) law inclu...

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Category : Banking | Comments : 0 | Hits : 400

RBI stops down payment scheme for home loans
Posted Date : 03-Sep-2013 , 09:06:20 pm | Posted By CASANSAAR

The Reserve Bank on Tuesday asked banks to link the disbursal of home loans to stages of construction to protect the interests of buyers and contain the fallout of "innovative" housing financing schemes. "In view of the higher risks associated with such lump-sum disbursal of sanctioned housing lo...

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Category : Banking | Comments : 0 | Hits : 691

Public sector banks faces shortage of 56,000 employees
Posted Date : 25-Aug-2013 , 06:35:49 pm | Posted By CASANSAAR

Public sector banks face a shortage of 56,022 personnel across various cadres and the lenders are at different stages of filling these posts, official sources said. In the officer category, 25 public sector banks have 23,794 vacancies as of March, 2013. Of this, 5,815 officer level posts are inBank...

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Category : Banking | Comments : 0 | Hits : 581

Follow uniform holiday calender for CTS cheque clearing: RBI
Posted Date : 24-Aug-2013 , 08:08:56 am | Posted By CASANSAAR

The Reserve Bank today directed banks to adopt a uniform holidays calender to streamline cheque clearing system forCheque Truncation System (CTS) centres in New Delhi, Chennai and Mumbai."The CTS centres in New Delhi, Chennai and Mumbai will adopt RTGS holidays as ...

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Category : Banking | Comments : 0 | Hits : 441

RBI fines 6 banks for violation of KYC norms
Posted Date : 23-Aug-2013 , 07:32:29 pm | Posted By CASANSAAR

The Reserve Bank of India penalised six public sector banks of Rs 6.5 crore for violating Know Your Customer (KYC)/Anti Money Laundering (AML) guidelines of the central bank.   The six banks fined were Dena Bank (Rs 2 crore), Corporation Bank (Rs 1.5 crore), IDBI Bank and Indian Bank (Rs 1 cr...

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Category : Banking | Comments : 0 | Hits : 792

NPAs of Public Sector Banks
Posted Date : 20-Aug-2013 , 07:08:23 pm | Posted By CASANSAAR

As per provisional data received from the Reserve Bank of India (RBI), the Gross Non-Performing Assets (NPAs) of Public Sector Banks (PSBs) as on 30th June 2013 was Rs. 1,76,009 crore.  The Gross NPAs of PSBs were Rs. 1, 12,489crore in March 2012 and Rs. 1, 55,890 crore...

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Category : Banking | Comments : 0 | Hits : 460

Kerala government gets Reserve Bank of India nod for Islamic banking
Posted Date : 19-Aug-2013 , 08:21:45 am | Posted By CASANSAAR

The Kerala government has got a go-ahead from the Reserve Bank of India to launch a financial institution following the principles of Islamic finance. Cheraman Financial Services Limited(CFSL) will be floated by Kerala State Industrial Development Corporation to function as ...

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Category : Banking | Comments : 0 | Hits : 314

Irda allows banks to act as insurance brokers
Posted Date : 09-Aug-2013 , 09:38:02 pm | Posted By CASANSAAR

Insurance regulator Irda has allowed banks to act as brokers and sell products of more than one insurer so as to increase the penetration of the sector across the country. There is no capital requirement for insurance broking business carried out by banks, according to Irda (Licencing...

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Category : Banking | Comments : 0 | Hits : 230

Cabinet approves setting up of all-women bank
Posted Date : 09-Aug-2013 , 05:32:26 pm | Posted By CASANSAAR

Paving the way for setting up of all-women bank , the government on Thursday approved Rs 1,000-crore seed capital for Bhartiya Mahila Bank Ltd. The Cabinet cleared setting up of all-women bank, sources said. Earlier this week, Minister of State for Finance Namo Narain Meena had said in a...

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Category : Banking | Comments : 0 | Hits : 316

Banks to NAME & SHAME guarantors for loan defaulters
Posted Date : 09-Jul-2013 , 01:49:51 pm | Posted By CASANSAAR

Tightening their noose on loan defaulters, banks have decided to 'name and shame' the guarantors of such borrowers as well by publishing their photographs and other details in newspapers and at notice boards of bank branches and community centres. Banks, mostly public sector lenders, began publishi...

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Category : Banking | Comments : 0 | Hits : 446

Bank manager, two others arrested for demanding bribe
Posted Date : 06-Jul-2013 , 08:35:22 pm | Posted By CASANSAAR

A bank manager and two others have been arrested for allegedly demanding a bribe of Rs 7,000 from a farmer, police said today.   Manager of Allahabad Bank, Auradeeh Branch, Ramesh Verma, a peon and a facilitator were arrested by a CBI team yesterday during a raid for demanding Rs 7000 as brib...

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Category : Banking | Comments : 0 | Hits : 612

Top 30 bad loans responsible for half of gross non performing accounts (NPA)
Posted Date : 04-Jul-2013 , 08:12:46 am | Posted By CASANSAAR

The top 30 bad loans in each commercial bank are responsible for almost half of the gross non performing accounts (NPA) in the Indian banking system. The worst affected are foreign banks in the country where the top 30 non-performing loans account for 84% of the gross NPAs as on March 2013...

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Category : Banking | Comments : 0 | Hits : 682

No ceiling on number of new bank licences: FM
Posted Date : 02-Jul-2013 , 05:17:02 pm | Posted By CASANSAAR

With 26 public and private sector companies applying for banklicences, Finance Minister P Chidambaramhas said that there was no ceiling on the number of entities which can be permitted to operate a bank. "I don't think there is a ceiling. I don't think there is a number...

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Category : Banking | Comments : 0 | Hits : 406

Banks should have separate wealth management unit: RBI draft
Posted Date : 29-Jun-2013 , 11:28:19 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has proposed tough norms for banks involved in wealth and portfolio management services (W/PMS), mandating them to segregate sales and advisory activity, and threatened to bar them from money markets for violation of guidelines. It plans to put a blanket ban on t...

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Category : Banking | Comments : 0 | Hits : 206

Long-term liability key to improve funding gap in India's banking system
Posted Date : 19-Jun-2013 , 08:23:40 am | Posted By CASANSAAR

Structural imbalances in the Indian bankingsystem's funding structure are diluting monetary policy transmission, crowding out corporates from money market and discouraging long-term savings in the economy. Banks' growing dependence on short-term deposits to fund an incr...

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Category : Banking | Comments : 0 | Hits : 224

ICICI, Axis, HDFC Bank fined over Rs. 10 crore for violating KYC norms
Posted Date : 10-Jun-2013 , 06:53:11 pm | Posted By CASANSAAR

The Reserve Bank of India on Monday said it had imposed penalties on Axis Bank, HDFC Bank and ICICI Bank for violating guidelines related to details of customer identity known as "know your customer" rules. The central bank investigated the banks following an investigation ...

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Category : Banking | Comments : 0 | Hits : 642

FinMin asks public sector banks to not sell gold coins
Posted Date : 06-Jun-2013 , 09:40:19 pm | Posted By CASANSAAR

In a move to curb the demand for gold, the finance ministry has asked the public sector banks not to sell gold coins to their customers. According to bankers, the view was communicated by the finance minister P Chidambaram and other finance ministry officials at a meeting today in th...

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Category : Banking | Comments : 0 | Hits : 281

Deadline for banks to allot unique ID to customers extended
Posted Date : 02-Jun-2013 , 01:15:06 pm | Posted By CASANSAAR

The Reserve Bank has extended the deadline for banks to complete the process of allotting a unique customer identification code to their customers, to March 31, 2014.   Banks, however, will have to allot the unique customer identification code (UCIC) to all customers while entering ...

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Category : Banking | Comments : 0 | Hits : 379

CanBank to refer loan recast to RBI, post auditors’ objection
Posted Date : 18-May-2013 , 03:06:33 pm | Posted By CASANSAAR

Auditors of Canara Bank, India's fifth largest state-owned lender by assets, took objection to the management's decision to restructure loans of a particular borrower. The loan amounts to almost 20% of the bank's fresh restructuring of around Rs 18,110 crore in the March quarter. Fresh res...

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Category : Banking | Comments : 1 | Hits : 412

Public Sector Banks take Action against Various Officers/Employees for Violation of Banking Norms and Regulations
Posted Date : 07-May-2013 , 07:30:18 pm | Posted By CASANSAAR

In connection with Cobrapost, Red Spider 2 Expose which was released yesterday, Shri Rajiv Takru, Secretary, Department of Financial Services (DFS), Ministry of Finance had asked the Chairman cum Managing Directors (CMDs) of various Public Sector Banks (PSBs) and Life Insurance Corporation (LIC) of ...

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Category : Banking | Comments : 0 | Hits : 349

Banks under RBI scanner for sale of gold investment products
Posted Date : 29-Apr-2013 , 09:22:41 am | Posted By CASANSAAR

The Reserve Bank is looking into sale of gold coins and gold-related investment products by about 30 banks to find out whether their employees are mis-selling such products to customers.   The RBI move follows complaints of customers being induced by bank employees and non-staff members withi...

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Category : Banking | Comments : 0 | Hits : 327

Women Empowerment - Archana Bhargava appointed as CMD of United Bank of India
Posted Date : 24-Apr-2013 , 06:51:12 pm | Posted By CASANSAAR

The Centre has appointed Archana Bhargava as Chairman & Managing Director of United Bank of India, a public sector lender.   Prior to this appointment, Bhargava was an Executive Director at Canara Bank (since April 1, 2011).   She has assumed charge of her new posting on Tuesday at...

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Category : Banking | Comments : 0 | Hits : 522

FinMin asks banks to get ready for 2nd phase of DBT scheme
Posted Date : 21-Apr-2013 , 07:40:10 pm | Posted By CASANSAAR

With government set to launch the second phase of Direct Benefit Transfer(DBT) scheme, Finance Ministry has asked PSU banks to put in place robust automated systems to ensure that the beneficiaries list does not undergo any changes. "All banks...need to have robust automated syst...

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Category : Banking | Comments : 0 | Hits : 297

Banks Will Now Be Fined Rs 1 Cr For Violating Every Single Norm
Posted Date : 20-Apr-2013 , 04:55:46 pm | Posted By CASANSAAR

The Reserve Bank of India (RBI) will now be able slap a penalty of Rs 1 crore on banks if they breach a single norm. If more than one norm is breached, then the fine will be multiples of Rs 1 crore. Earlier, the fine was Rs 5 lakh for a single violation. The new norm came into effect after Section ...

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Category : Banking | Comments : 0 | Hits : 728

Banks may raise margin requirement for gold loans
Posted Date : 18-Apr-2013 , 08:34:24 am | Posted By CASANSAAR

Following a sharp fall in gold prices over the past few days, banks have started reviewing the margin requirement for loans against the yellow metal. After dropping Rs 3,160 over the last three sessions, gold prices on Wednesday fell Rs 90 to Rs 26,350 per 10g, the lowest level since August 17, 201...

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Category : Banking | Comments : 0 | Hits : 308

SC orders banks to deposit Rs 400 crore
Posted Date : 16-Apr-2013 , 08:33:21 am | Posted By CASANSAAR

The Supreme Court, on Monday, ordered nationalised banks - Punjab National Bank, Union Bank of India and the Indian Bank - to deposit a sum of Rs 400 crore within 15 days with the Prothonotary and Master of Bombay High Court as part of the bank guarantee money due to the Boa...

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Category : Banking | Comments : 1 | Hits : 495

Finmin asks banks to bring down net NPA to 1% by Mar '14
Posted Date : 14-Apr-2013 , 09:03:05 pm | Posted By CASANSAAR

Setting a stiff target for all public sector banks, the Finance Ministry has directed them to expedite the recovery process and bring down net NPAs to 1 % of their total advances by the end of 2013-14 fiscal."We have asked banks to bring down their net NPA to 1 % of the total advances by March 201...

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Category : Banking | Comments : 0 | Hits : 374

FinMin asks PSU banks to limit loan write-offs
Posted Date : 31-Mar-2013 , 07:23:47 pm | Posted By CASANSAAR

The Finance Ministry has asked public sector banks to limit the amount of loan write-offs and sought details of recoveries made by them in the six years ending 2011-12 with an aim to improve the finances of PSU lenders.   It has also asked the banks to ensure that the amount written off b...

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Category : Banking | Comments : 0 | Hits : 303

Basel III norms for Indian banks from April 1: RBI
Posted Date : 23-Mar-2013 , 12:55:29 pm | Posted By CASANSAAR

The Reserve Bank of India (RBI) will soon issue a notification for the implementation of the Basel III capita l regulations by Indian banks from April 1, central bank governor D. Subbarao said on Friday. "We are going to issue a notification next week for banks to implement the Basel III ...

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Category : Banking | Comments : 0 | Hits : 470

Systems to prevent money laundering in India perfect, says RBI
Posted Date : 21-Mar-2013 , 05:06:43 pm | Posted By CASANSAAR

The Reserve Bank today sought to downplay the money-laundering allegations against three private sector banks, saying the country has a "perfect" system to prevent such offences and that not a single such transaction took place in the sting operation. The country's three largest private banks -- IC...

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Category : Banking | Comments : 0 | Hits : 385

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