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NPCI asks banks to reject UPI transactions from non-compliant apps

Circular makes it mandatory for all UPI apps to support transmission of money through VPA, generate QR codes for Bharat QR or UPI QR

Rs 129-billion scam fallout: RBI to resolve impasse over PNB liabilities

Finance ministry officials said the central government was not authorised to examine loan accounts above Rs 50 million and hence could not resolve the disputes among banks

Corruption at regulator? Irdai member aided, abetted graft, says SAT

The tribunal has directed Irdai to entrust the matter to an officer other than Joseph for passing a fresh order

PNB scam fallout: Here's why banks must relook at indemnity policies

Given the reluctance to part with data and tendency to minimise the risks, those in the segment say banks need to seriously relook at whether they're covered for a PNB-type case

Rs 91-million Chandri Paper fraud reported to CBI on February 13, says PNB

Fraud had already been declared in respect of the fradulent and unauthorised issuance of two LoUs for Rs 91 million

Farmers protest: Banks give crores to Nirav Modi, what about us? updates

Nirav Modi had acquired land of the farmers by conning them

Issued bank guarantees of Rs 1.55 bn to NSIC against 100% margin: UBI

NSIC sought confirmation for further BGs amounting to Rs 180 million which, according to UBI, are non-existent in its records

PNB scam: Bank to focus on internal audits, recovery, small depositors

Bank outlines multi-pronged strategy to strengthen internal controls in its EGM held on Friday

RBI needs to work with govt to take action against PSBs, says Rangarajan

RBI's action in banning of Letters of Undertaking (LoUs) could be reviewed later, says former RBI head C Rangarajan

Fraud-hit PNB faces dilemma over revealing price-sensitive information

On February 11, the bank said it had detected «fraudulent and unauthorised transactions» worth $1.78 billion

PNB scam: SFIO probing 107 firms and 7 limited liability partnerships

The government ordered the investigation on February 17, 2018, says PP Chaudhary

Nirav Modi fraud: PNB to honour bonafide LoU; increase its focus on CASA

PNB reassured its shareholders, customers, partners and employees on the bank's capability and capacity to come out of this situation

25% overseas branches of public sector banks reported losses in FY17

The Union government said on Friday that one-fourth of all foreign branches of public sector banks reported losses last financial year.«As per data reported by PSBs, 159 branches of PSBs are operating in foreign countries, of which41 branches were in lo

Banks' NPA steadily rising, reached Rs 7.77 mn till Dec 2017: MoS Finance

MoS for Finance Shiv Pratap Shukla said gross non-performing assets under the 'Industry-Large' category for all banks soared to Rs 5.27 trn as on Dec 2017 from Rs 1.23 trn on March 31, 2015

1,700 card, net banking-related frauds worth Rs 714.8 mn reported in 2017

In December 2017 alone, 187 cases with losses touching Rs 337.3 million was reported, K J Alphons said

Andhra Bank takes large NPA hit from iron & steel and infra sectors

BS ReporterHyderabad, 16 March: Iron and Steel and infrastructure sectors contributed to almost 50 percent of Andhra Bank's gross non-performing assets (NPAs) as the bank continues to witness more slippages during the current financial year. A fresh Rs 58.35

PNB fraud: There can't be parallel inquiry by courts, Centre tells SC

The attorney general contended that why such petitions should be entertained by the courts unless there was something wrong shown by petitioner

GIC-RE eyes global footprint with entry into Lloyd's trading in April

SAARC region's largest re-insurer names seasoned Lloyd's market practitioner as Active Underwriter; targets 60:40 domestic to international biz ratio

Bankruptcy Code: Finance professionals on a roll as NCLT cases surge

With 600-700 new NPA cases getting admitted into NCLT every month, demand for Resolution Professionals is on the rise; their number has more than doubled in less than a year

Money laundering: ED files another case in alleged Rs 1.73-bn fraud at UBI

The case has been registered under the Prevention of Money Laundering Act

PSBs plan tighter lending norms for corporate loans above Rs 2.5 billion

Public sector banks have decided to improve their risk-management systems

ICICI Securities IPO: Public holidays may cost ICICI Bank Rs 3 bn in taxes

The IPO proceeds of Rs 40 billion are capital gains the private lender would be booking by divesting around 24 per cent stake in the investment banking arm

RBI governor Urjit Patel's statements 'unbecoming', say officials

The official said, RBI had more power over private sector banks than over PSBs and a level playing field should be created in regulating PSBs

HDFC Bank raises Rs 23 billion through issuance of rupee-denominated bonds

The issue carries a fixed coupon rate of 8.10% per annum with maturity on March 22, 2025

Scandals to bailouts fail to dent analysts' faith in emerging-market banks

Strategists from Renaissance Capital to Newton Asset Management say emerging markets are so heterogeneous that idiosyncratic risks don't alter the big picture

Blame game over PNB fraud would take us nowhere, says Venkaiah Naidu

The issue is not 'this regime or that regime', the issue is that of people losing confidence in the banking system, Naidu said

Banks to adopt risk management system in 6 months to stop PNB-like fraud

Banks will be putting up their action plan to respective boards and in 3 to 6 months action plan would be implemented by banks

Merger with associate banks led to higher account closure this year: SBI

SBI on March 13 had substantially reduced charges for non-maintenance of average monthly balance (AMB) in savings accounts, which would benefit 250 million bank customers

Nirav Modi fraud: Public sector banks expect PNB to honour LoUs

They were all issued by PNB and against that we have made payment, SBI's Deputy Managing Director said

Except for PNB, no unauthorised LoUs issued by PSBs: SBI official

Reserve Bank has stopped banks from issuing LoUs and Letters of Comfort for trade finance for imports into the country

Low operating expense, high yields to help NBFCs' grow their rural books

Bajaj Finance Limited increased their urban outlet network by 40.3% to 529 stores at the end of December 2017

'RBI to be Neelakantha': Urjit on Nirav Modi PNB fraud; top 10 developments

RBI chief Patel's comments came against the backdrop of Punjab National Bank being defrauded of around Rs 135.4-billion, allegedly by billionaire jeweller Nirav Modi and his uncle Mehul Choksi

PNB detects Rs 91 mn-fraud at Mumbai branch where Nirav Modi scam unfolded

The new alleged fraud of around Rs 91 million involves officials of a little known company called Chandri Paper and Allied Products Pvt Ltd

IFC continues to back private equity funds despite poor returns

The problem is that most of these funds have under-performed: they have returned less than a fourth of this money, yielding single-digit returns for the portfolio

Scrapping of guarantees by RBI to hit foreign branches of Indian banks

Many medium size and small enterprises (SMEs) will also face the heat, say banking officials

'Tough to prevent PNB-like fraud': Patel slams govt for diluting RBI powers

Governor says frauds like PNB are painful; regulatory powers must be ownership-neutral

RBI may cut key policy rates by 25 bps in August to cool yields: BofAML

As per the global brokerage, fundamentals of the country like growth, money supply and monsoon, point to a benign inflation outlook

PNB fraud: RBI guv Urjit Patel blames regulatory constraints for scam

We at Reserve Bank also feel anger, hurt and pain at banking sector frauds and irregularities, he said

Ban on LoUs by RBI will have disruptive impact, raise cost of credit: CII

PHD Chamber President Anil Khaitan said banning of these instruments is not a solution to curb malpractices or scandals
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