Privatising Public Sector Banks

Assocham calls for Privatising Public Sector Banks

In light of the massive Rs 11,300 crore ($1.8 billion) scam allegedly involving jeweller Nirav Modi that has hit state-run Punjab National Bank (PNB), industry chamber Assocham said on Sunday that the government should surrender its majority control of banks, which should be allowed to function like private sector lenders. “Once the government equity in…

WhatsApp Payments Features WhatsApp Pay

How to use WhatsApp Payments Features WhatsApp Pay

The WhatsApp Pay feature is slowly becoming accessible to Android and iOS users in India. As of now, it has been launched in beta mode for select Android smartphones and iPhones. transactions will be done via Unified Payments Interface (UPI). UPI is a payment method where the user will have to link their bank account…

RBI CIRCULAR

RBI revised framework for expeditious resolution of Bad Loans

The Reserve Bank of India (RBI) on Monday tightened norms for bad loan resolution by setting timelines for resolving large NPAs, failing which banks will have to mandatory refer them for insolvency proceedings. It also withdrew existing debt restructuring schemes such as SDR and S4A. RBI has issued definitions of different resolution plans and an…

Bank of Baroda

Bank of Baroda exit from South Africa

The Bank of Baroda has notified the Office of the Registrar of Banks of its exit from South Africa,” the South African Reserve Bank (SARB) said in a statement, amidst the controversy surrounding the Guptas close links with embattled South African President Jacob Zuma. “The Registrar, which is part of the South African Reserve Bank,…

Education Loan

Banks accept Education Loan Applications only via Online mode

The government has made it mandatory for banks to sanction education loans only through online process and asked them not to consider any application submitted in the physical form, so that the education loan disbursement process becomes transparent and more efficient. “The Department of Financial Services has made it mandatory for all the banks to…