'Privatise Select PSU Banks, Dilute Role of DFS': Raghuram Rajan Calls for Reforms

Raghuram Rajan said India needs strong growth, not just to satisfy the aspirations of youth but to keep the unfriendly neighbours at bay. (Reuters)

Former RBI Governor Raghuram Rajan on Monday suggested the government to privatise select public sector banks, set up a bad bank to deal with NPAs and dilute the role of Department of Financial Services. The reforms are necessary to ensure growth of the banking government without the periodic boom-bust cycles, said a paper titled … Read more 'Privatise Select PSU Banks, Dilute Role of DFS': Raghuram Rajan Calls for Reforms

Global Banks Seek To Contain Damage Over $2 Trillion Of Suspicious Transfers

Eying A Shale Rebound, Liberty Oilfield Strikes Deal With Schlumberger

HONG KONG/LONDON: Global banks faced a fresh scandal about dirty money on Monday as they sought to limit the fallout from a cache of leaked documents showing they transferred more than $2 trillion in suspect funds over nearly two decades. Britain-based HSBC HSBA.L, Standard Chartered and Barclays, Germany’s Deutsche Bank and Commerzbank, and JPMorgan … Read more Global Banks Seek To Contain Damage Over $2 Trillion Of Suspicious Transfers

'FinCEN' documents reportedly show banks moved illicit funds: Report

Five global banks appeared most often in the documents — HSBC Holdings Plc, JPMorgan Chase & Co, Deutsche Bank AG, Standard Chartered Plc and Bank of New York Mellon Corp, the ICIJ reported.

Several global banks moved large sums of allegedly illicit funds over a period of nearly two decades, despite red flags about the origins of the money, BuzzFeed and other media reported on Sunday, citing confidential documents submitted by banks to the US government. The media reports were based on leaked suspicious activity reports (SARs) filed … Read more 'FinCEN' documents reportedly show banks moved illicit funds: Report

RBI Didn't Ask Banks to Raise Capital to Brace for Possible Bad Debts, Says Anurag Thakur

Anurag Thakur in Lok Sabha

Anurag Thakur in Lok Sabha RBI Governor Shaktikanta Das at an event in July had advised that banks need to raise capital on anticipatory basis to build up adequate capital buffers to mitigate risks arising out of coronavirus outbreak. PTI New Delhi Last Updated: September 20, 2020, 7:43 PM IST FOLLOW … Read more RBI Didn't Ask Banks to Raise Capital to Brace for Possible Bad Debts, Says Anurag Thakur

No Data On Number Of Plasma Banks In Country: Government

NDTV News

Plasma therapy has been included in the Clinical Management Protocol for Covid, the minister said. New Delhi: Convalescent plasma therapy has not been recommended by the Ministry of Health as a mainstay of COVID-19 therapy and there is no proposal under consideration to set up plasma banks, Rajya Sabha was informed. In a written reply, … Read more No Data On Number Of Plasma Banks In Country: Government

Eye-Watering Problem: UP Optician's Claim Threatens Banks

NDTV News

Gajendra Sharma, 53, an optician, poses inside his shop selling eye glasses in Agra. Agra: When business evaporated at Gajendra Sharma’s eyeglass shop a few kilometres from the Taj Mahal in Agra during the strict COVID-19 lockdown, he was relieved to hear about a pandemic debt moratorium that would give him breathing room on his … Read more Eye-Watering Problem: UP Optician's Claim Threatens Banks

Sensex, Nifty End Lower For Second Straight Session; Banks Drag

NDTV News

The S&P BSE Sensex and NSE Nifty 50 indexes fell for second straight session dragged by weakness in banking, financial services and FMCG shares. However, losses were caped on the back of strong gains in pharma shares. For most part of the day, benchmarks traded in a range bound manner with a positive bias. However, … Read more Sensex, Nifty End Lower For Second Straight Session; Banks Drag

Sensex, Nifty Off Day's Highs; Pharma Shares Outperform, Banks Subdued

NDTV News

The S&P BSE Sensex and NSE Nifty 50 indexes came off intraday highs in late morning deals as the sharp surge in pharma shares was offset with subdued trading in FMCG, banking, financial services, capital goods and power shares. The benchmarks staged a gap up opening but later turned flat and were trading in a … Read more Sensex, Nifty Off Day's Highs; Pharma Shares Outperform, Banks Subdued

Lok Sabha Passes Legislation To Bring Cooperative Banks Under RBI Control

NDTV News

There are about 1,482 urban cooperative banks and 58 multi-state co-operative banks. New Delhi: In a bid to protect the interest of depositors, the Lok Sabha on Wednesday passed an amendment to the Banking Regulation Act to bring cooperative banks under the supervision of the RBI. The Banking Regulation (Amendment) Bill, 2020 replaces an ordinance that … Read more Lok Sabha Passes Legislation To Bring Cooperative Banks Under RBI Control

Lok Sabha Passes Bill To Bring Cooperative Banks Under RBI Supervision

NDTV News

Finance Minister Nirmala Sitharaman said this legislation is for depositors’ safety New Delhi: In a bid to protect the interest of depositors, the Lok Sabha on Wednesday passed an amendment to the Banking Regulation Act to bring cooperative banks under the supervision of the RBI. The Banking Regulation (Amendment) Bill, 2020 replaces an ordinance that … Read more Lok Sabha Passes Bill To Bring Cooperative Banks Under RBI Supervision