A day after the bank unions wrote to the Finance Minister asking it to scrap deposit insurance cover on bank deposits, the All-India Reserve Bank Employees Association (AIRBEA) has asked the government to raise the insurance cover to Rs 10 lakh from Rs 1 lakh now.

Bank, RBI unions differ on deposit insurance

At present DICGC insures each bank depositor upto Rs 1 lakh for both principal and interest.

20 Nov 2019 3:47 AM

While corporate private banks’ earnings have been impacted by the one-time deferred tax asset (DTA) write-downs, the retail-focussed banks reported better profitability. In contrast, most public sector banks continued with the 35 per cent corporate tax regime, and therefore, no adjustments were requi-red in DTA.

Private banks stay in profit, PSBs return to losses

The GNPA of private banks grew from Rs 185,027 crore during Q2FY19 to Rs 191,191 crore in Q2FY20 i.e. by 3.3 per cent.

20 Nov 2019 3:36 AM

Call to exempt banks from deposit cover

The claims settled so far since 1962 is only Rs 5,120 crore and that too for the co-operative banks” added Venkatachalam.

19 Nov 2019 3:48 AM

The recent Supreme Court’s landmark judgement on Essar Steel case will see healthy recoveries for several banks, including State Bank of India (SBI), ICICI Bank, Axis Bank, Bank of Baroda and Punjab National Bank, which would boost their Q3 earnings.

Major recovery for SBI, ICICI from Essar verdict

Secured financial creditors will recover 92 per cent of their exposure of Rs 42,000 crore to Essar Steel.

19 Nov 2019 3:37 AM

According to forex experts, the rupee would continue to remain weak on global and domestic concerns.

Rupee tumbles 62 paise, could remain weak

The numbers highlighted the persistent structural slowdown in the economy and firmed expectation of further monetary easing by the RBI.

14 Nov 2019 4:23 AM

SFBs would need nearly Rs 3,900crore till FY22: ICRA

SFBs have made good progress on deposit mobilisation.

12 Nov 2019 2:39 AM

Surveyors oppose hike in limit for self-assessment

The new limits are against the customers and could also impact the livelihood of around 12,000 surveyors.

11 Nov 2019 2:37 AM

In order to enhance the scope of services offered under wellness and preventive features/benefits of health insurance products, the insurance regulator-The Insurance Regulatory and Development Authority of India (Irdai) on Thursday released an ‘exposure draft on guidelines on wellness and preventive features.’

Health insurers may offer you fitness goodies

Insurers will not be allowed to promote products or services of any particular third party service provider.

09 Nov 2019 3:42 AM

The Reserve Bank of India (RBI) has mandated banks not to charge savings account holders for NEFT with effect from January 2020.

No NEFT charges from January

The RBI this year had done away with charges on NEFT and RTGS transactions and asked banks to pass on the benefit to their customers.

09 Nov 2019 3:39 AM

Solvency ratio is a key metric used to determine the ability of an insurer to meet its debt, pay claims and honour other financial commitments.

Reliance Health barred from selling policies

Solvency ratio dips to 63% against norm of 150%.

08 Nov 2019 6:26 AM

This is the fourth time that the regulator has increased the withdrawal limits since it clamped down on the bank on September 23 and capped withdrawal limit at Rs 1,000 per customer for six months. (Photo: PTI)

PMC Bank: Withdrawal limit raised to Rs 50,000

The RBI has also allowed PMC Bank account holders to withdraw money from the bank's own ATMs within the prescribed limit of Rs 50,000.

06 Nov 2019 1:25 AM

Public sector behemoth Life Insurance Corporation of India (LIC) is about to close over two dozen individual insurance products, eight group insurance plans and seven to eight riders on November 30. (File Photo)

LIC plans to scrap many key schemes from December 1

LIC’s insurance agents are pushing the existing products hard, asking customers to buy them before they close on November 30.

04 Nov 2019 1:49 AM

These plans will be revised and relaunched in line with the insurance regulator’s revised customer-centric product guidelines in the course of the next few months. (File Photo)

LIC to withdraw many products from November 30

Among the retail products that would be closed are some of LIC’s best sellers such as Jeevan Anand, Jeevan Umang, Jeevan Lakshya and Jeevan Labh.

04 Nov 2019 1:03 AM

RBI rejigs internal setup to monitor banks better

The development follows the RBI’s central board decision to create separate supervisory and regulatory cadre.

02 Nov 2019 1:29 AM

Shares of Yes Bank jumped 35 per cent before closing with gains of 24 per cent after the lender informed the exchanges that it has received a $1.2 billion binding offer (around Rs 8500 crore) from a global investor. The bank is yet to consider the offer, it said.

Yes Bank gets Rs 8500 crore global investor offer

While the bank did not name the investor, according to reports, it was Hong Kong-based SPGP Holdings.

01 Nov 2019 1:56 AM

According to a latest TransUnion Cibil Industry Insights Report, consumer loans grew 17.1 per cent year-on-year (YoY) in Q2 2019, compared to 23.5 per cent in Q2 2018.

Lenders court risky borrowers to push up retail loan growth

Growth in credit cards and personal loans significantly outpaced growth witnessed in auto loans, home loans and loans against property.

31 Oct 2019 12:53 AM

SBI surprises with robust Q2 earnings

Asset quality improved sequentially as well as year-on-year.

26 Oct 2019 1:25 AM

Profit before tax grew 109 per cent YoY to Rs 2,433 crore as compared to Rs 1,167 crore in the same quarter of last year.

Axis Bank posts Rs 112-crore net loss

The bank’s operating profit grew 45 per cent YoY to Rs 5,952 crore from Rs 4,094 crore in Q2FY19.

23 Oct 2019 2:45 AM

Securitisation of gold loan receivables, personal loan receivables, two-wheeler loan receivables and lease rental receivables are now mainstream.

Securitisation market to cross Rs 2L cr in FY20

A bigger boost, however, is expected from regulatory interventions, say analysts.

22 Oct 2019 1:31 AM

Excluding crop segment, the GDPI increased to `6,386 crore in H1 FY2020 compared to Rs 5,495 crore.

Flood & motor claims impact Q2 profit of ICICI Lombard

Crop insurance had constituted 17 per cent of the total business last year.

19 Oct 2019 2:12 AM

FALAKNAAZ SYED