RBI restricts withdrawals from Jalna-based Mantha Urban Coop Bank for 6 months
Reserve Bank of India on Tuesday imposed restrictions on withdrawals from Maharashtra-based Mantha Urban Cooperative Bank for six months. The RBI, in a release, said it has issued certain directions to Mantha Urban Cooperative Bank, Mantha District Jalna, Maharashtra, from…
Capital needed for banking licence may be doubled if RBI accepts recommendations
To ensure that entities seeking private banks licence remained adequately capitalised to meet any eventuality, a Reserve Bank of India internal committee has recommended nearly doubling of the initial capital and net worth requirements to be eligible for getting a…
World No. 1! RBI Twitter handle is the most popular of them all – globally
The Reserve Bank of India’s (RBI) Twitter handle achieved 1 million followers on Sunday, turning it the first central bank in the world to achieve the feat. Taking to Twitter, RBI Governor, Shaktikanta Das wrote: “RBI Twitter account reaches one…
Major bank union oppose banking licences to industrial houses
The Indian banking sector`s largest union, the All India Bank Employees` Association (AIBEA), on Tuesday opposed the recommendations made by the Reserve Bank of India`s (RBI) Internal Working Group as they are “retrograde” and would endanger people`s money. …
Protection of Lakshmi Vilas Bank could be done without compromising national interests: Swadeshi Jagran Manch
Swadeshi Jagran Manch has written to Shaktikanta Das Governor Reserve Bank of India, saying protection of the beleaguered Lakshmi Vilas Bank could be done without compromising national interests. The letter from Swadeshi Jagran Manch read, “This refers to the news…
Lakshmi Vilas Bank moratorium ends on Nov 26; good news for account holders, cap on cash withdrawals ends Nov 27
Lakshmi Vilas Bank (LVB) moratorium period will come to an end on Thursday and normal banking operations would commence thereafter, RBI-appointed administrator T.N. Manoharan said. That means cap on cash withdrawals for bank account holders goes too. …
Lakshmi Vilas Bank shareholders compensation: Mumbai HC admits writ petition
Lakshmi Vilas Bank shareholders compensation: Shareholders of the 94-year-old Lakshmi Vilas Bank (LVB) have started knocking the doors of justice for a fair valuation of their bank, the amalgamation of which takes effect from Friday onwards. On Thursday, Indiabulls Housing Finance…
Lakshmi Vilas Bank writes off bonds worth Rs 318 cr ahead of merger with DBS Bank
A day ahead of its merger with the Indian arm of Singapore-based DBS Bank, the debt-ridden Lakshmi Vilas Bank (LVB) on Thursday has written off bonds worth Rs 318.20 crore as per the existing provisions. As per the effective date…
ICICI Bank vs HDFC Bank: Getting Into compounding band says Jefferies
ICICI Bank’s initiatives to de-risk loans have held it in good-stead with impact on asset quality likely to be manageable. An under-appreciated aspect is that its operating profit grew at 19-20% in FY19-20 & 18% YoY in first half of…
6 in 10 Indians do mobile banking to just check account balance: Report
More than six in 10 Indians (67 per cent) said that the majority of their mobile banking logins are simply to check account balances, a new report said on Monday. According to the global IT services firm Accenture, only 42…