India’s banking regulator seems to have tuned in once again to “the changing times” of American singer Bob Dylan. In the span of a week, the Reserve Bank of India (RBI) has not only allowed a foreign bank to buy a private sector bank and thus gain more presence in …
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The stock market came under heavy selling pressure in the last hour of Monday’s session, with benchmark indices falling more than 2 percent. The volatility index, India VIX, rose 13 percent to levels of 22.6, indicating greater volatility in the market. The S&P BSE Sensex fell 812 points to nearly …
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Between 2010 and 2017, several Indian banks, regardless of ownership (public, private and foreign) helped facilitate transactions reported by the Financial Crimes Enforcement Network (FinCEN) of the Treasury Department for alleged money laundering, terrorism, trafficking drug and financial operations. fraud, the latest leaks suggest. The International Consortium for Investigative Journalism …
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Banks can restructure loans of more than 10 trillion rupees largely attributed to 5-6 critical sectors, including aviation, commercial real estate and hospitality, which have been badly affected by the Covid-19 outbreak, according to the bankers. Finance Minister Nirmala Sitharaman last week asked banks and NBFC to implement a one-time …
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Finance Minister Nirmala Sitharaman on Thursday told banks to set up loan restructuring schemes by September 15 to rescue all viable business units affected by the Covid-19 pandemic. She was holding a review meeting with the heads of scheduled commercial banks and non-bank finance companies (NBFCs) via video conference. Top …
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