Monday , February 27 2017

Banking & Finance

Banking with Aadhaar Cards, a Significant Game-Changer in Financial transaction System

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Banking on Aadhaar using India Post Payments bank’s Aadhaar-pay model, without even a bank account, is an incredible decision It is a great initiative by the Government to promote digital transactions through the usage of Aadhaar numbers for transactions which enables to pay or receive money, even without a bank ...

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RBI Deputy Governor Asserts that using RBI Reserves to Recapitalize Banks is not a Good Decision

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RBI Deputy Governor Viral V Acharya said that it is not the right decision to use RBI Reserves for recapitalizing Banks. RBI Deputy Governor Acharya suggested a new solution to the pressures of capital constraints and rising NPAs. He said that a restructuring of the banking sector is highly recommended. (Reuters) RBI Deputy ...

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Digitalization of Banks, a Necessary Step to Prevent Becoming History

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Digitalization of Banks is Incumbent, else they might turn into History, as warned by RBI Deputy Governor, SS Mundra The digitalization of Financial Technology Firms is a continuous process and is here to stay. It will be challenging task for the present Banking system to keep upgraded.  Banks that do not  ...

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Indian Rupee drops 4 paise compared to US Dollar

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Indian Rupee depreciation is due to the US currency demand from Importers The rupee trades flat by 4 paise at 67.05 against the dollar in early trade today at forex market. This is due to the fag-end dollar selling by banks and exporters and the American unit strengthening green back ...

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Finance Minister Confirms, “No Shortage of Banknotes in the Market”

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Finance Minister Arun Jaitly appreciated the work done by the printing presses of RBI and SPMCIL in Circulating Banknotes to the Market.   Union Finance Minister Arun Jaitley announced that there is absolute normalcy in the market and there is no shortage of notes in market. This is observed within ...

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Overseas investors to pay top dollar for HDFC bank

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After the removal of constraints by RBI the stock raised  to 9.5%, overseas investors willing to pay dollars for HDFC The Reserve Bank of India  has removed constraints which it has imposed on HDFC with an immediate effect and now the  Overseas  investors can now buy more shares in HDFC ...

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Bids for bad loans of worth Rs180 crore says, Indian Overseas Bank

Indian Overseas Bank bids

Indian Overseas Bank put nine accounts for the sale of Bad loans   IOB(Indian Overseas Bank) said it has requested bids for the sale of bad loans of worth Rs180.68 crore on 8 February, during the current quarter. It also conveyed that securitization companies, asset reconstruction companies (ARCs) , Banks, ...

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