The amount realised through the 5th Tranche of Sovereign Gold Bond (SGB) Scheme, is expected to cross Rs. 820 crore, the ministry of finance said. This was mobilised through over 2.00 lakh applications representing around 2.37 tonnes of gold. “These numbers are likely to go-up further as the receiving offices are still in the process […]
Yes bank, India’s 5th largest private sector bank, said its recently launched ´Yes tag´ ‘chat banking’ application has crossed 10,000 Transactions. Yes tag was launched recently by Yes bank and offers a ‘conversational smart banking’ experience and can be used to bank via five messaging platforms namely Facebook Messenger, Twitter, Skype, Telegram and WeChat. Users […]
Asserting there are no quick fixes for grave problems facing the public sector banks, mainly centered around close to Rs 5 lakh crore non-performing assets, ASSOCHAM President Mr Sunil Kanoria today said a paper brought out by the chamber clearly suggests mergers or consolidation of the PSBs is certainly no answer to the present crisis, […]
Standard Chartered, the UK-based bank, has urged its banking customers in India to change their ATM PIN numbers in light of increasing cases of ATM fraud. “For the security of your account, we would recommend that you visit our ATMs or call our helpline number and change your Debit Card PIN,” the bank said in […]
Central Bank of India said the ratings on its bonds have been downgraded by Brickwork Ratings due to a deterioration in its financial condition. The bank is among many government-owned lenders that have come under substantial stress in recent quarters due to loan defaults by big borrowers. Many private companies in India are defaulting on […]
Zee Media Corporation Limited swung to a profit for the Apr-Jun quarter after it was able to control its expenses, especially in its print arm of DNA. The company cut expenses across the board including operating expenses, employee expenses and marketing costs. Total revenue fell 5% to 128.2 crore compared to same quarter last year, […]
ICICI bank, an Indian multinational banking and financial services company, said its shareholders will get a reservation of 18.13 lakh shares in the upcoming initial public offering of its subsidiary ICICI Prudential Life Insurance. Only individual shareholders will be eligible for this reservation. On September 8, the private sector bank had said that it is […]
The National Payments Corporation of India, the country’s answer to VISA and MasterCard, today denied that its systems had been hacked. There were reports in the media that Chinese hackers had made off with data from NPCI servers. However, NPCI pointed out that it stores data only regarding its own products such as IMPS, UPI […]
YES Bank, the newest entrant to India’s banking sector, has turned out to be the most aggressive when it comes to taking advantage of India’s new payment infrastructure called UPI or Unified Payment Interface. While most banks are looking at UPI primarily as a replacement for cash transfer solutions like NEFT and IMPS, YES Bank […]
Tata Homes and SBI signed an agreement under which the two companies will make special offers to people who hold their salary accounts in the bank and want to purchase a Tata Homes property with an SBI loan. The nature of these offers was not revealed, but it is estimated that they could involve some […]
Kerala-based privately owned Federal Bank said it has started a one-minute loan facility called Digital Personal Loans. “Customers can log into Bank’s website (www.federalbank.co.in) and avail personal loans in a minute. Upon the acceptance of the offer by the customer, the loan money is credited to his account immediately,” it said. “This facility neither requires […]
While Rs 45 lakh crore would be the total credit demand for the micro, small and medium enterprises sector over the medium term, about Rs 5.15 lakh crore needs to be mobilised to address the near-term requirement, noted an ASSOCHAM-Crisil joint study. “Finance related issues pose the biggest challenge among the host of other factors […]
The Indian Cabinet today approved extending ‘permanent residency’ to foreign investors. So far, one had to be a citizen to be a permanent resident in the country. Others faced hassles such as regular attendance at foreigners registration offices and visa extensions if they were to continue to remain in the country. The present tenure of […]
National Payments Corporation of India (NPCI), the umbrella organization for all retail payments system in India, launched a pilot bill-payment project. The project, called Bharat Bill Payment System, is an integrated platform connecting banks and non-bank entities in bill aggregation business like billers, payment service providers, retail bill outlets etc.. The system consists of four participants — the consumer, […]
In a survey conducted by Chartered Institute of Management Accountants (CIMA), 29% finance professionals fear job loss due to increase in automation, while 64% finance professionals encourage increasing automation in India. On the impact of artificial intelligence on strategic decision-making only 13% of experts in India conceded that reliance on automation or technology has led […]
ICICI Bank, one of India’s largest private sector banks has started registering new, user-friendly usernames on its mobile app as part of the UPI advanced payment platform of the government of India. The usernames are in the format name@icici and can be registered by ICICI mobile app users and those who use its Pockets payment app. The process […]
Bank of Maharashtra announced the launch of its UPI mobile application in association with National Payments Corporation of India (NPCI). The mobile app will enable customers to pay and collect money from their smartphones without entering any bank account number. The ‘MahaUPI application’ shall enable our customers and customers of other banks to have a […]
Karnataka Bank became one of the first to launch its mobile application which is designed to accomodate the newly launched Unified Payments Interface (UPI) today. The mobile app which is named “KBL-SMARTz” is built on the UPI platform of the National Payments Corporation of India (NPCI) which will enable customers to pay and collect money […]
IndusInd Bank signed a three-year deal to make use of IBM’s cloud-based analytics solution to enhance its customer interactions and boost its product sales, said the company. IBM will provide data analytics support to the bank to strengthen its online banking presence and increase its product sales to the customers,added the company. Data analytics have […]
Manuappuram Finance today announced that it has raised Rs 75 crore by allotting 750 secured redeemable non-convertible debentures. Each debenture has a face value of Rs 10 lakhs. Last week the company had hinted in raising Rs 75 crore through secured redeemable Non-Convertible Debentures. Manappuram Finance is a non-banking financial company based in Kerala.
