Banking News

Covid Yorker: Mahindra promises a car faster than Pizza

Covid Yorker: Mahindra promises a car faster than Pizza

New Delhi: Remember the old Pizza advertising tag-line - Under 30 minutes or Pizza free? Indian auto major Mahindra and Mahindra seems to have taken a cue from that adage.  As part of its digital campaign, M&M says, "Easy & convenient 4-step journey allows customer to own a Mahindra veh...

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Brand-reinforcement: HDFC Bank creatively uses logo for social distancing

Brand-reinforcement: HDFC Bank creatively uses logo for social distancing

Mumbai: HDFC Bank as part of a fresh marketing strategy has used its logo to creatively to instill the thought of social distancing. The bank has used its logo in the form of grids to encourage and reinforce social distancing.  "Using the outer grid of HDFC Bank logo that is synonymous with tru...

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Is RBI simplifying the KYC procedure?

Is RBI simplifying the KYC procedure?

Every entity (“Regulated Entity” or “RE”) regulated by the Reserve Bank of India (“RBI”) is required to conduct customer due diligence (“CDD”) on individuals (i) while establishing an account-based relationship; or (ii) while dealing with a beneficial owner, an authorized signatory, or a power of at...

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Worrying situation for Indian banking industry, NPAs to rise

Worrying situation for Indian banking industry, NPAs to rise

Mumbai: Indian Banking sector may look at a surge in NPAs and credit costs despite such services deemed as 'essential services' and the regulator taking active measures.A report published on Monday by S&P Global ratings says that Asia Pacific Banks were looking at an estimated $300 billion damag...

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Private banks, NBFCs to continue EMIs, if not informed

Private banks, NBFCs to continue EMIs, if not informed

New Delhi: Unlike the public sector banks, customers of private banks and non-banking financial companies (NBFCs) would continue to pay EMIs on their term- loans unless an specific instruction is issued, as per the Covid-19 RBI package.Several private banks and NBFCs informed their customers on Wedn...

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Specified G-secs to be opened for NRIs from April 1: RBI

Specified G-secs to be opened for NRIs from April 1: RBI

New Delhi: The Reserve Bank on Monday notified that some categories of government securities will be opened fully for non-resident investors, and will continue to be open for the domestic investors.At present, G-secs are not fully opened for subscription by non-resident investors.The RBI, in a notif...

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Gov Das tells banks to give Shakti to loan-borrowers: rates slashed, EMI-relief and 10 key things inside

Gov Das tells banks to give Shakti to loan-borrowers: rates slashed, EMI-relief and 10 key things inside

Mumbai: Governor Shaktikanta Das on Friday answered the anxious prayers of millions of banking customers in the country. In a major policy announcement crucial lending rates have been slashed by 0.75 percent to 4.4 percent. The monetary policy committee took a 4-2 decision to announce the cut in the...

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FM extends crucial taxation dates, economic package still work in progress

FM extends crucial taxation dates, economic package still work in progress

New Delhi: Hours before Prime Minister Narendra Modi's second announcement in a Covid-19 marred month, the Finance Ministry has announced extension in several crucial taxation dates. The dates for filing of GST, TDS deposits, Income Tax filings, Aadhar-PAN card linkage, Customs and Excise related de...

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RBI announces Rs 10K cr OMO purchase of govt securities

RBI announces Rs 10K cr OMO purchase of govt securities

Mumbai: The Reserve Bank of India (RBI) on Wednesday announced it would purchase government securities worth Rs 10,000 crore through open market operations in a bid to increase liquidity and enhance confidence in the market amid the coronavirus crisis.In a statement, the RBI said that with the heigh...

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ICICI and Axis to infuse Rs 1,600 crores in Yes Bank

ICICI and Axis to infuse Rs 1,600 crores in Yes Bank

Mumbai: Moratorium constrained Yes Bank has good news. Boards of two private lenders, Axis Bank and ICICI Bank, have agreed to collectively invest Rs 1,600 crores as equity cash transactions.  Private lender ICICI Bank's board has confirmed that it is jumping in the rescue-act of Yes Bank. Post...

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