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Banking

The cards will initially be available to LIC policyholders, agents, as well as employees of the corporation and its subsidiaries (Source: Twitter)

LIC Cards Services, IDBI Bank launch RuPay credit cards Lumine, Eclat: check out full details

Jul 29, 2021

Lumine and Eclat Cardholders will earn 'Welcome Bonus Delight Points' of 1,000 and 1,500, respectively, on spending Rs 10,000 in 60 days from the date of the card issued

Kotak Mahindra Bank managing director and chief executive Uday Kotak

Covid-19 has brought everlasting changes in ways consumers, businesses function: Uday Kotak

Jul 29, 2021

There are some significant structural changes that are taking place in the way we live and work, the way we bank, shop and interact with others, Uday Kotak writes to the shareholders

Mudra loans, which are given as business loans to small businesses, have seen a gradual rise in the gross NPAs over the last few years

SBI's Mudra loan NPAs jump to 23% despite Covid restructuring package, collateral-free guarantee

Jul 29, 2021

Outstanding Mudra loans in SBI's books were Rs 26,302 crore against gross NPAs of over Rs 6,000 crore in 2020-21

The Reserve Bank said it has cancelled the licence of the bank as it does not have adequate capital and earning prospects

RBI cancels licence of Goa-based The Madgaum Urban Cooperative Bank; bars it from conducting ‘banking’ operations

Jul 29, 2021

RBI says about 99 per cent of depositors will receive full amounts of their deposits from Deposit Insurance and Credit Guarantee Corporation

Reserve Bank of India

Digital payments grew 30.2% in FY21, says RBI

Jul 29, 2021

"The RBI-DPI index has demonstrated significant growth in the index representing the rapid adoption and deepening of digital payments across the country in recent years," the RBI said

According to draft documents filed by Paytm for its Rs 16,600 crore IPO, PPBL has 15.5 crore UPI handles on its platform

Paytm Payments Bank surpasses 1 crore FASTags mark

Jul 29, 2021

PPBL claims to have won 82 per cent of cases of payment disputes regarding toll payments on behalf of its customers

Cooperative banks are the ones facing the RBI's moratorium quite often. Photo: Reuters

Cooperative banks' depositors to be biggest beneficiaries of DICGC Bill, 2021

Jul 28, 2021

Cabinet's approval to DICGC Bill, 2021, provides depositors of banks under moratorium access to their money in savings, current and fixed deposit accounts in 90 days

 Several banks like the Punjab and Maharashtra Co-operative (PMC) Bank, Yes Bank and Lakshmi Vilas Bank collapsed in the last couple of years and moratorium had to be imposed on them

Cabinet approves bill to settle depositors' claim in 90 days in case of bank collapse

Jul 28, 2021

With the amendment to the Deposit Insurance and Credit Corporation Amendment Bill, 2021, the depositors will be able to withdraw the insured amount of up to Rs 5 lakh in a period of 90 days

Immediate beneficiaries of the DICGC Act amendments will be thousands of depositors of banks like PMC Bank, Yes Bank and Lakshmi Vilas Bank

Good news for PMC, LVB, Yes Bank customers; Cabinet clears amendments to DICGC Act

Jul 28, 2021

DICGC Act will provide a solution to the biggest issue of customers having zero access to their funds for a long period till RBI lifts curbs on them

SBI has rolled out SIM binding feature on its YONO Lite app

SBI introduces 'SIM binding' feature for more secure transactions; all you need to know

Jul 28, 2021

SBI has rolled out SIM binding feature on its YONO Lite app to ensure secure online transactions. To use this feature, users will have to update to Yono Lite app version 5.3.48

 RBI has advised banks to play a more proactive role in finding the whereabouts of the account holders of unclaimed deposits/inoperative accounts (Source: PTI)

Nearly Rs 49,000 cr lying unclaimed with banks, insurers: Minister Bhagwat Karad

Jul 28, 2021

As per information received from the Reserve Bank of India (RBI), the total amount of unclaimed deposits of banks stood at Rs 24,356 crore, as on December 31, 2020.