In the meeting, RBI Deputy Governor Michael Debabrata Patra said the damage is \"so deep and extensive\" that India''s potential output has been pushed down, and it will take years to repair

In terms of financial support to the customers, SBI said that Rs 17,116 crore coronavirus related loans have so far been sanctioned

Reserve Bank of India will make an initial contribution of Rs 250 crore to the fund, covering half the fund, and the remaining contribution will be done by card-issuing banks and other card networks operating in the country

RBI survey predicted that gross domestic product (GDP) during the current financial year is likely to contract by 1.5 per cent, but is expected to grow by 7.2 per cent in FY22

A bench of Justices Ashok Bhushan, Sanjay Kishan Kaul and M R Shah said that these are challenging times and it is a serious issue as on one hand moratorium is granted and on other hand interest is charged on loans

Small finance banks and those dealing with micro lending like Bandhan Bank have seen more than 90 per cent of their micro loan book come under moratorium

The RBI filed the affidavit, responding to a court notice on a public interest litigation (PIL) seeking direction from the SC to waive the interest on loans during the moratorium period in the wake of COVID-19 crisis

Here's a list of banks that have cut savings account rates - State Bank of India, ICICI Bank, Axis Bank, Kotak Mahindra Bank. Check the latest saving account interest rates offered by banks.

Bajaj said, \"I am not seeing a smooth, concerted, rhythmic move towards unlocking of the supply chain\"

Following the lending rate cut, stock price of ICICI Bank opened with a gain of 2.24% today and later touched an intraday high of Rs 366.05, gaining 5.04% on BSE against the closing value of Rs 348.50

Moody's has downgraded the long-term local and foreign currency deposit ratings of State Bank of India and HDFC Bank to Baa3 from Baa2, and the long-term issuer rating of EXIM India to Baa3 from Baa2

Coronavirus crisis: As many as 90 per cent respondents are concerned about their savings and financial future, and nearly 72 per cent said they would opt for a personal loan in the immediate future to meet high-priority expenses

The price band for Kotak Mahindra Bank's share sale has been fixed at Rs 1,215 to Rs 1,240 a piece. The sale would fetch Rs 6,804 crore at the lower end of the price band and Rs 6,944 crore at the upper-end

With over 190,000 confirmed cases as on May 31, India has the world's 7th highest number of recorded coronavirus infections. However, more than 48 per cent infected people have recovered fully with death rate of less than 3 per cent among confirmed COVID-19 cases

RBI data shows excess liquidity is lying idle, parked in its own reverse repo account, and burdening it with higher interest payouts. This could be tapped and channelised for additional fiscal spending to stimulate growth through government bonds

The one-year MCLR, to which a majority of loans such as residential mortgages and auto loans are tied now stands at 7.70 per cent

The six-month moratorium on loans where the 25-30 per cent of the loan book is locked, has created new cash flow challenges

According to a report, the promoters are mulling to offload their shares after the close of the QIP. The Kotak family would sell up to 5.7 crore shares, which will fetch around Rs 6,600 crore at current prices

The sources said, the government will have to cut down its expected realisation from stake dilution of both LIC and IDBI Bank even if the market condition improves

The announcement comes after the Reserve Bank of India extended moratorium on equated monthly instalments (EMIs) of loans by three months till August 31, 2020