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BusinessToday.In
July 3, 2018
The apex bank had in April directed all the banks to stop dealing with individuals and businesses dabbling in virtual currencies in next three months - the deadline ends on July 5.


BusinessToday.In
July 3, 2018
The panel, which was set up to study the feasibility of an ARC/AMC for faster resolution of bad loans, has suggested a five-pronged strategy that includes -- SME resolution approach, bank-led resolution approach, AMC/AIF led resolution approach, NCLT/IBC approach, and asset-trading platform.


PTI
New Delhi, July 2, 2018
The committee favours banks and overseas investors funding for the bad bank. The proposed 'bad bank' should also appoint experts from outside to tackle the stressed assets issue, suggests the panel.


PTI
July 1, 2018
Punjab National Bank MD Sunil Mehta has said there are \"positive developments\" in favour of the lender pertaining to bankruptcy case filed in the US by Nirav Modi's firm Firestar Diamond Inc.


Rahul Shrivastava
June 30, 2018
In 2016, funds stashed by Indians in Swiss banks had fallen by 45 per cent to Rs 4,500 crore. The drop was the highest since the Swiss banks shed their secrecy clauses that shielded depositors in 1987. The latest data shows that the money parked directly with the banks is now pegged at Rs 6,891 crore and another Rs 112 crore through fiduciaries.


PTI
New Delhi, June 29, 2018
Puri termed the ongoing troubles in the system as a period of transition, and that there is nothing to worry at the systemic level as most of the lenders are either well-capitalised or have the assurance of government support.


BusinessToday.In
New Delhi, June 29, 2018
The proposal, still at a nascent stage, envisages borrowers filling in relevant details online, based on which they will subsequently receive competitive offers from interested lenders.


Reuters
June 28, 2018
India's oil ministry has asked refiners to prepare for a 'drastic reduction or zero' imports of Iranian oil from November, two industry sources said, the first sign that New Delhi is responding to a push by the United States to cut trade ties with Iran.


BusinessToday.In
June 28, 2018
Evergreening is a practice whereby banks extend even more loans to debt-laden companies to help them repay previous loans and hopefully earn enough revenue along the way to get out of trouble.


BusinessToday.In
New Delhi, June 28, 2018
The government is also, at best, lukewarm to the idea of an asset reconstruction company (ARC) to take over the public sector banks' toxic loans as it's not keen on diverting more of taxpayers' money toward their resolution in this manner.


BusinessToday.In
June 27, 2018
In the RBI's Financial Stability Report, the apex bank said that the Gross NPA (GNPA) ratio of scheduled commercial banks (SCBs) is likely to rise in the current fiscal.


BusinessToday.In
June 26, 2018
The PNB's internal probe has revealed that its former official Gokulnath Shetty cleared over 13,000 transactions of Rs 1 crore which was well beyond his authorised limit of Rs 25 lakh. Shetty's name had first cropped up when the PNB in February announced that it had detected fraudulent transactions at its Brady House Branch in Mumbai.


Joe C. Mathew
New Delhi, June 25, 2018
Despite government initiatives, India's exports have remained below the 2013/14 levels. Exporters' GST problems and rising trade barriers suggest fast growth is unlikely to materialise.


Sonal Khetarpal
New Delhi, June 25, 2018
The clear and present danger of personal data being leaked or stolen has been recognised. But India's proposed law to prevent it needs to work out several issues before it can be finalised.


Reuters
June 25, 2018
The reserve reduction, the third by the central bank this year, had been widely anticipated by investors amid concerns over market liquidity and a potential economic drag from a trade dispute with the United States.


PTI
June 24, 2018
Top officials of IDBI Bank, UCO Bank, Central Bank of India, Bank of India, Indian Overseas Bank, Dena Bank, Oriental Bank of Commerce, Bank of Maharashtra, United Bank of India, Corporation Bank and Allahabad Bank, will make presentations before the panel and respond to queries on June 26.


Associated Press
June 20, 2018
Virtual assistants and smart speakers are still relatively new technologies, and potentially susceptible to being exploited by cyber criminals.


BusinessToday.In
New Delhi, June 20, 2018
The probe report, along with dozens of pages of annexed bank records and internal e-mails, was presented by PNB officials to the bank's fraud risk management arm on April 5.


BusinessToday.In
June 18, 2018
The much-awaited report by the Justice BN Srikrishna-led committee for a data protection framework for India is expected by the end of the month.


BusinessToday.In
New Delhi, June 15, 2018
Of the total NPA write-offs in 2017-18, India's biggest public sector bank SBI alone wrote-off around 25 per cent of the total bad loans at Rs 40,196 crore.


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