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04 July, 2015Latest News

Site last updated on :04-07-2015

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LIC to rescue of PSBs yet again: Troubled public sector banks have found Life Insurance Corporation of India (LIC) as their knight in shining armour yet again, case in point being Canara Bank. LIC has doubled its stake in the PSU lender to 14.49% as of June, from 7.29% in March.

Bank loan fraud: ED attaches Indore realtor’s 1,280 acres in California: In an unprecedented move, the Enforcement Directorate’s Ahmedabad branch has attached 1,280 acres of a realtor’s land in California, in what may turn out to be one of the biggest bank loan frauds in India and money laundering activity, reports said here on Thursday.

Banks urged to bolster financial inclusion scheme: A meeting to review the progress of the Central schemes stressed on the need to increase the number of active accounts under Pradhan Mantri Jan Dhan Yojana (PMJDY). Chairing the meeting on Thursday, Nalin Kumar Kateel, Member of Parliament of Dakshina Kannada, said that more number of accounts opened under PMJDY should be active.

RBI asks banks to use information from CRILC to open current accoun: With a view to improve credit discipline and reduce NPA level, the Reserve Bank today asked lenders to make use of credit information available with Central Repository of Information on Large Credits (CRILC) for opening of current accounts. 

RBI asks banks to furnish progress report on Kisan Vikas Patra, Sukanya Samriddhi account: To expedite Kisan Vikas Patraand Sukanya Samriddhi Account, RBI  today again asked banks to furnish region-wise weekly progress report on the schemes. Earlier in February, the central bank had asked banks to expedite the implementation of the two schemes. 

To boost digital banking, SBI rolls out Rewards scheme: The country’s largest bank, State Bank of India, will now reward you for timely repayment of loans. An SBI customer can not only earn reward points for paying the loan instalment on time but also for opening an account or transferring funds through internet or mobile banking.

Public sector banks will get more capital: Jayant Sinha: The Finance Ministry reiterated on Wednesday that more capital support will be given to public sector banks, which need an additional Rs. 2.40 lakh crore in the next three years to meet Basel III capital adequacy norms.

PSU Banks Lag Private Peers in CASA Growth: The gap in the current account and savings account (CASA) growth rate between state-owned and private sector banks (PSBs) has widened in 2014-15. Although CASA deposits of private banks have been growing faster than the public banks, the difference in the last fiscal was most striking.




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