HDFC Life inks distribution tie-up with Catholic Syrian Bank

HDFC Life has entered into a bancassurance tie-up with Catholic Syrian Bank to distribute its individual life insurance products to the private lender’s customers. With this partnership, HDFC Life will offer its leading range of individual life insurance, health and pension products to the Catholic Syrian Bank’s 1.5 million customer base across all its branches […]

RBI puts restriction on Uco Bank’s business

Reserve Bank of India has put restriction on Kolkata based PSU UCO Bank’s lending and branch expansion plans as the state-run lender made net losses for the two successive fiscal amid severe stress on asset quality. RBI has initiated ‘Prompt Corrective Action’ (PCA) framework on  UCO bank on account of high bad loans and negative […]

SBI revises service charges; to charge ATM withdrawals at Rs. 25

State Bank of India (SBI) has announced another revision in service charges with effect from June 1, 2017. All cash withdrawals through ATM will now be charged at Rs. 25 per transaction. Only RuPay classic card will be issued for free. State Bank of India has clarified that the proposed hike in ATM withdrawal charges […]

Dena Bank classifies Videocon loan as ‘bad’

Dena Bank has become the first lender to classify Videocon Industries as a bad loan. With the default on payments, Dena Bank has declared Videocon Industries account as non-performing asset (NPA) in the fourth quarter ended March 2017. The total exposure of lenders to the electronic goods maker is pegged at approx Rs 40,000 crore. […]

The promulgation of the Banking Regulation (Amendment) Ordinance, 2017

The promulgation of the Banking Regulation (Amendment) Ordinance, 2017 inserting two new Sections (viz. 35AA and 35AB) after Section 35A of the Banking Regulation Act, 1949 enables the Union Government to authorize the Reserve Bank of India (RBI) to direct banking companies to resolve specific stressed assets by initiating insolvency resolution process, where required. The […]

Know About: The NABARD (Amendment) Bill, 2017

The National Bank for Agriculture and Rural Development (Amendment) Bill, 2017 Minister of Finance, Mr. Arun Jaitley in Lok Sabha on April 5, 2017. The Bill seeks to amend the National Bank for Agriculture and Rural Development Act, 1981. The 1981 Act provides for the establishment of the National Bank for Agriculture and Rural Development […]

Yes Bank ties up with Paisabazaar.com

Private sector lender Yes Bank announced the alliance with Paisabazaar.com under which the bank will offer conditionally approved loans to the latter’s existing customers. As part of the partnership, the bank will help Paisabazaar.com through its advanced analytics and data mining capabilities to offer customers of the financial marketplace with customized and conditionally approved offers across […]

SBI, CREDAI ink MoU for concessional loan for housing projects

State Bank of India and real estate developers’ body CREDAI (Confederation of Real Estate Developers’ Associations of India) have signed a memorandum of understanding (MoU) to jointly conduct various initiatives towards development of the realty sector. The MoU will be in force for a period of 3 years. Each of them will leverage their individual strengths and […]