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RBI extends loan restructuring facility to corporates
Thu, Aug 06, 2020
In February, the RBI decided to extend the benefit of one-time restructuring without an asset classification downgrade to standard accounts of GST-registered micro, small and medium enterprises (MSMEs) that were in default as on January 1, 2020, in line with the Budget announcement.
Loan borrowers alert! RBI allows lenders to do this - What corporates, individuals should know
Thu, Aug 06, 2020
RBI has allowed lenders to provide window to restructure loans of corporate, individual borrowers to ease COVID-19 impact.
RBI Monetary Policy Meet: Bank may go for status quo; announce other measures to boost growth
Thu, Aug 06, 2020
Besides, the central bank is expected to issue directions regarding the loan moratorium which is coming to an end on August 31 amid bankers opposing further extension of this facility on concerns over its misuse.
Important meeting! PM Narendra Modi interacts with stakeholders from banks and NBFCs - Check what all they discussed
Thu, Jul 30, 2020
The crucial role of the financial and banking system of supporting growth was discussed.
TDS on cash withdrawal alert! New functionality from Income Tax Department for banks and post offices
Mon, Jul 13, 2020
In a major development, the Central Board of Direct Taxes, Government of India has provided a utility to ascertain TDS Applicability Rates on Cash Withdrawals.
Low interest rate regime critical for survival of banks: K V Kamath
Wed, Jul 08, 2020
"I think the banking sector was having a problem, but I think the banking sector with all the efforts of the government, the capital that was injected and so on was coming out of the problems. It needs a little more hand-holding when it was coming out of the challenges," he said in an interview to CNBC-TV18.
Big changes in banking services from July 1 - ATM cash withdrawal rules to savings interest rates - All you need to know
Mon, Jun 29, 2020
From this 1st July, many banking services, rules and even charges are going to change
Maha SLBC seeks permission for staff to use local train service; likely to meet chief secy on Wed
Wed, Jun 17, 2020
Maharashtra's State Level Bankers' Committee (SLBC) is likely to meet the state's chief secretary on Wednesday for allowing bank employees here to use local train services, a source said
Ensure effective rollout of Rs 3-lakh crore ECLGS for MSMEs: FM to pvt banks
Mon, Jun 15, 2020
Under the scheme, 100 per cent guarantee coverage are being provided by National Credit Guarantee Trustee Company (NCGTC) for additional funding of up to Rs 3 lakh crore to eligible MSMEs and interested Micro Units Development and Refinance Agency (MUDRA) borrowers in the form of a guaranteed emergency credit line (GECL) facility.
Privatisation of Public Sector Banks is very unlikely in current fiscal - Here is why
Sun, Jun 14, 2020
It does not make any business sense to sell these lenders -- Indian Overseas Bank (IOB), Central Bank of India, UCO Bank and United Bank of India.
RBI to regulate non-bank payments aggregators
Sun, Jun 14, 2020
The Reserve Bank will from now on regulate non-bank payments aggregators.
Bank unions demand daily allowance, regular sanitisation of branches during coronavirus pandemic
Fri, Jun 12, 2020
Among other things, the UFBU demanded that bank branches to be regularly sanitised and provided adequate security for regulating entry. Also, senior and women employees be allowed to work from home and those attending the duty at branches be given a daily allowance of Rs 1,000.
EXCLUSIVE! Modi government may announce Rs 1 lakh cr farm loan waiver
Thu, May 28, 2020
A big news may be coming for banking sector, markets and the overall economy! The Modi government is working on a plan to waive-off farm loans worth Rs 1 lakh cr, sources have revealed. Zee Business Executive Editor Swati Khandelwal, in this big breaking news, said that the government could bring this relief package in tranches
Modi government asks banks to extend loans to eligible borrowers without fear of CBI, CVC and CAG
Sun, May 24, 2020
Modi government is leaving no stone unturned to revive the economy.
Exclusive | RBI likely to extend loan repayment moratorium for companies!
Thu, May 21, 2020
The loan moratorium is likely to be extended by another 3 months by the Reserve Bank of India (RBI), Zee Business Executive Editor Swati Khandelwal reported today. While the companies are likely to gain from this move, the development could be negative for banks, Khandelwal said
Crisis liquidity bridge from banks to support companies: Report
Tue, May 12, 2020
"In the second step, additional liquidity support (Crisis Liquidity Bridge) of up to the amount of the COVID Crisis Investment is to be provided by banks to businesses meeting the aforementioned sustainability test. Banks may consider corrective actions for businesses that do not qualify as sustainable post COVID," it said.
Banks find new ways to amuse and inform during lockdown
Mon, May 11, 2020
At a time when the spread of COVID-19 has made social distancing a buzzword, banks have increased their reliance on social media to engage with their customers -- may it be for disseminating information or for dispelling their boredom
Paying EMIs of home loans, car loans or credit card bills? Important development for you
Thu, Apr 23, 2020
If you are among those paying EMIs of home loans, car loans or any other borrowing or credit card bills, then this is an important development for you!
Money transferred into women's Jan Dhan accounts is safe; will not be withdrawn, says Finmin
Tue, Apr 14, 2020
Finance Minister Nirmala Sitharaman last month had announced that as many of 20.5 crore women Jan Dhan account holders will get Rs 500 per month for next three months to run their households and deal with the hardships caused by the nation-wide lockdown.
Banks should declare 1-year moratorium on all loans: Assocham
Sun, Mar 22, 2020
Industry body Assocham has sought a blanket year-long moratorium by banks on debt repayment for both corporates and individuals to deal with the economic fallout of Covid-19.