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FINANCIAL NEWS IN A NUT SHELL

Yatheendradas C.k. at 08:35 AM - Jul 10, 2017 ( ) Views: 152

Customers' complaints about problems like cash
withdrawal and exchange of old notes faced post
demonesaon
cannot be entertained under
the Banking Ombudsman scheme, the RBI has
said.
"Banking Ombudsman Scheme 2006
specifies 27 grounds of complaints under which
complaints can be lodged. Complaints related to
demonesaon
is not a ground of complaint
specified under the Scheme,
" a Right to
Informaon
( RTI) query sent to the RBI has
revealed.
‐Economic Times


RBI has amended its direcve
asking banks to
iniate
bankruptcy proceedings against 12
companies which have failed to repay loans over
Rs 5,000 crore as on March 2016. The
amendment follows a Gujarat high court order
pulling up the RBI for stang
that cases idenfied
by it would be granted priority at the Naonal
Company Law Tribunal.
‐Times of India


The SBI has launched a digital village iniave
in Nepal by installing a cash recycling centre.The
digital village iniave
has been launched in
Jarisingpouwa in Shankarapur Rural
Municipality, 25 km east from Kathmandu. The
centre was inaugurated jointly by Governor of
Nepal Rastra Bank Chiranjibi Nepal and
Chairwoman of SBI Arundha
Bhaacharya
yesterday.
‐Economic Times


Housing finance regulator NHB is examining the
issue of extending the NPA classificaon
period
from the current 90‐day window, a move aimed
at benefing
borrowers and as well as lenders.
All the pros and cons relang
to the issuing are
being considered before coming to a final
conclusion, Naonal
Housing Bank (NHB) MD S
Kalyanaraman told.
‐Business Standard


In a major move, market regulator SEBI on Friday
banned FPIs from issuing offshore derivave
instruments or P‐Notes for derivaves
as
underlying. The SEBI in a late evening circular
said that excepon
will be made for P‐Note
issuances on derivaves
only where it is done for
hedging purpose and underlying shares are held
by FPIs.
‐Business Line


IDFC and the Shriram group said they had
entered 90 days of merger talks. Under the
tentave
arrangement, IDFC Ltd will be the
holding co of the merged enty;
Shriram City
Union Finance, the retail lending arm of Shriram
Capital, will be merged with IDFC Bank;
and Shriram Transport Finance will be a fully
owned subsidiary of IDFC, which will also own
75% of the life and general insurance arms of
Shriram Capital.
‐Business Standard


Acknowledging steps being taken by India for
sustainable and inclusive growth as well as
support to global economy, the G20 has praised
the iniaves
in the country for promong
ease
of doing business,startup funding and
labour reforms.
‐Economic Times


The fate of the priceless artwork collecon
of Air
India, acquired over the past 60 years, will be
decided by a group of ministers which is looking
into the proposal for the air carrier's
disinvestment, official sources said. The inventory
of the thousands of artefacts,comprising works
by stalwarts such as M F Husain, SH Raza, VS
Gaitonde is sll
underway.
‐Economic Times


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