The Lok Sabha today passed the banning of unregulated Deposit Schemes Bill, 2018. This Bill was passed through a voice vote after the interim Finance Minister Piyush Goyal moved certain amendments to the Bill, which was earlier referred to the Standing Committee on Finance.
The RBI has imposed a monetary penalty of ₹1.50 crore each on Allahabad Bank, Bank of Maharashtra and Indian Overseas Bank, and ₹1 crore on Andhra Bank, the RBI, in a statement said. The penalty has been imposed on the PSBs for non-compliance with various directions issued on monitoring of end use of funds, exchange of information with other banks, classification and reporting of frauds, and on restructuring of account. The RBI also imposed a monetary penalty of ₹20 lakh each on HDFC Bank, IDBI Bank and Kotak Mahindra Bank for non-compliance with various directions issued by the RBI on KYC norms / AML standards.
Loans to the tune of Rs 20,900 crore have been sanctioned under the 100-day outreach programme for MSMEs across 104 districts announced in Nov, a top official said today. Secretary in the Department of Financial Services Rajeev Kumar said 33 lakh MSMEs have been provided facilities under the 100-day outreach programme. Out of these, 6.36 lakh MSMEs in 39 districts are under the textiles sector.
The Govt on Tuesday informed Parliament that loans worth Rs 7,277.31 crore of PSBs under Pradhan Mantri Mudra Yojana (PMMY) have turned bad at the end of March 2018. Loans extended under PMMY from inception of the scheme up to March 2018 by all member lending institutions (MLIs) were Rs 5.71 lakh crore, Minister of State for Finance Shiv Pratap Shukla said in a written reply to the Rajya Sabha.
Over 900 cases of fraud related to debit/credit cards and internet banking, involving amount of Rs 1 lakh and above, were registered during April-Sep 2018, Parliament was informed today. The RBI has registered a total of 921 cases of fraud involving ATM/debit cards, credit cards and Internet banking, wherein the amount involved was Rs 1 lakh and above, during 2018-19 (up to Sep 30, 2018), Minister of State for Electronics and IT S S Ahluwalia said in a written reply to Lok Sabha.
Both bank credit as well as deposits growth marginally declined on a fortnightly basis, clipping at 14.5% at Rs 94.29 lakh crore deposits grew at a tepid 9.63% to Rs 121.22 lakh crore for the fortnight ending Feb 1, according to the latest RBI data. In the previous fortnight ended Jan 18, deposits had increased by 9.69% to Rs 119.86 lakh crore and credit grew by 14.61% to Rs 93.32 lakh crore.
ABN Amro today posted last quarter net profit, plunged 42% to 316 million euros from 542 million euros a year earlier.
Allahabad Bank has sought RBI’s permission to transfer the bad loans in its Hong Kong branch into the Indian balance sheet even as it is looking to sell down the good assets to other lenders.The transfer and offloading of assets is necessary as the lender is in the process of winding up its lone overseas branch in Hong Kong.
A Manimekhalai has taken charge as the ED at Canara Bank. She was previously with Vijaya Bank as GM.