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5 mins read

Two years after the PMC Bank crisis, depositors of stressed banks to get up to ₹5 lakh by December

“Accordingly, DICGC shall pay the depositors of the insured banks (as per list) placed under AID…

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1 min read

Lakshmi Vilas Bank is the fifth financial firm to collapse in India within the last 30 months

The downfall of Lakshmi Vilas Bank (LVB) was in the making for over a year, and it’s only the mos…

Prabhjote Gill   


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2 mins read

PMC Bank will have a new owner in Centrum and BharatPe

The PMC Bank has been facing regulatory action and investigations over the alleged irregularit…

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2 mins read

India Budget 2020: Bank scam victims are assured of ₹5 lakh instead of ₹1 lakh

“A robust mechanism is in place to monitor the health of all banks and the money of deposito…

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2 mins read

PMC Bank crisis: Administrator to seek valuation of HDIL's aircraft, yacht

Mumbai, Dec 27 () The RBI-appointed administrator of scam-hit Punjab and Maharashtra Co-operative B…

PTI   


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2 mins read

RBI will have to do more than cut repo rate like address PMC and other crises

India's central bank, the Reserve Bank of India (RBI), might cut cut its interest rates again by 25…

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4 mins read

Here's why former RBI governor Rajan and former deputy Acharya believe the plan to allow corporations to own banks is a 'bad idea'

Their direct access into the financial veins of the system would only increase the concentrati…

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1 min read

RBI to supervise cooperative banks — they will adhere to the same rules as other scheduled banks in India

The Union Cabinet has decided to bring all cooperative banks under the supervision of the Reserve B…

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5 mins read

Yes Bank crisis and its domino effect on bonds, mutual funds and other corporate defaults

The challenges in the face of the Yes Bank crisis are likely to be temporary, since they are a dire…

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1 min read

Appreciate difficulties of PMC bank depositors on moratorium on withdrawals, HC to Centre, RBI

After hearing all sides in the matter, the bench said,"We direct the concerned respondents to appre…

PTI   


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Deposit Insurance Corporation sees Rs 14,100-cr claims amid PMC crisis

Mumbai, Dec 29 () The Deposit Insurance and Credit Guarantee Corporation has received a total claim…

PTI   


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2 mins read

Three-year-old BharatPe and Centrum gets RBI nod to set up a small finance bank

Earlier in the day, BharatPe announced that former SBI veteran Rajnish Kumar is joining its b…

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2 mins read

As customers press SOS button, Twitterati busy flooding memes on crisis-hit Yes Bank

A post by account 'Doctor Nirav Modi @niiravmodi' read, "I am a Hindu, last year, the government s…

PTI   


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3 mins read

Govt has no plans to bring other pvt sector lenders under scrutiny post Yes Bank crisis: Source

"The event raises serious issues around corporate governance in the bank but will now bring all oth…

PTI   


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3 mins read

LVB-DBS Bank India merger approved by Union Cabinet — ‘those who have made mistakes will be punished’

“Customers need not rush to banks to withdraw their money. However, whoever does wish to withdra…

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3 mins read

Indian financial system steadily maturing, as it moves away from banks, says RBI Governor Shaktikanta Das

India’s financial system, he said, has transformed rapidly to support the growing needs of the e…

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4 mins read

All eyes on Parliament's Monsoon session — the Banking Regulation (Amendment) Bill 2020 gets introduced

The Monsoon session of the Indian Parliament kicked off today and the Banking Regulation (Amendment…

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2 mins read

Cabinet clears amendment to banking laws to strengthen cooperative banks

The proposed law seeks to enforce banking regulation guidelines of the RBI in cooperative banks, wh…

PTI   


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3 mins read

Rajya Sabha passes Banking Amendment Bill 2020 bringing cooperative banks under RBI's umbrella

"During the COVID period, many cooperative banks have come under stress. 277 urban cooperative b…

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3 mins read

Bandhan Bank shares have gained 54% since lockdown started⁠— but the numbers will reveal the real damage to rural India from COVID-19

So far, the share price reflects some optimism. It’s up over 54% since the lockdown starting Mar…