Finance News

RBI interventions, corporate flows pull rupee back from new low against USD After plunging to a new low against the dollar in early hours of trade on Monday, the rupee staged a smart recovery owing to intervention by the Reserve Bank of India (RBI) and dollar sales by banks on behalf of corporate entities, said dealers. The ...

SBI revamps call centre, to offer 30 banking solutions in 12 languages State Bank of India has revamped its customer call centres by unveiling a new contact centre which will offer over 30 banking solutions in 12 languages and will be available round the clock. Currently, the Contact Centre manages 1.5 crore monthly calls, with 40 per ...

RBI cancels the licence of Pune-based Seva Vikas Co-operative Bank Reserve Bank of India (RBI) on Monday cancelled the license of Pune based Seva Vikas Co-operative Bank as the urban cooperative bank lacked adequate capital and earning prospects. The bank ceases to carry on banking business, with effect from the close of business on October 10, 2022, RBI said in ...

Ratings devoid of lenders detail should be treated as unrated exposure: RBI In a move that may put pressure on the capital adequacy of banks, the Reserve Bank of India (RBI) on Monday said loan ratings without information about lenders’ details should be treated as unrated exposure. Capital should be set aside using risk weightings applicable for ...

AU Small Finance Bank re-appoints R V Verma as non-executive chairman AU Small Finance Bank on Monday re-appointed former head of National Housing Bank (NHB) R V Verma as its non-executive chairman. The decision was taken at its board meeting held on Monday, AU Small Finance Bank said in a regulatory filing. The board approved the ...

RBI pulls up banks on exposures’ ratings without lenders’ names The Reserve Bank of India (RBI) on Monday said that a bank loan rating by rating agencies not having lenders’ names won’t be considered for capital computation by banks. Such loans will have to be treated by banks as unrated and they will assign risk weights to ...

RBI cancels licence of The Seva Vikas Co-op Bank amid inadequate capital The Reserve Bank of India on Monday said it has cancelled the licence of Pune-based The Seva Vikas Co-operative Bank Ltd as the lender does not have adequate capital and earning prospects. The bank ceases to carry on banking business, with effect from the close ...

Financial bids for IDBI Bank likely to be invited by March: Officials The financial bids for IDBI Bank privatisation is likely to be invited by March and the conclusion of the sale process is expected in the next financial year, officials said. Last week, the government along with Life Insurance Corporation (LIC) invited preliminary bids for selling ...

Rupee falls 4 paise to close at new low of 82.34 against US dollar The rupee pared most of its initial losses and settled 4 paise lower at a fresh lifetime low of 82.34 (provisional) against the US dollar on Monday, weighed down by as risk-averse sentiment among investors. Moreover, a negative trend in domestic equities and ...

Bank of Maharashtra raises lending rate by 20 bps; EMIs to become costlier State-owned Bank of Maharashtra (BoM) on Monday raised the marginal cost of funds-based lending rates (MCLR) by 0.20 per cent or 20 basis points across tenors. The revision will make loans linked to MCLR benchmark costlier. The benchmark one-year MCLR will be 7.80 ...