Tag: Indian banks

Banks given liquidity facility of Rs 50,000 crore to improve access to emergency health services

NEW DELHI: The RBI Governor Shaktikanta Das has announced a series of measures to support the nation’s fight against the second wave of COVID-19 infections. “Alleviating any constraint from the financing side for all stakeholders – government, hospitals and dispensaries, pharmacies, vaccine/medicine manufacturers/importers, medical oxygen manufacturers/suppliers, private operators engaged in the critical healthcare supply chain, […]

More than Rs 25,586 crore sanctioned to over 1,14,322 accounts by Banks under Stand-Up India Scheme in 5 years

NEW DELHI: India is growing rapidly. Hopes, Aspirations and Expectations are rising. There is a large group of potential entrepreneurs particularly women and Scheduled Caste (SC), Scheduled Tribes (ST) who want to set up an enterprise of their own, which allows them to grow and thrive. Such entrepreneurs are spread across country and are bubbling […]

Supreme Court restrains banks from charging interest-on-interest on borrower during moratorium

NEW DELHI: The Supreme Court on Tuesday said any amount collected during moratorium period by banks as interest on interest or compound interest, should either be refunded or adjusted against the next EMIs payable by the borrowers. A bench comprising Justices D. Y. Chandrachud, M. R. Shah and Sanjiv Khanna pronounced the verdict. The top […]

Finance Minister asks banks to roll out loan restructuring scheme by September 15

NEW DELHI: Finance Minister Nirmala Sitharaman on Thursday asked banks and NBFCs to roll out loan restructuring scheme for COVID-19 related stress by September 15, and provide adequate support to the borrowers following the lifting of moratorium on repayment of debts. The minister urged lenders to immediately put in place a board-approved policy for resolution […]

Danger ahead: $63 billion stalled real estate projects a threat for Indian banks

By Suvashree Ghosh & Dhwani Pandya  NEW DELHI: Ashish Shah is caught in the middle of India’s latest financial crisis. As chief operating officer of Radius Developers, he’s struggling to fund construction of apartment complexes because of a liquidity crunch in the nation’s bloated shadow-banking sector. “Real estate is a sitting duck,” said Shah. “The […]

Vijay Mallya repeats offer of 100 per cent payback for Indian banks

By Aditi Khanna LONDON: Embattled liquor tycoon Vijay Mallya took to social media on Monday to lament the collapse of Jet Airways and repeated his offer of a “100 per cent payback” for state-owned Indian banks to cover his now-defunct Kingfisher Airlines’ debt. The 63-year-old former Kingfisher Airlines (KFA) boss is currently appealing against his […]

Banks may infuse funds into Jet Airways if major shareholders pledge shares

NEW DELHI: Banks are likely to infuse fresh funds into cash-strapped Jet Airways provided major shareholders of the airline, including Gulf carrier Etihad Airways, pledge their shares as collateral, sources said. With the airline unable to get fresh funds, the options are limited now, they added. The full service carrier is grappling with acute financial […]

Aadhaar enrolment, update services by banks, post offices to stay: UIDAI CEO

NEW DELHI: The UIDAI has said that the Supreme Court of India order restricting use of Aadhaar will have no bearing on enrolment and update services being carried out at banks, post offices and government premises. The move comes as service providers may still use offline verification tools that leverage the unique ID without authentication. […]

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