According to Subbarao, coming up with a roadmap would provide much needed predictability to stakeholders. Subbarao further said that the big bang approach to privatisation of state-owned banks is not desirable but at the same time the issue should not be put on the back burner.
​​​Parbhani district in the backward Marathwada region of Maharashtra has the highest non-performing assets (NPAs) at 60.54 per cent, according to data released during the State Level Bankers Committee meeting held in Aurangabad on Monday.
The Delhi-based lender has crossed ₹8 lakh crore in global advances showing a 10% year-on-year growth with retail loan portfolio rising by 11% and personal loan rising by 25%.
The private lender has 12 million pre-approved loan customers across products. It has set up an infrastructure base across 650 districts in India to disburse unsecured loans.
This will become a common remittance platform in collaboration with Singapore’s PayNow funds transfer service and make the process real time, instead of the more than one day it takes now to complete international transfers.
RBI in July issued a detailed circular asking banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. The announcement by the Reserve Bank of India (RBI) to allow cross-border trade transactions in rupee is a timely move and a step towards internationalisation of the currency.
​​​ A trans-friendly or inclusive labour culture is the need of the hour and this is a big step towards the inclusive revolution, Kerala-based ESAF Small Finance Bank said in a statement. The Reserve Bank of India in 2015 directed banks to include a separate column 'third gender' in all their forms and applications.
​​In an exclusive interview with ET’s Atmadip Ray, Goel said that the bank is capital ready to lap up the growth opportunities going forward. He said that the revival of the economy along with focused recovery initiatives would help the lender to reduce NPA to single digit and improve net interest margin to 2.9%.
The benchmark one-year MCLR will be 7.75 per cent against the existing rate of 7.65 per cent. The one-year rate is used to fix most consumer loans such as auto, personal and home loans.