Category: Banking

Searches resume at J&K Bank corporate headquarters

Anti-corruption bureau sleuths, who are looking into allegations of fraudulent appointments in the Jammu and KashmirBank, Sunday again raided the financial institution’s corporate headquarters here, officials said. On Saturday, searches were carried out at the bank’s headquarters at M A Road, soon after Parvez Ahmad was removed as its chairman by the state government. The bureau

After RBI delivers, the big question: Will the banks yield, too?

Significant easing of liquidity is critical for better transmission The RBI delivered on expected lines and cut its policy repo rate by 25 bps. While the central bank changing its stance from neutral to accommodative — essentially implying that rate hikes are out of the way — has further buoyed sentiments, the bigger question is whether banks

Americans Need A ‘Fitbit’ Of Banking

OBSERVATIONS FROM THE FINTECH SNARK TANK In a recent survey, the Financial Health Network asked financial services executives about their organizations’ most important strategic priorities. The second most-frequently mentioned priority–cited by seven in 10 banks and credit unions–was “improving customer financial health.” I’m not buying it. The Data Doesn’t Add Up If seven in 10 financial institutions are focused

11 Indians Get Swiss Notices In Process To Share Banking Details

NEW DELHI/BERNE:  As Switzerland strives hard to re-establish its global financial centre position after clamping down on secrecy walls of its banks, there has been a significant surge in the number of cases where it has initiated process to share information on Indians with Swiss bank accounts and shot off letters to about a dozen

Merger impact: Bank of Baroda looks to rationalise 800-900 branches

NEW DELHI: State-owned Bank of Baroda (BoB) is considering the option of rationalising 800-900 branches across the country to improve operational efficiency, following its merger with Dena Bank and Vijaya Bank. The merger of Dena Bank and Vijaya Bank with BoB became effective from April 1. It does not make sense to have branches of Dena

RBI asks shadow banking companies to appoint risk officers

India’s central bank said on May 16 that shadow banks with asset size of more than 50 billion rupees should appoint a chief risk officer in a move to tighten regulation after a series of defaults at top lender Infrastructure Leasing & Financial Services’ (IL&FS). The government took control of IL&FS last year after its default

View: Economies of scale in bank mergers would be huge

The recent successful merger of two public sector banks (PSBs), Dena Bank and Vijaya Bank, with Bank of BarodaNSE -2.97 % has paved the way for the future road map of PSB restructuring. It has created the right synergy, achieved scale & resulted in better shareholder value creation. It would be wrong to think that this move of GoI was in

How to link Aadhaar card to bank account

The process to link your bank account with Aadhaar is more or less similar for most banks. Once the process is initiated, the bank takes your consent and will get your Aadhaar linked with your bank account. Banks usually provide you four different options to link your bank account with Aadhaar. It can be done either through the online mode, offline mode, via SMS,

Want efficient banks? Go for more mergers, says RBI research

More consolidation in India’s struggling banking sector will help lenders lower costs and efficiently scale their operations, said researchers at the Reserve Bank of India. Labour cost efficiency, or output per employee, moderated across the sector between 2005-18, according to the recently-published paper. The authors added that state-owned banks fared better than private rivals on this metric