Category: Banking

DBS is World’s Best Bank for the third year in a row

(Eds: Disclaimer: The following press release comes to you under an arrangement with PRNewswire. PTI takes no editorial responsibility for the same.) Global Finance magazine awards DBS ‘Best Bank in the World’ title for the second time in three years MUMBAI, India, Sept. 8, 2020 /PRNewswire/ — DBS […]

RBI announces nine additional measures for strengthening the Economy

Cuts interest rates, extends moratorium by another 3 months Exporters and Importers get More Liquidity Domestic Economy to contract in 2020-21, revive gradually in the second half: RBI Governor “It is when the horizon is the darkest and human reason is beaten down to the ground that faith […]

RBI ramps up economic support; cuts interest rates, extends loan moratorium

Mumbai, May 22: The Reserve Bank of India (RBI) on Friday slashed interest rates, extended moratorium on loan repayments and allowed banks to lend more to corporates in an effort to support the economy which is likely to contract for the first time in over four decades. The benchmark […]

RBI announces Rs 50,000 cr special liquidity facility for mutual funds

Mumbai, Apr 27:  The Reserve Bank of India on Monday announced a Rs 50,000 crore special liquidity facility for mutual fund, days after Franklin Templeton Mutual Fund decided to close six debt schemes. In a statement, the central bank said heightened volatility in capital markets in reaction to […]

Loan moratorium: Banks ask customers to be cautious against frauds

Kolkata, Apr 10: Several banks have cautioned their customers against possible attempts by fraudsters as they became active to exploit the three-month loan repayment moratorium offer in the wake of the coronavirus outbreak, officials said on Friday. The cyber criminals pretending as officials of banks have been reaching out […]

EMIs put on hold, big-bang interest rate cut as RBI joins fight against coronavirus

Mumbai, Mar 27 (PTI) The RBI on Friday put on hold EMI payments on all term loans for three months and cut interest rate by steepest in more than 11 years as it joined the government effort to rescue a slowing economy that has now got caught in coronavirus […]

Yes Bank resolution framework underway, depositors can withdraw money from Mar 18: Das

Mumbai, Mar 16: The Reserve Bank of India (RBI) on Monday said the resolution framework for Yes Bank is underway as planned and depositors can withdraw their money from the evening of March 18. The RBI governor, Shaktikanta Das, also assured to intervene with additional liquidity if there is […]

SBI to invest Rs 7,250 cr for Yes Bank rescue

Mumbai, Mar 12: The largest lender State Bank of India on Thursday announced a Rs 7,250-crore fund infusion into the crippled Yes Bank under which it will pick up to 49 per cent equity in the fourth largest private sector lender. The fund infusion is part of the Reserve […]

Some bondholders of India’s Yes Bank file court petition against rescue deal

MUMBAI – Some bondholders of Yes Bank (YESB.NS) have filed a court petition against a state-led rescue deal that involves a writedown of their papers, potentially hindering a timely recovery at the beleaguered Indian lender. Axis Trustee Services Ltd, representing several investors in so-called AT1 bonds issued by […]

Yes Bank debt writedown to hit sector capital-raising

MUMBAI/HONG KONG – The unexpected writedown of some bonds issued by crisis-hit Indian lender Yes Bank Ltd as part of a state-led rescue is set to raise borrowing costs and make capital-raising tougher for other banks, investors and analysts said. The take over of Yes Bank by India’s […]

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