Tag: Banks
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PSU Banks Write Off ₹6.15 Lakh Crore in Loans Over 5.5 Years
A comprehensive breakdown of the Finance Ministry’s disclosures in Parliament: massive loan write-offs by Public Sector Banks, improving capital positions without government infusion, rising digital fraud cases, and the scale of export credit disbursement over the past five years Loan write-offs, cyber frauds, export credit: Govt shares key banking data in LS Public sector bankshave…
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Government Directs Banks to Report Concerns on Executive Conduct
Mumbai|New Delhi: India’s finance ministry has directed state-run banks and financial institutions to immediately report any adverse information concerning whole-time directors (WTDs) and board-level appointees, with instances of delayed disclosures raising governance concerns in the lending ecosystem. The advisory follows ET’s November 29 report that Ashwani Kumar, MD & CEO, UCO Bank, continues to remain…
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RBI Approves Fino Payments Bank’s Transition to Small Finance Bank
Notably, Fino Payments Bank is targeting a profit after tax of Rs 100 crore in the current financial year, according to Chief Executive Officer Rishi Gupta. He had stated that the conversion into a SFB will enable greater control over its product offerings and drive further growth. “We are working on some renegotiation, working on…
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Government Aims for RRB Listings in FY27, Two Banks Set to Launch
New Delhi: The government has directed state-run lenders to prepare for the stock market listing of their sponsored regional rural banks (RRBs) in the next fiscal year. Officials aware of the development told ET that at least two RRBs, likely including Uttar Pradesh Gramin Bank, are being considered for market debut in the first half…
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RBI Approves Fino Payments Bank’s Transition to Small Finance Bank
Mumbai: The Reserve Bank on Friday granted ‘in-principle’ approval to Fino Payments Bank Ltd (FPBL) for conversion into a Small Finance Bank (SFB).Fino Payments Bank, which started operations in 2017, had applied for a small finance bank license in October-December 2023. RBI has issued the Guidelines for ‘on tap’ licensing of SFBs in the private…
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Bank of England Lowers Capital Requirements for UK Banks
The Bank of England’s Financial Policy Committee (FPC) reduced its benchmark capital requirement for UK banks from %14 to %13 of risk-weighted assets (RWAs). Following a decline in average risk weights since 2016, a growing number of major UK banks are now more constrained by leverage ratio requirements than by risk-weighted measures. The FPC plans to…