Private sector lender Karnataka Bank has been authorised to collect direct and indirect taxes on behalf of the Central Board of Direct Taxes (CBDT) and […]
Tag: banks
Canara Bank, Bharat BillPay tie up for cross border bill payments for Indian diaspora in Oman
Canara Bank and NPCI Bharat BillPay Ltd (NBBL) have announced the launch of cross-border inward bill payment services for Indians based in Oman. NRIs can […]
RBI to stop banks from capitalising penal charges on loans defaults
The Reserve Bank of India (RBI) pulled up banks for overcharging borrowers in the guise of penal interest rates and has come up with proposals […]
Disguised payouts: Banks, insurers face GST notices
The goods and service tax (GST) authorities are set to issue show-cause notices to 29 insurance companies, a leading private bank, around five non-banking financial […]
JICA, Citi to provide USD 125 mn to Indusind Bank for onlending to agri sector
Japanese lender JICA has teamed up with Citibank to provide a USD 125 million funding line to domestic private sector lender Indusind Bank. Indusind will […]
RBI brings out norms for outsourcing of IT services
The Reserve Bank of India on Monday released master directions for the outsourcing of IT services by banks and non-banks that ensure that regulated entities […]
Retail loan securitisation rises 56% to Rs 1.76 lakh cr in FY23
Retail loan securitisations jumped a robust 56 per cent to Rs 1.76 lakh crore in the just concluded fiscal 2023, while that of wholesale rose […]
CVC asks banks, govt depts to send factual report on corruption complaints in one month
The Central Vigilance Commission (CVC) has asked public sector banks, insurance companies and government departments to provide factual reports on corruption complaints sent to them […]
SBI looks to raise up to $2 billion in FY24 via overseas bond sales
State Bank of India (SBI), the country’s biggest government-owned entity by market capitalisation, Monday said it plans to garner up to $2 billion in FY24 […]
FY’23 loan growth at 11 year high despite steep hike in lending rates
Credit growth continued to outpace deposit growth in FY’23 at an eleven year high even as banks have transmitted fully -250 bps – their lending […]