Tag: Banking & Finance

Jun 2

RBI imposes Rs 2.2-crore penalty on Indian Overseas Bank 

Reserve Bank on Friday imposed a penalty of Rs 2.20 crore on state-owned Indian Overseas Bank (IOB) for non-compliance of income recognition and other deficiencies in regulatory compliance. The fine is imposed for contravention of the provisions of certain directions issued by RBI on ‘Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to […]
May 13

Banks should have stronger overview on NBFC borrowers’ lending practices: SBI MD

Banks need to be given “stronger overview” on the lending practices followed by non-bank lenders who borrow from them, a senior official from SBI has said. Non-bank finance companies and microfinance institutions should follow the same risk underwriting and credit monitoring principles as followed by the larger banks from whom they borrow money, C S […]
Jun 12

DHFL administrator R Subramaniakumar is RBL Bank chief

The Reserve Bank of India (RBI) has cleared the appointment of R Subramaniakumar as managing director and chief executive officer of RBL Bank for a period of three years, the lender said on Saturday. Subramaniakumar has earlier overseen the insolvency process of Dewan Housing Finance Corporation (DHFL) in his capacity as administrator. “Please note that […]
Jun 6

Banks see pick-up in capex loans

With an uptick in demand for project finance from late last year, bankers believe need for long-term funds should rise by anywhere between 12-15% this year. Bank credit deployed in the infrastructure segment rose 10.2% year-on-year in April 2022, with roads, telecommunications and power leading the pack. The outstanding credit to this space, towards the […]