Monday, March 1, 2021

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Banking sector

Now private sector banks can conduct government transactions, union government lifts embargo

Private sector banks will be able to conduct govt-related transactions such as taxes, pension, small savings schemes etc

Central Government appoints Expert Committee to make an overall assessment in relation to waiver of interest on loans

The Expert Committee will be looking into matters including waiver of interest and waiver of interest on interest.

Union government brings cooperative banks under RBI control through an ordinance

The cabinet on Wednesday passed an ordinance to extend the Reserve Bank of India's supervision over the cooperative banks

India Post delivers Rs 1,000 crore in cash to account holders, 23 lakh new bank accounts created during the lockdown

Nearly Rs 1,051 crore have been delivered by India Post in as many as 59 lakh transactions during the lockdown period

RBI Governor announces new measures to ease financial distress amidst coronavirus lockdown

Quoting the IMF projection of 1.9% (GDP) growth, the RBI Governor said that India's growth would be the highest among the G20 countries

Banks allowed to defer EMIs by 3 months, cut in repo rate, liquidity injection of Rs 3.74 lakh crores: Highlights of the RBI Governor’s...

The most important notification put out by the RBI on Friday was that a three-month moratorium has been announced on payment of instalments of loans outstanding on March 1, 2020.

Enforcement Directorate summons Anil Ambani who had borrowed ₹14,000 crores from Yes Bank

The ED had sought information regarding terms and conditions, side agreements of the loans disbursed by Yes Bank to Anil Ambani for his construction company.

Rana Kapoor and Wife booked for taking bribes to the tune of ₹307 crores through the purchase of posh Delhi bungalow

The fact that Bliss Abode Pvt Ltd. (where Kapoor was a co-borrower) bought the property (in charge with Yes Bank, the founder of which is Rana Kapoor) was a clear case of conflict of interest. This vital information was withheld from the Yes Bank Board and the MCC in violation of the bank's code of conduct and the Companies Act, 2013.

Enforcement Directorate arrests Yes Bank founder Rana Kapoor over money laundering charges

The founder of the crisis-hit YES Bank, Rana Kapoor, was arrested by the Enforcement Directorate (ED) on Sunday around 3 am in Mumbai.

Phone Pe and Paytm engage in Twitter banter after YES Bank moratorium affects the former

The Twitter confrontation with PayTM happened after PhonePe was forced to temporarily suspended its services

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