Govt asks banks to open 15,000 branches in FY21
Thursday, January 16, 2020, 3:36 PM
In a scramble to meet its financial inclusion agenda, the federal government handed lenders a list of location wise branches to be opened by both state-run and private banks, said the source. Lenders including State Bank of India, Bank of Baroda, HDFC Bank and ICICI Bank will open 14,000-15,000 branches in the coming year to reach the unbanked as per a government directive.
NBFC/HFC bankruptcy provisions positive for banks: Moody's
Monday, November 25, 2019, 8:33 PM
To allow bankruptcy proceedings against non-banking financial companies (NBFCs) is positive for banks as its paves the way for orderly resolution of stressed shadow banks, says a report. The government recently empowered RBI to refer stressed NBFCs and HFCs with assets worth of at least Rs 500 crore to insolvency courts after notifying Section 227 of the Insolvency and Bankruptcy Code.
RBI issues new guidelines over private bank CEO remuneration
Monday, November 4, 2019, 8:52 PM
The Reserve Bank of India has said at least half of the remuneration of private sector bank chief executives, whole time directors and material risk takers should be linked with their performance at individual and company level to reflect pay for performance principles. RBI has also streamlined the clawback rules for whole time directors and material risk takers to penalise weak financial performance.