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Banks plan uniform lending policy in jewellery sector

Thursday, August 1, 2019, 11:18 AM

Banks plan uniform lending policy in jewellery sector

Banks are in the process of implementing uniform policies to streamline the loan processes to gems and jewellery (G&J) industry, a senior banker said. He said one of the main challenges for the unit in the sector is obtaining credit from banks as there is a lack of uniform approach in terms of norms for security and margins, among lenders.

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Damned if you do, damned if you don't: Mallya lashes out at banks

Thursday, March 28, 2019, 6:28 PM

Damned if you do, damned if you don't: Mallya lashes out at banks

A day after banks recovered Rs.1,008 crore by selling shares held by Vijay Mallya in United Breweries, the liquor baron tweeted, "So much so for branding me a thief who stole PSU Bank money and ran away". "All included in my settlement proposal too. Damned if you do and Damned if you don't is how I am treated," he added.

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Lenders may pick up substantial stake in Jet Airways

Friday, March 22, 2019, 8:58 PM

Lenders may pick up substantial stake in Jet Airways

This might just come as a new lease of life for the cash-strapped Jet Airways, which is waging a battle on many fronts. The lenders of the debt-laden carrier are pressing for a change in management, government sources told ETNow. They are believed to be weighing a plan to sell the company after securing a stake.

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China banking regulators tell banks to boost support for rural economies

Sunday, March 10, 2019, 12:32 PM

China banking regulators tell banks to boost support for rural economies

China's banking and insurance regulators have issued a notice to commercial banks to boost financial support for country's rural-areas. In a notice issued on March-8, the China Banking and Insurance Regulatory Commission told commercial banks to fulfill special lending targets, including those for achieving faster increases in loans to farmers and other businesses in rural areas. The notice did not refer to specific targets.

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ED may allow banks to sell Mallya's attached shares

Thursday, February 14, 2019, 11:44 AM

ED may allow banks to sell Mallya's attached shares

The Enforcement Directorate, through a consortium of banks led by the State Bank of India, has informally conveyed to Heineken NV, part-owner of United Breweries, that it plans to allow banks to auction attached shares of the Indian beer maker soon after it gets a court's approval, two people with direct knowledge of the matter said.

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Cheques worth Rs 20,000 crore were stuck due to bank strike: Employees union

Thursday, January 10, 2019, 5:47 PM

Cheques worth Rs 20,000 crore were stuck due to bank strike: Employees union

As several PSU banks were closed for two days this Tuesday and Wednesday to protest against government policies, an employee union leading the strike has claimed that clearance of cheques valued over Rs.20,000Cr was stuck as a result. In a statement, AIBEA said cheques worth about Rs.20,000Cr could not be cleared by the clearing houses all over the country, news agency IANS reported.

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Bank NPA levels on the decline: RBI governor Shaktikanta Das

Monday, January 7, 2019, 7:38 PM

Bank NPA levels on the decline: RBI governor Shaktikanta Das

Reserve Bank of India (RBI) Governor Shaktikanta Das Monday expressed satisfaction over performance of the banking sector saying bad loans have declined, particularly of state-owned banks. He also said the RBI has also initiated stakeholder consultation on governance reform in the banking sector. RBI's recent FSR report said stress tests suggest there would be further improvement in banks' asset quality in the new year.

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Bank of Baroda to become larger than ICICI Bank from 1 April

Thursday, January 3, 2019, 8:59 PM

Bank of Baroda to become larger than ICICI Bank from 1 April

Powered by the business of Dena Bank and Vijaya Bank, Bank of Baroda will become larger than ICICI Bank from 1 April following completion of the amalgamation process of three state-run banks. After State Bank of India (SBI) and HDFC Bank, with businesses of Rs 45.85 trillion and Rs 15.8 trillion respectively, ICICI Bank (Rs 11.02 trillion) is the third largest commercial bank now.

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As polls draw closer, government mulls steps to support farmers in distress

Wednesday, December 26, 2018, 7:40 AM

As polls draw closer, government mulls steps to support farmers in distress

The government is considering several measures to support farmers in distress as pressure mounts for a nationwide loan waiver scheme ahead of the general election. These include doubling collateral-free loans under Kisan Credit Cards (KCCs) to Rs.2 lakh and changes in the Pradhan Mantri Fasal Bima Yojana (PMFBY) crop insurance scheme to enhance coverage and ensure faster settlement of claims, said a senior official.

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Sunday, December 23, 2018, 11:33 AM

"Bonafide Mistakes Of Banks Should Be Rectified": Nitin Gadkari

In the current situation, attempts are being made to make crisis in a bank "worse" while ideally "bonafide mistakes" of banks should be rectified, Union minister Nitin Gadkari said in Pune. Speaking at an event organized by PDUCBAL, the BJP leader said if a bank is in a bad situation due to huge non-performing assets(NPA) then the policy should be to revive such institutions.

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