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In today’s competitive job market, earning a degree is only the beginning of your professional journey. Every year, thousands of graduates aspire to build a career in banking, yet many struggle to secure the right opportunities because employers are looking for more than academic qualifications. Banks and financial institutions want professionals who are equipped with […]

In today’s competitive world, waiting until graduation to start preparing for a career is no longer enough. Students who begin building professional skills during their college years are gaining a significant advantage in the job market. One sector that continues to offer excellent career opportunities is the Banking and Financial Services Industry. With the rapid […]

Introduction In the banking industry, products and services are important, but trust is what truly drives long-term success. Every day, customers trust banks with their hard-earned money, financial goals, investments, and future plans. Whether it is opening a savings account, applying for a loan, investing in financial products, or seeking financial advice, customers expect honesty, […]

Introduction With the rapid growth of mobile banking, internet banking, UPI payments, and digital wallets, many people believe that physical bank branches will soon become irrelevant. However, despite the rise of digital banking, bank branches continue to play a crucial role in India’s financial ecosystem. Millions of customers still visit bank branches every day for […]

Introduction In today’s fast-changing world, students and graduates are constantly searching for careers that offer job security, professional growth, financial stability, and long-term success. Among all industries, the banking sector continues to stand out as one of the most trusted and rewarding career options in India. With the rapid growth of digital banking, financial services, […]

Introduction In today’s competitive job market, many graduates struggle to find the right career opportunities due to lack of practical skills and industry exposure. While academic education provides theoretical knowledge, companies and banks prefer candidates who are professionally trained and job-ready. Banking courses have become one of the best career options for students who want […]

Introduction The BFSI sector — Banking, Financial Services, and Insurance — is one of the largest and fastest-growing industries in India. With increasing financial awareness, digital banking growth, and expanding financial services, the industry is creating thousands of career opportunities for freshers every year. For students looking for stable careers, professional growth, and attractive salary […]

 Introduction The banking industry offers excellent career opportunities for freshers and graduates. However, getting selected in the banking sector requires more than academic knowledge. Banks today look for candidates who have both technical and professional skills. Developing the right banking skills can help students improve their confidence, interview performance, and career growth opportunities. Important Skills […]

Introduction The banking industry in India is rapidly transforming with the growth of digital technology. Today, customers prefer fast, secure, and convenient banking services that can be accessed anytime and anywhere. From mobile banking to UPI payments, digital banking has completely changed the way people manage their finances. As technology continues to grow, banks are […]

Introduction The banking industry is one of the fastest-growing and most customer-focused sectors in India. While technical knowledge and banking operations are important, soft skills have become equally essential for building a successful career in banking. Today, banks are looking for professionals who can communicate effectively, handle customers confidently, solve problems quickly, and work efficiently […]

In today’s fast-changing job market, companies are no longer hiring candidates based only on degrees. Banks and financial companies now focus more on practical skills, communication, confidence, and industry knowledge. This is one of the biggest reasons why banking and finance courses are becoming highly popular among students across India. The banking industry is growing […]

Build Confidence, Improve Communication & Crack Banking Interviews Successfully Many students dream of working in top private banks but often feel nervous during interviews. Even talented candidates sometimes fail to get selected because they lack confidence, communication skills, and professional interview preparation. In today’s competitive banking industry, interview preparation has become one of the most […]

Build a Secure, Professional & Successful Future in the Banking Industry In today’s fast-growing financial world, banking has become one of the most preferred career options for fresh graduates. Students from B.Com, BBA, BA, MBA, and other educational backgrounds are choosing banking careers because of excellent growth opportunities, professional work culture, and attractive salary packages. […]

Explore High Growth Career Opportunities in the Banking Industry Private banking jobs have become one of the most popular career choices among fresh graduates. With attractive salaries, professional work culture, and fast career growth opportunities, the banking industry offers an excellent future for students. In 2026, private banks are actively hiring skilled and confident candidates […]

Learn Industry Skills & Become Job Ready for Banking Careers The banking industry is changing rapidly, and companies now prefer candidates who have practical knowledge instead of only theoretical education. Students who understand real banking operations and customer handling have better chances of getting selected. Practical banking training helps students become industry-ready and improves their […]

Build Confidence, Communication & Professional Personality for a Successful Banking Future In today’s competitive banking industry, having good marks alone is not enough to get selected in top banks and financial companies. Banks are now looking for candidates who can communicate confidently, handle customers professionally, and work effectively in a team environment. This is why […]

Upgrade Your Skills & Become Industry Ready for Banking Careers In today’s competitive job market, many graduates dream of getting a secure and professional job in the banking sector. However, banks now prefer candidates who not only have a graduation degree but also possess practical banking knowledge and professional skills. This is why banking courses […]

Start Your Career in the Banking Industry with the Right Skills and Training The banking industry in India is growing rapidly, creating thousands of job opportunities for graduates every year. Many students dream of building a successful career in private banks, financial institutions, and multinational banking companies. However, most fresh graduates are confused about how […]

Introduction In today’s competitive world, students are constantly searching for career options that offer stability, growth, attractive salaries, and long-term opportunities. Among all industries, the Banking & Finance sector has emerged as one of the most trusted and fastest-growing career fields in India. With the rapid expansion of private banks, financial institutions, fintech companies, insurance […]

Your Trusted Partner for a Successful Career in Banking & Finance In today’s fast-growing financial world, the Banking and Finance industry offers excellent career opportunities for students and job seekers. However, getting the right skills, practical knowledge, and industry exposure is equally important to succeed in this competitive sector. This is where BankEdge Academy plays […]

Extortion e-mails are a type of scam, where cybercriminals send threatening messages to individuals or organisations demanding payment in exchange for not releasing sensitive or embarrassing information. These e-mails typically claim that the sender has compromising information, such as private photos or personal data and threaten to share it with the recipient’s friends, family or the public […]

I work in the IT industry and have plans to retire in the next 10 years. I have already planned for my daughter’s education and kept ₹50 lakh aside for this. I have also invested in two properties that are valued at ₹1.2 crore today, and on which I will be paying EMIS (equated monthly […]

What to do Before Interviews? Before you go for an interview you need to prepare yourself well. This is because in the process of an interview every aspect of yours will be analysed very critically. Whatever you have to say about yourself will be probed. Your answers will make room for many other questions. So […]

Preparing for banking interviews is always a tough task. Fret not, Bankedge PickUp cell is here for your quick help. Yes, Bank interviews are difficult but with the right preparations and guidance, you can clear the interview with ease. In this special blog, we give you some readymade answers to some difficult questions asked by […]

The Public Sector Bank, Bank of Baroda has announced launch of Interoperable Cardless Cash Withdrawal (ICCW) facility wherein a customer can withdraw cash using UPI from the bank’s ATMs. Bank of Baroda is the first public sector bank to launch this service. Bank of Baroda customers as well as customers of other participating issuer banks […]

Axis Rupay Credit Card on UPI Axis Bankis the sixth bank to launch Rupay credit cards on UPI after Punjab National Bank, Union Bank of India, Indian Bank, HDFC Bank, and Canara Bank. This means, you can now link Axis Bank RuPay Credit Cardwith the UPI application by entering the credit card's last six numbers and expiry date. Customers can currently [...]

Paytm Payment Bank offers new UPI features

Best Home Loan Rates

Private Banks Bet on Non-Govt Capex, NBFC Growth

Stagger your entry into Medium and Long Term Debt funds

How do i manage my credit debt?

Frauds Detection

EMIs for UPI payments from ICICI Bank

Lessons for India from US Bank Debacle. **Courtesy: Business Lines dt 11th April 2023

Digital Lending Digital Lending involves lending through web platforms or mobile apps, utilizing technology for authentication and credit evaluation. History reveals that lending has been a transaction in which the lender gives money to the borrower in exchange for a return (interest) on the money. There are a variety of complex lending and financing instruments [...]

It is the order of the day to talk about e-commerce, or electronic commerce, which is a term used often in sales discussions. Product sellers and service providers are able to increase sales through online commerce and boost revenue with ease. Selling online is a popular sales method, worldwide. A report adds to say that [...]

Gross and Net Non Performing Assets Gross non-performing assets (GNPAs) and net non-performing assets (NNPAs) are important metrics used in the analysis of a bank's financial health. Non-performing assets (NPAs) are loans or advances that have stopped generating income for the bank because the borrower has failed to repay them on time. Gross NPA is [...]

The SVB Bank’s fall and its impact on Indian Banks Silicon Valley Bank Collapse Startup-focused lender SVB Financial Group on March 10 became the largest bank to fail since the 2008 financial crisis, in a collapse that roiled global markets.   U.S. authorities launched emergency measures on Sunday to shore up confidence in the banking [...]

Balance in a Home Loan can be transferred from one bank to another which is well known to all of us.  Let us understand some pros and cons of shifting your home loan to a bank that is offering a lower interest rate. Should you go for a Home Loan balance transfer?

POS Terminals and the Future of Digital Payments

Online Payment System between India and Singapore The launch of online payment system UPI-PayNow, a linkage between Singapore and India, was launched by RBI Governor Shaktikanta Das and Monetary Authority of Singapore MD Ravi Menon.   The linkage of the payment systems would enable residents of both countries in faster and cost-efficient transfer of cross-border [...]

How NPCI Made UPI so Simple

Data Protection and Privacy When you think about it, the most valuable thing on your computer or network is the data you create.  Operating systems and applications can always be reinstalled, but user-created data is unique and if lost, may be irreplaceable. Some data is confidential and exposure of your social security number, credit card, [...]

Micro Finace should be incentivised

Savings to last a life time

Savings to last a life time

Privatization and Debts on Banks' Radars Banks were challenged in 2022 by the sluggish growth in deposits, which have not kept pace with credit. One reason is that deposits, unlike debt mutual funds, do not offer any tax breaks.  Here is an excerpt of the article on this subject.    Public sector banks (PSBs) are [...]

HDFC's twin merger

NBFCs and Economic Activity

RBI to raise Rs. 16,000 Crores via Sovereign Green bonds

NBFCs and Economic Activity

Banks advised to orient to Green Finance MNRE or Ministry of New and Renewable Energy is a ministry of the Government of India, which is engaged in research and development, intellectual property protection, and international cooperation, promotion, and coordination in renewable energy sources such as wind power, small hydro, biogas, and solar power. The broad aim of the ministry is to develop and deploy new and [...]

Small Finance Banks Deposit rates

“Buy now pay later” is the dictum for the Credit Card users.  There was a huge fall in Credit Card spends during Cororna period, which however could pick up after the Corona Wave.  However, for the first time, there is a fall in Credit Card spends in the past six months, which is explained herein. [...]

Decision on Privatisation of PSBs after consultation

SLICE receives PPI licence from RBI

Fintech initiatives have brought many changes in the Digital Industry.  Here is an article about Card Fintech Company SLICE has received a prepaid Payment Instrument (PPI) licence from Reserve Bank of India.  This initiative came after RBI barred prepaid cards from being loaded with credit lines. SLICE receives PPI licence from RBI **Courtesy: Economic Times [...]

Urban cooperative banks are localised financial service providers who operate in our country for more than a century. They cater to the lower middle class and people with limited resources, as well as self-employed and micro-enterprises.  Here is a latest guideline issued by RBI governing the Urban Cooperative Banks.

NPCI has proposal to cap the total volume of UPI-based transactions processed by all third party app providers (TPAP) to 30% of the total volume of transactions processed by UPI in the preceding three months, on a rolling basis. For example, if the average number of UPI transactions for January, February and March is 300, [...]

Asset Reconstruction Company (ARC) is a specialized financial institution that buys the Non-Performing Assets (NPAs) from banks and financial institutions. It helps banks in cleaning up their balance sheets by buying their bad loans Bad loan = NPA (Non-Performing Asset). ARCs clean up the balance sheets of banks when the latter sells these assets to [...]

SEBI has come out with norms on insider trading targeting mainly the mutual funds portfolios, Fund Managers and Executives in possession of price sensitive details.

The challenges that has arisen globally has compelled RBI to hike Repo rate by 50 BPS which is raised from 5.40 percent to 5.90 percent.  Global factors quoted are – Covid 19 and Ukraine issues and domestic factors are – Inflation and price stability leading to overall growth.  Here is an article on the increase.

Account aggregator is adata empowerment platform, which is expected to revolutionise credit, insurance and investment by making it a lot more effective and efficient reducing information asymmetry.   What are the key notes of an AA platform? AA , otherwise termed as financial data aggregation, lists all or most of the account holder's financial information in [...]

The new policy of settlement of overseas trade in the local currency, has been welcomed by serveral sections of Trade community in the country.  The plan now makes Importers buy goods from abroad and make payment in Indian Rupee, which inturn would be credited to the special account of the correspondent bank of the partner [...]

Privatization of PSU banks is on the cards.  Whether it is correct to permit major business houses to bid for Public Sector Banks?  Here is an article which details on this.

The threshold of 10% shareholding cap for individuals in Public Sector Banks (PSBs) is being removed which means that Private Equity (PE) firms will now be able to pick up stakes in PSBs on the block for privatization.  The Government proposes to make these changes through Banks Laws (Amendment) bill that seeks to bring changes [...]

Gold Loan focused non-banking financial company (NBFC) Muthoot Finance said it has received an approval from Reserve Bank of India (RBI) to open additional 150 branches across the country. The new branches will be opened across southern and northers parts of the country the statement released revealed.

Political nexus is quoted to be the reason in allowing Coo-opertive banks to lend Housing Loans and for Developer Loans.  Further, the delinquency rates is expected to go high through such exposures.  Here is an article which suggests that Small Finance Banks, in partnership with Urban Co-operative Banks if permitted to extend Housing Loans would [...]

Mr. R Subramania Kumar has been appointed as the new MD and CEO of RBL Bank which is troubled waters.  The new MD and CEO adds that the bank has no proposal to make any corrections to the balance sheet and that the commanding areas of the bank would continue as it is.  He adds [...]

Reserve Bank of India has recently hiked its REPO Rates. The MPC unanimously voted to increase the policy repo rate by 50 basis points to 4.90%.  After enjoying decadal low interest rates, borrowers will now have to brace for continuous interest rate hikes on their loans. This is because the Reserve Bank of India (RBI) [...]

Recently, several fraud cases have come to light where fraudulent loan accounts have been created through identity theft. Many individuals have raised concerns over new loan accounts reflecting in their credit report, which they never applied for or took. According to media reports, PAN details of individuals have been used by fraudsters to take personal loans. [...]

The author of this article feels that investors should constantly track their invested stocks and sectors to have an edge over the market. AXIS MUTUAL FUND has terminated the services of Viresh Joshi who was with the AMC for over a decade and served as a Chief Dealer and a Fund Manager. Axis AMC initiated [...]

Rights of a Nominee Vs. Legal Heirs 1 Rights Of Nominee v/s Rights Of Legal Heirs – Property In A Housing Society 24 January 2020 by (Nohid Nooreyezdan , Alpesh Parekh and Sharul Jain: AZB & Partners) =================================================================== The rights and position of a nominee has been of significant interest and debate for sometime now. [...]

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I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. If you thought that your nominee will get all your assets and money easily and legally after you have left this world, then think again. Synopsis [...]

TransUnion CIBIL study reveals that over 16 crore Indians are considered to be credit underserved by the end of 2021 and half of the adult population was unserved. Of the 81.4 crore credit eligible population in the country, 40.8 crore or nearly 50 per cent was credit unserved while 16.4 crore or 20 per cent was credit underserved, according to the report. “Empowering Credit Inclusion: A Deeper Perspective on Credit Underserved and Unserved Consumers. According to the TransUnion CIBIL study, there has been a significant increase in credit served consumers, from 9.1 crore in 2017 to 17.9 crore in 2021. This [...]

Reliance Asset Reconstruction company has started acquiring distressed loans from banks even as its parent company Reliance Capital is undergoing an insolvency proceeding as per information available. Reliance ARC acquired stressed loan portfolios from Jana Small Finance Bank and Indian Overseas Bank in the last week of March this year. Both these deals are said [...]

State Bank of India, and someother large banks have started incresing their benchmark lending rate which is otherwise termed as MCLR (Marginal cost of diunds based lending rate) which would result in customers paying more interest on their housing, auto and other retail loans. To quote: SBI increased its MCLR by 10 basis points wef [...]

Through recapitalization (recap) bonds, Public sector banks (PSBs) had received capital which might take a hit of around Rs 13,000 crore since the Reserve Bank of India's (RBI's) has advised to recognise these bonds at market value, as per ICRA report. Despite the discounting of bonds by 44-45 per cent, the PSBs will continue to [...]

HDFC Bank on Monday said its board has approved the amalgamation of HDFC Investments and HDFC Holdings with HDFC and that of HDFC into HDFC Bank. Here are the salient features of the scheme. As part of the merger between HDFC and HDFC Bank, 42 shares of HDFC Bank would be given for every 25 [...]

Regulators are those who are vested with the authority of regulating as well developing the financial sector in the country.  Their main function is to regulate the financial system in the country.   Also, these institutions are looked upon when it comes to safeguarding the best interest of the depositors/savers of money.   Here are some of [...]

Bankers have decided to refer Future Retail Ltd (FRL) to the National Company Law Tribunal (NCLT) for insolvency proceedings over recovery of dues which could further stall the sale of retail assets to a unit of Reliance Industries Ltd (RIL). Further the lenders have invited financial and technical bids from insolvency professionals (IPs) by March [...]

The Finance Ministry on Tuesday confirmed in the Rajya Sabha that banks got over two third of amounts defrauded by Vijay Mallya, Nirav Modi and Mehul Choksi. In a written reply, Minister of State for Finance Pankaj Chaudhary said the three had defrauded public sector banks by siphoning off funds through their companies which resulted in a total loss of ₹ 22,585.83 crore to the lenders. Further Details are as under: As on March 15, assets worth ₹19,111.20 crore have been attached under the provisions of PMLA (Prevention of Money Laundering Act). Out of this, assets worth ₹15,113.91 crore have been restituted to Public sector banks. In addition, assets worth ₹06crore have been confiscated to Government of India. As on 15th March 2022, 84.61 per cent of the total defrauded funds [...]

An ETF, or exchange-traded fund, is an investment security that conglomerates some of the attributes of stocks as well as Mutual Funds. Similar to that of stocks, ETFs trade intra-day on an exchange.  Also like with mutual funds, many ETFs seek to track the performance of a benchmark index, such as the S&P 500. These days [...]

Banks use Certificate of Deposits to raise bulk funds from high net worth and institutional investors, which in other terms shows that there is rising demand for bank funds, due to an upward trend in economy’s growth.  Here is an article which details the outstanding of CDs at Rs. 1 lac crore.Banks use Certificate of [...]

The Kremlin is scrambling to stave off a run on Russian banks after Western nations announced a barrage of punishing sanctions. Russia's central bank was also reportedly bringing in new measures to prevent a sell-off of Russian securities. According to Reuters, central bank documents showed that it had ordered market players to reject foreign clients' [...]

India not only has the highest number of commercial bank branches in the world, the number of bank branches in rural and urban areas is almost equal After the demonetisation of Rs 500 and Rs 1000 notes, the country's banking system is going through the ultimate stress test. With long queues and bankers working overtime, [...]

What is ABG Shipyard fraud? ABG Shipyard, now credited with India's biggest bank fraud, created a web of transactions to cheat a consortium of 28 banks of Rs 22,842 crores between 2012 and 2017, in a case which has come to light only now. The banks include State Bank of India (SBI), IDBI and ICICI.   The [...]

The Reserve Bank of India (RBI) has cancelled the certificate of registration issued to  PC Financial Services Pvt Ltd, according to an official statement. "In exercise of the powers conferred under Section 45-IA (6) (iv) of the Reserve Bank of India Act, 1934, the Reserve Bank has cancelled the Certificate of Registration (CoR) issued to [...]

If someone had earlier said that one can get education in the comfort of their homes, irrespective of the geographical distance between the teacher and students, she would have either been mocked at for wishful thinking or be cursed for using ‘comfort’ and ‘education’ in the same sentence. Yet the present stands before us, telling [...]

The term negative interest rate means INTEREST PAID TO BORROWERS RATHAN TO THE LENDERS.  For example, RBI charges commercial banks  on their reserves in terms of non-traditional expansionary monetary policy, instead of crediting them.  This is an unusual scenario which normally occurs during deep economic crisis like recession when all efforts through monetary policies of [...]

·         Former RBI Governor Urjit Patel has been appointed as a Vice President of the Beijing-based multilateral funding institution AIIB, according to sources in the bank on Sunday. India is a founding member of the Asian Infrastructure Investment Bank (AIIB) with the second-highest voting share after China. It is headed by the former Chinese vice-minister for finance [...]

RBI proposes new norms for classification of banks' investment portfolio The Reserve Bank of India (RBI) on Friday proposed new norms for the classification and valuation of the investment portfolio of banks, with a view to align them with the global prudential framework and accounting standards. ADVERTISING According to the proposed norms, the investment portfolio [...]

“Doorstep banking – Free 1 transaction per quarter* till 31stMar’22! Why visit the branch, when the branch is ready to come to you! is an SMS that HDFC Bank has been sending its senior citizen customers. You can now request for cash pickup , Cash drop (Min &max. amount being 5K-25K or cheque pick up [...]

In terms of the scheme of amalgamation of PMC Bank with Unity Small Finance Bank (Unity SFB), the Depositors of the scam-hit Punjab and Maharashtra Co-operative (PMC) Bank with deposits over ₹5 lakh will get their money back in a piecemeal manner over an extended 10-year period. Further, no further interest will be payable on [...]

It is well known that portfolio allocation to multiple asset classes like equity, debt, gold and others cannot be over-emphasised and there is wide fluctuation in returns, every year, in the various asset categories like domestic equity, international equity, gold, and to a lesser extent in debt. In certain years, equity gives phenomenal returns and, [...]

The Union Government has announced that Joint bank account is not mandatory for spouse pension, which is made to ease out the hurdles for all sections of society including retirees and pensioners. The new clarification adds that in case the head of office is satisfied that it is not possible for the retiring government servant [...]

Monday the Reserve Bank of India has placed in public domain a draft scheme of amalgamation of The Punjab and Maharashtra Cooperative (PMC) Bank with Unity Small Finance Bank Ltd. (USFB), a banking company incorporated in India under Companies Act, 2013, and having its Registered Office in New Delhi. USFB has commenced operations with effect [...]

The Reserve Bank of India (RBI), in an advisory to the members of the public, said co-operative societies have neither been issued any license under Banking Regulation (BR) Act, 1949 nor are they authorized for doing banking business. Further, insurance cover from the Deposit Insurance and Credit Guarantee Corporation (DICGC) is also not available for [...]

Inflows in the mutual fund industry through systematic investment plans or SIPs reached close to Rs 67,000 crore in the first seven months of the ongoing fiscal, suggesting the growing popularity of the route for investment among retail investors. This comes following an inflow of Rs 96,080 crore through the route in 2020-21, data with [...]

With high expectations on the economic growth, banks and non-banking finance companies (NBFCs) have stormed up on their hiring plans with an increase of as high as 30-35% in recruitments from a year earlier, especially of those on the technology side of the business. Private lender HDFC Bank, which aims to reach 200,000 villages in [...]

State Bank clerical selection Link

PSU banks want RBI to regulate India Debt Resolution Company Ltd (IDRCL), and feel that transparency of process and incentives would do a better job.  Here is an article which explains this.

The finance ministry on Wednesday appointed veteran banker K.V. Kamath as the chairman of the newly constituted development finance institution National Bank for Financing Infrastructure and Development (NaBFID).  The Department of Financial Services in the Finance Ministry in a tweet said: “New approach to building #AatmaNirbharBharat! Central government has appointed Shri K.V. Kamath to the post [...]

Courtesy: Financial Express dt 25th Oct 2021

There is huge demand for Credit Cards and the market is going high in the recent days. Meanwhile, many banks which include HDFC Bank and Kotak Mahindra Bank are keen in acquiring Citi’s credit card division in India. It is learnt that around 5­6 banks are in the fray to bid for Citi’s Card business in India which include HDFC Bank, ICICI Bank, Kotak Mahindra Banl and DBS India. Many Indian lenders are looking to scale up their credit card business and Citi high quality customer portfolio will be a useful addition. Opportunities Brokerage firmJefferies had [...]

Courtesy: Economic Times dt 25th Oct 2021

Certain actions of the Regulator though not unintentional end up with a different result.  Here is an article which narrates it more. Many well-intentioned steps taken by regulators in the past are creating headaches on multiple fronts due to the unintended consequences of specific measures. Although welcome, the new Regulations Review Authority 2.0 (RRA) set [...]

Equitas Small Finance Bank (SFB) is going to raise around Rs 1,000 crore in the equity capital through issue of shares to institutional investors which inturn will meet their minimum public shareholding (MPS) norms. This amount which is being raised includes a premium on shares. The bank’s board has cleared this and this will satisfy the [...]

Limited liability partnerships (LLPs) allow for a partnership structure where each partner's liabilities are limited to the amount they put into the business. ... Limited liability means that if the partnership fails, then creditors cannot go after a partner's personal assets or income.   Government has plans to make LLP ownership transparent this month.  Here is an [...]

Click Here - BANKING AND SSC OCT 2021

Courtesy : Business Line dt 25 Sept 21

Courtesy: Business Lines dt 25 Sept 21

Frauds are on the increase these days and it is necessary that we should try to protect ourselves from possible financial frauds.  Here is an article which explains about the steps and the basics to be followed.

It is interesting to note that banks have started partnering with others for issue of Credit Cards.  If a bank has a co-branded credit card, it leads to substantial growth in customer loyalty.  The probability of our existing customers turning to our competitors is avoided, since they are aware that they can get better benefits [...]

Card Tokenisation is now ready and banks inform that it will not impact customers.  While lenders expect it be a smooth transition, thee is expected to be some initial friction since consumers and merchants shift to the new system.   This move by Reserve Bank of India us expected to enhance card security framework for digital [...]

Pradhan Mantri Jan Dhan Yojana is a financial inclusion program of the Government of India open to Indian citizens, that aims to expand affordable access to financial services such as bank accounts, remittances, credit, insurance and pensions. All Indian nationals are eligible to apply for the Jan Dhan Yojana scheme. Any form of identity proof that [...]

The Finance Minister Nirmala Sitharaman today launched the EASE 4.0 - Enhanced Access and Service Excellence - a common reforms agenda for Public Sector Banks (PSBs) for the financial year 2021-22 which is  aimed at institutionalising clean and smart banking. Co-lending with nonbanking finance companies (NBFCs), digital, agriculture financing, and technological resilience for 24x7 banking [...]

The Finance Minister Nirmala Sitharaman today launched the EASE 4.0 - Enhanced Access and Service Excellence - a common reforms agenda for Public Sector Banks (PSBs) for the financial year 2021-22. The reforms agenda is aimed at institutionalising clean and smart banking. The first edition of EASE 1.0 was launched in January 2018, while EASE [...]

RBI had banned HDFC Bank from issuing fresh Credit cards on December 3rd last year and introducing new digital products after several people reported technical glitches in the past two years. However, the ban was lifted on 17th August 2021 which has boosted the bank’s confidence. The bank has now readies to issue fresh credit [...]

Mr. Sameer Shetty, President and Head (Digital Business and Transformation) in an interview reveals as to how they are planning to make their front end desk personnel more efficient.   Various changes including Customer app being personalized and refreshed to give a different look are on their cards. They have moved to the digital arena with [...]

Bharat Billpay an initiative of National Payments Corporation of India gets a new CEO.  Ms. Noopur Chaturvedit is the new CEO of BBP. Here is an article on this. **Courtesy: Mint dt 13th Aug 2021

Here are few tips, which provide few tips as to how to gain higher return with lower exit loads in Mutual Funds. What is suggested is that you go for no-load funds wherein a sales force or a distributor is not used. It was an overall opinion that load funds would cease to exist since [...]

cKYC What is cKYC? cKYC stands for Central KYC which is a centralised repository which allows storage of personal information of the customer centrally. Earlier, when a customer went to a financial institution for buying any product, KYC (Know Your Customer) was needed to be done each time for each product and with each institution [...]

We might recall that Reserve bank of India had issued instructions that entities holding a Cash Credit or Overdraft accounts should not simultaneously be permitted to have a Current Account also which paves way for diversion of funds.  The deadline for compliance was till July 2021 for due compliance and this compelled the banks to [...]

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The Government has planned to wait till completion of its stake sale in IDBI Bank and watch investor response before going ahead with the privatization of other state=run lenders. The response and other challenges will be formulated for further privatization in the financial sector, as per reports received. Currently the Government is in the process [...]

Mint Mumbai 30.6.2021

Courtesy Hindustan Times dt 28June 21

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The Government has begun the process of selling its stake in IDBI Bank.  The Department of Investment and Public Asset Management has issued a request for proposal for a transaction adviser to advise it on the proposed sale of government stake and also transfer of management control in IDBI Bank. Several Criteria have been brought [...]

Courtesy: Financial Express dt 17th June 2021

The Reserve Bank of India (RBI)  today (10.06.2021) allowed an increase in the interchange fee structure for ATM transactions considering the increasing cost of Automated Teller Machines (ATM) deployment and expenses towards ATM maintenance incurred by the banks and white label ATM operators. The last change in interchange fee structure for ATM transactions was in [...]

The Regulator, Reserve Bank of India has proposed a swing of measures to protect micro-finance borrowers from over-indebtedness in order to enable competitive forces to bring down the interest rates. In a consultative document released, RBI has proposed to remove the ceiling on interest rates for micro-finance lenders, among other key measures. Currently, the margins [...]

A flexible re-structuring of all categories of borrowers up to two years is the request from all banks, Non-banking financial companies (NBFCs) and Small Finance Banks (SFBs) to Reserve Bank of India.  This has been prompted due to the current Second Wave of the Pandemic which is daunting the country.

Industry bodies are now planning to petition the regulator Reserve Bank of India to ease the norms and delay their implementation on Auditor appointments at least to next year. The Reserve Bank of India (RBI) has informed that banks and NBFCs cannot continue with the same auditor beyond three years down from four years earlier [...]

**Courtesy: Business Standard dt 1st May 2021

Acid Test has been put to Bank Assets again.  Here is an article which describes the fall in the collection ratio of bank loans as also the decrease in the business. **Source: Economic Times dt 26th Apr 2021

Indian banks classified ₹28,784 crore of loans as wilful defaults in the April-December period of 2020, when the coronavirus pandemic swept across India, up from ₹23,783 crore a year ago. A bank can label a borrower as a wilful defaulter if a loan is not repaid despite having the means to repay, and also when [...]

Courtesy: Mint date 20th April 2021

NPCI (National Payments Corporation of India) is like to permanently ban all gaming transactions valued below Rs. 50 on its Unified Payments Interface (UPI) channel beginning this week end as per news available. The proposal is aimed to moderate transaction volumes especially during peak periods of activity like ongoing Indian Premier League (IPL) cricket. A [...]

Recurring payments like Loan instalments, Insurance Premiums etc has shown fewer defaults in March this year. A data released by National Payments Corporation of India reveals that 32.76% of all auto-debit transactions in terms of volume failed in March when compared to 36.6% in February 2021. In other words, out of 92.04 million transactions initiated, [...]

The foreign trade policy which expired in March 2020 was extended due to the recent COVID 19 pandemic till March 2021.  Now the new policy is expected to come up with high hopes that it may open up an avenue for MSMEs with a historic trade opportunity. Indeed it is going to be a real [...]

Recently the Supreme Court vacated the relief granted earlier to not declare the accounts of respective borrowers as non-performing assets stands vacated.  This has now brought an end to the blanket ban on classification of non-performing assets (NPAs).  It however added that there shall be no order as to costs.  Here is an article which gives the details as to the repercussions [...]

Bankedge Cash Image It is obvious that people now-a-days prefer to get most of their work done from the safety of their homes avoiding any personal contact with outsiders due to the fear of the deadly coronavirus. However, sometimes personal visits may be unavoidable, like in the case of bank-related work to get passbook updated [...]

There is absolutely no doubt that India is reaching its milestone in achieving a great success in the Digital Payments path.  Through RBI’s Digital Payments Index launched, this has proved to be more and more effective. Also there is an increase in the FASTags payments and FASTags registered record high payments with transactions worth Rs. [...]

Axis Bank has closed its branches in Shanghai and Colombo last month and now it is in the process of winding up its Hong Kong branch.  Also plans are there to surrender UK branch subsidiary license and close operations by April 2021. They plan to close down the overseas branches where they don’t foresee any [...]

In order to help the Small Business personnel, the Insolvency and Bankruptcy Code (IBC) was amended.  Accordingly, no fresh insolvency proceedings could be filed for a period of six months starting 25 March 2020. This was extended by another three months in November.  The IBC has several protective provisions that aid in the functioning of [...]

Bank fixed deposit interest rates have come down by a lot in the past couple of months. Amid falling rates, mnow any banks are offering over 7% interest rate on the savings account. Lenders like IDFC First Bank, Bandhan Bank and small finance banks like Equitas and Utkarsh offer better interest rates on savings account [...]

Working from home could become a permanent feature for some job profiles, with location constraints no longer a problem, as executives at leading companies said it improved productivity during the ongoing pandemic. “Remote working is shaping up well and has brought many people into the workforce who were earlier hampered by personal commitments,” the Economic Times quoted [...]

Many are worried that the assets they invested are under performing. How to Invest Smart?  Here are some suggestions…

The Reserve Bank had issued the Guidelines for Licensing of “Small Finance Banks” in the Private Sector on November 27, 2014. The process of licensing culminated in granting in-principle approval to ten applicants and they have since established the banks. It was notified in these Guidelines that after gaining experience in dealing with these banks, the [...]

Credit card inquiries in Oct surpass year-ago figures Banks’ requests for information on credit card borrowers or ‘credit card inquiries’ in October this year, surpassed the same in the year-ago period, a credit information company said on Monday. This phenomenon suggests consumer economic activity has materially improved since the easing of covid-19 lock-down measures, Transunion [...]

Digital payments in high in November this year showed an increase, with sustained growth in transactions through Unified Payments Interface and Immediate Payment Service.  Payments through UPI remained well above 200 crore mark as per NPCI data. Around 221 crore transactions worth Rs. 3.9 lakh crore were processed on BHIM UPI in November as compared [...]

RBI has given a decision on withdrawal of Tier-2 Debt worth Rs. 320 crores of LVB Bondholders consequent upon the merger of Lakshmi Vilas Bank with DBS India. LVB bondholders questions the Reserve Bank of India move to write off tier-2 debt worth Rs. 320 crores they hold as part of the rescue by DBS [...]

Lakshmi Vilas Bank which has been merged with DBS India had Continuously incurred a loss since the quarter ended 2018, and thus eroded its net worth. The bank was in breach of the prompt corrective action (PCA) threshold for all the indicators viz Capital, asset quality, profitability and leverage before the merger Basel III compliant [...]

The cabinet approved the amalgamation of Lakshmi Vilas Bank (LVB) with the Indian arm of DBS Bank. RBI informs that the moratorium on the crisis-ridden bank will be lifted since the merger is slated to take effect on November 27, 2020 which is well before the originally scheduled date of 17th December 2020. Accordingly the [...]

As the economy starts showing some promising signs, companies are looking to hire employees they had laid off barely seven months agao.

There is a wide discussion amongst policymakers to open up the banking sector via easing norms for corporate and foreign bank participation in acquiring public sector banks that the central Government is looking to privatise, sources with knowledge of the matter told ET Now. Presently, industrial houses that have less than 60% of their turn [...]

What does the merger of LVB with DBS Bank (Indian Operations) mean? This will obviously help the latter expand its footprint in the country. Though DBS is present in India for over 26 years, as a subsidiary of the main DBS Bank in Singapore in our country, the bank has had a largely limited presence. [...]

When you compare the ELSS and PPF, ELSS (Equity Linked Savings Scheme) has a shorter lock-in period than the public provident fund (PPF).  Hence there is a preference for ELSS as a tax-saving investment. Upside versus downside In general, it is advocated that your goal-based investments should have a lock-in period! Why? We typically lack [...]

ICICI Bank informs that there is a ‘record’ increase in its home loan portfolio in September and October with people rushing to buy homes at lower prices and at low-interest rates. It added that it had seen more demand coming from places other than the top eight cities. Loans in the range of ₹30­ ₹35 lakh were in demand with the salaried class, given that stable income had been taking the plunge. In a statement on Wednesday, the bank also said it had crossed the milestone of ₹2 lakh crore in its mortgage loan portfolio, making it the first Private Sector bank in the country to do so. The first milestone of ₹1 lakh crore was achieved in the year 2016. Anup Bagchi, executive director, ICICI Bank, said, “The next milestone of ₹3 trillion will be achieved in less than 4 years.” Also, Mr. Bagchi added that the bank had expanded its footprint and was now “present in 1,100 locations, including tier 2, 3 and 4 cities [and] fast­-growing [...]

Reserve Bank of India, has permitted the loan borrowers to avail the loan restructuring option.  Here a question arises as to whether one should opt for loan restructuring or not and what are the consequences.  The implications are: The delayed payment would mean extension of the loan period and thereby availing fresh loan would again [...]

It is true that banks have started showing signs of improvement in their recoveries.  This is evident from the increase in their Net interest income in the September quarter due to falling interest expenses. Also provisioning to coer the potential Covide-19 impact has also come down in the September quarter, which can be seen through [...]

Banks are putting their best efforts and thus have come forward in offering fee discounts, lower interest rates and a promise in processing the loan quickly.  The low turnover in the loan growth has compelled these banks which is languishing due to the current pandemic situation. Big lenders like State Bank of India, HDFC Bank [...]

ARCs cannot infuse equity in an insolvent company at the resolution stage. This has brought inturn a conflict between Insolvency and Bankruptcy Code (IBC)Rand Sarfaesi Act on whether an ARC can bid for bankrupt firms or not. Hence there are proposals to amend the Sarfaesi Act suitably so that ARCs can also act as RAs [...]

Media reports are indicating with reports that there is going to be a steep increase in service charges by few Public Sector Banks (PSBs).  It may be noted that charges on deposits and withdrawals of funds by some banks will not be applicable to the Jan Dhan accounts and basic savings bank accounts. The government [...]

What is e-Invoicing? Electronic invoicing (e-Invoicing) is the exchange of the invoice document between a supplier and a buyer in an integrated electronic format. Traditionally, invoicing, like any heavily paper-based process, is manually intensive and is prone to human error resulting in increased costs and processing lifecycles for companies. Since this allows for a number [...]

NPCI which developed the UPI is now looking forward for export opportunities.   Building international solutions would test NPCI’s capabilities as India’s underlying digital infrastructure through the UPI and Aadhar enabled payment system is essential since they are effective and difficult to replicate.  Here is an article about NPCI’s new initiative.

The chances of rising stress among non-banking financial companies has set the stage for a string of portfolio buyouts. We find that many of the Non-Banking financial companies (NBFCs) are looking at an outright portfolio sale for funding. We observe there is reluctance from Bankers side to lend, and particularly private banks. We observe that [...]

Due to the difficulties being faced by the senior customers, many banks have launched special FD schemes with higher interest rates as compared to that offered to regular customers For senior citizens, fixed deposit (FD) is one of the most common financial instruments to invest their money.  All major banks like State Bank of India (SBI), [...]

No doubt, bank fixed deposits (FDs) are one of the safest and most preferred investment options available to Indians, especially senior citizens as they don’t like to take an unnecessary risk. Here the return earned is fixed and known at the time of investing, unlike equities. The minimum and maximum tenure offered for which an [...]

Building a portfolio is a complex exercise. It is equally important to maintain the portfolio built. A person’s portfolio holds different types of assets based on his/her financial goals Each asset class gives different types of returns. Hence, a portfolio must have an ideal mix of financial products. Also, one must keep in mind the [...]

Experts opine that the best way to neutralise the higher interest burden arising out of the moratorium will be to pre-pay the loan. If possible, borrowers must use the bounce-back method to repay their loan The Centre in its October 2 affidavit agreed to waive interest on interest on loans up to Rs 2 crore [...]

The appointments committee of the Union cabinet on Wednesday appointed J. Venkatramu as the managing director and chief executive officer of India Post Payments Bank (IPPB). Venkatramu has over 22 years of work experience behind him across various segments of banking services, such as payments, mobile banking and retail banking products. He has also managed [...]

Friends, I want to share with you all something interesting. During one of my pre-placement sessions, an enthusiastic youngster from the audience raised a question: “Sir, after my MBA, I want to join a Bank. But, banks are steadily decreasing their intake of people since they are becoming increasingly digital. Hence, I am afraid, my [...]

Due to the recent digital mode activities, the banks are aiming to increase the customer service points to over 75,000 which is around 64,000 now.  Thus, a non-branch model is becoming more popular. It is learnt that there are over 1.1 million business correspondents employed by banks and corporate agents who are classified as Public [...]

By dividing 72 by the annual rate of return, investors can obtain a rough estimate of how many years it will take for their initial investment to duplicate itself. New Delhi: As the cost of living is going up, people are looking to invest in instruments that will offer good returns and help their wealth [...]

Welcome to the World of Doorstep Banking Public Sector Banks Alliance - Doorstep Banking Services have been launched from 09.09.2020 at 100 identified centres pan India (list enclosed). Now you can avail basic banking services, at a small charge, from the comfort of your home. The following services are available under PSB Alliance DSB. 1. [...]

From 1st October 2020 onwards, many rules are changing which will impact your personal finances and life in general. Some of the key changes are: Motor vehicle rules, Ujjwala scheme, Health insurance, RBI credit and debit card rules. Here's what is going to change from October 1: 1. No physical verification of Driving licence and [...]

Let the Bank Customers beware of… suspicious WhatsApp calls and messages that might trick them in to share their banking details. Customers are now being targeted on WhatsApp.  Thus, cybercriminals fool you! Please be aware and stay vigilant. With the rise in digital payments, online banking frauds have also increased. Cybercriminals are now targeting people [...]

The loss-making Lakshmi Vilas Bank (LVB) said it will continue its evaluation process for an amalgamation of Clix Group with it. The bank authorities also added that mutual due diligence is substantially complete and the bank is now in a crisis after shareholders blocked the appointment or re-appointment of seven directors to the board which [...]

Some experts believe that the pandemic and economic recession may not dent the wallets of top CEOs as organisations want to retain high-quality critical talent in the driver’s seat. When the Centre announced nationwide lockdown in the second half of March 2020 to control the spread of the deadly coronavirus, sales and profitability of companies [...]

The Public Sector Banks are now seeing faster pick up in retail credit inquiries than their Private Counterparts on quicker reopening of branch network as per a report from CIC (Credit Information Company). In-spite of the inroads done by digital alternatives, branch offices continue to play an important role as per report. However, Private Sector [...]

Most of the Indian families keep gold idle at home. Although the value of gold appreciates with time, keeping gold idle at home comes at a cost. You have to pay locker fees to store your gold safely otherwise you may compromise its safety at home. But you have the option to earn interest on your idle gold [...]

It is customary that the Banks Board Bureau (BBB) recommends on the basis of Government instructions, the names of senior personnel, for the posts of Executive Directors,  after duly interviewing.  Here is the list of such names recommended by the Board.

There’s relief in sight for pandemic-hit retail borrowers struggling to make EMI payments.  Banks have started offering relief packages to borrowers under the RBI’s Resolution Framework for Covid19 related Stress.  As the six-month moratorium offered to all borrowers came to an end on August 31, the RBI allowed banks to open a onetime restricting window [...]

Now small banks, new banks, and some NBFCs offer higher interest rates on FDs to customers as compared to other top banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, etc. to name a few. The State Bank of India (SBI), the largest bank in India, is only worth one-third of HDFC Bank, [...]

Few of the Credit card companies are incentivizing those willing to pay their dues following the repayment moratorium.  Some companies have increased penalties for errant customers in a move to check defaults.  Let us see more details hereunder: India’s largest credit card company, SBI Cards, is encouraging customers to avail of its own repayment plan [...]

Here is statistics on Urban and Multi-State Co-operative Banks in India. There are 1,482 urban and 58 multi-state co-operative banks in the country with 8.60 crore depositors, having total savings of close to Rs 5 lakh crore. Out of this, as many as 277 urban co-operative banks (close to a fifth of the total UCBs) [...]

Internet banking apps are designed to be secure and user friendly, but if you fail to understand its intricacies, you might find yourself falling victim to a fraud. With the COVID-19 pandemic disrupting in-branch banking, banks’ apps have seen a huge increase of new users. A case in point is the State Bank of India’s [...]

State Bank of India (SBI) is bringing out a digital platform for restructuring all retail loans, which allows the borrowers to submit recast requests on the portal and check eligibility criteria basis present and expected incomes. The portal is likely to be in place by September 24 this year. It will also suggest the moratorium period for which the customer will [...]

Every bank has a cap for transfer of funds online, and under Corona Virus, customers should run to banks if the threshold fixed by banks exceeds the amount required to be transferred. Banks fix the daily cap on transfer to avoid frauds.  However, for transfers via NEFT and RTGS, there is no cap on the [...]

Several Indian Financiers provide Home Loans these days.  Also, due to the current pandemic condition and the market’s docile condition, home loan rates have come down.  Under the circumstances, it is important for the borrowers, to decide as to whether they would prefer to go for Fixed Interest Rates or Floating Rates. It was widely [...]

Everyone is interested in buying a Car may it be to for a new one or for upgrading their existing car. Whatever is the reason, in today’s scenario there are several lenders who provide a Car Loan at ease.   These loans are repayable over a period of 3 to 5 years, however in some cases [...]

It is observed that Bharat has turned out to be the bright spot for banks, which showed double-­digit growth in both credit and deposits in the Rural Areas in the April­-June (or the first) quarter of 2020-­21 vis-­a-­vis year ago period. This growth came even as the larger economy contracted  23.9% in the first quarter as the COVID 19 lockdown had shut to kye economic engines viz Industry and Service Sectors. Agriculture was the sole bright spot. This is in turn reflected in the aggregate bank deposits and credit for [...]

Often people have a confusion as to whether an investment in Equity is better or should they go for Mutual Funds or rather directly invest in Stocks?   Here is an article which says that True Variety of assets which have low correlation help in true portfolio diversification.

The Government has advised the state run to statdy the insolvency cases which aslso require proceedings to be initiated against personal guarantors of Cororate Debots in the National Company Law Tribunal. The Government feels that this will ensure that banks are able to explore all possible avenues while realizing loans. Rules which empower creditors to [...]

What are Bundled Loans: Let us take an example and explain this. Recently, HDFC Bank investigated allegations that its executives forced car loan customers to purchase a vehicle tracking device. It was learnt that for four years, bank executives pushed auto loan customers to buy GPS devices costing ₹18,000-19,500. The cost of the equipment was added [...]

National Payment Corporation of India has advised Reserve Bank of India, that the messaging platform Whatsapp has met the data localization requirements.  Thus Whatsapp launching its payment services in India is not far off. An Affidavit was filed by RBI in the Supreme Court some time ago stating that NPCI had informed them in June [...]

Banks and NBFCs are facing a tough time, in recoveries of overdue during the current Pandemic daunting the country and the world.  Here is an article about how the recovery process has slowed down during the current situation.

Pandemic in the name of COVID 19 has made havoc in the entire global system and more so in the banking sector. Here, what the Indian Government has done at this stage is – merging banks on the basis of software they use, raising capital from market, Private sale and distress sale, which are some [...]

The largest bank, State Bank of India (SBI) as also other banks like Bank of Baroda and private lenders HDFC Bank, and ICICI Bank have now come out with a special fixed deposit (FD) scheme for senior citizens. Here, these banks offer extra interest rates over the existing rates applicable for senior citizen term deposits. [...]

The Open Credit Enablement Network (OCEN) which connects lenders with market place is expected to bring better transparency in the lending platform more so involving small borrowers.

Now-a-days many of us avoid going to an ATM to evade any risk since the COVID-19 infection is threatening us all over. It is quite obvious that at an ATM kiosk, you end up touching various surfaces, starting from the door knob to the keypad or the ATM screen itself. Banks are now realizing that [...]

Internet penetration has increased.  With everything now being digital, lenders are offering  various services to customers. Here are some areas wherein WhatsApp can help you with banking services too as several commercial banks across the country such as ICICI Bank, HDFC Bank, Kotak Mahindra Bank offer WhatsApp banking facility. Customers’ banking requests can be addressed [...]

Everybody is aware that Credit cards, debit cards, PAN card, membership cards are an integral part of one’s wallet, life nowadays. Now that PoS terminals are easily available at shops and cashless transactions, urbanites now heavily rely on credit cards and debit cards. If the wallet is lost or misplaced, there is a risk of [...]

Bank fixed deposit also known as term deposit is one of the most popular investment products in our country. It is preferred by investors of all ages to put their idle money and earn guaranteed returns. FDs kept in banks are safe and can be easily liquidated whenever needed. However, a premature withdrawal will attract [...]

The FRDI Bill launched wild rumours all over the country, sowing seeds of distrust among bank customers over a “bail-in” clause, which theoretically allowed beleaguered banks to scoop up depositors’ money to stop them from going bust. However the ill-conceived FRDI bill was withdrawn by the Government and now replaced the same by a new [...]

It is natural that one must think of his/her retirement and make plans accordingly.   Of course, it is frightening if no proper planning is made in advance.  It is obvious that your ability to earn money will reduce gradually and it is necessary that you make prudent and wise choices during your earning days to [...]

There is something alarming from the Asset side of the loan availed against property (termed as LAP). This inturn has created worries due to the thin margin on the securities available. Moreso, the widespread industry level assessment reveals that over 60% of LAP borrowers have applied for the six month moratorium support, which is a [...]

The time now has come to review the Capital Requirement of Public Sector Banks.  This is due to the high increase in the Bad loans in these banks.  The actual position would be known only when the moratorium on loans ends and the repayment commences in the loan accounts in a normal way. Hence, it [...]

Guru Purnima (Poornima) which is also known as Vyasa Purnima marks the birthday of Ved Vyasa. It is a day traditionally dedicated to all the spiritual and academic Gurus, who are evolved or enlightened humans, ready to share their wisdom with very little or no monetary expectation, based on Karma Yoga. It is celebrated as a festival in India, [...]

We have come across various relaxations provided by the Government, in view of coronavirus-induced lockdown.  Some of these concessions ended on 1st July 2020. These include a waiver of charges levied on ATM transactions, penalties for non-maintenance of minimum balance in savings account. . Relaxations on ATM withdrawal removed The government, on March 24, announced [...]

There was a decrease in the Bank Loans to individual customers under the portfolios viz Home Loans and Credit Card Loans, as also Loan against Fixed Deposits, by over Rs. 74,790 crore in the months of April and May 2020. Normally the first quarter of a year records a low figure, since Corporates tend to [...]

Capital markets are places where savings and investments are channelled between the suppliers who have capital and those who are in need of capital. The entities that have capital include retail and institutional investors while those who seek capital are businesses, governments, and people. The financial instruments used in capital markets include stocks and bonds, but the instruments used [...]

अगर आपने बैंक या पोस्ट ऑफिस में एफडी (Fixed Deposit) कराई है तो आपके लिए ये खबर पढ़ना बहुत जरूरी है. क्योंकि एफडी (Fixed Deposit) करवा चुके लोगों के लिए 15G और 15H फॉर्म जमा करना बहुत जरूरी है. अगर आप 30 जून तक ये फॉर्म जमा नहीं करते हैं तो आपके मुनाफे (ब्याज से आमदनी) पर TDS काट लिया जाएगा. आइये आपको बताते हैं इस फॉर्म से जुड़े सभी सवालों के जवाब.. बता दें कि लॉकडाउन (Lockdown) को देखते हुए CBDT ने फॉर्म 15G और फॉर्म 15H भरने की अंतिम तारीख बढ़ाकर 30 जून, 2020 कर दी थी. इन दोनों फॉर्म को टैक्सेशन से बचने के लिए वैसे टैक्सपेयर्स भरते हैं, जो टैक्स के दायरे में नहीं आते हैं. सवाल: आखिर क्यों जरूरी है 15G या फॉर्म 15H फॉर्म जमा करना? जवाब: जब किसी फाइनेंशियल ईयर में  एफडी पर ब्याज से होने वाली आमदनी एक निश्चित सीमा को पार कर जाती है तो बैंकों को टीडीएस (स्रोत पर कर में कटौती) करना अनिवार्य होता है. इसीलिए जमाकर्ता को फॉर्म 15G या फॉर्म 15H (वरिष्ठ नागरिकों के लिए) यह बताने के लिए स्व-घोषणा पत्र देता होता हैं और उसमें बताना होता है कि उनकी आय टैक्स योग्य सीमा से कम है. खाता धारकों द्वारा फॉर्म 15G और फॉर्म 15H (वरिष्ठ नागरिकों के लिए) यह सुनिश्चित करने के लिए प्रस्तुत किया जाता है कि उनकी आय पर टीडीएस नहीं काटा जाता है. फॉर्म 15G या 15H जमा कर आप ब्याज या किराये जैसी आमदनी पर TDS से बच सकते हैं. इन फॉर्म को बैंक, कॉरपोरेट बॉन्ड जारी करने वाली कंपनियों, पोस्ट ऑफिस या किराएदार इत्यादि को देना पड़ता है. ये भी पढ़ें:- 1 जुलाई से बदल जाएंगे आपके बैंक खाते से जुड़े ये 3 नियम, नहीं जानने पर होगा भारी नुकसान फॉर्म 15G का इस्तेमाल 60 साल से कम उम्र के भारतीय नागरिक, हिंदू अविभाजित परिवार यानी HUF या ट्रस्ट कर सकते हैं. इसी तरह फॉर्म 15H 60 साल से ज्यादा की उम्र के भारतीय नागरिकों के लिए होता है. 15G और 15H की वैधता केवल एक साल के लिए होती है. इन्हें हर साल जमा करने की जरूरत पड़ती है. सवाल: अगर बैंक टैक्स कट लेता है तो कैसे पाए पैसे वापस? जवाब: फॉर्म 15G या 15H के जमा करने में विलंब के कारण काटे गए अतिरिक्त TDS का रिफंड केवल इनकम टैक्स रिफंड फाइल कर ही लिया जा सकता है

Case Study: Pritam has executed a gift deed in favour of his son and his wife. In the gift deed, the first name is his son and the second name is his wife. The gift deed is unconditional. Moreover, the property in question is only a vacant plot of land. Discuss whether after the death [...]

The falling interest rates on fixed deposits (FDs) following the recent rate cuts by the Reserve Bank of India have made them an unattractive investment option for a majority of investors. In fact, lots of leading banks — including the SBI and HDFC are currently offering interest rates between 4 per cent and 6 per cent on their [...]

COVID-19-themed phishing emails targeted manufacturing, finance, transportation, pharmaceutical and cosmetic industries. Attacks on banking, defence and manufacturing sectors were also notably at large. As per PwC study, many Indian organizations saw a 100% increase in attacks between 17 and 20 February 2020. Also, there was a 66% increase in detections by endpoint security systems in [...]

It is well known that COVID-19 will lead to an increase in default of loans taken from banks and NBFCs. Both corporate and individual defaults are expected to increase in the months to come. However, these bad loans will not start piling immediately. Why are bad loans expected to go up? As Stephanie Kelton writes [...]

What happens if you pay only the minimum amount due? Credit card usage in India has increased swiftly, mostly in recent years, owing to online discounts, cash backs and rewards, along with the interest-free credit period. According to the Reserve Bank of India (RBI), the number of total outstanding credit cards at the end of […]

Suddenly over the past few months, there is so much talk about the Economy of the World shrinking; the GDPs degrowing and Earnings & Savings getting depleted. Alas - The invisible adversity, named COVID, has thrown light on how precariously we were living with finances. Overnight, there were lot of behavioural changes – What we [...]

After the COVID 19 issue came up there has been several complaints from the customers of Axis Bank, Kotak Bank, via Twitter about a sudden reduction on their credit card limit. Some complained that their limits in the Credit cards have been reduced by 80% over a period of one week. Some of them said [...]

Lakshmi Vilas Bank Ltd which in troubled waters, has now got a second shot at survival through a non-binding agreement with a private equity investor. Pramod Bhasin-promoted Clix Capital Services Pvt. Ltd and Clix Finance India Pvt. Ltd want to buy stake in the bank. Both these firms are held by a private equity firm AION Capital. [...]

The hot topic being discussed on the loans portfolio today is about a Home Loan, which happens to be the biggest loan that one could avail in his/her life time. One should also understand that the cheapest loan among available loans is the Home Loan, which is the easiest way to buy a house. In [...]

A spiritual connection to one’s own self is something possible in a total isolation.  Achieving this connection is ofcourse difficult, but once achieved, all other connections fade away.  A connection to one’s ownself means, a connection to one’s own knowledge.  A great refernce is made to this fact in the BHAGWAD GITA.  Here is the [...]

State Bank of India reduced its marginal cost of funds-based lending rate (MCLR) by 25 basis points (bps) for all Tenors Effective from 10 June, the one-year rate comes down to 7%. This is the bank’s thirteenth consecutive MCLR reduction. Interest rates have been falling for over a year now and the central bank recently [...]

Banks have now decided to come out with Contactless ATMs, in order to cut down more people touching the ATM machine. Here is an article which has appeared on this. This is a further development to the Cardless withdrawal apps using smartphones.

Talks on to privatise some state-run banks; Punjab & Sind Bank, Indian Overseas Bank among possible names The finance ministry has reportedly started a process to privatise one or more state-controlled banks in an earnest attempt to make them stronger. Plus, a select group of top government officials has already started talks on the proposal that [...]

COVID 19 has created Financial Crisis globally.  Ofcourse, RBI has permitted moratorium on Loans which means, the repayment of loans are now extended and the categorization of NPA is also deferred for loans portfolio of banks. Here is an interesting article which gives an option to choose between EMI and SIP installments, which should be [...]

What is a Debt Fund? A debt fund is an investment pool, such as a mutual fund or exchange-traded fund, in which Core holdings are fixed income investments. The fund may invest in short-term or long-term bonds, securitized products, money market instruments or floating rate debt. It refers to bonds or other debt instruments that will mature in more than one calendar or [...]

The new tax regime, which is applicable from April 1, 2020, is optional, anyone opting for the new tax regime will have to forego most of the deductions available under the income tax law such as Section 80C, 80D, 80TTA for deduction on savings account interest earned from a bank account. However, the government left unchanged [...]

Private lender Kotak Mahindra Bank on 25 May cut its savings account interest rate. For an account balance above ₹1 lakh, the rate was cut to 4% from 4.5%, while on a balance of less than ₹1 lakh, the rate was cut to 3.5% from 3.75%. The bank was offering 6% on balances above ₹1 lakh as recently [...]

Kotak Mahindra Bank has launched a service for their savings account product called Kotak 811. After the lockdown, as the business took a beating, banks took it on priority to launch this service. With the lockdown almost stalling the lending process and opening up of new accounts, banks have started doing KYC (know your customer) [...]

There are various investment options available in the market.  However, the following article suggests, five important options for the Senior Citizens.

We have faced curfews in the past, but a business loss and closure for over two months, is happening for the first time, which no one would have ever expected. It is obvious that everyone is affected by the nationwide lockdown- either be employees or employers. It is a tough time especially for those who [...]

Obviously Covid 19 has brought great fears in the minds of public more so, who have saved their hard earned money in the form of Fixed Deposits with Banks and Financial Institutions.  With the interest rates fluctuating and Banks coming out with reduced interest rates on their Deposits, what is the Public opinion on this?  [...]

Impact of COVID 19 on individuals, communities, and organizations is rapidly sprouting.  A recent article posited four different scenarios for the global economy resulting from COVID-19, which ranged from a mild and temporary hit to the worst-case scenario, a global financial crisis.  Here are the few notable concerns. Indeed it is unfortunate that COVID-19 arrived [...]

WhatsApp Payment is still fighting for entering the Payments System.  Meanwhile, there have been objections from different corners for permitting WhatsApp entry into the payment system, since it violates regulatory norms and that they should comply with all regulations before launch of its payment Gateway. Here is an interesting article which prompts the Apex Court [...]

The Prime Minister on 12th May 2020 announced Rs. 20 lac crore special Economic Package relief to overcome the financial crunch the country is facing due to Corona virus (COVID 19). The Finance Minister announced the first tranche of the government's economic package to fight the coronavirus pandemic. Aimed at all sections of the society, [...]

Do you want to pre book your seat in your office (along with the Gate pass or Swipe Card given to you).  No work station in future is automatically made available to you.  Henceforth, you would be forced to follow Staggered cafeteria timing Staggered Working hours A mask as a part of your formal dressing [...]