-The Hindu Business Line Ahmedabad: Ahead of the kharif sowing season, Gujarat is facing a cash shortage as banks have started receiving lesser cash than required from the RBI. This has resulted in the rationing of cash disbursements at several banks in parts of Gujarat, mainly in the north. Banking sources confirmed experiencing cash shortage at the currency chest level from where the disbursement of cash takes place to the bank branches. There...
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Checking NPAs: 11 public sector banks now on RBI watchlist, small firms face credit crunch -Sunny Verma & Sandeep Singh
-The Indian Express At present, 11 weak PSBs out of the 21 State-owned banks are under the PCA, which kicks in when banks breach regulatory norms on issues such as minimum capital, amount of non-performing assets and return on assets. Lending to the corporate sector, particularly small and medium enterprises, is becoming increasingly difficult with more than half the country’s public sector banks (PSBs) now under the RBI’s Prompt Corrective Action (PCA)...
More »Banks are billing for your SMS alerts against RBI advisory -Atmadip Ray
-The Economic Times KOLKATA: Charges for SMS alerts on banking transactions may not squeeze account holders much but can be a reasonable earning for many banks, especially in accounts with meagre monthly transactions though income from SMS alert service goes against the advisory from the sector regulator. While Reserve Bank of India told banks to send SMS alerts for every transaction as means to fight frauds, the regulator also directed banks to...
More »RBI didn't do audit: Central Vigilance Commissioner KV Chowdary on PNB fraud
-PTI NEW DELHI: Central Vigilance Commissioner K V Chowdary on Tuesday said the Reserve Bank of India had apparently not conducted an audit during the period of time when a Rs 13,000-crore scam hit the Punjab National Bank. Chowdary stressed the need to put into place a more robust auditing system. "They did not do this (an audit)," the head of the probity watchdog said. The CVC exercises superintendence over the CBI which...
More »Central Vigilance Commission wants to keep an eye on private banks -Vikas Dhoot
-The Hindu Asks PMO to frame law for it The Central Vigilance Commission (CVC) has urged the Prime Minister’s Office to bring private sector banks under its watch, citing the fact that they have been involved in many recent instances of malfeasance. Vigilance officers in all State-owned public sector banks are required to report irregularities and possible wrongdoing to the CVC, India’s apex body for checking corruption in the government. Private sector banks...
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