Despite over a 100-basis point decline in interest rates, bank deposits surged by 11.4 per cent during the financial year ended March 2021, as against 7.9 per cent in the previous year.
Investments through SIP went up to Rs 9,182 crore in March compared to Rs 7,528 crore in February 2021.
Of total claims of Rs 14,680 crore under the Covid health insurance schemes, insurers have settled only claims worth Rs 7,900 crore, which is 54 per cent of amount claimed by insured people.
The move comes soon after the end of a one-year suspension of insolvency initiation under the Insolvency and Bankruptcy Code (IBC) imposed by the government in light of the Covid-19 pandemic.
An ordinance was promulgated to amend the Insolvency and Bankruptcy Code (IBC) on April 4, according to a notification.
Of the total capital infusion, Rs 11,500 crore has gone to these three banks while the remaining Rs 3,000 crore has been infused into Bank of 22 bet no deposit.
The earlier deadline to migrate to the Additional Factor of Authentication (AFA) ended on March 31.
As part of risk mitigation measure, RBI announced this step to bolster safety and security of card transactions.
HDFC Bank has been penalised for two major outages, one in November 2018 and the other in December 2019.
The SC decision on Tuesday will clear the way for lenders to classify NPAs as per the delinquency record of borrowers, which they had not been able to since the end of the moratorium period in August 2020 and the SC’s earlier directive not to classify defaults as NPAs.
“The Standing External Advisory Committee (SEAC) comprising eminent persons with experience in banking, financial sector and other relevant areas, will evaluate the applications thereafter. The tenure of this SEAC will be for three years,” the RBI said.
In short, depositors have seen their income shrinking since February 2019, while borrowers benefited from the rate cut.
It said the pandemic stirs a heady cocktail — fiscal stimulus, monetary accommodation, release of pent-up demand and vaccine rollout — on which bond vigilantes thrive.
DBS Private Bank in 2021 plans to launch more than 10 products, including exchange-traded funds, mutual funds and private equity investments.
The rise in the number of digital transactions at the bank was largely driven by pick up in e-commerce during the pandemic-induced lockdown, which restricted movement, SBI Chairman Dinesh Khara said.
According to the Irdai committee, the pool would cater to around 4 crore MSME workers and lead to a capacity of Rs 75,000 crore initially, including the provision of a government backstop.
Sitharaman, during the Question Hour in the Rajya Sabha, said the government has now "only indicated" the RBI to allow other private banks to perform government-related business to ensure there is a level playing field.
Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will also be impacted.
The QIP witnessed strong reception from both domestic and international institutional investors and the QIP was subscribed by sovereign wealth funds, large foreign portfolio investors, life insurance companies and a domestic mutual funds, AU Small Finance Bank said.