1. RBI monitoring performance of banks under PCA — Currently, there are six banks (4 PSBs and 2 PVBs) under the PCA framework. The performance of these six banks, and the banks (five PSBs and one PVB) which have been taken out of the PCA framework, are being continuously monitored by the Reserve Bank through various financial indicators. Periodic meetings with the top management of these banks are also being held. 2. Merger of PSBs likely to transform face of banking — Various committees have recommended consolidation of PSBs, given underlying benefits synergies. Post Vijaya Bank and Dena Bank merger with Bank of Baroda, the government proposed an amalgamation of 10 PSBs to form 4 merged entities with a view to creating next generation banks with strong national and global presence.3. Asset quality of banks turned around after a gap of 7 years — All bank groups recorded an improvement in asset quality, with PSBs experiencing a drop both in the GNPA and in the net NPA … [Read more...] about A snapshot of RBI’s trend and progress of banking in India
India post payments bank
Two separate developments have meant a new set of rules will now be in place. First, in September last year, a five-member Constitution bench headed by former chief justice Dipak Misra ruled that it was “unconstitutional" for private firms to seek Aadhaar-based authentication. After the Supreme Court verdict, only the government can use Aadhaar for social welfare schemes. At the same time, RBI released the new guidelines that mandated full KYC for all customers. Digital wallet companies now cannot use Aadhaar data anymore, which meant every single customer that has already been verified needs to be re-verified. The emphasis is on offline verification, which means physical verification of identity documents which are then attached to a user’s ID on the platform. … [Read more...] about Can Mobile Wallets With Spending Limits and no KYC Boost Digital Payments in India?
“For transactions on exchange platforms through the stock broker, exchanges shall put a necessary system in place to ensure the pay-in is directly received by the recognised clearing corporation from the investor’s bank account, and pay-out is directly made to the investor’s bank account from a recognised clearing corporation’s account,” the paper said. … [Read more...] about To protect investors, Sebi mulls tighter MF norms post-Karvy
Eligibility CriteriaAge (as on 01.12.2019): Between 20 and 28 years (Upper age limit relaxation as per govt rules)Educational Qualifications (as on 01.12.2019): i) At least a Bachelor’s Degree in any discipline with a minimum of 50% marks (pass class for SC/ST/PWD candidates) in the aggregate and the knowledge of word processing on PC.ii) A candidate belonging to Ex-servicemen category (except dependents of ex-servicemen) should either be a graduate from a recognized University or should have passed the matriculation or its equivalent examination of the Armed Forces and rendered at least 15 years of defence service.iii) Candidates applying for post in a particular recruiting office should be proficient in the language (i.e. know to read, write, speak and understand the language) of the state/ any of the states falling under the recruiting office.Selection ProcessThe selection of the candidates will be conducted in three phases - Preliminary Examination (Multiple Choice), Main … [Read more...] about RBI Assistant Recruitment 2019: Application invited for 926 posts, here’s direct link
Don't Miss Movies Kushal Punjabi Commits Suicide; This Was His Last Post On Instagram Technology Vivo S1 Pro 8GB RAM To Cost Rs. 19,990 In India: Report Sports Three Premier League clubs who should move for Aston Villa star midfielder Automobiles Tata Altroz Bookings Open: India Launch scheduled For January 2020 Finance Allahabad Bank Surges 11% On Receiving Fresh Capital From Govt Lifestyle Best Of Alia Bhatt’s Fashion: The Gully Boy Actress Inspires Us To Stay Vibrant With Her Outfits Travel India Travel Tips: Tips And Hacks For First Timers Education How To Write An Essay On Christmas? … [Read more...] about Embattled Air India stops issuing tickets on credit to govt agencies that owe it over Rs 10 lakh