Both LG and Samsung have opened bookings for various products on their websites for limited periods and are offering gifts of up to Rs 10,000 on pre-bookings made during the lockdown period. LG has opened pre-bookings till May 15 and Samsung by May 8.

After 40 days of lockdown, certain business activities like opening of standalone stores and e-commerce delivery of non-essential items have been allowed in green and orange zones (locations with few or no COVID-19 cases).

South Korean electronics giant Samsung has resumed limited manufacturing operations at its Noida plant and will scale up the production gradually, a company official said on Friday.

Industry has also pitched for SPV with initial funding from govt, to help refinance small and mid-sized NBFCs

Affirms Issuer Default Ratings for seven banks including these four and Bank of India, Canara and PNB

With malls and shops closed, spending avenues are practically non-existent.

On April 27, the RBI had introduced the Rs 50,000-crore liquidity line for the MF industry

Capital infusion to be supported by IDFC limited, ICICI Prudential Life, HDFC Life, Warburg Pincus and Bajaj Allianz

The meeting will take stock of implementation of several steps announced by the RBI, including moderation in interest rate and its transmission, as well as liquidity infusion measures for industry

Fitch has cut its forecast for India's GDP growth in the financial year ending March 2021 (FY21) to 0.8 per cent from a pre-pandemic forecast of 5.1 per cent

Dhawan will assume charge from Saturday in place of Ashish Agarwal, the current chief risk officer, who will be transitioning to a new role in the bank

The meetings were also attended by deputy governors and other senior officers of the central bank, RBI said in a statement on its website

Depositors to get up to Rs 5 lakh under deposit insurance on liquidation

Relaxation likely on branch audit as Guv meets bankers

The number of NPA accounts rose from 2,08,035 as of March 31, 2014, to 6,17,306 as of December 2019

The RBI cancelled the licence of CKP Co-op Bank on April 28, and notified the cancelletaion on its website on Saturday. There it also said that deposits up to Rs 5 lakh are guaranteed by the DICGC

Mutual Funds say they didn't need to use their liquidity line fully

Suggestions from various quarters, including from Indian Banks' Association, have come for the further extension of moratorium and the RBI is actively considering them, according to sources.

Senior SBI executives said most of those seeking deferment are retail and micro and small enterprises and are hard-pressed for resources when earning and cash flows have almost dried up.

The motor and health segments led the decline in premiums for the industry as the month saw premium fall by 9 per cent.

Economic slowdown hits activity, adding fuel to the fire

Private banks put up a better show than other card financiers

Debt of Centre and states combined is over 70% of GDP already; country is currently just a notch above junk

The outstanding portfolio of private banks in the credit card space has increased by 59 per cent year-on-year while other issuers saw a 20 per cent growth in 2019 over 2018.

Considers 25 fresh credit proposals from shadow banks

There is a facility of standby line of credit for MSMEs as well as PNB COVID-19 Emergency Credit Facility (PNB-CECF), the bank said

The State Bank of India (SBI) has introduced a special deposit scheme for senior citizens with a higher interest rate

The bank saw a healthy growth of 37 per cent in its operating profit at Rs 765 crore compared to Rs 560 crore a year ago.

During March-April 2020, PSBs sanctioned loans worth Rs 5.66 lakh cr for more than 41.81 lakh accounts

Bank sets aside Rs 334 cr for expected penalty for SLR breach

The company offers its retail customers housing and non-housing loans

In the year-ago fortnight, bank loans had stood at Rs 96.20 trillion and deposits at Rs 124.83 trillion

Besides SBI, other members of the consortium that has been cheated are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank

RBI had earlier announced a three-month moratorium on loans by banks to NBFCs.

Rana Kapoor and his family members allegedly got benefits worth Rs 4,300 crore through the companies controlled by them as kickbacks for sanctioning huge loans, the ED has alleged.

For overnight, one month, three months and six months, MCLR have been reduced to 7.40 per cent, 7.50 per cent, 7.60 per cent and 7.70 per cent, respectively.

Those eligible for the benefit will have to show a cash shortage to prove that they will not use the relief to divert funds for other purposes.

State Bank of India, ICICI and some lenders are trying to resurrect the ‘bad bank’ plan.

The Covid-19 crisis is expected to have a heavy impact on the economy and many corporates have been cutting salaries. Some have also retrenched staff, with the unorganised sector being hit the most. The unemployment rate in India touched 27 per cent in the week to May 3, according to think-tank CMIE.

The RBI has allowed banks to extend moratorium to borrowers of term loans of all kinds for three months -- March, April and May. "SBI has taken a decision to extend the moratorium allowed by RBI to the NBFC sector which is facing severe problem of cashflow," Khara said.

The borrowers represented the micro, small and medium sized enterprises (MSMEs), retail, agriculture and corporate sectors, which was indicative of an economic revival, said finance minister Nirmala Sitharaman’s office in a tweet on Thursday.

The SBI official said the employee was not attending office for the last 8-10 days and was later found to have contracted the deadly virus.

"Given that 2020 is going to be an exceptional year with government borrowings set to jump, we believe the time has now come for increasing the demand for bonds by having the necessary amendment in the RBI Act used effectively so that conduct of reverse repo and term reverse repo operations are completely non-collateralized," it said.

Union Bank of India announced reduction in its MCLR up to 15 basis points across all tenors, effective May 11. Overnight MCLR has been reduced by 15 bps to 7.15 per cent from 7.30 per cent and one-month MCLR by 10 bps to 7.25 per cent.

In the previous fortnight which ended on April 10, 2020, bank credit had grown by 7.20 per cent and deposits by 9.45 per cent.

“Anyone who has not been able to pay because of the moratorium, we have taken care to not report them to rating agencies,” Yes Bank managing director Prashant Kumar said. “Customers cannot be penalised for that.”

​​​The CBI had recently booked the company engaged in export of Basmati rice to the West Asian and European countries and its directors Naresh Kumar, Suresh Kumar and Sangita on the basis of complaint from the State Bank of India (SBI), which suffered the loss of more than Rs 173 crore, they said.

A `Bad Bank' is being touted as the panacea for industry’s ills, yet again.

On Monday, the front-month US WTI benchmark crashed into negative territory for the first time ever in history

Brokers urge exchange and Sebi to work out an amicable price, as over 11,000 lots of open interest in the April contract were standing and couldn't be carried forward or squared off yesterday