10 entities, including Ujjivan Financial Services and Equitas Holdings, on Wednesday got RBI’s approval to set up Small Finance Banks to provide basic banking services to small farmers and micro indus-tries. Other entities to get the Reserve Bank’s nod are Au Financiers (Jaipur), Capital Lo-cal Area Bank (Jalandhar), Disha Microfin (Ahmedabad), ESAF Microfinance (Chen-nai), Janalakshmi Financial (Bengaluru), RGVN (North East) Microfinance (Guwa-hati), Suryoday Micro Finance (Mumbai) and Utkarsh Micro Finance (Varanasi). The “in-principle” approval will be valid for 18 months to enable these entities comply with the guidelines on Small Finance Banks, RBI said in a statement.
United States
U.S. to extend help to India in facing new security challenges
WASHINGTON (TIP): Three months after the U.S.-India Homeland Security Dialogue in Washington, India is all set to send its officers to various agencies across American federal organizations to sharpen their skills and acquire new ones […]
Business & Economics
RBI EASES NORMS FOR BANKS TO GRANT LOANS TO THEIR CEOs, DIRECTORS
MUMBAI (TIP): Reserve Bank relaxed norms for banks to grant certain loans to their CEOs and directors by doing away with the prior approval requirement. Section 20 of Banking Regulation Act, 1949 (B.R. Act, 1949) […]
Business & Economics
DEUTSCHE BANK FINED RECORD $2.5 BILLION IN RATE RIGGING INQUIRY
LONDON/NEW YORK (TIP): US and British regulators fined Deutsche Bank$2.5 billion and its British subsidiary pleaded guilty to criminal wire fraud on Thursday as it became the eighth financial group to settle allegations of rigging […]
Be the first to comment