Banking News Loans & Advances

CGTMSE To Cover Retail Trades & Collateral Loans also

CGTMSE Coverage extended to Retail Trade & Collateral Loans also – Now Retail Trades & partial collateral loans may be covered under Credit Guarantee Scheme of CGTMSE. A decision in this regard taken under “Rebooting CGTMSE” organized by Ministry of MSME and CGTMSE on February 20, 2018. Following modifications were recommended for implementation : Charging Annual […]

Banking News

RBI Governor Pitches for Public Sector Bank’s Privatization

Post PNB Fraud, a lot of fuss for privatizing PSB’s by many industrialists, CEO’s of various companies, bureaucrats; it times for RBI governor to veil pitch for Public Sector Bank’s privatization. He said  that [box type=”info” align=”aligncenter” ]The government should decide what to do with public sector banks (PSBs) if it wanted to optimize the use […]

Banking News Forex

RBI bans LoUs and LoCs issuance by Banks

Post Punjab National Bank (PNB) Fraud the Reserve Bank of India (RBI) has banned the use of letters of undertaking (LoUs) and letters of comfort (LoCs). RBI has issued the fresh directives on issuance of  LoUs and LoCs for Banks in India. Banning of instruments may raise the cost of imports by up to half a percentage […]

Banking News

Public Sector Banks To Publish Wilful Defaulters Photo on Websites

The finance ministry under Enhanced Access and Service Excellence (EASE) programme has directed all state-run banks to publish the names and photographs of all wilful defaulters on their websites. Earlier, The government has asked all state-run banks to examine non-performing loans of more than Rs 50 crore for any sign of fraud.  What is RBI’s New […]