RBI steps in to end harassment of borrowers, prohibits digital lenders from accessing smartphone data

With the news of harassment of customers by digital lenders becoming frequent – in some cases the harassed borrowers even committing suicide – the Reserve Bank of India (RBI) has decided to issue stringent guidelines to put an end to Read More …

Banks, global investors may cap exposure to Adani firms: S&P

Indian banks and global investors are considering caps for their exposure to the Adani Group amidst the conglomerate’s aggressive growth push, which is riding on acquisitions, S&P Global Ratings said on Thursday. Even as the Group tries to grow in new business Read More …

Banking sector at enormous risk of asset-liability mismatch: Pronab Sen

India’s banking sector is faced with the predicament of a “massive asset-liability mismatch” that could explode anytime, adding that there is a need to reassess laws governing the industry, renowned economist Pronab Sen said. Sen said “that explosion” has not Read More …

Embracing sustainable investing for good banking: ESG in BFSI

“Sustainability”: The overarching goal of all global, local and commercial organizations since the 2010s seems primarily ambitious in the financial sector. An extensive study assessing NSE 600 companies in FY 2020-21, done recently underscores BFSI as one of the sectors Read More …

Hacker steals ₹7.3 crore from payment gateway company Razorpay in Bengaluru

The hacker stole ₹7.3 crore over three months by manipulating the authorisation process of the payment gateway company to authenticate 831 failed transactions The South East cyber crime police are trying to track down a hacker who stole ₹7.3 crore Read More …

Rs.82000 crore bank frauds reported last year, maximum in SBI & PNB: says RBI

Rs.82000 crore bank frauds reported: As per RBI data, 12 PSBs (Public Sector Banks) had reported frauds worth Rs 81,921.54 crore (approximately Rs.82,000 crore) in preceding fiscal 2020-21. This data was revealed on the basis of the Right to Information (RTI) Read More …

Establishing an operational risk framework in banking

Banks continue to evolve and enhance their Comprehensive Capital Analysis and Review (CCAR) operational risk loss estimation process. Now they have a renewed focus on the qualitative aspects of estimation, as well as the leverage of and integration with their Read More …

NatWest Chairman Sir Howard Davies on operational resilience in banking

Sir Howard Davies discusses the ways regulations, interest rates, monetary policy, climate risk, and economic threats are affecting the resilience of the banking system. During this time of great uncertainty—marked by protracted pandemic-related risks, rising geopolitical tensions, expanding cyberthreats, upheavals in Read More …