National Federation of State Cooperative Banks' Managing Director Bhima Subrahmanyam said the intention of RBI guidelines is to destabilise and dismantle the three tier cooperative credit structure in the country.
At restricted or sealed areas, the Mobile ATMs will eliminate the need for the public to move out of their locality to withdraw cash, the bank noted in a statement.
"Compared to the first wave, when GDP decelerated by over 23% in Q1FY21, we expect numbers to be significantly different this time. The other aspect is that lockdowns have happened at different points in time, which has ensured continued economic activity."
“Das also advised the banks to ensure continuity in provision of various financial services including credit facilities to individuals and businesses in the face of challenges brought on by the pandemic,0 the RBI said. “He also urged them to continue focussing on efforts to further strengthen their balance sheets proactively.”
Terming the near-term expectations as "tepid" and making it clear that the bank will be "cautious" in these extraordinary times, chief executive and managing director Sashidhar Jagdishan said, "First time in so many years, we may not have any grip on what is going to happen".
The existing brand arrangement dated December 7, 2009 will continue to govern use of PNB trademark until PNB’s shareholding in the housing finance company is 30% or more. Upon PNB’s shareholding falling below 30%, the new agreement dated May 24 will replace the existing agreement, the housing finance company said in a regulatory filing.
The bureau interfaced with nine candidates from various public sector banks on May 24 for the forthcoming vacancy of managing director and chief executive officer in the Indian Bank, the BBB said in a statement.
Earlier this month, the Reserve Bank came out with the Resolution Framework 2.0 under which individuals and small businesses having exposure up to Rs 25 crore can opt for loan restructuring if they had not availed its earlier scheme.
In the fortnight ended May 8, 2020, bank advances stood at Rs 102.52 lakh crore and deposits at Rs 138.50 lakh crore, according to RBI's Scheduled Banks' Statement of Position in India as on May 07, 2021, released on Monday.
The Banking Regulation (Amendment) Act, 2020 has been notified for the StCBs and DCCBs with effect from April 1, 2021. Amalgamation of such banks need to be sanctioned by the Reserve Bank of India. RBI has come out with the guidelines after a few state governments approached it for amalgamation of DCCBs with StCBs as a two-tier Short-term Co-operative Credit Structure (STCCS).
"Tapan Ray, part-time non-official director as well as non-executive chairman ceased to be the director of the bank with effect from May 23, 2021, consequent upon completion of his tenure," Central Bank of India said in a regulatory filing.
"When we talk about the corporate book, it is more a function of how the economy is doing. Assuming that the retail book will remain robust, we are actually already seeing a decent number of enquiries coming in."