Beena Parmar

SBI recalls 600,000 debit cards as questions linger about after-effects

Following reports of security breaches, top banks, including SBI, ICICI Bank, HDFC Bank, have initiated actions to address the issue at the earliest.

3.2 million debit cards under threat... and counting

Some 3.2 million debit cards issued by India’s biggest banks such as SBI, HDFC and others could be exposed to a malware-induced security breach, but the actual damage may be much more than that.

This is how an ATM virus compromised 3.2 million debit cards in India

A virus or malware infection at Hitachi Payments Services led to over 32 lakh debit cards in India being compromised. Hitachi is one of the companies that operate ATMs in India. As a precautionary measure, State Bank of India and its subsidiaries have blocked 6.25 lakh cards while over 32 lakh cards including those of ICICI Bank, HDFC Bank, Axis Bank and Yes Bank are reported to have been infected.

SBI blocks lakhs of debit cards without warning to customers

SBI blocks 6.25 lakh debit cards after ‘suspicious’ transactions spike

The State Bank of India, the country’s largest bank, and its subsidiary banks blocked about 6.25 lakh debit cards of their customers after “suspicious” transactions spiked at third-party ATM machines.

Banks eye ₹70K cr reduction in debt from top three deals

The recent flurry among corporate houses to sell off assets to reduce their debt has given banks, which are reeling under a huge pile of bad loans, reason to smile.

Deal to help banks clean up books, but Essar has many debts to pay

The Essar Group will use the proceeds of the Essar Oil stake sale to halve its overall debt to about ₹44,000 crore, bringing relief to its leading creditors SBI and ICICI Bank.

How bankers drove the deal, to clean up their loan books

The Essar Group will use the proceeds of the $12.9-billion (Rs 86,400 crore) sale of Essar Oil to halve its overall debt to about Rs 42,000 crore, bringing relief to leading bankers SBI and ICICI which have lent heavily in the past

More property loans turn bad as NBFCs up lending

Facing stiff competition from banks, leading non-banking finance companies (NBFCs) are disregarding risk mitigation practices while lending money. This has led to a rise in bad loans against property (LAP).

Relief in sight for debt-laden banks?

Banks struggling under a mountain of loans gone bad, could soon get a breather as RBI is looking at a proposal to classify a part of the sticky debt as standard loan rather than as non-performing asset.

Loan EMIs may not fall as banks struggle with bad loans

Your loan EMIs may see a slow or no reduction as banks struggle with high deposit costs and bad loans.

Why Patel moved policy announcement to late afternoon

Predecessor Raghuram Rajan had stuck to the morning schedule, but Patel has brought it in line with global norms, and kept the interaction with media short and to the point

All eyes on MPC in Patel’s first RBI policy: Here’s all you need to know

The upcoming monetary policy review on Tuesday has two firsts. It will be Urjit Patel’s first as governor of the Reserve Bank of India. It will also be the first interest rate review by the recently constituted monetary policy committee (MPC), which will function on lines followed by developed nations that ropes in more experts from varied backgrounds.

PSU bank heads need longer tenures, says RBI’s Mundra

Govt bank heads need longer tenures: RBI

The Reserve Bank of India is of the opinion that heads of public sector banks (PSBs) should have a minimum term of five years, as such time would be needed to build strong leadership in the sector which is currently grappling with bad loans and has to address issues related to profitability and market share.

RBI guv Urjit Patel keen to shed ‘hawkish’ tag

Former Reserve Bank of India governor Raghuram Rajan was widely perceived to be a “hawk” when it came to monetary policy matters. His successor Urjit Patel, however, does not want to inherit the tag.

Rupee to stay volatile, all eyes on US Fed, BoJ monetary policies

Rupee to stay volatile, all eyes on US Fed, BoJ monetary policies

The rupee is set to remain volatile for a few months, primarily due to external factors such as the monetary policy reviews by the US and Japan. But the currency will be spared sharp falls and is likely to trade in the 67-68 per dollar range.

SBI auctions assets to recover loans, but finds few takers

Banks may find it tough to reduce exposures

Falling prices may make RBI cut rates

Vijay Mallya’s Kingfisher Villa to be auctioned by next month

Want to own Kingfisher villa?Get ready to shell out Rs 85 crore or more

Vijay Mallya’s grand Kingfisher Villa in Goa, home to his many flashy parties in the past, will be auctioned by lenders on October 19, to recover part of the dues that the industrialist owes to various banks.

Six months on, banks groping in the dark for Vijay Mallya

Six months on, there is no end in sight for authorities struggling to bring liquor baron Vijay Mallya to book after the industrialist fled to London in March, invoking suitable laws and crimping India’s efforts to bring him back.

‘You see the same companies defaulting on loans in 1990s and 2000s. We have not learned’

Veteran banker Uday Kotak seems to have taken to history. Kotak Mahindra Bank chief’s hour-long chat with HT was peppered with historical incidents. He spoke about the group’s 31-year track record: on how the firm studiously didn’t make trades that were too good to be true, on the importance of being prepared for the worst-case scenario on oil prices, and how Indian firms would soon see more institutional ownership as bad loans are tackled.

ICICI Bank’s 200 robots process a million transactions a day

Bank claims it has enabled employees to focus more on value-added and customer-related functions

Don’t have the UPI app? You can still transact through Trupay

Goodbye Raghuram Rajan, welcome Urjit Patel

Urjit Patel became the 24th Governor of the Reserve Bank of India as he took charge after Raghuram Rajan’s term ended on September 4.

ED attaches Vijay Mallya’s assets worth Rs 6,630 crore

India’s financial crime investigating agency on Saturday took possession of assets worth more than Rs 6,500 crore of liquor baron Vijay Mallya, the second such action against the flamboyant businessman once known as a “king of good times”.

Bank of Maharashtra is hiring: 1300 vacancies

As the banking sector struggles with bad loans, state-owned Bank of Maharashtra has said it will hire 1300 people, signalling its projection of growth of business.