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Back to Basics: Way forward for Indian Banks
In a mixed economy and transitional society such as ours we need both players to take the economy forward
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Time to bank on banks?
Bank Nifty index closed the week on a negative note, facing resistance around 37,300 levels post a brief bounce
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HDFC bank witnesses 17% growth YoY
Under the ECLGS scheme of the government, HDFC Bank has disbursed advances to over 5,950 MSME units in the state
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Employees of PSBs go on a two day strike
In the Union Budget presented in February, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs)
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Microfinance industry grew by 5.16% to Rs 2.43 lakh crore
NBFCs accounted for another 6.85% and other MFIs account for 1.05% of the universe, the report said
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SBI approves 6% stake sale in mutual fund
Currently, SBI holds 63% stake in SBIFMPL and the 37% stake is held by AMUNDI Asset Management through a wholly-owned subsidiary, Amundi India Holding
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Sebi issues clarifications on RTAs
With regard to nomination by holders of physical securities, Sebi said nomination form will be sent out to the security holder accounts in two phases
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LIC can increase stakes in IndusInd Bank: RBI
The state-run insurer holds 4.95% of the total issued and paid-up capital of the bank
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Number of ATMs increase to over 2.13 lakh by September 2021
According to the data from RBI, scheduled commercial banks have installed 2,13,145 ATMs (Automated Teller Machines) up to September 2021
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Private lenders fare better in interest rate transmission
The rate reduction has been more than 100 basis points for private sector banks
