Business Standard - The Reserve Bank of India has asked private sector lender Kotak Mahindra Bank not to issue new credit cards and barred new customer onboarding through the bank’s online and mobile banking channels. Read More
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April 25 Mint - As market cap fell making shareholders poorer by ₹39,768.36 crore, Uday Kotak holding a 29.71 per cent stake also lost ₹10,225 crore in a day. Read more
April 21 ‘Call Money’ is the borrowing or lending of funds for 1 day. When the money is borrowed or lend for period between 2 days and 14 days it is known as ‘Notice Money’. And ‘Term Money’ refers to borrowing/lending of funds for period exceeding 14 days. Banks and Primary Dealers borrow and lend overnight or for the short period to meet their short term mismatches in fund positions. This borrowing and lending is on unsecured basis which means that no collateral in required for borrowing or lending in...
November 27 A cooperative bank is a financial institution that is owned and controlled by a group of people who are also customers of the bank. These banks follow the cooperative principle of one person, one vote, and provide services such as savings and loans to both members and non-members. Cooperative banks in India are regulated by the Reserve Bank of India through Banking regulation act 1949 and Banking laws (cooperative society) act 1955 and are registered under the States Cooperative Societies Act. Cooperative...
July 22 Securitization is the conversion of illiquid assets such as the leases, loans, mortgages, and credit card debts of its customers of a financing company into highly liquid securities to be purchased or sold in the financial markets by clubbing them together. It is basically the pooling of assets that a finance company does not want to service anymore and converting them into securities for investors to invest. This process enhances liquidity in the market, and it serves as a useful tool, especially for...
July 22 e-Kuber is the core banking solution of the RBI, which enables each bank to connect their single current account across the country. Core banking solutions can be defined as a solution that enables banks to offer a multitude of customer-centric services on a 24x7 basis from a single location. All the commercial banks, primary dealers, scheduled urban co-operative banks, insurance companies, and provident funds who maintain funds accounts and securities accounts with the Reserve Bank of India are members of this...
July 03 What is the SDR? The SDR is an international reserve asset. The SDR itself is not a currency but an asset that holders can exchange for currency when needed. The SDR serves as the unit of account of the IMF and other international organizations. Special Drawing Rights (SDR) was created by the International Monetary Fund in 1969. The SDR serves as the unit of account of the IMF.Though it is not a real currency, it is just a unit of account. What is the purpose of the SDR? The IMF created the SDR as a...
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