Complaints Against Banks Spike by 58%, Most About Online Transactions: RBI Report
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According to RBI’s annual report on Banking Ombudsman Scheme, the number of complaints against banks rose by 58% in the financial year 2019-20. There was a total of 3,08,630 complaints as against 1,95,901 a year earlier.
Complaints against NBFCs increased by 387%. The ombudsman for NBFCs received a total of 19,432 complaints in the same financial year as against 3,991 a year earlier.
Most complaints with the banking ombudsman were about digital modes of transactions, constituting 44.66% of the total complaints received. In the previous years, there were higher number of complaints about banks not adhering to the Fair Practices Code (FPC).
CRISIL reaffirms rating of Axis Bank Limited
Posted On: 2021-02-01 10:01:02 (Time Zone: Arizona, USA)
CRISIL Ratings has reaffirmed its CRISIL AAA/CRISIL AA+/Stable/CRISIL A1+ ratings on the debt instruments of Axis Bank Limited (Axis bank).
The ratings continue to reflect the bank s strong capitalization and strong market position and its comfortable resource profile. These strengths are partly tempered by the average asset quality.
The nationwide lockdown to contain the spread of Covid-19 pandemic impacted disbursements and collections of financial institutions. The lockdown has been eased in phases. Delay in return to normalcy will continue to constrain collections and asset quality of financial institutions. Axis Bank has provided moratorium to its borrowers in line with the relief measures provided by the Reserve Bank of India (RBI). Additionally, any change in the payment discipline of borrowers can affect delinquencies. Also, a one-time restructuring scheme announ
New Delhi [India], January 21 (ANI): The Competition Commission of India (CCI) on Thursday approved the acquisition of stake in Max Life Insurance Company Limited by Axis Bank Limited, Axis Capital Limited and Axis Securities Limited, according to the Ministry of Corporate Affairs.
Varanasi Municipal Corporation to issue bonds for raising funds
By IANS |
Published on
Wed, Dec 30 2020 18:12 IST |
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In a major reprieve to thousands of boatmen here, the Varanasi Municipal Corporation (VMC) has started afresh the process of registration of boats in all categories. . Image Source: IANS News
Varanasi, Dec 30 : Varanasi is all set to be the second city after Lucknow in Uttar Pradesh to raise Rs 200 crore through municipal bonds.
The Varanasi Municipal Corporation (VMC) has started preparing the bond in the parliamentary constituency of Prime Minister Narendra Modi. The funds raised through this bond would be invested in various infrastructure schemes and the development of Varanasi.