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The Reserve Bank of India (RBI) on Friday proposed to introduce a scale-based regulatory framework for non-banking financial companies (NBFC) to segregate larger entities and expose them to a stricter set of “bank-like” rules. This is aimed at protecting financial stability while ensuring that smaller NBFCs continue to enjoy light-touch regulations and grow with ease. In a discussion paper released on its website, the central bank suggested a four-tier pyramid structure for the sector. There will be a base layer (NBFC-BL), which will have NBFCs with an asset size of up to Rs 1,000 crore...

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Dhanlaxmi Bank Limited announces upgrade of CBS and related IT infrastructure to new platform Posted On: 2020-12-21 00:36:15 (Time Zone: Arizona, USA) Dhanlaxmi Bank Limited is upgrading its Core Banking Solution (CBS) and related IT infrastructure on to a new platform. The migration activity is scheduled between 25/12/2020 1:00 AM to 27/12/2020 8:00 AM. During this time window, all the online services of the Bank like Debit Card transactions / ATM / POS / Internet Banking / Mobile Banking / UPI / SMS Banking services will not be available. The Bank is communicating to all its customers ...

Government of India has announced the sale (issue/re-issue) of Government Stock through auctions to be held on December 18, 2020. As per revised scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD) are being notified. These include 4.48% GS 2023 (Rs 6000 crores), GoI FRB 2033 (Rs 2000 crores), 6.22% GS 2035 (Rs 9000 crores), and 6.67% GS 2050 (Rs 5000 crores). The underwriting auction will...

Are middleware solutions the need of the hour for Indian Banks? SECTIONS Last Updated: Dec 17, 2020, 11:37 AM IST Share Synopsis Globsyn’s NOTIVA is one such middleware solution that offers a high-end solution for banks and financial institutions in the field of transaction monitoring and security. ET Spotlight In the recent past, the world has witnessed a steady amplification of cyber attacks on various financial sectors especially in the SWIFT (Society for Worldwide Interbank Financial Transactions – a messaging service that banks use globally for inter-bank cross border transactions) s...