Banking News Today | News for Bankers | 28.08.2022

Purvi Modi, sister of Nirav Modi, who allegedly defrauded PNB of Rs 13,000 crore – has offered to remit Rs 275 crore to the government as part of a pardon deal, The Indian Express has reported

Three masked thieves, who came in a car, broke open a PNB ATM at Bham village in Mahilpur block and fled with Rs 15.35 lakh. The thieves used a gas cutter to break open the ATM.

Leading private sector lender Kotak Mahindra Bank recorded as many as 5,278 cases of fraud in the first quarter (April to June) of the current financial year (2022-23), according to Reserve Bank of India (RBI) data. Country’s largest lender State Bank of India (SBI) reported only nine fraud cases during the same period.

Reserve Bank of India (RBI) has shared its inspection report of City Union Bank Ltd under the Right to Information (RTI) Act with activist Subhash Chandra Agrawal. The report reveals poor management control and sanctioning of high-risk loans from senior officials to the top executives without following RBI guidelines

The State Bank Of India (SBI) , the largest bank in the nation, maintained its leadership position in the debit card market and HDFC Bank in the credit card market as of June 2022, according to the most recent data, despite a 6% decline in year-over-year growth. According to data compiled by PGA Labs, public sector banks hold a larger percentage of the debit card market than private banks, whereas reverze in the Credit card market.. Bank of Baroda came in second with an 8% market share, followed by Bank of India, Canara Bank Union Bank, and Punjab National Bank, each with 5%. Source.

Personal loan disbursement grew 42 per cent to March 2022 from March 2021, reflecting an improvement in overall economic and business sentiments, a report by Equifax and Andromeda said.

The number of active loans increased to 6 crore by March 2022, from 4 and 3.5 crore in the March 2021, and 2020, respectively. While, personal loans book size rose to Rs 8 lakh crore in March 2022, from Rs 6 lakh crore in March 2021. SourcePunjab National Bank (PNB) has launched its pre-qualified credit card with a host of features, including insurance coverage. It has also introduced a new facility of overdraft against fixed deposit on PNB One in a few clicks and a single OTP (one-time password).

Punjab National Bank (PNB) has launched its pre-qualified credit card with a host of features, including insurance coverage. It has also introduced a new facility of overdraft against fixed deposit on PNB One in a few clicks and a single OTP (one-time password).