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COVID-19 OUTBREAK: HOW TO MANAGE FINANCIAL SERVICES DURING THIS CRISIS

Introduction As coronavirus has hit hard the entire nation, Prime Minister Shri. Narendra Modi has imposed a nationwide lockdown in an attempt to slow the spread of the coronavirus.

BANKING INDUSTRY-CURRENT SCENARIO & THE NEXT DECADE-WAY FORWARD

In the run-up to the 21st-century digitization, Banking industry is transforming to a different paradigm which is sea different what we have witnessed so far in the last five decades since it's nationalization in 1969. Today's banking scenario and yesterday's banking sector, the paramount difference is obvious DIGI -BANKING.

Will India Be Able To Combat Corona Wave?

All of us are aware by now the havoc that has been caused by COVID-19 all over the world, especially in Europe and USA. “The worst economic crisis since 2008”, “The FTSE sees its biggest hit since 1987”- intimidating isn’t it? It’s because saying “It’s a setback” and “We will recover” doesn’t gain the media hits that publicising fear does. We recovered from outbreaks ranging from the SARS epidemic to the Spanish flu, the greatest pandemic in modern history. Influenza hit the economy at a time when financial institutions weren’t half as robust as they are today, and even weaker due to World War 1 and the economic catastrophe it caused. But we came through, didn’t we? Expert speculation relies on empirical evidence to the extent that logic and faith is undermined, and it is why such speculation is not a perfectly reliable measure to predict markets and their movement. Hence, in these uncertain times, Lakewater feels optimism is the only tool at our disposal, and it would be rather wise to use it.

Impact Of Covid-19 Pandemic And Amalgamation In Indian Banks

The coronavirus (COVID-19) outbreak is causing widespread concern and economic hardship for consumers, businesses and communities across the globe including the banking industry as a whole.

IT IN BANKS & FRAUD RISK MANAGEMENT

In today's scenario, technological infrastructure has become an inevitable part of the reforms process in the banking system. With the advent of technology, many security concerns have also crept in. These loopholes in security lead to the occurrence of cyber crimes which not only gives financial setback to the bank or its customers but also pose a threat to the reputation of banking system in India. Every bank should have standards to deal with the risk of frauds occurring on account of technological advancements. This article gives a fair understanding of the role of technology in banks, various techniques of committing cyber frauds and suggestions for banks to prevent or manage the risk of frauds due to technology.

INDUSTRY NEWS

The Reserve Bank of India has allowed companies to opt for a three-month moratorium on loan repayments to combat lockdown, data with individual banks suggests that not many firms have chosen to defer routine interest payments for now.

RBI CIRCULAR

RBI CIRCULAR

RESERVE BANK

RESERVE BANK

GST NEWS

GST Council has agreed to discuss the issue of the late fee over delayed filing of returns at its next meeting slated later this month.

PUBLIC SECTOR BANKS DESERVE RESPECT

"The resources of the financial system are held by financial institutions in trust and have to be deployed for the maximum benefit of their owners' viz., depositors and investors. The safety of their funds should be the primary concern of banks and regulatory authorities and ensuring solvency, health and efficiency of the institutions should, therefore, be central to effective financial reform." -Report of the committee on Financial Reform, 1991 (Narsimham Committee)

EMERGENCY: A BITTER ALTERNATIVE TO 21 DAYS LOCKDOWN

India has taken the extreme measure of enforcing a 21-day lockdown, amidst corona outbreak, making it the first time a nation was shut under the provisions of the Disaster Management Act, 2005.

CO-OPERATIVE BANK NEWS

CO-OPERATIVE BANK NEWS

Blockchain Technology: Will It Change The Way We Bank?

Blockchain is a computer program that carries time specific data which is distinct and cannot be modified. This data is controlled by a cluster of computers and is not owned by any single entity.

OMBUDSMAN FOR DIGITAL TRANSACTION

On 1st. July 2015 Govt Of India launched Digital India campaign. The motto is Power to Empower. The Govt. targeted to transfer maximum financial & non financial transaction on digital platform. Govt. has also taken initiatives to moving towards cashless economy. In our country the cash handling cost is approx. 0.25% of GDP.

BAILOUT, CREDIT RISKS AND TECHNOLOGY - HOW WILL THE BANKING INDUSTRY SURVIVE COVID-19?

Like every other industry in the world right now, our banking industry is reeling under the effect of the Covid-19 pandemic too. To be sure, I believe the global financial industry is in a much better position to brace this impact than it was in 2008 in the wake of the global financial crisis.

SALARIED EMPLOYEES WHO GET HRA CAN'T CLAIM DEDUCTION UNDER SECTION 80GG ON RENT PAID

The income tax department recently sent notices to a number of salaried employees for claiming deduction for rent paid under Section 80GG of the Income-tax Act, 1961, even though they were receiving house rent allowance (HRA) from their employers.

EXTERNAL BENCHMARK FOR FLOATING

The amended Reserve Bank of India Act, 2016 has mandated the RBI to conduct monetary policy for achieving price stability as its primary objective while being mindful of growth. This mandated objective is difficult to achieve unless supported by a robust transmission mechanism (Acharya, 2017).

WHAT YOU CAN DO TO AVOID E-WALLET FRAUD

There is no end to the number of ways fraudsters can dupe you out of your money if you're not careful.

WAYS OF BOOSTING AGRICULTURAL CREDIT IN BANKS

Sources of agriculture credit can be broadly classified into institutional and non -institutional sources. Non-institutional sources include moneylenders, traders and commission agents, relatives and landlords but institutional sources include co-operatives, commercial banks including the SBI Group RBI AND NABARD.

DECODING THE INSOLVENCY AND BANKRUPTCY CODE: RECENT AMENDMENTS 2019

The Insolvency and Bankruptcy Code

HOW JAIPUR BECAME AN ECONOMIC CRIMES HUB

Bang in the middle of one of Jaipur's busiest arterial streets, the Sansar Chandra Road, is a modest office cradled on to the corner of a threestorey building.

CHALLENGES IN CHANGING LANDSCAPE IN MSME LENDING FOR BANKS & SUGGESTIVE MEASURES

The Role of MSMEs in the economic and social development of a country can hardly be over- emphasized. They are the major contributor in export, GDP and they play a significant role in maintaining balance in economic development yet they suffer from lack of adequate finance.It has been observed that business with tremendous growth potential fails to gain strong foothold due to paucity of both short term & long term finance.Banks/ FIs has important role to play in nurturing the small business units by providing them with adequate finance. It is observed that "Return on Capital Employed" in case of MSMEs using external finance is higher compared to SMEs who do not borrow. Unfortunately, still many MSMEs are unbanked; they still rely on informal sources of finance such as family, friends and relatives.The banks/ FIs also face several challenges in lending to MSMEs due to the inherent limitations of the sector like inability to submit required papers, lack of adequate collateral security, poor business financials etc.In this article , we have discussed the major challenges faced by banks in lending to MSMEs and some suggestive measures for improvement.

Why Interest Rates Aren't Falling

Since February, the Reserve Bank of India (RBI) has aggressively cut the repo rate.

Types Of AI And Their Impact On Banks

What is Artificial Intelligence?

Economic Slow Down Will It Pick Up, How And When

India's economy grew slower than expected to a 20-quarter low in the January-March period, dragging overall growth to a five-year low in FY19, following on from this, the central bank is widely expected to cut interest rates further to bolster the flagging economy.

Digital Marketing: An Essential Tool For Banks To Increase Visibility

Digital Marketing (also known as data-driven marketing) is defined as "marketing that makes use of electronic devices such as personal computers, cell phones, tablets and game console to engage with customers.

Rera: A Boon For Homebuyers

The real estate sector got its own regulator from May 1, 2017 the date when the Real Estate (Regulation and Development) Act, 2016 (RERA) became effective in the entire country.

India's Midnight 'Tryst' - GST Rolled Out To Modernize The Muddled Up Tax Structure

There's no denying that yield from indirect taxes is the bedrock of government's revenue.

Three A's Of Financial Inclusion

In the last few months "Digital India" has become the central theme for all major policy reforms in India. The concept has found its own interpretations for the development agencies and every organisation is making efforts to innovate and leverage in this changing landscape by finding various avenues. 

Evaluating The Project: Speed Thrills But Kills!

"A Project is a temporary endeavor with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables), undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value."- Wikipedia.