banking news updates of the day

RBI to announce winners of small finance bank licence in the next few days: Mundra: Reserve Bank of India will, in the next few days, announce the names of successful applicants who are to be granted small finance bank licences, Mr. SS Mundra, RBI Deputy Governor, said. (BL) RBI will cut rate on conducive situation: The Reserve Bank of India is closely observing economic data as well as other macro developments and will make a decision on interest rates based on the situation, Deputy Governor Mr. SS Mundra said. RBI Governor knows better than Govt. on rates: Even as calls for interest rate cut grow louder in the corporate world, Mr. Rahul Bajaj, chairman of Bajaj Auto says the decision should be left with the RBI governor as he is the best person for it and “knows it better than the government and the industry.” (IE) Soon, top public sector banks to have mobile app Chillr: Mobile-based payment app Chillr is set to tie up with a large number of public sector banks soon. Currently, the app is being used mainly by customers of HDFC Bank with whom it tied up earlier this year. (BL) Banks indulging in ‘cartelisation of savings rate’: Ms. Kishori Udeshi, a former Deputy Governor of the RBI and ex-chief of the Banking Codes and Standards Board of India, , came down heavily on banks in the country for what she called „cartelisation of savings rate.‟ Rupee to move sideways with a bearish bias: It was a volatile week for the rupee as the currency swung widely in both directions. The rupee tumbled to a fresh two-year low of 66.89 on Monday, and was on the verge of declining below the 67-mark. However, recovery in the stock market indices helped the currency gain ground. (BL) Govt. not averse to merger of weak PSU banks with stronger lenders: After initiating several measures to strengthen public sector banks, the government said there was no reason to panic over the state of the banking sector and indicated that it would look at consolidating the "fragile" entities with the stronger ones if the situation demands. (TOI) Urban cooperative banks say Reserve Bank panel is wrong: The National Federation of Urban Cooperative Banks and Credit Societies (Nafcub), an apex body of these lenders, has opposed the recommendation of a Reserve Bank of India (RBI) panel to convert these bodies with business size of at least Rs 20,000 crore into regular banks.(BS) SBI homes in on staff to boost loan growth: In the race for retail loan growth, SBI has roped in its staff members to boost its already growing home loan portfolio and has sanctioned loans worth more than Rs 9,500 crore through staff referrals in over five months starting April. This is on top of a more than 50% growth in sanctions. (FE) Federal Bank’s ‘4D’ growth model: Federal Bank has drawn up a „4D‟ strategy to grow its business over the next three years, according to Ashutosh Khajuria, Executive Director. (BL) Yes Bank to set up retail SME service sentre in Chennai: Private sector lender YES Bank said it will set up its largest service centre in Chennai to address issues related to retail and SME customers across the country. This will be a centre of management excellence for the bank, officials said. (FE) Quote of the day : The only place success comes before work is in the dictionary.