The insurer aims to provide seamless customer experience round the clock to its customers and therefore has been investing in upgrading the entire technology landscape
However, branches of private sector lenders like ICICI Bank, HDFC Bank and Axis Bank are open as they are not part of the strike.
For the banks that got merged, - account number, IFSC, MICR code, branch address, cheque-book, passbooks will also undergo a change to represent the new entity.
The intensive review will include -- adequacy of the customer service and customer grievances redressal-related policies
RBI Governor asked banks to exploit the current conditions to augment capital and also alter their business models, which will help in the future
It, however, said net NPAs and credit provisions will subsequently trend lower in 2021-22 as banks have reported strong collections on their loan portfolio with most of them reporting collections of over 90 per cent.
Founded in 2001, Expertus offers payment-as-a-service cloud solutions to banks, credit unions and enterprise players. Over $50 billion is processed through the Expertus platform daily.
Moody's said the uncertain trajectory of asset quality is one of the biggest threats for emerging market banks, as operating conditions remain challenging
RBI issued guidelines to return the interest back to the customers
The CII suggested modifications to the circular to ensure that the RBI intent does not go in vain and operations of corporates and lending institutions can continue without much hurdles
Opposition members, including Shashi Tharoor of the Congress and Saugata Roy of the Trinamool Congress, opposed the bill, accusing the Centre of encroaching on the rights of states.
Forex traders said strengthening American currency and foreign fund outflows weighed on the local unit.
At the interbank forex market, the Indian currency started off on a tepid note and went on to trade in a narrow band of 74.91-74.88 per US dollar.
Over 60% of these loans susceptible to slip into becoming bad loans if not for the RBI's recast move