Banks sanction ₹1.87 lakh crore to 50.7 lakh MSMEs under credit guarantee scheme

Of this, about 27 lakh MSME units received cumulative disbursement of ₹1,36,140 crore till October 5 The Finance Ministry on Thursday said banks have sanctioned loans of about ₹1,87,579 crore to 50.7 lakh business units under the ₹3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector impacted …

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Parliament clears banking regulation bill to bring co-op banks under RBI

The Rajya Sabha on Tuesday passed the Banking Regulation (Amendment) Bill, 2020, that aims to bring co-operative banks under the regulatory framework of the Reserve Bank of India (RBI). Finance minister Nirmala Sitharaman said the amendments have been brought with singular objective of protecting depositors’ interest while ensuring the Punjab …

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Banks making huge profits as investors pile into gold

The world’s largest 50 investment banks are on track to double their income from precious metals this year to around $2.5 billion, most of it from gold, Coalition, a banking consultancy, told Reuters. “$1.2 billion was the earnings pool last year. This year we already crossed that number,” said Coalition …

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