Daily Banking Current Affairs on 9th & 10th July 2015

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Bank union demands merger of Dhanalakshmi Bank with a PSB

  • A bank union demanded the merger of beleaguered Kerala-based lender Dhanalakshmi Bank with a nationalised bank, alleging mismanagement. 
  • The All-India Bank Officers Association (AIBOA), which claims to be the second largest union of bank officers, urged "the RBI to initiate immediate steps to merge Dhanalakshmi Bank with a nationalised bank" to avoid conflict of interests in managing the affairs of the bank by the board and top management. 
  • Thrissur, Kerala-based Dhanalakshmi has been in trouble for over four years now. It had reported a net loss of Rs 266.61 crore for the quarter ended March 2015.

DBS optimistic about plans to expand in India

  • Singapore-based DBS bank is "very optimistic" on India's potential and plans to have more than 50 branches in the country over the next three years once its application for wholly-owned subsidiary (WOS) is approved.
  • To expand its operation in the coming years, The Development Bank of Singapore Limited (DBS) has applied to the Reserve Bank of India for WOS approval on 30 April 2015. Once WOS approved, DBS would expand its branches in India to over 50 from the current 12.

Doha Bank looking at setting up subsidiary in India

  • Doha Bank, one of the largest commercial banks of Qatar, is looking at the possibility of setting up a subsidiary in India
  • Long-term view is to set up a full scale subsidiary for Indian operations which is needed to enter more cities. Doha Bank CEO R Seetharaman told.
  • Presently, Doha Bank has three branches in India - two in Mumbai and one in Kochi. 
  • Seetharaman said that one of the Mumbai branches would be relocated to some other city within the country, adding that West Bengal is in its radar because of the substantial presence of SMEs in the state. 
  • He said that the SMEs in India could take advantage of availing cheap credit from Doha Bank as 87 per cent of its lending is guaranteed by the Qatar government and also it is an 'A+' rated bank. 
  • The bank's exposure in India is $2 billion and is expected to touch $3 billion in the next three years, he added. 

Increase in Scheduled Commercial Banks Loan & Deposit Portfolios - RBI

  • The loan and deposit portfolios of scheduled commercial banks as on June 26, 2015 showed an uptrend, the Reserve Bank of India said. 
  • According to RBI, scheduled commercial banks saw a growth in their credit portfolio (loans, cash credits and overdrafts) to Rs.66,593.36 billion as on June 26, 2015 up from Rs.60,949.44 billion as on June 27, 2014. 
  • Similarly, deposits of the banks stood at Rs.87,985.35 billion as on June 26, 2015, up from Rs.78,993.37 billion as on June 27, 2014. 
  • The food credit outstanding of scheduled commercial banks as on June 26 this year was Rs.1,114.35 billion against Rs.1,144.1 billion as on June 27, 2014.

GI Tech launches money transfer service for Nepalese in India

  • Payment solutions provider GI Technology today inked deal with Prabhu Money transfer services and RBL Bank to provide remittance services for Nepalese people settled in India.
  • Under the partnership, Prabhu Money transfer would be the channel and support remittances through GI Technology's 90,000 agent locations across the country. 

BRICS bank to start lending in local currency by April: K V Kamath

  • The New Development Bank (NDB), set up by five BRICS nations including India, will start lending in local currency by April next year and member countries will primarily be the focus of credit facility, its chief and eminent banker K V Kamath said here today.