The number of fraud cases reported by lenders also jumped to 6,801 in 2018-19, compared to 5,916 cases in 2017-18.

This first-of-its-kind solution aims to revolutionise banking thereby curbing frauds and enhancing digital customer experience.

DHFL’s creditors include mutual funds, pension funds, insurance firms and a wide array of retail investors.

Icra expects year-on-year credit growth to decline to 6.2-6.8 per cent in FY20 from 13.5 per cent in the last financial year.

Banks may not be able to garner all the goods for themselves, as the non-bank players become more active in the segment.

I have very clearly underlined the fact that there shall not be one employee removed, said Finance Minister Nirmala Sitharaman.

The government on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans.

The RBI has reiterated the instructions with a view to provide for cash withdrawals at PoS by card-holders.

Participating banks suggested that government should simplify GST framework and lower GST rates to enhance tax compliance.

Banks reduced their weighted average lending rates on fresh rupee loans by 0.29 pc amid the current easing stage so far.