All posts tagged: Banks

Banks ‘casual’ with big loans, subject common borrowers to ‘borderline harassment’: SC

Banks ‘casual’ with big loans, subject common borrowers to ‘borderline harassment’: SC

Published by Parlour News

The Supreme Court has come down heavily on the State Bank of India (SBI) and other banks for subjecting ordinary borrowers to what it described as “borderline harassment” while processing small loans even as they remain “casual” in sanctioning massive loans to larger entities that often end up defaulting. The court expressed strong displeasure at the functioning of banks and urged India’s largest lender to revisit its policies. (PTI) A bench of justices Ahsanuddin Amanullah and R Mahadevan said it was increasingly noticing a troubling pattern in the banking sector where stringent scrutiny was reserved for individuals seeking loans for personal needs, whereas large-value loans appeared to be sanctioned with inadequate assessment of repayment capacity. “We indicate that it is coming to the notice of the Court that the banks in general, including respondent no.1-SBI, are casual in granting loans of huge amounts to bigger entities but at the same time very demanding apropos small loans where ordinary people come for personal requirements, yet subjecting them to more stringent conditions and a tedious process, which …

Why Mike Banks resigned as Trump’s Border Patrol Chief amid ‘prostitution’ allegations – Explained

Why Mike Banks resigned as Trump’s Border Patrol Chief amid ‘prostitution’ allegations – Explained

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Mike Banks, the US Border Patrol Chief, is stepping down only days after a Washington Examiner report cited sources to make bombshell ‘prostitution’ allegations against him. CBS News cited sources to report that Banks informed agency employees Thursday that he was retiring and returning to Texas after roughly a year and a half leading the Border Patrol. Border Patrol Chief Michael Banks speaks to reporters during the visit to the US-Mexico border by Defense Secretary Pete Hegseth (AP Photo/Andres Leighton) “It is time for me to retire and return home to Texas to focus on my family and ranch,” Banks wrote in a farewell message to staff. His departure comes weeks after explosive allegations resurfaced in an investigative report published by the Washington Examiner, which cited six current and former Border Patrol employees accusing Banks of regularly traveling abroad to engage in sex with prostitutes. What are the allegations against Mike Banks? According to the report, multiple current and retired Border Patrol officials alleged Banks openly discussed trips to countries including Colombia and Thailand over …

Australian banks warned frontier AI could create larger, faster cyber attacks | Technology News

Australian banks warned frontier AI could create larger, faster cyber attacks | Technology News

Published by Parlour News

3 min readApr 30, 2026 10:00 AM IST Australia’s financial system regulator said on Thursday the country’s banks were not keeping pace with AI industry developments, warning frontier AI systems such as Anthropic’s Mythos had the potential to lead to larger and faster cyber attacks. In a letter to banks, the Australian Prudential Regulation Authority (APRA) said most of the ⁠industry’s ​information security practices were struggling to match the rate of change in AI. The regulator said the speed of AI development could pose a growing threat to Australia’s financial services. “It also warns frontier AI models such as Anthropic’s Claude Mythos, which could enhance the discovery of vulnerabilities by bad ​actors, ​are expected to further increase the probability, speed and ⁠scale of cyber attacks,” APRA said in a statement referencing a review that it had conducted. Anthropic did not immediately respond to a ‌Reuters request for comment. Potential risks posed by Mythos, which has high-level coding capabilities, have given it a potentially unprecedented ability to identify cybersecurity vulnerabilities, experts have warned. Anthropic has launched …

FM Sitharaman warns of ‘unprecedented’ risks from Anthropic’s Mythos AI, says banks must stay vigilant

FM Sitharaman warns of ‘unprecedented’ risks from Anthropic’s Mythos AI, says banks must stay vigilant

Published by Webster

Finance Minister Nirmala Sitharaman on Friday said that Indian banks are adequately prepared to deal with emerging technology-related challenges, even as she raised fresh concerns over risks linked to a new artificial intelligence model developed by Anthropic.  Speaking to reporters, FM Sitharaman noted that India is closely monitoring the potential threats posed by Anthropic’s Mythos AI model, which has drawn global attention for its advanced capabilities. Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

Deepak Parekh Calls for Higher FDI in Banks, End to Priority Lending Norms

Deepak Parekh Calls for Higher FDI in Banks, End to Priority Lending Norms

Published by Parlour News

The government should allow banks greater freedom to choose where to lend and remove the limits on foreign direct investment (FDI) in the sector, Deepak Parekh, former chairman of the erstwhile Housing Development Finance Corporation (HDFC) said on Saturday. These changes, Parekh said, would help Indian banks grow in terms of asset size and make them attractive for foreign players — key for India’s economic growth. “I think it is time to allow banks greater freedom in choosing where they lend. Priority sector rules, as they stand today, belong to an era gone by. There is merit in completely opening up the foreign direct investment limits for private sector banks, and increasing FDI limits for public-sector banks from 29% currently to 49% at least,” Parekh said at the London Business School’s India Conclave held in Mumbai. “There are enough checks and balances through caps on voting rights and ownership limits. So, the RBI and the government should not be worried about opening up the sector,” Parekh further said, adding that this should be the next …

NHAI asks FASTag issuer banks to validate vehicle registration numbers to enhance accuracy| India News

NHAI asks FASTag issuer banks to validate vehicle registration numbers to enhance accuracy| India News

Published by Parlour News

New Delhi: State-owned NHAI on Wednesday said it has issued directions to all FASTag issuer banks to undertake immediate validation of vehicle registration numbers to enhance the accuracy and reliability of data in the electronic toll collection system. People register for FASTag at a Taswade toll plaza on the Pune-Bangalore national highway, in Karad on February 17. (PTI Photo) NHAI, in a statement, said the decision follows receipt of complaints regarding instances where the VRN (vehicle registration number) captured by FASTag readers does not match the actual registration number displayed on the vehicle number plate. Such discrepancies have the potential to undermine enforcement mechanisms and may lead to revenue evasion and also attract other penal provisions under the Motor Vehicles Act, 1988, it added. It has been observed that a considerable number of such mismatches are associated with FASTags issued prior to their issuance with the VAHAN database, the statement said. During that period, validation mechanisms were relatively limited and relied more on manual processes, leading to potential inconsistencies in vehicle identification records, it noted. …

Banks cannot inspect locker contents, says Finance Minister in Lok Sabha

Banks cannot inspect locker contents, says Finance Minister in Lok Sabha

Published by Webster

Banks cannot see or record what valuables customers store in lockers, as it would lead to a breach of banking regulations, Finance Minister Nirmala Sitharaman said on Monday, ruling out differential insurance coverage based on contents. Sitharaman was replying to a supplementary question raised by Congress leader and MP from Gadchiroli Chimur constituency, Namdeo Dasaram Kirsan, in the Lok Sabha during the Question Hour. “Sitting and watching the disclosure of a client of what valuables he is going to keep in the locker is a breach of banking rules, and banks wouldn`t do that, so that cannot be a measure for me to decide whether there should be differential coverage,” she said. The finance minister further said the standard coverage for locker holders is fixed at 100 times the annual locker rent in case of any loss. This is because banks cannot inspect or evaluate the contents of lockers, making it impractical to provide insurance based on actual value, she added. “For each one of them (lockers) separately, it is not possible, so it is …

Anger on the banks of the Musi

Anger on the banks of the Musi

Published by Parlour News

The Musi Riverfront Development Project will cover the city’s 55-kilometre river course, with each phase addressing a portion of the river. The stated objectives of the project are: flood mitigation, an accessible riverfront, a connected city, sustainable development, and heritage tourism. | Photo Credit: Nagara Gopal Thulasi Chandu, a journalist who runs her own YouTube channel, is one of the 417 occupants of the residential complex, Madhu Park Ridge, at Langar Houz. From her balcony, she gets a view of southern Hyderabad: the imposing 12th century Golconda Fort on one side and a sweeping view of greenery, which slowly gives way to a rising concrete jungle. Down the slope of the plateau on which Madhu Park Ridge stands, the rivulet Moosa, a tributary of the Musi river, meanders through the landscape for 11.2 . Its course from the still-green Ananthagiri hills into Hyderabad is regulated by the Osman Sagar reservoir at the city’s edge, built after the catastrophic floods of 1908. On a closer look, however, what flows through Moosa is a dark, almost opaque …

UP govt to honour contributors to cow protection; CM Yogi Adityanath orders fodder banks in all shelters| India News

UP govt to honour contributors to cow protection; CM Yogi Adityanath orders fodder banks in all shelters| India News

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Chief minister Yogi Adityanath has announced that the Uttar Pradesh government will honour individuals who have made outstanding contributions toward making cow protection and cow shelters self-reliant, according to an official statement. Uttar Pradesh chief minister Yogi Adityanath feeds jaggery and rotis to the cows at the goshala within the premises of Adi Shakti Maa Pateshwari Devi Shakti Peeth at Tulsipur, in Balrampur on Thursday. (@myogiadityanath X/ANI Photo) Chairing a review meeting of the Uttar Pradesh Go-Seva Aayog on Saturday, the chief minister directed the establishment of a ‘Fodder Bank’ in every shelter. He instructed officials to ensure the availability of green fodder through coordination with local farmers and connecting those practicing natural farming with these shelters. “Go-Seva is an integral part of India’s cultural heritage and those dedicated to this cause deserve public recognition,” Adityanath said. Also Read: Protests erupt in Mathura after cow vigilante Farsa Baba run over by truck; supporters allege murder, block highway The chief minister ordered installation of CCTVs in all cow shelters for continuous monitoring, suggesting the use of …

₹590-crore IDFC First Bank fraud: ACB rules out involvement of IAS officer; banks told to freeze over 100 accounts

₹590-crore IDFC First Bank fraud: ACB rules out involvement of IAS officer; banks told to freeze over 100 accounts

Published by Parlour News

The state vigilance and anti-corruption Bureau (SV&ACB) on Thursday ruled out involvement of any IAS officer in the alleged ₹590 crore IDFC First Bank fraud case. The ACB also said that a request has been sent to concerned authorities to freeze over 100 bank accounts suspected to be linked to the fraudulent transactions. Officials said that raids at 16 locations across Mohali, Chandigarh, and Gurugram have been conducted. (HT Photo for representation) ADGP Charu Bali and SP Ganga Ram Punia, while addressing a press conference at Panchkula headquarters, said that the probe revealed unauthorised financial transactions in 12 bank accounts linked to eight Haryana government departments. Of these, 10 accounts were maintained at IDFC First Bank, Sector 32, Chandigarh branch, and two at AU Small Finance Bank. So far, 11 accused have been arrested, including six bank employees, four private individuals and one government official. Among them, 10 are in judicial custody while one is on police remand. Accused Vikram Wadhwa, the key conspirator in the alleged fraud and a Chandigarh-based realtor-cum-businessman is still on …