Pragya Srivastava | January 3, 2018 2:44 PM
Arun Jaitley on Tuesday assured the Rajya Sabha that the government is considering putting in place a “much better” security measure for bank depositors and is open to suggestions for raising the deposit insurance limit from Rs 1 lakh.
PTI | January 2, 2018 7:24 PM
Union minister Shiv Pratap Shukla today said no proposal regarding merger of Public Sector Banks (PSBs) is under consideration of the government.
Bail-in: Government assures depositors again over FRDI bill, says existing protections will be increasedFE Online | January 2, 2018 7:26 PM
The government on Tuesday once again allayed fears regarding the Bail-in provision in the proposed Financial Resolution and Deposit Insurance (FRDI) Bill.
PTI | January 2, 2018 6:47 PM
Mortgage lender Indiabulls Housing Finance (IBHF) today said it has raised Rs 1,000 crore from private sector lender Yes Bank in the country’s maiden social affordable housing bond sale.
PTI | January 2, 2018 6:08 PM
The government today said there have been complaints against banks that they do not accept coins for transactions at their branches.
PTI | January 2, 2018 5:13 PM
The bulk of NPAs of banks have arisen out of loans given before April 1, 2014, due to aggressive lending and without proper risk assessment and even without being backed by securities, the government today said in the Rajya Sabha.
Bloomberg | January 2, 2018 11:45 AM
Punjab National Bank, India’s second-largest state-run lender, will be able to avoid massive losses after the government forced delinquent borrowers to repay loans or face liquidation proceedings under a new law.
FE Online | January 2, 2018 9:59 AM
The State Bank of India had collected whopping Rs 1,771 crore during April-November 2017 as charges from below minimum balance accounts.
FE Bureau | January 2, 2018 5:40 AM
State Bank of India (SBI) on Monday reduced its base rate by 30 basis points (bps) to 8.65% in response to a large number of its older borrowers switching to the marginal cost of funds-based lending rate (MCLR) regime.
FE Bureau | January 2, 2018 5:34 AM
The RBI is set to auction the new 10-year benchmark government bond on Friday, according to a notification. The bond will replace the 6.79% yielding central government securities maturing in 2027 as the benchmark 10-year paper.
PTI | January 1, 2018 6:19 PM
Putting branch rationalisation plan on fast track, Punjab National Bank (PNB) has placed 300 branches under watch and asked them to either shape up within a year or face closure or merger.
PTI | January 1, 2018 2:54 PM
IndusInd Bank today said it has raised $500 million (about Rs 3,193.75 crore) term loan from overseas lending bodies to expand its business.
PTI | December 31, 2017 7:16 PM
Presence of foreign bank ATMs in India have declined by 18 per cent over the last three years as some of them shut ATMs, while one bank closed operations here, according to official data.
PTI | December 31, 2017 7:07 PM
Asserting that interest rates have bottomed out, Punjab National Bank Managing Director Sunil Mehta said treasury income of banks would see some pressure in the fourth quarter due to change in methods of calculating depreciation as well as additional Rs 50,000 crore borrowing by the government.
PTI | December 31, 2017 5:59 PM
It will keep hearing shrill calls for rate cuts as it did in 2017, it will have to be vigilant for containing inflation and be blamed by naysayers for not doing enough to boost growth and it will have to remain in cleansing mode for ridding the banking sector of bad loans — 2018 may be another 2017 for RBI.
PTI | December 31, 2017 2:03 PM
The finance ministry has asked public sector banks (PSBs) to explore options for selling and swapping of loan assets with other lenders with a view to strengthen their balance sheets.
IANS | December 31, 2017 3:44 AM
State-run Allahabad Bank on Saturday signed an MoU with the government owned National E-Governance Services Ltd (NeSL) for a the tie-up that could help in minimising the resolution period in NCLT referred cases.
PTI | December 30, 2017 10:04 PM
Public sector Punjab National Bank today announced raising interest rates by up to 1.25 per cent on domestic term deposits of up to Rs 10 crore for different tenures, effective January 1, 2018.
PTI | December 30, 2017 8:16 PM
Central Bank of India today said its board will meet on January 3, 2018 to consider a proposal of raising additional equity capital of Rs 323 crore from the government.
PTI | December 30, 2017 6:27 PM
State-run Dena Bank today said it has received capital infusion of Rs 243 crore from the government.
FE Online | December 30, 2017 2:49 PM
Giving a huge relief to the providers of digital wallets and prepaid instruments, the Reserve Bank of India (RBI) has granted them two more months (till February) to complete ‘know your customer’ (KYC) compliance of existing users. Earlier, the RBI had asked all the prepaid instruments including Paytm to complete minimum KYC of users by December 31, 2017.
PTI | December 30, 2017 2:08 PM
State-run Bank of India today said it has received capital infusion of Rs 2,257 crore from the government.
Kotak Institutional Equities and guest | December 30, 2017 5:44 AM
The overall deposits in banks grew 11% year-on-year (y-o-y) in FY17, driven largely by current account and savings deposits after demonetisation.
There are differing views of Artificial Intelligence (AI), with Elon Musk asserting that “AI is the biggest risk we face as a civilisation” on one end, and Bill Gates stating that such threats are not quite true, on the other extreme of the spectrum.
FE Bureau | December 30, 2017 3:08 AM
Banks are unlikely to cut deposit rates despite the recent cut in interest rates on small savings schemes by the government, ratings agency Icra said on Friday.
PTI | January 19, 2018 6:25 PM
Finance Minister Arun Jaitley chaired a meeting with financial sector regulators during which they gave proposals for the Union Budget to be presented on February 1.
PTI | December 29, 2017 11:02 PM
Bihar’s Deputy Chief Minister Sushil Kumar Modi said that rural banks have to disburse a loan of Rs 22,920 crore among the farmers of the state in the current financial year.
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