Private lender South Indian Bank today said it proposes to raise Rs 20 crore through private placement of shares to fund business growth.
The National Company Law Tribunal (NCLT) on Monday admitted the State Bank of India’s (SBI) plea to initiate insolvency proceedings against Bhushan Energy (BEL).
Chennai-based public-sector lender Indian Overseas Bank (IOB) on Monday said the proposed move to utilise the share premium account balance to set off the accumulated losses is to right-size the balance sheet as well as adopt best corporate governance, which will help give stakeholders clarity about the financials of the bank.
Indian banks have sought the option to withdraw a case admitted by the National Company Law Tribunal (NCLT) for insolvency proceedings, two bankers with direct knowledge of the development said.
Country’s largest lender State Bank of India plans to raise up to $2 billion (over Rs 12,600 crore) by issuing bonds in US dollar or other convertible currency.
As banks grapple with bad loan problem, non-banking financial companies are witnessing a rise in their market share.
Investors of the country’s oldest mutual fund UTI are likely to take a call on its listing sometime in April, said Sunil Mehta, head of Punjab National Bank, one of the sponsors of the asset management company.
As many as 1,463 entities account for bad loans of Rs 100 crore or more in 21 public sector banks (PSBs), finance ministry data showed.
Paytm Payments Bank today said it has partnered Induslnd Bank to introduce a facility to create a fixed deposit when the customer balance exceeds Rs 1 lakh at the end of day.
An Android malware has been targeting over 232 banking apps including HDFC Bank and ICICI Bank, Quick Heal Security Labs has detected. Here’s the list of all Indian banking apps and tips to stay safe.
The RBI has initiated prompt corrective action (PCA) against public sector lender Allahabad Bank owing to its high net non-performing assets (NPAs) and negative return on assets (RoA) for two consecutive years.
There will be no material impact as such on our normal banking operations.
The Narendra Modi government on Thursday sought parliamentary nod for additional Rs 80,000 crore bonds for the recapitalisation of public sector banks (PSBs) which are sitting on a pile of Rs 9.8 lakh crore bad loans.
The finance ministry on Wednesday sought to allay fears of a massive loss by depositors in case a bank faces insolvency under a proposed law, stressing that the controversial bail-in clause is unlikely to be applicable to over 98% of depositors.
The 21 listed PSBs earned nearly twice their aggregate net profit from penalties levied on non-maintenance of MAB in deposit accounts in FY17, showed data released by the ministry of finance in a response to a Lok Sabha question.
Continuing surge in the benchmark bond yields, which rose as much as 67 bps in the third quarter, will leave
banks with a big hole in their treasury portfolios and result in mark-to-market (MTM) losses of Rs 15,500 crore for the December quarter alone, warns a report by ICRA.
The Finance Ministry has approved a capital infusion of Rs 7,577 crore in six weak public sector banks (PSBs) as part of its Indradhanush bank recapitalisation plan to boost their capital adequacy ratio.
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.
Union minister Shiv Pratap Shukla today said no proposal regarding merger of Public Sector Banks (PSBs) is under consideration of the government.
The government on Tuesday once again allayed fears regarding the Bail-in provision in the proposed Financial Resolution and Deposit Insurance (FRDI) Bill.
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.
The government today said there have been complaints against banks that they do not accept coins for transactions at their branches.
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.
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.
The State Bank of India had collected whopping Rs 1,771 crore during April-November 2017 as charges from below minimum balance accounts.
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.
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.