Banking & Finance

CSB Bank has enough capital for three-four years, says CEO CVR Rajendran

Going by the roadshows, there has been a tremendous response as not many issues are available in the market and the mid-cap universe remains limited. Most of them, the bigger funds, feel that it is a small issue for them to participate in because it is a
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PSBs reported frauds of over Rs 95,700 cr in Apr-Sep

The statutory inspection of the bank with reference to its position as on March 2019 conducted by RBI revealed large group exposure toward Housing Development and Infrastructure Limited (HDIL) Group c

Banking & Finance News

RBI fines Konark Urban Co-operative Bank Rs 4 lakh for violating guidelines

The fine has been imposed on the Thane-based bank under the provisions of Banking Regulation Act, 1949, the RBI said in a release.

rbi, rbi fine, reserve bank of india, Konark Urban Co-operative Bank, rbi guidelines violation News

RBI unions want govt to hike deposit insurance cover to Rs 10 lakh

The demand for increasing bank deposit insurance cover, which was last revised in May 1993, has come to the fore after the ongoing crisis at Punjab & Maharashtra Cooperative Bank.

deposit insurance cover, RBI, PMC bank, Punjab & Maharashtra Cooperative Bank, PMC bank crisis News

PMC case: Depositors can approach RBI admin for emergency withdrawals

In an affidavit filed in the HC in response to petitions challenging the fund withdrawal restrictions, the RBI has mentioned the withdrawal ceiling at Rs 50,000 for scenarios like marriage, education,

pmc bank scam, pmc case, pmc crisis, pmc bank case, RBI, Punjab and Maharashtra Cooperative bank News

SBI appoints collection agents for DHFL loan pools

Late last month, FE had reported that ICICI Bank had itself taken charge of collections from loan pools acquired from DHFL. Under normal circumstances, pooled loans would sit on the books of banks, wh

SBI, DHFL,DHFL  loan, ICICI Bank, industry news, banking news

PNB, Union Bank get in-principal nod from govt for proposed merger

These were State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore and State Bank of Hyderabad and also Bharatiya Mahila Bank effective April 2017.

Banking & Finance News

RBI has cut rates by 110 bps since April, but average lending rates goes up 8 bps: Report

The weighted average lending rate in the system is up 0.08 percent since April, economists at Bank of America Merrill Lynch said in a report.

RBI, reserve bank of india News

Bank deposits to get doubly safer: This clause in FRDI bill is music to the ears of depositors

The latest move comes at a time when fraud-hit Punjab and Maharashtra Co-operative Bank is facing a grave crisis and customers have been demanding their entire money back, apart from lifting the daily

Bank deposit, FRDI bill, PMC Bank, Financial Resolution and Deposit Insurance law, GDP, industry news, banking news,  PMC Bank news

PMC Bank scam: EOW conducts search at Rajneet Singh’s flat

"After producing Singh in the court, a team of around four officials took him to his flat in Karmashetra Building in Sion Koliwada area and conducted a search there. They were there for over an hour.

PMC Bank scam, Sardar Tara Singh, Economic Offences Wing, HDIL, RBI, latest news on PMC bank scam News

Bank of India, Indian Overseas Bank NPA divergences widen losses for FY19

Chennai-headquartered Indian Overseas Bank has reported a net non-performing asset (NPA) divergence of Rs 358 crore for 2018-19, due to which the divergence in provisioning came in at Rs 2,208 crore,

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RBI should be given full power to regulate cooperative banks: Satish Marathe

PMC, which is among the top-10 urban cooperative banks, was placed under an RBI-appointed administrator on September 23 for six months due to massive under-reporting of dud loans.

The scam has affected lakhs of customers who are facing difficulties in withdrawing their entire money due to restrictions imposed by the RBI. News

Banks win Rs 40,000 crore back in one stroke; SBI set to recover this much from Essar Steel IBC punch

The Supreme Court's landmark judgement in Essar Steel case spells a major win for banks as they stand to recover upward of Rs 40,000 crore of NPAs in a single stroke -- the money which otherwise was l

Essar Steel, IBC process, NCLAT, Supreme Court,  Committee of Creditors, Essar Steel stakeholders News

PMC effect! Govt to change law to bolster regulation of cooperatives

On the response to the Rs 25,000-crore housing fund (to start with) to bail out stuck projects, the minister said four of them in three cities — Mumbai, Hyderabad and Bengaluru — have approached t

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Syndicate Bank: Net NPA may come down to 5%

“However, the recovery rate has improved drastically. During the first quarter, we were recovering around Rs 18 crore daily, which has gone up to Rs 26-28 crore per day, now,” he said.

Syndicate Bank, Net NPA, NPA, banking news, industry news, Syndicate Bank share, Syndicate Bank merger, Syndicate Bank online banking, IL&FS, DHFL,  Religare, IBC News

After PSBs, ICICI Bank launches carnival to provide instant loans

Anup Bagchi, executive director, ICICI Bank, said, “We are taking our unique proposition of instant loans and on-the-spot-approvals to the doorstep of potential customers... We believe that we are o

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Your bank deposits just got safer; PMC bank fallout prompts long-desired action on insurance limit

The finance minister also said the government has no plans to cut spending on welfare schemes and will encourage all the departments of the Union government to spend entire funds provided in the Budge

Nirmala Sitharman, insurance cover, bank deposits, bank deposits above Rs 1 lakh, Reserve Bank of India, PMC scam, Vodafone Idea, Airtel News

Government notifies rules under insolvency law for resolution of financial service providers

The corporate affairs ministry has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019

insolvency, bankruptcy, FSP, IBC, finance news

Singapore fines Swiss banking giant UBS $8 million for deceptive trades

The city-state's central bank, the Monetary Authority of Singapore (MAS), said UBS had admitted liability for its advisors' actions and paid a civil penalty.

Banking & Finance News

InfrasoftTech plans further expansion in global banking market

Infrasoft Technologies Ltd (InfrasoftTech) is backed by its latest artificial intelligence product, Kiya.ai and Univius RegTech, that provides early detection of potential frauds in banks, said managi

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Sebi norms: Central Bank of India and IoB report divergence of NPAs for FY19

Post an assessment by the Reserve Bank of India of its non-performing assets (NPAs), Central Bank of India’s losses for 2018-19 stand revised at Rs. 6,430 crore.

Banking & Finance News

Union Bank of India posts Rs 1,194 crore Q2 net loss on higher provisions

The bank said that it made additional provisions to account for a divergence in asset classification identified by the Reserve Bank of India for FY19.

Banking & Finance News

Credit crisis at home doesn’t stop some lenders getting global loans

While most of India’s shadow lenders remain caught in a prolonged cash crunch at home, some of the highest-quality financiers are finding that yield-hungry investors in the global loan market are

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No CAR relief for foreign banks: RBI

It is felt that a foreign bank opening a branch inside an IFSC would be incentivised if it's not required to bring large amount of capital as per norms set by RBI.

Banking & Finance News
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