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Banking & Finance News
SBI's MD B Sriram appointed MD & CEO of IDBI Bank for a temporary period of 3 months
PTI | June 20, 2018 9:12 PM
State Bank of India's Managing Director B Sriram was today appointed as the MD and CEO of IDBI Bank for a temporary period of three months, according to an official order.
What led to huge PNB fraud and how few rogue employees escaped detection
Reuters | June 20, 2018 7:38 PMA $2 billion fraud at India's Punjab National Bank (PNB) may have been orchestrated by a few rogue employees, but it escaped detection because of widespread risk-control and monitoring lapses in many areas of the bank, the bank's own internal probe has found.
CEO Chanda Kochhar would be on leave during probe in Videocon loan matter, confirms ICICI Bank; Sandeep Bakhshi appointed COO
PTI | June 18, 2018 9:09 PMLed by private sector lenders, bank credit up 3.4% in December quarter
PTI | June 18, 2018 9:30 PMIndians face 25% higher risks to financial fraud; these sectors are worst hit
PTI | June 18, 2018 4:25 PMTop jobs in PSU banks: BBB recommends these 22 GMs for elevation as executive directors
PTI | June 17, 2018 1:30 PMSurprise move: RBI staff union backs Governor Urjit Patel for work on solving bad loan, PSB problems
PTI | June 15, 2018 8:13 PM-
Axis Bank puts beleaguered Lanco Kondapalli Power on sale as it fails to pay off debt
PTI | June 22, 2018 7:33 PMAxis Bank has put up for sale Lanco Kondapalli Power, which owns and operates 1476 MW gas-based power plants as the power producer failed to pay dues.
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No unusual deposits in Ahmedabad DCCB during demonetisation: Nabard
PTI | June 22, 2018 4:15 PMThe Ahmedabad DCCB verification conducted by Nabard revealed that the bank had complied with all the KYC guidelines of the RBI while accepting the demonetised notes.
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Bank of Baroda puts Rs 3k-cr exposure to NCLT accounts on sale
Shritama Bose | June 22, 2018 1:46 AMThe bank has also put on the block its Rs 329-crore exposure to Binani Cement, which it had itself dragged to insolvency court.
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Bank of Maharashtra gets nod to raise Rs 3,000 cr; bank MD in hospital after arrest
Geeta Nair | June 22, 2018 1:42 AMA day after the Bank of Maharashtra MD & CEO Ravindra Marathe was arrested, the bank held its 15th AGM in Pune on Thursday, with bank’s executive director A C Rout presiding over the meeting. Shareholders approved plans to raise equity capital through FPO/QIP preferential share upto Rs 3,000 crore at the AGM. Only two […]
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RBI sets deadline for ATM upgrade
FE Bureau | June 22, 2018 1:37 AMIrked by the slow progress made by banks in addressing security concerns around automated teller machines (ATMs), the Reserve Bank of India (RBI) on Thursday set certain compliance timelines.
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Commercial Vehicle loan pools still robust post e-way bill rollout, says ICRA
FE Bureau | June 22, 2018 12:13 AMThe commercial vehicle (CV) loan pools continue to show robust performance after the e-way bill roll-out across the country from April 1 this year.
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Taking a serious note of slow progress! RBI asks banks to upgrade ATMs for greater security
PTI | June 21, 2018 8:42 PMTaking a serious note of slow progress by banks in addressing security issues, the Reserve Bank today gave them strict timelines to upgrade their ATMs or else face action.
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Sebi looking into alleged violations in ICICI Sec IPO, says Sebi Chairman Ajay Tyagi
PTI | June 21, 2018 8:17 PMICICI Securities had in March reduced the size of its initial public offer (IPO) to a little over Rs 3,500 crore after the sale elicited a sluggish response, especially from high networth individuals.
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ICICI Bank yet to respond to SEBI’s notice over allegations against Chanda Kochhar
FE Online | June 21, 2018 5:11 PMICICI Bank launched an enquiry into the allegations levelled by “an anonymous whistleblower” accusing her of quid pro quo and not adhering to ‘code of conduct’, amid the ongoing controversy over the Videocon loan case.
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Crisis of confidence in banking system provides an opportunity to unleash reforms
IANS | June 21, 2018 12:48 PMWhen the problems were just limited to bad loans and even the PNB fraud, most of the guns were trained at the inefficient working of the public-sector banks.
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DSK Group Cheating Case: Bank of Maharashtra MD & CEO Ravindra P Marathe arrested for fraud
Geeta Nair | June 21, 2018 2:12 AMThe Bank of Maharashtra MD and CEO, Ravindra P Marathe, and executive director Rajendra Gupta were remanded to police custody for seven days till June 27 by the Pune district court on Wednesday.
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SBI’s MD B Sriram appointed MD & CEO of IDBI Bank for a temporary period of 3 months
PTI | June 20, 2018 9:12 PMState Bank of India’s Managing Director B Sriram was today appointed as the MD and CEO of IDBI Bank for a temporary period of three months, according to an official order.
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What led to huge PNB fraud and how few rogue employees escaped detection
Reuters | June 20, 2018 7:38 PMA $2 billion fraud at India’s Punjab National Bank (PNB) may have been orchestrated by a few rogue employees, but it escaped detection because of widespread risk-control and monitoring lapses in many areas of the bank, the bank’s own internal probe has found.
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Bank of Maharashtra CMD Ravindra P Marathe arrested in Rs 3,000 cr fake loans case
IANS | June 20, 2018 7:31 PMIn a sudden development, the Economic Offences Wing (EOW) here arrested Ravindra P. Marathe, the Chairman and Managing Director of Bank of Maharashtra, in a case of Rs 3,000 crore fraudulent loans extended to Pune’s DSK Group, an official said here on Wednesday.
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ICICI Bank begins hunt for chairman after Sandeep Bakshi’s COO appointment as Chanda Kochhar goes on leave
FE Online | June 20, 2018 1:20 PMAfter Sandeep Bakshi’s appointment as the chief operating officer, ICICI Bank may get a new chairman as incumbent MK Sharma’s tenure ends on June 30.
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PNB scam: Lapses at many levels of bank led to India’s $2 billion fraud, shows internal report
Reuters | June 20, 2018 10:57 AMPNB’s own internal probe has found that the $2 billion fraud may have been orchestrated by a few rogue employees, but it escaped detection because of widespread risk-control and monitoring lapses in many areas of the bank.
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Piyush Goyal meets bank chiefs: PSBs to help MSMEs, genuine borrowers
FE Bureau | June 20, 2018 5:38 AMIn a move that would unclog credit flows to investors, public sector banks (PSBs) have resolved that any decision taken by 66% of creditors under the consortium lending arrangement will be accepted by all.
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General insurers’ premium grew 12% in April-May
FE Bureau | June 20, 2018 1:57 AMIn the first two months of the current financial year, general insurers saw a growth of 12% (year-on-year) in gross direct premium underwritten at Rs 24,209.86 crore as against Rs 21,613.32 crore in the last financial year.
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ICICI Bank COO Sandeep Bakhshi assumes office; NS Kannan new CEO of ICICI Prudential Life
FE Bureau | June 20, 2018 1:46 AMSandeep Bakhshi, who was appointed as a whole-time director and the chief operating officer (COO) of ICICI Bank on Monday, has started work in his new capacity while regulatory approvals are still being awaited, sources close to the matter said on Tuesday.
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RBI tightens remittance norms
PTI | June 19, 2018 10:48 PMThe RBI today tightened norms for LRS by making quoting of permanent account number (PAN) mandatory even for transactions below $25,000.
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Bankers chalk out strategy to promote lending to corporates, MSME, says Piyush Goyal
PTI | June 19, 2018 9:24 PMThe minister assured bankers that government is behind the honest employees.
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India pole vaults to top 5 nations in FinTech, says Amitabh Kant. Guess how much was invested in 2017
FE Online | June 19, 2018 6:44 PMThe number of deals happening in the financial technology space of the country has witnessed a sharp increase from 2014 onwards.
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Reeling under humongous NPAs, PSU banks vow to support ‘genuine’ borrowers
FE Online | June 19, 2018 7:07 PMAfter the meeting with PSBs, Piyush Goyal told reporters that all 21 PSBs have decided to extend their support to companies with a borrowing between Rs 200 and Rs 2,000 crore.
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With Chanda Kochhar on leave, who is the real boss at ICICI Bank?
Bloomberg | June 19, 2018 12:42 PMKochhar’s own stinking pile of corporate bad loans offers evidence that ICICI’s board has been a failure.
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As Chanda Kochhar goes on leave, Sandeep Bakshi appointed COO; know all about the veteran banker
FE Online | June 19, 2018 11:30 AMChanda Kochhar goes on leave: Sandeep Bakhshi has been appointed the Chief Operating Officer (COO) of the ICICI Bank after Chanda Kochhar, the existing CEO, decided on Monday to go on leave till an independent investigation against her is completed.
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Videocon loan matter: ICICI Bank CEO Chanda Kochhar goes on leave but remains the boss
FE Bureau | June 19, 2018 5:44 AMChanda Kochhar, CEO and managing director, ICICI Bank, decided on Monday to go on leave, stepping aside while justice B Srikrishna conducts an investigation into whether there was a conflict of interest in loans given by the private lender to the Videocon Group.
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Capital Infusion: AU Small Finance Bank raises Rs 1,000 crore from Temasek
FE Bureau | June 19, 2018 2:14 AMShares of AU Bank stayed flat at Rs 712 on Monday after the company announced shareholders had approved a capital infusion of Rs 1,000 crore from Temasek into the lender.
Horoscope: By Peter Vidal
SAGITTARIUS Your creative energy should now be at a peak, but not perhaps because the stars are all on your side. On the contrary, challenging romantic stars remind us of the cliché that all great art stems from… read more
