Banking & Finance News
Services to be impacted on May 30-31 if bank unions go on strike, says SBI
PTI | May 21, 2018 9:48 PM
The country's largest lender SBI today said its services may be impacted on May 30-31 if the proposed strike by various bank employees' unions take place.
Credit card player SBI Card looks to grow at 40% in FY19
PTI | May 16, 2018 8:41 PMCredit card player SBI Card is looking to continue growing at a 40 per cent CAGR in the current financial year on rise in card issuance and total spends, a top company official said today.
Department of Financial Services to approach revenue dept over GST on free services by banks
PTI | May 11, 2018 9:04 PMBank unions threaten 2-day nation-wide strike from May 30
PTI | May 11, 2018 4:47 PMHave a CIBIL score of 760? Bank of India offers home loans at cheaper rates to customers with good credit score
PTI | May 07, 2018 7:35 PMSuresh Prabhu to discuss credit woes of jewellery sector with bankers
PTI | May 10, 2018 3:40 PMRs 621 crore UCO Bank loan fraud: Enforcement Directorate registers money laundering case
PTI | May 06, 2018 7:05 PM-
SBI sees one-day defaults from lower-rated accounts
Shayan Ghosh | May 25, 2018 2:07 AMSBI has reported a loss of Rs 7,718 crore, for the three months to March, the lender’s second consecutive quarterly loss in FY18. The losses resulted from a spurt in provisions, largely for loan losses, along with mark-to-market (MTM) losses following a hardening of yields.
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Facing lending curbs, Dena Bank seeks more insurance partners
Shritama Bose | May 25, 2018 2:41 AMThe bank earned Rs 323.3 crore in non-interest income during the March quarter, a little over Rs 314.97 crore earned during the same period a year ago.
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Govt appoints non-executive chairpersons at 3 PSBs
FE Bureau | May 25, 2018 1:42 AMIn a tweet, financial services secretary Rajiv Kumar said: “As part of banking reforms and on recommendation of Banks Board Bureau (BBB), the government appoints Charan Singh, Anjali Bansal, and Tapan Ray as non executive chairperson of Punjab & Sind Bank, Dena Bank and Central Bank of India, respectively.”
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Bank unions call for two-day nationwide strike from May 30
PTI | May 24, 2018 5:30 PMEmployees and officers of various state-run banks have called for a two-day nationwide strike from May 30 to protest a nominal 2 per cent wage hike offered by the Indian Banks’ Association (IBA).
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PNB fraud: ED files charge sheet against Nirav Modi, associates
PTI | May 24, 2018 3:41 PMThe ED today filed its first charge sheet in the over USD 2 billion PNB fraud case involving diamantaire Nirav Modi and his associates, officials said.
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Massive! Deutsche Bank said to mull 10,000 job cuts and retreating from equities markets across the world
Bloomberg | May 24, 2018 12:07 PMDeutsche Bank AG is considering 10,000 job cuts and retreating from equities markets across the world as part of a sweeping overhaul by Chief Executive Officer Christian Sewing, people familiar with the matter said.
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UTI is not a PSU, and it has to be Sebi-compliant
The Financial Express | May 24, 2018 4:50 AMGovernment has to stop trying to run it through its financial institutions, ensure the IPO goes through, and set UTI free
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Andhra Bank reports Rs 2,535-cr standalone net loss in Quarter 4
FE Bureau | May 24, 2018 3:26 AMThe bank had posted a net profit of Rs 35.12 crore in the corresponding quarter of 2016-17. The loss came in the backdrop of provisions for NPAs increasing to Rs5,562.76 crore compared with Rs 1,171.58 crore in the year-ago period.
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HDFC Bank clocking Rs 1,000 cr in digital loan sales; launches online loans against mutual funds
PTI | May 23, 2018 10:23 PMThe digital alternative will reduce time taken to pass a loan to a up to three minutes as against the current time of up to six days, he said, adding that even getting the money through redemption takes up to three days.
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Worst for PSBs over; ‘pain’ for couple of quarters okay, says Financial services secretary Rajiv Kumar
PTI | May 23, 2018 8:47 PMScam-hit Punjab National Bank had posted a net loss of Rs 13,416.91 crore for the March quarter. In private sector, ICICI Bank last month reported halving of income in the quarter, while Axis Bank posted its first-ever loss.
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Barclays exploring possible merger with Standard Chartered
Bloomberg | May 23, 2018 2:08 PMBarclays Plc has been exploring a potential merger with rival banks including Standard Chartered Plc, as part of wide-ranging contingency plans being weighed by senior board members following pressure from an activist investor, the Financial Times reported.
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Yes Bank recovers Rs 184 crore from Bhushan Steel resolution
PTI | May 23, 2018 11:56 AMMidsize private sector lender Yes Bank on Wednesday said it has recovered Rs 184 crore through the sale of the bankrupt Bhushan Steel to Tata Steel and it will result in a provision write-back of Rs 36 crore.
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SBI biggest beneficiary of Bhushan Steel sale to Tatas; will garner Rs 1,300 crore
PTI | May 23, 2018 8:49 AMCountry’s largest lender SBI will be the biggest beneficiary of resolution of debt-ridden Bhushan Steel as its bottom line will go up by as much Rs 1,300 crore.
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2nd in a row in FY18: SBI posts Q4 net loss of Rs 7,718 crore
FE Bureau | May 23, 2018 5:30 AMHigh provisioning for loan losses, but shares jump as chairman Rajnish Kumar says NPA recognition over.
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SBI to sell stake in SBI General Insurance, SBI Card and SBI Capital Market soon, says State Bank of India’s chairman Rajnish Kumar
PTI | May 22, 2018 9:13 PMState Bank of India’s chairman Rajnish Kumar today said the lender is looking at selling stakes in some of its subsidiaries over the next two years.
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How surging bad loans have forced banks to keep increasing provisions
FE Online | May 22, 2018 6:01 PMIn value terms, the NPAs of these 26 banks were Rs 7.31 lakh crore and have increased by Rs 2.5 lakh , says rorIn value terms, the NPAs of these 26 banks were Rs 7.31 lakh crore and have increased by Rs 2.5 lakh crore this year over March 2017,e this year over March 2017,
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Record $1 billion loss signals ‘Happy Year’ for SBI
Bloomberg | May 22, 2018 5:32 PMState Bank of India, the country’s largest lender by assets, joined its private peers in shrugging off losses as investors believe the lenders have finally got a handle on bad loans.
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SBI’s Q4 net provisioning is six times than HDFC Bank’s Q4 net profit
Abhijeet Singh | May 22, 2018 5:10 PMIndia’s largest lender by assets SBI on Tuesday reported its highest-ever quarterly loss of Rs 7,718.17 crore for the January-March period of the financial year finished 31 March 2018 as compared to a standalone net profit of Rs 2,814.82 crore in the same period of the previous fiscal.
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HSBC black money list: ED seizes Rs 20.87 crore assets of Dabur’s Pradip Burman
PTI | May 22, 2018 2:53 PMThe ED today said it has seized assets worth Rs 20.87 crore of Dabur group Director Pradip Burman in connection with its FEMA probe in the HSBC bank black money list unearthed few years ago.
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SBI Q4 Results 2018: Bank reports biggest ever quarterly loss at Rs 7,718 crore, but shares rally 6%
Abhijeet Singh | May 22, 2018 3:10 PMSBI Q4 Results 2018: India’s largest bank by assets and third-largest by market capitalisation State Bank of India (SBI) on Tuesday reported a standalone net loss of Rs 7,718.17 crore for the quarter ended 31 March 2018 as bad loan provisions doubled as compared to same quarter last year.
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India’s Bankruptcy Board chief does not want IBC to be used at all; here’s why
FE Online | May 22, 2018 12:04 PMDays after the successful Rs 36,400 crore buyout of debt-ridden Bhushan Steel by a Tata Group company, Bankruptcy Board chief MS Sahoo said that the best use of the Insolvency and Bankruptcy Code (IBC) is not to use it at all.
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PNB fraud: Ex-CEO, two EDs didn’t take ‘any meaningful corrective measures’ on RBI notices, says CBI
Reuters | May 22, 2018 8:40 AMSenior executives at India’s Punjab National Bank misled the central bank in late 2016 over the lender’s handling of the financial messaging system and credit guarantees that were at the centre of a more than $2 billion fraud, Indian police alleged in a charge sheet filed in court.
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CDR cell seeks clarity on its role from RBI
Shayan Ghosh | May 22, 2018 3:12 AMCentral bank did not clarify status of the companies that have undergone successful debt restructuring but have not yet exited the cell.
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Finmin has no plan to ask RBI to relax PCA
FE Bureau | May 22, 2018 3:06 AMThe finance ministry has no plan to ask the Reserve Bank of India (RBI) to relax the prompt corrective action (PCA) framework for stressed public sector banks (PSBs), a top official said on Monday
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Services to be impacted on May 30-31 if bank unions go on strike, says SBI
PTI | May 21, 2018 9:48 PMThe country’s largest lender SBI today said its services may be impacted on May 30-31 if the proposed strike by various bank employees’ unions take place.
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PNB scam: Ex MD of bank was aware of fraud, says CBI
PTI | May 21, 2018 7:20 PMFormer MD and CEO of the Punjab National Bank Usha Ananthasubramanian and some other senior bank officials were aware of the “fraudulent” dealings with diamond merchant Nirav Modi but kept “misleading” the RBI, the CBI has alleged in its charge sheet.
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Nirav Modi faces fresh action in PNB fraud case: ED attaches assets worth Rs 170 cr of absconding diamantaire
PTI | May 21, 2018 4:55 PMThe Enforcement Directorate took fresh action against Nirav Modi and attached assets worth Rs 170 crore of the absconding diamantaire in connection with its money laundering probe in the over USD 2 billion PNB fraud case, officials said today.
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