BS Yeddyurappa resigns, Congress-JD(S) to form government in Karnataka
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Who will save the Constitution?
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- Walmart, Flipkart deal signals churn in e-grocery
- BS Yeddyurappa resigns, Congress-JD(S) to form government in Karnataka
- Build habitats, not just buildings, says Pritzker Prize winner BV Doshi
- Inside track: From speed with which JD(S)-Congress stepped in to stake claim to form Karnataka government to Congress performance a blow to Rahul Gandhi
- Who will save the Constitution?
Banking & Finance News
Credit card player SBI Card looks to grow at 40% in FY19
PTI | May 16, 2018 8:41 PM
Credit 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 PMDepartment of Financial Services (DFS) has decided to approach the revenue department to clear the confusion over levy of GST on some of the free services offered by banks to its customers.
Bank 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 PMPNB fraud: ED refuses to share details of Nirav Modi & Mehul Choksi's seized assets
PTI | May 06, 2018 2:44 PM-
Rs 13,000 crore PNB Scam update: Punjab National Bank refuses to disclose details under RTI
PTI | May 20, 2018 1:45 PMThe bank was asked to provide details of inspection that resulted in detection of the fraud and provide copy of inspection reports.
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Punjab National Bank’s trouble: Wilful defaults by big borrowers slip further to Rs 15,200 crore
PTI | May 20, 2018 12:36 PMState-run Punjab National Bank (PNB) saw wilful defaults by big borrowers slipping further to Rs 15,199.57 crore in April this year over the previous month, soon after suffering a record loss of more than Rs 13,400 crore for January-March due to frauds and bad loans.
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BoI to get Rs 1993 cr from Tata Steel-Bhushan Steel deal
PTI | May 19, 2018 7:39 PMThe state-owned Bank of India (BoI) would be able to realise around Rs 1993 crore from the first successful NCLT resolution concerning Tata Steel and Bhushan Steel, an official said.
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RBI’s Feb Circular: Finance Ministry keeps up demand for relief on insolvency trigger
Banikinkar Pattanayak | May 19, 2018 4:40 AMThe finance ministry will renew calls for relaxing the Reserve Bank of India’s February stipulation that requires banks to finalise a resolution plan in case of a default on large accounts within 180 days, failing which insolvency proceedings will have to be invoked against the defaulter.
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Punjab National Bank Rating: Govt bailout the need of the hour
Jefferies | May 19, 2018 1:32 AMFall in asset quality biggest disappointment of quarter; loss forecast in FY19 and FY20e EPS slashed by 40%; TP down to Rs 80 from Rs 110.
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Acquisition of Bhushan Steel by Tatas historic breakthrough: Piyush Goyal
PTI | May 18, 2018 10:37 PMFinance Minister Piyush Goyal today said the purchase of debt-ridden Bhushan Steel by a Tata Group company under the IBC proceedings as a “historic breakthrough” in resolving legacy issues of banks.
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IBC a big success story for cleaning banking system: Financial Services Secretary Rajiv Kumar
PTI | May 18, 2018 10:28 PMThe acquisition of debt-ridden Bhushan Steel by Tata Steel reflects success of the insolvency and bankruptcy law which will help in cleansing the banking system as well as boost lenders’ profitability, Financial Services Secretary Rajiv Kumar said today.
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RBI supervising banks more actively after Modi came to power, says FinMin Piyush Goyal
FE Online | May 18, 2018 12:43 PMThe Reserve Bank of India (RBI) has become more active in supervising banks since the Modi government arrived in comparison to the past governments, said Finance Minister Piyush Goyal.
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Meeting with stressed PSBs: Govt may have to cough up more capital in FY19
FE Bureau | May 18, 2018 4:32 AMThe government may have to fork out more funds for public-sector banks (PSBs) in the current fiscal than estimated earlier as part of its unprecedented Rs 2.1-lakh-crore capital infusion plan over two years, as massive provisioning requirements to cover for bad assets have taken a toll on their capital base, banking sources said.
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RBI tweaks norms for setting up of IFSC Banking Units
PTI | May 17, 2018 7:38 PMModifying the norms for setting up IFSC Banking Units, RBI said today that the parent bank will be required to provide and maintain at all times a minimum capital of USD 20 million to its IBU.
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More people signing up for SBI credit cards as online discounts, cashbacks drive spending in small cities
Ashish Pandey | May 17, 2018 4:19 PME-commerce is driving growth for SBI Card in smaller cities as more than 45 percent of overall card spends for the company are coming outside the top 10 cities.
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Finance Minister Piyush Goyal says will bring banks back on track from UPA’s reckless lending binge
FE Online | May 17, 2018 12:56 PMPutting onus for the rising bad loan problem on the previous government, Finance Minister Piyush Goyal on Thursday said that the reckless lending initiated under the last UPA regime resulted in banking sector getting financially stressed.
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Yes Bank to raise whopping USD 1 billion via share sale
PTI | May 16, 2018 10:55 PMPrivate sector lender Yes Bank today said it seeks to raise USD 1 billion (about Rs 6,700 crore) by selling shares by way of a public issue, preferential issue or issuance of ADR and GDR.
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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.
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PNB scam: CBI files chargesheet against Mehul Choksi, Gitanjali group
PTI | May 16, 2018 3:55 PMThe CBI on Wednesday filed its chargesheet against billionaire jeweller Mehul Choksi and 17 other entities, including companies owned by him and other individuals, in connection with the over USD 2 billion Punjab National Bank (PNB) scam.
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India’s second largest PSU lender PNB must stop doing this one thing: lending money
Bloomberg | May 16, 2018 3:29 PMOther than the embarrassment of asking the country’s second-largest state-run lender to, well, stop lending, there’s no other reason why India should allow Punjab National Bank to advance even one rupee to anybody except the government.
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Biggest ever loss in PNB Q4 results! How stressed is India’s 2nd largest PSU bank: 5 key points
Abhijeet Singh | May 16, 2018 1:59 PMIndia’s second largest PSU bank PNB (Punjab National Bank) on Tuesday posted biggest ever quarterly loss by any bank in India, largely due to the crater caused by the Rs 13,000-crore fraud allegedly involving billionaire diamantaire Nirav Modi and his uncle Mehul Choksi.
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PNB fraud: Nirav Modi’s ex-director moves HC for quashing Look Out Circular
PTI | May 15, 2018 10:10 PMA former director of diamantaire Nirav Modi’s company today moved the Delhi High Court seeking quashing of a Look Out Circular (LOC) issued against him after lodging of an FIR by the CBI in the PNB fraud case.
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Now, Allahabad Bank divests its CEO Usha Ananthasubramanian of all powers
PTI | May 15, 2018 6:42 PMThe Board of state-owned Allahabad Bank today divested its MD and CEO Usha Ananthasubramanian of all powers with immediate effect.
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Good news! Cheque book issuance, ATM withdrawals likely to remain out of GST ambit
PTI | May 15, 2018 5:12 PMFree banking services like cheque book issuance and ATM withdrawals is likely to remain out of the ambit of the GST, a senior finance ministry official said.
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Action against top bankers right, but PNB MD Sunil Mehta should keep away, says top leader of AIBEA
IANS | May 15, 2018 12:24 PMThe CBI has chargesheeted Ananthasubramanian and 21 others, including 11 bank officials in connection with the fraud in PNB allegedly masterminded by diamantire Nirav Modi and his uncle Mehul Choksi.
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Under scanner: RBI asks Allahabad Bank to lend less
FE Bureau | May 15, 2018 5:45 AMAllahabad Bank on Monday said the Reserve Bank of India (RBI) has advised the lender to restrict expansion of risk-weighted assets (RWA).
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PNB Fraud Case: Govt seeks ouster of top bankers
FE Bureau | May 15, 2018 5:39 AMIn a major crackdown against high-profile bankers following the filing of the first charge sheet by the Central Bureau of Investigation over the $2-billion fraud at Punjab National Bank (PNB), the finance ministry on Monday directed the board of Allahabad Bank to divest all powers of its chief executive and managing director Usha Ananthasubramanian, who was at the helm of affairs at PNB until last year.
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RBI puts deposit, lending restrictions on Allahabad Bank
PTI | May 14, 2018 7:51 PMState-run Allahabad Bank today said the Reserve Bank has imposed restrictions on its lending to risky assets and raising high-cost deposits in view of deteriorating financial health.
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Government cracks whip, asks Allahabad Bank board to divest CEO Usha Ananthasubramanian of all powers
PTI | May 14, 2018 4:35 PMCracking the whip, the government today asked the board of Allahabad Bank to take away all the powers of its CEO and MD Usha Ananthasubramanian, former chief of Punjab National Bank, in connection with the USD 2 billion fraud in PNB.
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Big development in Nirav Modi case: CBI files charge sheet, names PNB ex chief, senior officials
PTI | May 14, 2018 3:49 PMThe CBI on Monday filed its first charge sheet in the country’s largest financial scam worth over Rs 2 billion in Punjab National Bank by billionaire jeweller Nirav Modi, detailing the alleged role of the bank’s former chief Usha Ananthasubramanian, who is now Allahabad Bank CEO and MD.
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Dealing with Bank NPA: Finance ministry mulls innovative ways
PTI | May 13, 2018 3:47 PMThe finance ministry is examining a proposal to find innovative ways for dealing with burden of NPA provisions by issuing provision shore-up certificates (PSC) to banks.
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
