Banking & Finance

Yes Bank recommends name of Brahm Dutt for post of Chairman: Sources

Brahm Dutt, a retired bureaucrat, is currently an independent director on the bank's board, which has eight members.

PSU bank fraud: SBI tops with most employees caught in the act; next on the list is no surprise

In last three years (2015-2017), action has been initiated against 1,287 officials of State Bank of India for their involvement in fraud.

Bank employees to go on nationwide strike on December 26; here’s why

About ten lakh bank employees and officers would take part in the countrywide strike.

Kotak Mahindra Bank vs RBI: Bombay HC refuses to stay grant on Dec 31 deadline for promoter stake dilution

Kotak Mahindra Bank is now required to bring down its promoter stakeholding by 10% over the next remaining 15 days or ready to face action from the central bank.

PFC may approach foreign banks to fund REC stake buy

Power Finance Corporation (PFC) may have to approach foreign banks to raise part of the Rs 7,000 crore it needs to buy out the central government’s stake in REC as public sector banks (PSBs) may hit

Mastercard says will start deleting data of Indian cardholders from global servers; warns of impact

Global card payments major Mastercard has proposed to the Reserve Bank a "certain" date from which it will start deleting data of Indian cardholders from global servers but warned that it would also m

Black money case: Enforcement Directorate seizes assets of Dabur’s Pradip Burman and Emaar MGF’s Shravan Gupta

The Enforcement Directorate (ED) seized assets worth over Rs 30 crore belonging to Dabur India director Pradip Burman and additional MD of Emmar MGF, Shravan Gupta under FEMA act.

Check out! Bank employees to go on nation-wide strike on December 26; here’s reason

The All India Bank Employees Association (AIBEA) which has called for a nation-wide strike on December 26 opposing the merger of Bank of Baroda, Dena Bank and Vijaya Bank, Saturday said the move was u

RBI Governance: Under discussion – Board for further examination of framework

The central board of the RBI on Friday discussed its governance framework and decided the matter required further examination, the central bank said in a statement on its website.

Plain speaking! Government raising issues no threat to RBI autonomy, says Arun Jaitley

Finance minister Arun Jaitley on Friday denied any government intrusion into the Reserve Bank of India’s (RBI’s) autonomous policy turf, arguing that making suggestions on crucial matters wasn’t

State-run banks have no plan to shut ATMs, says government

The public Sector banks (PSB) have no plans to shut down 50 per cent of their ATMs in the country, Minister of State for Finance Shiv Pratap Shukla told the Lok Sabha

PSU banks recovered this whopping amount of bad loans in 4 years to FY18, says minister

Aggressive lending practices, wilful default/loan defaults as well as corruption in some cases and economic slowdown were the primary reasons for spurt in stressed assets.

SFIO yet to submit report on Nirav Modi, Mehul Choksi in PNB scam

A multi-agency probe is already underway into the fraud, which was mainly perpetrated by way of fraudulent Letters of Undertaking (LoUs).

Job loss! Standard Chartered to cut banking jobs in India; gives this reason

The layoffs come at a time the bank is attempting to address investor concerns such as rising expenses and an about 40% decline in the share price since Bill Winters became CEO in June 2015.

RBI Board Meet: No change in governance structure soon

With a new governor at the helm of the Reserve Bank of India (RBI), the government, through its nominees, is unlikely to insist on immediate changes in the way the RBI is being governed at the central

SBI switches to farm lending backed by gold

Between September 2017 and September 2018, SBI’s agri-loan portfolio shrunk 0.3% to `1.9 lakh crore

BoI to hire financial advisor for NPAs sale

Bank of India (BoI) on Thursday sought bids from financial advisors who will be roped in to execute the sale of its non-performing asset (NPA) portfolio, including the processes of due diligence and v

ICICI Bank tops list of most employees caught in fraud

ICICI Bank has topped the list of banks with maximum number of employees on whom action has been taken in the last three years for involvement in frauds.

Wilful defaults: 2,571 FIRs registered, 9,363 recovery suits filed by PSU banks

Public sector banks have filed 2,571 FIRs and 9,363 recovery suits against wilful defaulters till September 30 this year.

Government mulls additional Rs 30,000 cr capital infusion in PSU banks

The government is considering additional capital infusion of up to Rs 30,000 crore in public sector banks as they have been unable to raise required funds from the markets, sources said.

Yes Bank says candidate for chairman post finalised, name to be sent to RBI for approval

On the appointment of Rana Kapoor's successor, the bank said the 'Search & Selection Committee' (SSC) and the board are "on track" to complete the process within the stipulated timeline given by the R

Government may keep FY19 bank recap target at Rs 65,000 crore: Icra

The government is likely to keep its bank recapitalisation target unchanged at Rs 65,000 crore for the current financial year as lenders under RBI's prompt corrective action (PCA) framework will not m

PSUs to identify annual themes for CSR; focus on aspirational districts

Public sector units (PSUs) will now identify central themes for corporate social responsibility activities every year, with 60 per cent of their CSR expenditure dedicated to the thematic programmes, a

SBI plans to disburse agricultural loans digitally: Official

The country's largest lender SBI is running pilot projects to disburse agricultural loans digitally and expects to roll out the services very soon, a top official said Tuesday.

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