Banking & Finance

SBI to recover dues worth over Rs 3,900 crore by selling 8 NPAs

SBI has asked the interested ARCs and financial institutions (FIs) to conduct the due diligence of these assets with immediate effect after submitting expression of interest and executing a non-disclo

Consolidation: Modi government to merge Dena Bank, Bank of Baroda and Vijaya Bank

Combined entity to be the country’s third-largest lender, other two strong enough to absorb Dena’s PCA shock.

RBI rejects Maharashtra Bank request to set off Rs 2,543 cr losses against share premium amount

The Reserve Bank has rejected Bank of Maharashtra request to set off over Rs 2,543-crore losses against the balance in its share premium account.

Banks merger a progressive step, says Industry body Ficci

Industry body Ficci Monday termed the government's decision to merge three state-owned banks as a progressive move, noting that it signifies the government's commitment to strengthen the banking secto

CBI takes over probe in Rs 1200 crore illegal fund transfers in Union Bank of India in 2016

The CBI has taken over investigation into alleged swindling of USD 171 million (about Rs 1,200 crore) from the Union Bank of India by hackers in 2016, officials said Monday.

NPA provisions for banks may stay elevated till FY20, says report

Banks are witnessing a spurt in asset quality stress in the non-corporate segment and the overall loan loss provisions for lenders are expected to stay elevated till the fiscal year 2019-20, a report

PayU takes next leap, gets RBI approval for NBFC

PayU India has received RBI approval to operate its own NBFC providing a boost to Naspers-backed fintech major in increasing its consumer credit business across the country.

Bank of India hopes to raise Rs 1,000 crore by selling non-core assets, real estate

State-run Bank of India is looking to raise nearly Rs 1,000 crore through selling stake in some of its non-core assets and real estate properties.

Number of Jan Dhan account holders reach 32.61 crore as 20 lakh join modified scheme

As many as 20 lakh people have joined the modified Pradhan Mantri Jan Dhan Yojna (PMJDY), taking the total number of account holders in the flagship financial inclusion programme to 32.61 crore as on

RBI to purchase G-secs worth Rs 10,000 cr next week

The Reserve Bank Friday announced it will purchase government securities (G-secs) worth Rs 10,000 crore on September 19, a move aimed at inducing liquidity in the system.

SBI denies any laxity on its part in dealing with fugitive Vijay Mallya case

India's biggest lender SBI said Friday there was no laxity on its part in dealing with loan default by now defunct Kingfisher Airlines of fugitive liquor baron Vijay Mallya.

Lehman Brothers collapse: Lessons for India on rising NPA problem

It’s going to be ten years since Lehman Brothers collapse hit the US on September 15, 2008, triggering a financial crisis all across the world.

This German bank sees more consolidation after merging 19 times, no layoffs in 156 years

The number of German banks has been declining for years. One lender that is fueling this trend is located right in the country’s financial capital.

Who is Vibha Padalkar? HDFC Life’s new MD, CEO who is replacing Amitabh Chaudhry

HDFC Standard Life Insurance appointed Vibha Padalkar as its MD and CEO for a period of three years effective Wednesday.

ICICI Bank warns of too much focus on tech-driven lending

Stating that people can "game" credit bureau scores and doubt the authenticity of tax returns, a top ICICI Bank official has cautioned against excessive use of computer algorithms in lending and has c

RBI’s ICE framework: Banks need to take 40-60% haircut on stressed debt to get RP4 rating, says report

RBI in its revised framework had said all resolution plans involving restructuring or change in ownership for large accounts where the aggregate exposure of lenders is Rs 100 crore and above would req

Yes Bank raises USD 400 million through syndicated loan facility

Private sector lender Yes Bank Tuesday said it has raised USD 400 million (approx Rs 2,894 crore) by way of syndicated loan facility, through IFSC Banking Unit in Gujarat International Finance Tec Cit

RBI nominee on PSU boards create illusion of regulatory control, says Raghuram Rajan

Former RBI Governor Raghuram Rajan is not in favour of having an RBI nominee on the boards of public sector banks, saying it creates an "illusion that the regulator is in control".

Yes Bank raises $400 million through syndicated loan facility

Private sector lender Yes Bank Tuesday said it has raised USD 400 million (approx Rs 2,894 crore) through syndicated loan facility, borrowed out of its IFSC Banking Unit (IBU) in Gujarat International

EXCLUSIVE: Farmers’ loan distress will continue if there’s no comprehensive insurance, says Rabo Equity CMD

Food processing is a great sector and Rabo will continue to focus on “high value” processing sector, said Srivastava, adding that the golden opportunity will lie in all those areas where productio

NPA mess: What ex-RBI governor Raghuram Rajan suggests to tackle bad loan problem

The governance of public sector banks (PSBs) and monitoring process of non-performing assets (NPAs) needs improvement in order to tackle the growing problem of bad loans, said former Reserve Bank of I

Insolvency case: ICICI Bank moves NCLT against JP Associates

ICICI Bank on Monday filed an insolvency case against Jaiprakash Associates before the Allahabad bench of the National Company Law Tribunal (NCLT), which issued notices to the latter seeking a reply b

India Post Payments Bank: How IPPB could be game changer for micro enterprises

The India Post Payments Bank (IPPB) was set up under the Department of Posts, Ministry of Communication, and formally launched by Prime Minister Narendra Modi on September 1, 2018.

Matter of concern: Bank deposit growth lags for a year

Double-digit growth in deposits has eluded banks for a year now with the rate of growth of households savings moderating and more surpluses finding their way into mutual funds.

Indian insurance to be $280 billion industry by 2019-20: Assocham

The Indian insurance industry is expected to grow to $280 billion by 2019-20, aided by the Centre's Ayushman Bharat health insurance scheme, industry chamber Assocham said on Sunday, citing a joint st

RBI issues new guidelines for note refund – How to reimburse Rs 2,000, Rs 500, other notes if mutilated

The Reserve Bank of India (RBI) on Friday made amendments to Reserve Bank of India (Note Refund) Rules, 2009.

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