Banking & Finance

HDFC Life simplifies claim settlement for flood-hit Kerala

HDFC Life said Sunday it has simplified the claim settlement process for life and health policies for customers in the flood-affected Kerala state.

RBI may conduct OMO this week to ease liquidity, say bankers

The Reserve Bank of India (RBI) is likely to conduct an open market operation (OMO) purchase this week to infuse liquidity into the banking system, which is further going to tighten on account of adva

Who is Amitabh Chaudhry? HDFC Life’s CEO all set to replace Axis Bank’s MD and CEO Shikha Sharma

Putting an end to speculations, Axis Bank on Saturday appointed HDFC Life's Amitabh Chaudhry as the bank's CEO and MD after Shikha Sharma retires from the post.

Axis Bank appoints HDFC group’s Amitabh Chaudhry as MD & CEO; to take charge on January 1

Axis Bank said Saturday Amitabh Chaudhry has been appointed its Managing Director & CEO from January 1, 2019 for a period of three years.

Rs 90 crore bank fraud case: ED raids 9 places in Tamil Nadu

The Enforcement Directorate (ED) Saturday conducted searches at nine locations in Tamil Nadu in connection with an alleged Rs 90 crore bank loan fraud money laundering case, officials said.

Bharat bandh impact on banks: No need to worry, banking services will continue ‘as usual’

As on Monday, the Congress has called for a Bharat Bandh to protest high petrol and diesel prices, a bank official has said that it will not impact the banking services and banks work will continue as

HDFC Bank hikes MCLRs by 20 bps across tenures, one-year rate now stands at 8.6%

HDFC Bank, the country’s largest private-sector lender by assets, raised its marginal cost of funds-based lending rates (MCLRs) by 20 basis points (bps) across tenures. Its one-year MCLR now stands

SBI withdraws plan to sell Essar Steel loans post NCLAT order

Country's largest lender State Bank of India (SBI) Friday said it has withdrawn the process of sale of debt of Essar Steel to asset reconstruction companies (ARCs) after the NCLAT asked lenders of the

RBI imposes Rs 1 crore fine on Union Bank of India for delay in fraud detection, reporting

The Reserve Bank of India has imposed a Rs 1 crore penalty on Union Bank of India for failing to detect and report fraud on time.

Anshula Kant appointed SBI Managing Director: Here’s her journey from Probationary Officer to MD

The State Bank of India (SBI) on Thursday said that the government has appointed Anshula Kant as the Managing Director of the bank.

Complying with RBI deadline, PNB, UBI and Andhra Bank put NPAs of Rs 4,441 crore on sale

PNB has put on sale 21 accounts having `1,320 cr outstanding; Andhra Bank's 53 entities have `2,549-cr debt; UBI’s 30 accounts have total outstanding of `572 cr

Bank of Baroda raises MCLR by 5 bps

Bank of Baroda (BoB) on Wednesday followed larger rivals State Bank of India (SBI) and ICICI Bank in hiking lending rates.

Jan Dhan Yojana: Government doubles overdraft limit to Rs 10,000

The government Wednesday decided to make the Pradhan Mantri Jan Dhan Yojana (PMJDY) an open-ended scheme and added more incentives to encourage people to open bank accounts.

Bank of Baroda hikes MCLR by 5 bps across tenors

Bank of Baroda Wednesday said it has increased the marginal cost of funds based lending rate (MCLR) by 0.05 per cent across tenors, days after market leader SBI hiked the rates.

On Teacher’s Day, Paytm’s Vijay Shekhar Sharma heaps praises on HDFC Bank’s Aditya Puri; here’s what he said

Heaping praises on HDFC Bank CEO, Paytm’s Vijay Shekhar Sharma said that he hoped to acquire just 10% of Aditya Puri’s cast banking knowledge.

LIC board explores open offer for IDBI Bank stake

Economic affairs secretary Subhash Chandra Garg said the time-table for completing the transaction has been decided and that an open offer is being explored.

Trying to have a bank since 2000: LIC tells Delhi HC on move to acquire 51% stake in IDBI

The Life Insurance Corporation (LIC) of India on Tuesday told the Delhi High Court that it wanted to acquire 51 per cent stake in the Industrial Development Bank of India (IDBI) as the state-run insur

Banks Board Bureau invites application for post of MD, CEO of Canara Bank

Banks Board Bureau (BBB) has invited applications for the post of managing director and chief executive director of Canara Bank for a three-year term.

ADB unveils new tool to boost access to trade finance

The Asian Development Bank (ADB) on Tuesday launched its first Trade Finance Scorecard, a new tool to address market gaps stemming from the unintended consequences of global measures to fight money-la

Good news for SBI YONO bank account holders! Zero-balance feature may continue for digital accounts

State of India (SBI) chairman Rajneesh Kumar has clarified that the zero balance feature for digital accounts opened through the YONO app will be valid up to March 2019.

ING to pay $900 million to settle Dutch money laundering case

Dutch bank ING Groep NV will pay 775 million euros ($900 million) in a settlement with prosecutors, who accused its financial controls of being so poor that customers were able to easily launder money

Paytm Money launches app for mutual fund investments; 8 key things to know before you invest

Paytm Money app will be available for download on both Google’s Android platform and Apple’s mobile operating system iOS from today.

Banks with over 10 branches to have ombudsman: RBI

The Reserve Bank of India (RBI) on Monday asked all scheduled commercial banks with more than 10 branches to appoint an Internal Ombudsman (IO).

Banks with over 10 branches to have internal ombudsman

The Reserve Bank of India, on Monday, asked all scheduled commercial banks with more than 10 branches to appoint an internal ombudsman (IO). However, the central bank has exempted regional rural banks

Icra keeps ratings of IDBI Bank’s bond programmes under watch

Rating agency Icra Monday said it has placed long-term ratings for Rs 4,286.20 crore upper tier II bonds programme and Rs 1,708.80 crore basel II compliant perpetual bonds of IDBI Bank on Rating Watch

RBI employees’ 2-day mass leave programme deferred

The two-day mass casual leave on September 4 and 5 called by the United Forum of Reserve Bank Officers and Employees (UFRBOE) has been deferred after discussion with the bank management, the union sai

SBI responds to Singapore govt initiative with remittance centre

Responding to Singapore government's initiative for making it "easy lifestyle" for construction workers at dormitories, the State Bank of India has set up a remittance centre in the suburb Punggol dis

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