Banking & Finance

PNB board approves amalgamation with OBC, United Bank

The board of Punjab National Bank (PNB) has given in-principle approval for amalgamation of Oriental Bank of Commerce and United Bank of India with PNB.

The government on Friday announced infusion of Rs 16,000 crore in PNB for a smooth and seamless amalgamation. News

Enough liquidity in banking system to fund auto sector: Uday Kotak

Billionaire banker Uday Kotak said there is enough liquidity in the banking system to finance any form of vehicle despite the slowdown in the economy, while stressing on the need for manufacturers to

Banking & Finance News

Banks sold stressed assets worth Rs 3.79 lakh cr till FY19; resolution process catches pace

The prudential framework enables the sale of stressed standard assets, which are in default, as part of the resolution process.

PSU Bank Merger, Bank Merger and Consolidation, Mega Merger Deadline News

Good news for borrowers: New retail, MSME loans to get cheaper as RBI makes repo linking mandatory

The RBI has cut the benchmark lending rate by 110 basis points since February but banks have transmitted only a fraction of that.

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Digital incentives: Banks may seek framework to carry out zero-MDR order

Fintechs demand rollback of Budget proposal to do away with the fee paid by merchants for accepting digital payments

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RBI makes it mandatory for banks to link retail loans with external benchmarks from October 1

In a circular issued on Wednesday, the Reserve Bank of India (RBI) said it has been observed that due to various reasons, the transmission of policy rate changes to the lending rate of banks under the

RBI, retail loans, floating-rate loans for housing, MSME, MCLR, FBIL News

Why PSU banks mega merger plan is good despite opposition from trade unions

In the second round of merger, 6 PSU banks will merge with 4 larger banks. The move is aimed at increasing the efficiency of public sector banks.

PSU Bank Mega Merger, SBI, PNB, Bank of Baroda News

Union Bank of India board meeting on September 9 to approve amalgamation

The government on August 30 unveiled a mega plan to merge 10 public sector banks into four.

UBI, union bank of india News

NPAs likely to come down by this fiscal, but assets over Rs 1 lakh crore still not recognised as bad loans

Even as gross non-performing assets (NPAs) are expected to come down marginally by end of ongoing fiscal, assets over Rs 1 lakh crore that are under pressure are still to be recognised as bad loans, a

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Canara Bank board to meet next week to consider Rs 9,000-crore capital infusion

Last week, the government unveiled a mega plan to merge 10 public sector banks into four with a view to creating fewer and stronger global-sized lenders with robust balance sheets that can be used to

As per the announcement, Syndicate Bank will merge with Canara Bank News

Allow FPIs, insurers, MFs, PFs to buy bad loans directly, task force tells RBI

In order to address the issue of possible volatility that may emerge by allowing foreign players, a scheme similar to that of the Voluntary Retention Route (VRR) for FPI investments in debt markets ma

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Rewarding failure? IDBI Bank to get Rs 9,300 crore from govt, LIC

On August 27, S&P Global Ratings placed IDBI Bank’s ‘BB/B’ ratings on “credit-watch negative” after regulatory capital breach. The bank’s capital to risk weighted assets ratio (CRAR) had s

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PSBs’ credit growth likely to slip: Credit Suisse, Jefferies

The credit growth of the PSBs involved in the merger process is likely to slow down for some time even though the government allocated `55, 200-crore capital

PSB, exercise, bank, operations,  India, MSME, agriculture credit, export credit, industry news, banking news

Indian Bank expects to emerge as modern lender with global focus

Indian Bank has a strong presence in South whereas Allahabad Bank is present in northern and eastern India.

Indian Bank, Indian Bank vehicle loans, Indian Bank home loans, Allahabad bank, bank merger News

SBI Chairman on slowdown: Auto loans may have less demand, home loans see good growth

Even as demand for auto loans sees a reduction, there is growth in home loans, a veteran banker said. A pick up is being witnessed in the affordable housing space, SBI Chairman Rajnish Kumar said.

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UPI gives tough competition to mobile wallets; trusted more for high value transactions

Unified Payments Interface (UPI) as a mode of mobile payments is giving tough competition to mobile wallets in merchant transactions and recharges, while also dominating higher valued person-to-person

NEFT, NEFT 24x7, National Electronic Fund Transfer, RBI, monetary policy, Real Time Gross Settlement, RTGS, digital payments News

Mega PSU bank mergers not to revive credit growth, improve bottomline, says report

The government had also said it would infuse Rs 52,250 crore into these 10 banks to boost their balance-sheets.

Banking & Finance News

Indian Bank expects to complete merger with Allahabad Bank by March 31

Currently, Indian Bank has a strong presence in South India whereas Allahabad Bank is present in northern and eastern India.

Banking & Finance News

Merger woes: Bank officers associations to meet in Delhi on September

Besides, Indian Bank will be merged with Allahabad Bank making it the seventh-largest state-owned bank Andhra Bank is the second city-based bank which will lose its geographical identity.

Banking & Finance News

Banks merger: India plans mega banks but analysts say bet on rivals instead

The NSE Nifty Bank Index, a gauge of 12 lenders, dropped 1.4%, while the NSE Nifty PSU Bank Index -- comprising 12 state-owned banks -- slid 3%. Punjab National Bank’s 5.6% decline was the most amon

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Consumer finance: Growth at NBFC/HFCs still decelerating

Risk aversion may take time to ease; HDFC/LICHF among HFCs and BAF/MMFS among NBFCs are preferable

Banking job, PSU bank, private banks, recruitment in banks News

Panel blames lack of level playing field, discriminatory regulation for high level of cash in system

Fintech: The panel said there should not be any discrimination between banks and non-banking companies.

Digital Payments, PayTM, PhonePe, Mobiquik,, Online Banking, NEFT, RTGS, OTP, IMPS, Wallet, Paytm News

NPA crisis: PSU banks likely to revamp Mudra scheme

A source told FE that all aspects of the Mudra scheme — including geographical reach, bad loans and need for better features, enhanced access to the intended beneficiaries — are being reviewed by

NPA crisis, PSU banks, Mudra scheme, NPA risks, Raghuram Rajan, MSME, Mudra loans, Kisan Credit Card, SIDBI News

SBI Card to soon issue Rupay credit cards, says CEO Hardayal Prasad

Presently, the credit card segment is dominated by the US-based payment gateways like Visa and Mastercard.

The Rupay will become very popular and will be used in India aggressively. News

Federal Bank to link savings deposit rate to external benchmarks

The Reserve Bank of India has been cajoling banks to move their interest rates to external benchmarks like its repo rate, at which it lends to the system, in order to faster transmission of its policy

The Federal Bank said from September 1 its savings deposits up to Rs 2 lakh will earn interest in tandem with the repo rate. News

Allahabad Bank executive director sees good synergies with Indian Bank

The proposed merger of Kolkata-headquartered Allahabad Bank and Chennai-based Indian Bank will make the merged entity the seventh largest bank in India.

Allahabad Bank, Indian Bank, bank merger, K Ramachandran, non performing asset ratio, NCLT News

Cheaper loans: Union Bank of India cuts MCLR across various tenors from September 1

Earlier this month, the bank also introduced repo linked lending rate (RLLR) for new home loans and vehicle loans.

Banking & Finance News
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