Banking & Finance

Bandhan Bank share price nosedives 20% after RBI freezes CEO’s salary, bars from opening new branches

Bandhan Bank shares price today dropped 20% to Rs 451.20, with over 3.7 million equity shares changing hands, as compared with their 30-day average volume of 1.51 million.

Lakshmi Vilas Bank to raise around Rs 2000-cr via pref share sale; appoints JP Morgan for advice

Lakshmi Vilas Bank (LVB) is planning to raise around Rs 2,000 crore in fresh equity capital before the end of the current financial year, and has appointed JP Morgan Chase for advice on the process.

RBI restrictions not to impact business growth, says Bandhan Bank

Bandhan Bank on Saturday said the restrictions imposed by the Reserve Bank of India (RBI) on its branch expansion is not likely to impact its business growth.

IL&FS AGM: LIC, Orix, SBI to subscribe to rights issue worth Rs 4,500 crore to revive debt-struck group

In a major breather to the crippled infra lender and engineering group IL&FS, its largest shareholders LIC and Orix Corp and also SBI Saturday announced they would subscribe to the proposed Rs 4,500 c

Non-compliance: Bandhan Bank barred from opening new branches

RBI has asked Bandhan Bank to stop opening new branches while also freezing chief executive officer Chandra Shekhar Ghosh’s salary.

India’s external debt declines 2.8% to USD 514.4 billion at end-June, says RBI

India's external debt declined 2.8 per cent to USD 514.4 billion at June-end over the previous quarter on account of a decrease in commercial borrowings, short-term debt and non-resident Indian (NRI)

IDBI board to consider allotment of 51% shares to LIC on October 4

State-owned IDBI Bank said Friday its board will meet next week to consider preferential allotment of up to 51 per cent shares to insurance behemoth LIC to acquire the debt ridden bank.

Big trouble for Bandhan Bank: RBI freezes CEO compensation, bars opening new branches

Just a few days after showing the door to founder CEO of Yes Bank, Rana Kapoor, the Reserve Bank of India (RBI) has now tightened the noose on Bandhan Bank.

India’s shadow banking sector likely to face shake-up after default

India's burgeoning shadow finance sector is likely to face a shake-up after defaults at one major lender battered the nation's financial markets in the past week and reinforced worries about credit ri

PCI on MDR sharing: Banks not playing fair with acquirers

The Payments Council of India (PCI) on Thursday accused banks of not sharing the merchant discount rate (MDR) reimbursement for small-value digital transactions with merchant aggregators and acquirers

PNB to raise Rs 8,580 cr from sale of non-core assets in H2

Punjab National Bank (PNB) has set a target to mobilise Rs 8,583 crore in H2FY19 by monetisating non-core assets.

IL&FS in more trouble: 7 defaults in last 15 days; fails to service yet another short-term deposit today

Cash-strapped Infrastructure Leasing and Finance Services (IL&FS) on Thursday defaulted on Rs 52.43 crore worth of short-term deposits, while the total number of defaults reached seven in last 15 days

RBI cancels meeting with IL&FS shareholders ahead of AGM, next date remains unknown

Sources said RBI wants details of the plan for future or corrective action which are to be taken by debt-laden Infrastructure Leasing and Finance Services (IL&FS).

IL&FS default scare could derail India growth story as banks, lenders pare exposure to NBFCs

IL&FS defaults have highlighted the risk of a sharp growth slowdown in Indian economy, as lenders pare exposure to non-banking finance companies, or shadow banks, in India.

Four PSBs seek to raise at least Rs100 cr via non-core asset sales

Four public sector banks (PSBs) on Wednesday put on sale their stakes in various companies to collectively raise at least Rs 100 crore, days ahead of the close of the September quarter.

SBI approves 4 pct stake sale in insurance arm for Rs 482 crore

State Bank of India (SBI) on Wednesday decided to offload 4% of its stake in SBI General Insurance, its general insurance arm, for Rs 482 crore to an alternative investment fund promoted by Axis AMC a

Aadhaar very convenient for opening bank accounts: SBI chief Rajnish Kumar

State Bank of India's chairman Rajnish Kumar Wednesday termed the government's flagship Aadhaar scheme a 'great facility' as it has made the process of opening of bank accounts very convenient.

Punjab National Bank, Indian Bank to offload entire stakes in credit info firm Experian

Punjab National Bank and Indian Bank will offload their entire stakes in information services and data analytics firm Experian, according to a bid document released Wednesday.

Loans up to Rs 1 crore to MSMEs in just 59 minutes: FM Jaitley launches credit portal; check key features here

In a bid to boost credit availability to Micro, Small and Medium Enterprises (MSMEs), Finance Minister Arun Jaitley has launched a web portal through which one can avail loans up to Rs 1 crore in just

Deutsche Bank mulls merger scenario with UBS, says Handelsblatt report

Deutsche Bank has looked at a theoretical scenario of merging with UBS, the German business daily Handelsblatt reported on Wednesday, citing people familiar with the matter.

Uncertainty looms at Yes Bank after board meet, will RBI change decision on Rana Kapoor’s tenure?

After Yes Bank’s board sought extension on CEO Rana Kapoor’s term to September 30th 2019 for completion of statutory AGM process, the RBI is unlikely to change its initial decision.

IL&FS debt: Not just Indian, nearly 25 foreign arms of group also booked losses in FY18; check details

Not just in India, IL&FS is facing financial troubles outside the country as well with nearly 25 of its 53 foreign arms have booked losses for FY18, according to its latest annual report.

RBI to conduct OMO purchase worth $40 billion by March-end, says Bank of America Merrill Lynch

Reserve Bank of India (RBI) is like to conduct additional open market operation (OMO) purchase worth USD 40 billion by March end to provide durable liquidity and contain rising government bond yields,

Bad debts on a decline, loan recovery picking up of PSU banks, says Finance Minister Arun Jaitley

Finance Minister Arun Jaitley Tuesday said bad debts or NPAs in the banking system are on the decline as recoveries of unpaid loans have picked up.

Yes Bank board meeting ends; seeks more time for CEO Rana Kapoor beyond January 2019

The much-awaited Yes Bank board meeting ended with the board seeking the extension of CEO and MD Rana Kapoor beyond January 31, 2019.

RBI needs to cut CRR to improve liquidity, says government official

The RBI should consider lowering Cash Reserve Ratio (CRR) in addition to buying government bonds to ensure adequate liquidity, an official said Tuesday.

Videocon goes to bankruptcy! Bids invited for Venugopal Dhoot’s company under IBC

Once a household name and successful brand, Videocon Industries is going into bankruptcy for defaulting on debt worth Rs 20,000 crore.

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