Banking & Finance

Modi government appoints MDs, CEOs in ten nationalised banks – Here are names, banks details

Mrutyunjay Mahapatra and Padmaja Chundru, both deputy managing directors in State Bank of India, have been appointed as managing director and chief executive officer of Syndicate Bank and Indian Bank

RBI allows Rana Kapoor to continue as Yes Bank MD, CEO till January-end

The Reserve Bank has allowed Rana Kapoor to continue as Yes Bank MD and CEO till January 31, 2019, the bank said Wednesday in a regulatory filing.

ICICI Bank, other related entities have not filed for settlement, says Sebi

Regulator Sebi clarified on Wednesday that it has not received any settlement application from ICICI Bank or any other entity with respect to the probe into alleged regulatory lapses involving its CEO

Nitin Gadkari blames banks for stalled infrastructure projects; says, need lending support

Loans to road contractors and bank guarantees for projects have dried up, threatening to stall India’s plans to build more than 84,000 kilometers (52,195 miles) of roads by 2022.

Bank of Baroda, Dena Bank, Vijaya Bank merger stuns market; listed banks lose Rs 20,000 crore in market value

Modi government has been seeking to clean up its banking system, with half of the firms in the public sector already in the central bank’s intensive-care program.

Bank merger: Analysts flag integration issue

While the combined entity will be the third-largest bank in terms of loans of Rs 6.4 lakh crore and the second largest in terms of deposits of Rs 8.41 lakh crore, analysts worry about integration issu

ICICI Bank has replied to show cause notice, says markets regulator Sebi

Markets regulator Sebi Tuesday said that the ICICI Bank has replied to its show cause notice with respect to a probe into alleged regulatory lapses involving its CEO Chanda Kochhar, her husband and hi

ICICI Bank seeks settlement through consent on Kochhar issue, says Sebi chief Ajay Tyagi

Markets regulator Sebi Tuesday said that the ICICI Bank has replied to its show cause notice with respect to a probe into alleged regulatory lapses involving its CEO Chanda Kochhar, her husband and hi

New entity post banks’ merger to be operational from April 1

The new entity to be formed with the merger of Bank of Baroda, Vijaya Bank and Dena Bank will be operational in the beginning of the next financial year, sources said.

SBI to install solar panels over 10,000 ATMs in two years

In a step towards becoming carbon neutral, country's largest lender State Bank of India (SBI) is looking to install solar panels over around 10,000 ATMs across the country in the next two years, a sen

PNB shareholders approve ESPS scheme; Rs 2,816 crore capital infusion by government

Shareholders of Punjab National Bank (PNB) Tuesday cleared proposal for selling 10 crore equity shares to the employees of the bank and Rs 2,816 crore capital infusion by the government.

Bank of Baroda, Vijaya Bank and Dena Bank merger to improve efficiency, governance: Moody’s

Moody's said BoB and Vijaya Bank have relatively better credit metrics than Dena Bank in terms of asset quality, capitalisation and profitability.

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.

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