SLBC confirms 100% Jan Dhan coverage in Dakshina Kannada

The State-level bankers’ committee (SLBC) of Karnataka has permitted the lead bank of Dakshina Kannada district for confirmation of 100 per cent coverage of households under the Prime Minister’s Jan Dhan Yojana (PMJDY).This was revealed at the Dakshina Kannada district-level review committee meeting of bankers in Mangaluru on Tuesday.Amarnath Hegde, Chief Manager of the Lead Bank of the district, informed the meeting that the district-level PMJDY implementation committee in its meeting on November 7 had decided to send a proposal to the SLBC...

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YES Bank raises $200-mn loan from ADB

YES Bank has raised $200-million unsecured loan from the Asian Development Bank to finance working capital and investment loans for small farm households and rural women in self-help groups.Additionally, ADB will also provide a capacity development technical assistance grant of up to $1 million to YES Bank, the private sector bank said in a statement.The grant will be used by the private sector bank for capacity building, improving the financial literacy of women borrowers, and for leveraging the YES livelihood enhancement action programme,...

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Allahabad Bank gets nod to raise funds via QIP

Allahabad Bank obtained board approval for raising capital from various means including Qualified Institutional Placement (QIP).The board at its meeting held Monday have discussed and approved in principle the raising of capital of the bank through preferential or QIP issue, Allahabad Bank said in a statement.Funds would be raised in such a manner that the equity shareholding of the Government of India will not go below 52 per cent.The government holding in the Kolkata-based banks stood at 58.90 per cent at the end of September 2014.Keeping...

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RBI staff to join banking sector strike on Jan 7

Reserve Bank employees have decided to observe a strike on January 7, 2015, in solidarity with the cause of the United Forum of Bank Unions in the commercial banking sector.The All-India Reserve Bank Employees Association and the All-India Reserve Bank Workers’ Federation have urged the RBI Governor to intervene to bring peace in the banking sector, stating that the RBI cannot remain a mute spectator.The Association and Federation advised units to observe peaceful and organised action in all RBI offices and liaise with units of the United Forum...

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