Bank employees’ unions reject 2 per cent salary hike offer made by IBA, threatens strike

Bank employees' unions have rejected the 2 per cent salary hike offer made by Indian Banks Association (IBA) and threatened to go on strike to press their demand.

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Wage talks fail, bank unions threaten strike

Bank employees and officers are already paid very low compared with the Government employees as well as the private sector.

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CBI's IDBI swoop gives directors, bankers jitters

The inclusion of two independent directors of IDBI Bank in the FIR, and raids carried out on some IDBI executives, who were not named in the FIR, is making the banking sector jittery.

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Riding trend: Axis Bank raises rates on retail fixed deposits

FDs maturing between one year and 14 months will yield 7.1%, 35 basis points higher than earlier.

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BoM plans to raise Rs3k crore, narrows Q4 loss to Rs 113 crore

Bank of Maharashtra is planning to raise Rs 3,000 crore capital in FY19, R P Marathe, MD & CEO of BoM, said on Friday.

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New insurance product to therescue of real estate developers

‘Latent defect policy’ seeks to cover ‘defect liability’ of promoters of residential projects

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RBI to banks: Share foreign exchange data with DRI

Our BureauThe Reserve Bank of India has asked banks authorised to deal in foreign exchange (Authorised Dealer-I Banks) to share data with the Direct

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Bank of Maharashtra loss narrows to ₹113 cr in Q4

PSB plans to raise ₹3,000 cr in capital

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Fintech start-up Rubique eyes threefold growth in FY19

Aims to launch a paperless loan processing product, breakeven in 2021

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PNB Housing Finance net profit up 44% at ₹219 crore

Our BureauPNB Housing Finance (PNBHFL) has reported a 44 per cent increase in net profit for the fourth quarter ended March 31, 2018, at ₹219.2 crore

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Bank of Maharashtra shares surge 8% as Q4 net loss narrows

Shares of Bank of Maharashtra (BoM) today soared 8 per cent after the company reported narrowing of standalone net loss to Rs 113.51 crore for the q

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Cryptocurrency investors bet trading will survive bank ban

A month after Reserve Bank of India barred regulated lenders from facilitating cryptocurrency transactions, trading volumes have surged dramatically

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Cryptocurrency investors in India bet trading will survive bank ban

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India doing extremely well on electrification: World Bank

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Here’s how private banks won from Modi’s crackdown on cash, demonetisation

Modi government's clampdown on unaccounted cash has sent a flood of money into the private banking industry, prompting a major lender to embark on a hiring binge for wealth managers.

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Growth in bank deposits falls to five-decade low

Data from the Reserve Bank of India website shows aggregate deposits in the banking system grew a mere 6.7% in 2017-18, the lowest since fiscal 1963.

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Lenders find a rescue plan for stressed power assets

In a meeting called by SBI, it was decided that the lenders will have to make investments according to their exposure in each power project.

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DHFL Pramerica Life Insurance net up 73% in FY18

Our BureauDHFL Pramerica Life Insurance (DPLI) has reported a 73 per cent increase in net profit in 2017-18 at ₹106 crore. The private life insurer h

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LuLu Financial Group begins operations in Hong Kong

Our BureauLuLu Financial Group, the financial services and payments solution brand, has started operations in Hong Kong with the inauguration of its

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Shriram General Insurance net up 82%

Our BureauShriram General Insurance on Thursday posted an 82 per cent increase in its net profit at ₹400 crore in 2017-18.“Our net profit has risen m

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Axis Bank losses will not impact ratings: S&P

Our Bureau Private sector lender Axis Bank’s rating will not be impacted due to the high losses it posted in its fourth quarter results, global ratin

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Stripping/reconstitution of bonds made easier

Our BureauThe Reserve Bank of India on Thursday said it proposes to remove the restrictions on the securities eligible for stripping/reconstitution,

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Why are Indian banks curtailing their overseas operations?

NS VageeshOver the past month, there were a spate of announcements about Indian banks downsizing their overseas operations – either closing down bran

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Wallets to become interoperable soon

Priyanka PaniThe Reserve Bank of India is likely to unveil this month the final guidelines for digital wallets to be interoperable. The banking regul

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Bank account portability still some time away

Technical issues and the large number of bank accounts are major challenges

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PNB Housing Finance Q4 net up 44 per cent at Rs 219 crore

PNB Housing Finance today reported a jump of 44 per cent in its net profit at Rs 219.20 crore in the last quarter ended March of 2017-18.

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Edelweiss Financial Services Q4 net profit up 46% to Rs 248cr

For the full year, its consolidated profit also grew 46 per cent to Rs 890 crore as against Rs 609 crore in FY17.

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Rubique targets Rs 100 crore monthly revenue by 2021

The company which is integrated with 90 lenders across banks and non banking finance companies has already achieved a revenue of Rs 47 crore over the last three years.

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Aadhaar doesn't pose any privacy issue: Bill Gates

The 62-year-old multi-billionaire entrepreneur and philanthropist said Nandan Nilekani, Infosys founder who is considered as the chief architect of Aadhaar, was consulting and helping the World Bank on the project.

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Bandhan Bank CEO takes CII (ER) office

 Chandra Sekhar Ghosh, Managing Director and CEO of Bandhan Bank, has taken over as the Deputy Chairman of CII Eastern Region (ER). This was announced

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Banks’ recognition of NPAs will be beneficial in the long-term: Moody’s

Our BureauMoody’s Investors Service on Wednesday said that recognition of bad loans by banks will reduce their profitability in the short term, but w

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Housing inflation has risen to 8.3% in 2018, says RBI study

Our BureauHousing inflation started rising sharply since July 2017 and reached 8.3 per cent in 2018, according to a study by the RBI.Housing inflati

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High NPA ratio proves PSBs did not make enough provisions: RBI

Deterioration in asset quality higher than that of private banks

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Challenges galore for Khuntia

G Naga Sridhar Senior IAS officer Subhash Chandra Khuntia, who has been appointed the new Chairman of IRDAI, will be greeted by a calm industry whic

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IRDAI’s new chief to focus on investor education, development

Subhash Chandra Khuntia to take over for three years; industry players look for more clarity on new reporting norms

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Mahindra Finance to foray into financing two-wheelers, consumer durables

The non-bank lender will be looking to get its share in the fast growing but a crowded two-wheeler financing market, a decade after its parent Mahindra & Mahindra entered the highly competitive industry through the acquisition of select assets of Kinetic Engineering.

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Many Nirav Modi like cases: RBI reports whopping 23,000 bank frauds involving Rs 1 lakh crore in past 5 years

Over 23,000 cases of fraud involving a whopping Rs 1 lakh crore have been reported in the past five years in various banks, according to the Reserve Bank of India (RBI).

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ICICI Bank names Radhakrishnan Nair as Independent Director

The appointment of 63-year-old Nair is subject to the approval of shareholders, the private sector lender said in a regulatory filing.

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Radhakrishnan Nair appointed ICICI Bank independent director

Former IRDAI member Radhakrishnan Nair has been appointed to ICICI Bank’s board as an Additional (Independent) Director. His appointment will be for

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ICICI Bank names Radhakrishnan Nair as Independent Director

ICICI Bank today said its board has appointed Radhakrishnan Nair as an additional (independent) director of the bank for five years.

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NCLT orders Binani Cement lenders to consider UltraTech bid

The NCLT had on April 24 reserved its order on the ongoing corporate insolvency resolution process of Binani Cement.

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Over 23,000 bank frauds worth Rs 1 lakh crore reported in 5 years: RBI

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ICICI Bank names Radhakrishnan Nair as Independent Director

ICICI Bank today said its board has appointed Radhakrishnan Nair as an additional (independent) director of the bank for five years.

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IBBI seeks to ‘crowdsource’ ideas on insolvency regulations

The Insolvency and Bankruptcy Board of India (IBBI) has invited comments from public on the broad range of regulations it has already notified under the Insolvency and Bankruptcy Code (IBC), as it seeks to ‘crowdsource’ ideas to further strengthen the ecosystem.

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PNB eyes 11% jump in business in FY19

Punjab National Bank (PNB) — which was recently hit by a $2-billion fraud involving jewellers Nirav Modi and Mehul Choksi — is targeting a decent 10.8% rise in business for the current fiscal to Rs 12 lakh crore, the bank said on Tuesday.

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Advance estimates of growth numbers underestimate reality, says RBI study

Advance estimates need to be supplemented with other high frequency indicators

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FPIs can invest in treasury bills issued by Central Govt: RBI

The Reserve Bank of India on Tuesday clarified that foreign portfolio investors (FPIs) can invest in treasury bills issued by the Central Government.

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After Nirav Modi episode, what Punjab National Bank is doing to curb frauds?

The second largest public sector lender had reported an alleged fraud of over Rs 13,000 crore by diamantaire Nirav Modi in February-March this year.

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Credit norms tightened to curb frauds, says PNB

The process is divided into 4 components with different employees focused on sourcing; appraisal, processing and underwriting; documentation and disbursement and recovery, PNB said.

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PNB will bounce back in 6 months, says CEO

Our BureauPunjab National Bank (PNB), which has been facing a lot of turbulence since January this year, will bounce back in six months, a top offici

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UPI money transactions cross100-crore mark within two years

AJ Vinayak The number of transactions on the National Payment Corporation of India’s (NPCI) Unified Payment Interface (UPI), which is a mobile-only d

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Take action on banks for unfair treatment of customers, AIBEA tells RBI

LN RevathyDisturbed over the frequent, arbitrary and one-sided increase in banking charges, a group of consumer activists, policy watchers, bankers a

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Gems and jewellery exporters want stringent lending norms

To prevent fraud, white paper proposing guidelines on collateral norms, subsidiary financing, to be released on May 11

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Fino Payment Bank using domestic remittances to avoid cash crunch

Priyanka PaniAt a time when consumers are complaining of cash-crunch at ATMs in certain regions, Mumbai-based payments bank Fino Payment Bank is usi

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Fintech players rely on AI to build credit scores for disbursal of loans

Now, customers with no prior credit score can easily get loans

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Subhash Chandra Khuntia appointed as IRDAI Chairman

Former IAS officer Subhash Chandra Khuntia was today appointed as the new Chairman of Insurance Regulatory Development Authority of India (IRDAI) for three-years.

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How Nirav Modi fraud spoiled Narendra Modi’s big plan: Here’s what Fitch has to say

The Rs 13,000 crore Punjab National Bank (PNB) fraud allegedly by diamond czar Nirav Modi has likely spoiled this ambitious plan by Narendra Modi, coupled with higher recognition of NPAs.

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GAIL signs ₹2,000-cr loan agreement with SBI

GAIL (India) Limited and State Bank of India have signed a Rupee Term Loan Agreement of ₹2,000 crores for a door to door tenure of 15 years. A statem

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CBI probes documents on loans to Aircel ex-promoter: IDBI Bank

The state-owned bank had given a loan to Axcel Sunshine Ltd in February 2014, which had turned into a non-performing asset (NPA) or bad loan in December 2015, IDBI Bank said in a regulatory filing.

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