Sub-limit in insurance

Sub-limit in insurance means a monetary cap on a particular cover under a policy.For instance, consider a travel insurance policy.For a $5 lakh cover, from Business Line - Money & Banking https://ift.tt/2IRJy...

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Insurancce Uncovered

The following are some of the frequently asked questions in property insurance, compiled from IRDAI’s website:What are the different types of propert from Business Line - Money & Banking https://ift.tt/2KBgc...

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Floating a healthy cover for joint families

Royal Sundaram’s Family Plus is cost-effective and comprehensive from Business Line - Money & Banking https://ift.tt/2IyYr...

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Bank of India to get Rs 1,993 cr from Tata Steel-Bhushan Steel deal

The state-owned Bank of India (BoI) would be able to realise around Rs 1,993 crore from the first successful NCLT resolution concerning Tata Steel a from Business Line - Money & Banking https://ift.tt/2IvrW...

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BoI to get Rs 1993 cr from Tata Steel-Bhushan Steel deal

The state-owned Bank of India (BoI) would be able to realise around Rs 1993 crore from the first successful NCLT resolution concerning Tata Steel and Bhushan Steel, an official said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2rUOp...

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Bank of India to get Rs 1993 crore from Tata Steel-Bhushan Steel deal

The amount would not include hair-cuts, BoI managing director and chief executive officer D Mohapatra said. from Banking/Finance-Industry-The Economic Times https://ift.tt/2Ivff...

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NCLT appoints IRPs for Rcom, units

With the IRPs taking charge, RCom can no longer sell assets on its own. It had signed a deal to sell its spectrum to Jio to pare debt. from Banking/Finance-Industry-The Economic Times https://ift.tt/2IQff...

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Acquisition of Bhushan Steel by Tatas historic breakthrough: Piyush Goyal

Finance Minister Piyush Goyal today said the purchase of debt-ridden Bhushan Steel by a Tata Group company under the IBC proceedings as a "historic breakthrough" in resolving legacy issues of banks. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ItIK...

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IBC a big success story for cleaning banking system: Financial Services Secretary Rajiv Kumar

The acquisition of debt-ridden Bhushan Steel by Tata Steel reflects success of the insolvency and bankruptcy law which will help in cleansing the banking system as well as boost lenders' profitability, Financial Services Secretary Rajiv Kumar said today. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2rQDq...

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ICSI to provide insurance cover for its members

Our BureauThe Institute of Company Secretaries of India (ICSI) has tied up with New India Assurance and Oriental Insurance to protect its 55,000 memb from Business Line - Money & Banking https://ift.tt/2GviA...

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RBI slaps ₹5-cr penalty on South Indian Bank

Our BureauThe Reserve Bank of India (RBI) has imposed a penalty of ₹5 crore on South Indian Bank (SIB) for non-compliance with its directions on Inc from Business Line - Money & Banking https://ift.tt/2rUXP...

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Payswiff sees three-fold rise in digital transactions

Fintech company’s transactions in FY18 hit 10-crore mark from Business Line - Money & Banking https://ift.tt/2k9BU...

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Choice Broking inks ₹32-cr buyout deal with Inditrade

Pact includes latter’s stock broking business, demat services and franchise network from Business Line - Money & Banking https://ift.tt/2rU9M...

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Inditrade enters MSME lendingwith merchant cash advances

To focus on those who do not have access to the banking system from Business Line - Money & Banking https://ift.tt/2k98K...

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Mortgage guarantee, a boost to home-loan lenders

NS VageeshMahesh Misra, CEO, India Mortgage Guarantee Corporation, describes his business as a B2b2c company.Morgage guarantee provides a backstop ar from Business Line - Money & Banking https://ift.tt/2rU9E...

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CBI charge sheets Hyderabad based company

The accused have been charge sheeted on charges of criminal conspiracy and cheating for causing loss of Rs 313.84 crores (appox) to Union Bank of India. from Banking/Finance-Industry-The Economic Times https://ift.tt/2KB3N...

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India Post tailors affordable life policies for rural segment

India Post plays an important role in financial services, reaching out in the rural areas with its large and efficient network. It has a long tradit from Business Line - Money & Banking https://ift.tt/2k5Jz...

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RBI supervising banks more actively after Modi came to power, says FinMin Piyush Goyal

The Reserve Bank of India (RBI) has become more active in supervising banks since the Modi government arrived in comparison to the past governments, said Finance Minister Piyush Goyal. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2k8bH...

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Monetary policy committee to meet for three days from June 4

The Reserve Bank of India has advanced the Monetary Policy Committee (MPC) meeting by a day to June 4 and also increased the duration to three days from Business Line - Money & Banking https://ift.tt/2Kvgd...

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Centre promises help to 11 PSBs under PCA net

Finance Minister Piyush Goyal meets bank chiefs from Business Line - Money & Banking https://ift.tt/2ILaM...

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Regulator warns PNB over inordinate delay in disclosures

SEBI’s stricture relates to compliance in Nirav Modi scam from Business Line - Money & Banking https://ift.tt/2wS5p...

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We are trying to ‘catch the wave before rates go up’

K Ram Kumar / Priyanka PaniDewan Housing Finance Corporation (DHFL) is planning to raise up to ₹12,000 crore via a public issue of non-convertible de from Business Line - Money & Banking https://ift.tt/2IwFy...

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Over Rs 10 lakh crore invested in telecom sector: COAI

The COAI in a statement said: "Rs 10.4 lakh crore have been invested so far by Telecom Service Providers (TSP) in building a world class telecom infrastructure." from Banking/Finance-Industry-The Economic Times https://ift.tt/2rNMu...

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Central Bank Q4 loss widens to ₹2,113 cr on higher provisioning

Our BureauDue to huge loan-loss provisioning, Central Bank of India’s net loss widened to ₹2,113 crore in the fourth quarter ended March 31, 2018, ag from Business Line - Money & Banking https://ift.tt/2k81k...

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Bajaj Finserv net up 28% on robust insurance, lending biz

Our Bureau Non-banking financial services firm Bajaj Finserv (BFS) has posted a net profit of ₹685 crore, up 28 per cent, during the quarter ending M from Business Line - Money & Banking https://ift.tt/2KvUz...

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DHFL’s ₹12,000-cr bond issue to open on May 22

Our BureauMortage lender Dewan Housing Finance Corporation (DHFL) will open its ₹12,000-crore non-convertible debenture (NCD) issue for subscription from Business Line - Money & Banking https://ift.tt/2k6I4...

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Muthoot Finance net up 46% at ₹1,720 crore

Our Bureau Muthoot Finance has registered a 46 per cent increase in net profit at ₹1,720 crore during 2017-18 against ₹1,180 crore in the previous ye from Business Line - Money & Banking https://ift.tt/2KzKK...

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Productivity to go up as cobots enter Indian banking sector

Universal Robots joins hands with G+D for human-friendly automation from Business Line - Money & Banking https://ift.tt/2k6HE...

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RBI tweaks norms for setting up of IFSC Banking Units

Modifying the norms for setting up IFSC Banking Units, RBI said today that the parent bank will be required to provide and maintain at all times a minimum capital of USD 20 million to its IBU. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Kyu3...

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RBI tweaks norms for setting up of IFSC Banking Units

In April 2015, the Reserve Bank had formulated a scheme for setting up of International Financial Services Centres (IFSC) Banking Units (IBUs) by banks in IFSCs. from Banking/Finance-Industry-The Economic Times https://ift.tt/2L7UK...

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Inditrade Capital to sell equity broking unit to Choice International for Rs 32 crore

People in the know said that Inditrade is exiting equity broking, which was its bread and butter initially, as the company now plans to focus solely on lending to small and unbanked customers. from Banking/Finance-Industry-The Economic Times https://ift.tt/2k6X0...

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Dewan Housing plans to raise Rs 50,000 cr in FY19

Mortgage lender Dewan Housing Finance (DHFL) is planning to raise Rs 50,000 crore through the debt market and bank borrowings in the current financi from Business Line - Money & Banking https://ift.tt/2rNMG...

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Dai-ichi Life Holdings invests in Union AMC

Japan based financial services company, Dai-ichi Life Holdings invested 39.62 per cent of the share capital of Union Asset Management Company Pvt. Lt from Business Line - Money & Banking https://ift.tt/2L3GJ...

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More people signing up for SBI credit cards as online discounts, cashbacks drive spending in small cities

E-commerce is driving growth for SBI Card in smaller cities as more than 45 percent of overall card spends for the company are coming outside the top 10 cities. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2k8G8...

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'Keep in abeyance' non-independent director Arun Rao's appointment: RBI to Dhanlaxmi Bank

Earlier on May 15, the bank had announced the appointment of Rao as a new additional non-independent director on its board. from Banking/Finance-Industry-The Economic Times https://ift.tt/2rQ29...

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How to invest in Atal Pension Yojna

The scheme, which is administered through the NPS, is primarily targeted at the unorganised sector from Business Line - Money & Banking https://ift.tt/2InrA...

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SEBI warns PNB for late disclosures regarding Nirav Modi scam

Taking serious note of the delay in making disclosures, markets regulator SEBI has warned PNB that it should promptly comply with mandatory norms on from Business Line - Money & Banking https://ift.tt/2Ip0y...

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Finance Minister Piyush Goyal vows to clean up banking sector

Goyal, who was earlier this week given temporary charge of the finance ministry until Arun Jaitley recovers after undergoing a kidney transplant, met heads of public sector banks here today. from Banking/Finance-Industry-The Economic Times https://ift.tt/2IqEH...

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Centre promises to help PSU banks come out of PCA framework

Finance Minister Piyush Goyal holds meeting with the chiefs of 11 PSU banks from Business Line - Money & Banking https://ift.tt/2rOXS...

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Finance Minister Piyush Goyal says will bring banks back on track from UPA’s reckless lending binge

Putting onus for the rising bad loan problem on the previous government, Finance Minister Piyush Goyal on Thursday said that the reckless lending initiated under the last UPA regime resulted in banking sector getting financially stressed. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Iv9g...

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Former RBI Governor Raghuram Rajan says won't apply for top Bank of England job

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2rPya...

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Yes Bank to raise whopping USD 1 billion via share sale

Private sector lender Yes Bank today said it seeks to raise USD 1 billion (about Rs 6,700 crore) by selling shares by way of a public issue, preferential issue or issuance of ADR and GDR. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KtiG...

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Credit card player SBI Card looks to grow at 40% in FY19

Credit card player SBI Card is looking to continue growing at a 40 per cent CAGR in the current financial year on rise in card issuance and total spends, a top company official said today. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2rMX6...

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Inditrade Group looks to grow inorganically

The group plans to grow aggressively to raise stakes among the micro and small borrowers. The capital will be raised in a combination of equity and debt. from Banking/Finance-Industry-The Economic Times https://ift.tt/2ItCs...

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BPR exercise drives growth at Magma Fincorp

Company to focus more on strategy and improving customer connect from Business Line - Money & Banking https://ift.tt/2L5qm...

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A new milestone for SBI Card

Total cards issued cross 60-lakh mark from Business Line - Money & Banking https://ift.tt/2GoWg...

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Max Life invests ₹175 cr in Pune commercial building

To diversify the overall risk in the portfolio from Business Line - Money & Banking https://ift.tt/2rN4w...

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High leverage, weak returns trouble PSBs

Sharp rise in NPAs has accentuated the problem over the past year from Business Line - Money & Banking https://ift.tt/2Gpm0...

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Murugappa Group to invest Rs 2000 crore in capex over the next two fiscals

The capex, group CFO Sridharan Rangarajan said would be allocated towards a gas-based power plant in silicon carbide maker Volzhsky Abrasive Works, a Carborundum Universal subsidiary. from Banking/Finance-Industry-The Economic Times https://ift.tt/2wV1z...

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Inditrade plans to foray into housing finance segment

We have applied for licence. The applications (are filed) with the regulator National Housing Bank and we are awaiting approval, Inditrade Group of Companies Chairman Sudip Bandyopadhyay said. from Banking/Finance-Industry-The Economic Times https://ift.tt/2It6q...

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Infosys sets up blockchain-based trade finance network with seven banks

Finacle also in talks with overseas lenders from Business Line - Money & Banking https://ift.tt/2rNJx...

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PNB scam: CBI files chargesheet against Mehul Choksi, Gitanjali group

The CBI on Wednesday filed its chargesheet against billionaire jeweller Mehul Choksi and 17 other entities, including companies owned by him and other individuals, in connection with the over USD 2 billion Punjab National Bank (PNB) scam. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IqbJ...

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India’s second largest PSU lender PNB must stop doing this one thing: lending money

Other than the embarrassment of asking the country’s second-largest state-run lender to, well, stop lending, there’s no other reason why India should allow Punjab National Bank to advance even one rupee to anybody except the government. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2rLTn...

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Biggest ever loss in PNB Q4 results! How stressed is India’s 2nd largest PSU bank: 5 key points

India’s second largest PSU bank PNB (Punjab National Bank) on Tuesday posted biggest ever quarterly loss by any bank in India, largely due to the crater caused by the Rs 13,000-crore fraud allegedly involving billionaire diamantaire Nirav Modi and his uncle Mehul Choksi. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KuAS...

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ICICI Bank-Videocon loan case: I-T dept questions Venugopal Dhoot

Dhoot appeared before the designated probe officer at the I-T department office in Mumbai after he was issued summons to join the investigation. He was questioned for about four hours. The case pertains to a possible and alleged tax evasion angle in ICICI Bank issuing a Rs 3,250 crore loan to the Videocon Group in 2012. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2GkUP...

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Scam-hit PNB sinks into ₹13,420-cr Q4 loss

Higher-than-neededprovisioning makes for largest quarterly loss posted by any bank from Business Line - Money & Banking https://ift.tt/2rJWU...

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Lender Edelweiss turns bidder for shipbuilder Bharati Defence

Bid approved by Committee of Creditors from Business Line - Money & Banking https://ift.tt/2L449...

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PNB fraud: Nirav Modi’s ex-director moves HC for quashing Look Out Circular

A former director of diamantaire Nirav Modi's company today moved the Delhi High Court seeking quashing of a Look Out Circular (LOC) issued against him after lodging of an FIR by the CBI in the PNB fraud case. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KrgX...

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RBI imposes penalty on Cooperative bank

The Reserve Bank of India has imposed a penalty of ₹50,000 on Universal Co-operative Urban Bank Ltd, Mancherial, Telangana with respect to violations from Business Line - Money & Banking https://ift.tt/2Gk8q...

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APGVB net profit up 43% at₹503 cr as net NPAs decline

Valuations under way forproposed IPO from Business Line - Money & Banking https://ift.tt/2KZ3k...

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Karnataka Bank Q4 net profit plunges 92%

Our Bureau Karnataka Bank registered a net profit of ₹11 crore in the fourth quarter of 2017-18 against a profit of ₹138.37 crore in the correspond from Business Line - Money & Banking https://ift.tt/2Ghjn...

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Thomas Cook eyes airports to set up forex counters

Our BureauGiven the surging business opportunities in the air travel segment, Thomas Cook India is focussing on opening forex counters at airports in from Business Line - Money & Banking https://ift.tt/2rIXy...

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Allahabad Bank board divests CEO of all powers

With the exit of Usha Ananthasubramanian, board urges govt to make arrangements for the smooth functioning of the bank from Business Line - Money & Banking https://ift.tt/2GiS6...

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Bankers seek clarification on RBI’s norms for debt reclassification

SurabhiBankers are hoping the Reserve Bank of India will provide some procedural clarity on its recent guidelines for early recognition of stressed a from Business Line - Money & Banking https://ift.tt/2L4LK...

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NPCI plans to launch UPI 2.0 for added user convenience, security

Aims to build trust between the payer and the payee from Business Line - Money & Banking https://ift.tt/2GjOF...

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RBI diktat on stressed assets weighs on scam-hit PNB’s performance

Central bank’s dispensation on MTM losses, provisioning for IBC cases offer little respite from Business Line - Money & Banking https://ift.tt/2KmeX...

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Now, Allahabad Bank divests its CEO Usha Ananthasubramanian of all powers

The Board of state-owned Allahabad Bank today divested its MD and CEO Usha Ananthasubramanian of all powers with immediate effect. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ih8a...

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Atal Pension Yojana crosses 1 crore subscribers in 3 years

Atal Pension Yojana has added over 1 crore subscribers since its launch in May 2015, the Pension Fund Regulatory and Development Authority (PFRDA) sa from Business Line - Money & Banking https://ift.tt/2KqF6...

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Allahabad Bank divests its CEO Usha Ananthasubramanian of all powers

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2rHXv...

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Deutsche Bank hopes to leapfrog competition with first India acquisition

This acquisition will give Deutsche access to a unique application programming interface (API) which allows seamless connectivity of clients to the bank. from Banking/Finance-Industry-The Economic Times https://ift.tt/2jY6v...

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Allahabad Bank CEO Usha Ananthasubramanian loses her executive powers

On Monday, the Central Bureau of Investigation named the bank's CEO Usha Ananthasubramanian in the Rs 13,700-crore Punjab National Bank -Nirav Modi fraud. from Banking/Finance-Industry-The Economic Times https://ift.tt/2wEDT...

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Free banking services out of GST net: FinMin official

Free banking services like cheque book issuance and ATM withdrawals is likely to remain out of the ambit of the GST, a senior finance ministry offic from Business Line - Money & Banking https://ift.tt/2In7Z...

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Cheque book issuance, ATM withdrawals likely to remain out of GST ambit

Free banking services like cheque book issuance and ATM withdrawals is likely to remain out of the ambit of the GST, a senior finance ministry official said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2rHoA...

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PNB posts largest-ever quarterly loss of Rs 13,417 cr

Scam-hit Punjab National Bank (PNB) today posted largest-ever quarterly loss of Rs 13,416.91 crore for January-March period, mainly on account of hi from Business Line - Money & Banking https://ift.tt/2rJhd...

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Punjab National Bank reports Rs 13,417 crore loss in Q4

The loss for the three months to March 31 came in at Rs 13,417 crore compared with a net profit of Rs 262 crore a year ago, the company said in a statement. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2IliD...

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Essel Group Company to acquire controlling stake in LKP Finance

Dakshin Mercantile Pvt Ltd, an Essel Group company, has entered into a definitive agreement to acquire up to 62 per cent equity stake in LKP Finance from Business Line - Money & Banking https://ift.tt/2GiX6...

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J&K Bank reduces loan rates for women borrowers

Jammu and Kashmir Bank has announced a reduction in interest rates on loans for women borrowers following the state government’s decision to abolish from Business Line - Money & Banking https://ift.tt/2IjET...

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Action against top bankers right, but PNB MD Sunil Mehta should keep away, says top leader of AIBEA

The CBI has chargesheeted Ananthasubramanian and 21 others, including 11 bank officials in connection with the fraud in PNB allegedly masterminded by diamantire Nirav Modi and his uncle Mehul Choksi. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2rP7x...

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Two independent directors of IDBI Bank quit

Two independent directors Ninad Karpe and S Ravi have resigned from the board of state-owned IDBI Bank days after the CBI filed an FIR in connection from Business Line - Money & Banking https://ift.tt/2jVUD...

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Action against top bankers right, PNB MD should also keep away: AIBEA

He also said the Reserve Bank of India (RBI), its nominees on the board of Punjab National Bank (PNB) cannot escape responsibility for the Letters of Understanding (LoU) scam. from Banking/Finance-Industry-The Economic Times https://ift.tt/2wFXh...

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RBI places lending, deposit curbs on Allahabad Bank

Our Bureaus The Reserve Bank of India has imposed restrictions on Kolkata-headquartered Allahabad Bank, including on expansion of risky assets, creati from Business Line - Money & Banking https://ift.tt/2Kp7M...

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2 PNB EDs, Usha Ananthasubramanian face the axe

Finance Ministry directs banks to sack tainted officials as CBI files chargesheet in Nirav Modi scam from Business Line - Money & Banking https://ift.tt/2IB9B...

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IDBI unions to go on four-day dharna from tomorrow

Vinson Kurian Officers and employees of IDBI Bank will revive an agitation programme under the banner of United Forum of IDBI Officers and Employees from Business Line - Money & Banking https://ift.tt/2Gfxl...

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RBI puts deposit, lending restrictions on Allahabad Bank

State-run Allahabad Bank today said the Reserve Bank has imposed restrictions on its lending to risky assets and raising high-cost deposits in view of deteriorating financial health. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ifb4...

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Clean-up measures lead to a rise in bad loans

NS VageeshThe bad news from the banking world is beginning to trickle in as they announce their financial numbers for the last fiscal. Huge losses ha from Business Line - Money & Banking https://ift.tt/2KkZk...

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‘RBI alone cannot take decision on virtual currencies’

Priyanka PaniThe Reserve Bank of India has told the Supreme Court that it should not hear public interest litigation on the issue of legality of bitc from Business Line - Money & Banking https://ift.tt/2IEJk...

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To speed up insolvency proceedings, lenders to approach IBBI for relief

Borrowers misusing IBC provisions to prolong cases against them from Business Line - Money & Banking https://ift.tt/2wFh3...

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Dena Bank uses 70% of capital infused for NPA provisioning

Centre’s incremental holding in the bank after infusion has nearly halved in value from Business Line - Money & Banking https://ift.tt/2IEJj...

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PNB misrepresented factual position on credit guarantees to RBI: CBI chargesheet

Diamond merchants Nirav Modi and his uncle Mehul Choksi allegedly cheated PNB by availing credits worth over $2 billion from overseas banks, on the basis of fraudulent LoUs issued by PNB staff, which were siphoned off by them. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2rEs9...

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Allahabad Bank board to meet Tuesday to take action on CEO

The PNB board has Monday divested its two executive directors, KV Brahmaji Rao and Sanjiv Sharan, of all financial and executive powers. from Banking/Finance-Industry-The Economic Times https://ift.tt/2Gdlx...

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RBI puts deposit, lending restrictions on Allahabad Bank

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2KoAl...

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RBI puts deposit, lending restrictions on Allahabad Bank

The RBI having regard to the bank's CRAR and leverage ratio position has advised certain additional actions, Allahabad Bank said in a filing on stock exchanges. from Banking/Finance-Industry-The Economic Times https://ift.tt/2Gfb3...

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Government cracks whip, asks Allahabad Bank board to divest CEO Usha Ananthasubramanian of all powers

Cracking the whip, the government today asked the board of Allahabad Bank to take away all the powers of its CEO and MD Usha Ananthasubramanian, former chief of Punjab National Bank, in connection with the USD 2 billion fraud in PNB. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2L2BF...

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Nirav Modi fraud: PNB removes two EDs

Punjab National Bank (PNB) on Monday divested responsibilities of two of its current Executive Directors—Brahmaji Rao and Sanjiv Sharan—named in the C from Business Line - Money & Banking https://ift.tt/2rGMt...

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Budget wisely to save

Everyone can make money employing their skills. However, saving money is a different cup of tea altogether. It is easier said than done. It calls for from Business Line - Money & Banking https://ift.tt/2rFZd...

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Finance ministry asks Allahabad Bank board to divest CEO of all powers in PNB scam case

The board of Punjab National Bank (PNB) too has been asked to divest two executive directors of all powers, said Financial Services Secretary Rajiv Kumar. from Banking/Finance-Industry-The Economic Times https://ift.tt/2wNST...

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PNB scam: Allahabad Bank ordered to take away powers from CEO and MD

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2KhxC...

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Finance Ministry asks Allahabad Bank board to divest CEO of all powers in PNB scam case

Cracking the whip, the government today asked the board of Allahabad Bank to take away all the powers of its CEO and MD Usha Ananthasubramanian, for from Business Line - Money & Banking https://ift.tt/2rGS6...

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Soiled Rs 200, Rs 2000 notes stuck in exchange counter

There are about Rs 6.70 lakh crore of Rs 2,000 notes in circulation and the Reserve Bank of India has stopped fresh printing of them from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2wGEI...

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Delayed payments under MNREGA decline to six-year low: SBI report

Delayed payments under the guaranteed rural employment programme MNREGA fell to a six-year low of Rs 67,956 crore in the last fiscal ended March 31, from Business Line - Money & Banking https://ift.tt/2ImkF...

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RBI may go for three rate hikes from Dec quarter

“We maintain our expectation for a recovery in real GDP growth to 7.5% in 2018 and further to 7.7% in 2019,” says Morgan Stanley from Business Line - Money & Banking https://ift.tt/2Ik2b...

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CBI files chargesheet in $2-billion Nirav Modi scam

The CBI today filed its first chargesheet in the country’s largest financial scam worth over $2 billion in Punjab National Bank by billionaire jewelle from Business Line - Money & Banking https://ift.tt/2KkKJ...

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Big development in Nirav Modi case: CBI to file charge sheet against top bank officials in $2 bn PNB fraud

The investigators will bring charges against senior bank officials on Monday following an investigation into the $2 billion fraud at state-run Punjab National Bank (PNB) in which jewellers Nirav Modi and his uncle Mehul Choksi are prime accused. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2GcmB...

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Bitter court wars bog down Arcelor, Tata as India law tested

The National Company Law Tribunal or NCLT, in charge of the process, has extended a 270-day deadline enshrined in the law for Bhushan Power & Steel Ltd. from Banking/Finance-Industry-The Economic Times https://ift.tt/2jT37...

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House panel to examine ‘bail in’ clause of FRDI Bill, to meet today

The FRDI Bill proposes to establish a resolution corporation and a comprehensive resolution regime to enable timely and orderly resolution of a failing financial firm. from Banking/Finance-Industry-The Economic Times https://ift.tt/2KYJV...

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Bank loans to jewellers grow surprisingly after PNB-Nirav Modi scam

The flow of bank loans to the gems and jewellery sector saw a surprising 5.7% rise between mid-January and March. from Banking/Finance-Industry-The Economic Times https://ift.tt/2GcXT...

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Put your money in National Pension Scheme and beat the market

Equity or debt and across time-frames, Tier-I NPS funds have posted robust returns from Business Line - Money & Banking https://ift.tt/2KSYA...

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Public sector banks may seek early recapitalisation on new NPA rule

Stringent RBI norm, requiring stiff provisioning, may push banks to the edge on core capital from Business Line - Money & Banking https://ift.tt/2rFjl...

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After Dena Bank, RBI may put restrictions on 2 more lenders under PCA

In view of mounting non-performing assets (NPAs), the RBI yesterday directed Dena Bank not to issue any fresh loans and hire new personnel. from Banking/Finance-Industry-The Economic Times https://ift.tt/2Ic5T...

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Dealing with Bank NPA: Finance ministry mulls innovative ways

The finance ministry is examining a proposal to find innovative ways for dealing with burden of NPA provisions by issuing provision shore-up certificates (PSC) to banks. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KYFM...

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Oriental Bank of Commerce net loss widens in Q4

Oriental Bank of Commerce (OBC), a public sector lender, has reported a net loss of Rs 1,650 crore for the quarter ended March 2018. The bank had rec from Business Line - Money & Banking https://ift.tt/2wClQ...

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Finance Ministry mulling innovative ways to deal with banks' NPA provision

With the help of this instrument, the operating profit of bank is saved from erosion and the lender would be able to focus on lending activities as being in financially good shape. from Banking/Finance-Industry-The Economic Times https://ift.tt/2Gcg4...

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PNB scam: RBI declines to share copies of inspection reports

The scam, considered to be the biggest ever fraud in India's history, came to light earlier this year. PNB was allegedly defrauded by diamantaire Nirav Modi and his uncle Mehul Choksi, the promoter of Gitanjali Gems. from Banking/Finance-Industry-The Economic Times https://ift.tt/2KVTV...

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