South Indian Bank net profit nosedives in Q1

Kerala-based South Indian Bank has declared a net profit of Rs 23.04 crores for the first quarter of the financial year 2018-19 as against Rs 101.47 crores during the corresponding period last year.

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Healthy traction in loans, but growth in core income slows

The net interest income has grown by 15.4 per cent YoY in the June quarter, despite 22 per cent growth in loans

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HDFC Bank Q1 net profit up 18% to Rs 4,601 crore

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HDFC Bank Q1 net up 18% at Rs 4,601 cr

HDFC Bank has reported an 18.2 per cent increase in its net profit at Rs 4,601.44 crore for the quarter ended June, 2018. The private sector lender

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Bank of Baroda signs MoU with ten companies to loan Rs 500 cr

The bank will finance Oyo’s hotel-partners, motorcycles for delivery boys at food-delivery company Swiggy and e-commerce logistics companies, and car drivers at cab aggregators such as Ola and Uber.

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25% ATMs of public sector banks may be vulnerable to fraud

The statement on state-run banks came in response to a question in Parliament on ATMs running on software that was outdated or “unsupported”.

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25% ATMs of public sector banks may be vulnerable to fraud

The government on Friday indicated that nearly a quarter of the automated teller machines (ATMs) run by public sector banks may be vulnerable to frauds as 74% of the cash dispensers are running on outdated software.

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IDBI Bank Deal: LIC may have to reduce stake in other lenders

RBI may ask insurer to show deal won’t pose conflict of interest with its holdings in other banks.

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‘Buy’ on Bandhan Bank with target price of Rs 760

The Bandhan Bank has successfully transitioned itself from largest micro finance lender to universal banking franchise. It is one of the most profitable universal bank currently —ROE & ROA of the bank is at 19.5% and 3.6%, respectevely (FY18).

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Allahabad Bank plans to close Hong Kong branch

State-run Allahabad Bank is planning to close its Hong Kong branch for rationalisation of its overseas operations and as a part of its steps initiated under the government's reform agenda for the public sector banks.

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Regulate cryptocurrency to curb illegal transaction: RBI to Supreme Court

The Reserve Bank of India (RBI) on Friday told the Supreme Court that it is necessary to regulate the Bitcoin and other cryptocurrencies to check illegal transactions which will impact the international flow of funds.

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Allahabad Bank to close its foreign branch in Hong Kong

In compliance with the government's directives under PSBs' reform agenda, the bank has initiated various steps, Allahabad Bank said in a filing to stock exchanges.

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Allahabad Bank to close lone foreign branch in Hong Kong

In compliance with the government's directives under PSBs' reform agenda, the bank has initiated various steps, Allahabad Bank said in a filing to stock exchanges.

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Union Bank of India, A.TReDS tie-up

Our Bureau Union Bank of India has entered into a tie-up with A.TReDS for discounting invoices of MSMEs on the latter’s ‘TReDS’ digital platform, ‘in

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DigiLocker launched by Karnataka Bank

Our Bureau Karnataka Bank has launched the DigiLocker facility by integrating it with the bank’s MoneyClick Internet Banking channel. Quoting Mahabal

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L&T Finance Q1 profit rises to ₹538 crore

Our BureauL&T Finance Holdings (LTFH) has reported a profit of ₹538 crore in the first quarter of fiscal 2018-19 from the ₹314 crore recorded i

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Dropping the FRDI Bill – a belated but wise move

NS VageeshThe move to drop the Financial Resolution and Deposit Insurance (FRDI) Bill by the Union Cabinet is a wise one. If the Bill had indeed gone

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HDFC Standard Life net rises 19% at ₹380 crore

New business premium sees robust growth

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To dispense new ₹100 note via ATMs, banks may have to shell out ₹100 cr

Cash logistics firms say recalibration is a time-consuming and laborious process

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Rs 100 crore needed to recalibrate ATMs for new Rs 100 notes: Catmi

ATMs will need to be calibrated, which is time consuming and a big cost on an already struggling industry.

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Crypto currencies would encourage illegal transactions: RBI to SC

The Reserve Bank of India (RBI) today told the Supreme Court that allowing dealings in crypto currencies like Bitcoins would encourage illegal trans

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Facebook faces delay to WhatsApp Payments in India

The delay comes just as WhatsApp has been embroiled in a controversy over lynchings in the country.

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Forex reserves down by $734.5 mn

The country’s foreign exchange reserves declined $734.5 million to $405.075 billion for the week ended July 13, Reserve Bank data showed today.The fo

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Non-life insurance companies post 13% rise in premium collection at Rs 12,948 crore in June

These insurance firms had collected premium of Rs 11,495.83 crore in June 2017.

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Corporation Bank bags awards

Corporation Bank has bagged three awards instituted by the Chamber of Indian Micro Small and Medium Enterprises (CIMSME).A press release by the bank

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HDFC Life Q1 profit jumps 20% to Rs 380 cr

HDFC Life today reported a 20.2 per cent rise in net profit to Rs 380.18 crore for the first quarter of the current fiscal. The company had reported

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Why it pays to not perform in government banks

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India to grow at 7.3% in 2018, 7.6% in 2019: ADB

India is projected to grow at 7.3% in 2018 and may further accelerate to 7.6% in 2019 as measures taken to strengthen the banking system and tax reform boost investment, making it the fastest growing major economy in the world, according to the Asian Development Bank (ADB) outlook report.

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Allahabad Bank gets Rs 1,790cr as equity capital from government

Public sector Allahabad Bank today said the government has approved capital infusion of Rs 1,790 crore through preferential allotment of equity shar

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Finally, country gets first made-in-India note

The Reserve Bank of India has released a new Rs 100 denomination banknote in the Mahatma Gandhi series with a Swachh Bharat logo in lavender colour. This is the first note made of entirely domestic materials.

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We got carried away by problems from large and mid-range corporates, says joint MD of Kotak Mahindra Bank

Kotak Mahindra Bank on Thursday reported a net profit of Rs 1,025 crore for Q1FY19, a 12% increase year-on-year.

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Kotak Mahindra Bank Q1 standalone net rises 12% on NII, improved asset quality

Kotak Mahindra Bank on Thursday reported a 12% year-on-year (y-o-y) rise in standalone net profit for the quarter ended June at Rs 1,025 crore on the back of healthy net interest income (NII) and improved asset quality.

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Digital retail lending may hit $1 trillion in 5 years, says report

Digital retail lending in the country could reach USD 1 trillion over the next five years, with annual digital disbursements witnessing a five-fold increase, said a report.

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FinMin wants banks to start issuing near field communication-enabled credit and debit cards

The government has set an ambitious target of 30-billion digital transactions to be accomplished within 2018.

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Huge growth potential for MF industry in India: HDFC AMC

The country’s mutual fund industry has a huge growth potential as Indian households’ savings amount to ₹ 20-30 lakh crore, top official of an asset m

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To invest $10 million in ATI

Our BureauTo promote Indian exports to Africa, ECGC will be investing $10 million to pick up about 5 per cent stake in the African Trade Insurance Ag

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ECGC to halve export credit cover for banks

Profit declines to ₹74 crore in FY2018

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‘This year, we’ll execute our restructuring plan to grow’

KR SrivatsIFFCO Tokio General Insurance (ITGI), which is the fourth-largest private general insurer, sees health insurance as one of the key growth d

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Kotak Mahindra Bank m-cap drops by Rs 9,873 cr after Q1 earnings

Kotak Mahindra Bank reported a standalone net profit of Rs 1,024.94 crore for April-June, 2018-19 down from Rs 1,124.05 crore in the quarter ended March.

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Allahabad Bank gets Rs 1,790 cr as equity capital from govt

Earlier this week, the Finance Ministry had approved capital infusion into five public sector banks including Allahabad Bank.

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Digital retail lending may hit $1 trillion in 5 years: Report

Technological advancements will transform the face of front-end consumer experience, as well as enable full-scale digitization of operations.

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RBI to issue new ₹100 banknote

Our BureauThe Reserve Bank of India, on Thursday, said it will shortly issue ₹100 denomination banknotes with lavender as the base colour in the Maha

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Bajaj Finserv Q1 profit up 41%

Bajaj Finance posts 81% rise in net at ₹836 crore

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Put on hold recovery of compensation from erstwhile associate banks: SBI officers union

Shishir SinhaSBI officers’ union has come out in support of the officers of five erstwhile associate banks (e-ABs) on the issue of recovery of demone

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Kotak Mahindra Bank Q1 net up 12 per cent to Rs 1,025 crore

Kotak Mahindra Bank today reported 12.29 per cent rise in standalone net profit at Rs 1,024.94 crore for April-June, 2018-19.

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ICICI Bank’s SHG linkage prog in TN reaches out to 17 lakh women beneficiaries

ICICI Bank has crossed a milestone by supporting 17 lakh women beneficiaries in Tamil Nadu through the ‘Self-Help Group-Bank Linkage Programme’ (SBLP

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RBI to issue new Rs 100 note in lavender colour

The existing Rs 100 note will continue to be legal tender

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SIT on black money suggests Rs 1 crore cap on cash holdings

The Special Investigation Team (SIT) on black money has recommended the central government to cap the cash holding limit at Rs 1 crore instead of it

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General insurance premium collection up 12.2% to Rs 37,349 Crore in Q1

General insurance premium collections for the quarter ended June 30, grew by 12.2 per cent to Rs 37,349.40 crore against Rs 33,287.04 crore for the same quarter in FY18.

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RBI to issue new Rs 100 notes shortly: All you need to know

The new Rs 100 notes will bear the signature of the Reserve Bank governor Urjit Patel. The RBI said that the printing and supply of Rs 100 notes for distribution to public through the banking channel will gradually increase.

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Karnataka Bank offers DigiLocker facility

Karnataka Bank Ltd has launched DigiLocker facility by integrating it with 'MoneyClick Internet Banking’ channel of the bank.Quoting Mahabaleshwara MS

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Kotak Bank net profit up 12% at Rs 1,025 cr

Provisions and other contingencies shot up to Rs 469.63 crore

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RBL Bank net profit jumps 35% to Rs 190 crore

Gross NPAs ease to 1.4% and net NPAs to 0.75%

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Insolvency regulator knocks on IRDAI’s doors, seeks insurance cover for IPs

Insolvency regulator IBBI has reached out to insurance regulator IRDAI for the design of specialised insurance products for insolvency professionals

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WGC sets stage for wealth management foray

WGC Wealth has hired senior executives from Julius Baer, IDFC Bank and Kotak Mahindra Bank as it builds a brand new team for a business that is drawing highest valuation.

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India fastest growing economy in Asia; on track to meet FY18 target: ADB

Led by India, South Asia will continue to be the fastest growing economic area despite new trade tensions in Asia and Pacific region, Asian Developm

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Govt introduces legislation to tackle ponzi, unregulated deposit schemes

Law proposes 10-year jail term, fine of up to ₹50 crore for duping depositors

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May get Rs 20,000 crore from asset sale, IBC cases: PNB MD

Punjab National Bank managing director and CEO Sunil Mehta believes the worst is over and the bank will be able to raise enough funds on its own to meet the capital requirement.

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After public outcry, Govt drops FRDI Bill

Controversial ‘bail-in’ clause had unnerved bank depositors

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Bandhan Bank Q1 profit rises 47.5% on total income boost

Private sector lender Bandhan Bank on Wednesday reported a net profit of Rs 482 crore in the first quarter ending June, registering a jump of 47.5% on the back of higher total income.

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Two-three more PSBs may get capital infusion in a month

The government has already decided to provide Rs 2,816 crore to Punjab National Bank. Corporation Bank will be provided Rs 2,555 crore, Indian Overseas Bank Rs 2,157 crore, Andhra Bank Rs 2,019 crore and Allahabad Bank Rs 1,790 crore.

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‘Buy’ on Karnataka Bank with target price of Rs 163

Karnataka Bank’s (KBL) Q1FY19 performance was mixed with PAT at Rs 1.6 billion.

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Merger of associate banks with SBI to enhance profitability, says Minister

The government today said the merger of five associate banks with the SBI would help in enhancing profitability and loan giving capability of the country's largest lender.

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Parliament nod for merger of subsidiary banks with SBI

The bill will repeal the State Bank of India (Subsidiary Banks) Act, 1959

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Kalyan Jeweller’s new ad makes bank union see red

Our Bureau A new TV commercial by Kalyan Jewellers highlighting its “trustworthiness” by Bollywood’s leading superstar and his daughter has got bank

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DCB Bank aims to focus on retail, SME banking

Rise in credit demand after the introduction of GST, note ban

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Tata Capital Housing appoints Anil Kaul as Managing Director

Our Bureau Tata Capital, the financial services arm of the Tata Group, has appointed Anil Kaul as the Managing Director of Tata Capital Housing Finan

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Fincare to boost headcount in FY19

Our BureauFincare Small Finance Bank, or Fincare, which completed a year of operations as of July, 2018, is looking to more than double its employee

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Jana Small Finance Bank begins operations

Our Bureau Jana Small Finance Bank, erstwhile MFI - Janalakshmi Financial Services, officially launched its commercial banking operations on Wednesda

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‘Govt should show seriousness in the viability of PSBs’

AIBEA leader points out shortcomings of public banks

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Bandhan Bank Q1 net up 48%

Lender will focus on maintaining the quality of assets, growth

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Bankbazaar to invest ₹30 crore to scale up its international biz

Our BureauChennai-based online market place bankbazaar will invest over ₹30 crore in the current financial year to grow its international business, A

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Credit card usage vaults; banks rake in the moolah

Card-issuers witness steep rise in the number of users, value of transactions

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Advertisement featuring Bachchan, daughter raises hackles of bank union

We state it on record that it is a pure fiction and at no point we have intended to generalize the bank officers at large," Kalyan jewellers said in a letter to Datta.

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Bank credit rises by 12.78%, deposits by 8.33%

Banks’ credit grew by 12.78 per cent to Rs 86,60,069 crore in the fortnight ended July 6, according to the RBI data.In the year-ago fortnight, banks

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Parliament nod to bill for merger of subsidiary banks with SBI

The bill repeals the State Bank of India (Subsidiary Banks) Act, 1959, and State Bank of Hyderabad Act, 1956 besides amending the State Bank of India (SBI) Act, 1955.

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Allahabad HC asks Finance Ministry to submit report on RBI circular in 2 weeks

The high court had on May 31 temporarily stayed the RBI circular on companies other than willful defaulters and asked finance secretary to hold a meeting on resolutions.

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FinMin to provide capital to more banks by September

The infusion would be part of remaining Rs 65,000 crore out of Rs 2.11 lakh crore capital infusion over two financial years.

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Jana Launches Small Finance Bank operations

Having received its SFB licence in April 2017, Jana had officially launched operations on March 28 of this year.

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JM Financial posts 12.6% rise in Q1 net at ₹142.72 cr

JM Financial has posted a 12.6 per cent rise in net profit at ₹142.72 crore on a consolidated basis for the quarter ended June 30, 2018, compared wit

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Bandhan Bank Q1 net profit jumps 47% to Rs 482 crore

Bandhan Bank today reported a net profit of Rs 482 crore in the first quarter ending June 2018, registering a jump of 47.51 per cent.

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Bandhan Bank Q1 net profit jumps 47%

The Kolkata-headquartered Bandhan Bank has reported a 47.51 per cent jump in net profit at Rs 482 crore for the first quarter ended June 2018, again

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Shortage of gunmen may hold up cash movement at banks

Lenders hit by govt restriction on issuance of gun licences, RBI’s strict norms

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Banks expect more secure cash replenishment in ATMs

In its circular, the RBI had advised banks to review their existing outsourcing arrangements and bring them in line with these instructions within 90 days.

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Bad loans recovery should be on war-footing, says AIBEA

With stressed assets reaching alarming proportions, the All India Bank Employees' Association wants recovery of bad loans on a war-footing. The Asso

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Stashfin partners with DMI Finance to raise Rs 30 crore for onward lending

StashFin, a digital lending venture, started by a team of former financial services professionals, is designed to make lending easy, transparent, safe and secure for borrowers across India.

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IDBI seeks govt nod for LIC’s 51% stake buy move

The IDBI Bank board has decided to forward to the government a proposal from the Life Insurance Corporation (LIC) to pick up a 51% stake in the bank and play the role of a promoter.

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Why auditors needs to first put their house in order

If businesses and banks have to gain the trust of investors, auditors first have to put their house in order.

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FinMin okays capital infusion of over ₹11,000 cr in five PSBs

The Finance Ministry on Tuesday gave its nod for capital infusion of ₹11,336 crore in five weak public sector banks to help them tide over any situat

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Economic offenders: Centre sets up committee to prevent escape by defaulters

High-level panel to look for ways to raise a red flag at earliest before a defaulter can attempt to flee.

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ICICI Bank opposes JAL move to bail out JIL

Bank slams JAL’s proposal to deposit Rs 600 crore to meet the obligations of JIL, saying JAL and JIL should be treated as two separate legal entities.

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Govt gives Rs 11k crore to 5 PSBs, helps PNB avert bond default

The government on Tuesday approved a Rs 11,336-crore lifeline for five state-run lenders in a move that will help at least three of them meet the regulatory capital requirement, besides enabling Punjab National Bank (PNB), the biggest beneficiary, to avert a possible default in bond repayment.

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IDBI Bank seeks govt nod for 51% stake sale to LIC

LIC’s board has already approved the plan for the insurer to raise its stake in IDBI Bank to 51% from the current 7.98%.

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RBI yet to clarify role of CDR cell on debt recast

The corporate debt restructuring (CDR) cell has sent another request to the Reserve Bank of India (RBI) seeking clarity on its role following the central bank’s February 12 circular, sources told FE.

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Federal Bank Q1 net profit rises 25% to `263 crore on NII boost

Federal Bank on Tuesday reported a 25% year-on-year (y-o-y) rise in net profit for the quarter ended June to rS 263 crore on the back of a 22.3% rise in net interest income (NII).

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RBI purchases Rs 10,000-cr G-secs through OMO

The Reserve Bank of India (RBI) on Tuesday announced the purchase of government securtities (G-secs) under open market operations (OMO). The move came after the assessment of prevailing liquidity conditions, a press release by the RBI said.

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Capital infusion: five PSBs to get recap bonds worth Rs 11,336 crore

PNB will receive Rs 2,816 crore, followed by Corporation Bank (Rs 2,555 cr), Indian Overseas Bank (Rs 2,157 cr), Andhra Bank (Rs 2,019 cr) and Allahabad Bank (Rs 1,790 cr).

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HDFC Bank raises Rs 8,500 cr by issuing equity to parent HDFC

HDFC Bank today said it has raised Rs 8,500 crore by issuing over 3.9 crore shares on preferential basis to its parent HDFC Ltd.

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No more Vijay Mallya, Nirav Modi like cases? What government is doing to stop defaulters from fleeing country

In an attempt to stop defaulting promoters from fleeing the country, the government has set up a high-level committee headed by Financial Services Secretary Rajiv Kumar.

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RBI approves appointment of Girish Chandra Chaturvedi as ICICI Bank non-exec chairman

The private lender had appointed the former petroleum secretary as the company's non-executive chairman on June 29.

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LIC may make an open offer to buy IDBI Bank shares

Our Bureau IDBI Bank’s board on Tuesday considered Life Insurance Corporation of India’s offer to buy 51 per cent controlling stake in the former an

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Motilal Oswal PE to launch₹1,500-crore fourth fund

To invest in real estate ventures across metros

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ICICI Lombard posts 35% growth in Q1 net profit

Insurer’s growth above industry average, except in motor third-party, crop insurance segments

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Muthoot Capital Q1 net up 238%

Our BureauMuthoot Capital Services (MCSL) has registered a 238 per cent increase in net profit in the first quarter of FY19 at ₹20.6 crore against

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IDBI Bank seeks government nod for majority stake sale to LIC

The board of IDBI Bank today decided to seek the government's decision on LIC's proposal to acquire up to 51 per cent stake in the debt ridden bank.

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Goldman Sachs names David Solomon as CEO, putting a banker in charge

Goldman Sachs Group Inc named David Solomon as its next chief executive officer on Tuesday, ushering in a new era for the Wall Street bank as it expands into different businesses and revamps familiar ones.

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ICICI audit committee probing irregularities into 31 NPA accounts hires law firm

The independent audit committee investigating the alleged irregularities in 31 NPA accounts of ICICI Bank has hired a law firm to assist the panel, an official said today.

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Bailout for scam hit PNB: Government to infuse Rs 2000 crore to help bond payment

India is preparing to infuse about 20 billion rupees ($290 million) into Punjab National Bank by next week to help it meet dues on its perpetual bonds, people familiar with the matter said.

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Bank recap 2.0: Finance Ministry likely to infuse about Rs 10,000 crore soon in PSU banks

The finance ministry is likely to infuse about Rs 10,000 crore within a few days in some state-owned lenders including PNB, Corporation Bank and Central Bank of India, to help them meet the regulatory capital requirement, sources said.

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Finmin approves Rs 11,336 cr capital infusion in 5 PSU Banks

PNB will get the highest amount of Rs 2,816 crore out, while Allahabad Bank to get Rs 1,790 crore.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2zIvmpS

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ICICI audit committee probing irregularities into 31 NPA a/cs hires law firm

The independent audit committee investigating the alleged irregularities in 31 NPA accounts of ICICI Bank has hired a law firm to assist the panel,

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Finance Ministry likely to infuse about Rs 10,000 crore soon in PSU banks

Banks raise capital through AT1 bonds, which are perpetual in nature and therefore provide higher interest rates to investors. A high level of bad loans and widening losses have made it difficult for banks to service these bonds from their own earnings.

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Securitisation volumes up 128% in June quarter: ICRA

Securitisation volumes surged by 128 per cent year-on-year to Rs 32,300 crore during the June quarter, the highest ever recorded in the first quarte

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ICICI Lombard posts 35% increase in net profit; shares climb 5.5%

ICICI Lombard General Insurance has recorded a 35.1 per cent increase in its net profit at Rs 289 crore for the quarter ended June 30, 2018. Its net p

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Max Life to distribute Rs 1,084 crore as policyholder bonus

Max Life Insurance, a leading private life insurer, on Tuesday announced a bonus for its participating policyholders.During the period July 1, 2018 to

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Canara Bank launches RuPay credit card

Canara Bank has launched Canara RuPay Credit Card. Launching the card, Rakesh Sharma, Managing Director and Chief Executive Officer, Canara Bank, sai

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Federal Bank net profit climbs 25% to Rs 262.71 crore

Federal Bank has registered a 25 per cent increase in its net profit at Rs 262.71 crore in the first quarter of the current fiscal despite rise in b

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Demonetisation woes: State Bank of India asks former associate banks employees to return overtime payment

The State Bank of India in a latest internal circular to its zonal offices has said it is not liable to pay overtime compensation for the extra hours worked during the demonetisation days to the former employees of its associate banks.

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IDBI Bank stake sale: Here’s how LIC may raise its shareholding in debt ridden bank

LIC-IDBI Bank deal: In the meeting held on Monday, LIC board finally approved a plan to hike its shareholding in IDBI Bank to 51 percent.

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AI to play major role in BFSI sector

Prominent role in customer support and fraud detection

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Bad loan in India shocker! 5-fold surge in arrest of bank officers; a reality check

According to Finance Ministry data, there were 8,622 fraud cases in Public Sector Banks from 2014-15 to 16-17. Among them, staff were involved in 1,146 cases.

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Gets board nod! LIC to take majority stake in IDBI Bank

The Life Insurance Corporation of India (LIC) board on Monday approved a plan for the insurer to raise its stake in the IDBI Bank to 51% from the current 7.98%.

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Allahabad Bank puts two HDIL properties up for sale

State-owned lender Allahabad Bank has put up for sale two Maharashtra-based properties of Housing Development & Infrastructure (HDIL) to recover outstanding loans to the tune of Rs 175 crore.

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ICICI Bank postpones AGM by a month

ICICI Bank's shares ended at Rs 259.30 on Monday, down 3.3% from the previous day's close.

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India's banking revolution has left its villagers behind

While India gained about 25,000 bank branches and 45,000 ATMs in the four years to March 2018, growth has not kept up with a surge in new customers.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2LldbYO

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ICICI delays AGM further, will hold it on Sept 12

ICICI Bank has postponed its already delayed annual general meeting (AGM) by over a month. The move comes at a time when the private lender is embroiled in enquiries regarding its CEO’s conflict of interest and irregularities in recognition of 31 bad loan accounts.

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Wealth management is the new buzzword in financial services sector

This is making wealth management the most sought-after profession within the financial services sector where a top banker managing an active investment book in excess of Rs 4,000 crore can consistently earn a total annual compensation of Rs 3-4 crore.

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ICICI Bank AGM pushed back to September 12

Likely to ease investor concerns with probe into allegations, board-level changes

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Scam-hit PNB opens 2nd centralised loan processing centre for better monitoring

Scam-hit PNB today announced opening of second centralised loan processing centre (CLPC), in a Mumbai branch, aimed at strengthening the bank's internal systems and processes.

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IDBI Bank board may soon clear preferential share allotment to LIC

IDBI Bank will soon convene the board meeting to approve allotment of preference shares to LIC, enabling the insurance behemoth to acquire 51 per cent stake in the bank.

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Controversy-hit private lender ICICI Bank postpones AGM by over a month

Controversy-hit private lender ICICI Bank has postponed its annual general meeting (AGM) to September 12, 2018 from the earlier scheduled August 10.

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PNB, other PSBs may get Rs 8,000 crore lifeline

Bad loans and widening losses have made it difficult for banks to service bonds, raising the risk of default.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2NTUM72

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ATMs are the only all-time money for aam aadmi here

Transactions at ATMs have dropped 0.76% month-on-month since demonetisation in November 2016, and the amount of cash withdrawn has fallen 3.3% per month.

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Now, unique number to check authenticity of CA-certified documents

Move to help banks, regulators tackle forged/wrong documents

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LIC board gives nod for IDBI Bank buyout

Insurance behemoth to now approach SEBI for approval of the deal

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LIC employees’ federation may take legal recourse to nix insurer’s stake buy in IDBI Bank

Will consider filing a public interest litigation in the Supreme Court

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Rupee consolidates, but is likely to extend its fall

A decisive close below 69 will bring back pressure on the currency

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PNB opens 2nd centralised loan processing centre for better monitoring

New Delhi, July 16 () Scam-hit PNB today announced opening of second centralised loan processing centre (CLPC), in a Mumbai branch, aimed at strengthening the bank's internal systems and processes.

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Virtual currencies need 'vigilant monitoring', says financial forum

The FSB's chair, Bank of England Government Mark Carney, has said that one reason virtual currencies do not pose a threat is that the total amounts traded are small in relation to the financial system.

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ICICI Bank decides to postpone AGM by a month

The meeting has been rescheduled to September 12 as against the earlier schedule of August 10.

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SBI to hold Kisan Mela for farmers’ financial literacy: Date, offers, benefits, loans; all you need to know

Country's largest lender State Bank of India (SBI) will organise a nation-wide Kisan Mela on Wednesday as an outreach programme for farmers and to impart financial literacy.

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SBI to organise outreach programme for farmers on July 18

SBI said it expects to cover 10 lakh farmers through nearly 14,000 rural and semi-urban branches across the country in this Kisan Mela, to be held on July 18.

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SBI to offer farmers 10% hike in credit limit

State Bank of India will organise Kisan Melas at nearly 1,550 rural and semi-urban branches across Telangana and Andhra Pradesh on July 28. As part

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LIC board nod for acquisition of up to 51% stake in IDBI Bank

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LIC board approves acquisition of 51% stake in IDBI Bank

The LIC board has approved acquisition of up to 51 per cent stake in IDBI Bank: Economic Affairs Secretary S C Garg. Earlier, LIC completed the due

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For 64 years, no claimant for Rs 300 crore of Indian money in Swiss banks

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Ringside View: Inter-creditor agreement- dead on arrival?

For loans already in default when the circular was issued, the 180-day countdown begins from March 1which gives banks time till August 31 to agree on a restructuring.

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Minimum public shareholding norm: Centre may seek deadline extension from Sebi for PSBs

The finance ministry may approach markets regulator Sebi to seek relaxation on the minimum 25% public shareholding norm for some public sector banks (PSBs).

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Custodian banks want a rethink on high-risk list

British bank HSBC wants a rethink on the list of 25 ‘high-risk’ countries that was submitted to capital markets regulator SEBI by five global banks.

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ICICI Bank launches external probe into NPA ‘irregularities’

The bank has hired white-collar crime specialist law firm Panag and Babu to investigate the latest matter.

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LIC board to finalise IDBI Bank stake buy

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Suzuki to stick to N India for its second two-wheeler plant

To launch electric scooter by 2020

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Guidelines issued for faster IGST refunds

Suppliers of goods to SEZs will have to submit documents to specified officers

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LIC board to meet tomorrow to finalise IDBI Bank stake buy

The board of insurance behemoth LIC is scheduled to meet tomorrow to finalise the acquisition of 51 per cent stake in IDBI Bank

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Centre may ease MUDRA refinance norms to rope in smaller NBFCs

Surabhi The Centre may relax the eligibility criteria for non-banking finance companies (NBFCs) under the MUDRA, which could help increase the uptake

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LIC board to meet tomorrow to finalise IDBI Bank stake buy

LIC board to meet tomorrow to finalise IDBI Bank stake buy

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LIC board to meet on Monday to finalise IDBI Bank stake buy

The board of insurance behemoth LIC is scheduled to meet tomorrow to finalise the acquisition of 51 per cent stake in IDBI Bank, sources said. The d

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If reforms continue, India can grow at 8-8.5 per cent: CEA​

Richa Mishra Arvind Subramanian, Chief Economic Advisor in the Ministry of Finance, . was seen as ‘arrogant’ but ‘gutsy’ by his friendly neighbours

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No claimants for Rs 300 crore lying in India-linked dormant Swiss bank accounts

Funds parked by Indians with Swiss banks rose to about Rs 7,000 cr in 2017, revealed latest SNB data.

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PNB's NPA recovery in first quarter tops FY'18 level

During the quarter (April-June, 2018-19), two big accounts --Bhushan Steel and Electrosteel were resolved through the IBC process.

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Finance Ministry may seek extension of deadline from Sebi for PSBs on minimum public float norm

The finance ministry may approach markets regulator Sebi to seek relaxation on the minimum 25 per cent public shareholding norm for some public sector banks (PSBs).

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RBI gets global praise for communication strategy

Applauded for effectively using targeted communication strategy for reaching out to the right audience in “short and simplified” language

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Bank, insurance unions threaten strike during Parliament’s winter session

The Co-ordination Committee of Bank, Insurance and Finance Sector Unions (CCBIFU) on Saturday said a would be called during the winter session of the Parliament if the government does not revise its policies on banking and insurance sectors.

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