Indusland bank appoints Akila Krishnakumar, Anil Tiwari as non-executive independent directors

The board of IndusInd Bank has approved the appointment of Akila Krishnakumar and Anil Tiwari as non-executive independent directors.

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Indusland bank appoints Akila Krishnakumar, Anil Tiwari as non-executive independent directors

The board of IndusInd Bank has approved the appointment of Akila Krishnakumar and Anil Tiwari as non-executive independent directors.

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Andhra Bank posts Rs 540 cr loss in Q1

Andhra Bank has posted net loss of Rs 540 crore in the first quarter ended June 30, 2018 on higher provisions and contingencies.It had earned Rs 40 c

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Indusland bank appoints Akila Krishnakumar, Anil Tiwari as non-executive independent directors

The board of IndusInd Bank has approved the appointment of Akila Krishnakumar and Anil Tiwari as non-executive independent directors.

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Suprise move! HDFC bank deputy MD Paresh Sukthankar resigns

Paresh Sukthankar on Friday stepped down as deputy managing director of HDFC Bank, the country’s largest private sector bank by assets.

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S Gurumurthy plans to keep a keen watch from the RBI Board, but will his ideas find favour?

Gurumurthy, is a swadeshi, who has championed a different sort of self-contained economics through his Swadeshi Jagran Manch.

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No retrenchment after merger of associate banks with SBI, says government

Finance Minister Piyush Goyal today said there was no retrenchment of employees after the merger of five associate banks and the Bhartiya Mahila Bank with the State Bank of India.

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Paresh Sukthankar, HDFC Bank Deputy MD, resigns; to replace Axis Bank CEO Shikha Sharma? Street speculates

HDFC Bank's Deputy Managing Director Paresh Sukthankar has resigned after having worked with the bank for 24 years since its inception in 1994.

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No retrenchment after merger of associate banks with SBI, says government

Finance Minister Piyush Goyal today said there was no retrenchment of employees after the merger of five associate banks and the Bhartiya Mahila Bank with the State Bank of India.

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Paresh Sukthankar, HDFC Bank Deputy MD, resigns; to replace Axis Bank CEO Shikha Sharma? Street speculates

HDFC Bank's Deputy Managing Director Paresh Sukthankar has resigned after having worked with the bank for 24 years since its inception in 1994.

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No retrenchment after merger of associate banks with SBI, says government

Finance Minister Piyush Goyal today said there was no retrenchment of employees after the merger of five associate banks and the Bhartiya Mahila Bank with the State Bank of India.

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Paresh Sukthankar, HDFC Bank Deputy MD, resigns; to replace Axis Bank CEO Shikha Sharma? Street speculates

HDFC Bank's Deputy Managing Director Paresh Sukthankar has resigned after having worked with the bank for 24 years since its inception in 1994.

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Microfinance industry back on growth path after demonetisation shock; working on cashless payments: MFIN head

NBFC-MFIs have been making efforts to create awareness towards digital transactions and increasing their acceptance among them.

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With ₹80,675 crore in its account, Govt plans to launch Jan Dhan 2.0

But bankers say more needs to be done to widen the scheme’s reach and impact

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No retrenchment after merger of associate banks with SBI, says government

Finance Minister Piyush Goyal today said there was no retrenchment of employees after the merger of five associate banks and the Bhartiya Mahila Bank with the State Bank of India.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vVUrsj

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Paresh Sukthankar, HDFC Bank Deputy MD, resigns; to replace Axis Bank CEO Shikha Sharma? Street speculates

HDFC Bank's Deputy Managing Director Paresh Sukthankar has resigned after having worked with the bank for 24 years since its inception in 1994.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nuUoQl

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Microfinance industry back on growth path after demonetisation shock; working on cashless payments: MFIN head

NBFC-MFIs have been making efforts to create awareness towards digital transactions and increasing their acceptance among them.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OYlUSR

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No retrenchment after merger of associate banks with SBI, says government

Finance Minister Piyush Goyal today said there was no retrenchment of employees after the merger of five associate banks and the Bhartiya Mahila Bank with the State Bank of India.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vVUrsj

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Paresh Sukthankar, HDFC Bank Deputy MD, resigns; to replace Axis Bank CEO Shikha Sharma? Street speculates

HDFC Bank's Deputy Managing Director Paresh Sukthankar has resigned after having worked with the bank for 24 years since its inception in 1994.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nuUoQl

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Microfinance industry back on growth path after demonetisation shock; working on cashless payments: MFIN head

NBFC-MFIs have been making efforts to create awareness towards digital transactions and increasing their acceptance among them.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OYlUSR

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SBI posts ₹4,876-cr net loss in June quarter

Hit by jump in provisions and staff expenses; expects turnaround from Dec quarter

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Why have banks not hiked the savings deposit rate yet?

Given the sizeable deposit base, even a 50 bps increase can shave off 15-20 bps from banks’ margins

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No retrenchment after merger of associate banks with SBI, says government

Finance Minister Piyush Goyal today said there was no retrenchment of employees after the merger of five associate banks and the Bhartiya Mahila Bank with the State Bank of India.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vVUrsj

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Paresh Sukthankar, HDFC Bank Deputy MD, resigns; to replace Axis Bank CEO Shikha Sharma? Street speculates

HDFC Bank's Deputy Managing Director Paresh Sukthankar has resigned after having worked with the bank for 24 years since its inception in 1994.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nuUoQl

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Microfinance industry back on growth path after demonetisation shock; working on cashless payments: MFIN head

NBFC-MFIs have been making efforts to create awareness towards digital transactions and increasing their acceptance among them.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OYlUSR

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Union Bank back in the black with Q1 net of ₹130 cr

Our BureauUnion Bank of India reported a turnaround performance, recording a net profit of ₹130 crore in the first quarter ended June 30, 2018, again

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United Bank net loss widens to ₹389 cr in Q1

Our BureauHigher provisioning has dragged down the profitability of United Bank of India. The Kolkata-based bank saw its net loss widening to ₹389 cr

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Net profit of NGNF companies fall in FY18 as input costs rise

Our BureauNet profit of listed non-government, non-financial (NGNF) companies declined 0.3 per cent year-on-year (y-o-y) on input cost pressures in t

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HDFC Bank Dy MD Paresh Sukthankar resigns

Our BureauPrivate sector HDFC Bank’s second-in-command and long-standing lieutenant Deputy Managing Director Paresh Sukthankar has put in his papers

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BLS acquiresSBI business correspondent Starfin India

Our BureauBLS E-Services, a wholly-owned subsidiary of BLS International Services, has acquired Delhi-based banking business correspondent Starfin In

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Elevated additions to bad loans andlarge watch-list spell trouble for SBI

Gross addition of ₹14,300 cr to its outstanding bad loan book of over ₹2-lakh cr is worrisome

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No retrenchment after merger of associate banks with SBI: Government

Finance minister Piyush Goyal told the Lok Sabha that there was no retrenchment after the merger of the associate banks and the Bharatiya Mahila Bank with the SBI.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2vBp0nM

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HDFC Bank deputy MD Paresh Sukthankar resigns

Paresh Sukthankar has resigned as Deputy Managing Director of HDFC Bank today, the bank said without citing any reasons.“We hereby inform you that P

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Aditya Birla Capital net up 31%

Aditya Birla Capital today reported a 31 per cent rise in net profit for the three months ended June 30 this year at ₹ 227 crore on an income growth

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HDFC Bank Deputy MD Paresh Sukthankar resigns

Paresh Sukthankar has resigned as Deputy Managing Director of HDFC Bank on Friday, the bank said without citing any reasons. The bank said its board of directors places on record its appreciation for the contribution made by Sukthankar in his long association with the bank.

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HDFC Bank deputy MD Paresh Sukthankar resigns

Sukhtankar was being seen as taking over from Aditya Puri, who steps down in October 2020.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2MAax1Z

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DHFL Pramerica Life enters into pact with SVC Co-operative Bank

To offer customised products, solutions to the bank’s customers

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Blockchain: Exim Bank signs MoU with BRICS development banks

To undertake ‘collaborative research’ in distributed ledger/blockchain technology

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SBI posts Rs 4,876 cr net loss on higher provisions for Treasury losses

State Bank of India has incurred a net loss of Rs. 4,876 crorer in the first quarter of this fiscal against a net profit of Rs 2,006 crore in the year

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SBI reports Rs 4,875 crore loss in Q1

This the third successive quarter wherein the bank has reported loss, having declared a Rs 7,718.17 crore loss in the fourth quarter and that of Rs 2,416 crore in the third quarter of the last fiscal year.

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Manappuram Finance Q1 net profit rises 19% to ₹198.77 crore

Manappuram Finance Ltd has posted a 19 per cent increase in Q1 net profit of FY19 at ₹198.77 crore over ₹167.43 crore recorded in the previous fisca

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PayPal enters into pact with HDFC Bank

To offer more convenient payment experience for cardholders and help drive digital spend

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SFIO’s first-ever arrest: Bhushan Steel ex-MD

The Serious Fraud Investigation Office (SFIO) on Thursday arrested Neeraj Singhal, the erstwhile promoter and managing director of Bhushan Steel, for allegedly diverting loans accessed from banks .Singhal was remanded in judicial custody till August 14 after being produced in court,

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ICICI bank to disburse Rs 10,000 crore retail loan in Punjab, Haryana

The country's largest private sector lender ICICI Bank today said it is aiming to disburse retail loan to the tune of Rs 10,000 crore in Punjab and Haryana by the end of the current financial year.

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BLS E-Services acquires Starfin India for an undisclosed amount

Starfin has a network of Customer Service Centres (CSCs) across 11 states through which it caters to banking services to millions of customers.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2nqsKE4

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Insurers in wait-and-watch mode before signing up for Ayushman Bharat scheme

Many general insurance firms seek full scheme details before participating

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At 19%, Kerala tops in remittances

Our BureauKerala, Maharashtra, Karnataka and Tamil Nadu together received 58.7 per cent of the total inward remittances, according to the Reserve Ban

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ICICI Bank issues over one million FASTags

Plans to tie up with e-commerce portals to increase their availability

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For pvt banks eyeing promoter stake-shedding, analysts see a way out in Kotak’s PNCPS route

Surabhi / K Ram KumarPromoters of private sector banks such as Bandhan Bank may take a leaf out of Kotak Mahindra Bank’s novel way of paring promoter

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City Union Bank posts 15% rise in Q1 net profit

Our Bureau Private sector lender City Union Bank (CUB) has reported a 15 per cent increase in net profit at ₹162 crore for the quarter ended June 30,

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Privatisation of PSBs to take careof governance issues: IMF report

Our BureauMore aggressive disinvestment and privatisation of public sector banks (PSBs) would address some of the structural issues in governance, su

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ICICI bank to disburse Rs 10,000 crore retail loan in Punjab, Haryana

The country's largest private sector lender ICICI Bank today said it is aiming to disburse retail loan to the tune of Rs 10,000 crore in Punjab and Haryana by the end of the current financial year.

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Big boost to Modi’s ‘Digital India’; e-payments surge over 8-fold in 5 years to 2,070 crore

A target of 3,013 crore digital payments transactions has been set by the Ministry of Electronics and Information Technology in 2018-19.

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Retail loan is not a nirvana, former RBI deputy governor SS Mundra warns bankers

Banks have seen a good portion of their corporate loan books turning dud in the recent years, taking the overall bad loans close to 12 per cent of the system.

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ICICI Bank shares soar nearly 9% intra-day

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PNB Housing Q1 net jumps 50% to ₹ 256 cr

PNB Housing Finance today reported a jump of 50 per cent in its net profit at ₹ 255.80 crore in first quarter of the current fiscal on healthy loan d

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Kotak Mahindra Bank plans to tie up with educational institutions

In a bid to expand its retail presence, Kotak Mahindra Bank plans to tie up with educational institutions, including colleges, for Kotak cards, incl

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HSBC launches online platform to raise funds via capital markets

MyDeal contains all the information relating to a client’s capital markets transaction

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Cleaning up: PSB write-offs cross Rs 1 lakh crore in FY18

Up 57% from a year ago; NPAs lowered by `1.28 lakh crore versus `81,684 crore in the previous year

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Banks have first right over pledged assets, rules tribunal

The tribunal has ruled in favour of Standard Chartered Bank in a dispute involving the ED on the Winsome Diamonds & Jewellery case.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2vw9edV

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India Post Payments Bank to offer mutual funds, insurance policies, loans

India Post Payments Bank will partner with banks and other financial companies to offer loans, mutual funds and insurance policies to its customers.

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India Post Payments Bank to offer mutual funds, insurance policies, loans

India Post Payments Bank will partner with banks and other financial companies to offer loans, mutual funds and insurance policies to its customers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MwLihc

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LIC-IDBI Bank deal: Government offers nod for debt-laden public sector bank’s acquisition by insurer

IDBI Bank today said it has received approval to bring down the government stake to below 50 per cent and get acquired by insurance behemoth LIC.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OUOZyS

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Axis Bank likey to open up to 400 bank branches in FY 2018-2019

Axis Bank is likely to add between 350 to 400 branches to its network this year from the current about 3,800 branches, a top bank official said today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ATIwB2

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Swaminathan Gurumurthy says, accepted RBI directorship in public interest

The government has appointed Chartered Accountant Swaminathan Gurumurthy, who is associated with the Rashtriya Swayamsevak Sangh affiliate Swadeshi Jagran Manch, on the board of the Reserve Bank of India.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OTFvnt

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India Post Payments Bank to offer mutual funds, insurance policies, loans

India Post Payments Bank will partner with banks and other financial companies to offer loans, mutual funds and insurance policies to its customers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MwLihc

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India Post Payments Bank to offer mutual funds, insurance policies, loans

India Post Payments Bank will partner with banks and other financial companies to offer loans, mutual funds and insurance policies to its customers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MwLihc

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Digital citizen payments take off as banks lend a hand

Services will include direct benefit transfers, tax and fee collections and payments for public transport.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2OR5N9X

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India Post Payments Bank to offer mutual funds, insurance policies, loans

India Post Payments Bank will partner with banks and other financial companies to offer loans, mutual funds and insurance policies to its customers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MwLihc

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Indian Bank Q1 net down 44%

Indian Bank has reported a 44 per cent fall in net profit for the June quarter. The Chennai-based PSB managed to maintain its asset quality during the

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Why the run up in private banks may need watching

Slowing growth in core net interest income and higher provisioning have hit earnings over the past four quarters

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LIC-IDBI Bank deal: Government offers nod for debt-laden public sector bank’s acquisition by insurer

IDBI Bank today said it has received approval to bring down the government stake to below 50 per cent and get acquired by insurance behemoth LIC.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OUOZyS

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Axis Bank likey to open up to 400 bank branches in FY 2018-2019

Axis Bank is likely to add between 350 to 400 branches to its network this year from the current about 3,800 branches, a top bank official said today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ATIwB2

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Swaminathan Gurumurthy says, accepted RBI directorship in public interest

The government has appointed Chartered Accountant Swaminathan Gurumurthy, who is associated with the Rashtriya Swayamsevak Sangh affiliate Swadeshi Jagran Manch, on the board of the Reserve Bank of India.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OTFvnt

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India Post Payments Bank to offer mutual funds, insurance policies, loans

India Post Payments Bank will partner with banks and other financial companies to offer loans, mutual funds and insurance policies to its customers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MwLihc

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Axis Bank to step up focus on credit cards, digitisation

Our BureauAxis Bank will significantly focus on credit cards and digital payment methods, according to Rajiv Anand, Executive Director - Retail Banki

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ICICI Bank says it hasmade full disclosures about NPAs, provisions

Our BureauPrivate sector lender ICICI Bank, on Wednesday, said it has made full disclosures about its bad loans and non-performing assets (NPAs) in i

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LIC-IDBI Bank deal: Government offers nod for debt-laden public sector bank’s acquisition by insurer

IDBI Bank today said it has received approval to bring down the government stake to below 50 per cent and get acquired by insurance behemoth LIC.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OUOZyS

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Axis Bank likey to open up to 400 bank branches in FY 2018-2019

Axis Bank is likely to add between 350 to 400 branches to its network this year from the current about 3,800 branches, a top bank official said today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ATIwB2

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Swaminathan Gurumurthy says, accepted RBI directorship in public interest

The government has appointed Chartered Accountant Swaminathan Gurumurthy, who is associated with the Rashtriya Swayamsevak Sangh affiliate Swadeshi Jagran Manch, on the board of the Reserve Bank of India.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OTFvnt

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PSU banks’ NPA write-offs rise whopping 161% in 4 years of Modi government; check full list

India's largest lender the State Bank of India (SBI) wrote off highest NPA of Rs 39,151 crore, followed by IDBI Bank (Rs 12,515 crore) and Bank of India (Rs 8,976 crore). 

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OhZNG2

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RBI to pay Rs 50,000 cr dividend to govt for FY18

"The Central Board of Directors of the Reserve Bank of India, at its meeting held on August 8, 2018, approved the transfer of surplus amounting to Rs 500 billion for the year ended June 30, 2018 to the Government of India," the central bank said in a statement.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Mty2tC

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PSU banks’ NPA write-offs rise whopping 161% in 4 years of Modi government; check full list

India's largest lender the State Bank of India (SBI) wrote off highest NPA of Rs 39,151 crore, followed by IDBI Bank (Rs 12,515 crore) and Bank of India (Rs 8,976 crore). 

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OhZNG2

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RBI to transfer Rs 50,000 crore surplus to government

While the amount was budgeted at Rs 45,000 crore by the government, the extra Rs 5,000 crore will be a huge boost to the exchequer.

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

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PNB in talks with I-T, excise departments to sell erstwhile HQ

Its managing director and chief executive officer, Sunil Mehta, today said the bank is going for a second round of valuation of the south Delhi property due to high demand.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2OTx4se

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LIC-IDBI Bank deal: Government offers nod for debt-laden public sector bank’s acquisition by insurer

IDBI Bank today said it has received approval to bring down the government stake to below 50 per cent and get acquired by insurance behemoth LIC.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OUOZyS

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Axis Bank likey to open up to 400 bank branches in FY 2018-2019

Axis Bank is likely to add between 350 to 400 branches to its network this year from the current about 3,800 branches, a top bank official said today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ATIwB2

Read more »

Swaminathan Gurumurthy says, accepted RBI directorship in public interest

The government has appointed Chartered Accountant Swaminathan Gurumurthy, who is associated with the Rashtriya Swayamsevak Sangh affiliate Swadeshi Jagran Manch, on the board of the Reserve Bank of India.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OTFvnt

Read more »

PSU banks’ NPA write-offs rise whopping 161% in 4 years of Modi government; check full list

India's largest lender the State Bank of India (SBI) wrote off highest NPA of Rs 39,151 crore, followed by IDBI Bank (Rs 12,515 crore) and Bank of India (Rs 8,976 crore). 

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OhZNG2

Read more »

LIC-IDBI Bank deal: Government offers nod for debt-laden public sector bank’s acquisition by insurer

IDBI Bank today said it has received approval to bring down the government stake to below 50 per cent and get acquired by insurance behemoth LIC.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OUOZyS

Read more »

Axis Bank likey to open up to 400 bank branches in FY 2018-2019

Axis Bank is likely to add between 350 to 400 branches to its network this year from the current about 3,800 branches, a top bank official said today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ATIwB2

Read more »

Swaminathan Gurumurthy says, accepted RBI directorship in public interest

The government has appointed Chartered Accountant Swaminathan Gurumurthy, who is associated with the Rashtriya Swayamsevak Sangh affiliate Swadeshi Jagran Manch, on the board of the Reserve Bank of India.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OTFvnt

Read more »

PSU banks’ NPA write-offs rise whopping 161% in 4 years of Modi government; check full list

India's largest lender the State Bank of India (SBI) wrote off highest NPA of Rs 39,151 crore, followed by IDBI Bank (Rs 12,515 crore) and Bank of India (Rs 8,976 crore). 

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OhZNG2

Read more »

LIC-IDBI Bank deal: Government offers nod for debt-laden public sector bank’s acquisition by insurer

IDBI Bank today said it has received approval to bring down the government stake to below 50 per cent and get acquired by insurance behemoth LIC.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OUOZyS

Read more »

Axis Bank likey to open up to 400 bank branches in FY 2018-2019

Axis Bank is likely to add between 350 to 400 branches to its network this year from the current about 3,800 branches, a top bank official said today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ATIwB2

Read more »

Swaminathan Gurumurthy says, accepted RBI directorship in public interest

The government has appointed Chartered Accountant Swaminathan Gurumurthy, who is associated with the Rashtriya Swayamsevak Sangh affiliate Swadeshi Jagran Manch, on the board of the Reserve Bank of India.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OTFvnt

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PSU banks’ NPA write-offs rise whopping 161% in 4 years of Modi government; check full list

India's largest lender the State Bank of India (SBI) wrote off highest NPA of Rs 39,151 crore, followed by IDBI Bank (Rs 12,515 crore) and Bank of India (Rs 8,976 crore). 

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OhZNG2

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LIC-IDBI Bank deal: Government offers nod for debt-laden public sector bank’s acquisition by insurer

IDBI Bank today said it has received approval to bring down the government stake to below 50 per cent and get acquired by insurance behemoth LIC.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OUOZyS

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Axis Bank likey to open up to 400 bank branches in FY 2018-2019

Axis Bank is likely to add between 350 to 400 branches to its network this year from the current about 3,800 branches, a top bank official said today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ATIwB2

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Swaminathan Gurumurthy says, accepted RBI directorship in public interest

The government has appointed Chartered Accountant Swaminathan Gurumurthy, who is associated with the Rashtriya Swayamsevak Sangh affiliate Swadeshi Jagran Manch, on the board of the Reserve Bank of India.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OTFvnt

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PSU banks’ NPA write-offs rise whopping 161% in 4 years of Modi government; check full list

India's largest lender the State Bank of India (SBI) wrote off highest NPA of Rs 39,151 crore, followed by IDBI Bank (Rs 12,515 crore) and Bank of India (Rs 8,976 crore). 

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OhZNG2

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LIC-IDBI Bank deal: Government offers nod for debt-laden public sector bank’s acquisition by insurer

IDBI Bank today said it has received approval to bring down the government stake to below 50 per cent and get acquired by insurance behemoth LIC.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OUOZyS

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Axis Bank likey to open up to 400 bank branches in FY 2018-2019

Axis Bank is likely to add between 350 to 400 branches to its network this year from the current about 3,800 branches, a top bank official said today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ATIwB2

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Swaminathan Gurumurthy says, accepted RBI directorship in public interest

The government has appointed Chartered Accountant Swaminathan Gurumurthy, who is associated with the Rashtriya Swayamsevak Sangh affiliate Swadeshi Jagran Manch, on the board of the Reserve Bank of India.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OTFvnt

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PSU banks’ NPA write-offs rise whopping 161% in 4 years of Modi government; check full list

India's largest lender the State Bank of India (SBI) wrote off highest NPA of Rs 39,151 crore, followed by IDBI Bank (Rs 12,515 crore) and Bank of India (Rs 8,976 crore). 

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OhZNG2

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LIC-IDBI Bank deal: Government offers nod for debt-laden public sector bank’s acquisition by insurer

IDBI Bank today said it has received approval to bring down the government stake to below 50 per cent and get acquired by insurance behemoth LIC.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OUOZyS

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Axis Bank likey to open up to 400 bank branches in FY 2018-2019

Axis Bank is likely to add between 350 to 400 branches to its network this year from the current about 3,800 branches, a top bank official said today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ATIwB2

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Swaminathan Gurumurthy says, accepted RBI directorship in public interest

The government has appointed Chartered Accountant Swaminathan Gurumurthy, who is associated with the Rashtriya Swayamsevak Sangh affiliate Swadeshi Jagran Manch, on the board of the Reserve Bank of India.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OTFvnt

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PSU banks’ NPA write-offs rise whopping 161% in 4 years of Modi government; check full list

India's largest lender the State Bank of India (SBI) wrote off highest NPA of Rs 39,151 crore, followed by IDBI Bank (Rs 12,515 crore) and Bank of India (Rs 8,976 crore). 

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OhZNG2

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Axis Bank likely to add 350-400 branches in current fiscal

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ARD7KH

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Axis Bank likely to add 350-400 branches in current fiscal

Even as the bank has shown robust growth across business levers, its mobile banking segment has shown particularly impressive numbers, a release by Axis Bank said.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2M4ynXC

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IDBI Bank gets government nod for acquisition by LIC

In a stock exchange filing the state-owned bank said that the government has conveyed its "no objection" to reduction in government's shareholding to below 50 per cent, relinquishment of management control in IDBI Bank and acquisition of controlling stake in IDBI Bank by LIC as promoter.

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

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IDBI Bank gets NOC for LIC taking controlling stake

IDBI Bank on Wednesday said the Government has conveyed its no objection for reduction in its shareholding in the bank below 50 per cent, relinquish

from Business Line - Money & Banking https://ift.tt/2M0Ky7y

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Govt appoints S Gurumurthy on RBI board

'Accepted RBI directorship in public interest'

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SBI launches MOPAD, a unified payment terminal

It would help merchants eliminate the multiple choices that they keep to facilitate transactions from cards to QR code based payments.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2M547fd

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ICICI Bank issues over 1 million FASTags

Ties up with truck owners, large state transport corporations to further scale up operations

from Business Line - Money & Banking https://ift.tt/2KCj6aB

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IDBI Bank staff on 2-day nation-wide strike from Thursday

The All-India IDBI Officers Association has called for a nation-wide strike from tomorrow (Thursday) and a hunger dharna on Friday in Delhi to prote

from Business Line - Money & Banking https://ift.tt/2ARuvE0

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PSU banks’ NPAs decline by Rs 1.29 lakh cr in FY18

IDBI Bank, SBI, Corporation Bank saw a substantial reduction due to write-offs, including compromise settlement

from Business Line - Money & Banking https://ift.tt/2M21UB5

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PNB posts Rs 940-crore loss in Q1

Punjab National Bank (PNB) on Tuesday reported a net loss of Rs 940 crore in the April-June period, its second straight quarterly loss, as it struggles to rebound from a Rs 14,357-crore fraud it had announced in February, involving jewellers Nirav Modi and Mehul Choksi.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2McAkjM

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Stressed power assets: SC refuses to stay HC proceedings

The Supreme Court on Tuesday refused to stay the Allahabad High Court proceedings related to the RBI circular that mandates insolvency proceedings for a debt servicing default beyond 180 days.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Mwr2wd

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IIFL Wealth in talks to acquire Chennai based Wealth Advisors

In IIFl Wealth Managers, the parent company IIFL Holdings has a 53.64% stake, General Atlantic, 21.52%, employees 20% and foreign financial investors 5% stake.

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

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PNB posts Rs 940-crore loss in Q1

Punjab National Bank (PNB) on Tuesday reported a net loss of Rs 940 crore in the April-June period, its second straight quarterly loss, as it struggles to rebound from a Rs 14,357-crore fraud it had announced in February, involving jewellers Nirav Modi and Mehul Choksi.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2McAkjM

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Stressed power assets: SC refuses to stay HC proceedings

The Supreme Court on Tuesday refused to stay the Allahabad High Court proceedings related to the RBI circular that mandates insolvency proceedings for a debt servicing default beyond 180 days.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Mwr2wd

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Local court summons ICICI MD Chanda Kochhar after branch manager fails to turn up

A court today issued summons to ICICI  bank's Managing Director Chanda Kochhar and others in connection with case involving a joint account, after the manager of the branch concerned did not appear before it.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vJRMSB

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Flip Side: DBS Bank CEO Piyush Gupta says he is an accidental banker

I am inspired by Singapore. They got a 400 sq km rock, and with no resources, water, energy... made it a first world nation just through creativity, grit & relentless execution, said Gupta.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2M4kiJy

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High street Indian banks are riding the blockchain wave for efficiency

Blockchain is like the 'Whatsapp highway for payments,' says Navin Gupta, managing director, Southeast Asia, the Middle East & North Africa, Ripple, a global blockchain firm.

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

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Local court summons ICICI MD Chanda Kochhar after branch manager fails to turn up

A court today issued summons to ICICI  bank's Managing Director Chanda Kochhar and others in connection with case involving a joint account, after the manager of the branch concerned did not appear before it.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vJRMSB

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Local court summons ICICI MD Chanda Kochhar after branch manager fails to turn up

A court today issued summons to ICICI  bank's Managing Director Chanda Kochhar and others in connection with case involving a joint account, after the manager of the branch concerned did not appear before it.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vJRMSB

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Local court summons ICICI MD Chanda Kochhar after branch manager fails to turn up

A court today issued summons to ICICI  bank's Managing Director Chanda Kochhar and others in connection with case involving a joint account, after the manager of the branch concerned did not appear before it.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vJRMSB

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Local court summons ICICI MD Chanda Kochhar after branch manager fails to turn up

A court today issued summons to ICICI  bank's Managing Director Chanda Kochhar and others in connection with case involving a joint account, after the manager of the branch concerned did not appear before it.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vJRMSB

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Local court summons ICICI MD Chanda Kochhar after branch manager fails to turn up

A court today issued summons to ICICI  bank's Managing Director Chanda Kochhar and others in connection with case involving a joint account, after the manager of the branch concerned did not appear before it.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vJRMSB

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Local court summons ICICI MD Chanda Kochhar after branch manager fails to turn up

A court today issued summons to ICICI  bank's Managing Director Chanda Kochhar and others in connection with case involving a joint account, after the manager of the branch concerned did not appear before it.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vJRMSB

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Indian banks take a massive Rs 70,000 crore hit due to frauds in last 3 fiscals

Indian banks reported a total loss of about Rs 70,000 crore due to frauds during the last three fiscals up to March 2018, the Rajya Sabha was informed today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OdIgP2

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Government appoint S Gurumurthy, Satish Marathe as part-time directors on RBI board

In a release the government said that both appointments were approved by the appointments committee of the cabinet after a proposal from the department of financial services.

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

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Indian banks take a massive Rs 70,000 crore hit due to frauds in last 3 fiscals

Indian banks reported a total loss of about Rs 70,000 crore due to frauds during the last three fiscals up to March 2018, the Rajya Sabha was informed today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OdIgP2

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Bank frauds wash away Rs 70,000 crore from Indian banks in last 3 fiscal years, says finance ministry

Indian banks reported a total loss of about Rs 70,000 crore due to frauds during the last three fiscals up to March 2018, the Rajya Sabha was informed today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2M7pRGq

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How much money banks made via penalty for not maintaining minimum balance; check full list

Last year when India’s largest lender the State Bank of India decided to introduce back the penalty for not maintaining the minimum balance in bank accounts, it created a lot of furore.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OlpBRM

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RBI staff to go on mass casual leave on Sept 5, 6

Union demands pension updation

from Business Line - Money & Banking https://ift.tt/2KCyd42

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PNB posts ₹940-crore loss in Q1

Provisioning for bad debts weighs on bottomline

from Business Line - Money & Banking https://ift.tt/2OUoyt4

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Elevated provisioning continues to weigh on PNB’s earnings

RBI dispensation on MTM losses, higher-than-expected growth in net interest income offer little respite

from Business Line - Money & Banking https://ift.tt/2KCy6Wa

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SBI plans to shift Central Accounts Office from Kolkata to Mumbai headquarters

Our BureauState Bank of India has decided to shift its Central Accounts Office (CAO) from Kolkata to its corporate headquarters in Mumbai. The CAO ca

from Business Line - Money & Banking https://ift.tt/2AORIGT

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Payoneer offers ‘working capital’ products to Indian sellers

Global B2B fintech player keen to enable more Indian sellers go global, says COO Keren Levy

from Business Line - Money & Banking https://ift.tt/2vtt0qo

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AU Small Finance Bank net rises 24% at ₹77 cr

Our BureauJaipur-headquartered AU Small Finance Bank reported a 24 per cent increase in first quarter net profit at ₹77 crore against ₹62 crore in t

from Business Line - Money & Banking https://ift.tt/2AOREa7

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Leadership void at PSU banks with 10 banks headless by this month end

Although the Banks Board Bureau has recommended a list 14 candidates for the post of CEOs at PSU banks, the government has not yet cleared the names.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2AL1utO

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Bill that had bank customers jittery withdrawn: 10 facts

Amid rising concerns about the 'bail-in' clause and "various reasons", the government on Tuesday decided to withdraw the Bill from the lower house of Parliament.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2vLjWg9

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Banks take about Rs 70k cr hit due to frauds in last 3 fiscals

Minister of state for finance Shiv Pratap Shukla said that data of frauds is as per the year of reporting and not the year of occurrence of fraud or sanction of loan, letter of undertaking, which may might be of an earlier period.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2nkL7dU

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India expects HSBC account data from Switzerland in 10 days: Piyush Goyal

"The Supreme Court of Switzerland has ordered the Swiss government to share with us that data in about a week or ten days ...We are going to get that," Piyush Goyal said replying to a supplementary on a question on black money deposited in foreign banks.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Ojf0Xc

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Exim Bank targets USD 25 bn lines of credit in FY19: MD

He said the bank is looking to maintain its growth rate at around 10-15 per cent in the current and the following fiscal year.

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

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AU Small Finance Bank Q1 net up 24%

Jaipur-headquartered AU Small Finance Bank reported a 24 per cent increase in first quarter net profit at Rs 77 crore against Rs 62 crore in the year

from Business Line - Money & Banking https://ift.tt/2M3PKad

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Indian banks take about Rs 70,000-crore hit due to frauds in last 3 fiscal

Minister of State for Finance Shiv Pratap Shukla said the spurt was due to aggressive lending practices, wilful default, loan frauds, corruption in some cases and economic slowdown.

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

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PNB posts second straight quarterly loss at Rs 940 crore on Nirav Modi fraud-related provisions

India's Punjab National Bank reported its second consecutive quarter of loss as the country's second-biggest state-run lender set aside more funds for a massive fraud it disclosed earlier this year.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vJRATb

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How to prevent Mehul Choksi-like heavy borrowers from fleeing India: Government mulls passport rule change

After a slew of heavy borrowers including Nirav Modi and Mehul Choksi fled the country, a panel has recommended changes to the Passport Act to prevent offenders from leaving the country.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2M5PAz0

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PNB registers Rs 940 cr net loss on sharp rise in provisioning for bad loans

Total income jumps to Rs 15,072 crore; shares fall nearly 4%

from Business Line - Money & Banking https://ift.tt/2AOevCP

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PNB posts second straight quarterly loss at Rs 940 crore on Nirav Modi fraud-related provisions

India's Punjab National Bank reported its second consecutive quarter of loss as the country's second-biggest state-run lender set aside more funds for a massive fraud it disclosed earlier this year.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vJRATb

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How to prevent Mehul Choksi-like heavy borrowers from fleeing India: Government mulls passport rule change

After a slew of heavy borrowers including Nirav Modi and Mehul Choksi fled the country, a panel has recommended changes to the Passport Act to prevent offenders from leaving the country.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2M5PAz0

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The Bill that spooked bank customers across India has been withdrawn

The government tabled the FRDI Bill, 2017, in August in the Lok Sabha, which was referred to a joint parliamentary committee.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2Ofll6g

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PNB board approves capital infusion of Rs 2,816 cr by govt

Bank to seek shareholders’ approval for preferential allotment to govt on September 18

from Business Line - Money & Banking https://ift.tt/2MrZGY2

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SBI to auction Rs 2200 crore loan to Bombay Rayon, bidding on August 20

Banks have an exposure of nearly Rs 6,000 crore to the Mumbai-based company, which could be dragged to the bankruptcy court if a resolution plan is not in place before the end of August.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2vq5zOS

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Panel criticises RBI for Letters of Undertaking withdrawal

A Parliamentary panel on Monday criticised RBI for withdrawing the facility of Letters of Undertaking (LoUs), a sort bank guarantee for traders, and asked the regulator to reintroduce them at the earliest with suitable safeguards.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ngA7ht

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Banks to incur Rs 1000 crore loss as bankruptcy court orders liquidation of P&S Jewellery

Lenders rejected the offers by the bidders because they felt that close to Rs 124.5 crore could be recovered by sale of assets owned by the debtor and guarantors.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2vN8pg4

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Greater Pacific Capital achieves first close of planned $700 million fund

This is the second fund by the firm that was founded by two former Goldman Sachs executives, Ketan Patel and Joe Sealy, a decade ago. The first fund raised by them had a corpus of around $400 million.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2vq3HWm

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Why bank deposits are likely to turn profitable

There is good news for depositors. Many banks have increased returns on fixed deposits and, according to economists, rates are set to rise even further as growth in fixed deposits at 5 per cent in FY18 has been less than half the growth in loans.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Oky8V1

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How PNB is doing an image makeover

Punjab National Bank, the country’s second largest public sector lender that is emerging from the bruising of the Nirav Modi-Mehul Choksi scandal, is looking to rebrand itself as PNB, with a new logo as it seeks to position itself as a pan-India bank.

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

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Bank of Baroda to sell 4% stake in CCIL for Rs 124 cr

Bank of Baroda (BoB) has put on sale a 4% stake in Clearing Corporation of India (CCIL) in order to raise at least Rs 124 crore, according to a public notice.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nivCDi

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Bank of Baroda Rating ‘Buy’: Operational showing was very strong

Changes in functioning are reflected in numbers; core PPOP estimates up 2-4%; valuations are reasonable.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OgX7Zf

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Ban on LoUs/LCs: House panel says RBI acted in haste

A parliamentary panel has said the Reserve Bank of India (RBI)'s ban on letters of undertaking/comfort in the wake of the $2.2-billion fraud at Punjab National Bank was a “knee-jerk” reaction and suggested that such credit instruments be restored.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ngOSRn

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Bank of Baroda to sell 4% stake in CCIL for Rs 124 cr

Bank of Baroda (BoB) has put on sale a 4% stake in Clearing Corporation of India (CCIL) in order to raise at least Rs 124 crore, according to a public notice.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nivCDi

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Bank of Baroda Rating ‘Buy’: Operational showing was very strong

Changes in functioning are reflected in numbers; core PPOP estimates up 2-4%; valuations are reasonable.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OgX7Zf

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Ban on LoUs/LCs: House panel says RBI acted in haste

A parliamentary panel has said the Reserve Bank of India (RBI)'s ban on letters of undertaking/comfort in the wake of the $2.2-billion fraud at Punjab National Bank was a “knee-jerk” reaction and suggested that such credit instruments be restored.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ngOSRn

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Bank of Baroda to sell 4% stake in CCIL for Rs 124 cr

Bank of Baroda (BoB) has put on sale a 4% stake in Clearing Corporation of India (CCIL) in order to raise at least Rs 124 crore, according to a public notice.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nivCDi

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Bank of Baroda Rating ‘Buy’: Operational showing was very strong

Changes in functioning are reflected in numbers; core PPOP estimates up 2-4%; valuations are reasonable.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OgX7Zf

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Ban on LoUs/LCs: House panel says RBI acted in haste

A parliamentary panel has said the Reserve Bank of India (RBI)'s ban on letters of undertaking/comfort in the wake of the $2.2-billion fraud at Punjab National Bank was a “knee-jerk” reaction and suggested that such credit instruments be restored.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ngOSRn

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Bank of Baroda to sell 4% stake in CCIL for Rs 124 cr

Bank of Baroda (BoB) has put on sale a 4% stake in Clearing Corporation of India (CCIL) in order to raise at least Rs 124 crore, according to a public notice.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nivCDi

Read more »

Bank of Baroda Rating ‘Buy’: Operational showing was very strong

Changes in functioning are reflected in numbers; core PPOP estimates up 2-4%; valuations are reasonable.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OgX7Zf

Read more »

Ban on LoUs/LCs: House panel says RBI acted in haste

A parliamentary panel has said the Reserve Bank of India (RBI)'s ban on letters of undertaking/comfort in the wake of the $2.2-billion fraud at Punjab National Bank was a “knee-jerk” reaction and suggested that such credit instruments be restored.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ngOSRn

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Bank of Baroda to sell 4% stake in CCIL for Rs 124 cr

Bank of Baroda (BoB) has put on sale a 4% stake in Clearing Corporation of India (CCIL) in order to raise at least Rs 124 crore, according to a public notice.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nivCDi

Read more »

Bank of Baroda Rating ‘Buy’: Operational showing was very strong

Changes in functioning are reflected in numbers; core PPOP estimates up 2-4%; valuations are reasonable.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OgX7Zf

Read more »

Ban on LoUs/LCs: House panel says RBI acted in haste

A parliamentary panel has said the Reserve Bank of India (RBI)'s ban on letters of undertaking/comfort in the wake of the $2.2-billion fraud at Punjab National Bank was a “knee-jerk” reaction and suggested that such credit instruments be restored.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ngOSRn

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Convert SB a/c to ‘basic account’ to avoid maintenance charges: SBI

State Bank of India has clarified that one could convert his/her Savings Bank (SB) account to a Basic Savings Bank Deposit (BSBD) account to avoid pen

from Business Line - Money & Banking https://ift.tt/2M0TGsj

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IFC invests Rs 160 cr in Mahindra Rural Housing Finance

IFC, a member of the World Bank Group, will invest Rs 160 crore ($25 million) in Mahindra Rural Housing Finance (MRHFL), which is focused on rural ho

from Business Line - Money & Banking https://ift.tt/2MnEPFc

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With scams galore, banks set to fork out more for D&O liability insurance

Insurance firmsjack up premiums

from Business Line - Money & Banking https://ift.tt/2LZy5kL

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Shareholders await RBI decision on Kotak Mahindra Bank preferential share issue

SurabhiA few minority shareholders are understood to have raised eyebrows at the recent allotment of preferential shares by Kotak Mahindra Bank to pa

from Business Line - Money & Banking https://ift.tt/2OdevOE

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Banks lost ₹32,000 cr to frauds in FY2017-18

Reserve Bank of India data reveals three-fold rise in the last 5 years

from Business Line - Money & Banking https://ift.tt/2ngphYZ

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Strong dollar caps upside in rupee

The Indian currency continues to consolidate sideways but with a bearish bias

from Business Line - Money & Banking https://ift.tt/2OcCehN

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Ujjivan Small Finance Bank to retire Rs 2000 crore high cost debt to boost profit

The bank has about Rs 2000 crore of legacy borrowing which it acquired during its transition from microfinance firm Ujjivan Financial Services.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2LX51Kr

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Indiabulls Housing Finance hikes lending rates by up to 25 bps

Second largest pureplay mortgage lender Indiabulls Housing Finance has increased its lending rates by 20 basis points (bps) for women and 25 bps for m

from Business Line - Money & Banking https://ift.tt/2OfvQWX

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Nearby technologies to start bill payments through BBPS with Yes Bank

The PayNearby app has more than 1 lakh retail stores across India and they in turn have the potential to serve more than 2.2 crore customers.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2AKNQ9J

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HDFC Bank raises fixed deposit rates by up to 0.6%

Days after the Reserve Bank of India hiked the benchmark repo rate, HDFC Bank today increased fixed deposit rates on various maturities by up to 0.6

from Business Line - Money & Banking https://ift.tt/2vIXLXA

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HDFC Bank raises fixed deposit rates by up to 0.6%

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ONpVd2

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DHFL’s ‘Griha Utsav’ to showcase affordable housing in Bengaluru

DHFL, housing finance company, will host a property-cum-finance exhibition on August 7- 8 at Mfar Dockyard, Manayata TechPark, Bengaluru.The exhibit

from Business Line - Money & Banking https://ift.tt/2Ofa6dN

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Where's my bonus? Private bank CEOs still waiting for their payouts

The RBI was delaying the bonuses as it questioned the size of the payouts citing performance issues.

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HSBC first-half pretax profit rises 4.6%, Q2 beats estimates

Jonathan Symonds appointed as the bank's deputy chairman

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Undeclared NPAs in FY18 still at Rs 3 lakh crore

RBI norms require lenders to start NPA proceedings under the cross-default clause even if the delinquency is in respect of another loan.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2LZMTz1

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Centre's flagship crop insurance scheme sees 15% drop in coverage

Data on the crop insurance scheme, shared by the government in Parliament, showed that farmers’ enrolment declined from 57.3 million in 2016-17 to 48.8 million in 2017-18.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2AGG6FK

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Undeclared NPAs in FY18 still at Rs 3 lakh crore

There are over Rs 3 lakh crore worth of undeclared non-performing assets in the books of banks as of March 2018. These are by borrowers who have defaulted to one lender but the loans are not classified as NPAs possibly because the other banks are not aware of defaulter’s financial position.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2vG6Vo5

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LIC may have to pay premium for IDBI non-core assets

IDBI Bank has started valuing its assets before making a preferential issue of shares to LIC, which is set to acquire a majority stake in the lender.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2vE7te4

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Amazon’s move to offer UPI-based service hits data localisation hurdle

Multinationals keen on entering payments space in India are now waiting for more clarity from RBI.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2OerX4z

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Banks plan to back staff against inquiry agencies

Legal & financial support has been proposed for employees who face probe after having acted in good faith.

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

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ICICI Bank rating ‘Buy’: Results were in keeping with expectations

FY19 will be a grind over asset quality; TP revised to Rs 375; ‘Buy’ retained owing to reasonable valuations

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2M1WJ3j

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ICICI Bank rating ‘Buy’: Results were in keeping with expectations

FY19 will be a grind over asset quality; TP revised to Rs 375; ‘Buy’ retained owing to reasonable valuations

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2M1WJ3j

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Home is where the loan is

Property owners can take various loans against their assets to meet financial needs

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A super top-up plan

Bajaj Allianz’s Extra Care covers maternity and the waiting period for pre-existing diseases is just 12 months

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Satya MicroCapital raises ₹43 cr led by Gojo & Company

New Delhi-based micro-finance firm Satya MicroCapital has raised ₹43 crore in a round of funding led by Japan’s Gojo & Company, along with existin

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Manappuram Finance plans ₹1,000-cr NCD public issue

Manappuram Finance plans to tap the public markets next month with a ₹1,000 crore non-convertible debenture (NCD) issue, VP Nandakumar, Managing Direc

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PMUY, a feather in the cap for Pradhan and his team

Pressure cooker sales rise as more rural consumers get access to LPG cylinders

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Additional Solicitor General suggests FIR against Cambridge Analytica

Plans to follow prescribed procedure under the CBI Manual

from Business Line - Money & Banking https://ift.tt/2OJc9YA

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OnePlus set to move services hub to India

To shut operations in the Philippines

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NSE plans to go in for re-branding, unveil new logo

Palak ShahFor the first time in nearly two decades, the National Stock Exchange (NSE), India’s largest equity bourse, has embarked on a re-branding e

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Has cabotage relaxation made an impact?

Foreign players welcome the move, but Indian shippers say overseas lines have only moved empty containers after the restriction was lifted

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Bank credit jumps 12.44 pct, deposits up 8.15 pct: RBI

Bank credit grew by 12.44 per cent to Rs 86,13,164 crore in the fortnight to July 20, according to the RBI data. In the year-ago period, bank credit had stood at Rs 76,59,898 crore.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2niyBeZ

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Bank credit jumps 12.44 pct, deposits up 8.15 pct: RBI

Bank credit grew by 12.44 per cent to Rs 86,13,164 crore in the fortnight to July 20, according to the RBI data. In the year-ago period, bank credit had stood at Rs 76,59,898 crore.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2niyBeZ

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Bank credit jumps 12.44 pct, deposits up 8.15 pct: RBI

Bank credit grew by 12.44 per cent to Rs 86,13,164 crore in the fortnight to July 20, according to the RBI data. In the year-ago period, bank credit had stood at Rs 76,59,898 crore.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2niyBeZ

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Bank credit jumps 12.44 pct, deposits up 8.15 pct: RBI

Bank credit grew by 12.44 per cent to Rs 86,13,164 crore in the fortnight to July 20, according to the RBI data. In the year-ago period, bank credit had stood at Rs 76,59,898 crore.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2niyBeZ

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Choksi-Nirav fraud: Sebi probe moves ahead, no clean chit to anyone

The CIU received documentation of two instances in which the Sebi, in 2014 and 2017, opened investigations on a corporate entity owned by Choksi.

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

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PM Modi to launch India Post Payments Bank on August 21

With IPPB in place, people in rural area will be able to avail digital banking and financial services, including money transfer, to any bank account either with help of mobile app or by visiting a post office.

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

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Bank credit jumps 12.44 pc, deposits up 8.15 pc

Growth in advances during the reporting period was marginally lower than the increase registered in the fortnight to July 6, when loans increased by 12.78 per cent to Rs 86,60,069 crore.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2Mo5WQA

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Bank penalties cost depositors Rs 5,000 crore in 2017-18

The highest collection is by State Bank of India (SBI) which raised Rs 2,433 crore, nearly half of the total fines.

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

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