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Wednesday, August 21, 2019

IL&FS probe: ED questions former CM Manohar Joshi’s son Unmesh for 3rd day

Questioning of former Maharashtra chief minister Manohar Joshi’s son, Unmesh, is underway at the Enforcement Directorate’s office here on the third c

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Nippon Life hikes stake in Reliance Nippon AMC to 54 per cent via open offer

Buys additional 11 per cent stake for ₹1,500 cr at ₹230 a share

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SBI plans to establish nearly 10 lakh YONO Cash Points

State Bank of India, the country’s largest lender, is planning to establish nearly 10 lakh YONO Cash Points in the country over 18 months, said its

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Bank of Baroda plans to raise capital through bonds

Public sector lender Bank of Baroda on Wednesday said its capital raising committee will meet next week to consider raising of capital through issuan

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SBI plans to establish nearly 10 lakh YONO Cash Points

The bank has no plans to discontinue debit cards but increased use of the digital platform will itself reduce the requirement of the debit cards, Rajnish Kumar said.

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Bank of Baroda plans to consider bond issue

Public sector lender Bank of Baroda on Wednesday said its capital raising committee will meet next week to consider raising of capital through issuan

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Banks do not report most cybercrimes, says top cop

Banks tend to not report most cybersecurity-related incidents faced by them to law enforcement agencies, nor do they share information about breach attempts. As a result, investigators haven’t been able to fully equip themselves to handle and mitigate such cases.

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Acko partners with ZestMoney to offer credit insurance

Insurance will help cover monthly EMI payments and protect the insured from default

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Raising long-term finance to be tough for NBFCs: Bankers

Raising long-term finance will continue to be a challenge for non-banking finance companies (NBFCs), although banks are willing to adopt a collaborative approach to help revive the sector.

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Ujjivan SFB to dilute promoter stake by 10-15%

Plans combination of IPO, ESOPs and employee stock purchase scheme

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Financial institutions debit Rs 759 crore from IL&FS against NCLAT order

As per the fifth progress report to the NCLT, the company said that banks and financial institutions' actions affects its efforts to survive as a 'going concern'.

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IL&FS did not disclose NPAs for 4 years: RBI

The report is based on inspection of IL&FS and IFIN and this has been conveyed by the new board of the IL&FS to the NCLT.

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YES Bank to take a call on asset management business

YES Bank is planning to take a long hard look at its asset management business. The private sector lender forayed into this business last year.The mov

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With the insurance industry maturing over the years, focus has shifted to profitability and valuations

Thomas Abraham G Murlidhar, Managing Director, and a founding member of Kotak Mahindra Life Insurance Company, says the company has grown faster than

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IL&FS antics: Lending behemoth without 'investment policy'

In a shocking disclosure, the RBI found that the crisis-ridden IL&FS did not have a board-approved 'Investment Policy'.

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Slowdown slayer: PSBs to suggest steps to boost economy

Various sectors are facing a sales downturn. Industries such as FMCG and automobile have been hit the hardest.

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India’s deposit insurance cover remains the lowest globally

The continued weak performance of banks has brought the focus back on the appallingly low deposit insurance cover in India. The 2018 annual survey by

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RBI blasts banks on poor compliance with regulations

Reserve Bank deputy governor MK Jain on Tuesday slammed banks for poor compliance with regulations, and pointed out that high value frauds and fines

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Central Bank of India plans to raise up to Rs 3,000 crore

The lender through a exchange notice had said earlier that it recieved shareholder approval to raise up to Rs 5,000 crore through rights issue or qualified institutional placement (QIP).

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Banks’ compliance culture far from satisfactory: RBI director-general MK Jain

The two-day event concluded on Tuesday. He further added that since the global financial crisis in 2008 to 2020, penalties and fines imposed on banks for lack of compliance is well expected to cross $400 billion.

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SBI in talks with NBFCs on co-origination of loans

The central bank had released guidelines on co-origination of loans by banks and NBFCs to the priority sector last year with a view to leveraging on the reach of NBFCs to help banks meet their priority sector lending targets.

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Banks now have greater flexibility to resolve stressed assets, says RBI deputy governor NS Vishwanathan

The Basel Committee had resolved that the loss-absorbing capacity of banks should be increased and a capital conservation buffer be put in place to tide over periods of liquidity stress.

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Max Financial in talks to sell 10% stake for Rs 1,200cr

Hero Corp leads the race; Founding member Analjit Singh in talks to raise as much as Rs 1,200 cr

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Tuesday, August 20, 2019

IL&FS case: NCLAT refuses interim relief to Deloitte and BSR Associates

The National Company Law Appellate Tribunal (NCLAT) has refused to give interim relief to IL&FS auditors Deloitte and BSR Associates regarding th

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India Post Payments Bank evaluating options to convert to SFB, says CEO

Our BureauIndia Post Payments Bank is evaluating options on how to convert to a small finance bank (SFB) as it is keen to provide micro credit at the

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Compliance culture of Indian banks is ‘far from satisfactory’ : RBI Deputy Governor

Lenders should eschew tendency to treat compliance merely as a cost, says MK Jain

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Oriental Bank launches repo-linked home, auto loans

Oriental Bank of Commence (OBC) has launched a new variant of home and vehicle loan products linked to the RBI’s repo rate. The new product will direc

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Ayushman reimbursement for private hospitals short of costs incurred: FICCI/EY report

The current procedure costs prescribed by the government’s cashless health insurance scheme — Pradhan Mantri Jan Arogya Yojana (PM-JAY) or Ayushman

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SBI suggests linking bulk deposits to repo for effective transmission of interest rates

For effective transmission of the RBI’s lower policy rates, SBI on Tuesday suggested the regulator should ask banks to link incremental bulk deposit

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DBS Bank to enter India's credit card market next year

The Singapore-based lender's move highlights its efforts to tap growth outside its home market to offset weakness in the local economy.

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Home, auto loans on ‘PSB Loans in 59 Minutes’ portal soon

Public sector banks are gearing up to introduce retail products, including housing and auto loans, on ‘psbloansin59minutes’ portal with a view to ex

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DBS Bank to enter credit card market next year

Southeast Asia's biggest bank DBS Group Holdings is preparing to enter the credit card market in India in 2020, a senior company executive said on Tu

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PSU banks to introduce home, auto loans on 'PSB Loans in 59 Minutes' portal

The portal was launched by PM Modi in November 2018 with an aim to make credit access and banking for MSMEs transparent and hassle-free.

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NCLAT refuses interim relief to Deloitte, BSR Associates in IL&FS case

NCLT Mumbai will continue its scheduled hearing in the case of their alleged role in the IL&FS fraud matter.

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Banks Board Bureau invites applications for top posts of 4 big PSU banks

The headhunter last week had issued public notices inviting applications for the top posts in Punjab National Bank and Bank of India but on Monday it broaden the exercise to include Bank of Baroda and Canara Bank.

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Non-life insurers register 23 pc rise in July premium at Rs 14,378.45 cr

The 34 non-life insurance firms had collected a premium income of Rs 11,715.05 crore in the corresponding month a year ago.

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SBI announces home, auto loans at cheaper rates during festival season

State Bank of India (SBI), the country's largest lender, on Tuesday announced a number of offers including cheaper rates for home and auto loan borrowers, to cash in on festival fervour.

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Mahindra Finance inks JV deal to acquire over 58% in Sri Lanka's Ideal Finance for LKR 2 billion

With this JV, Mahindra Finance aims to replicate its business model in Sri Lanka.

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SBI’s festive offers: Should you go for the bank’s repo linked home loan?

While the transmission will happen faster, it can make EMIs more volatile and pinch you when rates increase

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State Bank of India aims to eliminate debit cards

If the country's largest lender State Bank of India (SBI) has its way, it may herald the beginning of the end of the ubiquitous debt cards from the banking system as the bank plans to promote more digital payment solutions and eliminate the plastic cards.

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Mahindra Finance to pick 58.2% in Sri Lanka's Ideal Finance

Mahindra & Mahindra Financial Services Ltd has entered into a joint venture with Sri Lanka's Ideal Finance Ltd. Mahindra Finance will invest LKR 2

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Route to $5 trillion facing headwinds: Bank CEOs

Banking executives said though there are opportunities in some segments of the economy, the aim to make India a $5-trillion economy will need a lot more effort.

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SBI announces a slew of festive offers for retail banking customers

State Bank of India (SBI) on Tuesday announced bouquet of special offerings in this festive season for retail banking customers. Customers can avail

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Credit has to expand 18-20% for India to become $5 trillion economy

As per industry leaders, achieving the government target of making India a $5-trillion dollar economy by 2024 from around $2.7 trillion at present would require annual credit growth in the range of 18-20%. This kind of growth was last seen following the stimulus in FY11 when bank credit grew 21.5%. As on August 2, the year-on-year bank credit growth was 12%.

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NBFC loan growth in negative zone

A Credit Suisse analysis says 10-11% of loans turning NPAs.

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Borrowers to gain as RBI to tell banks to link loans with repo rate

Unhappy with the pace of transmission of interest rate cuts, the Reserve Bank of India plans to direct banks to start providing loans linked to an external benchmark like the repo (rate at which the RBI lends money to banks). RBI governor Shaktikanta Das said that some banks have already announced their intent to link lending rates to an external benchmark.

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Monday, August 19, 2019

Bank fraud case: ED attaches assets worth ₹2.42 cr in AP, Telangana

Enforcement Directorate (ED) has attached assets worth ₹ 2.42 crore of Ganne Srinivasa Rao and others in a bank fraud case. The attached properties in

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Aviom India Housing Finance raises Rs 60 crore in Series B funding

New Delhi-based Aviom India Housing Finance has raised Rs 60 crore from Japan’s Gojo & Company and Capital 4 Development Asia Fund Netherlands in

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An Indian car loan player is making plans to offer loans to homebuyers

Cholamandalam is undeterred by the credit crunch that’s roiling shadow banks across the nation.

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RBI Governor’s talisman: Don’t fret over economic slowdown

The credit crisis that engulfed the non-bank finance sector after the collapse of IL&FS in August last year.

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Bank union welcomes FinMin initiative, calls for wider debate

The National Confederation of Bank Employees (NCBE) felt that there is also a need for a wider national debate on the entire banking policy involving all stakeholders

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Growth is the highest priority as of now: RBI chief

After over a dozen public sector banks, including State Bank of India (SBI), have voluntarily linked their loans and deposits pricing to the repo rate, Reserve Bank of India (RBI) governor Shaktikanta Das on Monday stressed on the need for the entire system switching to this model, saying such a move can speed up the monetary transmission process.

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NCLT approval awaited for Bandhan Bank-GRUH Finance merger

Bandhan Bank Managing Director and CEO, Chandra Shekhar Ghosh, on Monday said the lender is awaiting approval from the NCLT for its proposed merger wi

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Banks need to do more on transmitting repo rate cuts: RBI Governor

The Reserve Bank of India expects banks to move faster on transmitting repo rate cuts to lending rates by linking the latter to an external benchmark,

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Jaishankar R. Padmanabhan selected for appointment as NHB Executive Director

National Housing Bank (NHB) has selected Jaishankar R. Padmanabhan for appointment to the post of Executive Director (special grade). This appointment

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United Bank of India targets Rs 1,000 crore net profit in FY20

"I am pretty sure that the remaining quarters of this fiscal would also be profitable for us. We are looking at nearly Rs 1,000 crore profit in FY20," Pradhan said.

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PSU banks launch joint plan to boost economic growth

There are eight specific areas in which these banks are expected to focus, which include credit growth, infrastructure financing, financial inclusion, digital transactions and CSR activities, among others.

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United Bank of India targets Rs 1,000 crore net profit in FY20

"I am pretty sure that the remaining quarters of this fiscal would also be profitable for us. We are looking at nearly Rs 1,000 crore profit in FY20," Pradhan said.

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SBI Cards invites book-running lead managers, legal counsels for proposed IPO

SBI Cards and Payment Services Private Ltd has invited book-running lead managers and legal counsels for a proposed initial public offering.SBI is exp

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Credit demand subdued, need eco booster: SBI chief

State Bank of India (SBI) chairman Rajnish Kumar on Sunday said credit demand remains subdued and there is a need for stimulus in the economy. Though lack of credit demand exists in the economy, there is no supply-side constraint as public sector banks are more or less well-capitalised, he said.

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PSU banks launch joint plan to boost economic growth

There are eight specific areas in which these banks are expected to focus, which include credit growth, infrastructure financing, financial inclusion, digital transactions and CSR activities, among others.

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Sensex jumps over 200 points; Nifty nears 11,100

Domestic equity benchmark BSE sensex rose over 200 points in early trade on Monday tracking gains in index heavyweights RIL, ICICI Bank and Infosys amid positive global cues.

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‘Voluntary Aadhaar eKYC for bank accounts, mobile, MFs soon’



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Credit squeeze on smaller NBFCs seen abating

Players hopeful that several measures taken by the govt will improve liquidity further

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Public sector banks explore northeast India centric products

Barun Kumar, Deputy General Manager of Union Bank of India said, “For some constrains intervention of government and in some intervention of National bank for agriculture &rural development (NABARD) will be required.”

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State-run banks to involve branches over growth goals

The exercise was carried out over the weekend, as directed by the ministry.

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SBI offers repo-linked benefits on home loans for new customers

The bank has introduced repo-linked lending rate for home loans from July only for its new customers and expects around 12% growth in loans in FY20.

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Economic Offence Wing lens on role of IL&FS Securities in Allied Financial fraud case

EOW on Friday arrested Awanish Mishra, a director of Allied Financial.

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US healthcare BPO may be valued at $225 million: PE firms in race to acquire emids Technologies

Homegrown funds such as Everstone, ChrysCapital and global ones like KKR, Baring in talks to buy a controlling stake.

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Bank of India expects recovery of Rs 2,500 crore with resolution of 8-10 NPA cases in NCLT

Public sector Bank of India is expecting to recover around Rs 2,500 crore with the resolution of about eight to 10 big NPA cases in the National Company Law Tribunal (NCLT), a senior official said on Sunday.

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SBI expects 12-14% credit growth this fiscal, says Chairman Rajnish Kumar

Country's largest lender State Bank of India (SBI) is expecting to achieve a credit growth of 12 per cent to 14 per cent this fiscal, its Chairman Rajnish Kumar said here on Sunday.

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SBI, other PSUs complete first round of ideation exercise towards India’s $5-trillion economy target

State Bank of India and other public sector lenders on Sunday completed the first round of bottom-up ideation exercise for further streamlining the banking sector to help the nation become a USD 5-trillion economy in five years.

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Bank of India expects recovery of Rs 2,500 crore with resolution of 8-10 NPA cases in NCLT

Public sector Bank of India is expecting to recover around Rs 2,500 crore with the resolution of about eight to 10 big NPA cases in the National Company Law Tribunal (NCLT), a senior official said on Sunday.

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Bank of India expects recovery of Rs 2,500 crore with resolution of 8-10 NPA cases in NCLT

Public sector Bank of India is expecting to recover around Rs 2,500 crore with the resolution of about eight to 10 big NPA cases in the National Company Law Tribunal (NCLT), a senior official said on Sunday.

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Bank of India expects recovery of Rs 2,500 crore with resolution of 8-10 NPA cases in NCLT

Public sector Bank of India is expecting to recover around Rs 2,500 crore with the resolution of about eight to 10 big NPA cases in the National Company Law Tribunal (NCLT), a senior official said on Sunday.

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Sunday, August 18, 2019

Bank of India expects recovery of Rs 2,500 crore with resolution of 8-10 NPA cases in NCLT

Public sector Bank of India is expecting to recover around Rs 2,500 crore with the resolution of about eight to 10 big NPA cases in the National Company Law Tribunal (NCLT), a senior official said on Sunday.

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Bank of India expects recovery of Rs 2,500 crore with resolution of 8-10 NPA cases in NCLT

Public sector Bank of India is expecting to recover around Rs 2,500 crore with the resolution of about eight to 10 big NPA cases in the National Company Law Tribunal (NCLT), a senior official said on Sunday.

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SBI, Canara Bank brainstorm on performance, way ahead

The Local Head Office of State Bank of India (SBI), Kerala, and the Regional Office of Canara Bank, Convenor of the State-Level Banking Committee (SL

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Bank of India expects recovery of Rs 2,500 crore with resolution of 8-10 NPA cases in NCLT

Public sector Bank of India is expecting to recover around Rs 2,500 crore with the resolution of about eight to 10 big NPA cases in the National Company Law Tribunal (NCLT), a senior official said on Sunday.

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State Bank of India mulls repo-linked home loans for existing borrowers

The country's largest bank has introduced repo-linked lending rate for home loans from July only for new customers who are getting the direct benefit of lower policy rates.

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SBI expects to achieve credit growth of 12-14% this fiscal

The State Bank of India (SBI) is expecting to achieve a credit growth of 12 per cent to 14 per cent this fiscal, its Chairman Rajnish Kumar said here

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ReNew Power appoints D Muthukumaran as CFO

Clean energy firm ReNew Power on Sunday announced the appointment of D Muthukumaran as its new Chief Financial Officer (CFO). D Muthukumaran, who tak

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ReNew Power appoints of D Muthukumaran as CFO

Clean energy firm ReNew Power on Sunday announced the appointment of D Muthukumaran as its new Chief Financial Officer (CFO). D Muthukumaran, who tak

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Public sector banks take employees on board on road to efficiency

"The broader theme is how to motivate branch level employees to align them with national priorities and how banks can contribute to make India a $5 trillion economy," SBI chairman Rajnish Kumar said.

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PSU banks complete first round of bottom-up ideation exercise

State Bank of India and other public sector lenders on Sunday completed the first round of bottom-up ideation exercise for further streamlining the b

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Credit demand subdued, economy needs stimulus: SBI Chairman

State Bank of India (SBI) Chairman Rajnish Kumar on Sunday said credit demand remains subdued and there is a need for stimulus in the economy. Though

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Credit demand subdued, economy needs stimulus: SBI Chairman Rajnish Kumar

Kumar was in the city to attend the multi-level consultation programme with the branch managers of SBI in the region.

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Current auto slowdown will not create NPAs: SBI

State Bank of India is trying ensure availability of credit to car-buyers, and at low interest rates.

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BOI hoping to recover around Rs 2,500 crore in 2-3 quarters, says official

The recovery would be around Rs 2,500 crore from the eight to 10 big accounts, Chaitanya said.

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Automobile industry slowdown: SBI trying to resolve dealers’ financial woes

Extending credit period to auto dealers facing inventory build up issues among solutions proposed, says Managing Director PK Gupta

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Banks Board Bureau invites applications for top posts in PNB, Bank of India

Candidates can apply for the posts of MD and CEO at two public sector banks till September 16

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Banks Board Bureau invites applications for top posts in PNB, BOI

As per the BBB's recruitment notice, candidates can apply for the vacancies at PNB and BOI till September 16.

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Saturday, August 17, 2019

Net NPAs likely to come down to 6 per cent in Q2, Q3: Union Bank MD

With the net Non Performing Assets (NPAs) coming down, Union Bank of India is looking at good growth from this year, its MD and CEO Rajkiran Rai G sa

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Ujjivan Bank files draft red herring prospectus with SEBI

The shares being offered are at a face value of Rs 10 each, the USFB said

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RBI makes it easier to deposit gold under scheme

In a move to revive the flagging Gold Monetisation Scheme 2015, the Reserve Bank of India (RBI) has made it easier for depositors to hand over their holdings of the precious metal.

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ED attaches Rs 570 crore assets of IL&FS directors

The Enforcement Directorate (ED) on Friday filed its first chargesheet in the Infrastructure Leasing and Financial Services (IL&FS) Ltd money laundering case and attached assets worth over Rs 570 crore, including bank accounts and immovable properties (residential and commercial premises) situated in Delhi, Mumbai, Chennai and Brussels (Belgium) held by the members of committee of directors of IL&FS Financial Services Ltd (IFIN).

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PSU banks told to discuss roadmap for industry

Lenders have to initiate month-long consultation process on issues like credit growth, corp governance.

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Friday, August 16, 2019

‘PSBs must set up independent entity to screen and monitor loan seekers ’

Led by tech, the PSB Network will be able to exploit market-positioning and provide credit to a growing market: Chief Economic Adviser

from Business Line - Money & Banking https://ift.tt/2Z9Hjwe
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Hitachi Payment Services to expand white-label ATM network this fiscal

SurabhiCash-recycler machines are gaining popularity with the cost to run ATMs going up. Hitachi Payment Services is planning to double its white-lab

from Business Line - Money & Banking https://ift.tt/2NazKmI
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Repco Home posts profit of ₹62 cr

Repco Home Finance has reported a marginal increase in net profit at ₹62.3 crore for the quarter ended June 30, 2019, compared to ₹60.9 crore in the

from Business Line - Money & Banking https://ift.tt/2z30mOn
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Bank-loan fraud: ACB registers case against J&K Bank, Rawther Spices

The Anti-Corruption Bureau has registered a case against the J&K Bank management and Anish Mohd Rawther, the director of Rawther Spices Private Li

from Business Line - Money & Banking https://ift.tt/2MjxrOA
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Finance ministry asks PSBs to seek ideas from branches for achieving $5 trillion economy

The finance ministry has asked public sector banks to initiate a month-long consultation process with officers starting from branch level to seek suggestions for achieving a $5-trillion economy in five years. The suggestions emanating will be used as inputs to prepare a road map for the future growth of the banking sector.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/309NB0h
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PSBs on a massive review, beginning with branches and upwards

"The review will be based on 16 parameters, including efficiency and potential," said a senior banker.

from Banking/Finance-Industry-Economic Times https://ift.tt/2z1gQX5
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Digital payment apps face an uphill battle to turn India cashless

Apps still need to capture the rural market

from Business Line - Money & Banking https://ift.tt/2OYEqyw
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Expedite life cover claims in flood-hit states: IRDAI

The Insurance Regulatory Development Authority of India (IRDAI) has asked insurers to relax procedures wherever possible to expedite life insurance c

from Business Line - Money & Banking https://ift.tt/2KMIn4k
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India’s payment apps battle to catch China in squeezing out cash

That means Indians will continue to face a bewildering array of payments apps.

from Banking/Finance-Industry-Economic Times https://ift.tt/2N5F4b6
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Yes Bank QIP: 5 investors account for 65.5 per cent of total ₹ 1,930 cr raised

 Five investors -- Societe Generale, Key Square Master Fund LP, BNP Paribas Arbitrage, HDFC Trustee Co Ltd and Key Square Master Fund II LP -- togethe

from Business Line - Money & Banking https://ift.tt/2z3KsDq
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Q1 FY20 Results: Strong treasure gains help PSU banks post profit

Punjab National Bank (PNB) posted a net profit of Rs 1,019 crore in Q1FY20 against a loss of Rs 940 crore in the same quarter a year ago.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KCRCFf
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Indian Bank rolls out the repo-linked vehicle and home loans

Indian Bank on Thursday launched two new products, repo-linked home loan and vehicle loans, which will ensure instantaneous transmission of policy rate changes by the RBI to borrowers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Z83JOH
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Q1 FY20 Results: Strong treasure gains help PSU banks post profit

Punjab National Bank (PNB) posted a net profit of Rs 1,019 crore in Q1FY20 against a loss of Rs 940 crore in the same quarter a year ago.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KCRCFf
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Indian Bank rolls out the repo-linked vehicle and home loans

Indian Bank on Thursday launched two new products, repo-linked home loan and vehicle loans, which will ensure instantaneous transmission of policy rate changes by the RBI to borrowers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Z83JOH
Read more »

Indian Bank rolls out the repo-linked vehicle and home loans

Indian Bank on Thursday launched two new products, repo-linked home loan and vehicle loans, which will ensure instantaneous transmission of policy rate changes by the RBI to borrowers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Z83JOH
Read more »

Q1 FY20 Results: Strong treasure gains help PSU banks post profit

Punjab National Bank (PNB) posted a net profit of Rs 1,019 crore in Q1FY20 against a loss of Rs 940 crore in the same quarter a year ago.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KCRCFf
Read more »

Indian Bank rolls out the repo-linked vehicle and home loans

Indian Bank on Thursday launched two new products, repo-linked home loan and vehicle loans, which will ensure instantaneous transmission of policy rate changes by the RBI to borrowers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Z83JOH
Read more »

Q1 FY20 Results: Strong treasure gains help PSU banks post profit

Punjab National Bank (PNB) posted a net profit of Rs 1,019 crore in Q1FY20 against a loss of Rs 940 crore in the same quarter a year ago.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KCRCFf
Read more »

Indian Bank rolls out the repo-linked vehicle and home loans

Indian Bank on Thursday launched two new products, repo-linked home loan and vehicle loans, which will ensure instantaneous transmission of policy rate changes by the RBI to borrowers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Z83JOH
Read more »

Q1 FY20 Results: Strong treasure gains help PSU banks post profit

Punjab National Bank (PNB) posted a net profit of Rs 1,019 crore in Q1FY20 against a loss of Rs 940 crore in the same quarter a year ago.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KCRCFf
Read more »

Indian Bank rolls out the repo-linked vehicle and home loans

Indian Bank on Thursday launched two new products, repo-linked home loan and vehicle loans, which will ensure instantaneous transmission of policy rate changes by the RBI to borrowers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Z83JOH
Read more »

Q1 FY20 Results: Strong treasure gains help PSU banks post profit

Punjab National Bank (PNB) posted a net profit of Rs 1,019 crore in Q1FY20 against a loss of Rs 940 crore in the same quarter a year ago.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KCRCFf
Read more »

Indian Bank rolls out the repo-linked vehicle and home loans

Indian Bank on Thursday launched two new products, repo-linked home loan and vehicle loans, which will ensure instantaneous transmission of policy rate changes by the RBI to borrowers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Z83JOH
Read more »

Q1 FY20 Results: Strong treasure gains help PSU banks post profit

Punjab National Bank (PNB) posted a net profit of Rs 1,019 crore in Q1FY20 against a loss of Rs 940 crore in the same quarter a year ago.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KCRCFf
Read more »

Indian Bank rolls out the repo-linked vehicle and home loans

Indian Bank on Thursday launched two new products, repo-linked home loan and vehicle loans, which will ensure instantaneous transmission of policy rate changes by the RBI to borrowers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Z83JOH
Read more »

Delay becomes the norm in insolvency & bankruptcy cases

As much as 34% of the 1,292 cases in the bankruptcy courts up to June 2019 are delayed beyond 270 days.

from Banking/Finance-Industry-Economic Times https://ift.tt/33DLxzG
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Thursday, August 15, 2019

Key committees in IL&FS did not meet for years: RBI

The RBI report said some of the key committees in the crisis-ridden IL&FS did not convene any meetings at all in the last few years.

from Banking/Finance-Industry-Economic Times https://ift.tt/2YPqFHh
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Union Bank of India to list non performers, review them next three quarters

The bank said the exercise was not to penalise non-performers, but to guide them to realize their potential

from Banking/Finance-Industry-Economic Times https://ift.tt/2yZ4VsT
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Banks launch steps to boost KCC loans

The scheme will enable farmers buy seeds and fertilisers, and draw cash for their agri needs

from Business Line - Money & Banking https://ift.tt/2ZeenHS
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Reliance Capital posts four-fold jump in Q1 profit

Anil Ambani-led Reliance Capital reported an over four-fold jump in its consolidated net profit at Rs 1,218 core for the first quarter of the ongoin

from Business Line - Money & Banking https://ift.tt/2Tz0RsL
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CBI wants banks’ nod to probe execs in fraud cases

The Central Bureau of Investigation (CBI) has asked banks filing complaints against borrowers to also authorise the agency to investigate current and former employees. This follows complaints by banks to the finance ministry that they are being harassed by enforcement authorities.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/33wNDS2
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IDBI reports 11th quarterly loss in a row

IDBI Bank reported its 11th consecutive quarterly loss of Rs 3,800 crore for April-June 2019 as compared to Rs 2,409 crore in the corresponding period of the previous year. The bank was acquired by LIC in January this year after it hiked stake to 51% and infused Rs 21,624 crore.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/33BwSVZ
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Corporation Bank cuts MCLR by 15 bps

Corporation Bank has reduced its marginal cost of funds-based lending rate (MCLR) by 15 basis points on two tenors with effect from August 15.A press

from Business Line - Money & Banking https://ift.tt/2H8ktPB
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Axis Bank ex-chief Dharmesh Mehta and investors buy IDFC Securities

Former Axis Bank chief Dharmesh Mehta along with clutch of investors have acquired 100 per cent stake in IDFC Securities Ltd.“IDFC and IDFC Financial

from Business Line - Money & Banking https://ift.tt/2TAiuIT
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Grant Thornton alleges lapses in IL&FS’s transactions with client

In an interim report, Grant Thornton said it identified 65 instances where intraday benefits totalling Rs 2,417.87 crore were extended to AFSPL, thereby increasing the risk for ISSL.

from Banking/Finance-Industry-Economic Times https://ift.tt/2OUxx1f
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Loans against shares now a pricier affair

Interest rates surge by up to 300 basis points on fear of default and crash in share prices.

from Banking/Finance-Industry-Economic Times https://ift.tt/31FAOTC
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