HC notice to Centre on plea to nominate directors to Repco Bank

At present, there are only six nominated directors, including two from the petitioner association

from Business Line - Money & Banking http://bit.ly/2sNzTBp

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NCLAT: SC directs Centre to set up circuit benches in 6 months

This is expected to ensure additional presence of this Tribunal in many cities

from Business Line - Money & Banking http://bit.ly/2FPyKBQ

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Insolvency and Bankruptcy Code passes Supreme Court test; setback to defaulters

Supreme Court on Friday upheld the Insolvency & Bankruptcy Code’s constitutional validity in its ‘entirety’, and rejected petitions challenging the bankruptcy laws, in a major setback to defaulting promoters hoping for a chance to remain in control of their firms.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CK4F2q

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Insolvency and Bankruptcy Code passes Supreme Court test; setback to defaulters

Supreme Court on Friday upheld the Insolvency & Bankruptcy Code’s constitutional validity in its ‘entirety’, and rejected petitions challenging the bankruptcy laws, in a major setback to defaulting promoters hoping for a chance to remain in control of their firms.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CK4F2q

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Insolvency and Bankruptcy Code passes Supreme Court test; setback to defaulters

Supreme Court on Friday upheld the Insolvency & Bankruptcy Code’s constitutional validity in its ‘entirety’, and rejected petitions challenging the bankruptcy laws, in a major setback to defaulting promoters hoping for a chance to remain in control of their firms.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CK4F2q

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IL&FS says Spanish arm to undergo voluntary insolvency proceedings

IL&FS arm IL&FS Transportation Networks (ITNL) had acquired Elsamex SA of Spain, a road maintenance, operation and management company.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Uky5eT

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Atal Pension Yojana: PFRDA sees subscriber base at 1.5 cr by March

PFRDA wants the monthly pension limit raised to ₹10,000; hopes the Budget will announce changes to the scheme

from Business Line - Money & Banking http://bit.ly/2FOBjUy

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Performance security a must for corporate resolution, says IBBI

Supreme Court upholds IBC in its ‘entirety’

from Business Line - Money & Banking http://bit.ly/2G0ddWk

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Insolvency and Bankruptcy Code passes Supreme Court test; setback to defaulters

Supreme Court on Friday upheld the Insolvency & Bankruptcy Code’s constitutional validity in its ‘entirety’, and rejected petitions challenging the bankruptcy laws, in a major setback to defaulting promoters hoping for a chance to remain in control of their firms.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CK4F2q

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MSE loans: BoB aims to cover every district with specialised branches

Will be offered under Stand Up India, Pradhan Mantri Mudra Yojana schemes

from Business Line - Money & Banking http://bit.ly/2sJm1Ic

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IOB posts loss of ₹346 crore in Q3

Indian Overseas Bank (IOB) recorded a net loss of ₹346 crore for the quarter ended December 2018. This is down 64 per cent on a year-on-year basis fro

from Business Line - Money & Banking http://bit.ly/2MwSxX4

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With GE’s exit, SBI Card banks on multi-pronged strategy to be ‘future ready’

SBI Card, the country’s second-largest credit card issuer, has embarked on a multi-pronged strategy as part of its transformational journey to become

from Business Line - Money & Banking http://bit.ly/2sMdjJh

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Insolvency and Bankruptcy Code passes Supreme Court test; setback to defaulters

Supreme Court on Friday upheld the Insolvency & Bankruptcy Code’s constitutional validity in its ‘entirety’, and rejected petitions challenging the bankruptcy laws, in a major setback to defaulting promoters hoping for a chance to remain in control of their firms.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CK4F2q

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Insolvency and Bankruptcy Code passes Supreme Court test; setback to defaulters

Supreme Court on Friday upheld the Insolvency & Bankruptcy Code’s constitutional validity in its ‘entirety’, and rejected petitions challenging the bankruptcy laws, in a major setback to defaulting promoters hoping for a chance to remain in control of their firms.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CK4F2q

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Bank defaulters cannot get away for long: Jaitley

Welcoming the Supreme Court decision to uphold the validity of the Insolvency and Bankruptcy Code (IBC), Union minister Arun Jaitley on Friday warned

from Business Line - Money & Banking http://bit.ly/2RSTbnF

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Fresh NPAs down, strengthening internal mechanism: PNB

The bank recently recovered Rs 60 crore from disposing some of Modi's assets in the US, they said.

from Banking/Finance-Industry-Economic Times http://bit.ly/2S2uepe

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Insolvency and Bankruptcy Code passes Supreme Court test; setback to defaulters

Supreme Court on Friday upheld the Insolvency & Bankruptcy Code’s constitutional validity in its ‘entirety’, and rejected petitions challenging the bankruptcy laws, in a major setback to defaulting promoters hoping for a chance to remain in control of their firms.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CK4F2q

Read more »

Insolvency and Bankruptcy Code passes Supreme Court test; setback to defaulters

Supreme Court on Friday upheld the Insolvency & Bankruptcy Code’s constitutional validity in its ‘entirety’, and rejected petitions challenging the bankruptcy laws, in a major setback to defaulting promoters hoping for a chance to remain in control of their firms.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CK4F2q

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India Post Payments Bank crosses 1.25 lakh branches, soon to hit 1.5 lakh: Manoj Sinha

"Since the time of independence, there were around 1.3 lakh bank branches, we are going to provide more bank branches than that," Sinha said.

from Banking/Finance-Industry-Economic Times http://bit.ly/2MyHHQe

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India Post Payments Bank crosses 1.25 lakh branches: Sinha

The government has opened around 1.25 lakh branches of India Post Payments Bank and soon, it will have operations across over 1.5 lakh locations, Com

from Business Line - Money & Banking http://bit.ly/2WinfI0

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Indian Bank Q3 profit halves to Rs 152 cr

State-owned Indian Bank profit halved to Rs 152.26 crore for the third quarter ended December 2018, on account of rising provisions for bad loans.The

from Business Line - Money & Banking http://bit.ly/2B4emcd

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Supreme Court upholds bankruptcy code, setback for defaulters

The ruling upheld fledgling bankruptcy and insolvency rules and is expected to pave the way for banks to recover billions of dollars from bankrupt firms mired in litigation, lawyers said.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2HxiWFh

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SC upholds constitutional validity of Insolvency and Bankruptcy Code

The Supreme Court upheld a law that bars founders of companies that have defaulted on loans from buying back stressed assets, in a ruling that may hel

from Business Line - Money & Banking http://bit.ly/2SdfHY1

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Rs 64cr to Kochhars quid pro quo for Rs 300cr bank loan to Dhoot?

The CBI’s charge is that ICICI Bank sanctioned credit facilities of Rs 3,250 crore to Videocon group companies. On September 7, 2009, the bank disbursed Rs 300 cr to Videocon International and the next day a company originally floated by Dhoot, transferred Rs 64 crore into NuPower Energy a company floated by Chanda Kochhar’s spouse Deepak Kochhar

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2CI7NvF

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Damning Charges: CBI FIR against Chanda and Deepak Kochhar, Venugopal Dhoot for cheating

On Thursday, a day after it registered the FIR, the CBI conducted searches at four locations — the Mumbai and Aurangabad offices of Videocon Group and offices of Nupower Renewables and Supreme Energy in Mumbai.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2sMg0ud

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Money to Videocon for refinancing its loans also against bank's policy

The agency turned its preliminary enquiry (PE), registered in December 2017, into an FIR after it concluded that Kochhar had indeed connived with her husband and Dhoot.

from Banking/Finance-Industry-Economic Times http://bit.ly/2T8JaiR

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Damning Charges: CBI FIR against Chanda and Deepak Kochhar, Venugopal Dhoot for cheating

On Thursday, a day after it registered the FIR, the CBI conducted searches at four locations — the Mumbai and Aurangabad offices of Videocon Group and offices of Nupower Renewables and Supreme Energy in Mumbai.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2sMg0ud

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Chanda Kochhar got 'illegal gratification' through her husband

Being the head of ICICI Bank, CBI says, Chanda Kochhar approved six loans to Venugopal N Dhoot's Videocon group between June 2009 and October 2011. One such loan - a rupee term loan (RTL) worth Rs 300 crore was given to Videocon International Electronics Ltd (VIEL), in which Kochhars got the bribe instantly.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2FWUw5F

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Damning Charges: CBI FIR against Chanda and Deepak Kochhar, Venugopal Dhoot for cheating

On Thursday, a day after it registered the FIR, the CBI conducted searches at four locations — the Mumbai and Aurangabad offices of Videocon Group and offices of Nupower Renewables and Supreme Energy in Mumbai.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2sMg0ud

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Damning Charges: CBI FIR against Chanda and Deepak Kochhar, Venugopal Dhoot for cheating

On Thursday, a day after it registered the FIR, the CBI conducted searches at four locations — the Mumbai and Aurangabad offices of Videocon Group and offices of Nupower Renewables and Supreme Energy in Mumbai.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2sMg0ud

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With tight liquidity conditions, IMGC sees demand for mortgage guarantee products

Many NBFCs and housing finance companies (HFCs) have either stopped or slowed down disbursements

from Business Line - Money & Banking http://bit.ly/2HtHvms

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CBI FIR tears into clean chit Chanda Kochhar got from ICICI board

The board gave her a clean chit immediately after allegations surfaced in March 2018 saying there was “no question of any quid pro quo/ nepotism/ conflict of interest.”

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CJdM3j

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CBI FIR tears into clean chit Chanda Kochhar got from ICICI board

The board gave her a clean chit immediately after allegations surfaced in March 2018 saying there was “no question of any quid pro quo/ nepotism/ conflict of interest.”

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CJdM3j

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CBI FIR tears into clean chit Chanda Kochhar got from ICICI board

The board gave her a clean chit immediately after allegations surfaced in March 2018 saying there was “no question of any quid pro quo/ nepotism/ conflict of interest.”

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CJdM3j

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CBI FIR tears into clean chit Chanda Kochhar got from ICICI board

The board gave her a clean chit immediately after allegations surfaced in March 2018 saying there was “no question of any quid pro quo/ nepotism/ conflict of interest.”

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CJdM3j

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PSU bankers raise questions about delay in RBI action against former ICICI Bank chief Chanda Kochhar

On condition of anonymity, the bankers also claimed that while the RBI has been acting very promptly in penalising top officials of public sector banks even for procedural lapses, it appears that the relatively strong case regarding Kochhar was not dealt with appropriately.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2RRqJ5B

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CBI FIR tears into clean chit Chanda Kochhar got from ICICI board

The board gave her a clean chit immediately after allegations surfaced in March 2018 saying there was “no question of any quid pro quo/ nepotism/ conflict of interest.”

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CJdM3j

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CBI FIR tears into clean chit Chanda Kochhar got from ICICI board

The board gave her a clean chit immediately after allegations surfaced in March 2018 saying there was “no question of any quid pro quo/ nepotism/ conflict of interest.”

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CJdM3j

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PSU bankers raise questions about delay in RBI action against former ICICI Bank chief Chanda Kochhar

On condition of anonymity, the bankers also claimed that while the RBI has been acting very promptly in penalising top officials of public sector banks even for procedural lapses, it appears that the relatively strong case regarding Kochhar was not dealt with appropriately.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2RRqJ5B

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PSU bankers raise questions about delay in RBI action against former ICICI Bank chief Kochhar

After allegations of quid pro quo surfaced in 2016, law firm Cyril Amarchand Mangaldas had given a report regarding the role of Kochhar in the matter.

from Banking/Finance-Industry-Economic Times http://bit.ly/2WfL6Ic

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RBI to strenghten PCR ‘for a 360-degree view of borrowers’

The PCR has been envisaged as a database of core credit information

from Business Line - Money & Banking http://bit.ly/2U9rB24

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UK court dismisses PNB claim in $45-m loan case

The bank alleged it was ‘misled’ into advancing the money to fund energy projects in the US

from Business Line - Money & Banking http://bit.ly/2DyuLqP

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YES Bank: Strong core performance, change in leadership comfort investors

But uncertainty over the bank’s FY18 divergence report remains

from Business Line - Money & Banking http://bit.ly/2AWHMZp

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PNB's $45 million fraud claim dismissed by English court

The High Court, England, on Thursday dismissed a $45 million fraud claim by the UK subsidiary of Punjab National Bank (PNB) against seven individuals and two companies based in India and the US.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Dxbd68

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PNB Housing Finance Q3 profit up 32%

PNB Housing Finance Thursday reported a 32 per cent rise in consolidated net profit at ₹ 303 crore in the third quarter ended December 2018. Its net

from Business Line - Money & Banking http://bit.ly/2UfU1rA

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All you need to know about the alleged Kochhar-Dhoot nexus

The Videocon loan issue was first raised by whistle-blower Arvind Gupta in 2016 when he wrote about it on a blog. He accused Chanda Kochhar of conflict of interest and corporate misconduct while sanctioning loans to Videocon.

from Banking/Finance-Industry-Economic Times http://bit.ly/2HCKLMK

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Yes Bank names Deutsche Bank’s Ravneet Gill as new MD, CEO; posts fall in Q3 net profit

Yes Bank on Thursday said that it has received RBI’s approval to appoint Ravneet Gill of Deutsche Bank India as MD & CEO to replace Rana Kapoor.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2TayNLz

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CBI books Chanda Kochhar as accused in ICICI Bank-Videocon loan case

CBI has reportedly registered a case against ICICI Bank's former MD & CEO Chanda Kochhar in the high-profile Videocon loan case, which led to her unceremonial exit from the bank amid allegations of impropriety in giving a loan to a company related to her husband's business.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2FM7wMn

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New YES Bank CEO Ravneet Gill is a cricket and art fan

New YES Bank CEO Ravneet Gill has played competitive cricket and also knows many Indian cricketers.

from Banking/Finance-Industry-Economic Times http://bit.ly/2DvaWRg

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Parthasarathi Mukherjee to head Lakshmi Vilas Bank for another two years

Mukherjee will he at the helm for another two years from January 25. The decision was taken by the board Wednesday. Reserve Bank of India has approved his reappointment.

from Banking/Finance-Industry-Economic Times http://bit.ly/2FJF1yR

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SBI Card and Etihad Guest tie-up to launch premium card for international travel

SBI Card, a leading credit card issuer, and Etihad Guest, the loyalty programme of Etihad Airways, have joined hands to launch a travel specific Visa

from Business Line - Money & Banking http://bit.ly/2B2NAkj

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Yes Bank names Ravneet Gill as new MD & CEO

Net profit fell to Rs 1,002 crore ($140.73 million) in the three months to December 31 from Rs 1,077 crore a year earlier. That missed analysts' average estimate of Rs 1,060 crore, according to I/B/E/S data from Refinitiv.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2RLWnBH

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Yes Bank names Ravneet Singh Gill as new CEO

Yes Bank said on Thursday that it got the central bank's approval to name Ravneet Singh Gill as its new chief executive officer.The private sector ba

from Business Line - Money & Banking http://bit.ly/2R6sFlD

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Videocon loan case: Former ICICI Bank CEO Chanda Kochhar named in CBI FIR

The Central Bureau of Investigation (CBI) has named former ICICI Bank chief Chanda Kochhar, her husband Deepak Kochhar and Videocon chairman Venugopal Dhoot in its FIR. Ten months after it filed a preliminary enquiry (PE) to probe Kochhars' dealings with Videocon chief, CBI has registered a case in the matter.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2S896O8

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CBI files case against former ICICI Bank chief Chanda Kochhar

Searchers were conducted at various places after the filing of the FIRs. These include Videocon and NuPower offices in Mumbai and Aurangabad.

from Banking/Finance-Industry-Economic Times http://bit.ly/2sHK9e6

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CBI registers FIR in ICICI Bank-Videocon loan case

It is alleged that Videocon promoter Venugopal Dhoot allegedly invested crores of Rupees in Nupower months after the Videocon group got Rs 3,250 crore as loan from the ICICI Bank in 2012, CBI officials said. The agency had registered a preliminary enquiry against Videocon promoter Venugopal Dhoot, Deepak Kochhar and unidentified others in March last year.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2FXKZLJ

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CBI registers FIR in ICICI Bank-Videocon loan case

The CBI has registered an FIR in connection with alleged irregularities in the Rs 3,250 crore ICICI Bank-Videocon loan case and is carrying out searc

from Business Line - Money & Banking http://bit.ly/2sHik5N

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Home Credit has grown to become one of the largest consumer durables loan providers in India

Home Credit has taken the NBFC loans segment by storm and expects India to become a core market soon.

from Banking/Finance-Industry-Economic Times http://bit.ly/2sIv2Bt

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SFIO quizzes bankers on Nirav Modi deals

Officials from six banks have been questioned so far and the agency is expected to reach out to others in the next few days.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Ta3Uqp

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Danske: Fed probing Deutsche role

The US Federal Reserve is investigating Deutsche Bank’s role in a money laundering scheme that has embroiled both it and Denmark’s Danske Bank. The Fe

from Business Line - Money & Banking http://bit.ly/2CDcbMr

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Now, Govt may allow NRIs to subscribe to municipal bonds

This will also give them a chance to take part in Swachh Bharat projects

from Business Line - Money & Banking http://bit.ly/2RLGnQ4

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TReDS platform M1xchange raises Series A funding from Mayfield and SIDBI Ventures

M1xchange, a digital invoice discounting platform for Micro, Small and Medium Enterprises (MSMEs), has raised Series A round of venture capital from M

from Business Line - Money & Banking http://bit.ly/2CDc6bB

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Future Generali to sell insurance products at Big Bazaar, Easyday stores

In what could be a significant boost to its distribution network, private sector insurer Future Generali plans to enter into a partnership with Futur

from Business Line - Money & Banking http://bit.ly/2MruSY7

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To cut costs, Catholic Syrian Bank plans to reduce retirement age of officers to 58

At 23% of the bank’s income, salary expense is very high, says CMD

from Business Line - Money & Banking http://bit.ly/2sJ9QLw

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Ujjivan Financial posts Q3 net profit of ₹11 cr

Ujjivan Financial Services has posted a net profit of ₹10.86 crore on standalone basis in the third quarter of FY19, against a net loss of ₹38.91 c

from Business Line - Money & Banking http://bit.ly/2MsnT14

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StanChart needs more to right the ship

While a share repurchase, which maybe announced as early as next month, could buy some time, Temasek Holdings Pte won’t be satisfied for too long wit

from Business Line - Money & Banking http://bit.ly/2sQkuQR

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Magma Fincorp targets 20% business growth in Haryana during FY19

Mumbai-based Magma Fincorp Ltd Wednesday said it is eyeing a 20 per cent growth in its business in Haryana during the current financial year. Magma d

from Business Line - Money & Banking http://bit.ly/2MvSZFa

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Bank of Maharashtra Q3 net loss widens 7-fold to Rs 3,764 crore

State-owned Bank of Maharashtra on Wednesday reported over seven-fold increase in its net loss to Rs 3,764.26 crore during the quarter ended December

from Business Line - Money & Banking http://bit.ly/2U8RkI3

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Right regulations good for NBFCs: Sanjiv Bajaj

He said non-banking financial companies (NBFCs) have always seen lighter regulations though they have been doing 70 per cent of the work done by a bank.

from Banking/Finance-Industry-Economic Times http://bit.ly/2T9YnA6

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How water crisis in India can worsen bank NPA problem: report

About 40 per cent of the gross credit exposure of Indian banks is in sectors where water risks are significant

from Business Line - Money & Banking http://bit.ly/2AZmQkJ

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Water crisis in India could further worsen bank NPA problem: WWF report

According to the report, close to 40 per cent of the gross credit exposure of Indian banks is in sectors where water risks are significant.

from Banking/Finance-Industry-Economic Times http://bit.ly/2HqGL1q

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Vijaya Bank Q3 net profit surges 80% to Rs 143 cr

State-owned Vijaya Bank on Wednesday reported a 80.2 per cent jump in its net profit to Rs 143.38 crore for the December 2018 quarter. The public sect

from Business Line - Money & Banking http://bit.ly/2RKVady

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Water crisis in India could further worsen bank NPA problem: Report

At a time when the banking sector is grappling with mounting NPAs, the World Wildlife Fund (WWF) report released Wednesday said water risks could pose further "liquidity constraints" on the strained balance sheets of banks.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2U4XBVg

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Sensex dives 336 points on weak global cues; Nifty ends below 10,850

On the BSE index, ITC, PowerGrid, Infosys, Mahindra & Mahindra, NTPC and SBI were among the worst performers, sliding as much as 4.16 per cent. On NSE, sub-indices Nifty FMCG and PSU Bank tracked heavy losses, down as much as 1.69 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2RVQmBJ

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Budget 2019: What the govt can do for financial services

A live issue requiring government and regulator intervention is the liquidity crisis being faced by NBFCs.

from Banking/Finance-Industry-Economic Times http://bit.ly/2AYi6vs

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Now SBI chases Mehul Choksi for Rs 405 crore loan default

This is the first time the country's biggest bank's exposure has been revealed in the case involving Choksi

from Banking/Finance-Industry-Economic Times http://bit.ly/2Tae3TV

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BOJ cuts inflation view, keeps stimulus as risks to economy heighten

Keeps interest rate target unchanged

from Business Line - Money & Banking http://bit.ly/2MqXqB9

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NCLT caps withdrawal limit from banks for former ILFS directors

In December, the National Compact Law Appellate Tribunal had said that a sum of Rs 2 lakh per month can be withdrawn from bank accounts after intimating the tribunal.

from Banking/Finance-Industry-Economic Times http://bit.ly/2FIyt3C

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Loan sizes higher when women borrow

BankBazaar CEO Adhil Shetty said the higher loan amount when a woman applies could indicate it’s a household with two incomes, unlike when a male applies, where he could be the only breadwinner. Banks also have special loan offers for women, with interest rates many basis points (100bps = 1 percentage point) lower than for men.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2Dtp5OE

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India's Lehman genie is out of the bottle again

An immediate order to IL&FS’s new board to honor securitized debt is the need of the hour.

from Banking/Finance-Industry-Economic Times http://bit.ly/2T8q7Fr

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Exposure to IL&FS: Government to ask RBI for relief to banks

Public sector banks (PSBs) — already saddled with non-performing assets — will be hit harder than private peers as their capital base could shrink further and force them to turn to the government for larger infusion.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2RGmyd1

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Exposure to IL&FS: Government to ask RBI for relief to banks

Public sector banks (PSBs) — already saddled with non-performing assets — will be hit harder than private peers as their capital base could shrink further and force them to turn to the government for larger infusion.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2RGmyd1

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Unconditional cash transfer to farmer better option: SBI Report

Many countries have found that UBI does not address the structural problems and is at best a solution in interregnum.

from Banking/Finance-Industry-Economic Times http://bit.ly/2W9BjDz

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World Bank steps in to defuse IL&FS Ethiopia crisis

Asks Ethiopian Roads Authority to resolve the issue at the earliest

from Business Line - Money & Banking http://bit.ly/2MthsLm

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PNB: Agyey Kumar joins as Executive Director

Punjab National Bank has a new Executive Director in Agyey Kumar Azad. He was previously General Manager at Bank of India and was posted at Nairobi, K

from Business Line - Money & Banking http://bit.ly/2sFQZkv

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General insurers seek more sops for health insurance, reduction in GST

Increase in health insurance premium exemption level, boost to mass insurance schemes, and reduction in GST are the key points that general insurers w

from Business Line - Money & Banking http://bit.ly/2MrqXdE

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YES Bank ties up with Maharashtra to onboard fair price shops as BCs

The Maharashtra government has partnered with private sector lender YES Bank, under its e-PDS State programme, to onboard fair price shops (FPS) as B

from Business Line - Money & Banking http://bit.ly/2FEr2KN

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No more gloom: Insurers focus on health, wellness to woo customers

Longer lifespan & rising incomes turning out to be life-changers for insurance companies

from Business Line - Money & Banking http://bit.ly/2FRZlgz

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ICICI Pru Life profit down 34%

Private sector ICICI Prudential Life Insurance posted a 34.35 per cent drop in net profit in the third quarter of the fiscal, coupled with low growth

from Business Line - Money & Banking http://bit.ly/2sHDz7I

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HDFC Life Insurance Q3 net up 18%

Private sector HDFC Life Insurance has posted an 18.47 per cent increase in net profits for the third quarter of the fiscal despite low growth in inc

from Business Line - Money & Banking http://bit.ly/2MmFhnK

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ICICI Bank, top arranger of bond issues this fiscal

ICICI Bank has become the top arranger of bond issues for the period between April and December 2018.According to data from Prime Database, the privat

from Business Line - Money & Banking http://bit.ly/2U9b7qK

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Central Bank ED demits office

BK Divakara demitted office as Executive Director (ED) of Central Bank of India on Tuesday after completion of his fixed tenure of five years. He had

from Business Line - Money & Banking http://bit.ly/2REfEom

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Yes Bank partners with Maharashtra government for electronic PDS

Under the partnership, Yes Bank will empower more than 20,000 ration shops which can offer last mile basic banking services to more than seven lakh beneficiaries.

from Banking/Finance-Industry-Economic Times http://bit.ly/2MvwG2t

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IL&FS time bomb ticks

IL&FS' business model was predicated on creating SPVs to conduct business and the majority of such entities are in a financial disarray. In Maharashtra alone, IL&FS Group has 88 such SPVs like Khambhat Port Ltd, Charminar Robopark Ltd, East Hyderabad Expressway, etc.

from Banking/Finance-Industry-Economic Times http://bit.ly/2FFvXed

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EU fines Mastercard $648m over cross-border barriers

"By preventing merchants from shopping around for better conditions offered by banks in other member states, Mastercard's rules artificially raised the costs of card payments, harming consumers and retailers in the EU," European Competition Commissioner Margrethe Vestager said in a statement.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2HAmFBU

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Anushree Jindal launches maiden biz venture Svamaan Financial Services

Svamaan aims to reach and positively impact the lives of over one lakh customers by 2021

from Business Line - Money & Banking http://bit.ly/2RFyoE4

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Infrastructure companies worried over refinancing rupee loans under RBI’s new ECB framework

Repayment of rupee loans included in negative list of end-uses

from Business Line - Money & Banking http://bit.ly/2R5QJF5

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Sensex drops over 100 points on profit-booking

The BSE 30-share barometer dropped 134.05 points, or 0.37 per cent, to 36,444.91 in early trade as index major Reliance Industries, Tata Steel, Tata Motors, ICICI Bank and Maruti Suzuki declined.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2T7o0S2

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High GDP growth, regulatory reforms to boost insurance penetration in India: Moody’s

Expressing confidence about the country’s insurance sector, global ratings agency Moody’s on Tuesday said it will grow strongly on the back of robust

from Business Line - Money & Banking http://bit.ly/2R3eKNe

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IBC imposes discipline, delays still a drag: Stakeholders

All participants of the code are also unanimous in their view that the new law has improved credit discipline among large borrowers.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Mmv9LP

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Srei Infra to list equipment finance arm via demerger scheme

The company will de-merge the equipment finance business through a three-stepped amalgamation scheme.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Mp5WQM

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‘Lender evolves model to resolve stressed assets in infra space’

Union Bank of India has evolved a model for resolution of stressed assets in the infrastructure space by seeking to bundle the parent company and the

from Business Line - Money & Banking http://bit.ly/2R3JVrt

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Policybazaar.com strengthens leadership team

PolicyBazaar appoints CTO, CPO

from Business Line - Money & Banking http://bit.ly/2U6Gjae

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With claims ratio beating industry standards in FY18, Max Life Insurance’s two-pronged strategy pays off

Leverages technology to weed out fraudulent claims

from Business Line - Money & Banking http://bit.ly/2DpGN5C

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More IL&FS staff in Ethiopia claim wages not paid for 6-8 months; refuse to return

4 employees remain hostage of local staff; they also haven’t got salaries since July 2018

from Business Line - Money & Banking http://bit.ly/2U6Gfr0

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HUDCO Q3 profit up 27 per cent to ₹328 cr

State-owned Housing and Urban Development Corporation (HUDCO) on Monday reported a 27 per cent increase in its net profit to ₹328.26 crore for the qu

from Business Line - Money & Banking http://bit.ly/2RE8Jvj

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L&T Finance Q3 profit surges 81% to Rs 581 cr

L&T Finance Holdings, arm of engineering firm Larsen & Toubro, on Monday posted a 81 per cent rise in consolidated net profit to Rs 581 crore

from Business Line - Money & Banking http://bit.ly/2CDvZzd

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Policy holders may get option to receive accident/health claim benefits in installments

IRDAI had set up a working group to study the proposal

from Business Line - Money & Banking http://bit.ly/2RDB98R

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IDBI Bank decides to continue with existing MD, DMDs

Kandwal is the director and the chief executive officer of LICHFL Care Homes Ltd.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2R57U9M

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Union Bank of India third-quarter profit misses estimates

Net profit was 1.53 billion rupees ($21.48 million) in the three months to Dec. 31, 2018, compared to a loss of 12.50 billion rupees a year earlier, the bank said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2DnYqmC

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MSME funding: How fintechs can play key role in making financing easier for small businesses

Indian financial system has traditionally not been a level playing field between large enterprises versus small businesses.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2U0so5m

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IDBI Bank decides to continue with existing MD, DMDs

Kandwal is the director and the chief executive officer of LICHFL Care Homes Ltd.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2R57U9M

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Union Bank of India third-quarter profit misses estimates

Net profit was 1.53 billion rupees ($21.48 million) in the three months to Dec. 31, 2018, compared to a loss of 12.50 billion rupees a year earlier, the bank said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2DnYqmC

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MSME funding: How fintechs can play key role in making financing easier for small businesses

Indian financial system has traditionally not been a level playing field between large enterprises versus small businesses.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2U0so5m

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Investments where returns don’t matter

A savings account in a bank or liquid funds are the best places to park an emergency fund. The yield is low, but the aim is not to generate an income or get a good rate of return. “A liquid fund or low duration fund is better than a savings account,” says Sanjiv Singhal, founder and COO, Scripbox.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2T3UZ9T

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A banking revolution: Looking at the sector through Jaitley's Budgets

Banking is one sector that has seen major changes after the NDA government came to power in May 2014.

from Banking/Finance-Industry-Economic Times http://bit.ly/2REliH3

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IDBI Bank shares tumble over 3 per cent post acquisition by LIC

IDBI Bank has about 1.5 crore retail customers and about 18,000 employees

from Business Line - Money & Banking http://bit.ly/2Mnt9Dg

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ICICI Bank launches premium savings account for men

‘The ONE’ offers account holders a host of benefits

from Business Line - Money & Banking http://bit.ly/2CAlEnX

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SIB shares slump over 8 per cent post Q3 results

Over 6.2 crore shares were traded on the stock exchanges

from Business Line - Money & Banking http://bit.ly/2Hq0Oxf

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Allianz Global Corporate sets up India reinsurance branch

Bullish about India's reinsurance market but plans a selective approach

from Business Line - Money & Banking http://bit.ly/2HoMq8v

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Nepal's central bank announces ban of Indian notes above Rs 100

Nepal Rastra Bank on Sunday issued a circular prohibiting Nepali travellers, banks and financial institutions from holding or carrying and trading Indian bank notes higher than Rs 100, the Kathmandu Post reported.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2FNTwkg

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Union Bank of India Q3 net profit at ₹ 153 cr

State-owned lender Union Bank of India on Monday reported a net profit of ₹ 153.21 crore for the third quarter ended December 2018. The bank had pos

from Business Line - Money & Banking http://bit.ly/2HoI2q3

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Other income, lower provisioning help Union Bank post net profit of Rs 153 cr

Higher other income and a lower burden of loan loss provisions helped Union Bank of India report a net profit of Rs 153 crore in the quarter ended Dec

from Business Line - Money & Banking http://bit.ly/2T0D1oO

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IDBI Bank decides to continue with existing MD, DMDs

Insurance giant LIC has completed acquisition of 51 per cent controlling in the bank, IDBI Bank said in a regulatory filing on Monday.

from Banking/Finance-Industry-Economic Times http://bit.ly/2FFBKjQ

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Kotak Mahindra Bank profit climbs 23% on higher interest income

Kotak Mahindra Bank on Monday reported a 23 per cent rise in third-quarter net profit, helped by higher interest income and a write-back of provisions

from Business Line - Money & Banking http://bit.ly/2FOOR1q

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Mehul Choksi surrenders his Indian passport

Choksi and his nephew Nirav Modi, in connivance with certain bank officials, allegedly cheated Punjab National Bank (PNB) of about Rs 14,000 crore through issuance of fraudulent letters of undertaking. A Mumbai branch of PNB had fraudulently issued LoUs for the group of companies belonging to Nirav Modi since March 2011.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2CzWbL7

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LIC completes acquisition of 51% stake in IDBI Bank

"The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with an opportunity to create enormous value for shareholders, customers & employees of both entities through mutual synergies," IDBI Bank said in a BSE filing.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2FKJeS9

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LIC to have 5 representatives on IDBI Bank; top management to continue

Following the completion of the acquisition of 51 per cent controlling stake by the Life Insurance Corporation of India (LIC) in IDBI Bank, the life i

from Business Line - Money & Banking http://bit.ly/2W9s4TI

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Sensex jumps over 200 points; Nifty above 10,950

Reliance Industries, Sun Pharma, Infosys, Bajaj Finance, HDFC Bank and Bharti Airtel were among the top trading stocks on the BSE platform with their stocks rising as much as 2,75 per cent. On NSE, except for Nifty Realty, all other sub-indices were trading in green with Nifty Pharma leading the pack, up 1.13 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2DnBKTn

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View: India swaps bankruptcy teeth for dentures

The billionaire Ruia brothers have used every trick in the book to ensure their prized asset stays in the family, despite owing financial creditors 508 billion rupees ($6.3 billion) in unpaid dues.

from Banking/Finance-Industry-Economic Times http://bit.ly/2AUGrSV

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Better performing banks will be out of Reserve Bank’s prompt corrective action, says official

The recapitalisation will enhance the lending capacity of public sector banks and help them come out of the RBI's watch list.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2T4pOLT

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Better performing banks will be out of Reserve Bank’s prompt corrective action, says official

The recapitalisation will enhance the lending capacity of public sector banks and help them come out of the RBI's watch list.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2T4pOLT

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Government stepping in to help expedite the resolution of top defaulters

The government has called a meeting on Monday with the resolution professionals and lenders of the dozen cases, three people familiar with the matter.

from Banking/Finance-Industry-Economic Times http://bit.ly/2W5JL6I

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LIC runs for cover as pvt players grab market share

Lacklustre online presence, high premium and reliance on traditional plans hurt insurance giant

from Business Line - Money & Banking http://bit.ly/2Dphz7B

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MUDRA refinancing: FIDC seeks favourable eligibility norms for NBFCs

Wants all RBI-registered NBFCs to be eligible for refinance

from Business Line - Money & Banking http://bit.ly/2U5dF9h

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NSEL scam: SFIO wants DCB Bank licence cancelled

Bank partnered with brokerage IICL to induce clients to trade on NSEL

from Business Line - Money & Banking http://bit.ly/2DmlPVk

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Nirav Modi scam: Centre sacks two EDs at PNB

The Centre has sacked Punjab National Bank’s two Executive Directors – Sanjiv Sharan and KV Brahmaji Rao – six months after show-cause letters were is

from Business Line - Money & Banking http://bit.ly/2FDg6wH

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A check on unregulated deposits

To safeguard investors, a law banning unregulated deposits is on the anvil

from Business Line - Money & Banking http://bit.ly/2CxgdG9

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Jana Small Finance Bank: A good option to optimise your returns

The SFB’s fixed deposit is an attractive option for those who don’t have much appetite for risk

from Business Line - Money & Banking http://bit.ly/2REEkx9

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Some better performing banks likely to be out of PCA: Rajiv Kumar

Eleven out of the total 21 public sector banks are under the central bank's PCA framework, which imposes lending restrictions and prevents them from expanding, among other curbs.

from Banking/Finance-Industry-Economic Times http://bit.ly/2FEq1SF

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South Indian Bank's Q3 net profit down 27 per cent

The elevated provisions for NPAs have dragged down the net profit of the private sector lender South Indian Bank (SIB) in the third quarter of FY19.

from Business Line - Money & Banking http://bit.ly/2FO3rGz

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Government sacks two Punjab National Bank executives for alleged lapses in $2 billion fraud: Sources

The government then fired two executives because "they failed to use global payments network SWIFT to detect the fraud", the sources said, declining to be identified because the reasons for the sacking have not been made public.

from Banking/Finance-Industry-Economic Times http://bit.ly/2ASYf0O

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Lenders can move insolvency plea against guarantor without initiating CIRP for defaulting co: NCLAT

A three member bench of the appellate tribunal in a judgement said that corporate guarantors are also financial creditors.

from Banking/Finance-Industry-Economic Times http://bit.ly/2MkjjSq

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HDFC Bank Q3 net profit up 20.3% on-year to Rs 5,586 crore; key figures in a nutshell

India's major private sector lender HDFC Bank has reported a 20.3% on-year rise in net profit to Rs 5,586 crore for the October-December period, in line with street estimates. We take a closer look at the results.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2RCXx2f

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