RBI to examine merger proposal of Indiabulls and LVB

The Reserve Bank on Saturday said it will examine the merger proposal of Lakshmi Vilas Bank and Indiabulls Housing Finance Ltd. The statement comes amidst report that the presence of two nominee directors of the Reserve Bank of India (RBI) on the board of Lakshmi Vilas Bank implies the central bank's indirect approval of the proposal.

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

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Bank of India bids adieu; looks to sell insurance JV stake, boost kitty by Rs 1,105 crore

State-run Bank of India is looking to raise up to about Rs 1,105 crore by divesting its 25.05% stake in its insurance joint venture with Union Bank of India and Japan-based life insurance company Dai-ichi-Life Holdings.

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

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Bank of India bids adieu; looks to sell insurance JV stake, boost kitty by Rs 1,105 crore

State-run Bank of India is looking to raise up to about Rs 1,105 crore by divesting its 25.05% stake in its insurance joint venture with Union Bank of India and Japan-based life insurance company Dai-ichi-Life Holdings.

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

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93-year-old bank finds ‘rich parent’

Started by a group of seven progressive businessmen of Karur under the leadership of V S N Ramalinga Chettiar in 1926, the objective of the bank was to cater to the financial needs of the people in and around the town who were occupied in trading businesses, industry and agriculture.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2G34xOp

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Bank of India bids adieu; looks to sell insurance JV stake, boost kitty by Rs 1,105 crore

State-run Bank of India is looking to raise up to about Rs 1,105 crore by divesting its 25.05% stake in its insurance joint venture with Union Bank of India and Japan-based life insurance company Dai-ichi-Life Holdings.

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

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David Malpass named World Bank President

The US Treasury's undersecretary for international affairs, will start his new role on April 9

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

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Indiabulls Housing to merge Lakshmi Vilas Bank with itself

The proposed new entity will be named Indiabulls Lakshmi Vilas Bank with Sameer Gehlaut, the current chairman of IBHFL, taking over as its vice-chairman. Gagan Banga, currently VC & MD of the housing finance company, and Parthasarathi Mukherjee, current MD of the bank, will become the joint MDs.

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

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A 93-year-old bank in Tamil Nadu is getting a rich parent from Mumbai

The merger ends a decade-old institution, started by a group of businessmen to promote trade in western Tamil Nadu.

from Banking/Finance-Industry-Economic Times http://bit.ly/2G5M1UD

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Bank of India to sell 25.05% stake in life insurance joint venture

Established in February 2009, Star Union Dai-ichi Life’s (SUD Life) premium income stood at Rs 1,211 crore, while its profit after tax stood at Rs 55 crore during April-December 2018-19.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VrpE22

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SBI is geared to meet any additional demand for housing loans

The bank, which witnessed a spike in NPAs in its home loan portfolio post the merger of the associate banks, expects the NPA levels to dip with improvements in underwriting and recoveries.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CZADc9

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HDFC Bank March advances rise 5%, deposits grow 17%

he bank said it has purchased loans aggregating Rs 19.24 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation, during the quarter ended March this year.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VpVj47

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RBI may need to rethink age limit for bank CEOs

70-year cap means that two top performers are set to hang up their boots next year.

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

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Bank of India to sell 25.05% stake in life insurance joint venture

Established in February 2009, Star Union Dai-ichi Life’s (SUD Life) premium income stood at Rs 1,211 crore, while its profit after tax stood at Rs 55 crore during April-December 2018-19.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VrpE22

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SBI is geared to meet any additional demand for housing loans, says Parveen Kumar Gupta, MD-Retail & Digital Banking

The bank, which witnessed a spike in NPAs in its home loan portfolio post the merger of the associate banks, expects the NPA levels to dip with improvements in underwriting and recoveries.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CZADc9

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Economy on track: HDFC Bank advances rise 5%, deposits grow 17% in March

he bank said it has purchased loans aggregating Rs 19.24 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation, during the quarter ended March this year.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VpVj47

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Lakshmi Vilas Bank, Indiabulls Housing open a joint account

LVB shareholders to get 14 shares of Indiabulls Housing Finance for every 100 shares held.

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

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Bank of India to sell 25.05% stake in life insurance joint venture

Established in February 2009, Star Union Dai-ichi Life’s (SUD Life) premium income stood at Rs 1,211 crore, while its profit after tax stood at Rs 55 crore during April-December 2018-19.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VrpE22

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SBI is geared to meet any additional demand for housing loans, says Parveen Kumar Gupta, MD-Retail & Digital Banking

The bank, which witnessed a spike in NPAs in its home loan portfolio post the merger of the associate banks, expects the NPA levels to dip with improvements in underwriting and recoveries.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CZADc9

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Economy on track: HDFC Bank advances rise 5%, deposits grow 17% in March

he bank said it has purchased loans aggregating Rs 19.24 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation, during the quarter ended March this year.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VpVj47

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Bank of India to sell 25.05% stake in life insurance joint venture

Established in February 2009, Star Union Dai-ichi Life’s (SUD Life) premium income stood at Rs 1,211 crore, while its profit after tax stood at Rs 55 crore during April-December 2018-19.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VrpE22

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SBI is geared to meet any additional demand for housing loans, says Parveen Kumar Gupta, MD-Retail & Digital Banking

The bank, which witnessed a spike in NPAs in its home loan portfolio post the merger of the associate banks, expects the NPA levels to dip with improvements in underwriting and recoveries.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CZADc9

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Economy on track: HDFC Bank advances rise 5%, deposits grow 17% in March

he bank said it has purchased loans aggregating Rs 19.24 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation, during the quarter ended March this year.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VpVj47

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Bank of India to sell 25.05% stake in life insurance joint venture

Established in February 2009, Star Union Dai-ichi Life’s (SUD Life) premium income stood at Rs 1,211 crore, while its profit after tax stood at Rs 55 crore during April-December 2018-19.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VrpE22

Read more »

SBI is geared to meet any additional demand for housing loans, says Parveen Kumar Gupta, MD-Retail & Digital Banking

The bank, which witnessed a spike in NPAs in its home loan portfolio post the merger of the associate banks, expects the NPA levels to dip with improvements in underwriting and recoveries.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CZADc9

Read more »

Economy on track: HDFC Bank advances rise 5%, deposits grow 17% in March

he bank said it has purchased loans aggregating Rs 19.24 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation, during the quarter ended March this year.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VpVj47

Read more »

Bank of India to sell 25.05% stake in life insurance joint venture

Established in February 2009, Star Union Dai-ichi Life’s (SUD Life) premium income stood at Rs 1,211 crore, while its profit after tax stood at Rs 55 crore during April-December 2018-19.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VrpE22

Read more »

SBI is geared to meet any additional demand for housing loans, says Parveen Kumar Gupta, MD-Retail & Digital Banking

The bank, which witnessed a spike in NPAs in its home loan portfolio post the merger of the associate banks, expects the NPA levels to dip with improvements in underwriting and recoveries.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CZADc9

Read more »

Economy on track: HDFC Bank advances rise 5%, deposits grow 17% in March

he bank said it has purchased loans aggregating Rs 19.24 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation, during the quarter ended March this year.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VpVj47

Read more »

Bank of India to sell 25.05% stake in life insurance joint venture

Established in February 2009, Star Union Dai-ichi Life’s (SUD Life) premium income stood at Rs 1,211 crore, while its profit after tax stood at Rs 55 crore during April-December 2018-19.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VrpE22

Read more »

SBI is geared to meet any additional demand for housing loans, says Parveen Kumar Gupta, MD-Retail & Digital Banking

The bank, which witnessed a spike in NPAs in its home loan portfolio post the merger of the associate banks, expects the NPA levels to dip with improvements in underwriting and recoveries.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CZADc9

Read more »

Economy on track: HDFC Bank advances rise 5%, deposits grow 17% in March

he bank said it has purchased loans aggregating Rs 19.24 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation, during the quarter ended March this year.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VpVj47

Read more »

Bank of India to sell 25.05% stake in life insurance joint venture

Established in February 2009, Star Union Dai-ichi Life’s (SUD Life) premium income stood at Rs 1,211 crore, while its profit after tax stood at Rs 55 crore during April-December 2018-19.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VrpE22

Read more »

SBI is geared to meet any additional demand for housing loans, says Parveen Kumar Gupta, MD-Retail & Digital Banking

The bank, which witnessed a spike in NPAs in its home loan portfolio post the merger of the associate banks, expects the NPA levels to dip with improvements in underwriting and recoveries.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2CZADc9

Read more »

Economy on track: HDFC Bank advances rise 5%, deposits grow 17% in March

he bank said it has purchased loans aggregating Rs 19.24 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation, during the quarter ended March this year.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2VpVj47

Read more »

Lakshmi Vilas Bank board clears merger with Indiabulls Housing Finance; key things to know

Board of Lakshmi Vilas Bank on Friday approved merger with Indiabulls Housing Finance in a through a share swap deal, both companies said in separate regulatory filings.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Kaiy13

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Lakshmi Vilas Bank board clears merger with Indiabulls Housing Finance; key things to know

Board of Lakshmi Vilas Bank on Friday approved merger with Indiabulls Housing Finance in a through a share swap deal, both companies said in separate regulatory filings.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Kaiy13

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Lakshmi Vilas Bank board clears merger with Indiabulls Housing Finance; key things to know

Board of Lakshmi Vilas Bank on Friday approved merger with Indiabulls Housing Finance in a through a share swap deal, both companies said in separate regulatory filings.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Kaiy13

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David Malpass named new World Bank President

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2FS0fYU

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Lakshmi Vilas Bank board clears merger with Indiabulls Housing Finance; key things to know

Board of Lakshmi Vilas Bank on Friday approved merger with Indiabulls Housing Finance in a through a share swap deal, both companies said in separate regulatory filings.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Kaiy13

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Lakshmi Vilas Bank to merge with Indiabulls Housing Finance

Move will give LVB a pan-India presence while IHB gets long-sought entry into banking

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

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BharatPe raises $15 m in Series A round

BharatPe, a fintech start-up that provides merchants with interoperable UPI QR codes, has raised $15.5 million in Series A funding. Insight Partners

from Business Line - Money & Banking http://bit.ly/2G1R7SG

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RBI must allow deposit-taking NBFCs to apply for forex dealership licence: FIDC

Finance Industry Development Council (FIDC) wants the Reserve Bank of India to allow deposit-taking NBFCs with an asset size of more than ₹500 crore

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

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VFS ‘confident’ of growing loan book to ₹1,600 cr by FY20

Farm-loan waivers, IL&FS crisis hit NBFC

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

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Lakshmi Vilas Bank board clears merger with Indiabulls Housing Finance; key things to know

Board of Lakshmi Vilas Bank on Friday approved merger with Indiabulls Housing Finance in a through a share swap deal, both companies said in separate regulatory filings.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Kaiy13

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‘PSB recapitalisation and resolution of stressed assets under IBC to improve bank credit offtake’

Recapitalisation of public sector banks (PSBs), the ongoing improvement in their financials, and resolution of stressed assets under the Insolvency an

from Business Line - Money & Banking http://bit.ly/2uMGk8H

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What ails transmission of RBI’s monetary policy?

Lending rate structure, tight liquidity, and hardening bond yields impeding pass-through of the RBI’s policy action

from Business Line - Money & Banking http://bit.ly/2U1GJOA

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Merger swap favours LVB investors; a pricey deal for Indiabulls Housing

Whether the merger passes muster with RBI will be critical

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

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Govt enrolls 28-lakh beneficiaries under PMSYM pension scheme

The government on Friday said that it has enrolled more than 28 lakh beneficiaries in Pradhan Mantri Shram Yogi Mandhan (PMSYM) Pension Yojana, throug

from Business Line - Money & Banking http://bit.ly/2U1FT4l

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Vijaya bank merger 'dictatorial' decision, says ex-director Subbayya Shetty

The merger of the banks was hurriedly carried out only to protect fraudulent businessmen, Subbayya Shetty told reporters here.

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

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Lakshmi Vilas Bank board clears merger with Indiabulls Housing Finance; key things to know

Board of Lakshmi Vilas Bank on Friday approved merger with Indiabulls Housing Finance in a through a share swap deal, both companies said in separate regulatory filings.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Kaiy13

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Retail securitisation volume doubles to Rs 1.9 lakh cr in FY19

Problems faced by the non-bank lenders and clarity on GST applicability resulted in retail securitisation doubling to Rs 1.90 lakh crore in 2018-19,

from Business Line - Money & Banking http://bit.ly/2CX15TG

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Bank of Maharashtra lowers lending rates by a nominal 5 bps

It can be noted that after the February rate cut, BoM was the first lender to announce a nominal 5 bps reduction in the pricing of its six months products.

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

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Bank of Maharashtra lowers lending rates by a nominal 5 bps

A day after the Reserve Bank reduced the benchmark repo rate by 25 basis points for the second consecutive time, state-run Bank of Maharashtra on Fri

from Business Line - Money & Banking http://bit.ly/2K9Z3FT

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PTC India finance partners with US-India clean energy finance initiative

PTC India Financial services (PFS), an infrastructure NBFC, has partnered with the US-India Clean Energy Finance (USICEF) initiative.Pawan Singh, Mana

from Business Line - Money & Banking http://bit.ly/2Ui096N

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Maersk Trade Finance sets target to disburse $200 m to SMEs in 2019

LN RevathyMaersk Trade Finance, part of AP Moller-Maersk, the global leader in shipping services, is targeting a loan disbursement of $200 million for

from Business Line - Money & Banking http://bit.ly/2G1Z8ah

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UPI transactions see695% growth in FY19

Number of transactions crosses 500 cr mark

from Business Line - Money & Banking http://bit.ly/2IgmdI6

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Govt to study the impact of SC ruling on bad loans cases

The secretary stressed that the prerogative of the banks to choose between SARFAESI Act, IBC or any other resolution tool remains with them.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2K6fH9f

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Muthoot Homefin to raise Rs 300 cr via debentures

Housing finance company Muthoot Homefin on Friday said it will raise up to Rs 300 crore through issue of debentures. The base size of the issue is R

from Business Line - Money & Banking http://bit.ly/2K8nN1e

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Bank of India to sell 25.05% stake in life insurance JV for Rs 1,106 cr

Bank of India on Friday said it will sell 25.05 per cent stake in its insurance JV Star Union Dai-ichi Life Insurance Co for at least Rs 1,106 crore.

from Business Line - Money & Banking http://bit.ly/2WNA3pm

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RBI to put out new rules to deal with stressed assets

It also required banks to finalise a resolution plan for such defaults of over `2,000 crore within 180 days, and if they failed in doing so, the account would be subject to the Insolvency and Bankruptcy Code process.

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

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Why RBI may not junk one-day default rule yet

While we are on the same page as the central bank on growth projection for FY20, we expect CPI inflation to be somewhat higher at 3.8% on account of lower horticulture production and reversal of the extremely soft food inflation regime.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2K6MJG9

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Bad loan battle: RBI to issue new directive after SC ruling

“We remain committed not only to maintain but also to speed up the resolution of stressed assets in the banking sector,” Das said in the first official comment by the central bank after the SC verdict.

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

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RBI to nudge banks to pass on rate cut to borrowers

No bank had lowered marginal cost-based lending rate (MCLR) after the previous repo rate cut in February before RBI brass persuaded banks to do so.

from Banking/Finance-Industry-Economic Times http://bit.ly/2IiR32q

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Ex-IL&FS execuctive Hari Sankaran sent to judicial custody

Sankaran, who was arrested on Monday, will be now lodged in a special cell in the Byculla jail.

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

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New customer-protection measures on cards for electronic payments

The also said that it is in the process of benchmarking Indian payments systems and instruments against global standards.

from Banking/Finance-Industry-Economic Times http://bit.ly/2OOGci5

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RBI to put out new rules to deal with stressed assets

It also required banks to finalise a resolution plan for such defaults of over `2,000 crore within 180 days, and if they failed in doing so, the account would be subject to the Insolvency and Bankruptcy Code process.

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

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Why RBI may not junk one-day default rule yet

While we are on the same page as the central bank on growth projection for FY20, we expect CPI inflation to be somewhat higher at 3.8% on account of lower horticulture production and reversal of the extremely soft food inflation regime.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2K6MJG9

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Axis Bank asks more than 50 mid-level managers to leave

Replying to a query, Axis Bank said in a mail that changes are afoot at the bank to raise ‘productivity and efficiency’.

from Banking/Finance-Industry-Economic Times http://bit.ly/2K7gsij

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Marriage on mind, Lakshmi Vilas Bank and Indiabulls Housing boards meet

The two financial institutions, which have been discussing a possible merger for the past few months, are now understood to have reached a stage where a proposal can be formalised for seeking regulatory nod.

from Banking/Finance-Industry-Economic Times http://bit.ly/2UBwo06

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RBI to put out new rules to deal with stressed assets

It also required banks to finalise a resolution plan for such defaults of over `2,000 crore within 180 days, and if they failed in doing so, the account would be subject to the Insolvency and Bankruptcy Code process.

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

Read more »

Why RBI may not junk one-day default rule yet

While we are on the same page as the central bank on growth projection for FY20, we expect CPI inflation to be somewhat higher at 3.8% on account of lower horticulture production and reversal of the extremely soft food inflation regime.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2K6MJG9

Read more »

RBI to put out new rules to deal with stressed assets

It also required banks to finalise a resolution plan for such defaults of over `2,000 crore within 180 days, and if they failed in doing so, the account would be subject to the Insolvency and Bankruptcy Code process.

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

Read more »

Why RBI may not junk one-day default rule yet

While we are on the same page as the central bank on growth projection for FY20, we expect CPI inflation to be somewhat higher at 3.8% on account of lower horticulture production and reversal of the extremely soft food inflation regime.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2K6MJG9

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Apex court ruling on stressed assets: Government and RBI can fix issue, says CEA

‘Don’t think the IBC needs to be changed’

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

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At ₹25,000 crore , NCD holders have the second highest exposure to IL&FS after PSBs

It’s not just public sector banks (PSBs) and NBFCs that are worried about their exposure to IL&FS. Investors holding non-convertible debentures (N

from Business Line - Money & Banking https://ift.tt/2D8vXAP

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Bankers hail rate cut, but growth and inflation concerns remain

RBI likely to maintain status quo in its next MPC meet

from Business Line - Money & Banking https://ift.tt/2Uu3KxV

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RBI to set up panel on development of housing finance securitisation market

The Reserve Bank of India, on Thursday, announced that it will soon set up a committee to assess the state of housing finance securitisation market in

from Business Line - Money & Banking https://ift.tt/2K6Sd3Q

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Certain NBFCs to get licence for forex dealership

In a move that will make it easy to purchase foreign exchange for overseas travel, the Reserve Bank of India, on Thursday, announced that certain no

from Business Line - Money & Banking https://ift.tt/2Uu3LBZ

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Framework coming soon for timely resolution of customer grievances

In a move that will benefit consumers, the RBI plans to put in place norms for standardised timelines for resolving customer complaints and compensati

from Business Line - Money & Banking https://ift.tt/2K5IL0z

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Despite second RBI action, bankers non-committal to cut rates

For the second consecutive time, the monetary policy committee voted to cut the benchmark rates by 25 bps to 6 percent Thursday.

from Banking/Finance-Industry-Economic Times https://ift.tt/2VqK7V2

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After Supreme Court ruling, RBI likelyto issue new rules for debt resolution

With the Supreme Court quashing the RBI’s February 12 circular on revised framework for resolution of stressed assets, the central bank, on Thursday,

from Business Line - Money & Banking https://ift.tt/2uMFA3r

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Banks get a breather on external benchmark of floating rate loans

The RBI has given banks a breather on external benchmarking of new floating rate loans. The central bank said it will hold further consultations with

from Business Line - Money & Banking https://ift.tt/2YY1ZJ0

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RBI tweaks LCR norms to boost liquidity

In a bid to further improve the cash position of banks, the RBI on Thursday provided additional 2 per cent liquidity window to the lenders by tweaki

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

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Govt and RBI will work together for smooth implementation of SC ruling: CEA Subramanian

The Government and the Reserve Bank of India (RBI) will work together to ensure smooth implementation of the Supreme Court’s recent ruling on the RBI

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

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Banks, others may lose over Rs 90,000 crore as Videocon sinks

The two main group companies - Videocon Industries Ltd & Videocon Telecommunication Ltd. - owe Rs.59,451.87 crore and Rs.26,673.81 crore, respectively.

from Banking/Finance-Industry-Economic Times https://ift.tt/2ON53mp

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MORE announces second close to fourth real estate fund

The money has majorly been raised from HNIs and family offices

from Business Line - Money & Banking https://ift.tt/2TVH2KX

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IL&FS Financial Services gross NPA at 90%: Uday Kotak

The flagship lending unit of Infrastructure Leasing & Financial Services Ltd (IL&FS) has seen 90 per cent of its loans go sour, a company exe

from Business Line - Money & Banking https://ift.tt/2Uvy1wy

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RBI lowers GDP growth forecast to 7.2% for 2019-20

The RBI Thursday lowered the GDP growth forecast for the current fiscal to 7.2 per cent from the earlier estimate of 7.4 per cent amid probability of

from Business Line - Money & Banking https://ift.tt/2IcK3UX

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RBI to come up with revised circularto replace quashed Feb 12 circular

With the Supreme Court quashing Reserve Bank of India's February 12 circular on the revised framework for resolution of stressed assets, the central b

from Business Line - Money & Banking https://ift.tt/2WJ8U6Q

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RBI to issue revised NPA circular soon, says Das

Governor Shaktikanta Das on Thursday said the Reserve Bank will shortly come out with a revised circular for bad loan resolution, after its February

from Business Line - Money & Banking https://ift.tt/2YPl8wo

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RBI will come up with revised circular to deal with resolution of stressed assets: Shaktikanta Das

RBI will come up with revised circular to deal with resolution of stressed assets: Shaktikanta Das

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

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Nearly all assets owned by IL&FS’s lending arm have turned bad

90% of the Rs 18,800-crore assets of I-Fin, the firm's lending arm, are now in the NPA list.

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

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Overall credit growth not broad based, to MSMEs it’s muted: Shaktikanta Das

Even though the headline credit demand is growing at a healthy 14 per cent, Reserve Bank governor Shaktikanta Das on Thursday said it is not broad b

from Business Line - Money & Banking https://ift.tt/2WKqo2y

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RBI cuts inflation forecast to 2.9-3% for H1 FY20

The Reserve Bank onWednesday cut the retail inflation forecast to 2.9-3 per cent for the first half of current fiscal, mainly due to lower food and f

from Business Line - Money & Banking https://ift.tt/2ONMyy9

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BharatPe raises $15.5 million in Series A round

Insight Partners, Sequoia, and Beenext are investors

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

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RBI wants to disclose bank’s annual inspection reports on case to case basis

Last year in November, the CIC too had issued a show-cause notice to Urjit Patel, then governor of the RBI, for not honouring a judgment of the apex court on disclosure of wilful defaulters’ list who had not paid loans of `50 crore and more.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2WHXIY3

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Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

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RBI cuts repo rate by 25 bps

The Reserve Bank of India on Thursday cut the repo rate by another 25 basis points to 6 per cent.The move will cheer markets and investors and is the

from Business Line - Money & Banking https://ift.tt/2uHes5V

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RBI wants to disclose bank’s annual inspection reports on case to case basis

Last year in November, the CIC too had issued a show-cause notice to Urjit Patel, then governor of the RBI, for not honouring a judgment of the apex court on disclosure of wilful defaulters’ list who had not paid loans of `50 crore and more.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2WHXIY3

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Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

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Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

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Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

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Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

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Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

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Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

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Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

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Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

Read more »

Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

Read more »

Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

Read more »

Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

Read more »

Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

Read more »

Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

Read more »

Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

Read more »

Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

Read more »

Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

Read more »

Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

Read more »

Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

Read more »

Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

Read more »

Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

Read more »

Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

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SC ruling on RBI’s February 12 circular will not impact IBC: Arun Jaitley

RBI will come out with fresh set of ideas for checks and balances, says Finance Minister

from Business Line - Money & Banking https://ift.tt/2UrLJ3h

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Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

Paytm does not intend to open many branches. "If we open branches further it will be in single digit, nationally in the next two or three years. We will never get it to the double-digit," Satish Gupta told Financial Express Online.

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

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SC judgment may slow down pace of NPA reduction: Crisil

Crisil elaborated that stressed power assets in the private sector will get the biggest respite from the apex court judgment, as most of them were on the verge of being referred to the NCLT

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

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Manappuram infuses ₹264 cr in Asirvad

Manappuram Finance, on Wednesday, announced that it has infused ₹264 crore in its microfinance arm, Asirvad Microfinance, through a rights issue. Aft

from Business Line - Money & Banking https://ift.tt/2uG1OE8

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RBI reduced to a toothless regulator with no power over cronyism

You don’t adopt a modern insolvency law in the expectation of damaging the credibility of your central bank. But that’s just what has happened in Indi

from Business Line - Money & Banking https://ift.tt/2WLew0b

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Health cover policyholders may soon be able to receive claim amount in instalments

You may soon be able to opt for receiving personal accident and benefit-based health cover policy claims in instalments. In a first-of-its-kind propo

from Business Line - Money & Banking https://ift.tt/2I9Gn6f

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SBI sets operating profit target of ₹70,000 crore for FY20

The bank had posted a lower operating profit of ₹38,503 cr in the first nine months of FY19

from Business Line - Money & Banking https://ift.tt/2HVtb5O

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No creditor will be compromised in debt resolution process, says IL&FS board

Even as recovery ability of the loans is posing challenges, the company would take care of creditors by resolving assets within India, the board added.

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

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Magma Fincorp to raise Rs 1,000 crore through NCDs this fiscal

The NCDs offered through the first tranche would be listed on BSE and NSE

from Business Line - Money & Banking https://ift.tt/2CPub7u

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Analysts divided over Supreme Court order on NPA resolution

Nomura said it does not see a surge in dud assets because of the apex court decision, but seemed to agree with its counterpart, saying resolutions will be impacted.

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

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Expect to come out of PCA in second quarter: UBI MD

"We should be coming out of PCA by the second quarter of 2019-20. Things are happening the way we have strategised," Ashok Kr Pradhan, MD and CEO of UBI told .

from Banking/Finance-Industry-Economic Times https://ift.tt/2uIJ3zT

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In absolute compliance with National Housing Bank directions on home loans: PNB Housing Finance

The company has been making necessary modifications from time to time in its policy on home loan disbursements linked to the stage of construction of project, it said in a regulatory filing.

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

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Paytm Payments Bank to offer risk-free insurance, mutual fund by June: MD

Paytm Payments Bank is planning to launch risk-free insurance and mutual fund products by June this year, the company’s MD and CEO Satish Kumar Gupt

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

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Shriram City Union Finance to raise upto ₹ 750 cr via bonds

Deposit-taking non-banking finance company (NBFC) Shriram City Union Finance on Wednesday said it plans to raise up to ₹ 750 crore through non-conver

from Business Line - Money & Banking https://ift.tt/2TSFr8v

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Indian realty private equity inflows $53 billion since 2008: Report

From 2014 to 2018, institutional investors invested in excess of $10 billion or Rs 7,000 crore in office assets.

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

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View: India's crony capitalism claims another victim

SC verdict is a blow to RBI, which has been trying to tackle one of the world’s worst bad debt problems.

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

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Supreme Court quashes stringent RBI circular against defaulters

In a big setback to efforts for recovery of bad debts of companies owing Rs 2,000 crore or more to banks, the Supreme Court on Tuesday quashed the RBI’s February 12, 2018, circular, which directed banks to move against defaulters under the Insolvency and Banking Code (IBC) on their failure to pay up within 180 days from March 1, 2018.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2TNxL7H

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Suryoday Small Finance Bank raises ₹248 cr through private placement

Suryoday Small Finance Bank, a scheduled commercial bank, has raised ₹248 crore in equity funding through private placement, which the company intends

from Business Line - Money & Banking https://ift.tt/2YHtO85

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Lenders still have the power to take corporates to NCLT

Of this, Rs 2 lakh crore was across 34 borrowers in the power sector.

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

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What SC verdict means for banks, companies and RBI

No impact related to accounts mentioned in the first and second RBI lists.

from Banking/Finance-Industry-Economic Times https://ift.tt/2FKX2KB

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Banks can now refer defaulters to NCLT on case by case basis: Bankers

Restructuring Scheme (CDR), Scheme for Sustainable Structuring of Stressed Assets (S4A), and Joint Lenders' Forum (JLF).

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2WJ7BEK

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Former IL&FS vice chairman Hari Sankaran pushed for Rs 175-crore loan to Siva firm: SFIO

The SFIO said Sankaran pushed for the loan, fully aware that the transaction would harm the company’s interests.

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

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Axis is getting a makeover under its new CEO Amitabh Chaudhry & investors are happy

Such investor trust in one’s leadership is a dream start, but it can be as much a burden when it comes to meeting expectations.

from Banking/Finance-Industry-Economic Times https://ift.tt/2CS61ZN

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PSU Banks got Rs 1.95 lakh crore capital infusion in 18 months; govt completes massive recapitalisation

Indian PSU banks have got a massive Rs 1.95 lakh crore in capital funding from the government in just the last one-and-a-half years, as the Narendra Modi-led NDA government completed its part of a proposed Rs 2.5 lakh crore recapitalisation plan during March end.

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

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PSU Banks got Rs 1.95 lakh crore capital infusion in 18 months; govt completes massive recapitalisation

Indian PSU banks have got a massive Rs 1.95 lakh crore in capital funding from the government in just the last one-and-a-half years, as the Narendra Modi-led NDA government completed its part of a proposed Rs 2.5 lakh crore recapitalisation plan during March end.

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

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PSU Banks got Rs 1.95 lakh crore capital infusion in 18 months; govt completes massive recapitalisation

Indian PSU banks have got a massive Rs 1.95 lakh crore in capital funding from the government in just the last one-and-a-half years, as the Narendra Modi-led NDA government completed its part of a proposed Rs 2.5 lakh crore recapitalisation plan during March end.

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

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Rating agencies see further delay in resolution process of stressed assets

But genuine borrowers now have more time for resolution

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

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Will banks act proactively to deal with stressed assets or kick the can down the road?

Radhika MerwinThe sword of Damocles hanging over banks’ heads has been done away with, thanks to the Supreme Court’s ruling that has struck down the R

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

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PSU Banks got Rs 1.95 lakh crore capital infusion in 18 months; govt completes massive recapitalisation

Indian PSU banks have got a massive Rs 1.95 lakh crore in capital funding from the government in just the last one-and-a-half years, as the Narendra Modi-led NDA government completed its part of a proposed Rs 2.5 lakh crore recapitalisation plan during March end.

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

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Manappuram Finance signs MoU with Autolite India

Under this MoU, Manappuram Finance will provide loans to customers and inventory funding for dealerships

from Business Line - Money & Banking https://ift.tt/2FRYlJ6

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Karnataka Bank in pact with Bharti AXA

Karnataka Bank has entered into a memorandum of understanding with Bharti AXA Life Insurance Company to distribute the latter’s life insurance produ

from Business Line - Money & Banking https://ift.tt/2TQGwh2

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Axis AMC raises ₹400 cr via realty fund

Investors in the fund include the AMC sponsor, domestic institutions, and high net worth investors

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

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Banks can now refer defaulters to NCLT on case by case basis: Bankers

According to Tyagi, the resolution can be done through any of the mechanism which existed prior to February 12, 2018 circular.

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

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AUM of retail NBFCs saw ‘sharp’ slow down in growth in Q3 FY19

Growth slows to 3.3 per cent, which is the slowest in the last 10 quarters, says ICRA

from Business Line - Money & Banking https://ift.tt/2Ud90GQ

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IndoStar completes acquisition of IIFL’s CV-financing biz

With this acquisition, the company said the mix between retail and wholesale stands at 62:38

from Business Line - Money & Banking https://ift.tt/2FJL8Re

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Sensex closes above 39,000-mark for first time; Nifty above 11,700

On the BSE index, Tata Motors, Bharti Airtel, TCS, Bajaj Finance, PowerGrid and IndusInd Bank were among the major gainers with their stocks rising as much as 8.36 per cent. 18 out of 30 stocks on the 30-share barometer finished in green. On NSE, sub-indices Nifty Metal and PSU Bank were among top performers, up as much as 2.32 per cent.

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

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Supreme Court order on stressed assets may delay debt resolution process: ICRA

The Supreme Court's decision to scrap the Reserve Bank of India's February 12 circular will delay the ongoing debt resolution process, according to IC

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

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RBI to buy $5bn from banks to infuse liquidity

Under this newly launched liquidity infusion mechanism, banks sell dollars to the RBI and get rupee funds from it with the guarantee that the same bank will take back the dollars after three years, which is called the closure date of the swap process. So, in effect, banks get rupee funds at a time when they are short on liquidity, while the dollars that the RBI buys from the banks add up to the country’s foreign exchange (forex) reserves.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Uoiaj7

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3-bank merger: BoB will be net job creator, says CEO PS Jayakumar

In an interview with TOI, BoB MD & CEO PS Jayakumar speaks of what customers, employees and investors can expect.

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

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In one fell swoop, SC punctures RBI's efforts to tackle bad loans

Since beginning, the RBI circular on bad loans created a huge amount of hue and cry in various quarters.

from Banking/Finance-Industry-Economic Times https://ift.tt/2WCN84z

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SC holds ultra vires RBI’s February 12 circular mandating insolvency proceedings

The judgment is a relief for stressed industries, including those in the power and sugar sectors

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

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Supreme Court rejects RBI's February 12 circular on debt resolution

As per the RBI circular, banks had to classify a loan account as stressed if there was even a day of default and bankers have to mandatorily refer all accounts with over Rs 2,000 crore loans to the National Company Law Tribunal (NCLT) or the bankruptcy court if they failed to resolve the problem within 180 days of default.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Uwq5v7

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Asian private equity manager Pacific Alliance Group to enter India

PAG, which manages assets amounting to well over $20 billion, is set to name Nikhil Srivastava from KKR as the head of private equity operations in India.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Vdx74P

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Supreme Court strikes down RBI's February 12 circular on defaulting firms, calls it illegal

The circular asked banks to either resolve or file for insolvency taking away their discretion to not to act on bad loans.

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

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RBI to conduct Dollar/Rupee buy/sell swap for $5 bn on April 23

Following enthusiastic response to its US Dollar/Indian Rupee Buy/Sell swap auction of 3 years tenor for $ 5 billion on March 26, the Reserve Bank of

from Business Line - Money & Banking https://ift.tt/2HVO80q

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Icici Bank cuts lending rates by 5 bps across tenors

The bank had cut rates by five bps for the three-month, six-month and one-year tenors as on March 1.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JWO3LN

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Bank of Baroda aspires to have market share of 10% after mega merger

The government recently announced it would infuse as much as Rs 5,042 crore through preferential allotment of shares though Jayakumar suggests the entity sees no immediate requirement for a cash infusion.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JXB5xo

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Cooperative Banks’ woes: Maharashtra govt to pay Rs 100 crore to MSC Bank to settle loans

In 2011, the Reserve Bank of India suspended the board of MSC Bank after the bank’s net worth turned negative.

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

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3-bank merger: BoB will be net job creator, says CEO PS Jayakumar

The complete integration of Dena Bank and Vijaya Bank with Bank of Baroda (BoB) is expected to take nearly 18 months. But customers will reap the benefits much earlier. BoB will provide cash deposit and withdrawal facility in all branches by May. In an interview with TOI, BoB MD & CEO PS Jayakumar speaks of what customers, employees and investors can expect.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2HRt4bh

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Icici Bank cuts lending rates by 5 bps across tenors

The bank had cut rates by five bps for the three-month, six-month and one-year tenors as on March 1.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JWO3LN

Read more »

Bank of Baroda aspires to have market share of 10% after mega merger

The government recently announced it would infuse as much as Rs 5,042 crore through preferential allotment of shares though Jayakumar suggests the entity sees no immediate requirement for a cash infusion.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JXB5xo

Read more »

Cooperative Banks’ woes: Maharashtra govt to pay Rs 100 crore to MSC Bank to settle loans

In 2011, the Reserve Bank of India suspended the board of MSC Bank after the bank’s net worth turned negative.

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

Read more »

Icici Bank cuts lending rates by 5 bps across tenors

The bank had cut rates by five bps for the three-month, six-month and one-year tenors as on March 1.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JWO3LN

Read more »

Bank of Baroda aspires to have market share of 10% after mega merger

The government recently announced it would infuse as much as Rs 5,042 crore through preferential allotment of shares though Jayakumar suggests the entity sees no immediate requirement for a cash infusion.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JXB5xo

Read more »

Cooperative Banks’ woes: Maharashtra govt to pay Rs 100 crore to MSC Bank to settle loans

In 2011, the Reserve Bank of India suspended the board of MSC Bank after the bank’s net worth turned negative.

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

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Jet Airways misses $ 109 million loan payment to HSBC

Troubled Jet Airways missed a $109 million loan repayment due to HSBC Bank this week, people with knowledge of the matter said. The money was due on March 28, and was part of a two-tranche facility totaling $140 million that the company took from HSBC in 2014, according to the people, who asked not to be identified because the details are private.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2K7jRxo

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Icici Bank cuts lending rates by 5 bps across tenors

The bank had cut rates by five bps for the three-month, six-month and one-year tenors as on March 1.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JWO3LN

Read more »

Bank of Baroda aspires to have market share of 10% after mega merger

The government recently announced it would infuse as much as Rs 5,042 crore through preferential allotment of shares though Jayakumar suggests the entity sees no immediate requirement for a cash infusion.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JXB5xo

Read more »

Cooperative Banks’ woes: Maharashtra govt to pay Rs 100 crore to MSC Bank to settle loans

In 2011, the Reserve Bank of India suspended the board of MSC Bank after the bank’s net worth turned negative.

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

Read more »

Icici Bank cuts lending rates by 5 bps across tenors

The bank had cut rates by five bps for the three-month, six-month and one-year tenors as on March 1.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JWO3LN

Read more »

Bank of Baroda aspires to have market share of 10% after mega merger

The government recently announced it would infuse as much as Rs 5,042 crore through preferential allotment of shares though Jayakumar suggests the entity sees no immediate requirement for a cash infusion.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JXB5xo

Read more »

Cooperative Banks’ woes: Maharashtra govt to pay Rs 100 crore to MSC Bank to settle loans

In 2011, the Reserve Bank of India suspended the board of MSC Bank after the bank’s net worth turned negative.

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

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Day 1: It's business as usual at Bank of Baroda

Lalit Tyagi, DGM and regional head, Bank of Baroda, Bengaluru told media on Monday that the first three-way consolidation of banks in India will see the combined bank having 9,500 plus branches, network of 13,400 plus ATMs and 85,000 plus employees serving 120 million customers with a business mix of Rs 15 lakh crore.

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

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Despite weaker Dena,BoB has minimal impact on NPAs post-merger

Ahead of the merger, government had infused Rs 5,042 crore capital into the bank, and he said he will not require any immediate capital.

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SFIO arrests ex-chairman of IL&FS Hari Sankaran on grounds of abusing his power

After the arrest, he has been granted SFIO custody till 04.02.19. He will be produced tomorrow before a special court in Mumbai.

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SFIO arrests former IL&FS chief Hari Sankaran

The Serious Fraud Investigation Office (SFIO) on Monday arrested former IL&FS Chairman Hari Sankaran in connection with the ongoing probe into the

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Karnataka Bank targets ₹1.44 lakh cr biz in FY20

The bank achieved a business turnover of ₹1.23 lakh crore, registering a growth rate of 12 per cent on year-on-year basis

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CSR author award for banker

US Sudheesh Babu, Senior Manager (Public Relations), Vijaya Bank, Kochi region, has won the CSR Author Awards 2019 at the 5th CSR leadership summit he

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Third-party motor cover: New rates likely to come into effect from June

Third-party insurance policies are mandatory by law and account for nearly 40 per cent of the general insurance market

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Vipin Anand takes over as MD of LIC

Vipin Anand has taken charge as Managing Director of LIC of India. Prior to this, he was in charge of LIC’s Western Zone, headquartered at Mumbai. Dur

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Amalgamation exercise ‘has been smooth so far’: BoB chief

With Vijaya Bank and Dena Bank getting merged with Bank of Baroda with effect from April 1, 2019, the latter intends to harness the ‘power of 3’ so t

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After SBI, Bank of Baroda is now India’s second largest PSU bank

Bank of Baroda (BoB) Monday became the second largest state-owned lender after merging Dena Bank and Vijaya Bank into itself as part of the first three-way amalgamation.

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RBI makes NPA divergence rule easier for banks

The central bank has on Monday appears to have diluted the rule a bit without compromising the intent.banking

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After SBI, Bank of Baroda is now India’s second largest PSU bank

Bank of Baroda (BoB) Monday became the second largest state-owned lender after merging Dena Bank and Vijaya Bank into itself as part of the first three-way amalgamation.

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"Vijaya Bank,Dena Bank merger with BoB will benefit customers & employees"

Dena Bank, named after its founder Devkaran Nanjee, came into being in 1938 in Mumbai while Vijaya Bank was founded in Karnataka's Dakshina Kannada district in 1931.

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RBI reshuffles lead bank responsibilities post banks merger

Following the merger, the RBI has decided to assign the lead bank responsibility of districts hitherto held by Vijaya Bank and Dena Bank, the central bank said.

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After SBI, Bank of Baroda is now India’s second largest PSU bank

Bank of Baroda (BoB) Monday became the second largest state-owned lender after merging Dena Bank and Vijaya Bank into itself as part of the first three-way amalgamation.

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

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After SBI, Bank of Baroda is now India’s second largest PSU bank

Bank of Baroda (BoB) Monday became the second largest state-owned lender after merging Dena Bank and Vijaya Bank into itself as part of the first three-way amalgamation.

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

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After SBI, Bank of Baroda is now India’s second largest PSU bank

Bank of Baroda (BoB) Monday became the second largest state-owned lender after merging Dena Bank and Vijaya Bank into itself as part of the first three-way amalgamation.

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New accounting standard for leases to improve quality of financial info: ICAI

Leasing is a well-known and long established form of obtaining finance

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After SBI, Bank of Baroda is now India’s second largest PSU bank

Bank of Baroda (BoB) Monday became the second largest state-owned lender after merging Dena Bank and Vijaya Bank into itself as part of the first three-way amalgamation.

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

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After SBI, Bank of Baroda is now India’s second largest PSU bank

Bank of Baroda (BoB) Monday became the second largest state-owned lender after merging Dena Bank and Vijaya Bank into itself as part of the first three-way amalgamation.

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

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What India's new banking behemoth means for banks & customers

The combined entity boasts of 120 million customers, 85,000 employees, over 9,500 branches and 13,400 ATMs.

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RBI vs Kotak: A fight that could change banks

The Kotak family owns over 30% stake in the bank, but RBI has certain rules that limit promoter holdings in the bank. The central bank had asked promoters to bring down their stake to under 20% by December 30, 2018, and to 15% by March 2020, and then under 10% later on in line with the guidelines for new bank licences

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Bombay HC adjourns hearing on Kotak Mahindra Bank vs RBI case to April 22

The Bombay High Court on Monday adjourned the hearing in the writ petition filed by Kotak Mahindra Bank on the issue of promoter shareholding norms by

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RBI to unveil this fiscal’s first bi-monthly policy decision on Thursday

The Reserve Bank of India (RBI) will unveil on Thursday its first bi-monthly monetary policy decision of this new fiscal. The RBI’s Monetary Policy C

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Bank of Baroda becomes second largest PSU bank after SBI

Bank of Baroda now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.

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Bank of Baroda becomes second largest PSU bank after SBI

Bank of Baroda (BoB) on Monday became the second largest state-owned lender after merging Dena Bank and Vijaya Bank into itself as part of the first

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UPI based P2P fund transfers may soon attract charges

Banks to charge customers after first 30 UPI transactions

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No change in motor third-party insurance premium rates: IRDAI

There will be no change in the premium rates for motor third-party liability insurance cover for the new financial year commencing from today.Yegnapr

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Is hiring in finance sector slowing down? Here’s what numbers show

But the addition to the headcount in 2019 could be less than 10%, says Randstad India MD and CEO Paul Dupuis, who points out the sector now faces several challenges.

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Sensex surges over 350 points to surpass 39,000-mark; Nifty above 11,700

On the Sensex chart, Vedanta, Tata Steel, Tata Motors, Mahindra and Mahindra and ICICI Bank led the rally. On NSE, all sub-indices were trading in green with Nifty Auto and Metal rising the most, up as much as 2.44 per cent.

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