10:09 PM
Blogger
8:09 PM
Blogger
2:02 PM
Blogger
"More than 1,200 new bank accounts were opened in the said branch without PAN (permanent account number)," the Central Board of Direct Taxes, which frames policy for the tax department, said in a statement.
1:09 PM
Blogger
1:02 PM
Blogger
At the end of September, 26,073 of these 84,000 clients were active with the loan outstanding at Rs 34 crore, which is 0.12 per cent of the September-end portfolio, the bank said, adding that it carries necessary provisions against the loans.
6:11 AM
Blogger
3:11 AM
Blogger
11:09 PM
Blogger
7:09 PM
Blogger
6:09 PM
Blogger
4:02 PM
Blogger
2:09 PM
Blogger
12:09 PM
Blogger
10:09 AM
Blogger
8:02 AM
Blogger
Bank credit rose 6.8% in October, compared with 5.1% in the same period a year ago, show the latest figures published by the Reserve Bank of India (RBI).
8:02 AM
Blogger
Companies including Adani Green Energy, JSW Hydro Energy, Axis Bank, Shriram Transport Finance, Power Finance Corporation and Greenko have collectively raised $7.24 billion this calendar year so far through ESG-compliant papers.
7:02 AM
Blogger
These alleged transactions to dress-up the books have damaged the micro-lending business built over the years and could even trigger political backlash, the group warned in at least two emails to IndusInd's Bank CEO Sumant Kathpalia, some independent directors and RBI officials between October 17 and 24.
6:11 AM
Blogger
9:02 PM
Blogger
The Emerging India Credit Opportunities Fund I will aim to raise up to Rs 1,000 crore. The fund will typically target senior, secured credit investments in India-focused mid-market businesses with expertise in niche segments.
7:02 AM
Blogger
The Indian banking industry is in a state of shock after Jaisalmer police arrested Chaudhuri following a complaint from a defaulter who lost his property during a resolution process. Chaudhuri was SBI chairman between April 7, 2011 and September 30, 2013.
6:11 AM
Blogger
4:11 AM
Blogger
4:11 AM
Blogger
12:02 AM
Blogger
Bank credit rose 6.8 per cent in October compared to 5.1 per cent in the same period a year ago, according to the latest figures released by the Reserve Bank of India on Wednesday. Outstanding credit amounted to Rs 110.5 lakh crore as of October 22, up Rs 7 lakh crore over a year.
11:09 PM
Blogger
9:09 PM
Blogger
8:02 PM
Blogger
Chairman Dinesh Khara expressed confidence that the bank will keep up the growth momentum in line with the economic growth which will also pull up the so far shrinking corporate loan book. India's largest lender is hoping to grow its loan book by 10% this fiscal end March 2022.
7:09 PM
Blogger
7:09 PM
Blogger
6:02 PM
Blogger
Khara described the arrest as "unfortunate" and expressed confidence that his predecessor will be released unconditionally without any charges.
5:09 PM
Blogger
4:02 PM
Blogger
The board of Spandana has accepted MD Padmaja G Reddy's resignation with immediate effect. It will be hiring an eminent industry veteran as its new MD & CEO, and construct a new management committee, it announced in a stock exchange filing late evening Tuesday.
3:09 PM
Blogger
3:09 PM
Blogger
3:09 PM
Blogger
3:09 PM
Blogger
2:02 PM
Blogger
Debt should be used sparingly for assets that appreciate or allow you to make more money. For example, a home loan or an education loan makes sense. Using debt for consumables or things that go down in value does not make sense.
1:09 PM
Blogger
1:02 PM
Blogger
Globally, the promotions this year are reflective of the firm’s strategic priorities, including investments in core businesses (investment banking division and global markets); growth strategies (asset management, consumer and engineering); and strategic locations (particularly Bengaluru, Salt Lake City and Dallas), the company said.
11:02 AM
Blogger
“I do not know the facts of the case but, based on what I have read, we really need to have a criminal justice system which protects bona fide actions by bankers for recovery of their money,” said veteran banker Uday Kotak, adding that there has to be a method by which that action has to be protected.
8:02 AM
Blogger
LRD is a globally popular credit instrument offered against rental receipts. This will likely ease the funds crunch in the real estate sector, hit hard by the pandemic. The bank will be setting up a separate team and infrastructure for this service line.
7:11 AM
Blogger
7:02 AM
Blogger
The Department of Personnel & Training circular, published about a couple of months ago and after the arrest of Bank of Maharashtra executives in another NPA case, had laid down standard operating procedures (SOPs) for action against government officials
5:11 AM
Blogger
12:02 AM
Blogger
The due process of law would have to be followed and there is very little the government can do, people privy to the development said.
12:02 AM
Blogger
Banks to include climate risk as part of risk management policy. IBA to coordinate for a common framework.
9:02 PM
Blogger
He also urged them to continue providing necessary support as the revival is still fragile.
9:02 PM
Blogger
The RBI-appointed committee also recommended that the minimum net owned funds requirement for asset reconstruction companies should be doubled to two billion rupees.
9:02 PM
Blogger
A bank is generally placed under the framework based on the audited annual financial results. However this does not bar RBI from imposing restrictions on any bank during the course of a year in extreme cases.
8:02 PM
Blogger
The mortgage lender said it would also be evaluating other alternatives to raise capital. Its capital adequacy ratio stood at 20.7% at the end of September, higher than regulatory stipulation of 15%. “The primary objective is to raise capital to support the growth of the company,” the company said.
8:02 PM
Blogger
Banks need to be agile and creative to stay ahead of the digital curve, but banks will have to align their products in compliance with existing laws and regulations.
7:09 PM
Blogger
6:09 PM
Blogger
5:02 PM
Blogger
Similar outreach programmes were held between October 2019 and March 2021 by banks and fulfilled all kinds of credit requirements of the RAM sector (Retail, Agriculture and MSME).
4:09 PM
Blogger
4:02 PM
Blogger
The company caters to India’s underserved MSMEs and rural individuals and is engaged in diversified segments such as rural tech, credit and wealth tech. It also operates on a hybrid model where it provides technology solutions across its different segments to its partners, who in turn handle the physical leg of customer servicing for a revenue share.
3:09 PM
Blogger
3:09 PM
Blogger
3:09 PM
Blogger
1:09 PM
Blogger
1:09 PM
Blogger
1:09 PM
Blogger
1:09 PM
Blogger
10:09 AM
Blogger
8:02 AM
Blogger
There was reportedly no notice or formal summons in a decade-old soured-loan case which has shaken the banking sector, stoking concerns the incident could delay decision making in multi-billion-dollar recovery initiatives of several lenders.
8:02 AM
Blogger
The existing custodian, Stock Holding Corporation of India, a large depository participant owned by public financial institutions, charges close to ₹19 crore for the job. Other institutions in the race for the custody mandate of the National Pension Scheme (NPS) have quoted fees of more than ₹1crore.
3:11 AM
Blogger
1:02 AM
Blogger
The 12th small finance bank begins operations with over Rs 1,100 crore of equity capital, over 2 lakh customers and an asset base of over Rs 2,400 crore which comes from the existing MSME and MFI credit business of the Centrum Group, Jaspal Bindra, group executive chairman and also the non-executive chairman of Unity Bank, told PTI on Monday.
12:02 AM
Blogger
He was Managing Director of State Bank of Mysore during the period from August, 2012 to April 2016, where he was seconded from State Bank of India (SBI).
8:02 PM
Blogger
Five of the seven state-owned banks that have announced their quarterly earnings so far have reported lower NIM for the September quarter. These banks, however, managed to report a rise in net profit largely on account of bad loan recovery and write-back of provision made in earlier quarters.
7:10 PM
Blogger
7:10 PM
Blogger
7:02 PM
Blogger
An insurance claim can be rejected if the policy has lapsed on account of non-payment of premium, said the Supreme Court which stressed that the terms of an insurance policy have to be strictly interpreted.
6:09 PM
Blogger
6:09 PM
Blogger
6:09 PM
Blogger
6:02 PM
Blogger
The State Bank of India has issued a clarification in the alleged loan scam case involving former Chairman Pratip Chaudhuri,says the asset in focus was sold with due process in March 2014, after Chaudhuri retired from the bank in Sep 2013. The company further says that there are factual inaccuracies in the complainant’s version submitted to the court and that the bank was never a party to it.
5:02 PM
Blogger
The non-bank lender’s total revenue from operations rose 4.1 per cent on-year to Rs 12, 215.95 crore in the quarter.
4:09 PM
Blogger
4:09 PM
Blogger
4:09 PM
Blogger
3:02 PM
Blogger
The Reserve Bank of India has now appointed Bandhan Bank as an Agency Bank of the RBI to conduct government business.
2:09 PM
Blogger
1:02 PM
Blogger
Businesses are expecting sales during Diwali will pick up to levels seen before the pandemic struck early last year.
12:09 PM
Blogger
12:02 PM
Blogger
Sources aware of the matter said the increased interest in tech IPOs and the headroom for further growth in its business as well as likely valuation after the share sale led to the founders reducing their OFS by 85-90% by value.
9:09 AM
Blogger
9:02 AM
Blogger
The fund has achieved the first close with investments from family offices, high networth individuals (HNIs) and non-resident Indians (NRIs). The fund will be investing primarily in mid-to-late stage technology-enabled companies with scaleable business models and a favourable risk-return profile. The sector-agnostic fund will be investing in companies catering to latent demands with multiyear growth potential and differentiated business model.
9:02 AM
Blogger
The non-binding offer equates to 20 paise on a rupee on total loans, including the interest component. ISMT had a term loan of Rs 3,359 crore, including interest, as of June 30, 2020, according to a disclosure made by the company to the Bombay Stock Exchange.
1:02 AM
Blogger
It asked the government to ensure that the existing tax structure is favourable to the taxpaying population, which constituted 8.5% of the total population and cross-subsidised 91.5% of the population.
1:02 AM
Blogger
The new guidelines - Staff Accountability Framework for NPA Accounts up to ₹50 crore (Other than Fraud Cases) - are aimed to protect the commercial decisions taken by bank employees and quicker resolution of vigilance cases taking into account the past track record of such staff.
12:09 AM
Blogger
9:09 PM
Blogger
9:09 PM
Blogger
9:09 PM
Blogger
8:09 PM
Blogger
6:02 PM
Blogger
Stressing that the new guidelines will surely boost the morale of the PSBs employees immensely, it said banks will have to complete staff accountability exercise within six months from the date of classification of the account as NPA.
3:09 PM
Blogger
3:02 PM
Blogger
The Reserve Bank of India (RBI) had imposed restrictions on the withdrawal of deposits from these stressed banks. Of the 20 banks, 10 are from Maharashtra, five from Karnataka, and one each from Uttar Pradesh, Kerala, Rajasthan, Madhya Pradesh, and Punjab.
1:09 PM
Blogger
5:11 AM
Blogger
RSS Feed
Twitter
