Three public sector banks unanimously agree on creating organisational structure

The Union Bank, Andhra Bank and Corporation Bank amalgamation is expected to be effective from April 1, 2020

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

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Tata, Nilekani promoted Avanti Finance to soon raise $ 30-40 mn

Avanti Finance, the microloan-focused NBFC promoted by Ratan Tata and Nandan Nilekani from their personal philanthropic funds, is looking to raise $

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IDBI Bank likely to be out of PCA framework in fourth quarter

With money coming from resolution on Essar Steel and expected flow from resolution of Bhushan Power and Steel and Alok Industries, sources said the bank is likely to be posting profit during the third quarter and the subsequent quarter. The bank has already come below net NPA threshold of 6% one of the three parameters for triggering PCA framework.

from Banking/Finance-Industry-Economic Times https://ift.tt/2SnQb1w

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In a big relief to exporters, SBI withdraws e-BRC charges

Banks charge Rs 1000 as e-BRC fee for every shipment exported from the country. SBI decision to withdraw e-BRC charges came after the intervention of Commerce and Industry Minister Piyush Goyal. A source from Commerce and Industry Ministry told ANI that," SBI has informed that e-BRC charge has been reduced to nil for all Export Credit Customer. SBI has further agreed to reverse the charges if wrongly levied by its field formation."

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Q84K6Y

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No need to declare religion for opening bank accounts, says govt

The clarification comes after a news report suggested that Indian banks may ask depositors and customers to list their religion.

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

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