Banking

Banking

IIFL is India’s No. 1 banker for equity issuances for private sector companies in FY18

Mumbai: As per Prime Database Investment Bankers League table for FY 2017-18, IIFL is India’s top investment bank for equity issuances by private sector companies. IIFL Holdings Ltd. ...
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AIIB partners IsDB for sustainable infrastructure development

Mumbai: For the first time, the Asian Infrastructure Investment Bank (AIIB) and the Islamic Development Bank Group (IsDB Group) have signed a Memorandum of Understanding (MOU) to establish ...
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Banking sector playing a vital role in socio-economic upliftment: Jai Ram Thakur

Shimla: Chief Minister Jai Ram Thakur in his message said that banking sector was playing a vital role in socio-economic upliftment of the people of the State, which ...
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Fitch downgrades PNB’s viability rating on deteriorating credit profile

New Delhi: Fitch Ratings on Monday downgraded viability rating of fraud-hit Punjab National Bank, citing significant deterioration in its credit profile and oversight gaps. The viability rating (VR) ...
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PNB shares plunge 14 pc after Q4 loss, Jefferies suggests bailout

Mumbai: The Shares of multi-crore fraud hit Punjab National Bank (PNB) slumped around 14 per cent (intra-day) on Wednesday, a day after the bank reported a loss of ...
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Fraud hit PNB posts biggest quarterly loss of Rs 13,417 crore in Q4

New Delhi: Scam-hit Punjab National Bank today posted loss of Rs 13,416.91 crore for the January-March period, the biggest ever by any domestic lender, as bad loans surged. ...
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CBI files charge sheet in Nirav Modi case, names PNB ex chief, senior officials

New Delhi: The CBI on Monday filed its first charge sheet in the country’s largest financial scam worth over USD 2 billion in Punjab National Bank by billionaire ...
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RBI puts Dena Bank under prompt corrective action

New Delhi, May 12, 2018 : The Reserve Bank of India (RBI) has initiated prompt corrective action against public sector lender Dena Bank in view of high non-performing ...
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Access to institutional finance, ECB to attract more investments in India: NHB, CEO

New Delhi, May 10, 2018:, Easy and dedicated access to institutional financing, higher limit on external commercial borrowings (ECB) will attract more investments and assure sustained growth of ...
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ED files PMLA case in Rs 621-crore UCO Bank loan fraud

New Delhi: The Enforcement Directorate has registered a case of money laundering in connection with an alleged Rs 621-crore loan fraud involving UCO Bank, officials said on Sunday. ...
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Big wilful defaulters owe PNB Rs 15,172 cr

New Delhi, May 6 : Big wilful defaulters owed Rs 15,171.91 crore in loans to Punjab National Bank at the end of March this year. The data from ...
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RBI penalty not to have any material impact: IDBI Bank

Mumbai, April 12 : State-run IDBI Bank on Thursday said a Rs 3 crore penalty imposed on it by the Reserve Bank of India (RBI) “will not have ...
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US Fed officials discuss possibility of faster future rate hikes

Washington, April 12 : US Federal Reserve officials signalled that the central bank may have to accelerate the pace of future rate hikes amid stronger economic growth and ...
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Fitch downgrades PNB’s viability rating to BB-

New Delhi, April 10 : Following the multi-crore fraud that took place in the bank, Fitch Ratings on Tuesday has downgraded the Viability Rating of Punjab National Bank ...
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Dimension Data enables SBI with 60 ‘digital’ branches

Mumbai, April 10 : Global ICT solutions and services provider Dimension Data on Tuesday announced that it has enabled the State Bank of India (SBI) with its Next-Gen ...
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Some PSU banks can be privatised, though time is not right now: SBI Chairman

New Delhi, April 6 : The time is not right for privatisation of public sector banks (PSBs), though some of them could be divested by the government after ...
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Kerala Bank will soon be reality: Minister

Thiruvananthapuram, April 5 : The setting up of the Kerala Bank by merging 14 district cooperative banks with the Kerala State Cooperative Bank (KSCB) is all set to ...
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RBI holds repo rate at 6% in first policy review of fiscal

Mumbai, April 5 : The RBI on Thursday maintained status quo on its key short-term lending rate at 6 per cent at its first bi-monthly monetary policy review ...
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ICICI Bank’s board to meet to review insolvency cases

Mumbai, April 2 : Private lender ICICI Bank said it will convene a board meeting on Monday to review cases under the Insolvency and Bankruptcy Code which are ...
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CBI registers PE against Chanda Kochhar’s husband in ICICI loan case

New Delhi, March 31 : The CBI has registered a preliminary enquiry against Deepak Kochhar, husband of ICICI bank MD and CEO Chanda Kochhar, officials of the Videocon ...
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Canara Bank calls off divestment process in Can Fin Homes

Mumbai, March 31 : State-run lender Canara Bank on Saturday said it has called off the divestment process of its entire stake in the housing finance company Can ...
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Jaitley silent on PNB scam to protect daughter: Rahul Gandhi

New Delhi, March 12 : Congress President Rahul Gandhi on Monday alleged that Finance Minister Arun Jaitley was silent on the Rs 12,600 crore PNB fraud case to “protect ...
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PNB scam: Additional Rs 1,300 cr fraud revealed

Mumbai, Feb 27 : The fraud-hit Punjab National Bank (PNB) has reported an additional Rs 1,300 crore unauthorised transactions, taking the estimated quantum to Rs 12,600 crore in ...
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PNB fraud should not halt corporate lending: Assocham

New Delhi, Feb 25 : The alleged Rs 11,300 crore fraud on state-run Punjab National Bank (PNB) committed by accused diamantaire Nirav Modi should not halt the entire ...
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PNB fraud fallout: CBI seals Brady House Branch in Mumbai

Mumbai, Feb 19 : The CBI on Monday sealed the Brady House Branch of the Punjab National Bank as multiple probe agencies continued with their probe into the Rs ...
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PNB incident shows vulnerability of Indian banking system: Assocham

New Delhi, Feb 16 : The industry body Assocham on Friday criticised the functioning of public sector banks and questioned its “vulnerable” position in a first reaction by any ...
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PNB fraud case: Union Bank has $300 mn outstanding exposure

Mumbai, Feb 16 : State-run Union Bank of India on Thursday said that it has an outstanding exposure of about $300 million in the $1.8 billion fraud detected by ...
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Punjab National Bank detects $1.8 bn fraud at a Mumbai branch

Mumbai, Feb 14 : Punjab National Bank, the second largest public sector bank in India, has detected a $1.8 billion fraud in one of its branches here, the bank ...
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Lead by PSBs, NPAs soar 34.5 pc in Q3; pain to linger on

Mumbai: The issue of impaired assets maybe far from over for the banking system as gross non- performing assets have grown by 34.5 per cent in the December ...
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Bank recapitalisation will boost lending: Arun Jaitley

New Delhi, Feb 10 : Finance Minister Arun Jaitley on Saturday said the government’s move to recapitalise public sector banks (PSB) would improve their lending capacity. “I think the ...
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RBI, SEBI need to take cognisance of market volatility: Urjit Patel

New Delhi, Feb 10 : Reserve Bank of India (RBI) Governor Urjit Patel on Saturday said the apex bank and the market regulator Securities and Exchange Board of India ...
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RBI’s neutral stance shows it is less hawkish: JP Morgan

New Delhi, Feb 9 : With retail inflation in India going over the five per cent mark, the RBI continuing its neutral stance at its final monetary policy review ...
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RBI shouldn’t hike rate for fear of Budget stoking inflation

The RBI should refrain from raising interest rates owing to concerns about inflation being stoked by the pro-farm sector proposals of the budget 2018-19, industry chamber Assocham said ...
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New India Assurance net profit zooms to Rs 617 cr in Q3

Public sector general insurer, New India Assurance Company Ltd, on Saturday said it has posted a net profit of Rs 617.28 crore for the quarter ended December 31, ...
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Bitcoin plunges 20% in Japan fearing inspection

The price of bitcoin dropped 20 per cent in the Japanese markets after authorities on Friday inspected the headquarters of the cryptocurrency exchange operator Coincheck. They were probing ...
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AG’s views against CBI filing appeal in Bofors case not binding: Parliamentary panel told

The government is learnt to have told a Parliamentary panel that the view of Attorney General K.K. Venugopal against filing an appeal in the Bofors case in the ...
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SBI Cards initiates credit cards for farmers

State Bank of India’s subsidiary is planning to launch a credit card for farmers for which it has initiated a pilot launch in three states, an official said ...
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Banking sector performance was subdued: Economic Survey

The performance of the banking sector in general and those in the public sector in particular continued to be subdued in the current fiscal, the Economic Survey 2017-18 ...
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GST has stabilised, opportunity for rationalisation: Jaitley

Days after the GST collections picked up after falling for two straight months, Union Finance Minister Arun Jaitley on Saturday said the GST structure had stabilised, which offered ...
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Jaitley charts out PSB recap plans, special monitoring of loans above Rs 250 cr

New Delhi, Jan 24 : Aiming at maintaining healthy books of public sector banks, Finance Minister Arun Jaitley on Wednesday charted out the government’s recapitalisation plans, underlining that ...
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Government to infuse Rs 1 lakh crore into PSBs this fiscal: Jaitley

New Delhi, Jan 24 : Seeking to perk up public sector banks that have been hit by huge non-performing assets (NPAs), the government on Wednesday announced plans to ...
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Bankers suggest lowering corporate tax, MAT to boost credit growth: Survey

New Delhi, Jan 24 : Bankers have suggested accelerated investments and interest subvention for investments in long gestation infrastructure projects, along with lowering of corporate tax rate and ...
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SBI Caps to evaluate monetisation of Railways’ transmission assets

New Delhi, Jan 24 : SBI Capital Markets will evaluate Indian Railways’ overhead equipment (OHE) network for electrical traction as the state-run transporter is exploring the monetisation of ...
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ONGC ties-up with banks to part-fund HPCL acquisition

Mumbai, Jan 24 : Oil and gas explorer ONGC has entered into short-term loan agreements with three banks to part-fund its acquisition of HPCL. Accordingly, the company has ...
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FinMin asks PSBs to rationalise overseas, domestic branches

New Delhi, December 25 : The Finance Ministry has asked public sector banks to look at rationalising their domestic and overseas branches as part of the reform process ...
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‘Bankers may strike work against FRDI Bill’

Chennai, Dec 12: Opposing the Financial Resolution and Deposit Insurance (FRDI) Bill, the All India Bank Employees Association (AIBEA) has said it is planning a strike if the ...
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Allahabad Bank reduces MCLR by 5 bps

Kolkata, Nov 29: State-run Allahabad Bank on Wednesday said it has reduced its Marginal Cost of Funds-based Lending Rate (MCLR) by 5 basis points (bps) across all tenors ...
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Four bank officials kidnapped in Tripura

Agartala, Nov 25: Four employees of Tripura Gramin Bank were kidnapped by unknown persons from southwestern Tripura, police said here on Saturday. The miscreants kidnapped the four Tripura ...
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SBI biggest bank by volume of SMSes: Report

New Delhi, Nov 21: The State Bank of India (SBI) is the biggest bank by volume of SMSes, with 30 per cent of Truecaller users using it, followed ...
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Fake currency of Rs 6 lakh face value seized in Bengal

Kolkata, Nov 19: The West Bengal Police has seized fake Indian currency notes of close to Rs 6 lakh face value from Ranibagan area of Baharampur in West ...
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Stress on asset resolution, recapitalisation to improve banks’ balance sheets

Mumbai, Nov 17: Reserve Bank of India (RBI) Deputy Governor Viral V. Acharya on Thursday said asset resolution and bank recapitalisation are expected to strengthen bank balance sheets ...
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Demonetization has demolished demon of black money

PART—I BY: Dr Subhash Sharma Hype apart, the Central government’s demonetisation decision has certainly served a debilitating blow to the demon of black money, which has survived and ...
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Surveillance, savings take prominence post DeMon

Part III: A great outcome of demonetisation or DeMon has been the kind of surveillance which the government has been able to put in place to keep a ...
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Country can ask Jaitley to quit over note ban, GST ‘failures’: Yashwant Sinha

Ahmedabad, Nov 14 : Former Union Finance Minister and BJP veteran Yashwant Sinha on Tuesday termed demonetisation and the Goods and Services Tax (GST) as “failures” and said ...
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Robbers dig 25-feet tunnel to rob Bank of Baroda in Maharashtra (Lead)

Navi Mumbai, Nov 13 : Robbers dug a 25-feet tunnel to sneak into the Bank of Baroda’s Juinagar Branch here and reportedly escaped with Rs 1 crore in ...
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Excess currency in system not a good omen

PART— 2 Dr Subhash Sharma The excessive presence of currency in the system is not a healthy economic practice. It should be discouraged through digital transactions. It is ...
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Note Ban has been a Pain and No Gain said “shashi Tharoor”

Thiruvananthapuram, Nov 8: Demonetisation has been all pain and no gain, senior Congress leader and Thiruvananthapuram Lok Sabha member Shashi Tharoor said on Wednesday, summing up the effects ...
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Demonetisation failed litmus test as most banned notes returned (Book Extract)

(‘Note-Bandi: Demonetisation and India’s Elusive Chase for Black Money’ is an upcoming book from Oxford University Press dedicated to the “memory of Indian citizens who lost their lives ...
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Recapitalisation plan must not derail the fight against NPAs

The Centre’s decision to infuse Rs 2.11 lakh crore into banks under the recapitalisation plan is certainly a good move, but public sector banks (PSBs) must not get ...
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PART—VI No need to be soft with PSBs on NPA issue

It will amount to playing ducks and drakes with the economy if the Centre decides to be soft with public sector banks (PSBs) and even private sector banks ...
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PART—V NPAs an opportunity for NDA government

Non-performing assets (NPAs) or dud loans of public sector banks are a bad legacy, which the current NDA government has inherited from the UPA government when Indian economy ...
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ATM malware has evolved to attack banks’ corporate network: Report

Bengaluru, Oct 17 : ATM malware has evolved from requiring physical access to infect the machines to now successfully attacking network-based access using the bank’s corporate network, a ...
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Clean energy think-tank favours more access to debt

New Delhi, Oct 5 : India’s industry body Clean Energy Access Network (CLEAN) on Thursday laid emphasis on building a modern energy system through increased public-private partnership and ...
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RBI maintains key rates, but eases liquidity

Mumbai, Oct 4 : Rising inflationary pressure and concerns over “fiscal slippage” prompted India’s central bank, the RBI, on Wednesday to maintain its key lending rates. However, the ...
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Rajnish Kumar is new SBI Chairman

Mumbai, Oct 4 🙂 A post-graduate in Physics-turned professional banker, Rajnish Kumar was on Wednesday named the new Chairman of the State Bank of India (SBI). Kumar, currently ...
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RBI may opt for status quo on rates

Mumbai, Oct 2 : The Reserve Bank of India (RBI) is expected to keep its key interest rate unchanged in its next monetary policy review on Wednesday, in ...
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Loan default: Listed cos get a breather from Sebi

New Delhi: Markets regulator Sebi has put off implementation of its directive ‘until further notice’ that required listed firms to inform exchanges if they default on loan payments ...
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US fines HSBC $175mn for unsafe forex trading

Washington, Sep 30 : The US Federal Reserve said on Friday that it had fined global banking giant HSBC Holdings $175 million for its unsafe and unsound foreign ...
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HDFC Bank’s Messenger chatbot registers 160% growth

New Delhi, Sep 19 HDFC Bank’s Facebook Messenger chatbot “OnChat” has registered a 160 per cent month-on-month growth in transactions, the company said on Tuesday. “We are excited ...
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‘Indian banks exploring various means of recapitalisation’

New Delhi, Sep 14 : Recapitalisation is a major issue for state-run banks owing to the massive non-performing assets (NPAs), or bad loans, accumulated by them and they ...
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AI seeks STL worth over Rs 3,000 crore

New Delhi, Sep 14 : National passenger carrier Air India has invited bids from banks for Rs 3,250 crore government guarantee backed “Short Term Loans” (STLs). The airline ...
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As RBI chief, faced no government interference: Raghuram Rajan

Chennai, Sep 5 : Speaking of the government’s relations with the Reserve Bank of India (RBI), former RBI Governor Raghuram Rajan on Tuesday said that personally he had ...
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IDBI seeks vacation of stay of insolvency proceedings against Jaypee

New Delhi, Sep 5 : The Supreme Court will hear on September 11, the IDBI’s plea seeking restoration of insolvency proceedings against the Jaypee Infratech that was put ...
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Slowdown of credit pre-dates banks drive against NPAs: Rajan

New Delhi, Sep 3 : The slowdown of credit growth in India is not the fallout of state-run banks attempting to resolve their massive non-performing assets (NPAs), or ...
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It may take ATMs three months to dispense Rs 200 notes

New Delhi, Sep 3 : While the RBI launched the 200-rupee note a week ago, it may take up to three months for ATMs to start dispensing the ...
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Credit growth of banks slowed to 8.1% in 2016-17: Report

New Delhi, Sep 2 : The credit growth of all banks slowed down to 8.1 per cent in 2016-17 from 10.9 per cent in the previous year, though ...
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Bandhan Bank focuses on gold loan, initiates listing process

Kolkata, Aug 24 : In a bid to strengthen the retail loans portfolio, the private lender Bandhan Bank is focusing on gold loans along with affordable housing segment, ...
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Cabinet gives in principle nod for bank mergers

New Delhi, Aug 23 : In the context of massive accumulation of bad loans by state-run banks, the Union Cabinet on Wednesday gave an “in principle” approval for ...
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RBI mulling over Ombudsman for NBFCs: RBI Dy Guv

New Delhi, Aug 23 : The Reserve Bank of India (RBI) is considering an ‘Ombudsman’ scheme for redressal of customer grievances with the non-banking finance companies (NBFCs) even ...
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Indian microfinance loans grew 26% in Q1

New Delhi, Aug 23 : The business of Indian non-banking finance companies-microfinance institutions (NBFCs-MFIs) has grown 26 per cent during the first quarter of the current fiscal over ...
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Dawn-to-dusk bankers strike affects operations in TN

Chennai, Aug 22 : Banking operations in Tamil Nadu were affected on Tuesday with around 55,000 bankers striking work pressing for their demands, said a top All India ...
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Banking operations to hit on Aug 22 due to nationwide strike

Chennai, Aug 21 : Banking operations across the country will be affected on Tuesday with around 10 lakh bankers going on strike pressing various demands. “All India State ...
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Still judging current mechanism for resolving bad debts: Jaitley

Mumbai, Aug 19 : Finance Minister Arun Jaitley said on Saturday that while previous laws were only partly effective in resolving the problems of insolvency and bankruptcy in ...
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Time to infuse new lease of life into banking sector

It is not to undermine the great work of Indian banks, but there is certainly a need to chart a programme on financial sector reforms (FSR), which is ...
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IBA calls bank unions for a meeting

Chennai, Aug 12 : In an attempt to avert the nationwide bankers’ strike on August 22, the Indian Banks’ Association (IBA) and the Chief Labour Commissioner have called ...
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Bank of Baroda net down to Rs 203 cr

Mumbai, Aug 11 : Public sector Bank of Baroda on Friday said it closed the first quarter of the current fiscal with a drastic fall in net profit ...
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SBI standalone net profit at Rs 2,005 cr, NPA shoots up

Mumbai, Aug 11 : The State Bank of India (SBI) on Friday said its standalone net profit went down to Rs 2,005.53 crore during the first quarter of ...
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Government has not written off any corporate loans: FM

New Delhi, Aug 11 : The government has not written off even a single rupee of corporate loan, Finance Minister Arun Jaitley told the Lok Sabha on Friday. ...
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Banks may need 20% extra provisioning for 50 top bad debts: Study

New Delhi, Aug 3 : Banks may require an incremental provisioning of 20 per cent against cumulative debt totalling over Rs 4.3 lakh crore of the 50 large ...
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Lower inflation gave room for rate cut, but risks remain: Patel

Mumbai, Aug 2 : Given the urgent need to reinvigorate investment in India, the falling trajectory of core inflation over the last quarter opened up room for the ...
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Currency in circulation reaching normal levels: RBI

Mumbai, Aug 2 : The Reserve Bank of India (RBI) on Wednesday said that the currency in circulation was showing signs of reaching normal levels after the note ...
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RBI rate cut necessary for sustained growth: DEA

New Delhi, Aug 2 : Welcoming the 25 basis points cut in the repo rate by the Reserve Bank of India, the Department of Economic Affairs (DEA) on ...
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Working on next steps for NPAs resolution: RBI

Mumbai, Aug 2 : The Reserve Bank of India (RBI) on Wednesday said it was working on the next steps for the resolution of the stressed assets or ...
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Subdued inflation prompts RBI to reduce key lending rates

Mumbai, Aug 2 : Subdued inflation and demand prompted India’s central bank, the RBI, on Wednesday to reduce its key lending rate by 25 basis points (bps). According ...
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PNB’s Q1 standalone net profit up 12%

Mumbai, Aug 2 : State-owned Punjab National Bank (PNB) on Wednesday reported a 12.09 per cent increase in the standalone net profit for the first quarter (Q1) of ...
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RBI expected to cut key interest rate on Wednesday

Mumbai, Aug 1 : With latest macro-economic data showing inflation at a record low and fall in factory output, the Reserve Bank of India (RBI) is expected to ...
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RBI needs to cut interest rate by 25 basis points: Assocham

New Delhi, July 30 : Ahead of the Reserve Bank of India’s (RBI) forthcoming monetary policy review next week, industry chamber Assocham has on Sunday urged the apex ...
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HDFC Standard Life’s board approves resolution for IPO

Mumbai, July 18 : HDFC on Monday said that the board of HDFC Standard Life Insurance Company has approved an “enabling resolution for an initial public offering (IPO)”. ...
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SBI Life Insurance files DRHP for IPO

Mumbai, July 18 : State Bank of India on Monday said that its subsidiary SBI Life Insurance Company has filed a draft red herring prospectus with Sebi for ...
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Gujarat HC dismisses Essar plea challenging insolvency proceedings

Ahmedabad, July 17 : The Gujarat High Court on Monday dismissed Essar Steel’s writ petition challenging the RBI directive to a consortium of banks led by the State ...
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Dealing with Rs 8 lakh crore ‘scandalous’ NPAs

The non-performing assets (NPAs) of banks have assumed a ‘scandalous’ proportion. It is painful see the banks’ inability in recovering money from the defaulters. Even if the banks ...
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‘Opportune time for RBI to cut key interest rates’

New Delhi, July 15 : This is the opportune time for the Reserve Bank of India to cut key interest rates to boost manufacturing and investment which are ...
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Bank of India expects to be profitable by September-end

Kolkata, July 15 : State-run lender Bank of India, which incurred losses for two consecutive financial years, is hopeful of turning profitable by the end of the second ...
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SBI MD for faster resolution of bad debts

New Delhi, July 14 : Unhappy with the pace of the resolution of Non-Performing Assets (NPAs), especially with the Essar Steel case in the court, a top SBI ...
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Subhash Garg nominated on RBI Central Board

Mumbai, July 14 : The government has nominated Subhash Chandra Garg, Secretary in the Department of Economic Affairs in the Ministry of Finance, to replace Shaktikanta Das as ...
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SBI reduces NEFT, RTGS charges upto 75%

New Delhi, July 13 : The country’s largest public sector bank, State Bank of India (SBI), has reduced charges for National Electronic Funds Transfer (NEFT) and Real Time ...
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S.Korea freezes interest rate at record low

Seoul, July 13 : South Korea’s central bank on Thursday froze its benchmark interest rate at a record low, refraining from altering the rate for 13 months in ...
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Demonetised currency still being counted, says Urjit Patel

Delhi, July 13 : The Reserve Bank of India is still not in a position to provide the exact amount of demonetised currency returned to the central bank, ...
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Data analytics to play key role: SBI chief

Kolkata, July 11 : State Bank of India’s Chairperson Arundhati Bhattacharya on Tuesday said data analytics will play a key role in digital banking. “On the corporate side, ...
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IndusInd Bank’s Q1 net profit up 26%

Mumbai, July 11 : Lending major IndusInd Bank on Tuesday reported a rise of 26 per cent in its net profit for the first quarter (Q1) of 2017-18. ...
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Self-help groups can create jobs with banks’ funds: Jaitley

New Delhi, July 11 : Acknowledging that the size of unorganised sector was large, Union Finance Minister Arun Jaitley on Tuesday said that employment in the section can be ...
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India to be part of new global foreign exchange committee

Hamburg, July 10 : India will soon have representation in the Global Foreign Exchange Committee (GFXC) of various central bankers and experts that has been recently formed to work ...
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Qatar’s central bank boasts $340bn in reserves

Doha, July 10 : The governor of Qatar’s central bank said the country has $340 billion in reserves and the economy will be able to fully withstand any financial ...
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RBI amends order on bankruptcy action on 12 large NPAs

Mumbai, July 9 : The Reserve Bank of India (RBI) has amended its earlier order asking banks to initiate bankruptcy proceedings against 12 companies which have outstanding loans amounting ...
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SBI launches INTOUCH, digital village initiatives in Nepal

Mumbai, July 8 : The State Bank of India (SBI) has launched its flagship service INTOUCH in Nepal, an official spokesperson said here on Saturday. The sbiINTOUCH, inaugurated by ...
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M&As in Indian banking sector not threat for fintech players

Chennai, July 8 : The mergers and acquisitions (M&A) that may happen in the Indian banking sector may open up more opportunities for financial technology companies, said a top ...
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Insolvency and Bankruptcy Board seeks comments on new code

New Delhi, July 7 : In a further move to tackle the huge issue of banks’ bad loans in India, the Insolvency and Bankruptcy Board on Thursday invited public ...
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UBI aims at 12.8% business growth in 2017-18

Kolkata, June 29 : United Bank of India (UBI) is looking at a 12.8 per cent growth in business to clock a figure of Rs 2.20 lakh crore in ...
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Allahabad Bank eyes 12.23 % business growth in FY 18

Kolkata, June 28 : State run lender Allahabad Bank is looking to achieve a business growth of Rs 12.23 per cent in the current financial year and is also ...
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Difference of opinion between RBI, govt is not bad: Y.V. Reddy

New Delhi, June 28 : Difference of opinion between Reserve Bank of India and the government is not a bad thing at all, says former RBI Governor Y.V. Reddy, ...
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Japanese airbag manufacturer files for bankruptcy

Tokyo, June 26 : Japanese airbag manufacturer Takata has filed for bankruptcy protection in a court in Tokyo and the US after multimillion-dollar losses caused by defective devices, the ...
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RBI reconstitutes Overseeing Committee on stressed assets

Mumbai, June 22 : The Reserve Bank of India (RBI) on Thursday said it has reconstituted the “Overseeing Committee (OC)” formed to look at the stressed assets of the ...
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Hackers threaten cyberattack against S.Korean banks

Seoul, June 22 : A hacker group has threatened a cyberattack against seven major South Korean banks if they do not pay 360 million won ($315,000) in the virtual ...
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DCCBs allowed to deposit demonetised notes with RBI

New Delhi, June 21 : The government on Tuesday allowed the RBI to accept demonetised notes collected by District Central Cooperative Banks (DCCBs) immediately after the note ban, a ...
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Karnataka waives crop loans of farmers from cooperatives

Bengaluru, June 21 : The Karnataka government on Wednesday decided to waive crop loans of up to Rs 50,000 availed by over 22 lakh farmers from cooperatives in the ...
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A bank loses $1.8 mn on average after DDoS attack

Moscow, June 20 : A Distributed Denial of Service (DDoS) attack on bank’s online services, on average, costs the organisation nearly $1.8 million — double the price of recovering ...
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RBI’s move on NPA resolution credit-positive for banks: Moody’s

Mumbai, June 19 : Global credit rating agency Moody’s Investors Service on Monday dubbed as ‘credit-positive’ for Indian banks the RBI plans to resolve 12 large bank loan accounts ...
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IDBI Bank asked to begin insolvency resolution on Lanco lnfratech

Mumbai, June 18 : Infrastructure major Lanco lnfratech (LITL) on Saturday said that the Reserve Bank of India (RBI) has directed its lead lender IDBI Bank to initiate corporate ...
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RBI initiates PCA against Bank of Maharashtra

Mumbai, June 18 : The Reserve Bank of India (RBI) has initiated “prompt corrective action” (PCA) on state-run lender Bank of Maharashtra in the view of its high non-performing ...
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No plan to issue next list of defaulters any time soon: RBI

New Delhi, June 16 : Following its identification of 12 accounts responsible for 25 per cent of the non-performing assets (NPAs) of banks in the country, the Reserve Bank ...
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US Fed raises interest rates

Washington, June 15 : US Federal Reserve on Wednesday raised the benchmark interest rates for the fourth time since December 2015 and unveiled plan to start trimming its balance ...
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US central bank mulls higher short-term interest rate

Washington, June 14 : Top officials of the US central bank in Washington are reviewing an option to raise short-term interest rates and by how much, a media report ...
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CBI arrests company promoters, bank official in fraud case

New Delhi, June 13 : The CBI on Tuesday said it has arrested Abhijeet Group promoters — Manoj Jayaswal and Abhishek Jayaswal — and a former Canara Bank Deputy ...
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Bringing Mallya back to India not easy: V.K. Singh

Bhubaneswar, June 13 : Union Minister of State for External Affairs General V.K. Singh on Tuesday said that extradition was not a simple issue even as he assured that ...
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RBI issues new batch of Rs 500 notes

Mumbai, June 13 : The Reserve Bank of India has issued a new batch of Rs 500 denomination notes, an official statement said on Tuesday. “In continuation of issuing ...
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Hong Kong becomes AIIB member

Hong Kong, June 13 : Hong Kong on Tuesday said that it has become a member of the Asian Infrastructure Investment Bank (AIIB). In May, the Finance Committee of ...
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ATM machine stolen in J&K’s Pampore town

Srinagar, June 13 : An automatic teller machine (ATM) of HDFC Bank has been stolen by thieves in Pampore town in Jammu and Kashmir, police said on Tuesday. Police ...
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RBI at advanced stage of preparing top loan defaulters’ list: Jaitley

New Delhi, June 12 : Plagued by huge bad loans problem, the government on Monday said the Reserve Bank of India (RBI) is in an advanced stage of preparing ...
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States will have to find funds for farm loan waivers: Jaitley

New Delhi, June 12 : With mounting demands from farmers for loan waiver, Finance Minister Arun Jaitley on Monday said states will have to find funds for it from ...
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Canara Bank to sell New India insurance products

Bengaluru, June 9 : State-run Canara Bank on Friday signed an agreement with New India Assurance Company Ltd. to sell its general insurance products through bank branches in metros, ...
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Cabinet approves MoU with S. Korea for $9 bn export credit

New Delhi, June 7 : The Cabinet on Wednesday approved the proposed Memorandum of Understanding (MoU) between Export-Import Bank of India (EXIM Bank) and Export-Import Bank of South Korea ...
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Indian equities jittery ahead of RBI policy meet outcom

Mumbai, June 7 : The Indian equity markets traded on a flat note during the mid-afternoon session on Wednesday as investors were cautious ahead of the outcome of the ...
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NDB and Global Economic Challenges

The New Development Bank (NDB) has come up at a time when global in general and economies of BRICS nations—Brazil, Russia, India, China and South Africa—are poised for ...
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RBI likely to hold interest rate on Wednesday

Mumbai, June 5 : The Reserve Bank of India (RBI) is expected to keep interest rates unchanged in its second bi-monthly policy review scheduled for Wednesday, despite latest data ...
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Clear sign of desperation among Pak-funded militants

  The recent bank robberies and burglaries in the Kashmir valley are clear indicators that terrorists are facing a cash crunch since Prime Minister Narendra Modi declaring the ...
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World Bank keeps 2017 global growth forecast at 2.7%

Washington, June 5 : World Bank on Sunday maintained its forecast for global growth in 2017 and 2018 unchanged at 2.7 per cent and 2.9 per cent, respectively, as ...
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Tripura Gramin Bank tops in business among regional rural banks: Official

Agartala, June 1 : The Tripura Gramin Bank (TGB), which has posted a net profit of Rs 56.89 crore in last fiscal (2016-17), topped in business among the 56 ...
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CBI raids in Delhi-NCR over Rs 27 cr cheating case

New Delhi, June 1 : The Central Bureau of Investigation (CBI) on Thursday raided several places across the National Capital Region as it probed a Rs 27 crore cheating ...
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Deutsche Bank fined $41 mn for money laundering violations

Washington, May 31 : The US Federal Reserve has announced a penalty of $41 million on the US operations of Deutsche Bank for its deficiencies in anti-money laundering ...
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Multi-lateral New Development Bank to aid India

 D S MALIK                                                    ...
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