State-owned Indian Overseas Bank and Bank of Maharashtra on Wednesday announced a reduction in their marginal cost of funds based lending rate (MCLR)
Bank of Maharashtra gets govt mandate to collect donations for PM CARES Fund; contributions to get I-T Act exemption
One can also remit contributions directly by electronic clearing system (ECS) to the designated savings bank account of Bank of Maharashtra.
MahaRERA allows home-owners of DSK Group to complete stressed project in Pune; directs freezing of promoter's bank account for project
DSK Group chairman DS Kulkarni and his wife are currently lodged in Yerawada jail in Pune for allegedly cheating nearly 33,000 depositors and investors of nearly Rs 2,043.18 crore
Banking services likely to be partially affected today as employees unions call for 24-hour strike; RBI, SBI to function normally
Regional Rural Banks and cooperatives banks will also not participate in the strike as mergers do not affect them, sources said.
Half dozen public sector banks cut lending rates by up to 25 bps; home, auto loans to become cheaper
About half a dozen public sector banks, including Bank of India, Oriental Bank of Commerce and Bank of Maharashtra, have reduced lending rates by up to 25 basis points following a cut in the key policy repo rate by the RBI last month
Only 39% of crop loan disbursement target met in poll-bound Aurangabad; farmers seek private lenders as banks, political parties play blame game
In May 2019, Maharashtra Chief Minister Devendra Fadnavis okayed a 4.24 lakh crore annual credit plan, which included Rs 87,000-crore credit plan for agriculture. He urged the banks to give maximum loans to farmers by being sensitive in order to achieve the target.
Govt appoints former Syndicate Bank executive director SS Mallikarjuna Rao as PNB managing director till September 2021
The government on Tuesday appointed S S Mallikarjuna Rao as managing director of Punjab National Bank in place of Sunil Mehta.
Shares of public sector banks on Monday zoomed up to 10 percent after the government announced upfront capital infusion of Rs 70,000 crore into them
State-owned Bank of Maharashtra on Monday reported a net profit of Rs 81.10 crore for the June quarter of 2019-20 financial year as bad assets fell substantially
SBI takes first cue from RBI governor, reduces key lending rates by 5 bps points to 8.40%; home loans to get cheaper
The new rates, effective from Wednesday, is the third reduction by SBI in this financial year
Five weak banks under the Prompt Corrective Action (PCA) framework of the Reserve Bank of India (RBI) too need capital to maintain minimum regulatory capital ratios as per the Basel III norms.
A day after the RBI cut the key repo rate, public sector Bank of Maharashtra Friday announced to cut the benchmark one-year MCLR by 0.10 percent to 8.60 percent
In its earlier resolution plan, NBCC offered 1,400 acre land worth Rs 6,000 crore as well as Yamuna Expressway to lenders.
Bank of Maharashtra to auction assets of Videocon Group's Unity Appliances to recover Rs 154 cr loan
State-owned Bank of Maharashtra (BoM) has put on sale movable and immovable properties of Unity Appliances, a unit of debt-ridden Videocon Group, to recover Rs 153.77 crore loan
Govt's fund infusion into PSBs not sufficient to support lending growth, additional $23 bn required in 2019: Fitch
The finance ministry last week announced infusion of Rs 48,239 crore fund in 12 public sector banks in this fiscal to help them maintain regulatory capital requirements and finance growth plans.
The finance ministry on Wednesday announced to pump in Rs 48,239 crore in 12 public sector banks in this fiscal to help them maintain regulatory capital requirements and finance growth plans
RBI slaps penalties on 7 banks for non-compliance of norms; Rs 1.5 cr imposed on Allahabad Bank, Bank of Maharashtra, IOB
The Reserve Bank further said Rs 20 lakh fine each on HDFC Bank, IDBI Bank and Kotak Mahindra Bank for non-compliance with various directions on KYC norms and anti-money laundering standards.
Bank of India, Bank of Maharashtra taken off of RBI's corrective action list as asset quality, capital ratios improve
The source, who asked not to be named as the discussions are private, said the move follows improvements in the asset quality and capital ratios of both banks.
Govt to infuse Rs 2,159 crore in United Bank of India; BoI likely to get highest amount of Rs 10,086 crore
The finance ministry had informed the bank about the capital infusion on Wednesday (26 December), United Bank of India said in a regulatory filing.
At the past two meetings held between RBI and state- run banks, Das had deliberated on the prompt correction action framework.