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RBI lifts lending curbs on Bank of India, Bank of Maharashtra, Oriental Bank of Commerce; move to expand loan growth
Business

RBI lifts lending curbs on Bank of India, Bank of Maharashtra, Oriental Bank of Commerce; move to expand loan growth

Eight public sector banks—Allahabad Bank, United Bank of India, Corporation Bank, IDBI Bank, UCO Bank, Central Bank of India, Indian Overseas Bank and Dena Bank—still remain under PCA framework,

Dena Bank narrows loss to Rs 178 cr in third quarter; improves asset quality, but gross NPAs rises to 19.77%
Business

Dena Bank narrows loss to Rs 178 cr in third quarter; improves asset quality, but gross NPAs rises to 19.77%

Dena Bank had posted a net loss of Rs 380 crore in the October-December period of 2017-18.

Besides PNB, Nirav Modi defrauded four other public sector banks, used fake invoices with inflated prices to swindle funds
India

Besides PNB, Nirav Modi defrauded four other public sector banks, used fake invoices with inflated prices to swindle funds

Recent developments suggest that state-owned Punjab National Bank (PNB) may have taken the largest hit of the massive fraud by fugitive diamantaire Nirav Modi but other banks too were targeted by one of the biggest banking swindler in India.

Dena Bank, Vijaya Bank shares tank; Bank of Baroda rises after Cabinet approves three-way merger
Business

Dena Bank, Vijaya Bank shares tank; Bank of Baroda rises after Cabinet approves three-way merger

The scrip of Dena Bank plummeted 19.77 percent to Rs 14.40 on BSE. Shares of Vijaya Bank plunged 7.44 percent to Rs 47.25.

Bank of Baroda, Dena, Vijaya Bank merger: No real winners here; one bad apple can spoil the whole bunch
Business

Bank of Baroda, Dena, Vijaya Bank merger: No real winners here; one bad apple can spoil the whole bunch

This is a merger of two healthy banks with one weak, capital-starved, NPA-ridden candidate and it is easy to see who stands to gain the most

Daily Bulletin: Rafale row likely to disrupt Parliament; Kerala UDF to observe 'black day' over Sabarimala; Ramakant Achrekar dies at 87; day's top stories
India

Daily Bulletin: Rafale row likely to disrupt Parliament; Kerala UDF to observe 'black day' over Sabarimala; Ramakant Achrekar dies at 87; day's top stories

Today's top stories: Ramakant Achrekar passes away at 87; Seven arrested after 37 killed in central Mali; Rafale discussion to continue in Lok Sabha today; and more.

Cabinet clears merger of Dena Bank, Vijaya Bank with Bank of Baroda; no impact on service conditions of employees
Business

Cabinet clears merger of Dena Bank, Vijaya Bank with Bank of Baroda; no impact on service conditions of employees

With the merger, Bank of Baroda will become the third largest bank after State Bank of India and ICICI Bank.

Cabinet clears merger of Dena Bank, Vijaya Bank with Bank of Baroda
Business

Cabinet clears merger of Dena Bank, Vijaya Bank with Bank of Baroda

The government on Wednesday approved the merger of Dena Bank and Vijaya Bank with Bank of Baroda (BoB) to make it a globally competitive lender.

Bank of Baroda finalises share swap ratio for merger with Vijaya, Dena Bank
Business

Bank of Baroda finalises share swap ratio for merger with Vijaya, Dena Bank

The government in September last year had announced merger of state-owned Vijaya Bank and Dena Bank, with larger peer Bank of Baroda, aiming to create the third largest lender after SBI and ICICI Bank.

RBI governor Shaktikanta Das meets private sector bankers; discusses liquidity issues
Business

RBI governor Shaktikanta Das meets private sector bankers; discusses liquidity issues

At the past two meetings held between RBI and state- run banks, Das had deliberated on the prompt correction action framework.

Second strike in a week cripples banking services across nation; cheques worth Rs 2 lakh crore held up in three states alone
Business

Second strike in a week cripples banking services across nation; cheques worth Rs 2 lakh crore held up in three states alone

In Maharashtra, Goa and Gujarat alone, cheques worth Rs 2 lakh crore were held up during the strike, a union official claimed.

Public sector bank strike today, around 10 lakh employees to participate; services impacted
Business

Public sector bank strike today, around 10 lakh employees to participate; services impacted

The strike has been called to protest against the proposed amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda.

State-run banks to go on nation-wide strike Wednesday; protesting against Vijaya Bank and Dena Bank's merger with Bank of Baroda
Business

State-run banks to go on nation-wide strike Wednesday; protesting against Vijaya Bank and Dena Bank's merger with Bank of Baroda

Services of state-owned banks are expected to be impacted on Wednesday due to a nation-wide strike call given by unions to protest against the proposed amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda. This will be the second bank strike in less than a week.

Finance Ministry's Alternative Mechanism gives nod for BoB, Dena, Vijaya Bank merger
Business

Finance Ministry's Alternative Mechanism gives nod for BoB, Dena, Vijaya Bank merger

The 'Alternative Mechanism' (AM) headed by Finance Minister Arun Jaitley had decided to merge three banks with a view to creating a global size lender, which will be stronger and sustainable.

Banks to remain closed for five days from tomorrow; holidays, strikes to affect operations, ATMs may take hit on 26 Dec
Business

Banks to remain closed for five days from tomorrow; holidays, strikes to affect operations, ATMs may take hit on 26 Dec

The UFBU, an umbrella body of the top nine bank unions, has given a strike call on 26 December while the AIBOC has appealed for a strike on Friday

Bank unions plan strike on 26 December against BoB-Vijaya-Dena merger; govt, banks to go ahead with decision
Business

Bank unions plan strike on 26 December against BoB-Vijaya-Dena merger; govt, banks to go ahead with decision

All unions under UFBU will participate in this strike call, said Ashwani Rana, vice president of the National Organisation of Bank Workers.

BoB, Vijaya Bank, Dena Bank send merger proposal to government for a final approval
Business

BoB, Vijaya Bank, Dena Bank send merger proposal to government for a final approval

The government had announced the merger of Bank of Baroda, Vijaya Bank and Dena Bank on 17 September, to create the country's third-largest lender.

Employee unions to protest across country against BoB, Vijaya Bank, Dena Bank  merger decision on Tuesday
Business

Employee unions to protest across country against BoB, Vijaya Bank, Dena Bank merger decision on Tuesday

A bank employee unions' federation has called upon bank unions to hold demonstrations on Tuesday to protest against the merger of three state-run lenders --Bank of Baroda, Vijaya Bank and Dena Bank, a union leader said on Monday.

Amalgamation not on cards; focus on internal consolidation, making bank financially healthy, says PNB MD Sunil Mehta
Business

Amalgamation not on cards; focus on internal consolidation, making bank financially healthy, says PNB MD Sunil Mehta

PNB has registered credit growth more than the industry average, and appreciating the pace of recovery, the government has decided to provide Rs 5,431 crore capital support.