PNB, IOB cut lending rates by 75 bps effective today; PSBs to pass on repo rate cut benefit to their customers
State-owned banks Punjab National Bank (PNB) and Indian Overseas Bank on Tuesday announced a reduction in their lending rates linked to the repo rate by 75 basis points, effective 1 April
Public sector banks with about 80 percent of banking operation have taken steps to ensure the safety of its staff and uninterrupted banking services to customers.
Indian Overseas Bank has reported widening of net loss to Rs 2,253.64 crore for the quarter ended September 30, 2019.
PSU banks to introduce home, auto loans on PSB Loans in 59 Minutes portal; move aims at expanding retail business
Some of the banks including SBI, Union Bank of India, and Corporation Bank decided to extend in-principle approval to loans of up to Rs 5 crore through the portal.
Financial Intelligence Unit slaps over Rs 15 cr fine on Punjab National Bank for violating money laundering rules
The FIU move against Punjab National Bank is significant because it is based on inspection and review of the Bank during April 2016-November 2017, which covers the crucial months before and after demonetisation that was announced on 8 November 2016
Indian Overseas Bank narrows net loss to Rs 342 cr in June quarter on lower provisioning for bad loans
State-owned Indian Overseas Bank (IOB) on Tuesday reported narrowing of its net losses to Rs 342.08 crore in the first quarter ended 30 June
Total income during the quarter was down at Rs 5,473.92 crore from Rs 5,814.42 crore in the year-ago period, the bank said in a regulatory filing
Public sector Indian Overseas Bank on Monday plans to raise about Rs 850 crore during the current financial year through the sale of non-core assets, to augment capital
SBI halves daily ATM withdrawal to Rs 20,000: The bank has done the right thing; the move will discourage use of cash
Banks in India must dismantle ATMs and simultaneously install more and more swiping machines for their trade customers. It will be a win-win for both.
Indian Overseas Bank's Q2 net loss narrows at Rs 487 cr on lower provisions; gross NPAs rise to 24.73%
In absolute terms, Indian Overseas Bank's gross NPAs rose to Rs 37,109.96 crore as on 30 September, 2018 from Rs 34,708.59 crore by September 2017
Hong Kong-based branches of Punjab National Bank and Indian Overseas Bank have been put under enhanced supervisory oversight and barred from proactively soliciting customer deposits by the Hong Kong Monetary Authority as the capital adequacy ratio of the two lenders fell below the regulatory requirements
CBI chargesheet in PNB fraud: Usha Ananthasubramanian may have facilitated the continuance of scam, but how did it begin in the first place?
The problem is that the PNB case is seen in isolation even now by investigators.
Under the new process, the RBI requires banks to figure out plans to resolve debts of defaulters with 20 billion rupees ($311 million) or more in outstanding debt by 1 September, or take them to bankruptcy court.
The bank is only “setting off” not “writing off” its losses.
Indian Overseas Bank (IOB) today reported widening of net loss to Rs 1,425.06 crore for the December quarter on the back of higher provisioning against bad loans.
It doesn’t make sense for the government to run banks for the simple reason that it doesn’t have the fiscal ability to continue feeding the capital-starved lenders
While clearing business was affected across the country, banks have fully stocked the ATM machines.
Normal life was affected in various parts of the country, including West Bengal, Tripura, Kerala and Karnataka, as 10 central trade unions went on a day-long nationwide strike on Wednesday to protest against changes in labour laws and privatisation of PSUs.
IOB, UCO Bank, Allahabad Bank suffered in trade as investors dumped the stocks on NPA concerns