Prompt Corrective-action

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Prompt Corrective-action - Total results - 41
Lakshmi Vilas Bank independent director resigns citing personal reasons, move comes days after RBI action against lender
Business

Lakshmi Vilas Bank independent director resigns citing personal reasons, move comes days after RBI action against lender

Earlier this week on Monday, Indiabulls Housing Finance had said that the RBI's action against it would not impact its merger with Lakshmi Vilas Bank.

Lakshmi Vilas Bank shares drop 5% to hit lower circuit; Indiabulls Housing plunges over 30%
Business

Lakshmi Vilas Bank shares drop 5% to hit lower circuit; Indiabulls Housing plunges over 30%

Lakshmi Vilas Bank shares tumbled about 5 percent on Monday to hit its lower circuit limit after the Reserve Bank initiated a prompt corrective action plan against the lender due to high level of bad loans

More than Rs 1,00,000 cr is waiting to enter Narendra Modi govt’s wallet if it bites PSB privatisation bullet; timing is never better
Business

More than Rs 1,00,000 cr is waiting to enter Narendra Modi govt’s wallet if it bites PSB privatisation bullet; timing is never better

Privatisation of government banks doesn’t mean the government will have to give away control over these institutions for the roll-out of social sector programmes

FinMin assessing capital needs of PSU banks; Budget 2019-20 may make provision for Rs 30,000 cr
Business

FinMin assessing capital needs of PSU banks; Budget 2019-20 may make provision for Rs 30,000 cr

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.

BoB, Dena and Vijaya Bank merger: India’s third-largest lender is here, but does this exercise make real sense?
Business

BoB, Dena and Vijaya Bank merger: India’s third-largest lender is here, but does this exercise make real sense?

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

Arun Jaitley hopes more banks will exit RBI's PCA framework with govt funding support
Business

Arun Jaitley hopes more banks will exit RBI's PCA framework with govt funding support

Finance Minister Arun Jaitley on Thursday assured government funding support to public sector banks and hoped that the 6 lenders which remain under the RBI's prompt corrective action framework will soon come out of it

Corporation Bank, Allahabad Bank, Dhanlaxmi Bank shares jump up to 10% as RBI lifts lending curbs
Business

Corporation Bank, Allahabad Bank, Dhanlaxmi Bank shares jump up to 10% as RBI lifts lending curbs

Shares of Corporation Bank, Allahabad Bank and Dhanlaxmi Bank rose sharply by up to 10.10 percent Wednesday after the RBI lifted lending curbs on these lenders by removing them from its weak-bank watchlist

Allahabad, Corporation, Dhanlaxmi Bank out of RBI's prompt corrective action framework
Business

Allahabad, Corporation, Dhanlaxmi Bank out of RBI's prompt corrective action framework

The RBI on Tuesday lifted lending curbs on two more public sector banks (PSBs), Allahabad Bank and Corporation Bank, by removing them from its weak-bank watch list

Finance ministry expects three to four more lenders to come out of Reserve Bank's PCA framework this year
Business

Finance ministry expects three to four more lenders to come out of Reserve Bank's PCA framework this year

The recent capital infusion of Rs 48,239 crore in 12 PSBs will help Corporation Bank and Allahabad Bank to come out of the PCA framework in the next few weeks

Shares of state-run banks jump after government announces fund infusion as part of recapitalisation programme
Business

Shares of state-run banks jump after government announces fund infusion as part of recapitalisation programme

Shares of India’s state-run banks jumped on Thursday, a day after the government said it will inject 482.39 billion rupees ($6.79 billion) into some lenders

Banks expect liquidity to remain tight in Q4 despite slight improvement in the situation: Survey
Business

Banks expect liquidity to remain tight in Q4 despite slight improvement in the situation: Survey

The liquidity scenario remained in deficit in the third quarter of 2018-19, the survey of 23 banks from public, private, foreign and small finance segments said.

LIC completes acquisition of 51 percent stake in IDBI Bank; insurer to have strategic investment in large bancassurance channel
Business

LIC completes acquisition of 51 percent stake in IDBI Bank; insurer to have strategic investment in large bancassurance channel

IDBI Bank Monday said insurance behemoth LIC has completed the acquisition of 51 percent controlling stake in the bank

Some better performing banks likely to be out of PCA framework in next few months: Financial services secretary
Business

Some better performing banks likely to be out of PCA framework in next few months: Financial services secretary

Eleven out of the total 21 public sector banks are under the central bank's PCA framework

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

NPAs of PSU banks decline by over 23,000 cr in H1 FY19; lenders make record in recovery of Rs 60,726 crore: Official
Business

NPAs of PSU banks decline by over 23,000 cr in H1 FY19; lenders make record in recovery of Rs 60,726 crore: Official

Gross non-performing assets (NPAs) of PSBs have started declining after peaking in March 2018, registering a decline of Rs 23,860 crore

Indian economy in 2018 has seen its heroes and villains: What does 2019 hold for us?
Business

Indian economy in 2018 has seen its heroes and villains: What does 2019 hold for us?

Banking sector mess continued to dominate the Indian economy in 2018. At least eleven public sector banks continue to be under the prompt corrective action plan of the RBI

Shaktikanta Das is new head of RBI: Will former bureaucrat be able to get central bank, govt on same page?
Business

Shaktikanta Das is new head of RBI: Will former bureaucrat be able to get central bank, govt on same page?

Shaktikanta Das worked with the government and hence knows how the machinery works which is very important at a time when there is constant dialogue needed between the Central bank and the Finance Ministry.

Markets shun concerns of RBI governor Urjit Patel’s resignation, BJP’s election debacle in key states: Experts
Business

Markets shun concerns of RBI governor Urjit Patel’s resignation, BJP’s election debacle in key states: Experts

Markets initially plunged in reaction to Reserve Bank of India governor Urjit Patel’s unexpected resignation on Monday, which shocked many investors.

Urjit Patel resignation: The vigilant owl flies out in protest, as the nest comes under attack
Business

Urjit Patel resignation: The vigilant owl flies out in protest, as the nest comes under attack

Urjit Patel succeeded Raghuram Rajan to the 19th floor corner office of the Mint Road, saw through the badly implemented demonetisation decision.

RBI delays discussing easing curbs facing 11 state-run banks despite government pressure to take a softer stance
Business

RBI delays discussing easing curbs facing 11 state-run banks despite government pressure to take a softer stance

The BFS is waiting for a detailed plan from RBI officials before it can submit recommendations to the central bank’s board