Mega-merger of PSU banks on schedule: 6 banks cease to exist from today; experts say exercise will not be smooth, seamless
Experts said bank merger at this point of time will not be very smooth and seamless. However, heads of the anchor banks are exuding confidence.
Firstpost Editor's Picks: DK Shivakumar arrested, final NRC list in Assam, US Open 2019; today's must-read stories
Firstpost Editor's Picks: Congress leader DK Shivakumar arrested, Final NRC list excludes 19 lakh in Assam, Grigor Dimitrov in US Open 2019; today's must-read stories
Union Bank says lenders may be forced to convert half of their DHFL debt into equity, will be for short-term
DHFL has become the poster-boy of the NBFC crisis that afflicted the financial sector after the infra-lender IL&FS went belly up last September
For the full fiscal, Union Bank reported a net loss at Rs 2,948 crore as against Rs 5,247 crore in FY2018.
In its earlier resolution plan, NBCC offered 1,400 acre land worth Rs 6,000 crore as well as Yamuna Expressway to lenders.
PNB, Bank of Baroda, Union Bank, two other PSU lenders get capital infusion of Rs 21,428 crore from govt
The capital infusion will be by way of preferential allotment of equity shares of the bank during 2018-19, as government's investment, Bank of Baroda said
The Reserve Bank has imposed a monetary penalty of Rs 3 crore on Union Bank, Rs 2 crore on Dena Bank, and Rs 1 crore each on IDBI and the SBI for non-compliance with various directions, regulatory filings said on Saturday
Nirav Modi, 47, has been on the run since February after Indian authorities launched an investigation into his alleged involvement in a Rs 13,600 crore (US$1.8 billion) scam against the Punjab National Bank (PNB), the country's second-largest state-run lender.
ICICI Bank files insolvency plea against Jaiprakash Associates in NCLT; matter to be heard on 17 September
If NCLT allows the plea of the ICICI bank, then this will be the second company of the crisis hit Jaypee group facing insolvency.
RBI policy: If you're seeking auto, home loans, better hurry; the era of cheap money may soon be over
Interest rates are like to go up further if the RBI's MPC signals a hawkish stance on Wednesday
LoU can be likened to a general character certificate an applicant in the job market is expected to obtain from referees
What raises eyebrows is the absence of a similar regime for corporates like CIBIL who are by far the heaviest borrowers and defaulters.
Narendra Modi govt unveils big revival plan for ailing banks, to front-load Rs 1 lakh cr into PSBs this fiscal
The recapitalisation of banks would be accompanied by strong reforms package across six themes incorporating strong action points, an official statement said.
Maharashtra farm loan waiver: Prithviraj Chavan writes to Urjit Patel, seeks inquiry into lapses by banks
As Maharashtra's farm loan waiver increasingly comes under Opposition criticism and media scrutiny, Prithviraj Chavan has written to RBI Governor Urjit Patel.
Quarterly performance of these banks would be monitored by SBI Capital Markets
The first set of six troubled accounts are Bhushan Steel (Rs 44,478 cr), Essar Steel (Rs 37,284 cr), Bhusan Power and Steel (Rs 37,248 cr), Alok Industries (Rs 22,075 cr), Amtek Auto (Rs 14,074 cr) and Monnet Ispat (Rs 12,115 cr), a banker said.
The attempt closely resembled the cyber theft last year of more than $81 million from the Bangladesh central bank's account at the New York Federal Reserve.
It said as part of their conspiracy, they allegedly exchanged old notes to the tune of Rs 1.17 crore with the new currency issued by the Reserve Bank of India.
Jaitley should take note that bank lending growth slowing to 19 year lows is real too and reflect what is going on at the ground in the economy