Frauds worth Rs 11,022 crore detected in PSU banks

PSU banks have reported over 2,100 fraud cases involving a sum of Rs 11,022 crore (Rs 110.22 billion) in the first nine months of the ongoing fiscal, with PNB reporting the maximum number of such......

UBI asks Mallya, Kingfisher directors to appear on July 9

United Bank of India has asked Vijay Mallya and three other directors of grounded Kingfisher Airlines to appear before a panel of the bank at the head office in Kolkata on July 9. "The recovery......

No cut in lending rates: Bankers

Ruling out a cut in lending rates, bankers said the status quo policy stance of the Reserve Bank will be followed by them, at least in the near-term. "The bimonthly monetary policy came in on......

Chidambaram for merger of banks to create 2-3 global entities

Finance Minister P Chidambaram on Monday favoured mergers in the banking industry so that India can have two-three global sized banks. "There are other sectors that may well need restructuring.........