The current employee strength of all state-run banks is about 672,000.
The report has identified 29 instances where it appears that the loans disbursed to borrowers were in turn utilised by their group companies to repay the existing debt obligations with IL&FS Financial Services Limited.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
Rating agency Moody's has placed 13 Indian banks, including State Bank of India, ICICI Bank and Punjab National Bank, on watch for possible downgrade under a global review of systemic support available for the banking sector.
Other members include former Central Bank of India chairman and managing director Homai A Daruwala, former bureaucrat of the Madhya Pradesh cadre Prashant Mehta and RGPPL's managing director R K Srivastav.
"We are already restructuring viable accounts, which are facing temporary cash flow problems," says S Sridhar, Chairman & MD, Central Bank of India.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
Amid slowdown blues, the government has unveiled a raft of measures over the past few months aimed at improving liquidity in the system, moderating interest rates as well as credit growth apart from addressing stress in the NBFC sector.
Public sector lender Union Bank of India on Tuesday announced interest rates for new home loans up to Rs 50 lakh at 8 per cent for one year.
The government is likely to infuse Rs 3,000 crore in seven public sector banks to shore up their Capital Adequacy Ratio (CAR) to 12 per cent to improve the market confidence in the banking sector.
They have also been accused of extending loans for criminal intent of falsification of repayment by a number of borrowers, including some entities associated with large corporate groups.
The bank has targeted to disburse an additional Rs 500 crore (Rs 5 billion) of home loans by April end with the introduction of the new scheme, a statement said in Mumbai on Thursday. Lending rates for loans between Rs 500,000 and Rs 20 lakhs would now be offered at eight per cent as against 9.25 per cent earlier, the bank said.
Insurer has also made fresh investments since December 2015 quarter when RBI told banks to recognise bad loans
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
The IL&FS group has a complicated structure, with the holding company owning stakes in its financial services arm as well as the subsidiaries that operate its infrastructure assets.
'The snakes and ladders game will continue till the consolidation process is complete simply because we don't know how bad the scene is, with some of the banks being merged,' says Tamal Bandyopadhyay.
Central Bank of India faces both the opportunities and challenges of any typical government owned bank but the issue price is reasonable.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
The Maoists stormed the Central Bank of India branch at Riga and injured its manager and a Home guard while attempting to loot cash from the chest, which they failed to break open, police sources said.
ICICI Bank, Union Bank of India, Central Bank of India and Dena Bank have all hiked interest rates on NRE and FCNR fixed deposits from January 1.
The Reserve Bank has asked the public to pay their income tax dues well in advance so as to avoid standing in long queues and stated that 29 agency banks are also authorised to accept such payments.
PNB reported the maximum number of such frauds.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
Shareholder advisory companies are raising eyebrows at the ICICI Bank board not being aware of Firstland's investment in NuPower
Bankruptcy proceedings are going at a slower pace than what the bankers had envisaged and many cases have gone beyond the 270-day timeline set under the IBC mainly because of litigation.
12 banks have been authorised to receive such donations to the Prime Minister's National Relief Fund.
Rich flow of funds has made Dharmaj one of the richest and most literate villages not only in the state but across the country
Gross non-performing assets of public sector banks surged to 9.32 per cent (Rs 4.76 lakh crore) of advances in 2015-16, from 5.43 per cent (Rs 2.67 lakh crore) in 2014-15.
While State Bank of India with $78.88 billion in assets was among top 30 largest banks in Asia, Corporation Bank emerged as second strongest bank in the region, based on seven crucial financial parameters.
Agency sources said that besides Mallya, his companies Kingfisher Airlines and United Breweries Holdings Limited have been named as accused in the FIR.
Electing Union Bank of India chairman V Leeladhar as the new chief, the Indian Banks Association on Thursday said it has constituted a committee to draw up a long-term perspective 'Vision Plan' for the banking industry.
After upgrading India's foreign currency debt rating, Moody's Investor Service on Wednesday upgraded the foreign currency deposit, debt and issuer ratings for 11 Indian banks and financial institutions.
Central Bank of India on Wednesday cut the benchmark prime lending rate by 0.5 per cent to 11 per cent and slashed the interest rate for agri and SSI loans, while offering higher returns on savings of senior citizens.
All India Bank Employees Association general secretary and a leader of the bank union movement Tarakeswar Chakraborty died of a heart attack last night, family sources said.
