The High Court of Justice in London has rejected a fresh bail petition filed by diamantaire Nirav Modi, who is wanted in India in connection with the Rs 13,000 crore Punjab National Bank (PNB) fraud case.
Allahabad Bank on Monday opened its first overseas office in Shenzhen, a Chinese city near Hong Kong, hoping to tap trade and commercial linkages between the two Asian giants.
The bank is targeting a total network of 3,000 branches and business of Rs. 4 lakh crore in the next three years.
Punjab National Bank and Allahabad Bank plan a 60:40 joint venture in Kazakhstan at an initial investment of Rs 100 crore (Rs 1 billion) in the next two months.
Finance Minister Nirmala Sitharaman on Thursday said the country needs big and world-class banks, and discussions are on with the Reserve Bank and lenders in this regard.
Finance Minister Nirmala Sitharaman on Tuesday allayed apprehension that privatisation of state-owned banks would hurt financial inclusion and national interest. She said the bank nationalisation done in 1969 has not yielded the desired result as far as financial inclusion was concerned.
It further asked the government to make suitable arrangements for smooth functioning of the bank.
The Allahabad Bank-led, five-party venture for a non-life insurance company is expected to start operations by April-May 2007
She was the managing director and the CEO of PNB since August 14, 2015 before being appointed in Allahabad Bank on May 6, 2017.
Allahabad Bank said on Monday it plans to open branches in New Zealand and Australia in order to cater to the NRI population in these countries.
These 8 states emerged as the country's most-travelled destinations for local Indian visitors, according to Ministry Of Tourism's most recent statistics which are from 2024.
The 'Toshkhana' (treasury) of the Banke Bihari temple in Mathura, locked since 1971, was opened for inspection under the supervision of a Supreme Court-appointed committee. The inventory included copper coins, stones, silver and golden sticks.
A court in Antwerp on Friday cleared the extradition of fugitive diamantaire Mehul Choksi, noting that his arrest by the Belgian authorities on India's request was valid, officials in the know of the development said.
As we celebrate the 136th anniversary of Jawaharlal Nehru's birth, let's embark on a journey to places in India, and across the world, that had a connection with India's first prime minister.
The Supreme Court expressed displeasure over the Allahabad High Court's orders regarding the Banke Bihari Temple in Vrindavan, questioning the use of intemperate language against the Uttar Pradesh government and staying further proceedings.
The bail plea of fugitive diamonds trader Mehul Choksi, wanted in India in connection with over Rs 6300-crore fraud in the Punjab National Bank (PNB), has again been turned down by a court of appeal in Belgium, just ahead of his extradition hearing before a court in that country, officials said. The court rejected the appeal on strong reasons conveyed by the CBI to the Belgian prosecution that Choksi had escaped from many jurisdictions earlier as well to evade legal proceedings and may flee to another country if let out on bail, they said.
The committee said the Uttar Pradesh government did not file appeals against the high court's November 8, 2023 order and instead, an impleadment application was filed in the pending plea before the top court.
Observing an "unholy nexus" between the banks and developers to dupe homebuyers, the Supreme Court on Tuesday directed the CBI to register seven preliminary enquiries against builders in NCR, including Supertech Limited.
Mining conglomerate Vedanta on Friday beat Gautam Adani's Group to make a winning bid for the acquisition of debt-ridden Jaiprakash Associates (JAL) for Rs 17,000 crore, according to sources. The bid value translates into Jaiprakash Associates' net present value of Rs 12,505 crore.
Absconding diamond jeweller Mehul Choksi has been detained in Belgium following an extradition request by Indian probe agencies for his alleged involvement in the Rs 13,000 crore PNB bank loan 'fraud' case, official sources said Monday. The action against the diamantaire was taken on Saturday.
"I had said on the soil of Bahraich that glorification of foreign invaders should be stopped and that the national heroes must be honoured. And 1,000 years ago, such a tale of courage and bravery was written by Maharaja Suheldev on this very soil of Bahraich," Adityanath said.
The flag will be taken down on July 24, 2028, which will mark the conclusion of the Simhastha Kumbh Mela, which is held once in 12 years.
In 1911, French pilot Henri Pequet flew the world's first official airmail, carrying over 6,500 letters and postcards, during the Kumbh Mela in Allahabad, now Prayagraj. The flight, which covered five miles in 13 minutes, marked a significant milestone in aviation and postal history. The mail included letters to Jawaharlal Nehru and King George V, and special commemorative postcards signed by Pequet are now prized collector's items. The event, which coincided with the Kumbh Mela, highlights the intersection of spiritual and technological advancements in India's history.
RBI Governor Raghuram Rajan asked banks to follow suit and pass on the rate cuts.
In the biggest consolidation exercise in the banking space, the government on Friday announced four major mergers of public sector banks, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders global sized banks.
The Uttar Pradesh government has deployed two senior IAS officers, who were part of the team that successfully conducted the 2019 Ardh Kumbh, to oversee the smooth conduct of the Maha Kumbh Mela in the wake of the recent stampede that left at least 30 pilgrims dead. The officers, Ashish Goyal and Bhanu Chandra Goswami, have extensive experience in administration in Prayagraj, including crowd management and inter-agency coordination. They will join Mela Adhikari Vijay Kiran Anand, forming a trio that was part of the mega fair six years ago. The government has also deployed additional senior police officers to strengthen security and crowd management ahead of Basant Panchami, one of the key bathing days of the festival, on February 3.
... resulting in a Rs 2 trillion economic spinoff.
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
After removing three PSBs - BoI, Mahabank and OBC from the framework, RBI, on Tuesday, took out three commercial banks - Allahabad, Corporation and Dhanlaxmi from the said list.
Prayagraj is a must-visit place in 2025, but in January and February you can't miss the Maha Kumbh, a spectacular event like no other.
Bigger state-run banks such as Bank of Baroda, Punjab National Bank and Union Bank have also seen their bad loans rising in the December quarter.
Both Allahabad Bank and Canara Bank are in the race to acquire United Western Bank, UWB. C Mahajan, CMD of Allahabad Bank and MBN Rao, CMD of Canara Bank extrapolate on the benefits of taking over UWB. \n\n
As per the mega consolidation plan, Oriental Bank of Commerce and United Bank of India will merge into Punjab National Bank (PNB); Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into Indian Bank. Following this merger, PNB will become second largest after the SBI, Canara Bank fourth, Union Bank of India fifth and Indian Bank seventh biggest public sector lender.
This year, at least eight public sector banks are set to scrap their existing Bancassurance tie-ups with insurers. They are: Bank of India, Union Bank, Karnataka Bank, Allahabad Bank, Indian Overseas Bank, Bank of Maharashtra and Federal Bank.
More than a dozen corporates, including big names such as Aditya Birla Group, M&M, L&T, as well as state-owned PFC, LIC and India Post, are likely to apply to the Reserve Bank for licence to open banks.
The cases pertain to State Bank of India, Punjab National Bank, Andhra Bank, Oriental Bank of Commerce, Indian Overseas Bank, Allahabad Bank, Canara Bank, Dena Bank, Punjab and Sind Bank, Central Bank of India, Union Bank of India, IDBI Bank, Bank of Baroda, Bank of Maharashtra and Bank of India.
Lending rates have started rising after more than two years. Five banks have increased their benchmark lending rate -- or the base rate -- even as the country's largest lender, State Bank of India, decided to maintain status quo. All corporate and retail loan rates linked to the base rate will now go up.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances