The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
Capital infusion seen necessary for banks to maintain regulatory norms at the time of paying interest towards AT-1 bonds
West Bengal Chief Minister Mamata Banerjee's maiden visit to the financial capital Mumbai drew an enthusiastic response from India Inc with industry captains queuing up to attend the meeting called by her.
12 banks have been authorised to receive such donations to the Prime Minister's National Relief Fund.
PSBs were required to bring down government shareholding to at least 75 per cent, to comply with the amended Securities Contract (Regulations) Rules by August 2017.
Four regionally strong banks -- Bank of India, Corporation Bank, Allahabad Bank and Oriental Bank of Commerce -- are in the fray to buy out sponsor's stake in UTI Mutual Fund that manages assets worth Rs 20,000 crore
The scrip of private airlines, Jet Airways, has been included in the BSE-200 index while that of Polaris Software has been excluded from the IT and Tech index with effect from June 6.
Since January this year, RBI has cut the repo rate - at which it lends to commercial banks -- to a gross of 1.25 per cent.
Interest rate and tenure are not the only two factors to consider.
To begin with, there would be the immediate integration of various technology stacks. This would create more business for global consulting and IT services entities such as KPMG, PwC, EY, Accenture and IBM, among others. Indian service providers - Infosys, Tata Consultancy Services (TCS), and Wipro, for instance - would also cash in.
Bank unions - officers and workmen - had buried their differences and sat across the table on August 29 to work out a fresh deal with the IBA involving a 20 per cent wage hike.
At least five state-run banks on central bank's radar for lax credit appraisal
Central Bank of India's 21.5 per cent assets are either bad or have been restructured.
Sitharaman said the government understands that the contours and tone of issues for each sector varied from one to the other.
Upgradation to the new product (from Infosys) will stabilise by this month-end
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
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.
The capital infusion would help improve the financial health of banks. While some banks would get necessary regulatory capital while others would get it for fueling growth.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
The entrance examination to the MBBS course in medical colleges of Uttar Pradesh was canceled on Sunday following leakage of the papers in Ghaziabad. The papers were allegedly leaked out from two nationalized banks where the papers were kept in the safe deposit vault (strong room).
Insurer has also made fresh investments since December 2015 quarter when RBI told banks to recognise bad loans
Former India football captain Shabbir Ali suffered a massive heart attack on Monday. Brought in in critical condition, he has been kept under "artificial machine support" at a local hospital in Kolkata.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
The 17-lender consortium, led by State Bank of India had put on auction the property with a reserve price of Rs 115 crore, which was 15% less than the second auction of the property held in August
With the entire fraud amount becoming a non-performing asset, around 25 per cent of the bank's estimated net worth of Rs 40,000 crore could be affected.
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.
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The penalty was levied in connection with deficiencies and lapses in the operation and maintenance of the currency chest at the Secunderabad branch of SBI, it said. Last month, the RBI had imposed a penalty of Rs 3 crore (Rs 30 million) on SBI for violating know your customer/anti-money laundering norms.
Modi, 46, who had figured in the Forbes' list of richest Indians, has been named in the cheating case on a complaint from the PNB, which alleged that the jewellery firm owner, his brother, wife and Choksi entered into a criminal conspiracy with the officials of the bank and cheated it, causing a "wrongful loss".
'...Rs 137 lakh crores of people's money?' 'It is not the government's money, it is people's money.'
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
Even under the RTI response, all public sectors banks have washed their hands of any responsibility.
The issuance of NBWs by a court also opens door of seeking Red Corner notices against both of the accused from the Interpol.
