Joy Thomas stated that one large account -- HDIL -- was the sole reason for the present crisis that led to the regulatory action on Tuesday when Reserve Bank of India superseded its management and placed it under an administrator for the next six months.
Nuclear Power Corporation of India has said that a large number of International Banks have given commitment to finance the proposed Jaitapur nuclear power project in coastal Maharashtra.
Fair trade regulator CCI has approved private sector lender Ratnakar Bank' proposal to buy Royal Bank of Scotland's credit card business, mortgage portfolio and banking operation in the country, saying the deal will not have an adverse impact on competition.
As a fallout of the dissolution of the administrative board of Maharashtra State Co-operative Bank by the Reserve Bank of India, the Nationalist Congress Party is eager to teach its ally, Congress, a lesson.
According to RBI sources, some banks had extended credit to existing borrowers to repay their debt, known as evergreening of loans in banking parlance.
'It is human nature to get angry and annoyed when you are inconvenienced.' 'But we were able to enroll a few of our customers as 'bank mitras', who with my staff made sure that the queues were orderly and coupons were given to all the customers who wanted to withdraw or deposit money.'
Prime Minister Narendra Modi on Friday inaugurated the Rs 17,840 crore Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu, the longest bridge as well as the longest sea bridge in the country connecting south Mumbai with Nhava-Sheva in Navi Mumbai.
The Indian National Developmental Inclusive Alliance (INDIA) parties, led by the Congress, staged a walkout from both Houses of Parliament on Wednesday, in protest against all states except two being 'ignored' in the budget, an allegation termed 'outrageous' by Finance Minister Nirmala Sitharamanm, who said all the states never found a mention in any of the previous budgets, including those presented by the Congress.
While some states like Kerala and Telangana were badly hit by the strike, the impact was partial in Punjab, Haryana and Maharashtra
Banks cannot shirk their responsibility in cases of frauds.
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.
Tamil Nadu's finances most stressed, with gross fiscal deficit estimated at Rs 31,830 crore.
I challenge the thief to come out on the field with a bow and arrow and we will counter it with a flaming torch, Thackeray said.
They were arrested with the 'cooperation of district authorities of Satara on the strength of Non-bailable Warrant of Arrest issued by the Court of Special Judge, CBI Cases, City Sessions Court, Mumbai', CBI spokesperson R K Gaur said in New Delhi.
Congress President and Leader of the Opposition in Rajya Sabha Mallikarjun Kharge on Wednesday questioned Union Finance Minister Nirmala Sitharaman over the Union Budget and claimed that the plates of all states except Bihar and Andhra Pradesh were empty in the budget allocation.
Images that should keep you grinning for days on end.
Thomas Ninad's bank account was defrauded of Rs 14 lakh under mysterious circumstances.
Non-performing assets of banks have been on the rise for past several months due to slowdown in the economy.
NBFCs are allowed to include registration, stamp duty
To keep their MLAs together, political parties are organising dinner meetings and arranging hotel stays for them ahead of the council elections, which are taking place just three months ahead of the assembly polls in the state.
The RBI on Friday imposed a fine of Rs 6.5 crore (Rs 65 million) on six public sector banks including IDBI Bank, Dena Bank and Indian Bank, for violation of customer identification or KYC norms and anti-money laundering guidelines.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
Flipkart's hyper-value e-commerce platform Shopsy is intensifying efforts to tap over half of the 821 million internet users (about 442 million) in rural India. These efforts are being led by Prathyusha Agarwal, who recently joined as business head at Shopsy. The aim is to become the go-to destination for consumers seeking entry-level products across various categories.
'I am shocked that the BJP makes so many commitments. What did they deliver as the NDA?'
Quarterly earnings from corporates, the US Fed interest rate decision and other global trends will be the major driving factors for determining movement in the domestic equity market in a holiday-shortened week ahead, analysts said. Besides, factors like trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also influence trading.
Move to help India Inc access funds in the absence of foreign funds.
Under the Goods and Services Tax, effective midnight of June 30, most of the financial services would attract a higher tax of 18 per cent as against 15 per cent as of now.
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Bank stocks have underperformed in the second quarter of FY'14 with the BSE Bankex declining 18 per cent compared to fall of 1 per cent in the BSE 30-stock index, Sensex, during this period.
'The BJP will not win a single seat in Punjab.'
Apart from Gujarat, Shah claimed that co-operative movement is still active in many other states, such as Maharashtra, Karnataka and Rajasthan.
Analysts say loan growth, Casa ratio and exposure to sectors under pressure did not indicate any stress at United Bank.
Bank of India, Canara Bank, Dena Bank, Corporation Bank and Andhra Bank are among the lenders that received capital infusion from the government.
To manage anxious crowds, as many as 3,400 personnel of paramilitary and Delhi Police along with 200 quick reaction teams have been deployed at ATMs and banks.
There were instances of 'rasta roko' at various places in rural Maharashtra
Thackeray had addressed the audience as his deshbhakt and deshpremi brothers and sisters" instead of the traditional invocation of "Hindu brothers and sisters" at the Shivaji Park gathering in Mumbai.
According to a government reply in Lok Sabha, as on June 30, 2017, there were about 109,598 cases pending across debts recovery tribunals, with recovery dues of Rs 635,500 crore.
Speaking at the Congress manifesto launch programme, Gandhi said it is a much closer contest than what is propagated by the media, and expressed confidence in winning the polls.
'INDIA will easily cross 50 seats out of 90 in Jammu and Kashmir.'
'During times of adversity, a brick becomes better than a stone. That is how I look at the election season.'
Replying to a query in Rajya Sabha, Finance Minister Nirmala Sitharaman said there was no delay by the Centre in taking action after identification of fraud by the State Bank of India following the forensic report from Ernst & Young.
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