M Gopalakrishnan and two others are sentenced to one-year imprisonment for causing wrongful loss of Rs 3 crore to the bank.
Data centres are increasingly becoming a key part of the real estate landscape, as reality firms - with rich expertise in land acquisition, construction and dealing with government approvals - are seeing them as opportunities to build long-term assets with continuous revenue flow.
For the first time, PSU banks will have a non-executive chairman, giving operational responsibility to managing director and chief executive officer.
Bankers' committee suggests banks lend to meritorious students without collateral.
Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday said the central bank has developed an innovative artificial intelligence and machine learning (AI/ML) based model MuleHunter.ai to address the growing issue of mule bank accounts that are often used for committing financial fraud. Developed by the Reserve Bank Innovation Hub, the new initiative is piloted with two public sector banks.
Recovering from an order dry-up and change in market conditions, Gurgaon-based Rites is looking to bid aggressively in global export and consultancy tenders and run with a volume-led approach, its chairman and managing director (CMD) Rahul Mithal said. Rites is a railway consultancy public sector undertaking (PSU) under the aegis of the Ministry of Railways. "We started the year with two huge challenges - the export order book, where no new orders had happened, and the opening up of Indian Railways quality assurance works to four players.
It further asked the government to make suitable arrangements for smooth functioning of the bank.
His statement assumes significance in the light of scams in the state-owned banks.
The move to make the appointment process more robust comes after last month's arrest of S K Jain, chairman and managing director of Syndicate Bank last month, over graft charges.
In FY23, the State Bank of India (SBI) reported a 57.4 per cent jump in its net profit to Rs 55,684.17 crore. But the chairman of the country's largest bank, Dinesh Khara's annual pay for this creditable performance was just Rs 37 lakh (his peers at state-run banks are no better off). Look at his private bank rivals - most pocketed in excess of Rs 7 crore annually - plus stock options.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
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Banks had a tough time in recovering loans from corporates in 2014.
Many from this small lender have made it to other bank boards over the past 5 years
Coming out of its self-imposed shell, Union Bank of India, the fifth largest public sector bank in the country, is moving forward to opening branches overseas. The bank has over 2,000 branches across India, but no branch overseas.
As many as 6,801 cases of fraud were reported by scheduled commercial banks and select financial institutions involving an amount of Rs 71,542.93 crore in the last fiscal.
The candidate will be expected to have at least two to three years of remaining service.
As an employee it helps to the dos and don'ts of your job profile.
The incidence of corruption cases can be checked to a large extent if the suggestions already available with RBI and the government are taken seriously, says Shyamal Majumdar.
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
Move to hasten rollout and, if successful, set a precedent for new banking firms.
Ananthasubramanian, 55, started her career in 1982 at Bank of Baroda as a specialist officer in the planning stream.
The Bank Economists' Conference -- the most important event in Indian banking -- gets underway in Bangalore on Friday.
In addition, both will offer services jointly, subject to financial viability.
Walmart CEO Douglas McMillon came first in the CEOWORLD magazine's global ranking of the best chief executives across all industries for 2019.
Total export from India is expected to register 10 per cent growth during 2010-11, with all sectors including textile showing a revival, top official of Export-Import Bank of India said.
The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
Experts interviewed CMDs of nine public sector banks on Friday and Kamath is believed to be in the reckoning
CVC K V Chowdary and Vigilance Commissioner T M Bhasin completed their tenure at the anti-graft body on Sunday and Monday respectively.
ICICI Bank on Tuesday slashed home loan rate for both existing as well as new borrowers by 0.25 per cent.
PNB is fully committed to its clean banking policy. That is why we are the first one to detect and report this to the various law enforcement agencies," PNB's CMD Sunil Mehta said on Thursday.
This is one of the many such cases that helped to create an acute fear psychosis among public sector bankers, reveals Tamal Bandyopadhyay in his fascinating new book Pandemonium: The Great Indian Banking Tragedy.
India Inc has pitched for rate cut to boost economic activities.
The Reserve Bank is unlikely to lower the interest rates.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
The agency has registered the FIR after a preliminary enquiry on a complaint from the oil ministry.
IndiGo Airlines signs $2.6-billion leasing and financing MoU with Industrial and Commercial Bank of China.
Prime Minister Narendra Modi is set to meet top Australian business leaders, including BHP Billiton CEO Andrew Mackenzie and HSBC Bank Australia CEO Tony Cripps, at a roundtable in Melbourne next week.
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