The CBI has shared its findings with the Enforcement Directorate.
There is churning at the top in IDBI Bank's two group entities.
Paying for facilities like issuance of demand drafts, cheque books, credit or debit cards and ATM interchange may soon become passe as public sector lender IDBI Bank on Wednesday waived-off all service charges on current and savings accounts (CASA), the first by any bank.
The government has asked the Indian Banks' Association to make sure that IDBI Bank's wages are on a par with other banks.
Cleaner balance sheets, regulatory support and strong growth prospects helped Indian private banks attract over $6 billion in foreign capital, with more deals expected in 2026.
IDBI Bank's acting chief executive officer and country head of retail banking Ajay Bimbhet has resigned.\n\n\n\n
In a first, the government has made it mandatory for interested buyers of IDBI Bank to provide details for security clearance from the Ministry of Home Affairs (MHA) in the first stage of the bidding process. So far, in all instances of CPSE privatisation, the government would seek details regarding security clearance of the bidders at the second stage of the bidding process. This meant that bidders who qualified in the first or the Expression of Interest (EoI) round, were required to seek security clearance from the government while placing their financial bids.
But selectively, with regulatory scrutiny and special approval, points out Tamal Bandyopadhyay.
Opening up the corner office is fine, but will the government be able to attract talent without giving a market-rate salary?, asks Tamal Bandyopadhyay.
The Supreme Court granted bail to Arvind Dham in a money laundering case, emphasizing that prolonged incarceration without trial violates the right to a speedy trial under Article 21 of the Constitution.
Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
The bank expects to grow loan book by 10 per cent in the current financial year with calibrated exposure to corporate accounts and thrust on the retail segment.
The investigating agency is examining the documents.
The Indian government has appointed Finance Secretary Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India (SEBI). Pandey, a 1987-batch IAS officer, will replace Madhabi Puri Buch, whose three-year tenure ends on February 28. Pandey's appointment comes at a time when the markets are experiencing bear pressure due to withdrawals by foreign institutional investors (FIIs). Pandey has extensive experience in the finance ministry, having served as the longest-serving secretary in the Department of Investment and Public Asset Management (DIPAM) and the Department of Public Enterprises (DPE). He also played a key role in the framing of the 2025-26 Budget and the drafting of the new Income Tax Bill. Pandey's appointment is for an initial period of three years.
The government is finalising appointment of at least nine public sector bank chiefs and a dozen executive directors who would replace them or fill existing vacancies.
Seasoned bureaucrat and a stickler for rules Finance Secretary Tuhin Kanta Pandey will be at the helm of capital market regulator, Securities and Exchange Board of India (SEBI), for three years. The 1987-batch Odisha-cadre Indian Administrative Service (IAS) officer, Pandey, would replace Madhabi Puri Buch, whose three-year term ends on Friday.
PSB may get its first non-Sikh at the helm, vigilance clearances are awaited.
While making online purchases, the cardholder will have to use this second verification apart from the card verification value number, which is the main saftey parameter used presently. As per the RBI guidelines, customers will have to register their cards from tomorrow onwards with the respective merchants--Visa or Master Card and create a security password.
Sources said Mallya has also been asked to furnish documents related to his personal finances
The liquidity in the banking system could ease in the coming week due to an increase in government spending - a development that would be the key for the Reserve Bank of India (RBI) to decide whether to extend the incremental cash reserve ratio (I-CRR) mandate for banks. There are signs of improvement in the liquidity scenario as banks parked Rs 25, 833 crore with the RBI on Thursday. Market participants expect liquidity to gradually improve by the end of the month or during the first week of September, aided by government spending.
A debit card with a credit limit works like an overdraft facility. Use it only for small expenses.
These recommendations are based on interactions held by the Banks Board Bureau with eligible candidates from PSBs towards appointment against vacancies in PSBs for the period 2018-19
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
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.
Govt renews search for five PSU bank chiefs; norms relaxed.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
The agency has stated in detail in the charge sheet how funds of about Rs 400 crore were moved abroad in alleged violation of rules.
A host of lenders, including State Bank of India, IDBI Bank, Indian Bank and Andhra Bank, have lined up meetings of their asset-liability committees this week, to review their lending and deposit rates.
Industrial Development Bank of India plans to raise Rs 2,500 crore (Rs 25 billion) through a flexibond issue with a greenshoe option of the same amount.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
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.
Lenders in India, comprising banks and finance companies, anticipate robust growth in retail credit during the upcoming festival season, stretching from September to December 2023. This expectation is based on resilient demand, government initiatives, and elections in key states.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
United Bank's exposure to Kingfisher Airlines was around Rs 350 crore (Rs 3.50 billion)
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.
The Indian rupee, which has depreciated 1.1 per cent so far in August, is expected to decline further on the back of a strengthening US dollar and a weakening Chinese yuan, according to a Business Standard poll of analysts. The Indian rupee hit an all-time low recently, closing at 83.15 per dollar. Five of the 10 respondents said the Indian currency might touch 83.5 per dollar in August itself, while others said the worst could be over.
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