The Indian Overseas Bank has hiked interest rates on non-resident external term deposits with effect from April 1, 2005.
The finance minister also said that the merger would not result in any retrenchment but rather improve the benefit of the employees.
In another match in the MCC Murugappa hockey tournament, ASC routed Mumbai XI 7-4.
Vikram Kothari took a loan of Rs 485 crore from Mumbai-based Union Bank of India and a loan of Rs 352 crore from Kolkata-based Allahabad Bank. A year later, Kothari has reportedly not paid back either the interest or the loan.
The financial position of India's public sector banks (PSBs) has deteriorated sharply over the past financial year.
This shortfall could continue to hurt loan growth in 2016-17.
Indian Overseas Bank will hit the capital market on September 5 with its Rs 240 crore (Rs 2.4 billion) public offer priced at Rs 24 per share, its chairman S C Gupta said in New Delhi on Friday.
Infrastructure and real estate prominently feature as wealth destroyers.
A series of failed loan recast programmes continues to haunt banks.
Central Bank of India's 21.5 per cent assets are either bad or have been restructured.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In a ruling in May, a UK high court judge had refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the consortium of 13 Indian banks were entitled to recover funds amounting to nearly 1.145 billion pounds.
Upgradation to the new product (from Infosys) will stabilise by this month-end
Sitharaman said the government understands that the contours and tone of issues for each sector varied from one to the other.
Publicly traded banks in India added Rs 1 trillion in bad loans for the quarter ending December 31, 2015.
Move comes after the country's monetary authority tightened credit norms
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 court ruled that an interim debt order in favour of SBI and other banks seeking access to funds in the Mallya's ICICI UK bank account "should remain in force" but the application to make it final should be adjourned until after the hearing of his pending bankruptcy petition.
As public sector bank employees started a two-day strike on Monday seeking higher wages, Finance Minister P Chidambaram said the profit of banks cannot be used only to enhance salaries because there are other obligations.
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
That's the government's goal for the Unified Payment Interface by March. Are they close? A P Hota, the man at the helm, answers.
Moody's Investors Service on Thursday downgraded subordinated debt ratings of 11 Indian banks, including SBI, ICICI Bank and HDFC Bank.
While Raghunathan is a named accused in the CBI's case registered in October last year, Nedungadi had resigned recently from the post of CFO of the UB group.
'The PSBs ended up recording Rs 7,709 crore losses in the March quarter compared to the Rs 11,688 crore profits of their private peers,' reveals Tamal Bandyopadhyay.
The RBI's bi-monthly policy review on June 3 will be the first after Prime Minister Narendra Modi assumed office on May 26.
Loans make money for the lender in the initial years but losses come later when they turn bad.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
Judge Andrew Henshaw refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to nearly $1.55 billion.
Experts interviewed CMDs of nine public sector banks on Friday and Kamath is believed to be in the reckoning
The department of financial services has decided to give banks commission, to ensure these accounts are kept active.
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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.
Paramount Airlines had started its operations in 2005 and was flying to southern and eastern parts of India before it wound up 2010.
Oil and Natural Gas Corporation, Hindalco Industries, Tata Steel and Vedanta were down up to 70 per cent below their one-year highs.
Mid-cap and small-cap stocks on the BSE were on the buyers' radar on Tuesday as investors booked profits in large-cap shares and the benchmark Sensex fell 264.57 points from a record close.
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.
Agency sources said that besides Mallya, his companies Kingfisher Airlines and United Breweries Holdings Limited have been named as accused in the FIR.
Banks have issues with their balance sheet profiles, say PSB executives.
Mallya is separately fighting extradition to India on fraud and money laundering charges worth an estimated Rs 9,000 crore
