The post of chairman and managing director has been split and the government has appointed managing directors and chief executive officers in four banks -- Indian Overseas Bank, United Bank of India, Oriental Bank of Commerce and Vijaya Bank.
Banks and builders are offering lower rates and freebies, but there is also a case for price correction in the future. Wait, if you are not desperate.
RBI had asked banks to price fixed rate loans of up to three years based on marginal cost of funds from April 1
State Bank of India bought 3,26,330 equity shares of Discount and Finance House of India Ltd at Rs 320 per share from Dena Bank and Oriental Bank of Commerce, raising its stake in DFHI to 51 per cent.
The interim finance minister said the Insolvency and Bankruptcy Code was helping in recovery of non-performing loans.
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.
Banks have not raised interest rates following the September review of credit policy.
The posts of Chairman and MD in the private sector are held separately.
The government has initiated a forensic audit at the state-run Oriental Bank of Commerce and Dena Bank after unearthing of a suspected scam, wherein the lenders allegedly misappropriated funds worth Rs 436 crore from their fixed deposit customers.
The two Indian banks will make available their combined network of 3,600 branches and a customer base of 40 million.
As many as 142 stocks from the S&P BSE500 index are currently trading below their level of May 12, 2014
'Under Modi Ji's 'Jan Dhan Loot Yojana', another scam!' he tweeted.
The boards of three PSU banks - Bank of Baroda, Oriental Bank of Commerce and Andhra Bank met in deference to the Finance Ministry's insistence, but quite unexpectedly they did not roll back the rate hikes announced last week.
Total scam in collusion with middlemen is estimated at over Rs 700 crore. Probe is on in 10 more cases.
At present, the rates on term deposits are as high as 10 per cent for some maturities. For instance, Karur Vyasa Bank and Federal Bank are offering 10 and 9.6 per cent for one-year term deposits.
The candidate will be expected to have at least two to three years of remaining service.
A new wave of e-trading in partnerships with private broking houses is getting popular with banks in recent times.
Govt renews search for five PSU bank chiefs; norms relaxed.
With even kiranas now entitled to perform a few banking functions, telcos can be allowed to transfer funds - customers trust them enough to pay crores of rupees in pre-paid revenues.
Foreign banking major Standard Chartered Bank has tied up with Oriental Bank of Commerce for providing agency trade services to Indian importers.
Giving another boost to the great Indian growth story, seven domestic firms have been named as the emerging global challengers to the world's leading blue chips by the global equity research major Standard and Poor's.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
Bankers see stable interest rates in near future but are worried about the spiralling global oil prices that is exerting pressure on domestic prices and exchange rate.
Oriental Bank of Commerce, which acquired Global Trust Bank last year, has filed 30 first information reports against GTB defaulters to recover Rs 1,300 crore (Rs 13 billion) of bad loans.
Central Bureau of Investigation is probing 10 companies, which have defrauded the erstwhile Global Trust Bank, which became sick due to mounting bad debts of over Rs 1,400 crore (Rs 14 billion) and was taken over by Oriental Bank of Commerce in 2004.
Oriental Bank of Commerce is set to carry out a major manpower restructuring especially at the acquired Global Trust Bank unit, after it gets a report from National Institute of Bank Management.
The Oriental Bank of Commerce has tied up with Infosys and Wipro for centralised banking solutions to provide customers with "anywhere anytime" services.
Oriental Bank of Commerce will shortly hire an international consultant to restructure and integrate the failed Global Trust Bank with itself by this fiscal end.
After consolidating its foothold in south India through the acquisition of Global Trust Bank, Delhi-based Oriental Bank of Commerce.
Even under the RTI response, all public sectors banks have washed their hands of any responsibility.
Shonkh Technologies International said on Tuesday its dealings with erstwhile Global Trust Bank did not involve any criminality on its part.
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