The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.
With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
Favourites Indian Oil retained the Beighton Cup hockey title, outplaying Punjab National Bank (PNB) 5-2 in the title clash in Kolkata on Sunday.
Punjab National Bank Chairman and Managing Director K C Chakraborty has emerged as the frontrunner for the post of the fourth deputy governor of the Reserve Bank of India (RBI).
The country's largest lender SBI will levy charges for cash withdrawal beyond four free transactions in a month from customers holding the basic savings bank deposit (BSBD) accounts. These customers will also be levied charges for cheque book beyond 10 leaves in a year. As per the revision in service charges for BSBD accounts, State Bank of India (SBI) will levy charges ranging from Rs 15 to Rs 75 for the "additional value added services" with effect from July 1, 2021.
Shunning the idea of making quick money in stocks like gamblers, Punjab National Bank chief K C Chakrabarty has said that the bank's profit would rise by 20 per cent even in the current fiscal.
12 banks have been authorised to receive such donations to the Prime Minister's National Relief Fund.
Capital infusion of $30 bn over two years needed amid high dividend payouts and impairment ratios.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
The Essar group, Jindal Steel and Power, Monnet Ispat, Bhushan Steel and the Avantha group have been asked to close deals by March-end.
Dominica high court on Thursday adjourned the hearing on a habeas corpus petition filed on behalf of diamond trader Mehul Choksi, local media reported. Judge Bernie Stephenson will decide the next date of hearing after meeting both sides, Antigua News Room said. The adjournment is to allow lawyers for Choksi and the Dominica government "to agree on the language to be used with respect to the injunction filed to prevent his removal from Dominica", the media outlet reported.
Sample this. Five cyber-thieves, allegedly part of a network that hacked into the account of a Noida businessman, were nabbed today for a Rs 1.66 crore (Rs 16.6-million) cyber hack. They used Internet banking to transfer the money from the businessman's account with the Punjab National Bank's Noida branch to their own account.
Mirza Tanners Ltd issued 1000 7.5% non convertible debentures of Rs 100,000 each aggregating to Rs 100 million to Punjab National Bank on a private placement basis.
Lender to acquire 30% after existing shareholders divest stake
'The snakes and ladders game will continue till the consolidation process is complete simply because we don't know how bad the scene is, with some of the banks being merged,' says Tamal Bandyopadhyay.
The Government of Dominica has told a court there to reject the habeas corpus petition filed on behalf of businessman Mehul Choksi who had claimed that he was abducted and forcefully brought to the Caribbean island nation, local media reported. The high court of Dominica ordered that the businessman be produced in a magistrate court to answer charges of his illegal entry into the country and adjourned the hearing on the habeas corpus petition till Thursday, according to local media. Rejecting the submission of Choksi who is wanted in India in an alleged Rs 13,500 crore loan fraud case in Punjab National Bank, the prosecution said the habeas corpus petition does not stand as he had illegally entered the country and was subsequently detained.
While some equity analysts have raised target prices for public sector banks, others remain cautious
Norms governing investments by provident funds bar these from depositing funds in a commercial bank in case the NPAs of that bank exceed two per cent of net advances.
The Reserve Bank of India (RBI) would further cut down key policy rates with inflation continuing its downward trend, Punjab National Bank chairman and managing director K C Chakrabarty said.
Subhash Shankar Parab, a key accused in the Rs 7,000 crore diamantaire Nirav Modi bank fraud case, was "deported" from Cairo on Tuesday after a long diplomatic and legal process, officials said in New Delhi. A CBI team had gone to Egypt's capital to bring back 50-year-old Parab, who was allegedly kept in illegal confinement in a Cairo suburb by Modi, the fugitive diamantaire, they said. The CBI had been chasing Parab, deputy general manager (finance) in Modi's Firestar Diamond and understood to be a key witness to the Letters of Undertaking (LoU) submitted to the Punjab National Bank (PNB) to siphon off over Rs 7,000 crore, they said.
Analysts say there is still no visibility of earnings improvement.
Punjab National Bank and Bank of Baroda said on Monday they will reduce their prime lending rate by 50 and 75 basis points, respectively with effect from January 1. Besides, PNB announced a reduction in its peak deposit rate by 100 basis points to 8.5 per cent for deposits of one year to less than three years beginning new year, the state-run lender said in a filing to the Bombay Stock Exchange.
Non-performing assets of banks have been on the rise for past several months due to slowdown in the economy.
The meeting was also attended by State Bank of India Chairman O P Bhatt and Indian Banks Association and Bank of India Chairman T S Narayanaswami.
Kamalesh Chandra Chakrabarty has joined Punjab National Bank as its executive director and K Ramakrishnan has taken over as executive director of Bank of Baroda.
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.
Banks Board Bureau chief Vinod Rai has proposed performance-linked incentives for bank employees, but the staff unions are dead against the idea.
RBI seeks detailed report on what happened between 2011 and now; bankers to recall loans to Nirav Modi entities.
Punjab National Bank CMD K C Chakrabarty has quit his post after his appointment as RBI Deputy Governor. "K C Chakrabarty has demitted office on June 14, 2009 on his appointment as Deputy Governor, Reserve Bank of India," PNB said in a filing to the Bombay Stock Exchange.
Business is down to such an extent that last year these firms could not even meet RBI's capital norm of Rs 50 million for partnerships and Rs 100 million for public and private firms in this line of business.
Bankers said on Friday interest rates are likely to be stable in the short term as the liquidity position in the country is comfortable. "Interest rates look stable for the time being... at least till April," O P Bhatt, chairman of State Bank of India, told reporters on the sidelines of Finance Minister P Chidambaram's meeting with bankers in New Delhi.
