It further said that the loan application form should be suitably modified to incorporate passport details of borrowers.
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
The Crown Prosecution Service said the hearing for his bail petition will take place on June 11.
The S&P BSE Sensex dropped 1 points to end at 26,396 and the Nifty50 slipped 2 points to end at 8,109.
Independence Day was celebrated across states and Union territories on Thursday, as several chief ministers announced job schemes while some others vowed their support for Prime Minister Narendra Modi's vision of a Viksit Bharat by 2047.
The 'bad bank' -- which will help banks clear their balance sheets by transferring the NPAs to special purpose vehicles -- has been one of the most debated ideas for stressed asset resolution.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
The Delhi high court on Friday dismissed a plea by Mehul Choksi, an accused in the nearly USD 2 billion PNB scam, to conduct pre-screening of Netflix documentary Bad Boy Billionaires.
A week after the Reserve Bank of India (RBI) raised key policy rates and asked banks to restrain loan growth as deposit mobilisation remains slow, three state-owned banks responded on Monday by increasing their benchmark lending rates and deposit rates.
The finance minister also said that the merger would not result in any retrenchment but rather improve the benefit of the employees.
According to RBI's circular, cases of frauds involving more than Rs 25 crore and up to Rs 50 crore should be given to the CBI's Banking Security and Fraud Cell
Temperatures in 17 locations breached 45 degrees Celsius on Monday, with the punishing heat affecting health and livelihoods.
Bad loans of PSBs are at Rs 20 trillion. Most of it is, I sense, due to corruption and behest lending. Nobody pays a price for this charade. Not the promoters, the bankers, RBI officials, finance ministry bureaucrats or politicians, points out Debashis Basu.
Prime Minister Narendra Modi on Friday claimed that the Congress and Samajwadi Party will run a bulldozer over the Ram temple if elected to power, and asked them to take 'tuition' from Uttar Pradesh Chief Minister Yogi Adityanath 'where to run bulldozers'.
Nirav, 48, appeared before the Westminster magistrates' court via videolink from his London prison for a routine "call-over" remand hearing.
Mallya is separately fighting extradition to India on fraud and money laundering charges worth an estimated Rs 9,000 crore
Banks have been struggling hard to recover dues from grounded Kingfisher Air.
The response was tepid in other parts of the country even as several INDIA bloc parties as well as other non-BJP outfits extended their support to the bandh.
Amardeep Singh, 22, a resident of Brampton, Surrey, and Abbotsford areas of Canada, has been charged with first-degree murder and conspiracy to commit murder.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
The proposed amalgamation will make Bank of Baroda, which will merge the other two lenders with itself, the second largest public sector bank after State Bank of India in place of Punjab National Bank.
The finance minister asked lenders to identify eligible borrowers and reach out to them and urged for quick implementation of a sustained resolution plan for the revival of every viable business.
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.
Chakrabarty would succeed V Leeladhar as the deputy governor in charge of banking in the apex bank. The official notification is expected soon and Chakrabarty is likely to assume office on Monday, banking sources said.
The Punjab National bank on Friday announced 0.25 per cent cut on interest rates for home and car loans, effective from Saturday, September 23.\n
Country's biggest mortgage lender HDFC on Tuesday announced a festive offer in line with peers like SBI with home loans starting from 6.70 per cent. Last week, SBI as part of festival bonanza offered a concessional home loan rate of 6.70 per cent under its festive offer. This was followed by other lenders like Punjab National Bank and Bank of Baroda.
Some of the public banks showed improvement; much more still needs to be done
Bank provides for Rs 7,178 crore, or 50 pf of the total amount of the Rs 14,356 crore scam, in the fourth quarter of 2017-18. The remaining amount will be covered in the three quarters of the current fiscal year.
The name of fugitive diamantaire Mehul Choksi wanted in a Rs 13,000-crore scam in the Punjab National Bank is understood to have been removed from the Interpol database of Red Notices on the basis of his plea to the Lyon-headquartered agency, people in the know of the development said. The Central Bureau of Investigation (CBI) remained tight-lipped on the development. The Red Notice is highest form of alert issued by the 195-member country-strong Interpol to law enforcement agencies worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.
Factors like dedicated recovery teams, centralised follow-up on bad loan accounts and resolutions via NCLT are driving the trend
A land-owning class, the Jats are a powerful community and account for 28 per cent of Haryana's population. The time, they believe, has now come for them to take revenge.
The Central Vigilance Commission has penalised 130 government employees for their alleged involvement in corruption. Of these, 29 were Syndicate Bank officials, nine each were from Canara Bank and Punjab National Bank, eight from State Bank of India, seven from Bharat Coking Coal Limited and six each from State Bank of Bikaner and Jaipur and Life insurance Corporation of India Limited.
'The fight is between the Congress and Akali Dal.'
In fact, some private sector lenders have decided to skip advertising these altogether.
Ananthasubramanian, 55, started her career in 1982 at Bank of Baroda as a specialist officer in the planning stream.
With the Reserve Bank of India allowing retired teachers, kirana shop owners and public call office (PCO) operators to be hired as business correspondents, banks are set to hire over 200,000 people over the next few years to push financial inclusion initiatives.
Choksi has appealed to the Interpol to not issue an RCN against him as the charges are politically motivated, officials said
As a multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by Corporate Affairs Ministry
Two persons were injured and a vehicle was damaged when unidentified miscreants hurled grenades in front of Punjab National Bank branch at Ganeshguri in the heart of the city around 6.10 on Tuesday evening.
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