Many from this small lender have made it to other bank boards over the past 5 years
Bank unions - officers and workmen - had buried their differences and sat across the table on August 29 to work out a fresh deal with the IBA involving a 20 per cent wage hike.
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.
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.
Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
The posts of Chairman and MD in the private sector are held separately.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
Both groups warn of initiating strict actions, issue public notices.
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 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.
In August, the central bank had announced that it will set up the Reserve Bank Innovation Hub (RBIH) to promote innovation across the financial sector by leveraging on technology and creating an environment that would facilitate and foster innovation.
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.
One hundred and thirty officials of different government departments were slapped with major penalty by the Central Vigilance Commission for their alleged involvement in corruption.
The incidence of corruption cases can be checked to a large extent if the suggestions already available with RBI and the government are taken seriously, says Shyamal Majumdar.
"We do not have a presence there right now and will start operations by end of the third quarter of the next fiscal," said the bank's Chairman and Managing Director Bhaskar Sen.
Rediff.com's A Ganesh Nadar takes a tour of banks in a Chennai suburb and finds that nothing has changed in one month since demonetisation.
The new rates will become effective from Tuesday.
Three or four accounts are enough for one family. Having more increases paperwork and can be misused as well.
Factors like dedicated recovery teams, centralised follow-up on bad loan accounts and resolutions via NCLT are driving the trend
Though Infosys did not elaborate why it has parked more money with PSBs, bankers indicated the prime reason was the high deposit rates. Large private players such as ICICI Bank, which were till early last year offering higher interest rates, have withdrawn from that segment. In contrast, till November-end, PSBs were offering up to 400 basis points higher on bulk deposits to mop up resources for the increase in demand for loans.
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.
Even under the RTI response, all public sectors banks have washed their hands of any responsibility.
Several PSU lenders, including Canara Bank, Bank of India and Bank of Baroda, Syndicate Bank, have already slashed their benchmark prime lending rates by 0.75 per cent after Finance Minister P Chidambaram met state-owned banks' heads to discuss the possibility of rate cuts.
The AAP alleged that Arun Jaitley, as president of the DDCA in 2011, had "pressurised" the then police commissioner to "close" an investigation involving a cricket club of a private bank.
This is the first tranche of capital infusion for the fiscal and more funds would be provided in future depending upon the performance of PSU banks.
To begin with, there would be the immediate integration of various technology stacks. This would create more business for global consulting and IT services entities such as KPMG, PwC, EY, Accenture and IBM, among others. Indian service providers - Infosys, Tata Consultancy Services (TCS), and Wipro, for instance - would also cash in.
Piramal Enterprises' bid for debt-ridden DHFL received the most votes from lenders at the close of the voting process on Friday, sources said. Piramal Enterprises' bid received 94 per cent votes as compared to 45 per cent for the US-based Oaktree Capital. Voting was done on various parameters, including qualitative and quantitative.
Nifty saw the biggest weekly gain since the first week of September and comfortably maintained its crucial 8250 levels in today's session
Investors' money will remain in accounts till allotment.
The RBI also looked into the effectiveness of systems and processes for implementation of KYC norms
As many as 6,801 cases of fraud were reported by scheduled commercial banks and select financial institutions involving an amount of Rs 71,542.93 crore in the last fiscal.
12 banks have been authorised to receive such donations to the Prime Minister's National Relief Fund.
Leading Indian public sector banks State Bank of India, Bank of Baroda and Syndicate Bank are close to committing a part of the $3 billion bridge loan that Tata Motors has to raise to finance the acquisition of Jaguar and Land Rover from Ford.
The Enforcement Directorate made these claims in an official statement issued by the federal agency following its raids in this case at Chennai, Madurai and Tiruchirapalli on April 9.
High interest rate, policy uncertainty in the year of elections, along with risk aversion led to slow takeoff in credit demand on the corporate front.
'There's a huge need for advancements in current security incident logging and monitoring practices.'
Nifty PSU Bank index gained 1% led by Allahabad Bank, Andhra Bank, Syndicate Bank and IDBI Bank
Company is looking to raise the funds through dollar-denominated loans.
Bank of New York Mellon Corp has pulled out of providing financial services to the Adani group and its Carmichael coal mine in Australia, saying the venture is incompatible with its environmental, social and governance rules.
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