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 Large private players such as ICICI Bank, which were till early last year offering higher interest rates, have withdrawn from that segment.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.
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.
Nifty saw the biggest weekly gain since the first week of September and comfortably maintained its crucial 8250 levels in today's session
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.
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.
The RBI also looked into the effectiveness of systems and processes for implementation of KYC norms
Investors' money will remain in accounts till allotment.
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.
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.
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.
'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.
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.
The Bollywood actress shares investment tips as well as the best and worst investment decision she's taken so far.
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Banks had a tough time in recovering loans from corporates in 2014.
Readers tell us about their first salary and how they spent it.
The Sebi intends to introduce the Application Supported by Blocked Amount, which will require retail investors bidding at a cut-off price, to apply through self-certified syndicate banks in which they have accounts.
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
Capital markets regulator Sebi on Wednesday streamlined the payment of processing fee through the Unified Payments Interface (UPI) system for shares applied for and allotted during an initial public offering (IPO). In addition, the regulator has devised a new reporting format for capturing the data of all ASBA (Application Supported by Block Amount) applications unblocked by Self Certified Syndicate Banks (SCSBs) and their corresponding date of actual unblock. The new format has been put in place after reviewing the performance of SCSBs on timely unblocking of application amounts and feedback received from market intermediaries, Sebi said in a circular.
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Bank stocks have underperformed in the second quarter of FY'14 with the BSE Bankex declining 18 per cent compared to fall of 1 per cent in the BSE 30-stock index, Sensex, during this period.
The RBI, which has no interest or mechanism to get feedback from bank customers, is unaware of this. If made aware, it remains silent, proving that it has no problem in allowing lenders to short-change its customers, says Debashis Basu.
The S&P BSE Midcap and S&P BSE Smallcap indices gained 0.4% and 1%, respectively
The Enforcement Directorate has summoned actor Ranbir Kapoor for questioning on Friday in connection with Mahadev betting application money laundering case of Chhattisgarh, officials said Wednesday.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
The DDCA decided to file a defamation case against Delhi CM Kejriwal and suspended BJP MP Kirti Azad for making "wild and baseless" allegations of corruption against the body.
The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
Despite high exposure of public sector banks to power, iron and steel sectors, analysts remain in a wait-and-watch mode.
Sebi has asked intermediaries to stagger the offerings as much as possible, said people in the know and ensure adequate capacity building.
While the BJP said it has only portrayed some incidents, which happened during the previous Congress regime through the cartoons which are not meant to hurt anyone, the grand old party accused it of releasing such illustrations out of frustration.
They are understood to have promoted the Mahadev app and some had entertained guests at a wedding of a promoter of the app (application) that was held abroad.
On April 14, 2016, the crime branch of the Thane police had seized over 20 tonnes of ephedrine and 2.5 tonnes of acetic anhydride drugs from a pharmaceutical factory - Avon Life Sciences - in Solapur and other locations in Thane and Ahmedabad.
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