The government has already announced infusion of Rs 10,086 crore in Bank of India, Rs 5,500 crore in Oriental Bank of Commerce and Rs 2,159 in United Bank of India.
Out of these seven PSBs, Bank of India is likely to get the highest amount of Rs 10,086 crore, followed by Oriental Bank of Commerce, which might get Rs 5,500 crore through recapitalisation bonds
The government is set to increase its stake in Bank of Baroda (BoB), Oriental Bank of Commerce (OBC) and Dena Bank.
Move to help India Inc access funds in the absence of foreign funds.
This year, at least eight public sector banks are set to scrap their existing Bancassurance tie-ups with insurers. They are: Bank of India, Union Bank, Karnataka Bank, Allahabad Bank, Indian Overseas Bank, Bank of Maharashtra and Federal Bank.
You can avoid visiting banks, as several innovative technologies help you do banking transactions easily using your cellphone now
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
With each form costing Rs 250, the bank has raked in around Rs 60 crore (Rs 600 million).
Sources close to the development said the chairmen of both banks would meet shortly, after which the matter would be taken up by the respective boards and employees would be consulted.
A passenger travelling in a cycle rickshaw can now have the luxury of sipping a Coke or Pepsi apart from listening to music via a headphone while he travels.
SBI, PNB, Bank of Baroda, Canara Bank, Dena Bank, Central Bank of India ended down 3%-12% each.
Imagine a tiny automated teller machine (ATM) that could be carried anywhere in your bag. Unusual it may sound, but Gujarat will soon have such small ATMs. In a novel initiative to make rural banking hassle-free, public-sector bank Dena Bank is gearing up to roll out these little ATMs in a couple of rural areas on experimental basis.
Six nationalised banks, including Canara Bank and Bank of Baroda, on Wednesday signed an agreement with Indian Railways for setting up more than 700 ATMs at railway stations across the country.
After removing three PSBs - BoI, Mahabank and OBC from the framework, RBI, on Tuesday, took out three commercial banks - Allahabad, Corporation and Dhanlaxmi from the said list.
Among other demands, the unions are also seeking immediate introduction of five-day week in full and reduction of cash transaction hours and regulated working hours.
Finance Minister P Chidambaram on Friday began his day-long visit to the financial capital by reviewing the operations of Unit Trust of India.
ICICI Bank, Union Bank of India, Central Bank of India and Dena Bank have all hiked interest rates on NRE and FCNR fixed deposits from January 1.
The annual earnings of a non-executive chairman of a PSB is capped at Rs 10 lakh, inclusive of fees for attending board meetings. This is way below the compensation of the chairman of any private bank, reveals Tamal Bandyopadhyay.
The RBI on Friday imposed a fine of Rs 6.5 crore (Rs 65 million) on six public sector banks including IDBI Bank, Dena Bank and Indian Bank, for violation of customer identification or KYC norms and anti-money laundering guidelines.
Borrowers haven't heard the last of interest rate hikes, as more banks are preparing to raise lending rates in the days ahead to offset increase in their cost of funds.
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Banks had a tough time in recovering loans from corporates in 2014.
12 banks have been authorised to receive such donations to the Prime Minister's National Relief Fund.
Corporation Bank is the biggest beneficiary of this round of capital infusion with Rs 9,086 crore of funding, followed by Allahabad Bank with Rs 6,896 crore.
Electing Union Bank of India chairman V Leeladhar as the new chief, the Indian Banks Association on Thursday said it has constituted a committee to draw up a long-term perspective 'Vision Plan' for the banking industry.
The Bombay Stock Exchange will shift 22 scrips, including Canara Bank, Dena Bank and i-flex from the 'B1' to the 'A' group, from November 3.
Canara Bank topped the list recovering Rs 638.41 crore (Rs 6.38 billion) from non-performing assets of the total Rs 4,420 crore (Rs 44.2 billion) recovered by 19 nationalised banks by taking advantage of securitisation laws in the last fiscal.
Banking PSU stocks were being drubbed today following reports that the Centre may charge a premium on returned equity by these banks.
The country's largest lender State Bank of India will get the largest sum of Rs 8,800 crore as government's capital infusion.
Banks are also weighing the option of hiring experts for help in specialised areas.
Banking PSU stocks made a brave comeback on Monday after succumbing to losses Friday following the Union Budget's ignoring a long-standing demand by the sector on FDI limits.
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.
Market-linked products have been driving the growth of private insurers for some time now. But, the market volatility has forced the companies to re-think their strategies, reports Subrata Panda.
Banks were the frontrunners on the bourses early today as investors were deeming their valuations offered a chance for appreciation. \n\n
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