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.
Nifty PSU Bank index gained 1% led by Allahabad Bank, Andhra Bank, Syndicate Bank and IDBI Bank
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.
Associated Journals Ltd (AJL), which runs the National Herald newspaper, on Wednesday told the Delhi high court that the Enforcement Directorate's (ED) May 2020 provisional attachment order attaching its nine-storey building in Mumbai was 'non executable' as the agency has not identified which portions have been attached.
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.
Finance secretary Rajiv Kumar was positive in formation of a committee consisting all concerned to address the issues arising out of the proposed merger of 10 banks including preserving the identity of all the banks.
Executive directors from different banks are eligible to be promoted to the post of chairman and managing director.
In the biggest consolidation exercise in the banking space, the government on Friday announced four major mergers of public sector banks, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders global sized banks.
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Company is looking to raise the funds through dollar-denominated loans.
All transfers and promotions for next financial year will be decided by respective banks, not by the merged entity.
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Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
Rising bad loans continued to haunt public sector banks (PSBs) in the March 2016 quarter.
The new rates will become effective from Tuesday.
The government is finalising appointment of at least nine public sector bank chiefs and a dozen executive directors who would replace them or fill existing vacancies.
Fugitive diamantaire Nirav Modi's sister and brother-in-law have "turned approvers" in the over $2 billion PNB fraud case against him and they will help the Enforcement Directorate confiscate assets worth Rs 579 crore, including Swiss bank deposits, the agency said on Thursday. Forty-nine-year-old Nirav Modi, who is currently lodged in a London jail, his uncle Mehul Choksi and others are being probed by the Enforcement Directorate (ED) in the Punjab National Bank (PNB) money laundering case since 2018. The diamond merchant's younger sister Purvi Modi (47) is a Belgian national while her husband Maiank Mehta is a British citizen. They are stated to be based abroad and have never joined the probe.
'Investors should not commit fresh money to these stocks right now, unless they can hold for the next three to four years.'
The current employee strength of all state-run banks is about 672,000.
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.
The move to make the appointment process more robust comes after last month's arrest of S K Jain, chairman and managing director of Syndicate Bank last month, over graft charges.
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.
The appointments in 2009-10 would include the CMDs of Syndicate Bank, Bank of India and United Bank of India, sources said. These appointments will be there because of vacancy arising on account of superannuation of the existing chiefs, sources said.
Air India is understood be in negotiations with state-run banks to avail working capital loans at low interests.
Investors' money will remain in accounts till allotment.
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.
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.
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.
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.
For the first time, PSU banks will have a non-executive chairman, giving operational responsibility to managing director and chief executive officer.
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 six banks that have joined the major league are Syndicate Bank, Indian Overseas Bank, UCO Bank, Oriental Bank of Commerce, IDBI Bank and Allahabad Bank.
The delay will increase the provisioning burden on lenders and will also postpone the benefit of reversal of money set aside as provisions.
Banks are also weighing the option of hiring experts for help in specialised areas.
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.
Banks may be offering you more services than ever, but they have their price tags
Traditionally, most PSUs have been cash-rich, which added to their value. However, the government has been tapping regularly into their cash resources to boost revenue for the exchequer
Of the six-member rate-setting monetary policy committee, five members voted for a 25 bps cut while one by 40 bps, the RBI said.
The country's largest lender State Bank of India will get the largest sum of Rs 8,800 crore as government's capital infusion.
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