Page 1064 - Finance News
Forex scam: PSU & foreign banks are involved, alleges Congress
Party urges PM to look into the scam imvolving 8,667 transactions, demands strict action
 "Forex scam: PSU & foreign banks are involved, alleges Congress")
Suspected black money much less than Rs 6,100 crore: BoB
The company also said that 90% of the funds came from 30 other banks, while only 10% were received as cash at the its branch in New Delhi
 "Suspected black money much less than Rs 6,100 crore: BoB")
Overhaul of compliance set-up priority for new Bank of Baroda chief
P S Jayakumar is taking over at a time when the bank is embroiled in an 'illegal foreign exchange transfer' case
 "Overhaul of compliance set-up priority for new Bank of Baroda chief")
BoB: Anti-money laundering norms may be tightened
Bank rules out financial loss; stocks tank 5.5%; RBI may tighten AML norms but says no systemic implications
Jayakumar takes charge as MD & CEO of Bank of Baroda
BOB has been without a full-time CEO since August 2014
 "Jayakumar takes charge as MD & CEO of Bank of Baroda")
Police arrest four in Bank of Baroda money laundering probe
The four arrested are described by the agency responsible for fighting financial crimes as coordinators or middle men
BoB chief Jayakumar gets cracking on KYC
Bank to appoint external accounting firm to look into the policies
 "BoB chief Jayakumar gets cracking on KYC")
Bank of Baroda case: Court remands 2 bank officials in CBI custody
The agency said that both the accused were required to be quizzed to unearth the entire modus operandi
 "Bank of Baroda case: Court remands 2 bank officials in CBI custody")
Forex scam traced to HDFC Bank a/cs
More arrests of those involved in the case, besides six made by CBI and ED, are expected in the coming days
 "Forex scam traced to HDFC Bank a/cs")
One-time fund infusion for stalled road projects
CCEA decision to benefit projects under build-operate-transfer mode
 "One-time fund infusion for stalled road projects")
Finance ministry asks banks to revisit their risk management process
An advisory has been sent by the ministry to all PSU banks to strengthen their vigilance and internal mechanisms
 "Finance ministry asks banks to revisit their risk management process")
Zero-tolerance for misconduct: HDFC Bank
The bank is extending its full cooperation and support to the authorities as they conduct their investigations
 "Zero-tolerance for misconduct: HDFC Bank")
DCB Bank: Fast expansion plan to hit profitability
Analysts expect return ratios to witness pressure in the next 2-3 years
 "DCB Bank: Fast expansion plan to hit profitability")
RBI data shows bank credit growth at 9.4%
In the same period deposits increased slightly faster at 11%
 "RBI data shows bank credit growth at 9.4%")
Sundaram Finance cuts deposit rates by 25 bps
Deposit balance of the company has crossed Rs 2,100 cr
 "Sundaram Finance cuts deposit rates by 25 bps")
Indian consumers most digital savvy in Asia: Survey
Says 71% Indian consumers use social media to get a customer response more than twice that of Japan at 29% and ahead of Hong Kong at 50%
 "Indian consumers most digital savvy in Asia: Survey")
Digital wave forces banks to re-align hiring strategy
Recruitments more from technology, digital analytics; campus hirings to increase
 "Digital wave forces banks to re-align hiring strategy")
'Jan Dhan deposits exceed Rs 25k cr'
PMJDY accounts with balances now exceed 60%, with zero-balance accounts constituting less than 40%
 "'Jan Dhan deposits exceed Rs 25k cr'")
DCB bank Q2 net profit down 10%
Bank plans to double branches by December 2016
 "DCB bank Q2 net profit down 10%")
SBI gets RBI's nod for starting real estate subsidiary
Ropes in KPMG to advise on road map; the bank has about 44 mn square feet of owned assets and 50 mn square feet of rented properties
 "SBI gets RBI's nod for starting real estate subsidiary")