Page 1162 - Finance News
Kotak Bank shareholders approve merger of ING Vysya Bank
The proposal was passed at an EGM on Thursday; the deal will see an exchange ratio of 725 shares of Kotak for every 1,000 of ING Vysya
 "Kotak Bank shareholders approve merger of ING Vysya Bank")
Kotak Mahindra withdraws MCX board nomination
Kotak Mahindra Bank is the single largest shareholder, with 15% equity that it purchased at Rs 600 a share from Financial Technologies in July last year
Standard Chartered winds down securities business
Institutional, merchant banking businesses to close down; retail broking to operate with reduced scale
 "Standard Chartered winds down securities business")
SBT seeks Sebi nod to raise Rs 485 cr via rights issue
The bank intends to utilise the net proceeds towards augmenting capital base to meet its capital requirements
 "SBT seeks Sebi nod to raise Rs 485 cr via rights issue")
ICICI Bank launches contactless credit and debit cards
These cards are based on Near Field Communication technology, which provides customers the improved convenience of speed
 "ICICI Bank launches contactless credit and debit cards")
As favourable inflation base effect vanishes, bond yields could climb up
CPI data is expected on Monday; There are fears that it could shoot above expectations
 "As favourable inflation base effect vanishes, bond yields could climb up")
ING Vysya union protests merger at EGM
The bank had announced its merger with Kotak Mahindra Bank on November 20, 2014
 "ING Vysya union protests merger at EGM")
Yes Bank to raise about Rs 5,500 crore in next 12 months
Another Rs 2,500 crore will be raised as hybrid capital to meet Basel III requirements from domestic markets
 "Yes Bank to raise about Rs 5,500 crore in next 12 months")
RBI not game for LIC's play in state-owned banks
However, the insurance behemoth, which holds 12-15% stake across PSBs, has Irda support
 "RBI not game for LIC's play in state-owned banks")
Bank unions defer strike on Wednesday as IBA raises offer by 1.5%
IBA offered a hike of 12.5% compared to the earlier 11%; negotiations to continue tomorrow
 "Bank unions defer strike on Wednesday as IBA raises offer by 1.5%")
Top posts at state-run banks to be filled in two months
Government to insist on younger PSU bank chiefs, might tap the private sector
 "Top posts at state-run banks to be filled in two months")
 "Credit ratings of corporate entities consolidate for upward journey")
Stable asset quality to keep debt recast cases low in Q4
Number of cases referred in April-December 2014 declined sharply to 22 from 84 cases in April-December 2013
 "Stable asset quality to keep debt recast cases low in Q4")
PNB revises interest rate on FDs by up to 0.5%
The new rate will be effective from January 8
 "PNB revises interest rate on FDs by up to 0.5%")
SBI sees 41% jump in mobile banking transactions
In 2014, 12.5 mn customers transacted on mobile compared to 8.57 mn customers in 2013
 "SBI sees 41% jump in mobile banking transactions")
PSBs' capitalisation challenge not addressed: Moody's
The banks need capital to support loan growth, comply with Basel-III regulations and improve their loan loss coverage
 "PSBs' capitalisation challenge not addressed: Moody's")
Govt assures PSBs capital this fiscal
Earlier govt had allocated in budget Rs 11,200 cr for capitalisation in public sector banks
 "Govt assures PSBs capital this fiscal")
CCI rejects cartel charge against 12 banks
The application was filed by Muthoot Mercantile Ltd, which had alleged anti-competitive practices in agri-gold loan business
 "CCI rejects cartel charge against 12 banks")