Page 1194 - Finance News
Guarantor can also be named wilful defaulter: RBI
RBI rule, applicable prospectively, also for non-group guarantors
 "Guarantor can also be named wilful defaulter: RBI")
UBI may declare UB Holdings a wilful defaulter
Sources said a few other lenders were also contemplating a move to declare both Kingfisher Airlines and UBHL wilful defaulters
 "UBI may declare UB Holdings a wilful defaulter")
Shubham raises Rs 122 crore series 'C' funding
The funding was led by Motilal Oswal Private Equity along with existing investors
 "Shubham raises Rs 122 crore series 'C' funding")
Upper age limit for MD & CEO of a private bank is 70 years: RBI
However, within the overall limit of 70 years, individual bank's Boards are free to prescribe a lower retirement age
 "Upper age limit for MD & CEO of a private bank is 70 years: RBI")
ICICI Bank says board approves five-for-one stock split
ICICI did not give a reason for the stock split but it looks as an aim to increase the liquidity of scrip
 "ICICI Bank says board approves five-for-one stock split")
70 years upper age for private bank CEOs, whole-time directors: RBI
Adds banks are free to set lower retirement age
Lakshmi Vilas Bank to pay 5% on deposits of over Rs 1 lakh
The bank earlier used to offer an interest rate of 4% on deposits in savings accounts
 "Lakshmi Vilas Bank to pay 5% on deposits of over Rs 1 lakh")
SBI seeks relaxed norms on PIN for card transactions
Facility to be available for tap and go cards; transaction limit of Rs 2,000 sought
 "SBI seeks relaxed norms on PIN for card transactions")
New RBI norms on Basel-III a plus for banks, says Moody's
Says the new norms are particularly good for public sector banks
 "New RBI norms on Basel-III a plus for banks, says Moody's")
Pluses for banks in new RBI rules on Basel-III instruments: Moody's
Revised rules make instruments more attractive and broaden base for additional tier-1 bonds to include retail investor
 "Pluses for banks in new RBI rules on Basel-III instruments: Moody's")
BRICS bank not aimed at challenging IMF, WB: RBI Governor
Says BRICS bank meant to provide patient money, risk capital to long term projects
 "BRICS bank not aimed at challenging IMF, WB: RBI Governor")
Bill to check wilful loan defaults likely in Winter session
Department of Financial Services has set up a panel for suggesting changes in existing laws to make debt recovery more effective
 "Bill to check wilful loan defaults likely in Winter session")
Monetary stimulus may backfire, provoke savings glut, says Rajan
Fears that the world might be setting the stage for a repeat of the years after the Asian crisis of the '90s
 "Monetary stimulus may backfire, provoke savings glut, says Rajan")
Report on forensic probe into alleged scam soon: Ashwani Kumar
Report stated the funds were surreptitiously transferred out of the bank by creating a fake overdraft facility
Dilute 7% stake to raise Rs 1,200 cr: Dena Bank to Centre
This would help the bank mobilise Rs 12,000 cr to meet its growth target of 18%
 "Dilute 7% stake to raise Rs 1,200 cr: Dena Bank to Centre")
Wilful defaulter tag a 'powerful weapon' for creditors: Raghuram Rajan
The RBI Governor's statement are significant in light of United Bank declaring Vijay Mallya and Kingfisher Airlines wilful defaulters
 "Wilful defaulter tag a 'powerful weapon' for creditors: Raghuram Rajan")
Rajan reiterates hawkish view on price rise
Also says PSU banks divestment to be considered after improvement in governance
 "Rajan reiterates hawkish view on price rise")
SBI launches savings bank accounts for children
RBI had in May allowed minors more than 10 years old to open and operate savings bank accounts independently
 "SBI launches savings bank accounts for children")
PNB to raise Rs 1,500 cr via Basel-III bonds
For the bank, cost of capital raised through Basel III instruments is expected to be lower
 "PNB to raise Rs 1,500 cr via Basel-III bonds")