Page 1253 - Finance News

Govt gets moving on United Bank of India

Starts daily monitoring of recovery efforts, wants things to get better before lender seeks any more capital

PSBs need to play greater role in MF sale: Sebi

Says the banks will need active support from Asset Management Companies to enable the distribution of mutual fund products as it was supported by insurance firms

NABARD flags concern over rise in frauds in rural banks

Says banks have poor fraud detection, monitoring systems

Bring NBFCs under SARFAESI Act: study

The study was conducted jointly by business chamber Assocham and consultancy firm Resurgent India

Jalan panel on bank licences to hold last meeting on Feb 25

Panel had started the process of evaluations with the first meeting on November 1, 2013

UBI board meets, discusses ways to cut bad loans

Mulls ways to improve the bank's earnings, cut bad loans and step up credit recovery efforts

UBI chairperson resigns citing health reasons

Govt accepts her request promptly

Archana Bhargava: A curious exit?

Ministry accepts VRS request; UBI chairperson Bhargava quits citing health reasons

Citibank rules out India subsidiary, informs RBI

Major setback to RBI's ambition of making foreign banks convert their branches into subsidiaries

Forex reserves rise to $294 billion

SBI plans to incentivise staff to work in villages

The bank had also hired about 4,000 relationship managers/relationship officers on a contract basis

'Provision for capital infusion in PSBs not adequate'

The allocation is credit negative for PSBs as it was much less than the Rs 25,000-36,000 cr banks needed to meet the regulatory norm

Cholamandalam Investment to raise Rs 315 cr from IFC

Money will be infused in the form of a Tier-II debt investment

Recovery rate of commercial banks falls to 46%

Lukewam collection from govt sponsored schemes main culprit

PNB applies to open branches in Pakistan

PNB has applied for opening branches in Lahore and Karachi, but approval is yet to come from competent authority

Deutsche Bank backs its India born co-CEO Jain

Last month, German lender said it was co-operating with regulators in global foreign exchange probe

Capital allocation for PSUs in interim budget is credit negative: Moody's

Says it is much smaller than estimated requirements

UBI slashes CD issue, sees CARE downgrades

For the December 2013 quarter, the bank had posted a net loss, the second consecutive quarterly loss

Pvt banks start growing unsecured retail loans

Credit card, personal loan growth outpace rise in home, auto finance

Reserve Bank to enforce strict regime on UBI

Capital restoration plan, curbs on lending likely; govt may have to dilute stake