Page 476 - Finance News
RBI imposes Rs 15 lakh penalty on Baghat Urban Co-operative Bank, Solan
The RBI on Wednesday said it has imposed a penalty of Rs 15 lakh on The Baghat Urban Co-operative Bank Limited, Solan, for violation of certain norms, including, those related to NPA classification
 "RBI imposes Rs 15 lakh penalty on Baghat Urban Co-operative Bank, Solan")
Govt approves raising family pension of bank staff under NPS
The families of deceased bank employees will receive up to 30 per cent of the last drawn salary of the employee under the National Pension Scheme (NPS)
 "Govt approves raising family pension of bank staff under NPS")
RBI okays Hitendra Dave as HSBC India head for three years starting Aug 24
Dave is a General Manager within the HSBC Group and a member of the Asia Pacific Executive Committee of HSBC
 "RBI okays Hitendra Dave as HSBC India head for three years starting Aug 24")
Karnataka Bank launches KBL FASTag for seamless toll deduction
Karnataka Bank on Wednesday launched KBL FASTag for seamless movement of vehicles at toll plazas by facilitating automatic deduction of the toll amount.
 "Karnataka Bank launches KBL FASTag for seamless toll deduction")
Banks have been asked to create state-wise plans for north-east: FM
A push to credit growth from such outreach efforts will also help the momentum set by the stimulus packages, which have been extended by the government since the onset of the pandemic.
 "Banks have been asked to create state-wise plans for north-east: FM")
Work with states to push 'one district, one product' agenda: FM to banks
Finance Minister Nirmala Sitharaman on Wednesday said she has requested banks to work with all state governments to push the one district, one product' agenda
 "Work with states to push 'one district, one product' agenda: FM to banks")
Banks to have nationwide credit outreach programme this year: FM
Finance Minister Nirmala Sitharaman on Wednesday said that public sector banks (PSB) will adopt a nationwide credit outreach programme this year.
Centrum to merge Micro credit, SME biz with small fin bank for Rs 426 cr
The transfer, via a slump sale is subject to shareholders, statutory and regulatory approvals. Centrum has indicated the transaction would be completed in two months
 "Centrum to merge Micro credit, SME biz with small fin bank for Rs 426 cr")
HDFC Bank divests over 25% stake in CDSL for Rs 223 crore
HDFC Bank sold 23,11,000 equity shares of face value of Rs 10 each fully paid up held by the bank in CDSL through the secondary market route on the NSE
 "HDFC Bank divests over 25% stake in CDSL for Rs 223 crore")
RBI approves re-appointment of Sandeep Bakhshi as ICICI Bank MD & CEO
The shareholders at the annual general meeting held on August 9, 2019, had already approved the appointment of Bakhshi for a period effective from October 15, 2018, upto October 3, 2023
 "RBI approves re-appointment of Sandeep Bakhshi as ICICI Bank MD & CEO")
Visa repositions its brand to shed cards entity image
It wants to be known as a payments network and player in the digital payments arena
 "Visa repositions its brand to shed cards entity image")
MFIs, Assam govt sign MoU for microfinance incentive and relief scheme
Microfinance Institutions Network on Tuesday said 37 microlenders and Assam government have signed an MoU for joint implementation of the Assam Microfinance Incentive and Relief Scheme (AMFIRS), 2021
 "MFIs, Assam govt sign MoU for microfinance incentive and relief scheme")
FM Nirmala Sitharaman to meet CEOs of public sector banks on Wednesday
Finance Minister Nirmala Sitharaman will meet heads of PSBs on Wednesday to review financial performance of the lenders and progress made by them in supporting the pandemic-hit economy, sources said.
 "FM Nirmala Sitharaman to meet CEOs of public sector banks on Wednesday")
Harvard Business Publishing features merger of Indian Bank, Allahabad Bank
State-owned Indian Bank has been featured in the Harvard Business Publishing for its successful merger of Allahabad Bank.
 "Harvard Business Publishing features merger of Indian Bank, Allahabad Bank")
Bank of India plans to raise Rs 3,000 cr equity capital via QIP
The bank will also utilise the proceeds of the QIP for developing app based retail loan applications and offer electronic bill discounting facility, they added.
 "Bank of India plans to raise Rs 3,000 cr equity capital via QIP")
HDFC Bank to issue 300,000 credit cards a month to regain lost market share
Will raise issuance to 500,000 credit cards per month beginning February 2022
 "HDFC Bank to issue 300,000 credit cards a month to regain lost market share")
RBI panel suggests umbrella body for helping smaller UCBs scale up
Says large UCBs that cannot function fully as a bank be treated like SFBs
 "RBI panel suggests umbrella body for helping smaller UCBs scale up")
RBI's forex reserves set to top $655 billion by March 2022: Report
As central bank continues to increase forex reserves by running down forward book which totalled $42 billion as of end-July, signalling its strong resolve to build a bigger reserve
 "RBI's forex reserves set to top $655 billion by March 2022: Report")
Punjab & Sind Bank sets off accumulated losses of Rs 3,577 crore
Punjab & Sind Bank on Monday said it has set off accumulated losses of over Rs 3,577 crore against the share premium account of the bank
 "Punjab & Sind Bank sets off accumulated losses of Rs 3,577 crore")
Canara Bank closes QIP by raising Rs 2,500 cr equity capital
Last week, the bank had launched the qualified institutions placement (QIP), setting the floor price at Rs 155.58 per equity share
 "Canara Bank closes QIP by raising Rs 2,500 cr equity capital")