Page 583 - Finance News

Bank of Baroda posts Rs 507 cr profit in Q4 on lower bad loans provision

The bank had posted a net profit of Rs 991.37 crore in the January-March quarter of the preceding fiscal ended March 2019

Union Bank reports narrowing net loss of Rs 2,503 cr in March quarter

The bank had posted a net loss of Rs 3,369.23 crore during the same quarter of the previous financial year

Complete tech integration with OBC, United Bank of India this fiscal: PNB

The integration of the core banking solution platform would take slightly longer time as the merged entity had an older version of this platform, PNB chief said

Banks sanction over Rs 79,000-crore loans to 1.9 mn MSMEs, says govt

The top lenders under the scheme are SBI, HDFC Bank, Bank of Baroda, PNB and Canara Bank

Ransomware allegedly hits Indiabulls Group, threaten to leak info: Cyble

The leaked data seems to be a warning by the ransomware operators to Indiabulls group to accept their terms within 24 hours

Govt should keep 51% ownership for solidity in PSBs: YES Bank's Sunil Mehta

YES Bank Chairman Sunil Mehta spoke to Abhijit Lele and Pavan Lall about resetting the bank's strategy and corporate governance in banking, and what banks were to do to recover money.

Covid-19 impact: RBI may review extra-provisioning norms of June 7 circular

Terms on upgrade of accounts also likely to be tweaked as the central bank's June 7 circular may get a relook

Bank deposits grow at 11.3% but credit growth moderates, shows data

Banks have also lowered their lending rates following the cut in the benchmark rates by the Reserve Bank of India (RBI).

PSBs lead in disbursing loans to MSMEs under credit guarantee scheme

The bulk of the disbursed amount -about two-third- was contributed by public sector banks.

Banks sanction Rs 75,000-cr loans to MSMEs under credit guarantee scheme

The scheme is the biggest fiscal component of the Rs 20-trillion Aatmanirbhar Bharat Abhiyan package

ICICI Bank sells 1.5% stake in ICICI Prudential for Rs 840 crore

The bank has now raised Rs 3,090 crore by selling stake in its life and general insurance subsidiaries

YES Bank gets approval to raise up to Rs 15,000 crore via FPO in July

The issue, to be managed by SBI Caps, will be launched at a substantial discount to the current market price to attract investors.

RBI bars YES Bank from coupon payment on Upper Tier II bonds

The private lender had approached banking sector regulator RBI seeking approval to pay interest due as on June 29, 2020 for Upper Tier II Bonds

RBI asks banks, NBFCs to increase awareness campaigns against frauds

The central bank observed that despite the financial literacy drive it undertook, cases of frauds continue to rise

Covid-19 impact: RBI asks banks to carry out detailed stress testing

Capital-raising, precautionary provisioning may be on cards

LIC Housing Finance likely to recover Rs 3,000 crore worth NPAs

The target is to get back about 50 per cent of gross non-performing assets (GNPAs), Managing Director and Chief Executive Siddhartha Mohanty said.

Credit growth will come from retail, MSMEs: SS Mallikarjuna Rao, PNB MD

"MSMEs are working hard to come back to normalcy. We expect a robust comeback from them in October, particularly in some sectors"

YES Bank board may take a call on Monday to raise Rs 10,000 cr via FPO

The bank is likely to file for its offer document soon after the board clears the fundraising plan.

Likely job, salary cuts to have relatively low impact on SBI: Rajnish Kumar

SBI has traditionally been the banker of choice to the Government of India and is an accredited banker to major Central Government Ministries and Departments, the annual report said

Expect to post moderate profit in every quarter of this fiscal: PNB MD

The bank's prime goal in 2020-21 would be to strengthen its balance sheet so that it can create a better case for the amalgamated entity for the next fiscal, too, Rao said