Page 625 - Finance News

Cabinet likely to approve mergers of 10 public sector banks into 4 today

This will be the biggest merger exercise of PSBs, which was announced by Finance Minister Nirmala Sitharaman in August 2019

Oriental Bank CEO asks FinMin to give a new name for newly merged entity

If the bank formed after amalgamation is not given a separate name, people would feel that OBC and UBI merged into PNB

Enhanced insurance cover of Rs 5 lakh on bank deposits from Tuesday: RBI

The cover is provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the RBI

Pramod Kumar Singh appointed wholetime member of pension fund regulator

He is at present Competition Commission of India (CCI) secretary

Crisil report warns of high stress in non-banking lenders' wholesale book

The crisis in the wholesale books will be led more by real estate and structured credit

Fairfax-backed CSB Bank's Q3 PBT increases multiple fold to Rs 42.4 cr

Net NPA which was 3.7 per cent last year third quarter dropped to 2 per cent during the current fiscal

Maharashtra Co-op Bank writes to FM seeking branch merger of PMC Bank

At present, the bank is returning excess capital to the district banks which are its members

Bank frauds decline to Rs 5,244 cr annually on improved detection: Govt

Bank frauds reduced significantly from Rs 38,548 crore in the 2016-17 fiscal to Rs 16,084 crore in 2017-18 fiscal

IDBI Bank raises capital worth Rs 745 cr via tier-II bonds after 2 years

Bank officials said the money raised through tier II bond offering is expected to increase Capital Adequacy Ratio (CAR) by about 50 basis points

Banks credit grows by 7.21%, deposits by 9.51%: RBI data

Non-food bank credit growth decelerated to 7 per cent in December 2019 from 12.8 per cent in December 2018

RBI to come out with last monetary policy for FY20 on Thursday

The RBI said it will place the resolution of the MPC on its website before noon on February 6

PNB seeks IRDAI forbearance for paring stake in Canara HSBC OBC Life

PNB has requested the regulator to provide additional time for cutting down or offloading its stake in the life insurance firm that will come to its fold by merger of another lender

Nationwide strike impacts banking services for second day at PSBs

However, private sector lenders like ICICI Bank and HDFC Bank were operational

Budget 2020: Govt may introduce programme to buy NBFCs' stressed assets

The government is likely to unveil, in the Union Budget 2020, a Troubled Assets Relief Programme (TARP) similar to what the US initiated during the financial crisis in 2008

India must have at least six banks in top 100 global list: Economic Survey

Equity markets also discount PSBs

Non-food credit growth slides to 7% in Dec 19 from 12.8% a year ago

All four categories - agriculture, industry, services and retail - segments showed deceleration in credit growth

Bank of India posts Q3 PBT of Rs 119 cr after Rs 6,700 cr loss a year ago

Net interest income up 24% to Rs 4,118 cr; GNPAs at same level as last year

RBI accepts Kotak Bank promoters' plan to cap voting rights, reduce stake

Private lender withdraws writ petition from Bombay High Court

Bank unions reject IBA's 15% wage hike offer, to go ahead with 2-day strike

IBA offered a 15 per cent hike in wages, a revision over previous offer of 12.5 per cent at bilateral meeting of bank and trade union representatives to avert agitation by bank employees

PSU bank employees to go on two-day strike from Friday over wage revision

Earlier this week, a meeting with the Chief Labour Commissioner remained inconclusive, AIBOC President Sunil Kumar said