Page 633 - Finance News

RBI revises norms for faster resolution of Urban Co-op Banks' bad assets

The move comes in the backdrop of the scam in Punjab and Maharashtra Cooperative (PMC) Bank causing distress to over 9 lakh depositors

National Financial Reporting Authority to hire legal, finance experts

The independent watchdog for auditing profession has sought applications for 10 posts of consultants and senior consultants on one-year contract basis

Power bill over Rs 100,000 or owning house jointly? Can't use ITR-1 form

ITR 1-Sahaj is for individuals having an annual income of up to Rs 5 million from salaries, a house, interest income, family pension income, etc. The form will require passport details

UCO Bank optimistic of coming out of RBI's PCA framework in FY20

The framework is used to put lenders with high non- performing assets, weak return on assets and low capital adequacy ratio on a short leash

ITR-1 form not for those paying Rs 100K in power bill, owning house jointly

The government, which usually notifies forms for filing income tax returns by individuals in April every year, on January 3 notified tax return forms for assessment year 2020-21

Claims worth Rs 4,800 cr admitted from fixed deposit holders of DHFL

Following an NCLT order dated December 3, Subramaniakumar, through a public notice, had asked all the creditors including fixed depositors to submit their claims by December 17

$5-trillion economy achievable but time frame uncertain: SBI Chairman

Speaking at an interactive session organsied by FICCI, Rajnish Kumar said private investment was necessary for achieving the target

Karur Vysya Bank MD and CEO P R Seshadri resigns citing personal reasons

The Board of Directors of the Bank accepted the resignation on the day and he will be relieved from services on March 31, based on his request

Indian Overseas Bank gets Rs 4,360 cr from Centre for meeting norms

In a regulatory filing to the stock exchanges, the bank said it has received the amount as contribution of the government in preferential allotment of equity shares during FY20 as govt's investment

BoB directors to finalise plans to raise capital at Jan 8 meeting

CRISIL believes BoB will be able to maintain adequate capitalisation over the medium term, backed by capital support from the Union government

RBI says rehabilitation benefits to be extended to J-K bank borrowers

The bank, it said, has accordingly initiated the process to implement rehabilitation package to its borrowers

Indian Overseas Bank receives Rs 4,360-cr capital infusion from govt

In August 2019, the Finance Ministry had announced capital infusion of Rs 3,800 crore which was later increased by Rs 560 crore

Taking steps for smooth functioning of branches on Jan 8: Syndicate Bank

Ten central trade unions have called a nation-wide general strike on January 8 'to protest against anti-labour policies' of the government

HDFC cuts interest rate by 5 basis points with effect from January 2020

For customers with loans above Rs 75 lakh, the effective rate will be 8.45 per cent. For women borrowers in each loan category, the effective rate is 5 bps lower

SBI planning to sell 5 million shares representing 1.01% stake in NSE

Currently, State Bank of India (SBI) holds 5.19 per cent stake in the exchange

Revenue Secy asks tax officials to put special efforts to check evasion

Direct tax collection target for the current fiscal has been pegged at Rs 13.35 lakh crore despite corporate tax relief of 1.45 lakh crore

Bank of Baroda raises Rs 920 cr via private placement of Basel III bonds

The issue which opened on Thursday and closed the same day, saw a total of 11 allottees through private placement of bonds, the bank said in a BSE filing

India extends $75 mn line of credit via EXIM Bank for solar parks in Cuba

Banco Exterior De Cuba is a nominated agency of the Government of Cuba

Podcast: Nirmala Sitharaman's various moves to help revive the economy

Finance ministry is working out mechanism to release the money, stuck after it sanctioned the amount to other ministries & departments for various projects and schemes, to prop up the sagging economy

SBI will create unit to manage rural, semi-urban business: Rajnish Kumar

Under financial inclusion, the bank has about 58,000 BCs and 22,010 branches across the country to offer banking services