Page 645 - Finance News

Nepal SBI post 13% growth in net profit at Rs 229.25 crore for FY19

The bank mobilised total deposit of Rs 9,72.44 crore and extended loans and advances of Rs 8,864.47 crore at the closing of the year, according to a statement issued by the bank

YES Bank shares tumble 10% after Moody's downgrades foreign currency rating

The scrip settled the day at Rs 56 on the BSE, down 9.82%

30 committees monitoring the Canara-Syndicate Bank merger process

After the merger, the combined entity will also see a higher number of chief general managers

LIC, SBI, Bank of Baroda get until Dec 2020 to bring UTI MF stake below 10%

Sebi to freeze shareholding if extended deadline not met

Irdai may allow merged state-run banks to hold over 10% in insurance firms

Some of the 10 public sector banks that are merging into four are promoters of insurance entities as well

Digital India push: From December 16, you can make NEFT transfers 24x7

NEFT transactions are settled in hourly batches. For weekdays, the batches are from 8 am to 7 pm. On first and third Saturdays, the settlement happens from 8 am to 1 pm

Bank of India to raise up to Rs 10,000 cr through bonds, preference shares

The state-owned lender said the board approved issuance of up to 125 crore fresh equity shares through qualified institutions placement, public issue, rights issue

Bank of America opens Global Business Services Center at GIFT-IFSC

The new centre will allow BoA to raise debt in international currency, even as the foreign bank launched two Indian bond auctions at its platform in GIFT-IFSC

Axis Bank looks for successor as CFO Jairam Sridharan puts in papers

Sridharan joined Axis Bank in June 2010 and was made CFO in October 2015. He was previously with Capital One Financial, a consumer bank based in the US

RBL Bank raises Rs 2,025 cr from Bajaj group, other investors

Bank says it concluded the QIP at an issue price of Rs 351 per share pursuant to the allotment of 57.7 million equity shares

In 3 years, banks gave $745 bn to cos planning new coal power plants: NGOs

The report released by environmental groups on Thursday cites more than 1,000 new coal power stations or units in the pipeline

Canada's CPPIB to invest up to $600 million in Indian infrastructure fund

The deal includes a commitment of $150 million in NIIF's Master Fund and co-investment rights of up to $450 million in future opportunities to invest alongside the Master Fund

Bombay HC junks PMC Bank depositors' plea for lifting withdrawal cap

On September 23, the RBI had imposed regulatory restrictions on the PMC Bank for six months over alleged financial irregularities

Maharashtra govt suggests troubled PMC Bank's merger with MSC Bank

At least eight depositors, who had high quantum of money stuck with the bank, died in the last couple of months, including one who committed suicide

RBI raises P2P lending limit five-fold, cap on single-party exposure stays

Apex bank also does away with requirement of escrow accounts run by a bank-promoted trustee for transfer of funds

Final report on PMC Bank is expected by Dec-end: RBI guv Shaktikanta Das

A call will be taken on further course of action once the RBI gets the report

RBI keeps repo rate unchanged at 5.15%, stance stays accommodative

The market and economists were expecting a sure cut in the policy review, considering the weak growth rate

RBI monetary policy review: Client exposure norms for UCBs to be tightened

The RBI said it would amend the guidelines for UCBs to reduce concentration risk in exposures

Corporate lending facing demand slowdown, muted growth, says SBI MD

Retail lending, however, is growing at a decent rate, the bank said

Despite RBI's accommodative stance, analysts expect long pause on rate cuts

All these analysts agree that a rate cut is on the table but are not the same page on the timing though