Page 664 - Finance News

PMC Bank scam: EOW arrests HDIL's Rakesh Wadhawan, Sarang Wadhawan

ED registers money laundering case in PMC Bank loan fraud

Former MD Joy Thomas arrested as crackdown in PMC Bank scam continues

Joy Thomas was arrested by the Mumbai wing of the Economic Offences Wing after the Reserve Bank of India (RBI) took charge of the bank

With Sensex down over 3% since Sep 23, banking crisis may prevent bull run

That has erased almost half of the surge sparked by the Sept 20 announcement of a landmark corporate tax cut

Till March, Rs 2,000 notes were 50% of all notes, reveals RBI annual report

As of March, Rs 2,000 notes made of Rs 6.57 lakh crore of the total notes in circulation

Investors struggle to cut losses as shadow banking crisis deepens

Trading in NBFC bonds slid to a five-month low of about Rs 75,520 in the secondary market in September, the lowest since April

Demonetisation impact: People's currency holding habits impacted, says RBI

As on October 27, the total currency in circulation (CIC) was lower by 8 per cent on a year-on-year basis

Demonetisation hit RBI's seigniorage, increased printing cost: SBI Research

The net transfer of profits to the Union govt has fallen drastically during this year by 53.5%

Note ban has and may continue to result in a slowdown, warns SBI

Also says that note ban's impact could adversely affect its business

Axis Bank dismisses 24 staffers, suspends 50 accounts after I-T raids

A preliminary report is expected in 10 days, final report in three weeks

Cash is still king as circulation nears pre-demonetisation level: Report

As on June 16, currency in circulation was Rs 15.29 lakh cr, or 86.2% of pre-note ban level

99% of banned notes returned after demonetisation: RBI annual report

RBI annual report says Rs 15.28 lakh cr of the junked currency came back, leaving only Rs 16,050 cr

RBI annual report: 0.76 mn pieces of counterfeit notes detected in FY17

During 2015-16, 6.32 lakh pieces of fake currency notes had been detected

Junked currency notes deposit data to be revealed after June, says RBI

Adds, final numbers will be divulged when all windows for depositing old notes will be closed

Note ban might affect some sectors in Q4: RBI

Remonetisation should be completed in 2-3 months, says RBI Deputy Governor Viral Acharya

Bank staff union ask for additional infrastructure to handle demonetisation

In 2015-16, as against the indent of 535 crore pieces of Rs 100 Notes, the supply received was only to the tune of 490 crore pieces, says the Union

YES Bank plans to raise $1 billion by December through rights issue

According to an investment banker, the bank has received interest from both global PE players and Indian family offices; potential investors may buy stake ahead of the rights issue in the open market

Corporate tax cut will not benefit banks: PNB MD & CEO S S Mallikarjuna Rao

In an interview with Somesh Jha, Rao spoke about the road map of the amalgamation and how the corporate tax cut and repo rate-linked products will impact the finances of banks

India's shadow bank crisis is over, lenders more positive: IndusInd Bank

IndusInd joins Axis Bank Ltd. and Edelweiss Financial Services Ltd. in predicting that the Indian financial sector's woes will ease soon

Waryam Singh, former chairman of PMC Bank, arrested by Mumbai Police

This is a fourth arrest in the case

Joy Thomas in police custody till Oct 17, lawyers say he's the fall guy

His lawyer Rakesh Singh argued that Thomas was just an employee of the bank and not a decision-maker and was being made a scapegoat as the loans turned out to be bad