Page 674 - Finance News

Indian Bank expects to merge with Allahabad Bank by end of FY20: Official

The merger of Indian Bank and Allahabad Bank will create a robust entity with a pan-India presence, she said

ICICI Bank targets 23% retail loan growth at Rs 4,900 cr in UP during FY20

The private sector lender to lean on two segments of the business, namely consumer loans and mortgages

Bank merger will slow down loan growth, rivals likely to benefit: Analysts

Futures contracts on India's Nifty 50 Index dropped 1% in Singapore on Monday

Banks to seamlessly share data on frauds through dedicated exchange

The idea to create the exchange is the brainchild of three public sector banks - Bank of India, Bank of Baroda and Allahabad Bank

Banks meet on Sep 4 to discuss merger; SBI and BoB to share expertise

Lenders to be merged into a single entity to also hold separate meetings to chalk out roadmap; April 1 seen as pragmatic deadline for amalgamation

From return on assets to employee cost, private banks surpass PSBs

The cost per employee is the highest in large public sector banks

Stress in the agriculture sector is significant, says Punjab & Sind Bank MD

Punjab is an important area of operation for the bank, says S Harisankar

Forensic audits business expected to boom as RBI prepares new norms

RBI's Annual Report for FY19 says the number frauds went up by 15% to 6,801 cases

Fintech panel suggest legal framework to protect digital services consumers

The report said the Department of Financial Services should work with PSU banks to bring in more efficiency to their work and reduce fraud and security risks

25-quarter low GDP growth to hit bank earnings, increase asset quality pain

Besides recent corporate slippages, slowdown would impact unsecured retail loans, farm and micro finance loans, commercial real estate and NBFCs and poorly-rated corporates with risk of downgrades

Latest PSB merger could create Rs 5,000 cr business in IT outsourcing

Including consultancy companies, around Rs 5,000 crore of business could be generated

DBS lowers India's FY20 GDP growth to 6.2%; expects another rate cut in Dec

Real GDP slowed to 5% year-on-year in 2Q (first quarter of FY20) from the first quarter's 5.8%, below DBS' sub-consensus and market expectations

Indian Bank adopts repo rate as external benchmark for asset products

Under the new regime, home loans can be had at 8.2% a year, while four-wheeler loans will carry 8.85%, which the lender says is the lowest in the market

Bank scam: SC refuses to interfere with HC order for FIR against Ajit Pawar

While disposing of the petition, the bench observed, that the case involves huge money and investigation cannot be stopped

Branch rationalisation to HR challenge: Brokerage view on PSB consolidation

Unlike private banks, most PSBs, analysts say, do not have clear specialisations and end up competing against each other

No silver bullet: Benefits of bank mergers to be visible only in long term

Whether folding one weak bank into another will make the combined entity any stronger remains to be seen

Govt's mega bank overhaul may hurt NPA clean-up, fight against growth slump

Any more debt repayment delays or defaults risk reversing an expected recovery in India's gross bad loan ratio and worsen a widening shadow bank crisis

PSBs consolidation building block for $5 trillion economy: Finance secy

The consolidation will help create strong and globally competitive banks with economies of scale and enable realisation of wide-ranging synergies, he said

Market salary for a few in a public sector bank could be a chimera

The possibility is that high calibre chief risk officers in the PSBs already earn Rs 1 crore to Rs 2 crore, whereas even SBI chairman could be earning less than Rs 30 lakh

Not a single job will be lost due to merger of banks: Nirmala Sitharaman

Nirmala Sitharaman was replying to a question on the bank employees unions opposing the merger plan on the ground it would lead to loss of jobs.