Page 705 - Finance News

Vijaya, Dena to become Bank of Baroda from Monday; to work as BoB outlets

The government in September last year announced the first-ever three-way consolidation of banks in India, with a combined business of Rs 14.82 lakh crore

Branches of Vijaya, Dena Bank to function as BoB outlets from April 1: RBI

Earlier this week, the government decided to infuse Rs 5,042 crore in BoB to enhance capital base of the lender ahead of the merger

PNB to sell part stake in housing finance arm for Rs 1,852 crore

Both VardePartners and General Atlantic Group will buy 1.089 crore shares each at Rs 850 per share in the housing finance company

PNB to sell stake in PNB Housing to General Atlantic, Varde for Rs 1,851 cr

PNB has entered into an agreement to sell 1,08,91,733 equity shares held in PNB Housing Finance Ltd to Varde Partners at a price of Rs 850 per share, aggregating to Rs 925.80 crore

JPMorgan, Nomura job cuts add to shrinking staff in finance sector

Shrinking staff is an annual tradition for the biggest securities firms, which trim personnel in some areas to expand in others or dismiss under-performers to make way for an incoming class of junior

Bandhan Bank to soon comply with 40% promoter stake rule: C S Ghosh

In January this year, Bandhan Bank announced its merger with Gruh Finance, which will reduce the promoters' stake to about 61 per cent from close to 82.3 per cent

Catholic Syrian Bank gears up for listing, hires Axis Capital as adviser

The purpose of IPO is to have a diversified shareholding

Exotic derivatives can make GIFT a viable global financial hub

Experts say it is about time RBI lift the ban on such derivatives but there aren't enough natural safeguards if the deals are misused by writers and marketers of the contractors

Bandhan Bank-Gruh Finance merger to give a big push to affordable housing

Bandhan Bank's merger with Gruh Finance would reduce the non-operative promoter Bandhan Financial Holding to 61% from 80%

India's first foreign owned bank is preparing for a $58 million IPO

Last year, Toronto-based Fairfax agreed to invest $168 million for a 51% stake in the Syrian Catholic Bank, the first time the RBI allowed a foreign firm to take a majority interest in a local lender

Govt to infuse Rs 5,042 cr into BoB ahead of merger with Dena, Vijaya

The government in September last year had announced merger of Vijaya Bank and Dena Bank with Bank of Baroda, aiming to create the third-largest lender after SBI and ICICI Bank

Sebi exempts govt from making open offer for shareholders of PNB

Sebi, however, directed reduction in non-public shareholding in the lender post capital infusion

Bank credit clips at 14.5%; deposits grow in double-digits at 10%: RBI data

In the year-ago fortnight, advances were at Rs 83.46 trillion and deposits at Rs 111.11 trillion

Jewellers re-start monthly deposit schemes after two weeks of suspension

Experts believe the schemes are very much within the definition of 'deposit' but clarity is needed based on intent

RBI likely to cut repo rate by 25 bps in April policy: Goldman Sachs report

The brokerage had earlier expected no change in the policy rate in the April meeting

RBI's rupee-dollar swap auction to ease liquidity gets a big thumbs up

The idea behind the swaps is to infuse rupee liquidity by buying dollars

Delhi court summons 11 top PNB officials for violating banking regulations

RBI said the accused willfully and deliberately gave false information in their compliance report

RBI accepts $5 bn from banks at currency swap auction to ease liquidity

RBI has bought 3 trillion rupees of debt this financial year

BoB to develop agri-digital platform 'Baroda Kisan', inks MoUs with 6 firms

Farmers are an integral part of India, and 'Baroda Kisan' is a dedicated platform created to ease their requirements, the bank said

RBI imposes Rs 2-cr penalty on PNB for non-compliance of SWIFT operations

Earlier this year, the RBI had imposed penalties worth Rs 71 crore on 36 public, private and foreign banks