Page 729 - Finance News

PSU bank officers on strike over wage revision, merger of BoB, Dena, Vijaya

Currently, banks have given mandate to the Indian Bank Association (IBA) to negotiate for bank employees from scale 1-3

FinMin's Alternative Mechanism gives nod for BoB, Dena, Vijaya Bank merger

The merged entity will have a combined business of Rs 14.82 trillion, making it the third largest bank after SBI and ICICI Bank

Govt to push RBI for exit mechanism from prompt corrective action for banks

The government's move to inject an additional Rs 410 billion into PSBs will be done in tranches starting this month

RBI cuts faculty allowance as Governor Shaktikanta Das appeals for calm

The bank cut faculty allowances of members at various training establishments to 10% of the basic, from 30% earlier, without giving any reason

CCI clears Hitachi Payment's 26% stake buy in SBI Payment Services

SBI will have a majority stake in the proposed JV

HC junks IDBI staff plea against LIC move to acquire 51% stake in the bank

The association was concerned that taking away public sector bank status of the IDBI could affect the employment conditions of its staff

PSU banks on strike: Here's how you'll be affected ahead of Christmas

Given that the public sector banks alone control 75 per cent of the total business in the country, the public is sure to face some inconvenience

Govt to infuse Rs 830 bn into PSBs, seeks Parliament's nod for Rs 410 bn

The infusion is aimed at helping better-performing banks under prompt corrective action (PCA) to come out of this category

RBI's new cybersecurity framework giving a tough time to all banks

While top banks can afford to purchase high-end deception technologies and build strong security operations centres but the smaller rural or cooperative banks may stand to lose

Shaktikanta Das to interact with private sector lenders next week

As part of the consultative process, Das finished meeting with the public sector lender on Wednesday

Banks to be closed for 5 days due to holidays, strikes in December

The banks will remain closed on December 22 and 23 on account of fourth Saturday and Sunday respectively. December 25 will be national holiday for Christmas

At Rs 36 million, new Axis Bank CEO's basic pay more than Shikha Sharma's

The shareholders also approved Chaudhry's appointment as MD & CEO for three years

Centre to seek interim payout from Reserve Bank: Subhash Chandra Garg

Statement comes a day after FM said govt doesn't need RBI money to bridge fiscal gap

RBI governor Das faces more than just regulatory, monetary issues

RBI's HR department issued a circular stating that the bottom 25% in the grade B to C and D to E won't get a promotion, a ceiling raised from the bottom 10% earlier

Govt likely to make additional capital infusion in state-owned banks: Garg

According to sources, the government is considering additional capital infusion of up to Rs 300-400 billion in PSBs as they have been unable to raise required funds from the markets

In RBI policy meeting, Urjit Patel had favoured status quo on repo rate

The RBI had kept the repo rate -- at which it lends to banks -- at 6.50% in the MPC review held between Dec 3-5

Decision on excess reserves should rest with RBI alone: Kaushik Basu

The issue of parting with a portion of RBI reserves, which as of June stood at Rs 9.43 trillion, to the government has been a contentious issue between the government and the RBI for a long time

RBI Guv Shaktikanta Das meets more PSB heads, discusses PCA, MSME credit

The lenders who attended the meeting included Bank of Baroda, Bank of Maharashtra, Allahabad Bank, Indian Overseas Bank, Indian Bank, Syndicate Bank, United Bank of India and Uco Bank among others

Changes in interest rates have impact short-term bonds: RBI-backed Study

The impact on shorter maturities builds over time and the peak impact occurs with a lag of around six months

RBI officers unhappy with new promotion policy, seek return to old system

With the new policy, only 75% of the officers with a particular rank would be promoted, while it was 90% earlier