Page 765 - Finance News

BoB, Dena, Vijaya Bank to merge; process completion may take 4-6 months

Amalgamated entity to be third-largest lender; govt to continue to provide capital support

Merger of BoB, Vijaya Bank, Dena Bank to give a fillip to lending capacity

But swap ratio should not be biased against stronger banks, say experts

Banks' credit costs to stay at 2-3% till FY20, says India Ratings

The rating agency has kept a stable outlook for private banks and two PSBs - SBI and Bank of Baroda. The outlook for the rest of the PSBs remains negative

Private banks, NBFCs eat into state-run lenders' pie of MSME loans

11 PSBs are under the Reserve Bank of India's prompt corrective action framework

Govt to merge state-owned Vijaya Bank, Dena Bank and Bank of Baroda

The merger will create India's third-largest lender

Adani Capital to raise Rs 10 billion in FY19, mostly through bank loans

The proposed long-term bank facilities have been assigned AA- rating from Crisil

SBI names Prashant Kumar, a 35-year veteran at the bank, as its CFO

He was spearheading the largest Human Resources department of the banking Industry consisting of a workforce of more than two lakh seventy thousand employees

Not willing to relax norms, RBI opts out of panel on stressed power assets

According to sources, no RBI representative turned up for the first and second meeting of the panel held on August 31 and September 14

Nirav Modi effect: Union Bank of India quits Antwerp diamond hub in Belgium

Banks have become very cautious with regard to diamond finance after the country's biggest fraud of about Rs 140 billion

BoI looks to raise Rs 10 bn via sale of non-core assets, real estate

The bank is planning to sell its entire stake in STCI Finance

Modified Jan Dhan: No of accounts swell to 326.1 mn; Rs 12.66 bn increased

During the August 15-September 5 period, the total deposits in 32.61 PMJDY accounts witnessed an increase of Rs 12.66 billion

Insolvency process: Banks to seek RBI clarity on SC's status quo order

In February, RBI, through a circular, subsumed all internal debt resolution mechanisms that were available to banks, and directed them to recognise NPA and corporate defaults in a uniform manner

SBI denies any laxity on its part in dealing with fugitive Mallya case

Mallya left the country on March 2, 2016 while 13 banks moved the apex court four days later seeking its intervention to prevent the businessman from leaving the country

RBI to purchase G-secs worth Rs 100 bn next week to induce liquidity

The RBI proposes to purchase G-secs having five different maturity dates

YES Bank to raise Rs 30.42 bn issuing Basel-III compliant bonds

The bonds, set to mature on September 15, 2028, carry coupon rate of over 9.11 per cent payable annually

HDFC Bank uses WhatsApp, email to reach out to customers dodging compliance

The bank has been adopting this method after a Supreme Court appointed amicus curiae recommended closure of proceedings in all cheque bounce cases through digital means

When cutting interest rates might not help in determining good policy

Whether there is a floor beneath which cuts in interest rate are ineffective depends in part on house prices

Exim Bank expects merchandise, non-oil exports to grow over 12% in Q2 FY'19

Merchandise exports during September quarter 2017-18 stood at $74.21 billion and non-oil exports stood at $65.17 billion

PNB puts nearly two dozen NPAs on sale to recover over Rs 13.20 billion

"We intend to place these accounts for sale to ARCs/NBFCs/other banks/FIs etc, on terms and conditions stipulated in the bank's policy, in line with the regulatory guidelines," PNB said

PNB puts 21 NPA accounts on sale to recover over Rs 13.2 billion

The accounts include Moser Baer Solar, Divine Alloys & Power Co Ltd, Divine Vidyut, and others