Page 770 - Finance News

Kerala banks to reschedule loans, not to charge for new cheque books

The state Level Bankers Committee, Kerala, at its emergency meet on Tuesday also decided to announce a moratorium on education loan for a period of six months and all other loans for one year

FIBAC 2018: No change in inter-creditor agreement, says Sashakt panel chief

There will not be any change in ICA document. IBA will issue operational guidelines, says Sunil Mehta

Under probe, Kochhar eyes becoming director on ICICI Securities board again

Chanda Kochhar is also a director for ICICI Lombard General Insurance, ICICI Prudential Life Insurance Company and ICICI Prudential Asset Management Company

Odisha asks banks to take services to 2,382 villages by Sept 2018

A list of unbanked villages has been prepared and shared with the banks

RBI asks IL&FS Financial to reduce loans to group firms by March 2019

The RBI asked IL&FS Financial Services, a 100 per cent subsidiary of IL&FS, to bring its exposure down within a year

Govt's amendments must to boost credit bureaus, says NS Vishwanathan

Vishwanathan said formalisation of Medium, Small and Micro enterprises (MSMEs) is important for financial stability of the system

SBI charges for non-maintenance of minimum balance unfair: Report

According to financial ministry data, the SBI collected Rs 24.34 billion for the financial year 2017 in penalty on non-maintenance of minimum balance alone

Big cracks surface among banks over inter-creditor agreement pinpricks

IBA's legal advisor to hold bankers meet on Sept 7

Lending to MSMEs can become Rs 15-trn business in next 5 years: Study

Of the total formal credit of around Rs 100 trn, only 25% is extended to MSMEs currently

PNB scam: Ex-MD Ananthasubramanian, named in CBI chargesheet, gets bail

Usha Ananthasubramanian was the MD & CEO of PNB before moving to Allahabad Bank, from where she was dismissed as MD & CEO on Aug 14

UK authorities confirm Nirav Modi's presence, CBI seeks extradition

On July 2, the Interpol had issued a Red Corner Notice (RCN) against Nirav Modi under money laundering charges levelled by the Enforcement Directorate

SBI charges for minimum balance during FY17 unreasonable: IIT-B report

For the month of April 2017, SBI recovered Rs 2.35 billion as penalty

Govt decides against removing RBI nominees from PSB boards, cites NPA issue

Urjit Patel had said in June that no central bank nominee should be on the board of PSBs in a bid to avoid "conflict of interest"

Bank of India puts on sale 50 corporate NPAs with Rs 55.57 bn outstanding

The aim is to conclude the sale before the end of September to get the benefit of reduction in NPAs and better recoveries in the second quarter

Public sector insurers lose market share to merger plan delay: Irdai data

Three insurers are yet to appoint a merger consultant, while private rivals are cornering the market

Banks set to get data rich with UPI 2.0; likely to boost credit scoring

The updated payments system comes with new features such as the ability for people to link their overdraft accounts to the UPI app

Safecrop Holdings to acquire stake in Star Health Insurance for $1 bn

Founded in 1996, Star Health was the country's first standalone insurance company and claims to be the largest such domestic firm

Icra downgrades long-term rating for Syndicate Bank's Basel-III bonds

The rating downgrade factors in the bank's weak financial performance

Bad loans of listed domestic banks shrink by Rs 220 billion in Q1

Persistent efforts of recovery from a variety of loans - large-size, medium-size and small enterprises, retail and farm sector - are beginning to bear fruits

Bandhan Bank waiting for RBI guidelines on meeting promoter holding norms

RBI's licensing norms require a bank to bring down promoter holding to 40 % within 3 years of operation - which, for Bandhan Bank, will be by Aug 23