Page 772 - Finance News

No retrenchment of employees after merger of associate banks with SBI: Govt

During the Question Hour, he said that 6,950 branches have merged with SBI post amalgamation of banks

UCO Bank posts net loss of Rs 6.34 bn in Q1; NPA becomes 1/4th of advances

The provisions for bad loans were raised substantially to Rs 20.38 billion for the June quarter of FY'19 from Rs 12.04 billion a year ago

HDFC Bank Deputy MD Paresh Sukthankar quits after 2 decades with the lender

The bank said its board of directors places on record its appreciation for the contribution made by Sukthankar in his long association with the bank

Axis Bank takes Lanco Amarkantak to NCLT over Rs 9.2 bn loan claim

LAPL is a coal-fired power subsidiary of debt-laden infra firm Lanco Infratech, which itself is currently undergoing insolvency resolution process

SBI posts 3rd straight quarterly loss at Rs 48.76 bn, bad loan ratio drops

Gross bad loans as a percentage of total loans stood at 10.69 per cent from 10.91 per cent in the previous quarter and 9.97 per cent last year

RBI should focus on streamlining credit pricing, monetary transmission: IMF

Bank credit growth grew to 12.94 per cent as of the end of June 2018 on a year-on-year basis

3 tax notices under foreign black money law slapped on Nirav : Revenue Dept

The department has also attached 173 paintings and artworks and filed four prosecution cases against Modi

State Bank of India hopes to turn the tables in Q1 results on Friday

SBI chairman Rajnish Kumar, while announcing FY18 results, had said the year gone (Fy18) by was one of despair

PayPal partners with HDFC Bank to drive incremental digital spends

HDFC Bank has more than 35 million credit and debit cards issued in India, while PayPal is available in more than 200 markets globally

Scam-hit PNB in talks with govt agencies to sell old Delhi headquarters

The lender expects to raise nearly Rs 7-8 billion from the sale of its earlier head office in New Delhi

Govt gets fiscal deficit cushion, RBI to pay Rs 500-bn dividend for FY18

The RBI had last year transferred a surplus of Rs 306 billion as dividend to the government for the year ended June 30, 2017

Public sector banks see sound recovery from bad loan accounts in Q1

Quick resolution in NCLT; Q1 earnings could be a precursor to asset quality movement

Indian Bank Q1 net profit falls 44% to Rs 2 bn despite rise in income

Net NPAs fell to 3.79 per cent (Rs 59.98 billion) from 4.05 per cent (Rs 52.38 billion)

Reserve Bank of India to pay dividend of Rs 500 bn to Centre for FY18

The RBI follows July-June financial year

Have accepted RBI directorship in public interest: Swaminathan Gurumurthy

Never accepted any private or PSU directorship. Not even audit of PSUs or private company, say Swaminathan Gurumurthy

India Post Payments Bank to offer loans, MFs via third party tie-ups

Modi on August 21 will launch India Post Payments Bank (IPPB) with 650 branches across the country, which will pave way for the largest banking network

Ahead of LIC acquisition, IDBI gets nod to lower govt stake to under 50%

Post the transaction, IDBI Bank would become a subsidiary of LIC, which will have 51 per cent stake in it

Public sector banks drastically cut down on branch expansion in 3 years

State Bank of India too has reduced the pace of opening new branches, after its associates banks were merged with it in 2017-18

At Rs 9.4 bn, PNB posts straight quarterly loss on fraud-related provisions

As a result of higher recovery, the bank's net NPA declined to 10.58% in Q1 from 11.24% in the previous quarter and gross NPA shrunk to 18.26% against 18.38% of its loans

Masayoshi Son dials up a wrong number

A $30 billion IPO target for SoftBank Mobile is over-ambitious