Page 783 - Finance News

SBI MD Sriram retires with Centre's nod amidst IDBI stake sale buzz

The development assumes significance as Sriram was recently appointed the chief of financially troubled IDBI Bank

Irdai allows LIC to buy up to 51% stake in debt-ridden IDBI Bank

LIC, which holds stakes in several banks, will also need the Reserve Bank of India's (RBI's) approval to own such a large stake in IDBI Bank

Ex-bureaucrat Girish Chandra Chaturvedi named ICICI Bank chairman

Chaturvedi's appointment for three years is effective from Sunday or 'the date of receipt of RBI approval for such appointment, whichever is later,' ICICI Bank said

Bank of Maharashtra board takes away Marathe, Gupta's executive powers

Bank executives said the proposal was moved by representative of the government, which holds a majority stake in Pune-based bank

Reserve Bank of India to take action against erring bank auditors

Any action taken on an audit firm, including serving a caution notice, will be communicated to the ICAI, and such communication will be placed in the public domain by RBI

Bank of Maharashtra divests CEO and executive director of their powers

Last week, Economic Offence Wing of Pune police arrested Bank of Maharashtra's MD and CEO Ravindra Marathe

Irdai permits LIC to pick up to 51% stake in debt ridden IDBI Bank

IDBI Bank is grappling with mounting toxic loans with gross non-performing assets rising to a staggering Rs 556 bn

PNB sets up centralised loan processing centre to improve quality credit

This will ensure improved turn-around-time, separate Pre- and Post-sanction responsibility and enable qualitative credit assessment

IDBI Bank says 'no discussion' on Rs 130-bn capital injection plans by LIC

This clarification came following news reports saying that insurance regulator Irdai may approve LIC's proposal to pick up a substantial stake in IDBI Bank

Girish Chandra Chaturvedi named ICICI Bank's non-exec part-time chairman

The bank will now send Chaturvedi's name to the Reserve Bank of India for clearance

LIC plans Rs 130-bn capital injection in IDBI Bank; Irdai may ease 15% rule

The board of Irdai, which is meeting on Friday, may grant exemption to LIC from the rule that bars an insurer from holding more than 15% equity stake in any company

Who'll be the next ICICI Bank chairman? Board shortlists ex-IAS officials

The appointment of the new chairman comes at a time when ICICI Bank is battling one of its worst management crises

Payment companies starved of govt subsidy on digital payments

In December 2017, the government issued a gazette notification agreeing to waive off fee from digital transactions up to Rs 2,000

B Sriram resigns as SBI MD, takes charge as IDBI CEO amid stake sale buzz

Sriram is the longest-serving public sector bank MD and has wide experience, including in stressed assets management

Indian Bank withdraws plans to pay dividend after RBI censures proposal

The bank had recommended payment of Rs 6 per share last month for the year ended March 31

Why proposal for bad banks to take over toxic assets may be dead on arrival

Most supporters point to the success of the Troubled Asset Relief Program (TARP) in the United States in the aftermath of the Lehman Brothers crash in 2008

India among countries least vulnerable to currency pressure: Moody's

Moody's said India's large and relatively stable domestic financing base limits external vulnerability

Indian Bank to withdraw dividend payment resolution after RBI's reply

Indian Bank's Board on May 10 has recommended for payment of dividend at Rs 6 per share of the equity capital for 2017-18

State Bank of India to shut 9 foreign offices as part of rationalisation

As per the banking sector agenda approved at the PSB Manthan in November last year, public sector banks (PSBs) were asked to examine all of 216 overseas operations

24.5% more consumers in retail lending, delinquency rates declined: CIBIL

While delinquency rates for credit cards and home loans rose moderately by 9 basis points and 4 basis points, respectively, loans against property saw a steep rise of 33 basis points