Page 794 - Finance News

Union Bank receives board's approval to raise Rs 74 bn in current fiscal

The bank has capped the money to be raised from additional tier I (ATI) bonds or tier 2 bonds to Rs 37 billion within the overall capital raising limit of Rs 74 billion

Why RBI putting state-run banks under PCA does not panic depositors

A panic, in fact, is in the stock market, where the shares of these banks have been clobbered; this relative tranquility is a contrast with the developments in the undivided UTI of 2001

Investors shun bonds of banks under RBI's prompt corrective action

IOB last of such banks to recall bonds as RBI goes for $100 bn open market purchase

Nirav Modi scam: Sebi raps PNB for disclosure lapses in quarterly results

Regulator also cites delays in lender's filings with stock exchanges, but lets it off with a warning

PCA shadow on PNB, Canara, Union Bank; DFS to meet 11 executives today

The day-long meeting would be the first review of the banks after the RBI put them under PCA

HDFC's subsidiary HDB to raise $150 mn from IFC in senior debt investment

The proposed IFC debt facility will enable HDB to expand its individual micro & small business loan portfolio in the low-income states (LIS) of India

80% of Indians now have a bank account. So why is financial inclusion low?

No more than 1% of PMJDY account holders-3.1 million beneficiaries-use overdraft facilities available to them, and 17% of PMJDY accounts are 'zero-balance'

Record losses the first sign of greater pain ahead for PNB in FY19

Bank has to carry forward Rs 100 billion provisioning in FY19 while weak capital base will impact growth of advances

PNB fraud: Allahabad Bank board divests CEO of functional powers

Ananthasubramanian was MD and CEO of PNB between 2015 and 2017, before moving to Allahabad Bank

Free banking services, including ATM withdrawal out of GST: FinMin official

The Department of Financial Services had approached its revenue counterpart to clear the confusion over the levy of GST on some of the free services offered by banks to their customers.

Two independent directors quit IDBI days after FIR in Aircel loan case

Ninad Karpe and S Ravi, were named in the FIR filed by the CBI in connection with a Rs 6 bn loan given by the bank to former Aircel promoter C Sivasankaran, his son and companies controlled by him

How RBI changed its tone to direct one

The RBI now brings in important and contentious changes directly through voluminous Master Directions, or Master Circulars

NPA provisioning to hit PNB results; to report loss of Rs 27 billion in Q4

Fraud-related provisioning besides RBI's new NPA rules to hit the bank sharply

Oriental Bank of Commerce net loss widens to Rs 16.5 bn in Q4; NPAs up 10%

Total income of the bank during the January-March quarter of 2017-18 came down to Rs 46.89 billion, against Rs 50.94 billion

PNB fraud: CBI names 2 EDs, ex-CEO Usha Ananthasubramanian in charge sheet

Central Bureau of Investigation (CBI) found their involvement in the Rs 140 billion fraud related to group of companies belonging to Nirav Modi and Mehul Choksi

RBI net buys $996 million from spot market

In FY18, RBI had net purchased USD 33.689 billion from the spot market

RBI puts fresh lending restrictions on Allahabad Bank

Recently, the RBI not only debarred Dena Bank from extending fresh credit in view of the deteriorating financial health, but also debarred the lender from recruiting staff

Punjab National Bank to provide Rs 35 billion for fraud loss last year

The announcement of the results is set to be a low-key affair; a press conference is unlikely, in a departure from the past

PSBs' bad loans hit Rs 6.89 trn, or the cost of electrifying half of India!

In the decade to 2016, bad loans in the non-priority sector rose more than 22-fold

After Dena Bank, more PSBs may be told to stop fresh lending

Apart from Dena Bank, the credit and financial profiles of Bank of Maharashtra, Oriental Bank of Commerce, Allahabad Bank and UCO Bank are in bad shape - all these are under PCA