Page 796 - Finance News

Now, PSBs will report frauds to CBI with new monetary limits set by RBI

The Central Vigilance Commission has cited a circular from RBI and asked the banks to comply with it

Government likely to withdraw tax notice on free banking services

Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided

Federal Bank Q4 net down 43% at Rs 1.45 bn on higher provisions, bad loans

Bank has made accelerated recognition of sensitive assets and treated them as NPAs and made provisions for it

India's stressed, debt-laden banks getting cheap overseas loans now

Strengthening sentiment has increased access to the offshore loan markets for investment-grade domestic lenders

Wage row: Bank unions seek govt intervention, set May 12 deadline

According to the AIBEA, in 2016-17, while the gross operating profit of banks was about Rs 1,590 billion, the provision for NPAs was around Rs 1,703 billion

NBFCs scoop up talent from banking industry amid rising growth

While banks are struggling to come out of the bad loan mess, NBFCs are in a sweet spot of rising consumer demand

Videocon loan case: Govt nominee to stay away from ICICI Bank board meet

Ministry to wait for feedback from RBI, probe agencies in Videocon loan deal

Can terms of reference of Finance Commissions be changed? Yes, say experts

Precedents such as changes in the ToR of the 14th Finance Commission following the creation of Telangana

Govt mulls action against bank officials whose names cropped up in frauds

In recent months, many frauds in the banking sector, including those involving diamantaire Nirav Modi have come to light

PNB scam: Bank of India starts proceedings to recover Rs 2 bn

Diamond merchants Nirav Modi and his uncle Mehul Choksi are alleged to have perpetrated the country's biggest banking sector scam of Rs 13 billion at Punjab National Bank, mainly by way of issuance of

ICICI Bank Q4 net profit halves to Rs 10.2 bn, bad loan provisions surge

The March-quarter profit is the lowest for the bank in the last eight quarters, and a tad lower than Rs 10.6 billion estimated by analysts polled by Bloomberg

South Indian Bank to raise Rs 7 bn via QIP to fund its 20% growth target

Lender may look at diluting 10-12%, will focus more on retail, agriculture and MSME (RAM) and reduce dependence on its corporate book

Bank works under and abides by regulatory norms, says Chanda Kochhar

Further, Kochhar said that she has taken the allegations as a professional and that they have not unfazed her

ICICI Bank Q4 profit dives 50%, bad loan provisions surge: Highlights

ICICI Bank Q4 results come against the backdrop of a series of allegations of impropriety in ICICI Bank's extending loans to some companies

Finance ministry gears up for second round of PSB recapitalisation

FinMin seeks status report on reform plan by May 11

Cost-cutting measures: Banks close 2,000 ATMs in 10 months

Cost-cutting measures by banks, which has led to rationalisation of branches has been one of the key reasons for reduction in the number of ATMs

Nirav Modi fraud-hit PNB aims to grow its total business by 10.8%

PNB has been actively working towards reducing people risk and improving internal systems over the past few weeks

Rs 6.21-bn UCO Bank fraud: Enforcement Directorate files case under PMLA

The ED will probe if the alleged defrauded bank loans were used to create tainted assets by way of money laundering

PNB's bad-loan woes mount to over Rs 151 bn on back of Nirav Modi fraud

The public sector lender has been putting out the names of wilful defaulters and firms since June 2017. Within ten months, these defaults have grown by 28%, from Rs 118.79 bn

Court declares ICICI Bank's option contracts with garment exporter as void

Garment maker Freelook Fashions claimed the bank issued hedging contracts in dollar and franc, when requuirement was for Pound and Euro