Page 801 - Finance News

PNB scam: ICAI sends notices to statutory auditors of Brady House branch

This is a primary investigation and the board wants to ascertain whether the auditors were at fault

IDBI Bank prepares roadmap for NPA reduction, improving financial health

Strategies have been drawn to ensure that the NPAs are reduced in a structured manner by taking help of Insolvency and Bankruptcy Code (IBC) and other means

CVC seeks details of frauds from banks to devise preventive mechanism

CVC said the exercise to collect and analyse data is to find out what kind of frauds are happening in the banks

Banks' NPAs to rise by Rs 80 bn in Q4 on account of Gitanjali Gems

Till December 2017, the loans to Gitanjali Gems were standard and regular debt servicing was being done

Rs 6.21-billion fraud: CBI books former UCO Bank CMD Arun Kaul, others

Kaul, who was the CMD of a Kolkata-based bank between 2010 and 2015, allegedly facilitated the accused company in obtaining the loan

Reclassification helps govt rein in fiscal deficit to 3.4% of GDP in FY18

The total non-tax revenue for 2017-18 was already revised downwards to Rs 2.36 trillion from Rs 2.9 trillion

DCB Bank Q4 net profit rises to Rs 640 mn on increase in operating profit

It had posted a profit after tax (PAT) of Rs 530 million in the year-ago period

Tracking Rs 2.7-trillion credit growth in last fortnight of FY18

The spurt in credit disbursed by the Indian banking system driven mostly by rise in corporate and industrial credit

ED finds 47 entities related to Nirav Modi doing Rs 60-bn 'round-tripping'

Out of these 47 entities, 10 are registered in Belgium, three in US, 13 in UAE, eight in Netherlands and rest in India

CRISIL reaffirms stable rating for ICICI Bank debt instruments

The rating agency said ICICI Bank's exposure to the Videocon group is 'in itself not material in the context of its outstanding loan book or capital'

IDBI Bank mulls buyback of $1-bn overseas bonds as part of turnaround plan

The buyback activity would be spread over quarters and would be done in small tranches for reasons of absorption

Despite bankers' plea, RBI is unlikely to change its new NPA norms

Banks have pleaded on the Feb 12 directive, tightening the leeway earlier given; however, the regulator seems unlikely to yield

Now PNB tightens norms to separate loan appraisal and monitoring teams

Recently, the bank has faced a multi-billion fraud related to the Nirav Modi and Gitanjali Diamonds group

Bank unions say time is ripe for nationalisation of private sector banks

Many private sector banks which are pampered by the government are in crisis, and ICICI Bank and Axis Bank are the examples, AIBOC General Secretary D T Franco said in a statement

Canara insurance arm may break even for the first time at end of this year

The company will break even for the first time at the end of this year, senior executives say

Sebi initiates probe into alleged corporate governance breaches at ICICI

Seeks info on recent board meetings, independent directors' stance and disclosure compliances in Videocon loan controversy

PNB scam: CBI questions 2 DGM-level officers of SBI's foreign branches

The $2 billion scam became public in January after the CBI registered an FIR in the matter, but by that time both the high-profile jewellers had left India with family

ICICI loan case: Dhoot's aide among two NuPower directors questioned by CBI

The NuPower director was asked about the help he extended to Videocon in securing the loan from the ICICI Bank

Indian banks need to improve risk management, governance practices: S&P

Axis Bank's risk management is seen as weaker than that of private sector peer HDFC Bank Ltd

Rs 130-bn PNB scam: Probe under way; more heads could roll, says CEO Mehta

The bank will soon finish integrating its CBS with SWIFT so this cannot happen again, PNB CEO Sunil Mehta said