Page 806 - Finance News

Govt asks IDBI Bank to rejig its senior management like other PSBs

Much of IDBI Bank's special status was stripped off a few years ago when govt said the rank of the IDBI MD and CEO would be same as those of other banks

South Africa says Bank of Baroda holds 'proceeds of crime involving Guptas'

The crackdown on the dairy farm project came just weeks after South African President Cyril Ramaphosa replaced Zuma as head of the ruling African National Congress

Your EMIs are set to rise! SBI, PNB and ICICI Bank increase lending rates

The cost of funds also fell from 6% to 5.42%. However, their NIM contracted by 26 bps to 2.45% in Dec '17

Nirav Modi case: CBI recovers LoU documents, arrests another PNB executive

Mishra was responsible for auditing the procedures and practices followed in the PNB branch and report them

Buyers express strong interest in Nirav Modi's 'bankrupt' Firestar Diamond

The Central Bureau of Investigation has so far arrested at least 13 people - seven from the bank and six more from Modi and Choksi's companies

PNB scam: Govt directs PSBs to consolidate their overseas operations

Foreign branches of Indian banks had advanced money to companies belonging to diamond traders Nirav Modi and Mehul Choksi

SBI freezes three overseas deposit accounts of Nirav Modi group companies

These accounts are not directly related to fraud, however, these could help in investigation so the bank shared the details with the CBI, the ED, the income tax department

Bank of Baroda objects to freezing of funds in South Africa

The court documents showed that other banks transferred cash to the same dairy farm but their money wasn't frozen

RBI creates separate Rs 50 bn limit for foreign investors in IRF segment

After the utilisation limit in government bonds reaches 90%, as is the current situation, FPIs are not allowed to take position in IRFs

RBI creates sub-targets for foreign banks to lend to farmers, MSMEs

Banks have been complaining against this mandate, but the creation of a sub-target is likely to put them off even more

PNB appoints Lingam Venkata Prabhakar as executive director for 3 years

He has been appointed for a period of three years with effect from the date of taking over charge of the post on or after March 1

PNB auditor conspired with Nirav Modi in perpetrating $2-bn fraud: CBI

Mohinder Kumar Sharma was the internal chief auditor at the Brady House branch

Bihar youth commits suicide as Punjab National Bank refuses to give loan

District police official Vidhassgar said police has begun an investigation from all angles

CBI registers disproportionate assets case against ex-CMD of United Bank

She joined United Bank of India on April 23, 2013 as Chairman-cum-Managing Director, a position she held till February 20, 2014

Indian Overseas Bank repays medium term notes of $500 million

IOB had raised these funds for business expansion and lending in the year 2011 and 2012

Nirav Modi case: CBI recovers documents related to LoU from Mumbai 'chawl'

It is alleged that LoUs and LCs worth close to $2 billion were issued to the companies of uncle-nephew duo of Choksi and Modi from the Brady Road branch of the bank through SWIFT

EMIs set to rise as SBI, PNB raise lending rates

SBI hiking of the MCLR makes it the first hike in the 1-year MCLR since the inception of a new lending rate system in April 2016

Public sector banks need to improve governance infrastructure: SBI chief

Talking about State Bank of India, Kumar said SBI has a good risk mitigation architecture

Despite bank fraud, this $40-bn fund manager finds India as surprise haven

'The extremely positive environment for investing in Indonesian banks or Brazilian consumers in 2010, 2011, 2012 -- that's where India could go in the next few years,' James Syme

PNB denies reports RBI didn't conduct any audit at Brady House branch

Earlier, the fraud amount was said to be Rs 114 billion, but onn Tuesday, the bank had informed the stock exchanges that additional amount of Rs 13 billion had been discovered to be part of the fraud