Page 808 - Finance News

How the loan was issued to Nirav Modi? PNB denies 'info' to RTI activist

The bank has denied disclosing any information regarding minutes of the meeting, total loans sought by Nirav Modi by citing 8(1)(H) of RTI Act

Public sector banks pay much higher audit fees than private banks

Private banks have a single auditor while PSBs have multiple auditors

PNB plans vertical to recover stressed assets amid growing NPA problem

The move being initiated on a pilot basis is a first for state-run banks, said a PNB source

PSU banks' privatisation not answer, empower bank boards: Industry

Balakrishnan said India's savings rate also is very high and PSBs provide the required safety net and comfort for savers

In 5 days, PNB may be first bank to get 'defaulter' tag due to Nirav Modi

The tainted lender needs to repay Union Bank of India Rs 10 billion by March 31; if it can't, UBI may be forced to classify it as an NPA

BOI roping in HR consultancy outfit to develop leadership talent pool

State Bank of India and IDBI Bank have already appointed advisors for HR revamp

Panagariya makes a strong case for privatisation of PSBs, excluding SBI

On protest by farmers across the India, he favoured cash transfers to rural BPL households in times of crop failures via Aadhaar-linked bank accounts

PNB plans to stake claim in bankruptcy proceedings of Nirav Modi's Firestar

The bank is exploring all options for the recovery, including participating in the bankruptcy proceeding of Firestar Diamond Inc

India's retail banking now bigger than Russia's but not close to China's

With a loan book of $268 billion, India's retail banking is now ahead of Russia, Malaysia and Mexico but behind China, Brazil and Thailand

PNB scam: ED, CBI raid Nirav Modi's Mumbai home, seize Rs 250-mn properties

It seized Nirav Modi's antique jewellery, high-end watches, painting by M F Hussain, diamond ring

UCO Bank to merge branches in Hong Kong as it realigns overseas operations

Move follows RBI's ban on LoUs; With almost zero capital needed for opening a branch in Hong Kong, Indian banks long have been upbeat in opening branches there

After Nirav, Choksi's firms, SFIO probes Fortis, Religare for alleged fraud

In the last four financial years, the corporate affairs ministry has ordered investigations through SFIO into the affairs of 575 companies on account of alleged frauds

10 years of banking sector: Pvt sector gains at cost of public sector banks

In the fourth of a six-part series, we look at the turning points in the banking sector

CBI books Totem Infrastructure in Rs 13.94-bn bank loan fraud case

The company figured in the list of the biggest tax defaulters released by the Income Tax Department in 2015 with an outstanding tax of over Rs 4 bn.

Reserve Bank's LoU ban not to impact West Bengal jewellery industry

Ravi Karel said margin sought was 85% of the credit, but now they were seeking a margin as high as 150%

PNB issued over 41,000 LoUs since 2011; 1,590 of them to Nirav: FinMin

Following the scam, the Reserve Bank has stopped banks from issuing LoUs and Letters of Comfort for trade finance

Alternative credit scoring partnerships help fintech companies lend better

Online lending marketplaces say their partnerships with credit information companies to offer free credit reports to customers makes their lending more efficient

Need to rethink public ownership of banks, says Aravind Subramanian

I think we are now coming around more to the view that if you want this problem not to recur in the future, we cannot just throw money into a black hole, he said

Litigation hurdles abound for RBI-recommended insolvency cases at NCLT

There have been a few strong bids for some of the biggest stressed assets: Bhushan Steel, Bhushan Power & Steel, and Electrosteel Steels

PNB suffers Rs 145 bn loss due to fraud in FY18 so far: Govt

PNB has stated that it has adequate assets or capital to meet any liability which may crystallise on the bank