Page 811 - Finance News

PNB fraud: There can't be parallel inquiry by courts, Centre tells SC

The attorney general contended that why such petitions should be entertained by the courts unless there was something wrong shown by petitioner

RBI governor Urjit Patel's statements 'unbecoming', say officials

RBI had more power over private sector banks than over PSBs and a level playing field should be created in regulating PSBs, the Governor had said

Money laundering: ED files another case in alleged Rs 1.73-bn fraud at UBI

The case has been registered under the Prevention of Money Laundering Act

ICICI Securities IPO: Public holidays may cost ICICI Bank Rs 3 bn in taxes

The IPO proceeds of Rs 40 billion are capital gains the private lender would be booking by divesting around 24 per cent stake in the investment banking arm

PSBs plan tighter lending norms for corporate loans above Rs 2.5 billion

Public sector banks have decided to improve their risk-management systems

PNB scam fallout: Not defaulted on any loan, says Russell Mehta

"The group has a clean credit history and at no instance has any of its entity defaulted on any bank credit availed by it," Russell Mehta said in a statement

PNB detects Rs 91 mn-fraud at Mumbai branch where Nirav Modi scam unfolded

The new alleged fraud of around Rs 91 million involves officials of a little known company called Chandri Paper and Allied Products Pvt Ltd

Nirav Modi fraud: Public sector banks expect PNB to honour LoUs

They were all issued by PNB and against that we have made payment, SBI's Deputy Managing Director said

HDFC Bank raises Rs 23 billion through issuance of rupee-denominated bonds

The issue carries a fixed coupon rate of 8.10% per annum with maturity on March 22, 2025

Scandals to bailouts fail to dent analysts' faith in emerging-market banks

Strategists from Renaissance Capital to Newton Asset Management say emerging markets are so heterogeneous that idiosyncratic risks don't alter the big picture

Banks to adopt risk management system in 6 months to stop PNB-like fraud

Banks will be putting up their action plan to respective boards and in 3 to 6 months action plan would be implemented by banks

Blame game over PNB fraud would take us nowhere, says Venkaiah Naidu

The issue is not 'this regime or that regime', the issue is that of people losing confidence in the banking system, Naidu said

Merger with associate banks led to higher account closure this year: SBI

SBI on March 13 had substantially reduced charges for non-maintenance of average monthly balance (AMB) in savings accounts, which would benefit 250 million bank customers

Except for PNB, no unauthorised LoUs issued by PSBs: SBI official

Reserve Bank has stopped banks from issuing LoUs and Letters of Comfort for trade finance for imports into the country

IFC backs private equity funds in India that are facing rough weather

The problem is that most of these funds have under-performed: they have returned less than a fourth of this money, yielding single-digit returns for the portfolio

'RBI to be Neelakantha': Urjit on Nirav Modi PNB fraud; top 10 developments

RBI chief Patel's comments came against the backdrop of Punjab National Bank being defrauded of around Rs 135.4-billion, allegedly by billionaire jeweller Nirav Modi and his uncle Mehul Choksi

'Tough to prevent PNB-like fraud': Patel slams govt for diluting RBI powers

Governor says frauds like PNB are painful; regulatory powers must be ownership-neutral

Scrapping of guarantees by RBI to hit foreign branches of Indian banks

Many medium size and small enterprises (SMEs) will also face the heat, say banking officials

PNB fraud: RBI guv Urjit Patel blames regulatory constraints for scam

We at Reserve Bank also feel anger, hurt and pain at banking sector frauds and irregularities, he said

RBI may cut key policy rates by 25 bps in August to cool yields: BofAML

As per the global brokerage, fundamentals of the country like growth, money supply and monsoon, point to a benign inflation outlook