Page 813 - Finance News

PNB discloses Rs 9.42 bn additional exposure in Nirav Modi, Choksi fraud

The new disclosure takes PNB's overall exposure in the still unravelling fraud case to well over the $2 billion mark

PNB fraud fallout: RBI stops use of LoUs for trade credit for imports

The RBI said the decision to discontinue the practice of LoUs and Letters of Comfort (LoCs) for trade finance comes into force with immediate effect

Why RBI may not cut key policy rates in 2018 despite dip in inflation

SBI said that the 'best is yet to come' and the RBI's inflation targets will be undershot by up to 0.50 percentage points

RBI to keep rates on hold as CPI inflation to rise 4.7% in FY19: Report

Following easing of retail inflation in Feb, there's industry clamour for rate cut next month to maintain growth momentum

SBI slashes penalty for not maintaining minimum balance from Rs 50 to Rs 15

The charges for non-maintenance of AMB for customers in metro and urban centres have been reduced from a maximum of Rs 50 per month to Rs 15, excluding GST

PNB will pay lenders Rs 60 bn that Nirav Modi owes, but with conditions

Nirav Modi and his uncle Mehul Choksi have allegedly defrauded the PNB and other banks of Rs 127 billion

PNB scam fallout: IMF official calls for governance reforms at PSBs

'Banks should continue working on improving their balance sheets on a priority basis'

Andhra Bank stocks sink to 15-year low amid ED probe involving ex-director

The CBI had filed a complaint in the case last year in October

PowerGrid inks pact with SBI for Rs 50 bn loan

The company is mainly into power transmission and is a central transmission utility of the country

Arun Jaitley silent on PNB fraud to protect daughter, says Rahul Gandhi

Gandhi in his tweet about "other law firms" was referring to the searches carried out by the CBI at the Mumbai offices of Cyril Amarchand Mangaldas

Man dupes SBI travel card platform for Rs 93 mn, CBI files FIR after a year

Accused is named as Sandeep Poojary, an employee of Yalamanchili Software Export, which provides manpower resources for handling operations of the travel card of SBI

Bad loans in power need coordinated central, state action: Hemant Kanoria

Hemant Kanoria, Chairman and managing director of Srei Infrastructure Finance, tells Ishita Ayan Dutt & Namrata Acharya, there must be an alignment between states and the Centre to recover stressed as

SBI, UCO Bank looking for buyers to clear off Rs 12.45-billion NPAs

Sona Alloys has an outstanding of Rs 6.47 billion towards SBI, while Zenith Birla has Rs 1.39 billion

PNB scam: RBI initiates audit of PSBs with focus on trade finance, LoUs

Most of the banking frauds and wilful default cases, like Nirav Modi and Vijay Mallya's cases are said to pertain to trade finance

ICAI issues advisory on joint auditors' work allocation in bank audits

The allocation of work should be in agreement with the management of the bank, said ICAI

Indian Bank, Union Bank classifies State Trading Corporation account as NPA

Due to non-payment of interest of Rs 192.9 mn on bank borrowings, Indian Bank and Union Bank of India have reported STC accounts as NPA

RBI should ensure that PNB scam doesn't 'paralyse' financial system: Ficci

Ficci prez Rahesh Shah said, "We have to overcome the fear psychosis. The investigation should not result in fear psychosis."

PSBs recap should be part of broader package of financial reforms, says IMF

India's banking sector will be saddled with GNPAs worth a staggering Rs 9.5 trillion by March-end, up from Rs 8 trillion in the year-ago period

The better debtor? Decline in default on credit given to women-led groups

NPAs as a percentage of total loans given to women-led SHGs in January 2018 dropped to 2.55% from a high of almost 26% before bank linkages were introduced under NRLM around 2013

Time ripe for holding co for PSBs to fix fund-crunch, fraud mess: Mundra

In step two, the government should do away with the majority in the holding company.