Page 817 - Finance News

PNB fraud going on since 2010, CBI tells court: Top 10 developments

CBI arrested four officials of Nirav Modi, Mehul Choksi's companies. on Monday Vipul Ambani and five others were sent to 14-day judicial custody

Finance ministry sets up 8-member committee on fintech for easier norms

The Committee will also focus on how Fintech can be leveraged to enhance financial inclusion of MSMEs

IndusInd Bank invokes 60 million pledged shares of Jaypee Infratech

Jaiprakash Associates had 895 million shares, about 64.44 per cent stake, in Jaypee Infratech as on December 31, 2017

HDFC raises Rs 18.94 billion via share sale to global investors

The board has approved and declared closure of the qualified institutional placement (QIP) issue today, HDFC said in a filing to stock exchanges

RBI to infuse Rs 1 trn into banking system via special auctions in March

Higher tax outgo will fuel cash demand by banks, corporate sectors

Clearwater Capital is investing more than China in Indian distressed debt

We have probably allocated more capital recently in India relative to China, said Robert Petty, a co-founder at the Hong Kong-based fund

Three directors of Allahabad Bank step down on cessation of terms

The bank will soon call and extra ordinary general meeting for appointment of new directors

RBI slaps penalty of Rs 30 mn on Axis, Rs 20 mn on Indian Overseas Bank

RBI said it had carried out a statutory inspection of private sector player Axis Bank with reference to its financial position as on March 31, 2016

How loopholes in PSBs' systems were flagged but never fixed until PNB fraud

In the three weeks since details of the alleged fraud was disclosed, Indian authorities and the media have squarely blamed Punjab National Bank, and Nirav Modi

Prepay part of your home loan to soften blow of rising interest rates

On the sunny side, FD rate hike is good news for seniors; Go for short-term deposits, roll over to those with higher rates when they mature

PNB scam: Will Fugitive Economic Offenders Bill catch the next Nirav Modi?

Legal experts are not sure if threat of confiscation of property will be deterrent enough for fleeing offenders

Five PSBs on brink of being put under RBI's prompt corrective action plan

Canara, Union Bank, PNB among possible candidates; may lead to recall of Rs 157-bn AT-1 bonds

Many state-owned banks exist because of the state, says Rajnish Kumar

They all default and sit in the front rows of the industry associations: Rajnish Kumar

RBI gets tough on MNC banks, asks them to create sub-targets

RBI removed the prior condition that only loans of up to Rs 50 million and Rs 100 million given to MSMEs would be PSL-compliant.

PNB scam: CBI arrests 4 officials of Nirav Modi, Mehul Choksi's companies

The CBI has also arrested the then Director of Mehul Choksi's company, Gili India, Aniyath Shiv Raman Nair

PNB scam fallout: Trade finance hit as caution prevails, premium soars

Despite the immediate setback, bankers, however, feel that there will not be a complete freeze so that a genuine businessman's operations are affected

PNB scam fallout widens as NCLT bars over 60 entities from selling assets

the NCLT has restrained more than 60 entities, including Nirav Modi, Mehul Choksi, various individuals from selling their assets

Defaulting promoters must be barred from bidding: Axis Bank chief

Axis Bank chief Shikha Sharma said that there is 'some conversation' on this aspect already

Street signs: PNB Housing closes gap with PNB, BSE shares fall, and more

The bank manager refused to sanction the loan unless more loan-worthy collateral was given

Govt's stake in IOB to increase by 7.49% after Rs 46.94-bn capital infusion

The govt's stake will to 89.90% from 82.41% currently