Page 821 - Finance News

Rs 110-bn PNB fraud: Govt asks banks to submit status report by weekend

The bank has detected some fraudulent transactions in one of its branches in Mumbai for the benefit of a few select account holders with their apparent connivance, PNB said

PNB suspends deputy manager, 9 others after uncovering Rs 110-bn fraud

Earlier in the day, the state-owned lender said that they had cracked a case of swindling, which was contingent in nature

PNB's $1.8 bn fraud at its Mumbai branch can spread to other banks too

The case poses further questions about the health of India's other banks, that are already grappling with one of the worst ban-loan ratios among big economies

CBI registers Rs 800-million bank fraud case against PNB officials

The cases relate to four branches of the bank in Bhopal and Ujjain in Madhya Pradesh

RBI ready to inject additional liquidity into banks by March end

The RBI will also allow standalone primary dealers to avail term repo auctions on March 28,

Core banking transactions soar 400% in 2017 on digital agents: Report

Almost two-thirds of the agents conduct interoperable transactions, finds the report

Allahabad Bank reports net loss of Rs 12.64 bn in Q3 as bad loans rise

Provision for taxes and other contingencies rose by 169.32% to Rs 24.13 bn

States may lose Rs 120 bn in share of central taxes over road & infra cess

The road and infrastructure cess will now effectively generate the same amount to the Central revenues in the next financial year

PE-backed Fincare Small Finance Bank eyes Rs 100 billion assets by FY21

Several financial institutions, including SIDBI, Kotak Mahindra Life Insurance and Edelweiss Tokio Life Insurance have also invested in the lender

Banks develop a taste for venture capital after Sidbi backed new VC firms

Alteria Capital, the venture debt fund floated by Hattangdi and his former colleague Vinod Murali, has roped in a public sector bank and a private bank

Piramal Fin to invest Rs 30 bn in affordable, mid-income housing projects

The company has identified projects in the Mumbai metropolitan region, Bengaluru and Chennai

Banks may take Rs 305-bn hit on rising bond yields, PSBs affected most

Banks collectively had reported a gain on treasury of Rs 598 billion in FY17

NPA levels of banks set to bloat with RBI's mega resolution framework

New RBI rules make accounts with 60-90 days' unpaid dues vulnerable

RBI's new rules on NPAs to weigh on bank stocks; PSBs to face bigger impact

Though framework is positive for banking sector in long-term, it will take a toll on its profits in near-term as provisioning will increase

Revised RBI norms to clean up NPAs in one go: Financial Services Secretary

Bankers said RBI wants IBC main tool for resolution where banks fail to reach a consensus

RBI's move to bar all debt-recast programmes will delay recovery: India Inc

RBI had said companies will get six months from March 1 to get their house in order or go for bankruptcy

RBI's new rules on NPAs: Foreign firms' interest in auction of assets wanes

Complex legalities and short timelines push these companies away from bidding process

RBI's rules on NPAs may add to provisioning burden but aid in loan recovery

Bankers said the new framework would force defaulted accounts to the resolution path

RBI overhauls stressed asset framework, gives 180 days for NPA resolution

Matter to be referred to Insolvency Board within 15 days

Corp Bank posts Rs 12.4-bn Q3 loss on higher NPAs; bad loan ratio at 15.92%

Sequentially, the net loss widened from Rs 10.35 billion in the second quarter (July-September) of 2017-18