Page 971 - Finance News
IOB to conduct EGM to allot shares worth Rs 1,551 crore to GoI
The central government has recently announced an allocation of Rs 3,101 cr by way of preferential allotment of equity to the bank
 "IOB to conduct EGM to allot shares worth Rs 1,551 crore to GoI")
RBI imposes penalty on four cooperative banks
RBI said it has imposed a monetary penalty of Rs 5 lakh on The Cooperative City Bank, Guwahati, for flouting KYC norms
 "RBI imposes penalty on four cooperative banks")
Need to raise farm sector's credit absorption capacity: S S Mundra
Narendra Modi administration has set a target to double farm income by 2022
 "Need to raise farm sector's credit absorption capacity: S S Mundra")
ICL plans to open 24 branches in Telangana, AP by year-end
ICL now has 42 branches across Kerala and Tamil Nadu and plans to expand its portfolio from 100 branches in the current financial year
 "ICL plans to open 24 branches in Telangana, AP by year-end")
PSU banks underpay at top; I too feel 'under-paid': Raghuram Rajan
SBI Chairperson Arundhati Bhattacharya got Rs 31.1 lakh in 2015-16, while HDFC Bank's MD Aditya Puri got Rs 9.7 crore
 "PSU banks underpay at top; I too feel 'under-paid': Raghuram Rajan")
Raghuram Rajan asks banks to improve cyber security systems
He urged the lenders to take a 'fresh look' at their security architecture
 "Raghuram Rajan asks banks to improve cyber security systems")
Raghuram Rajan wants individual bankers to take onus for large loans
Rajan also said the person taking the responsibility should also be rewarded if the project goes on well
Listed PSBs in red for a third quarter
Pace of additions to NPAs slower but provisioning pressure will continue for a while
 "Listed PSBs in red for a third quarter")
Pain for SBI's associate banks to stay in Q2: SBI chief
Says associates will report better performance from the subsequent quarter
 "Pain for SBI's associate banks to stay in Q2: SBI chief")
RBI questions banks for lending Rs 5,262 cr to REI Agro
As many as 21 banks had extended loan of Rs 5,262 crore to REI Agro Ltd, a basmati rice trading firm
 "RBI questions banks for lending Rs 5,262 cr to REI Agro")
Only four banks in the fray for Suuti mandate
Centre rejects 6 others for conditional bids; no foreign entity in final shortlist
 "Only four banks in the fray for Suuti mandate")
Public sector banks should be flexible to use of new technology: Montek Singh Ahluwalia
Speaking about digitisation, he said it is not only increasing productivity but also leading to disruption of the existing business model
 "Public sector banks should be flexible to use of new technology: Montek Singh Ahluwalia")
Yes Bank to raise $1 bn via QIP in next 7 months
Yes Bank reported a 32.8% rise in net profit to Rs 731.8 cr during the first quarter ended June 30
 "Yes Bank to raise $1 bn via QIP in next 7 months")
CBI files FIR against Vijay Mallya
FIR filed under charges of cheating and criminal conspiracy; SBI said to be complainant in case, according to a TV report
 "CBI files FIR against Vijay Mallya")
SBI stock rises despite 32% fall in profit
Rs 14,384-cr capital boost from realty re-valuation
 "SBI stock rises despite 32% fall in profit")
Bank of India Q1 net loss at Rs 741 crore
The state-run bank had earned a net profit of Rs 129.7 cr in the April-June quarter of last financial year
 "Bank of India Q1 net loss at Rs 741 crore")
Central Bank of India Q1 loss at Rs 600 cr
Total income of the bank declined to Rs 6,662.6 crore as against Rs 7,098.99 crore in the same period last year
 "Central Bank of India Q1 loss at Rs 600 cr")
OBC Q1 profit dips 61% at Rs 101 cr
Total income decreased to Rs 5,392.70 crore for the quarter under review
 "OBC Q1 profit dips 61% at Rs 101 cr")
Allahabad Bank net loss at Rs 565 cr
Against a net profit of Rs 146.86 crore in the same period last financial year
 "Allahabad Bank net loss at Rs 565 cr")