Page 90 - Banking Sector

Canara Bank to be lead sponsor of bad bank, to pick up 12% stake

Bad bank refers to a financial institution that takes over bad assets of lenders and undertakes resolution.

BoB to offer flexible working model to employees; focus on mobile banking

This is aimed at striking a work-life balance and productivity enhancement in the long run.

Indian Overseas Bank fourth quarter profit rises over 2-folds to Rs 350 cr

The bank had posted a net profit of Rs 143.79 crore in the same period a year ago.

Bank of India allots shares to govt for Rs 3,000 crore capital infusion

State-owned Bank of India on Friday said it has allotted preference shares to the government for Rs 3,000 crore capital infusion. The bank has allotted 42,11,70,854 fresh equity shares of Rs 10 each to the government (promoter) at Rs 71.23 per share, amounting to Rs 3,000 crore through preference issue, Bank of India said in a regulatory filing. Shares of the bank closed 0.37 per cent up at Rs 80.45 apiece on BSE.

'Not an expert': SC declines to pass order on loan moratorium amid Covid

The top court said the courts are not experts in financial matters

Global bank regulators plot toughest capital regulation for bitcoin

Bitcoin and other cryptocurrencies are currently worth around $1.6 trillion globally

SBI-controlled RRBs see four-fold jump in net profit at Rs 1,004 cr in FY21

As a planned strategy to diversify the portfolio, RRBs expanded their housing loans by 20.35 per cent, while gold loans grew 91.73 per cent

India offers huge potential for digital challenger banks, says report

But currency depreciation and local regulations are concerns for foreign investors: Report

Bank of Baroda to sell 46 NPA accounts to recover Rs 597 crore

State-owned Bank of Baroda will conduct an e-auction of as many as 46 NPA accounts later this month to recover dues of Rs 597.41 crore. The lender, in a notification, said it intends to sell these NPA accounts to asset reconstruction companies (ARCs) / banks / NBFCs or other financial institutions (FIs) on 100 per cent cash basis, for which the e-auction will take place on June 21, 2021. The major NPA accounts put up for sale include Meena Jewels Export & Meena Jewellers Export (Rs 60.76 crore); Crystal Cable Industries (Rs 57.49 crore); J R Foods Ltd (Rs 41.60 crore); Shree Raghuvanshi Fibres (Rs 27.38 crore); Kaneri Agro Industries (Rs 24.69 crore); Man Tubinox (Rs 24.28 crore) and Aryans Educational and Charitable Trust (Rs 20.79 crore). The last date for submission of expression of interest is June 19, the bank said, adding the completion of due diligence will take place on the same day. "E-bidding timings will be from 11.30 AM to 12.30 PM with unlimited extension of 5 minutes

State-owned banks getting ready for privatisation may come out with VRS

VRS is not forced exit but option for those who would like to take early retirement

Equities offer best risk-reward in current environment: Validus Wealth CIO

He tells Ashley Coutinho, in an interview, that a quicker-than-expected reversal in easy monetary conditions could sap the liquidity that has elevated asset price valuations

Reserve Bank imposes penalty on Bank of India, PNB totalling Rs 6 crore

The RBI on Monday imposed penalty aggregating to Rs 6 crore on Bank of India and Punjab National Bank for contravention of norms

Hopeful to come out of PCA framework very soon, says UCO Bank MD

The government in the last round had infused Rs 14,500 crore of equity in Central Bank of India, Indian Overseas Bank, Bank of India, and UCO Bank

With borrowers unable to service loans, shadow banks are in for more pain

The bulk of the NBFC business is cornered by the top ten players, and they include several state-run entities.

Expect Rs 6K-cr loans to be restructured: PNB MD & CEO Mallikarjuna Rao

Under restructuring 1.0, PNB received requests for restructuring Rs 11,000 crore in corporate, retail, and MSME loans.

Taxation of startup exits needs a revisit: 3one4 Capital's Pranav Pai

The taxation policy disincentivises Indian capital from investing in local startups in two ways

BoB board approves setting off losses against share premium account

For fiscal year 2020-21, the bank reported a net profit of Rs 828.95 crore, up 52 per cent from Rs 546.18 crore a year ago.

Punjab National Bank eyes three-fold rise in profit in fiscal 2022

Despite Covid-19, the bank's profit surged over five times during the financial year ended March 2021

Fund-rich banks unlikely to use RBI's special window of Rs 15,000 crore

The RBI has decided to set up a special liquidity window of Rs 15,000 crore for contact-intensive sectors

Bank of Baroda may repatriate some capital from overseas business

The surge in liquidity - following additional infusion by central banks to fight the Covid-19 pandemic - has pushed down interest rates across the globe