Page 3 - Banks In India

Govt appoints non-official directors on boards of various banks

The government has appointed Non-Official Director (NOD) on the board of these banks for three years

Union Bank of India to allot Basel III bonds of Rs 2,000 cr next week

Union Bank of India on Thursday said it will allot Basel III compliant bonds next week on a private placement basis, for which it has accepted bids worth Rs 2,000 crore. The bank has considered the issuance of Basel III compliant debt instruments in the nature of debentures of Rs 500 crore, with green shoe option up to Rs 1,500 crore (maximum Rs 2,000 crore) on private placement basis, the bank said in a regulatory filing. The bonds are eligible for inclusion in additional tier I capital, it said. The bonds, with face value of Rs 1 crore each, are perpetual in nature and bear coupon of 8.70 per cent per annum. Perpetual bonds carry no maturity date, so they may be treated as equity, not as debt. The deemed date of allotment of bonds is November 22, 2021, the state-owned lender said. The bonds are rated 'AA'/stable by India Ratings & Research and Crisil.

RBI imposes curbs on Maharashtra-based Babaji Date Mahila Sahakari Bank

RBI imposed several restrictions on the Maharashtra-based bank

Bank holidays in October 2021, India: List of days when banks will be shut

List of bank holidays in October, 2021: All private and government sector Banks to remain closed for 21 days in the month of October. Check details below

Bank holidays in July 2021: Full list of days banks will be shut in India

List of bank holidays in July, 2021: All private and government sector Banks to remain closed for nine days in the month of July. Check details below

Banks in India report loan fraud worth Rs 5 trn, SBI's amount largest

Data showed 90 banks and financial institutions reported a total of 45,613 cases of loan fraud till March 31, 2021

Bank NEFT transfers will not be operational coming weekend

If you planning an online money transfer using the banking system between Saturday midnight and Sunday, you are well advised to either cancel or postpone such transfers

Bank of Maharashtra third quarter profit rises 14% to Rs 154 crore

The bank was helped by a decline in bad loans

Citi India elevates Arjun Chowdhry as head of its consumer banking biz

Chowdhry will manage the domestic retail banking, wealth management, credit cards, loans and mortgages

HDFC Bank, Maruti, DLF: Rate-sensitive stocks are preparing for more upside

Realty stocks are showing strong upside momentum

Banks, depositors, taxpayers

Depositors are a subset of taxpayers. A depositor also pays tax. So what he gains as a depositor he may well be losing as a taxpayer

YES Bank to transform into a retail bank: Administrator Prashant Kumar

Hopeful that moratorium on withdrawal will be lifted by Friday, says bank administrator

Hughes India arm fears closure over dues; banks may be at risk: Letter

Hughes' India unit provides services to defence, education and banking sectors in the country

Challenges galore for financial institutions amid liquidity crunch: Fitch

The rating agency expects the real GDP growth to slow to 4.6 per cent in 2019-20 from 6.8 per cent in 2018-19, led by a squeeze in credit availability from non-banking financial institutions

Cut in housing prices can clean up banks' balance sheets: Economic Survey

Pitching for correction in property prices, the survey said that housing prices are ruling at a high level, even as the growth in rates has been muted since 2015-16

Private Bank Q2 review: Top-line nos improve; Q3 may see better recoveries

The quarter gone by saw mixed results in terms of asset quality. Among key private players, only ICICI Bank and Axis Bank reported a fall in gross non-performing assets on a YoY basis

Rate sensitives plunge on panic selling in banks; YES Bank tumbles 30%

Based on publically available data, analysts at Macquarie said in a recent report that YES Bank, Bank of Baroda (BOB) and IndusInd Bank are the most exposed to Indiabulls Group

Delivering on growth a must for NextGen PSBs to attract investors

Analysts cite examples of SBI and BoB to indicate how the mergers could be value-depletive for investors in the near term

Not a single job will be lost due to merger of banks: Nirmala Sitharaman

Nirmala Sitharaman was replying to a question on the bank employees unions opposing the merger plan on the ground it would lead to loss of jobs.

Indian banks trail global peers on e-sale capabilities, finds BCG study

Indian banks trail their global peers in three areas: Absence of personalised marketing messages, lack of straight-through processing, and low quality of in-app sales support