Page 14 - Banks

New India Coop Bank: Ex-GM phoned staffers to take cash out from safes

New India Coop Bank's ex-general manager, Hitesh Mehta, used to call two staffers, instructing them to hand over Rs 50 lakh at a time from the bank's safes to persons he sent, police officials have said. Mehta and real estate developer Dharmesh Paun have been in custody since Sunday in connection with the alleged embezzlement of Rs 122 crore from the bank that was uncovered following an inspection by the Reserve Bank of India. The Economic Offences Wing of the Mumbai police is probing the case. Mehta had access to the bank's safes as he was the custodian. The statements of two bank staffers have been recorded. They have said how they used to give cash to those sent by Mehta. These bank staffers, who are witnesses in the case, have said they handed Rs 50 lakh cash more than once to several persons, the official said on Thursday. The probe so far has found that a former employee of the lender wrote to RBI about the prevailing situation, he said, adding this information is being verif

RBI weighs some relief for New India Co-op Bank depositors: Report

The RBI, along with the lender's administrator, will require depositors to prove the emergency, one of the sources said

Net ECB borrowings up threefold to $15.6 billion in April-December 2024

According to Reserve Bank of India (RBI) data, gross disbursements to Indian entities through the ECB route rose to $36.6 billion in April-December 2024, up from $26.1 billion in April-December 2023

New India Co-op Bank crisis: Higher returns come with greater risk

Many cooperative banks fall prey to political interference, unreliable accounting practices, loan evergreening, and frauds

RBI halts New India Co-op Bank operations: How to secure your savings

The announcement has triggered anxiety among account holders, many of whom depend on the bank for routine financial transactions. Experts advice to staying calm and keeping an eye on RBI guidelines

HSBC to incur $1.8 bn in costs over next two years in CEO's revamp

Europe's largest bank, which has been deepening its push into Asia and some Middle East markets, reported fourth-quarter pretax profit of $2.3 billion

A stable banking system: Deposit insurance must be extended substantially

There is an ongoing debate whether India still needs cooperative banks, given the increased reach of commercial banks, enabled by technology

Banks hit by AGS may turn to others for cash management operations

AGS is the second largest ATM servicing and cash management in the country with presence across 2,200 cities and towns

RBI curbs on New India Co-op Bank: Deposit insurance offers silver lining

Customers pin hopes on Rs 5 lakh insurance payout as RBI freezes withdrawals

Is 'one state, one RRB' plan right solution for struggling banks?

Do we need RRBs? Regional rural banks are fraught with problems, from financial to governance issues

RBI-NBFC meet: Shadow banks seek new funding as bank credit tightens

RBI governor nudges NBFCs towards Unified Lending Interface

RBI lifts restrictions on Kotak Mahindra Bank on onboarding new customers

In April last year, the RBI placed restrictions on the bank as it failed to plug gaps in its information technology (IT) systems

Supply of affordable housing down but not demand: HDFC Capital MD & CEO

HDFC Capital Advisors MD and CEO Vipul Roongta on Tuesday said the supply of affordable housing has gone down across major cities but not the demand, and urged real estate developers to focus on building homes costing Rs 50 lakh to Rs 1 crore. Addressing a FICCI real estate conference here, Roongta also noted that the euphoria seen in the last few years about housing price appreciation has vanished. "I keep reading about how demand for affordable is going down, and how the demand for premium has gone up. It's actually not that the demand has gone up for premium. It is the supply of affordable that has gone down," said Roongta, who is Co-Chairman, FICCI Committee on Urban Development & Real Estate. He said the supply of housing units, in Rs 35-75 lakh price bracket, has abysmally gone down leading to decline in sales, which is being wrongly interpreted as that the demand of affordable units is going down. "We just launched a project with one of our industry developers in Gurugram, .

RBI to introduce exclusive internet domains for banks and non-banks

RBI proposes additional factor authentication (AFA) for online international 'card-not-present' transactions

Q3 results review: Low core income, slippages hit banks' profitability

The net profit of 32 scheduled commercial banks (SCBs) grew by 21.2 per cent year-on-year (Y-o-Y) but dipped 2.4 per cent sequentially

Morgan Stanley-led banks sell $5.5 billion of X debt on demand surge

The banks initially planned to sell about $3 billion worth of the loan but received enough interest to parcel out additional debt

Jammu and Kashmir Bank receives GST notice of over Rs 16,000 crore

Bank has imitated legal action against the GST demand

Punjab National Bank eyes $1.96 billion bad loan recovery in FY25, says CEO

PNB's asset quality has improved over the last two years, after a debilitating corporate bad loan cycle between 2011 and 2019

Customer centricity will be our focus area: Indian Bank MD Binod Kumar

My expectation is there will be some moderation in credit growth while deposit growth may improve, said Indian Bank MD Binod Kumar

Maha Kumbh: From insurance to FMCG firms, businesses tap into spiritual mkt

Banks, insurance firms, FMCG majors set up booths; hotel rates, airfares hit the roof