Page 24 - Banks

How many bank holidays are there in June 2024: Check the full list here

There are a total of 8 days of bank closures in June 2024, including national holidays, every second and fourth Saturday and each Sunday

The 'default' path: PSBs classify Reliance Infrastructure's SPV as NPA

Recently, RBI proposed to increase standard asset provision requirements for project loans during the construction phase to 5% from 0.40% now

CBI arrests Dheerj Wadhawan in Rs 34,000 cr DHFL bank loan fraud probe

The CBI has arrested former DHFL Director Dheeraj Wadhawan in connection with the alleged defrauding of a 17-member lender bank consortium to the tune of Rs 34,000 crore, officials said Tuesday. Wadhawan, arrested from Mumbai on Monday night, was produced before a special court here which remanded him in judicial custody on Tuesday, they said. The former director of DHFL and his brother Kapil were earlier arrested in the case in on July 19, 2022, they said. The agency had filed a charge sheet against 75 entities including Kapil and Dheeraj on October 15, 2022. They were granted "statutory" bail from the special court on December 3, 2022, on the grounds that the investigation was incomplete and the charge sheet filed was piecemeal. This order was upheld by the Delhi High Court as well. The CBI had challenged the order in the Supreme Court, which set aside the bail orders noting that the Special Court as well as the High Court "committed serious error of law" in disregarding the leg

RBI lifts curb on boarding of new customers on Bob World app after 6 months

The RBI had imposed restriction on state-owned Bank of Baroda (BoB) on October 10, 2023 from onboarding new customers on its mobile app 'Bob World'

Commercial banks for 1-2% project finance provisioning; RBI proposed 5%

Industry sees short-term pain

Credit flow to moderate, corporate bond issuances to rise in FY25: ICRA

The incremental credit flow was also supported by the all-time high corporate bond issuances of Rs 10.2 trillion during the previous financial year

Adani's Dhamra LNG in talks with banks to borrow $600 million for gas unit

The conglomerate is regaining the confidence of investors since being targeted early last year by US short seller Hindenburg Research

Carlyle Group divests 2% stake in YES Bank for Rs 1,441 cr via open market

Carlyle Group on Friday divested nearly a 2 per cent stake in private sector lender Yes Bank for Rs 1,441 crore through an open market transaction. US-based Carlyle Group, through its affiliate CA Basque Investments, offloaded shares in Yes Bank through a bulk deal on the National Stock Exchange (NSE). As per the data, CA Basque Investments sold 59.40 crore shares, amounting to a 1.98 per cent stake in Yes Bank. The shares were disposed of at an average price of Rs 24.27 apiece, taking the transaction value to Rs 1,441.64 crore. After the stake sale, the Carlyle Group's shareholding in Yes Bank has declined to 7.13 per cent from 9.11 per cent. In February this year, global investment firm Carlyle Group pared a 1.3 per cent stake in private sector lender Yes Bank for Rs 1,057 crore. Meanwhile, Goldman Sachs (Singapore) Pte - ODI bought more than 36.92 crore shares, representing a 1.23 per cent stake in the Mumbai-based lender. The shares were acquired at an average price of Rs 24

Banks' loans rose 19% in two weeks to April 19, deposits up 13%: RBI data

Outstanding loans fell Rs 98,700 crore ($11.84 billion) to Rs 16,400,000 crore in the two weeks to April 19

Kerala man dies after co-op bank delays deposit of Rs 5 lakh: Key details

Somasagaram had been trying to withdraw his deposit for the last six months, but the officials repeatedly declined his requests

Adani Green Energy bags $400 mn finance from int'l banks for solar project

Adani Green Energy Ltd (AGEL) on Thursday said it has secured USD 400 million finance from a consortium of five international banks for its under construction solar projects of 750 MW in Gujarat and Rajasthan. These projects are expected to come online from November 2024 onwards, a company statement said. One of the projects is being developed in Rajasthan with 500 MW capacity and has a long-term power purchase agreement (PPA) with Solar Energy Corporation of India (SECI). The second one, with 250 MW capacity, is a standalone merchant power project being implemented at the world's largest RE cluster in Khavda, Gujarat. The consortium of lenders includes Cooperative Rabobank U.A., DBS Bank Ltd, Intesa Sanpaolo S.p.A., MUFG Bank, Ltd., and Sumitomo Mitsui Banking Corporation. AGEL has 10,934 MW operational portfolio, largest in India, delivering reliable, affordable, and clean power to the national grid. AGEL's operational portfolio consists of 7,393 MW solar, 1,401 MW wind and 2,14

Vodafone Idea in talks to avail loans worth $1.8 billion, says report

The company has reached out to state-run lenders State Bank of India (SBI), Bank of Baroda, Punjab National Bank and some privately-held banks, the report said

4 ways banks might have been overcharging you on your loan

The Reserve Bank of India recently cracked down on banks for charging customers extra fees. This came after the RBI found some banks charging customers interest on loans before the money was even giv

Jana SFB may apply for universal bank licence in next financial year

Last week, the Reserve Bank of India spelt out a glide path for SFBs to convert into universal banks.

Bank holiday on May 1: Why banks are closed tomorrow, check the details

Banks will remain shut tomorrow, May 1, due to Maharashtra Day and Labour day. Check states where banks will remain closed tomorrow

Jana Small Finance Q4 results: Net profit jumps multi-fold to Rs 322 cr

Jana Small Finance Bank on Monday reported a multi-fold jump in March quarter net profit at Rs 321.67 crore on the back of gains from a tax write-back. The Bengaluru-headquartered lender had reported a net profit of Rs 80.99 crore in the year-ago period and Rs 134.64 crore in the quarter-ago period. Its net profit for FY24 increased to Rs 669.54 crore, up from the year-ago period's Rs 255.97 crore. For the quarter under review, its total income rose to Rs 1,290.94 crore, from Rs 1,009.78 crore in the quarter-ago period. The total expenditure came at Rs 949 crore for the reporting quarter, while the provisions were at Rs 175 crore. However, a tax write-back of Rs 155 crore helped the bank report the handsome profit growth for the quarter. Its gross non-performing assets ratio improved to 2.11 per cent from the 2.19 per cent in December. The overall capital adequacy ratio stood at 20.31 per cent as of March 31, 2024.

UCO Bank Q4 results: Standalone net profit down 9.5% to Rs 525 crore

UCO Bank on Monday said that its board has approved the issuance of fresh equity shares with a face value of Rs 4,000 crore in the current fiscal year. The Kolkata-based bank also reported a standalone net profit of Rs 525.77 crore for the fourth quarter ended March 2024, a decrease of 9.5 per cent compared to the corresponding period last year. Subject to shareholder approval, the lender will explore various methods like QIP (Qualified Institutional Placement), FPO (Follow-on Public Offer), etc, for issuing 400 crore equity shares of Rs 10 each, the bank informed bourses. This issuance may occur in multiple tranches during FY25. The capital infusion is expected to support the bank's growth plans. UCO Bank's total income for the quarter grew by 17.44 per cent to Rs 6,984.61 crore. The bank also witnessed an improvement in asset quality, with gross NPA falling to 3.46 per cent compared to 4.78 per cent a year ago. The lender further declared a dividend of Rs 0.28 per share for FY24

RBI directs lenders to review loan disbursal, interest related practices

"These are matters of serious concern to the Reserve Bank," it said, asking lenders to take corrective action "including system level changes"

Pakistan keeps key interest rate unchanged at 22% for 7th straight meet

It added that it expected inflation to remain on a downward trajectory, but that recent oil price volatility poses a risk to the outlook. Consumers' inflation expectations also edged up in April

May 1 will be a bank holiday: Full list of bank holidays in May 2024

According to the Reserve Bank of India (RBI) holiday list, on May 1, 2024, bank operations will remain suspended in major cities due to May Day