Page 37 - Banks

Indian state banks to snap two-month streak of selling govt debt: Report

The pullback has left the 10-year yield around 7.20%, which traders say is attractive

Further strengthen balance sheets even if financials remain strong: RBI

Gross NPAs lowest in a decade; tighter norms on unsecured loans for stability

RBI imposes Rs 2 lakh penalty on TDCC Bank for sanctioning loan to director

The Reserve Bank of India (RBI) has said it has imposed a penalty of Rs 2 lakh on the Thane District Central Co-operative (TDCC) Bank for alleged violation of banking regulations by sanctioning loan to one of the directors of the bank. The RBI gave this information in a release issued by its Chief General Manager Yogesh Dayal on Friday. In an order issued on November 28, the RBI imposed a penalty of Rs 2 lakh on the TDCC Bank for the violation of sections 20 and 56 of the Banking Regulation (BR) Act, 1949, it said. The penalty was imposed under the powers conferred on the RBI under sections of the BR Act. The statutory inspection of the bank conducted by the National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2022, and examination of the inspection report and all the related correspondence, revealed that the TDCC Bank had sanctioned a loan to one of its directors, the release said. A show-cause notice was then issue

Banks bid 2.5 times at Rs 4.75 trn against notified amount at VRR auction

Bids totaling 2.7 times the notified amount were received at VRR auction on December 15

Banks lead QIP revival in 2023: Listed cos raised Rs 53,070 cr so far

The good run of QIPs is also expected to spill into the next year, particularly in the run-up to the general elections in April-May next year

India has scale, talent for competitive edge in GCCs: Walmart's Bodugum

Tamil Nadu Round Table 2023: Puneet Gupta of Kaleidofin said that these entities are driving financial inclusion in India, and biometrics will become key to security of online payments

Lawmakers to hold discussions with select banks, insurance cos next year

Indian government, in 2019, announced the merger of 10 state-owned banks into four lenders

Banks need to identify needs of weaker sections and empower them: Bhagwat

Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat has said it is the responsibility of banks to identify the needs of the weaker sections and empower them. He was speaking on Saturday at the conclusion of golden jubilee function of the Kalyan Janata Sahakari Bank in Kalyan area of Maharashtra's Thane district. Financial prosperity of the weaker sections is the foundation of banks, the RSS chief said. Banks should give priority to social development, while maintaining all economic parameters, Bhagwat said. He said it is the responsibility of banks to "identify needs of the weaker sections" and empower them, he said. The golden jubilee year of the Kalyan Janata Sahakari Bank coincides with an increased responsibility to see how the organisation will run more dynamically in the future, he said. The golden jubilee celebration of the bank was started last year in the presence of Union minister Nitin Gadkari, he noted.

UBS steps up bid to claw back cash bonuses from Credit Suisse defectors

UBS has contacted hundreds of bankers and offered some multi-year payment plans amid efforts to claw back a chunk of the 1.2 billion Swiss francs ($1.38 billion) in restricted cash bonuses

India's relative position at its strongest in many years: Raj Balakrishnan

The deal pipeline across products is robust for 2024. Banks are actively working on several IPOs, with plans to file them in the next three months, says Balakrishnan

Bank held liable for delay in insurance purchase

The National Commission observed that procrastination by the bank in deducting the premium, despite having obtained authorisation, had led to a delay in policy issuance

IBA signs MoU with unions on pay revision; okays 17% hike for 5 years

The parties will endeavour to finalise the bipartite settlement within 180 days from the date of this minutes

RBI allows liquidity reversal for banks on weekends, holidays from Dec 30

The Reserve Bank of India (RBI) governor Shaktikanta Das said that the move will come into effect on December 30

Big bank CEOs warn that new regulations may severely impact economy

The heads of the nation's biggest banks say there are reasons to be concerned about the health of US consumers particularly poor and low-income borrowers in their annual appearance in front of Congress on Wednesday. The CEOs of JPMorgan Chase, Bank of America, Wells Fargo and five other large firms also took the opportunity to impress upon senators that the Biden Administration's new proposed regulations for the industry may hurt the US economy going into an election year and at a time when a recession is possible. Wall Street's most powerful bankers have regularly appeared in front of Congress going back to the 2008 financial crisis. Among those testifying before the Senate Banking Committee include JPMorgan's Jamie Dimon, Bank of America's Brian Moynihan, Jane Fraser of Citigroup and Goldman Sach's David Solomon. When both houses of Congress were controlled by Democrats, the CEOs would appear in front of both the House Financial Services Committee and the Senate banking panel. N

Global banks face negative outlook, property stress in 2024: Moody's

Moody's said in its report that it expected money to remain tight next year, lowering economic growth even as central banks are expected to start cutting rates

What world's biggest banks really mean when they put trillions into ESG

By 2021, the role of finance in creating a greener, fairer planet was a growing part of the public debate, leading an ever greater number of lenders to produce such targets

Banks raised record Rs 40,895 crore through infra bonds in Apr-Nov

The country's largest lender, State Bank of India (SBI), accounted for almost half of the amount mopped up via infrastructure bonds in the eight months of FY24

Bank holidays in December: Banks to remain closed for 18 days; check list

Bank Holidays in December 2023: Banks in India will remain closed for 18 days next month

ED carries out raids in Rs 250-crore money laundering case in J-K

The Enforcement Directorate on Thursday searched six places in connection with a Rs 250-crore money laundering case in Jammu and Kashmir, officials said. The searches included the premises of the former chairman of Jammu and Kashmir State Cooperative Bank Limited, they said. Earlier the officials had mentioned that the case pertained to J-K Bank. The fraud was in the name of the fictitious River Jhelum Cooperative Housing Building Society, the officials said. According to them, the raids were conducted by the ED's office in Srinagar under powers provided to the federal probe agency under the Prevention of Money Laundering Act (PMLA) for search and seizure. The Anti-Corruption Bureau (ACB) had already filed a charge sheet in the case against Hilal A Mir, the chairman of the fictitious housing society, the then chairman of J-K State Co-operative Bank Limited Mohd Shafi Dar and others for the commission of offences under relevant sections of Indian Penal Code and the Prevention of ...

'Upskill or cross-skill': Cybersecurity skill gap hobbles banking sector

Recently, UCO Bank reported an IMPS (Immediate Payment Service) fraud in which Rs 820 crore was credited to some account holders of the bank without a debit from any other bank