Page 45 - Banks

PNB scam: Bank seeks restoration of Nirav Modi's property worth Rs 71 cr

The Punjab National Bank (PNB) on Wednesday moved an application before a special court here seeking restoration of the Rs 71 crore worth property owned by fugitive diamond merchant Nirav Modi, who is accused of duping the bank. The bank urged the court to release the properties seized by the probe agencies to recover a part of its dues. Nirav Modi, who was declared a 'fugitive economic offender' in December 2019, and his uncle Mehul Choksi are accused of committing a Rs 14,000 crore scam by obtaining credit facilities fraudulently from the PNB and several of the former's properties as well as that of his kin were attached by the Enforcement Directorate under the provisions of the Prevention of Money Laundering Act. The plea said that the PNB consortium and UBI consortium have always conducted their business in good faith in the normal course of banking activities and were unaware of the fraud when they disbursed loans to the Nirav Modi companies. At present, only Rs 1,066.41 crore

'Risk does not manifest in isolation', say senior managers at banks

'Banks want technology to be agile and nimble'

Reserve Bank of India looking at banks' retail loan book more granularly

Sharp rise in unsecured loans in one year

'Banks should be cautious of technological risks', says N S Vishwanathan

'AQR facilitated RBI to understand how a borrower behaved across the banking system'

With a pause in rate hikes, NBFCs, like banks, are in a sweet spot

RBI's pause in interest rate hikes and a continuation of the revival of private consumption would boost NBFCs in the first quarter (Q1) FY24

Banks, consumer cos to brighten earnings in India amid IT uncertainties

India's banks have largely remained insulated from a global crisis in the industry with their heavy reliance on local markets

Non-performing advances of public sector banks at multi-year lows

The closing stock of write-off pool stood at Rs 7.5 trillion at the end of March 2023, up from Rs 6.8 trillion a year ago

LIVE: HC to give judgement in Rahul Gandhi defamation case on Friday

Catch all the latest LIVE updates from across the globe

This can be a template for why big is necessary: HDFC Bank chairman

'Credit growth is picking up. Banks are now in a lending mode'

State-run banks confident of withstanding macro shocks: Finance Ministry

India's state-run banks are confident of withstanding any macroeconomic shocks and expect their outlook to improve, despite headwinds in the global banking sector, the finance ministry said

Banks and non-banks to seek clarification from RBI on co-branded cards

RBI move aimed end exclusive tie-up with card networks

State Bank of India rejigs senior leadership roles to boost dominance

State Bank of India, the country's largest lender, is re-jigging its senior leadership positions with at least four key executives getting new roles, according to people familiar with the matter

PNB launches virtual branch in the Metaverse with immersive 3D experience

State-owned Punjab National Bank (PNB) on Thursday announced the launch of a virtual branch, PNB Metaverse. It is a virtual branch of the bank, which will deliver a unique experience of banking to existing and new customers who can now explore the bank's products and services such as bank deposits, retail/MSME loans, digital products, women/senior citizens, 'Do It Yourself' and government flagship schemes, PNB said in a statement. PNB has developed the Bank's Metaverse Branch, where its esteemed customers will get exclusive access to its virtual environment from the comfort of their home or office through their mobile phones and laptops, it said. In addition, the bank will offer an immersive 3D experience to the customers while performing traditional banking activities through their digital avatars, it said. In this new phase of the internet, which evolves from a disparate collection of sites and apps into a persistent 3D environment, where moving from work to a social platform is

CBI flies FIR against suspended defence firm for duping bank of Rs 30 cr

In March this year, the Ministry of Defence suspended apparel and bulletproof jackets manufacturer Adigear International from doing any business with the armed forces

Nine British banks sign up to Mastercard's new AI tool for tackling scams

Nine of the UK's biggest banks, including Lloyds Banking Group Plc, Natwest Group Plc and Bank of Scotland Plc, have signed up to use the Consumer Fraud Risk system, Mastercard

Bank of India pays dividend of Rs 668 crore to government for FY23

On May 30, BOI declared a dividend of Rs 2 per equity share

Banks asked to push stuck home projects worth more than Rs 3 trillion

In 2019, the Centre had set up the SWAMIH fund to facilitate the completion of stalled housing projects

HDFC Bank-HDFC's combined loan book up 13.1%; deposits up 16.2% in Q1

Sequentially, merged entity's advances rose by 0.7% to Rs 22.30 trillion as of March 31

FM Sitharaman's meet with PSBs on July 6 to focus on performance review

Sitharaman on Saturday at an event said the performance of PSBs had improved on account of various initiatives taken by the Modi government since 2014

Federal Bank Q1 advances up 21%; deposits grow 21.4% to reach Rs 2.22 trn

Retail credit book grows by 20.2% YoY, says private bank in stock exchange statement