Page 70 - Banks

Depositors to get up to Rs 5 lakh within 90 days if bank under moratorium

The announcement covers 98.3% of all deposit accounts and 50.9 per cent of the deposit value, Finance Minister Nirmala Sitharaman said

Barclays pays out more than $1 billion to investors as profits rebound

Barclays shares were up 3% at 1130 GMT.

IndusInd Bank clocks 99% rise in consolidated net profit at Rs 1,016 crore

Net interest income was up 8 per cent YoY to Rs 3,564 crore, from Rs 3,309 crore in Q1FY21

Nearly Rs 49,000 crore lying unclaimed with banks, insurers: Karad

An estimated Rs 49,000 crore is lying unclaimed with banks and insurance companies, the Minister of State for Finance Bhagwat Karad informed the Rajya Sabha on Tuesday. The data on the unclaimed amount is till December 31, 2020. Giving the details in a written reply, the minister said as per information received from the Reserve Bank of India (RBI), the total amount of unclaimed deposits of banks stood at Rs 24,356 crore, as on December 31, 2020. He further said that as per the Insurance Regulator Development Authority of India (IRDAI), the total amount of unclaimed amounts of policy holders in public and private sector insurance companies was at Rs 24,586 crore (end-December, 2020). The RBI framed the Depositor Education and Awareness Fund (DEAF) Scheme, 2014. As per the Scheme, unclaimed amounts lying with banks are credited to the DEAF by banks and DEAF is subsequently utilised for promotion of depositors' interest. On the other hand, all insurers having unclaimed amounts of ..

Stop penalty on early withdrawal of SCSS in case of death: IBA to banks

Banks asked to capture closure reason in CBS

RBI increases loan limit of bank directors to Rs 5 cr from Rs 25 lakh

Said unless sanctioned by board or management committee, banks should not grant loans of Rs 5 crore or more to relatives other than spouse and dependent children of their top brass

Dubai tycoon slaps $8 bn suit on BoB, EY in New York for ignoring 'fraud'

Founder of Dubai-based firm NMC Healthcare, B R Shetty, claims it sank because the two entities turned a blind eye to a series of allegedly fictitious transactions

Websites of airlines, banks, tech firms recover from brief global outage

Websites of Delta Air Lines, Costco Wholesale Corp , American Express and Home Depot were down, displaying domain name system (DNS) service errors.

Banks once again move top court to keep inspection reports hidden

The inspections are done by RBI and not even bank staff, except top brass, are allowed to see it. But a 2015 SC ruling telling RBI to make the reports available under RTI changed all that

Top headlines: Pegasus controversy grows; apex court rules on AGR dues

Business Standard brings to you the top headlines on Tuesday

Real estate fund managers rush to raise fresh money as banks baulk

Early this week, ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group, launched a fund with a corpus of Rs 1,000 crore

Bank credit grows by 6.08% ; deposits increased by 9.76%

Bank credit grew by 6 per cent to Rs 109.31 lakh crore and deposits increased by 9.76 per cent to Rs 154.51 lakh crore in the fortnight ended July 2, 2021, RBI data showed.

Physical bank branches will continue to play key role in rural areas

Kotak Mahindra Bank Joint Managing Director Dipak Gupta said although retail customers have adopted phygital very fast, the non-retail customers are still dealing in cash.

Big banks expand share in corporate lending amid pandemic stress

The corporate banking space had started consolidating even before Covid, driven by the RBI's steps on opening current accounts of corporates and others.

Banks may encounter legal hurdles in invoking personal guarantees

Experts say most promoters don't register assets under their names

Credit card buys seen 8% lower in Apr-June quarter, say analysts

Among players in the credit card segment, HDFC Bank, despite a ban on issuing new credit cards, retained a sizeable, and, perhaps, the lar­gest market share in spends, at 27 per cent in May.

Only nine large firms' debt of Rs 59,000 crore recast by banks so far

Kamath panel approved all the nine proposals of banks

Banks explore option of invoking personal guarantee of promoters, says SC

Armed with Supreme Court order, banks may invoke personal guarantees of tycoons ranging from Venugopal Dhoot to Kapil Wadhawan to recover unpaid loans from their delinquent firms, sources said Monday. According to an estimate, top 10 personal guarantors have guaranteed debt of over Rs 1.6 lakh crore. Among the big names, former promoters of Bhushan Steel and Power Sanjay Singhal and his wife Aarti Singhal had furnished personal guarantees worth up to Rs 24,550 crore to take loans from a consortium of bank led by State Bank of India (SBI). The former promoter of Reliance Communications, Anil Ambani, has also given personal guarantee against the loan taken. Erstwhile promoter Wadhawan stands guarantee to loans taken by DHFL, which is sitting on debt of about Rs 90,000 crore, while Dhoot has also given personal guarantee to a portion of Rs 22,000 crore loan to Videocon. The Supreme Court in May had held that the November 15, 2019 government notification allowing creditors, usually ...

Banks explore the option of invoking personal guarantee of promotion

Armed with Supreme Court order, banks may invoke personal guarantees of tycoons ranging from Venugopal Dhoot to Kapil Wadhawan to recover unpaid loans from their delinquent firms, sources said Monday.

Former bank manager arrested for embezzlement of Rs 1.5 cr in Odisha

Former manager of a nationalised bank in Odisha's Kendrapara district was arrested for allegedly embezzling around Rs 1.5 crore, police said on Saturday.