Page 72 - Banks

Banks show interest in funding stalled projects of Amrapali group: NBCC

State-owned NBCC Ltd on Tuesday said that banks have shown interest in providing funds to complete the stalled projects of defunct Amrapali group. On July 23, 2019, the Supreme Court ordered cancellation of the registration of Amrapali Group under real estate law RERA. The court had directed NBCC to complete the stalled projects of the group. In a statement, NBCC said that the monitoring committee appointed by the Supreme Court convened a meeting on Monday with nationalised and private banks to discuss the financing for Amrapali Projects. NBCC's Executive Director was present in the meeting. "Post MoU signing of Ld Court Receiver with SBICAP Ventures Ltd for funding 6 Amrapali Projects at Noida and Greater Noida last week, other reputed banks have shown interest in funding the stalled Amrapali Projects," NBCC said in a statement. More than 42,000 homebuyers, who have been waiting for possession of their dream homes, will be benefited by this progressive initiative, it ...

Conversion of Vodafone Idea debt into equity an option: Banks to DoT

Conversion of debt of the stressed telecom player Vodafone Idea Ltd (VIL) into equity could be an option to emerge out of the crisis, lenders led by SBI have suggested to DoT

RBI extends deadline for shifting of current accounts till Oct 31

Banks in the interim had frozen thousands of accounts on the credit side

DICGC to authenticate deposit claims of failed bank in 30 days

Once a stressed bank is put on moratorium, DICGC will be liable to pay depositors an insured amount of Rs 5 lakh

Banks use ARCs for ever-greening: Parliamentary Committee on Finance

Calls for encouraging banks to bring down their leverage, says present "grim situation" should not be used as an alibi for bank privatisation

Banks to discuss next course of action on debt-laden Vodafone Idea

Lenders to Vodafone Idea (VIL) are expected to hold talks to decide on the future course of action with regard to their exposure to the debt-laden telecom player which is struggling to stay afloat

Poor asset valuation, economic climate, NCLT delays see IBC losing favour

Less than 200 cases have been admitted to the National Company Law Tribunal till June after the suspension was lifted on March 24, revealed the Insolvency and Bankruptcy Board of India

Goldman Sachs raises junior bankers' pay after burnout complaints

Goldman Sachs will now pay first-year analysts at least $110,000 up from $85,000, according to people familiar with the matter.

Public float exemption for PSUs to have riders in privatisation push

The move is to ensure fairness and prevent arbitrary use of latest dispensation provided by the government

Union Bank of India net profit up 255% to Rs 1,181 crore in June quarter

Net interest income rose by 9.53 per cent year-on-year in Q1FY22 to Rs 7,013 crore

Hear no evil, see no evil: How Credit Suisse ignored Archegos warnings

The Swiss bank suffered by far the most of all peers from financing the fund's risky market bets

Credit Suisse Q2 profit misses estimates as bank pares risk after scandals

Net income tumbled 78% from a year earlier

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.