Page 74 - Banks

State Bank of India raises cash withdrawal limits at non-home branches

State Bank of India has increased the cash withdrawal limits through cheques and withdrawal forms for its customers at non-home branches

Banks have room to lend Rs 45,000 cr more under ECLGC scheme: IBA CEO

As the government enhanced the scope of the Rs 3 trillion Emergency Credit Line Guarantee Scheme (ECLGS), banks on Sunday said they have sanctioned Rs 2.54 trillion

Covid-19: Banks begin process of restructuring of loans up to Rs 25 cr

To provide support to small businesses hit by the second coronavirus wave, banks have initiated the process of restructuring of loans up to Rs 25 crore in line with the COVID-19 relief measures announced by the Reserve Bank earlier this month. Many lending institutions have got board approval for the resolution framework and eligible borrowers are being contacted. For example, the Bank of India has sent messages to its eligible customers to submit their willingness to debt recast online. "In these trying times, we offer you a helping hand by extending relief as per RBI Resolution Framework 2.0 dated May 5th, 2021. If you are under financial stress caused by the COVID Second Wave, you may opt for restructuring of your account," the message said. Meanwhile, another public sector lender Punjab & Sind Bank said its debt recast plan as specified by the RBI has been approved by the board. "We will be reaching out to our customers including through BCs...we will get a fair idea about ..

Bank credit growth decelerates to 5.6% in March from 6.4% last year

The central bank further said aggregate deposits growth accelerated to 12.3 per cent in March 2021 from 9.5 per cent a year ago.

Indian Bank posts net profit of Rs 1,709 crore for March quarter

Indian Bank on Friday reported a net profit of Rs 1,708.85 crore in the March-ended quarter. The lender had posted a net loss of Rs 217.74 crore in the same quarter of the preceding financial year 2019-20. Sequentially, the bank had posted a net profit of Rs 514.29 crore in the December quarter of the financial year 2020-21. The bank said figures of March 31, 2020, are related to standalone Indian Bank financing for the pre-amalgamation period, hence not comparable with the post amalgamation financials of December 2020 and March 2021. The erstwhile Allahabad Bank was amalgamated into Indian bank with effect from April 1, 2020. Total income during the January-March quarter of 2020-21 increased to Rs 10,647.87 crore. It was Rs 6,334.37 crore in the same period of 2019-20, Indian Bank said in a regulatory filing. For the full year of the financial year 2020-21, the net profit of the bank was recorded at Rs 3,004.68 crore. In the previous financial year, the bank had a total income o

Canara Bank gets board approval to raise up to Rs 9,000 cr in FY22

Stock of Canara Bank closed at Rs 161.85 apiece on the BSE, up by 5.37 per cent.

God's own patience: Meet Padmakumar Madhavan Nair, MD & CEO of NARCL

His staying power was in evidence during the groundwork for the resolution of the debt owed by Anil Ambani-controlled Reliance Communication which involved over 50 lenders

IDBI Bank board to consider proposal to raise equity capital on May 15

The board of IDBI Bank will consider the proposal to raise equity capital through various modes in its meeting on May 15

J&K Bank defers board meet on proposed Rs 500 cr-capital infusion from govt

Jammu & Kashmir Bank (J&K Bank) has postponed its board meeting to discuss the proposal of Rs 500 crore capital infusion from the state government. The meeting of the board of directors of the bank scheduled for Wednesday, May 12, 2021 to consider/discuss the proposal of capital infusion by the government of Jammu & Kashmir to the tune of Rs 500 crore in the bank stands postponed, the bank said in a regulatory filing. The bank has not given the reason behind the postponement. The new date for the said meeting shall be communicated separately, it added. Stock of J&K Bank traded at Rs 26.10 apiece on BSE, up 2.76 per cent from previous close.

Jose Kattoor named RBI Executive Director with effect from May 4

In charge of Human Resource Mgt Dept, Corporate Strategy and Budget Dept and Rajbhasha

National Asset Reconstruction Company to be operational next month: IBA CEO

National Asset Reconstruction Company Ltd (NARCL), the name coined for the bad bank announced in the Budget 2021-22, is expected to be operational in June

Banks want RBI to relax NPA norms for lockdown-stressed MSME sector

Bankers request extension of NPA classification norms to 180 days from 90 days currently

Banks using unseen digital cash could bring down fees on foreign transfers

Blockchain technology used between banks to settle claims could significantly lower the cut taken from customers

De-risking the Risk Business webinar series - IFRS 17: From Compliance to Business Transformation

IFRS 17: From Compliance to Business Transformation

SBI, Equitas SFB: How to trade bank stocks post latest RBI announcements

The RBI has announced a few steps to encourage small finance banks (SFBs) to increase the credit flow to small borrowers

Project Future-Ready: HDFC Bank rehauls organisation set-up, top-deck roles

The bank is reorganising itself into three clear areas of business verticals, delivery channels and technology/digital to further build its execution muscle

SBI business activity index falls below pre-Covid level as lockdowns return

Pandemic second wave might reach its peak "around 20 days from now, says lender's report

Restructuring Deutsche Bank shows strongest quarter in seven years

The bank's long-running restructuring showed in lower costs

Bajaj Fin, Axis Bank, Maruti Suzuki: Strategies for stocks post Q4 results

Upon crossing the immediate resistance, Axis Bank's stock may see a rally towards Rs 750 and Rs 765-mark

Banks with assets of more than Rs 15,000 crore must hire two auditors

Any bank with a balance sheet of less than Rs 15,000 crore can have one statutory auditor. However, in all cases, concurrent auditors cannot be appointed as statutory auditors