Bank Consolidation: No major decision likely until late FY17
Posted Date : 21-Mar-2016 , 08:09:27 am | Posted By CASANSAAR
The Centre will tread cautiously on the issue of merger and consolidation of public sector banks (PSBs) as there is no clear-cut mechanism in place for human resource management.
Sources involved with the process said the Finance Ministry is keen on reducing the number of PSBs to about 10 or le...
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PSU banks write off 38 accounts worth Rs 8033 Cr
Posted Date : 18-Mar-2016 , 07:28:36 am | Posted By CASANSAAR
Public sector banks have written off 38 accounts of Rs 100 crore and above amounting to about Rs 8,000 crore during the nine months of the current fiscal.
As against Rs 8,033 crore for 2015-16, banks had written off 47 accounts of Rs 100 crore and above totalling Rs 13,018 crore in 2014-15,...
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Bangladesh Central Bank Governor resigns over $81m Cyber theft
Posted Date : 16-Mar-2016 , 07:54:29 am | Posted By CASANSAAR
In Bangladesh, the Reserve Bank Governor Atiur Rahman has resigned today following a $ 80 million cyber theft from the Bank's Reserve Fund Account at the Federal Reserve Bank of New York. Atiur Rahman who has been the Reserve Bank Governor for the second term resigned during a meeting with the P...
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CVC suggests e-verification of bank guarantees to check frauds
Posted Date : 10-Mar-2016 , 07:52:39 pm | Posted By CASANSAAR
To check fraudulent bank guarantees, the Central Vigilance Commission has suggested electronic verification of such documents directly with the concerned lending institutions.
The move will help curb the menace of banking frauds. A bank guarantee acts as a proof of financial stability and credi...
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CBI books five senior officials of Syndicate Bank in alleged Rs 1,000 cr scam
Posted Date : 08-Mar-2016 , 08:18:30 pm | Posted By CASANSAAR
There is trouble in store for some senior officials of the state-run Syndicate Bank with the Central Bureau of Investigation (CBI) booking them on charges of fraud and cheating as part of their investigations into an alleged fraud to the tune of Rs 1,000 core.
Five senior bank of...
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PSU Banks Bad Loans Rise By Rs. 1 Lakh Crore in 9 Months of FY 16 - FM
Posted Date : 08-Mar-2016 , 08:15:22 pm | Posted By CASANSAAR
Bad loans of public sector banks (PSBs) have increased by nearly Rs 1 lakh crore during the first nine months of the current fiscal year, Finance Minister Arun Jaitley said on Tuesday.
"The gross Non Performing Assets (NPAs) of the PSBs (PSU banks) increased from 5.43 per cent as on March 20...
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Centre considering ESOPs for bank employees: FM
Posted Date : 06-Mar-2016 , 07:33:49 am | Posted By CASANSAAR
State-run bank chiefs have strongly backed the idea of consolidation while the government is actively considering employee stock options (ESOPS) for bank employees, finance minister Arun Jaitley said on Saturday.
Heads of state-run banks, who gathered for a two-day retreat with senior government ...
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PM approves constitution of Banks Board Bureau under former CAG V. Rai
Posted Date : 28-Feb-2016 , 08:51:43 pm | Posted By CASANSAAR
Prime Minister Narendra Modi has approved the proposal of the Department of Financial Services (DFS), Ministry of Finance for the constitution of the Banks Board Bureau.
The Bureau, which was announced in the last Budget by Finance Minister Arun Jaitley, will be headed by former Comptroller and...
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PNB declares 900 firms as wilful defaulters; Owe Rs 11,000 Cr
Posted Date : 23-Feb-2016 , 10:05:49 pm | Posted By CASANSAAR
State-owned Punjab National Bank (PNB) has declared a list of about 900 wilful defaulters including Winsome Diamonds & Jewellery, Zoom Developers and Nafed, which owe close to Rs 11,000 crore to the lender.
The bank recently declared beleaguered Kingfisher Airlines and its guarantors UB Hol...
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27 PSU banks write off 1.14 lakh cr bad debts during 2012-15
Posted Date : 08-Feb-2016 , 09:42:11 pm | Posted By CASANSAAR
A whopping Rs 1.14 lakh crore of bad loans have been written off by 27 public sector banks (PSBs) during FY 2012-15, with the last fiscal alone witnessing a steep 53% rise in write-offs as part of the balance sheet clean-up.
For the fiscal ended March 2015, public sector banks have writ...
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Bank of Japan introduces negative interest rate policy
Posted Date : 29-Jan-2016 , 10:13:23 pm | Posted By CASANSAAR
Japan's central bank shocked markets today with plans to effectively charge lenders to park their cash with it, ramping up a long-running battle to kickstart the world's number three economy.
The unprecedented decision to adopt a below-zero interest rate policy is the Bank of Japan's ...
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Banks can't withhold info on defaulters and other issues covered under RTI: SC
Posted Date : 17-Dec-2015 , 08:03:39 am | Posted By CASANSAAR
The Supreme Court has held that RBI should take rigid action against those banks and financial institutions which have been indulging in disreputable business practices. A bench comprising Justices MY Eqbal and C Nagappan said, the central bank cannot withhold information on defaulters and other iss...
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RBI dismisses social media rumours over scribbled notes
Posted Date : 15-Dec-2015 , 08:21:15 am | Posted By CASANSAAR
Dismissing rumours on the social media, the RBI on Monday said all notes including those with scribbling will continue to be legal.
"As I understand, one of the topics trending on Whatsapp is the statement that at the end of the year notes with writing will not be accepted. This ...
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Guidelines for Banks on Refinancing Existing and Pending Infrastructural Projects
Posted Date : 12-Dec-2015 , 08:58:24 am | Posted By CASANSAAR
Reserve Bank of India (RBI) guidelines are already in place on refinancing existing infrastructure and other project loans. As per extant guidelines, banks are allowed to refinance such loans by way of take-out financing, even without a pre-determined agreement with other Banks/Financial Institution...
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FM ask Banks to Get rid of NPAs, clean up balance sheet at earliest
Posted Date : 24-Nov-2015 , 08:29:36 am | Posted By CASANSAAR
Finance Minister Arun Jaitley today said, the government has proactively taken measures to remove problems in stressed sectors and expressed the hope that the bad loans situation in the banking sector will improve for the better . Speaking to media after Quarterly Review Meeting of public sector ban...
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FM to review performance of public sector banks
Posted Date : 22-Nov-2015 , 10:39:18 pm | Posted By CASANSAAR
The Finance Minister Arun Jaitley will Monday meet chief executives of public sector banks (PSBs) to review banks' performance during the second quarter this fiscal besides other thrust areas like credit flow and priority sector lending.
This meeting - - probably for the first time--would s...
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Summary of the Recommendations of the Bankruptcy Law Reforms Committee (BLRC)
Posted Date : 05-Nov-2015 , 08:10:53 am | Posted By CASANSAAR
Following is the Summary of the Recommendations of the Bankruptcy Law Reforms Committee (BLRC)
The Report of the BLRC is in two parts:
Rationale and Design/Recommendations;
A comprehensive draft Insolvency and Bankruptcy Bill covering all entities.
The draft Bill ...
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Four public sector banks get CEOs
Posted Date : 04-Nov-2015 , 08:23:18 am | Posted By CASANSAAR
The Finance Ministry has appointed chief executives in four public sector banks (PSBs) — Andhra Bank, Indian Bank, Corporation Bank, and UCO Bank.
Earlier in mid-August, private sector bankers were appointed to head five PSBs — Bank of Baroda, Bank of India, Punjab National Bank, Ca...
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Banks need Rs 5 lakh crore capital for Basel III norms: Study
Posted Date : 13-Oct-2015 , 09:03:02 am | Posted By CASANSAAR
Indian banks' capital requirement would cross the Rs 5 lakh-crore mark while meeting the global Basel III banking norms by March 2019, a study report said on Monday.
"Given the credit growth expected in the short-to-medium term, the capital requirement of Indian banks would cross a huge ...
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Banks asked to appoint security guards at all ATMs
Posted Date : 11-Oct-2015 , 09:13:54 pm | Posted By CASANSAAR
In the wake of recent heists from two ATMs here, the district administration today directed bank officials to appoint security guards at their ATMs otherwise branch manager will be held responsible in eventuality of any thefts in the future.
District Magistrate K K Yadav said, "Under s...
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RBI approves 10 entities to set up small finance banks
Posted Date : 17-Sep-2015 , 08:04:48 am | Posted By CASANSAAR
Seeking to promote financial inclusion, the RBI has granted approval to 10 entities, in principle, to set up small finance banks to provide basic banking services to small farmers and micro industries. The approval granted yesterday includes Ujjivan Financial Services and Equitas Holdings.
...
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Rakesh Sharma takes over as Canara Bank MD and CEO
Posted Date : 12-Sep-2015 , 07:27:25 am | Posted By CASANSAAR
State-run Canara Bank today said Rakesh Sharma has assumed charge as its Managing Director and Chief Executive Officer.
Before joining Canara Bank, Sharma was MD and CEO of Lakshmi Vilas Bank since March 7, 2014.
Sharma’s s parental bank was State Bank of India wherein he had raised to t...
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Public sector bank was so successful it gave Rs 658 billion in profits to the Centre
Posted Date : 31-Aug-2015 , 08:45:32 am | Posted By CASANSAAR
We are so used to hearing about the distressed nature of India's public sector banks, which were just given (yet another) brand new government plan to revive them, we often forget about the performance of the biggest one: the Reserve Bank of India. After all, RBI too is a bank with paid-up capit...
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Bandhan Bank joins Indian banking league with 501 branches
Posted Date : 23-Aug-2015 , 06:59:19 pm | Posted By CASANSAAR
Bandhan Bank on Sunday began operations as a full-fledged bank with 501 branches and 1.43 crore accounts across the country, becoming the newest member of the estimated USD two-trillion Indian banking industry.
Bandhan said it is starting operations with 1.43 crore accounts, around Rs.10,500 cr...
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Banks to remain closed on 2nd, 4th Saturdays from September 1
Posted Date : 21-Aug-2015 , 08:15:39 am | Posted By CASANSAAR
Bringing cheers to lakhs of bank employees, the government has accepted the long-pending demand of workers to declare second and fourth Saturdays holidays, with effect from September 1.
"The notification regarding Saturday off has come. It is effective from September 1," All India...
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Government issues norms for selection of Chiefs of smaller PSU Banks
Posted Date : 21-Aug-2015 , 08:08:10 am | Posted By CASANSAAR
Chiefs of all public sector banks, other than five large ones, will come from within the talent pool of state-owned lenders, according to the new selection guidelines issued by the government on Thursday.
The selection process will start next month, the Finance Ministry said in a statement.
Ac...
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Govt announces MD & CEO and Non-Executive Chairman of 5 Public Sector Banks (PSBs)
Posted Date : 14-Aug-2015 , 09:23:21 pm | Posted By CASANSAAR
The Government decided to separate the post of Chairman and Managing Director by prescribing that in the subsequent vacancies to be filled up the CEO will get the designation of MD & CEO and there would be another person who would be appointed as non-Executive Chairman of PSBs. This approa...
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Lok Sabha Passes Bill to Deal with Cheque Bounce Cases at Clearance
Posted Date : 06-Aug-2015 , 10:21:49 pm | Posted By CASANSAAR
The Lok Sabha today passed a bill that will allow filing a case of cheque bounce at the place it is presented for clearance and not the place of issue.
The amendments in the Negotiable Instruments Act will have implications for over 18 lakh cheque bounce cases pending in various courts, Minister ...
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SBI Hong Kong Branch Fined $1 mn for Breaching Money Laundering Laws
Posted Date : 01-Aug-2015 , 08:55:35 am | Posted By CASANSAAR
In a setback to State Bank of India (SBI), the Hong Kong Central Bank imposed a $1 million (HK$7.5 million) penalty for breaching the Hong Kong anti money-laundering and counter terrorism financing rules.
The fine, imposed on SBI’s Hong Kong branch, is a first for the Hong Kong Monetary Aut...
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Govt extends interest subvention scheme to banks to ensure availability of crop loans
Posted Date : 22-Jul-2015 , 08:06:56 am | Posted By CASANSAAR
The government has extended interest subvention scheme to public sector banks, private sector commercial banks, rural regional banks, cooperative banks and NABARD to ensure availability of crop loans of up to 3 lakh rupees to farmers at seven per cent per annum. The sources said, the decision to con...
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