SBI puts loan accounts worth Rs.4400 crore on sale for ARCs
Posted Date : 17-Jul-2015 , 08:14:52 am | Posted By CASANSAAR
State Bank of India (SBI) has put 66 loan accounts, with loans worth Rs.4,400 crore, for sale to asset reconstruction companies (ARCs) in July, a senior official at the bank confirmed.
According to the official, who spoke on condition of anonymity, most of these accounts are small and medium...
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Deutsche Bank’s $1-bn investment faces fresh probe
Posted Date : 06-Jul-2015 , 07:58:31 am | Posted By CASANSAAR
With questions being raised about a USD one-billion debt market investment of Deutsche Bank and others, financial regulators RBI and Sebi are having a fresh look at the case to ensure compliance to their norms.
Besides, they are also reviewing their regulations for greater clarity in ...
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New Banks : Bandhan Bank to begin operations from 23 August
Posted Date : 18-Jun-2015 , 07:23:29 am | Posted By CASANSAAR
Bandhan Financial Services Pvt. Ltd will start full-fledged commercial banking operations on 23 August.
Kolkata-based Bandhan got the final Reserve Bank of India (RBI) approval to start commercial banking operations on Wednesday.
So far, it had “in principle” approva...
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Government to tighten screws on banks Window Dressing of accounts
Posted Date : 05-Jun-2015 , 08:31:37 am | Posted By CASANSAAR
The government is set to overhaul annual targets for public sector lenders this month, ending a focus on size that has long encouraged banks to inflate their loans and deposits at the year-end to hit growth objectives.
Banking and government sources said the new targets, to be discuss...
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Small Public Sector Banks should be merged with large Public Sector Banks : Finance Ministry Panel
Posted Date : 30-Apr-2015 , 08:30:22 am | Posted By CASANSAAR
Small public sector banks, with assets of less than ₹2-lakh crore, should be readied for merger with five large PSBs, a Finance Ministry-appointed panel has recommended.
PSBs with less than ₹2 lakh crore assets (loans plus investments) include Andhra Bank, Bank of Maharashtra, Dena Bank, Pu...
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RBI slaps Rs 4.5 crore penalty on Dena Bank, OBC, Bank of Maharashtra
Posted Date : 30-Apr-2015 , 08:12:57 am | Posted By CASANSAAR
Three public sector banks -- Bank of Maharashtra, Dena Bank and Oriental Bank of Commerce -- have been imposed with a monetary penalty of Rs 1.5 crore each by the Reserve Bank of India (RBI) for violation of know your customer (KYC) and anti money laundering (AML) norms.
Dna...
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Rajya Sabha passes Regional Rural Banks Amendment Bill
Posted Date : 29-Apr-2015 , 11:35:26 am | Posted By CASANSAAR
The Rajya Sabha yesterday passed the Regional Rural Banks ( Amendment) Bill, 2014. The bill seeks to raise the authorised capital of Regional Rural Banks from five crore to 2,000 crore rupees and enable them to mop up funds from the capital market. Replying to a debate on the bill in the House, Mini...
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Bank Branches doing govt biz should be open on March 30 & 31: RBI
Posted Date : 26-Mar-2015 , 05:13:59 pm | Posted By CASANSAAR
The RBI has instructed all banks, who deal with government business, to keep designated branches open on March 30 and 31. In a notification issued yesterday, the apex bank asked that all such banks shall keep the counters of their designated branches open for full day on March 30 and 31st.
...
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Frauds worth Rs 11022 crore detected in PSU banks during April-December
Posted Date : 23-Mar-2015 , 08:14:37 am | Posted By CASANSAAR
PSU banks have reported over 2,100 fraud cases involving a sum of Rs 11,022 crore in the first nine months of the ongoing fiscal, with PNB reporting the maximum number of such instances.
An analysis of the data available with the Reserve Bank shows fraud cases, involving amount of Rs 1 lakh and a...
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Banks Can Raise Funds From Market to Meet Capital Needs - FinMin
Posted Date : 11-Mar-2015 , 06:51:19 pm | Posted By CASANSAAR
The government today said it has limited fiscal space to recapitalise PSU banks and they can raise funds from the market to meet their capital needs.
"The government doesn't have space to give Rs. 20,000 crore or 25,000 crore (for capital infusion) ... If banks require fu...
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Detail of Micro Units Development and Refinance Agency (Mudra) Bank
Posted Date : 01-Mar-2015 , 08:52:13 pm | Posted By CASANSAAR
According to the NSSO survey of 2013, there are 5.77 crore small business units, mostly individual proprietorships, which run small manufacturing, trading or services activities. Most of these ‘own account enterprises’ are owned by people belonging to Scheduled Caste, Scheduled Tribe or ...
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Government approves norms to appoint MDs, CEOs of 5 state-run banks
Posted Date : 27-Feb-2015 , 08:16:09 am | Posted By CASANSAAR
The government on Thursday approved new norms for the selection of managing directors and chief executive officers at five public sector banks (PSBs), paving way for the appointment of private sector candidates with flexible salary packages. The five banks are Bank of Baroda, Punjab National Ba...
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Public sector banks to remain closed on 2nd, 4th Saturdays
Posted Date : 24-Feb-2015 , 08:06:28 am | Posted By CASANSAAR
Second and fourth Saturdays will henceforth be holidays for banks. The remaining Saturdays in a month will be full working days.
This was one of the agreements arrived at the meeting of the Indian Banks' Association with associations of bank employees and staff in Mumbai on Monday.
...
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PSU bank unions threaten 4-day nation-wide strike from Feb 25
Posted Date : 21-Feb-2015 , 01:23:14 pm | Posted By CASANSAAR
The nation-wide strike is to press for the wage-related demands of bankers.
"Banks have been providing for a 15 per cent wage hike since November 2012. Thus, banks already have incorporated wage increase of 15 per cent into their accounting but their offering is 13 per cent only.
"This is not acce...
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Bank employees to go on 4-day strike from February 25
Posted Date : 16-Feb-2015 , 08:41:20 am | Posted By CASANSAAR
Bank employees are threatened to go on a strike for four days from February 25-28, followed by an indefinite strike from March 16th.
The announcement comes after wage negotiations talks, between the United Forum of Bank Unions (UFBU) and the Indian Banks Association (IBA), wa...
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Banks facing cash crunch want additional borrowing window from RBI on every Saturday
Posted Date : 09-Feb-2015 , 08:25:51 am | Posted By CASANSAAR
A liquidity mismatch in the banking system prompted the RBI to step in on Saturday and offer a two-day window to banks to tide over the situation.
On Friday, rates in the collateralized borrowing and lending obligation (CBLO) — a facility through which banks can adjust their liqui...
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Government Decides to Infuse Rs.6990 Crores in Nine Public Sector Banks (PSBs)
Posted Date : 07-Feb-2015 , 09:01:37 pm | Posted By CASANSAAR
Out of the current year’s budget, the Government of India has decided to infuse Rs.6990 crores in nine Public Sector Banks (PSBs) for which orders are being issued. This year, the Government of India has adopted a new criteria in which the banks which are more efficient would only be...
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Banks will now be able to convert loans into shares for taking over firms from truant borrowers
Posted Date : 04-Feb-2015 , 08:42:31 am | Posted By CASANSAAR
Banks will soon have the power to convert loans into shares for taking over companies from truant borrowers while promoters who step in to turn around projects will have some breathing space. Lenders will be allowed to hold as much as 30% equity in a company and insert a conversion clause in loan do...
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RBI receives more than 100 applicants for small & payments Banks
Posted Date : 03-Feb-2015 , 10:15:59 pm | Posted By CASANSAAR
Reserve Bank of India today said it has received 72 applications for small finance banks and 41 applications for payment banks. Top corporate houses such as Reliance Industries Limited, Aditya Birla Group, Airtel, Vodafone and Future Group have approached the RBI to seek licences to set up small fin...
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SC upholds changes in Sarfaesi Act; Banks free to decide NPAs
Posted Date : 30-Jan-2015 , 08:10:42 am | Posted By CASANSAAR
Dismissing appeals filed by around 60 companies, the Supreme Court on Wednesday upheld the amendment to the Securitisation Act that gave power to every financial institution to decide a period after which a bad loan can be declared as a non-performing asset (NPA).
Before the 2004 amendment ...
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Jan Dhan Yojna in Guinness World Records-11.5 crore accounts opened
Posted Date : 20-Jan-2015 , 10:47:06 pm | Posted By CASANSAAR
As many as 11.5 crore bank accounts have been opened under the Pradhan Mantri Jan Dhan Yojana, exceeding the enhanced target of 10 crore and covering 99.74 per cent of households, Finance Minister Arun Jaitley said today.
“Most of India today is included in the banking system,” ...
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Bank a/c opening target may result in many dormant accounts
Posted Date : 20-Jan-2015 , 08:28:51 am | Posted By CASANSAAR
Right incentives are needed to encourage financial inclusion rather than just providing banks with account-opening targets which could result in large number of dormant accounts, CCI chief Ashok Chawla said today.
Chawla, who had earlier served as Finance Secretary, said there are challenges ...
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Rs 15,000 crore remittance scam hits six Banks
Posted Date : 07-Jan-2015 , 04:28:08 pm | Posted By CASANSAAR
The Enforcement Directorate (ED) has unearthed a mega scam of fraudulent foreign remittances worth Rs 15,000 crore, involving a number of dubious importers. The scam involves importers depositing fake bills of entries (of imports) in banks and remittances are made to unknown people ou...
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Cashless transaction is one of the solutions to the menace of black money: PM
Posted Date : 03-Jan-2015 , 04:27:58 pm | Posted By CASANSAAR
Prime Minister Narendra Modi has said that cashless transaction is one of the solutions to the menace of black money. Addressing ICICI Foundation Day function in Mumbai Friday evening, Mr Modi advised banks to go for cashless transactions, which can help the government in rooting out the black money...
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Bank mergers to top agenda at PM-led 'Gyan Sangam' retreat
Posted Date : 02-Jan-2015 , 09:02:12 am | Posted By CASANSAAR
Mergers and acquisitions among public sector banks will be a major theme at the two-day 'Gyan Sangam' in Pune on 2-3 January - a retreat of chiefs of financial institutions which will be attended by Prime Minister Narendra Modi, finance minister Arun Jaitley and Reserve Bank of India Governor Raghur...
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Government Appoints MD & CEO of Four Nationalised Banks
Posted Date : 01-Jan-2015 , 08:27:07 am | Posted By CASANSAAR
Based on the recommendations of Appointments Board chaired by the Governor, the Reserve Bank of India (RBI), the Department of Financial Services (DFS), Ministry of Finance, Government of India announced the appointment of MD & CEO of four Nationalised Banks. The appointments announced are as fo...
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Now, post offices can provide ATM cards, Account statements
Posted Date : 31-Dec-2014 , 08:24:50 am | Posted By CASANSAAR
Post office savings bank accounts can now be operated through ATMs. The Centre has amended the Post Office Savings Bank General Rules accordingly following the Budget announcement in this regard.
This facility, however, will be available only in post offices that are on core banking solutio...
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No RTI on restructuring of corporate debt: CDR cell of RBI
Posted Date : 25-Dec-2014 , 10:17:50 am | Posted By CASANSAAR
Corporate Debt Restructuring cell of Reserve Bank of India, which has eased loan repayment worth Rs 3.7 lakh crore for top-end businessmen of the country, has refused to reply to an RTI query about its operations saying transparency law does not apply on it. Former Information Commissi...
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Govt banks' NPA write-offs double in three years
Posted Date : 22-Dec-2014 , 09:26:03 pm | Posted By CASANSAAR
The amount of bad loans written off or restructured by the public sector banks (PSB) has more than doubled in the past three years ending March 2014 to Rs 42,447 crore.
The rise in bad loans is being attributed to a slowdown in the economy which slipped to below five per cent in the two c...
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RBI Fines ICICI, Bank of Baroda Over Know Your Customer Norms
Posted Date : 17-Dec-2014 , 10:12:07 pm | Posted By CASANSAAR
Reserve Bank of India (RBI) has imposed monetary penalty on two banks (ICICI Bank and Bank of Baroda) and cautioned three banks (State Bank of India, Axis Bank and State Bank of Patiala) for violating Know Your Customer (KYC)/ Anti Money Laundering (AML) instructions.
ICICI Bank and Bank of...
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