Bank of Baroda looks to rationalise 800-900 branches aafter merger
Posted Date : 21-May-2019 , 10:08:49 am | Posted By CASANSAAR
State-owned Bank of Baroda (BoB) is considering the option of rationalising 800-900 branches across the country to improve operational efficiency, following its merger with Dena Bank and Vijaya Bank.
The merger of Dena Bank and Vijaya Bank with BoB became effective from April 1.
It does not ma...
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Govt raises authorised capital of Allahabad Bank to Rs 8,000 Cr
Posted Date : 24-Apr-2019 , 09:25:37 am | Posted By CASANSAAR
State-owned Allahabad Bank said Tuesday the government has increased its authorised capital by Rs 5,000 crore to Rs 8,000 crore.
The central government after consultation with the Reserve Bank of India has increased the authorised capital of the bank from Rs 3,000 to Rs 8,000 through Gazette Noti...
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Banks Board Bureau identifies 75 senior officers for leadership roles in PSBs
Posted Date : 19-Apr-2019 , 10:18:17 pm | Posted By CASANSAAR
The Banks Board Bureau (BBB), the apex body for selection of whole-time directors of state-owned lenders, has identified 75 senior management personnel of public sector lenders to take over leadership role in the future.
From a pool of 450 senior management personnel across nationalised banks, an...
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Bank of Baroda becomes second largest PSU bank after SBI
Posted Date : 01-Apr-2019 , 06:19:46 pm | Posted By CASANSAAR
Bank of Baroda (BoB) on Monday became the second largest state-owned lender after merging Dena Bank and Vijaya Bank into itself as part of the first three-way amalgamation.
The consolidated entity started its operation with a business mix of over Rs 15 lakh crore of balance sheet, with deposits a...
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Branches of Vijaya, Dena Bank to function as BoB outlets from Monday - RBI
Posted Date : 31-Mar-2019 , 12:42:52 pm | Posted By CASANSAAR
Branches of Vijaya Bank and Dena Bank will function as Bank of Baroda outlets from April 1, following amalgamation of the two lenders with the latter, the RBI said on Saturday. The merger of Vijaya Bank and Dena Bank with Bank of Baroda, will be effective from April 1, 2019.
“Consequently, ...
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SC refuses to stay merger of Vijaya, Dena banks with Bank of Baroda
Posted Date : 29-Mar-2019 , 12:34:07 pm | Posted By CASANSAAR
Clearing decks for the scheduled merger of three public sector lenders -- Vijaya Bank, Dena Bank and Bank of Baroda -- the Supreme Court on Thursday refused to stay the amalgamation.
The top court dismissed the applications filed by several bank officers' associations for staying the merger, ...
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IDBI Bank Officers’ Association to go on hunger strike on March 30
Posted Date : 26-Mar-2019 , 07:46:49 pm | Posted By CASANSAAR
IDBI Bank on Tuesday said its all-India Officers’ Association will observe a one-day nationwide hunger strike on March 30, over various demands.
“The Bank is in receipt of notice of one-day nationwide hunger strike on March 30, 2019 from All India IDBI Officers’ Association (AII...
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Karnataka Bank reports Rs 13 Cr fraud to RBI
Posted Date : 25-Mar-2019 , 08:52:33 am | Posted By CASANSAAR
Karnataka Bank on Saturday said it has reported to regulator RBI about a fraud amounting to Rs 13.26 crore in the fund-based working capital facility extended to SRS Finance Ltd.
The fraud was on account of "diversion of funds", the lender said in a BSE filing.
The bank e...
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IDBI Bank invites application for two deputy MDs
Posted Date : 05-Mar-2019 , 09:32:26 am | Posted By CASANSAAR
Life Insurance Corporation (LIC)- owned IDBI Bank has invited application for two deputy managing directors. LIC had completed acquisition of 51 percent stake in IDBI Bank in January.
Currently, there are two DMDs at the bank - KP Nair and GM Yadwadkar who are due for retirement soon. The n...
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ED to review loans sanctioned during Chanda Kochhar’s tenure
Posted Date : 05-Mar-2019 , 09:27:48 am | Posted By CASANSAAR
In light of similarities observed in suspect credit transactions into the account of Nupower Renewables Private Limited, owned by Deepak Kochhar, the Enforcement Directorate has decided to expand the scope of its investigation and examine other large loans sanctioned by the ICICI bank during the tim...
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Govt appoints Hasmukh Adhia as Chairman of Bank of Baroda
Posted Date : 01-Mar-2019 , 09:17:09 pm | Posted By CASANSAAR
The government Friday appointed former Finance Secretary Hasmukh Adhia as chairman of state-owned Bank of Baroda (BoB).
Bank of Baroda is set to become the third largest lender of the country after amalgamation with Vijaya Bank and Dena Bank effective 1 April.
"Shri #Hasmukh Adhia, former...
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Public Sector Banks are lifeline of Indian economy - Finance Minister
Posted Date : 28-Feb-2019 , 08:25:16 pm | Posted By CASANSAAR
The Union Minister of Finance & Corporate Affairs, Arun Jaitley said the Public Sector Banks (PSBs) are the lifeline of Indian economy. He said that if their health is not good, then economy at large will also suffer. The Finance Minister, Arun Jaitley was speaking at the Conference on 'Refo...
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CBI issues lookout circular against Chanda Kochhar
Posted Date : 22-Feb-2019 , 03:06:22 pm | Posted By CASANSAAR
After charging her for corruption and cheating last month, the Central Bureau of Investigation (CBI) has alerted the immigration authorities at all the airports and entry-exit points across the country to inform it if former ICICI Bank CEO Chanda Kochhar + tries to leave the country.
Highly place...
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Govt to infuse Rs 48,239 Cr in 12 Public Sector Banks
Posted Date : 20-Feb-2019 , 10:34:08 pm | Posted By CASANSAAR
The government has approved recapitalisation of Rs 48,239 crore in 12 public sector banks, including fraud-hit Punjab National Bank.
It will pump Rs 6,896 crore in Allahabad Bank, Rs 4,112 crore in Union Bank, Rs 4,638 crore in Bank of India, Rs 205 crore in Bank of Maharashtra and Rs 9,086...
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Banks may have to write off nearly Rs 30,000 cr of loan to IL&FS entities
Posted Date : 19-Feb-2019 , 05:10:25 pm | Posted By CASANSAAR
Financial institutions that have lent money to IL&FS group companies could be collectively staring at a write-off of nearly Rs 30,000 crore, a source told Moneycontrol.
That is because Rs 65,000 crore of the outstanding loans are to IL&FS groups classified in the ‘red’ categor...
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IDBI Bank may now become LIC IDBI Bank or LIC Bank
Posted Date : 05-Feb-2019 , 07:01:20 am | Posted By CASANSAAR
The board of IDBI Bank Monday proposed change in the name of the lender to either LIC IDBI Bank or LIC Bank following its takeover by Life Insurance Corporation.
Last month, the insurance behemoth completed the acquisition of 51 per cent controlling stake in IDBI Bank, marking the entry of more t...
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RBI lifts lending restrictions of BoI, BoM and OBC
Posted Date : 31-Jan-2019 , 10:24:50 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Thursday removed three state-owned banks from its weak-bank watch list, a move that will lift lending restrictions on them.
"It has been decided that Bank of India (BoI) and Bank of Maharashtra (BoM) which meet the regulatory norms including Capital Conserv...
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Govt empowers PSU banks to seek lookout circulars against wilful defaulters
Posted Date : 28-Jan-2019 , 08:42:36 am | Posted By CASANSAAR
In a bid to prevent big economic offenders like Vijay Mallya and Nirav Modi from fleeing the country, the government has empowered PSU banks to request lookout circulars (LOCs) against wilful defaulters and fraudsters, officials said on Sunday.
The Home Ministry has also authorised the Serious Fr...
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IDFC Bank re-named IDFC First Bank
Posted Date : 13-Jan-2019 , 03:18:45 pm | Posted By CASANSAAR
Private sector lender IDFC Bank said its name has been changed to IDFC First Bank Ltd with effect from Saturday. “...the name of the Bank has been changed from IDFC Bank Ltd to ‘IDFC First Bank Limited’ with effect from January 12, 2019 by virtue of ‘Certificate of Incorporat...
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Banking services may be hit as bank unions call for strike on January 8-9
Posted Date : 07-Jan-2019 , 09:27:33 am | Posted By CASANSAAR
Banking services are likely to be affected on January 8-9 as a section of PSU bank employees would go on a two-day strike in support of the nation-wide strike call given by 10 central trade unions against the government's alleged anti-worker policy.
The All India Bank Employees Associat...
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Bank of Baroda to become larger than ICICI Bank from 1 April
Posted Date : 03-Jan-2019 , 10:34:55 pm | Posted By CASANSAAR
Powered by the business of Dena Bank and Vijaya Bank, Bank of Baroda will become larger than ICICI Bank from 1 April following completion of the amalgamation process of three state-run banks. After State Bank of India (SBI) and HDFC Bank, with businesses of Rs 45.85 trillion and Rs 15.8 trillion res...
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Cabinet approves merger of Dena, Vijaya Bank with Bank of Baroda
Posted Date : 02-Jan-2019 , 06:21:13 pm | Posted By CASANSAAR
The Union Cabinet approved the first-ever three-way merger in the history of Indian banking with the amalgamation of state-owned Vijaya Bank, Dena Bank and Bank of Baroda (BoB).
"There will be no impact on the service conditions of the employees and there will be no retrenchment followi...
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PSBs approve loans worth over Rs 37,400 cr for MSME sector
Posted Date : 29-Dec-2018 , 09:47:57 am | Posted By CASANSAAR
Public sector banks have approved more than 1.12 lakh loan applications of MSMEs worth of 37,412 crore rupees under the '59 minutes' loan scheme launched by the government last month.
GST-registered Micro, Small and Medium Enterprises (MSMEs) can take loan up to one crore in just 59 minutes...
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HC rejects plea against LIC move to acquire 51 pc stake in IDBI
Posted Date : 18-Dec-2018 , 08:54:41 am | Posted By CASANSAAR
The Delhi High Court on Monday dismissed a plea challenging the LIC move to acquire 51 per cent stake in the Industrial Development Bank of India (IDBI).
Justice Vibhu Bakhru rejected the petition by the All India IDBI Officers Association, which had opposed the move of Life Insurance Corporation...
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PSU Banks recover Rs 2.33 lakh cr worth of bad loans during 4 years
Posted Date : 18-Dec-2018 , 08:53:18 am | Posted By CASANSAAR
Minister of State for Finance Shiv Pratap Shukla informed Parliament that Public Sector Banks (PSBs) have recovered 2.33 lakh crore rupees worth of bad loans during the four years from financial year 2014-15 to fiscal 2017-18.
In a written reply to the Lok Sabha yesterday, Mr Shukla informe...
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PSU banks do not have any plan to shut down ATMs - Govt
Posted Date : 15-Dec-2018 , 01:50:07 pm | Posted By CASANSAAR
Minister of State for Finance Shiv Pratap Shukla has clarified that Public Sector Banks (PSBs) do not have any plans to shut down their ATMs. His statement assumes significance amidst a report by the Confederation of ATM industry warning that nearly half of the 2.38 lakh machines run the risk of clo...
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Bank of Maharashtra appoints CA Rajeev as MD and CEO
Posted Date : 03-Dec-2018 , 06:58:18 am | Posted By CASANSAAR
State-owned Bank of Maharashtra announced on Sunday that AS Rajeev has joined the lender as its managing director and chief executive officer.
"AS Rajeev has joined Bank of Maharashtra as managing director and chief executive officer on Dec. 2, 2018. Prior to this, he was executive director ...
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Union Bank to raise up to Rs 600 cr by issuing shares under ESPS
Posted Date : 14-Nov-2018 , 09:12:39 am | Posted By CASANSAAR
The board of Union Bank of India has cleared a proposal to raise up to Rs 600 crore by issuing shares to its staff under the employee share purchase scheme.
The proposal was approved in a board meeting on Monday, the bank said in a regulatory filing. The bank proposes to raise capital through iss...
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Only 4 PSBs disclose defaulters list
Posted Date : 13-Nov-2018 , 09:43:47 am | Posted By CASANSAAR
Even as the government and the central bank remain reluctant to make the names of wilful defaulters public, four state owned banks have already made this information available on their websites.
On November 2, the Central Information Commission sent a notice to the RBI and PM’s office askin...
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4 public sector banks may come out of PCA shackles
Posted Date : 09-Nov-2018 , 09:26:14 am | Posted By CASANSAAR
The government expects four public sector banks (PSBs) to graduate from the Reserve Bank’s prompt corrective action framework based on their improved financial performance.
The government will cite this to persuade RBI to relax the PCA regime for the remaining seven banks so that they...
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