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News Category : Banking

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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Category : Banking | Comments : 0 | Hits : 231

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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Category : Banking | Comments : 0 | Hits : 124

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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Category : Banking | Comments : 0 | Hits : 370

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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Category : Banking | Comments : 0 | Hits : 125

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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Category : Banking | Comments : 0 | Hits : 310

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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Category : Banking | Comments : 0 | Hits : 101

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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Category : Banking | Comments : 0 | Hits : 118

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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Category : Banking | Comments : 0 | Hits : 646

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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Category : Banking | Comments : 0 | Hits : 428

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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Category : Banking | Comments : 0 | Hits : 326

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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Category : Banking | Comments : 0 | Hits : 263

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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Category : Banking | Comments : 0 | Hits : 318

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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Category : Banking | Comments : 0 | Hits : 304

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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Category : Banking | Comments : 0 | Hits : 156

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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Category : Banking | Comments : 0 | Hits : 348

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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Category : Banking | Comments : 0 | Hits : 210

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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Category : Banking | Comments : 0 | Hits : 218

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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Category : Banking | Comments : 0 | Hits : 310

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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Category : Banking | Comments : 0 | Hits : 696

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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Category : Banking | Comments : 0 | Hits : 209

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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Category : Banking | Comments : 0 | Hits : 376

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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Category : Banking | Comments : 0 | Hits : 464

Bank of Baroda, Dena Bank and Vijaya Bank to appoint valuers for merger
Posted Date : 26-Oct-2018 , 09:28:54 am | Posted By CASANSAAR

Bank of Baroda (BoB), Dena Bank and Vijaya Bank will appoint valuers ahead of their merger. The three public sector banks have floated a request for proposal (RFP) to appoint valuers for an independent valuation of their respective banks for the proposed merger. "The boards of the three bank...

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Category : Banking | Comments : 0 | Hits : 463

RBI approves appointment of Sandeep Bakhshi as MD & CEO of ICICI Bank
Posted Date : 16-Oct-2018 , 10:14:39 pm | Posted By CASANSAAR

Private sector lender ICICI Bank Tuesday said the RBI has approved Sandeep Bakshi's appointment as Managing Director and CEO of the bank for three years. After the resignation of Chanda Kochhar, who was facing inquiry, earlier this month, the bank's board had elevated Chief Operating Officer...

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Category : Banking | Comments : 0 | Hits : 375

Internet banking may not work for some SBI users from Dec 1
Posted Date : 14-Oct-2018 , 08:34:05 am | Posted By CASANSAAR

The State Bank of India (SBI) has asked its users to register their mobile numbers, if not already done, with the lender if they want to continue internet banking services. The country's largest lender has, in a notification, said that if the registration of mobile numbers with the respective br...

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Category : Banking | Comments : 0 | Hits : 501

PNB MD rules out acquiring other public sector banks
Posted Date : 07-Oct-2018 , 05:34:44 pm | Posted By CASANSAAR

Ruling out possibility of inorganic expansion, Punjab National Bank Managing Director Sunil Mehta said the bank is currently focussed on internal consolidation and making it financially healthy. With Rs 14,000 crore Nirav Modi episode getting out of scene, the bank is focussing on growth and recover...

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Category : Banking | Comments : 0 | Hits : 603

Chanda Kochhar quits ICICI Bank; Sandeep Bakhshi appointed new CEO
Posted Date : 04-Oct-2018 , 08:45:30 pm | Posted By CASANSAAR

Private lender ICICI Bank on Thursday said that it has accepted Chanda Kochhar's request for early retirement, the bank informed the stock exchanges. "The board of directors of ICICI Bank Limited, accepted the request of Ms Chanda Kochhar to seek early retirement from the bank at the ear...

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Category : Banking | Comments : 0 | Hits : 488

Bank of Maharashtra closes 51 branches to cut costs
Posted Date : 04-Oct-2018 , 08:16:03 am | Posted By CASANSAAR

The BoM had hit headlines after Maharashtra police had nabbed its Chairman-cum-Managing Director Ravindra Marathe and five others for the alleged Rs 2,043-crore scam involving the prominent realtor, DSK Group of Pune.  From October 1, the 51 branches - all in urban centres across India which...

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Category : Banking | Comments : 0 | Hits : 658

SBI halves daily ATM cash withdrawal limit to Rs 20,000
Posted Date : 01-Oct-2018 , 09:10:49 am | Posted By CASANSAAR

The country’s largest lender, State Bank of India (SBI), has lowered the ATM cash withdrawal limit to Rs 20,000 a day, from Rs 40,000. The lower limit will be effective from October 31.  “In view of the increase in the number of complaints received by banks around fraudulent tran...

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Category : Banking | Comments : 0 | Hits : 363

RBI slaps Rs 5 crore penalty on Karur Vysya Bank
Posted Date : 29-Sep-2018 , 08:33:26 am | Posted By CASANSAAR

The Reserve Bank of India has imposed a penalty of Rs 5 crore on Karur Vysya Bank for non-compliance of its directives.  According to a RBI statement on Friday, the penalty was imposed for non-compliance with its directions on "Income Recognition and Asset Classification (IRAC) norms, r...

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Category : Banking | Comments : 0 | Hits : 765

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