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News - (Get Professional Updates on Whatsapp, Msg on 8285393786) Category : Banking

Govt. designates single SBI branch for all FCRA accounts
Posted Date : 14-Oct-2020 , 09:39:18 am | Posted By CASANSAAR

The Ministry of Home Affairs (MHA) has asked all NGOs seeking foreign donations to open a designated FCRA account at the State Bank of India’s New Delhi branch by March 31, 2021. The MHA order reiterated that NGOs registered under FCRA shall not receive any foreign donations in any other ba...

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Category : Banking | Comments : 0 | Hits : 864

Parliament clears banking regulation bill to bring co-op banks under RBI
Posted Date : 23-Sep-2020 , 09:33:08 am | Posted By CASANSAAR

The Rajya Sabha on Tuesday passed the Banking Regulation (Amendment) Bill, 2020, that aims to bring co-operative banks under the regulatory framework of the Reserve Bank of India (RBI). Finance minister Nirmala Sitharaman said the amendments have been brought with singular objective of protecting...

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Category : Banking | Comments : 0 | Hits : 325

Lok Sabha passes Banking Regulation (Amendment)Bill, 2020
Posted Date : 17-Sep-2020 , 10:01:16 am | Posted By CASANSAAR

Considering the deteriorating condition of cooperative banks in the country, Lok Sabha on Wednesday passed the Banking Regulation (Amendment) Bill, 2020. The Bill proposes amendments to the Banking Regulation Act, 1949. With this new Bill, the central government aims to bring cooperative banks under...

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Category : Banking | Comments : 0 | Hits : 258

FM Nirmala Sitharaman unveils Doorstep Banking Services
Posted Date : 10-Sep-2020 , 09:29:11 am | Posted By CASANSAAR

Finance Minister Nirmala Sitharaman on Wednesday launched doorstep banking services for public sector banks in order to facilitate hassle-free and convenient banking. "At this stage, the catalysts for economic revival, the catalysts who have the pulse of every one of their customers, are ban...

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Category : Banking | Comments : 0 | Hits : 492

State Bank of India planning VRS scheme for over 30,000 employees
Posted Date : 08-Sep-2020 , 10:33:02 am | Posted By CASANSAAR

The State Bank of India (SBI) is planning a voluntary retirement scheme (VRS) for which over 30,000 employees will be eligible. According to a report in news agency PTI, the state-lender is planning the VRS scheme to optimise its costs. Out of the 2.49 lakh employees of the bank, at least 30,190 ...

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Category : Banking | Comments : 0 | Hits : 432

4 PSU Banks to become private by end of this year
Posted Date : 21-Aug-2020 , 09:52:53 am | Posted By CASANSAAR

The government may privatise four PSU banks as early as by the end of this fiscal year, Reuters reported citing unidentified officials. The government has drawn a list of four PSU banks, namely, Punjab & Sind Bank, Bank of Maharashtra, UCO Bank, and IDBI Bank, in which it directly or indirectly ...

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Category : Banking | Comments : 0 | Hits : 1708

Bank of Maharashtra writes off Rs 7,000 Cr owed by loan defaulters
Posted Date : 18-Aug-2020 , 10:23:57 am | Posted By CASANSAAR

The Bank of Maharashtra, a public sector bank, has “technically written off” a staggering over Rs 7,000 crore owed by loan defaulters in the last four years. The bank has said that it would recover the amount at a later stage and that it has not been waived permanently. Activist and b...

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Category : Banking | Comments : 0 | Hits : 314

Sashidhar Jagdishan appointed new HDFC Bank CEO
Posted Date : 05-Aug-2020 , 08:42:46 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has approved Sashidhar Jagdishan as the next chief executive officer of HDFC Bank, sources said. The private sector lender received the RBI’s approval letter last night. Jagdishan is currently additional director and head of finance, human resources, at the b...

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Category : Banking | Comments : 0 | Hits : 273

Bandhan Bank holding firm sells 20.95% stake to meet RBI norms
Posted Date : 04-Aug-2020 , 10:38:11 am | Posted By CASANSAAR

Bandhan Bank Ltd on Monday said it has met the promoter holding norms of the Reserve Bank of India (RBI) after its holding company Bandhan Financial Holdings Ltd (BFHL) sold 20.95% stake in the bank to at least seven investors. The buyers included Singapore’s state investors GIC and Temasek...

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Category : Banking | Comments : 0 | Hits : 151

PM Modi to discuss vision, roadmap for Banks, NBFCs with all stakeholders this evening
Posted Date : 29-Jul-2020 , 10:16:36 am | Posted By CASANSAAR

Prime Minister Narendra Modi will today join stakeholders from Banks and NBFCs to discuss and deliberate on vision and roadmap for the future. The topics on agenda include credit products and efficient models for delivery, financial empowerment through technology, prudential practices for stability ...

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Category : Banking | Comments : 0 | Hits : 216

Govt plans to reduce number of PSU banks to just Five
Posted Date : 21-Jul-2020 , 08:50:09 am | Posted By CASANSAAR

India is looking to privatise more than half of its state-owned banks to reduce the number of government-owned lenders to just five as part of an overhaul of the banking industry, government and banking sources said. The first part of the plan would be to sell majority stakes in Bank of India, Ce...

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Category : Banking | Comments : 0 | Hits : 687

CBI registered 14,429 Cr of bank fraud cases in first half of 2020
Posted Date : 14-Jun-2020 , 10:49:46 am | Posted By CASANSAAR

In the first six months of 2020, the Central Bureau of Investigation has registered 40 cases of bank frauds and is probing bad loans worth over Rs 14,400 crore. From probing the poster boy of the Indian banking industry to investigating an educational portal of bank fraud, the agency has remained...

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Category : Banking | Comments : 0 | Hits : 717

Banks Board Bureau recommends new appointments for SBI, IOB, Central Bank of India
Posted Date : 01-Jun-2020 , 10:28:01 am | Posted By CASANSAAR

The Banks Board Bureau (BBB) has recommended the elevation of Ashwani Bhatia as Managing Director of State Bank of India. The Bureau also recommended the appointment of Matam Venkat Rao and PP Sengupta as MD & CEO of Central Bank of India and Indian Overseas Bank, respectively.   T...

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Category : Banking | Comments : 0 | Hits : 1260

Public sector banks sanction loans worth 6 lakh Cr in two months
Posted Date : 13-May-2020 , 12:13:41 pm | Posted By CASANSAAR

Public sector banks (PSBs) have sanctioned loans worth Rs 5.95 lakh crore in the last two months to various sectors, including MSME, agriculture and corporate, hit hard by COVID-19-induced nationwide lockdown. Non-bank finance companies (NBFCs) have received Rs 1.18 lakh crore from these banks du...

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Category : Banking | Comments : 0 | Hits : 444

IBA wants to house Rs 75,000 Cr bad loans via Bad Bank
Posted Date : 12-May-2020 , 10:45:53 am | Posted By CASANSAAR

The Indian Banks Association (IBA) has firmed up a proposal to house approximately Rs 70,000-75,000 crore of bad loans at book value in its proposed ‘bad bank’, two people aware of the development told CNBC-TV18. IBA received comments from member banks over the weekend and has now giv...

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Category : Banking | Comments : 0 | Hits : 309

SBI complains to CBI after Rs 411 Cr loan defaulter flee country
Posted Date : 10-May-2020 , 08:18:15 am | Posted By CASANSAAR

Three promoters of Ram Dev International, recently booked by the CBI for allegedly cheating a consortium of six banks to the tune of Rs 411 crore, have already fled the country before the State Bank of India reached the agency with the complaint, officials said on Saturday. The CBI had recently b...

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Category : Banking | Comments : 0 | Hits : 406

Govt declares banking industry as a public utility service for six months till October 21
Posted Date : 25-Apr-2020 , 10:27:09 am | Posted By CASANSAAR

Government has declared banking industry as a public utility service for six months till October 21 under the provisions of the Industrial Disputes Act. Bringing banking services under the provisions of this Act means that the banking sector would not see any strikes by employees or officers duri...

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Category : Banking | Comments : 0 | Hits : 1024

ED attaches assets worth Rs.175.29 Cr in bank fraud case
Posted Date : 21-Apr-2020 , 11:08:05 am | Posted By CASANSAAR

The Enforcement Directorate (ED) has attached 124 immovable properties worth more than Rs 175 crore of a West Bengal-based company in connection with a money laundering probe linked to an alleged bank fraud case, the agency said on Monday. It said a provisional order for attachment of the assets ...

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Category : Banking | Comments : 0 | Hits : 2309

Chinese Central Bank picks up 1.75 Cr Shares in HDFC
Posted Date : 13-Apr-2020 , 09:13:52 am | Posted By CASANSAAR

The People’s Bank of China (PBoC) purchased 1.75 crore shares in one of the largest housing finance lenders, HDFC Ltd, possibly in the March quarter. The Chinese Central Bank has bought 1,74,92,909 crore shares, or 1.01 percent of the shareholding, according to exchange data. The share purc...

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Category : Banking | Comments : 0 | Hits : 991

Banks ask customers to be cautious against frauds
Posted Date : 11-Apr-2020 , 11:22:32 am | Posted By CASANSAAR

Several banks have cautioned their customers against possible attempts by fraudsters as they became active to exploit the three-month loan repayment moratorium offer in the wake of the coronavirus outbreak, officials said on Friday. The cyber criminals pretending as officials of banks have b...

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Category : Banking | Comments : 0 | Hits : 374

Punjab National Bank unveils new logo ahead of merger
Posted Date : 31-Mar-2020 , 09:39:31 am | Posted By CASANSAAR

Ahead of its merger with the United Bank of India (UBI) and the Oriental Bank of Commerce (OBC) from April 1, Punjab National Bank (PNB) today unveiled a new logo which bears the signages of all the three PSU banks. From the next financial year, PNB will become the second largest lender in India aft...

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Category : Banking | Comments : 0 | Hits : 5783

Bank branches to provide only essential services from March 23 - IBA
Posted Date : 23-Mar-2020 , 08:37:25 am | Posted By CASANSAAR

With the impact of the coronavirus pandemic being felt across the country, the Indian Banks’ Association (IBA) on Sunday said bank branches will provide only essential services such as cash deposits and withdrawals, clearing of cheques, remittances and government transactions from March 23, 20...

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Category : Banking | Comments : 0 | Hits : 328

YES Bank gets Rs 60k Cr credit line from RBI to resume operations
Posted Date : 19-Mar-2020 , 08:38:53 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has extended a credit line of Rs 60,000 crore to YES Bank to ensure that the bank is able to meet its obligations to depositors as it resumed its full-service operations on Wednesday, according to sources familiar with the development. RBI Governor Shaktikanta Das ...

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Category : Banking | Comments : 0 | Hits : 235

Bank branches could be shut for 4 days next week due to strike, holidays
Posted Date : 18-Mar-2020 , 09:20:01 am | Posted By CASANSAAR

Bank branches could be open only for three days next week due to a day-long bank strike and other bank holidays. To protest against the mega merger plan of 10 PSU banks into four larger banks, the All India Bank Employees' Association (AIBEA) and All India Bank Officers' Association (AIBOA) ...

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Category : Banking | Comments : 0 | Hits : 975

Cabinet approves reconstruction scheme for Yes Bank
Posted Date : 13-Mar-2020 , 10:12:51 pm | Posted By CASANSAAR

The Union Cabinet Friday approved reconstruction scheme for Yes Bank under which SBI will acquire 49 per cent stake in the crisis-ridden private sector bank. Finance Minister Nirmala Sitharaman said the Union Cabinet has approved the reconstruction scheme for Yes Bank as suggested by the Reserve ...

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Category : Banking | Comments : 0 | Hits : 364

Finance Minister reviews amalgamation of public sector banks
Posted Date : 13-Mar-2020 , 08:38:18 am | Posted By CASANSAAR

Finance minister Nirmala Sitharaman on Thursday reviewed the progress on the amalgamation of public sector banks that is expected to come into effect from April 1. “Amalgamating PSBs made a presentation to Hon. FM Nirmala Sitharaman on their preparedness. Amalgamated PSBs to ensure no disru...

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Category : Banking | Comments : 0 | Hits : 304

Govt imposes withdrawal limit of Rs 50,000 for depositors of Yes Bank for a month
Posted Date : 06-Mar-2020 , 09:53:19 am | Posted By CASANSAAR

The government has imposed a withdrawal limit of 50,000 rupees for depositors of beleaguered private lender Yes Bank for one month. An official notification issued by the finance ministry said that the cap will stay in effect till 3rd of April. The limit on withdrawal comes with a few exemptions, in...

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Category : Banking | Comments : 0 | Hits : 181

Bombay HC Dismisses Chanda Kochhar challenge to sacking as ICICI Bank CEO
Posted Date : 05-Mar-2020 , 08:59:04 pm | Posted By CASANSAAR

The Bombay High Court on Thursday dismissed a petition filed by Chanda Kochhar against her termination as managing director and CEO of the ICICI Bank, noting the dispute arises from a contract of personal service. A division bench of Justices NM Jamdar and MS Karnik accepted the bank's conten...

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Category : Banking | Comments : 0 | Hits : 128

Cabinet approves Mega Consolidation in Public Sector Banks {PSBs} with effect from 1.4.2020
Posted Date : 04-Mar-2020 , 04:33:11 pm | Posted By CASANSAAR

The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved the mega consolidation of ten PSBs into four which include the - (a)  Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank (b)  Amalgamation of Syndicate Bank into ...

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Category : Banking | Comments : 0 | Hits : 1254

Govt may notify merger of 10 PSBs to 4 this week
Posted Date : 10-Feb-2020 , 10:18:18 am | Posted By CASANSAAR

The government is likely to notify the merger of 10 public sector banks to create four big lenders later this week, as they have completed the groundwork for the same, two people familiar with the development said. After it is notified, the respective bank boards will meet to give their customary...

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Category : Banking | Comments : 0 | Hits : 562

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