RBI imposes Rs 15 lakh penalty on Baghat Urban Co-operative Bank, Solan
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The RBI on Wednesday said it has imposed a penalty of Rs 15 lakh on The Baghat Urban Co-operative Bank Limited, Solan, for violation of certain norms, including, those related to NPA classification
Karnataka Bank launches KBL FASTag for seamless toll deduction
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Karnataka Bank on Wednesday launched KBL FASTag for seamless movement of vehicles at toll plazas by facilitating automatic deduction of the toll amount.
Karnataka Bank launched its KBL FASTag, a pre-loaded payment instrument to facilitate seamless movement o
Banks have been asked to create state-wise plans for north-east: FM
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A push to credit growth from such outreach efforts will also help the momentum set by the stimulus packages, which have been extended by the government since the onset of the pandemic.
FM asks banks to work with states to push one district, one product' agenda
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Finance Minister Nirmala Sitharaman on Wednesday said she has requested banks to work with all state governments to push the one district, one product' agenda
ICICI bank files cheating case against Karvy Stock Broking Ltd
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A case has been registered against Karvy Stock Broking Ltd promoter C. Parthasarathy and others for allegedly cheating ICICI Bank to the tune of Rs 563 crore.
RBI approves re-appointment of Sandeep Bakhshi as ICICI Bank MD & CEO
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The shareholders at the annual general meeting held on August 9, 2019, had already approved the appointment of Bakhshi for a period effective from October 15, 2018, upto October 3, 2023
Centrum to merge Micro credit, SME biz with small fin bank for Rs 426 cr
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The transfer, via a slump sale is subject to shareholders, statutory and regulatory approvals. Centrum has indicated the transaction would be completed in two months
MFIs, Assam govt sign MoU for microfinance incentive and relief scheme
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Microfinance Institutions Network on Tuesday said 37 microlenders and Assam government have signed an MoU for joint implementation of the Assam Microfinance Incentive and Relief Scheme (AMFIRS), 2021
HDFC Bank divests over 25% stake in CDSL for Rs 223 crore
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HDFC Bank sold 23,11,000 equity shares of face value of Rs 10 each fully paid up held by the bank in CDSL through the secondary market route on the NSE
FM Nirmala Sitharaman to meet CEOs of public sector banks on Wednesday
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Finance Minister Nirmala Sitharaman will meet heads of PSBs on Wednesday to review financial performance of the lenders and progress made by them in supporting the pandemic-hit economy, sources said.
Bank of India plans to raise Rs 3,000 cr equity capital via QIP
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The bank will also utilise the proceeds of the QIP for developing app based retail loan applications and offer electronic bill discounting facility, they added.
Punjab & Sind Bank sets off accumulated losses of Rs 3,577 crore
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Punjab & Sind Bank (PSB) on Monday said it has set off accumulated losses of over Rs 3,577 crore against the share premium account of the bank.
The bank had obtained approval of shareholders in its AGM in July to set off the accumulated losses from the shar
RBI panel suggests umbrella body for helping smaller UCBs scale up
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With changes to Banking Regulation Act, RBI is now empowered to regulate UCBs, and help bring about a tiered regulatory structure for these lenders in sync with their sizes
RBI appointed panel suggests 4-tier structure for Urban Co-operative Banks
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It has suggested that the minimum Capital to Risk-Weighted Assets Ratio (CRAR) for them could vary from 9 per cent to 15 per cent and for Tier-4 UCBs the Basel III prescribed norms.
RBI's forex reserves set to top $655 billion by March 2022: Report
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As central bank continues to increase forex reserves by running down forward book which totalled $42 billion as of end-July, signalling its strong resolve to build a bigger reserve
HDFC Bank aims to issue 300,000 credit cards per month from next quarter
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HDFC Bank is looking at winning back the market share by number of cards in the next one year, a senior official said on Monday.
The largest private sector lender by assets was allowed to issue new credit cards by the RBI last week, over eight months after b
IBA seeks licence to set up Rs 6,000-cr bad bank, RBI nod soon: Report
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The Indian Banks' Association (IBA) has moved an application to the Reserve Bank of India (RBI) seeking licence to set up a Rs 6,000-crore National Asset Reconstruction Company Ltd (NARCL) or bad bank, according to sources.
NARCL was incorporated last month
Karnataka Bank plans to raise Rs 6,000 crore via debt this fiscal
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Karnataka Bank plans to raise up to Rs 6,000 crore debt capital during the current financial year, and it will seek shareholders' approval in the ensuing AGM next month
Post LIC IPO, 60% of insurance biz to be with listed entities: Official
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The sector as a whole has been growing at a pace significantly higher than that of the overall economy, says dditional Secretary in the Finance Ministry Amit Agarwal
Ujjivan SFB likely to elevate Carol Furtado as interim MD, CEO next week
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Troubled with huge NPAs and top-level exits, Ujjivan Small Finance Bank is expected to elevate its head of operations Carol Furtado as an interim chief early next week
Bank of Maharashtra waives loan processing fees under special offer
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State-owned Bank of Maharashtra (BoM) has announced a slew of offers, including concessional interest rates and a 100 per cent waiver on processing fees on retail loans.
The bank under 'Retail Bonanza-Monsoon Dhamaka' waived the processing fee for its gold,
Ujjivan SFB shares tumble nearly 19% as MD, CEO Nitin Chugh resigns
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Shares of Ujjivan Small Finance Bank on Friday tumbled nearly 19 per cent after the announcement that its Managing Director and Chief Executive Officer Nitin Chugh has resigned from the bank.
The stock tumbled 18.76 per cent to close at Rs 19.70 on the BSE.
NPCI global arm ties up with Mashreq Bank for UPI payments in UAE
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NPCI's global arm NPCI International Payments Ltd (NIPL) has partnered with UAE-based Mashreq Bank to provide its mobile-based real-time payment system UPI in the gulf nation
India's forex reserves decline $2.10 billion to $619.365 billion
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India's foreign exchange reserves decreased by USD 2.099 billion to stand at USD 619.365 billion for the week ended August 13 due to a fall in core currency assets and gold, RBI data showed on Friday.
The forex kitty had increased by USD 889 million to a lif
MPC minutes: Economy struggling to regain momentum of H2FY21, says Das
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The need of the hour is twofold: first, continue the monetary policy support to the economy; and second, remain watchful of any durable inflationary pressures, says RBI Governor
