Rai alleges communication breakdown between Banks Board Bureau and govt     Mon, 19 Mar 2018 22:58:00 +0530

Rai said the BBB was not aware of progress made on reforms as "there has been no further engagement with the government"

NPCI asks banks to reject UPI transactions from non-compliant apps     Mon, 19 Mar 2018 21:54:00 +0530

Circular makes it mandatory for all UPI apps to support transmission of money through VPA, generate QR codes for Bharat QR or UPI QR

CBI charge sheet against ex-Canara Bank CMD in Rs 680-mn loan default case     Mon, 19 Mar 2018 19:10:00 +0530

The agency has alleged that Guptas knew Dubey and used the connection in getting loans

Nirav Modi indirectly challenging PMLA case via his firm: ED to Delhi HC     Mon, 19 Mar 2018 18:03:00 +0530

The company's plea was misconceived and premature, the ED said, adding it was presently at the stage of search and seizure as well as retention of records

Axis Bank customers with balance of Rs 100 mn and above to get 6% interest     Mon, 19 Mar 2018 17:04:00 +0530

New rate will be effective March 19

Rs 129-billion scam fallout: RBI to resolve impasse over PNB liabilities     Mon, 19 Mar 2018 07:00:00 +0530

Finance ministry officials said the central government was not authorised to examine loan accounts above Rs 50 million and hence could not resolve the disputes among banks

Corruption at regulator? Irdai member aided, abetted graft, says SAT     Sun, 18 Mar 2018 07:15:00 +0530

The tribunal has directed Irdai to entrust the matter to an officer other than Joseph for passing a fresh order

PNB scam fallout: Here's why banks must relook at indemnity policies     Sun, 18 Mar 2018 07:05:00 +0530

Given the reluctance to part with data and tendency to minimise the risks, those in the segment say banks need to seriously relook at whether they're covered for a PNB-type case

Low operating expense, high yields to help NBFCs' grow their rural books     Sat, 17 Mar 2018 23:40:00 +0530

Bajaj Finance Limited increased their urban outlet network by 40.3% to 529 stores at the end of December 2017

Rs 91-million Chandri Paper fraud reported to CBI on February 13, says PNB     Sat, 17 Mar 2018 18:46:00 +0530

Fraud had already been declared in respect of the fradulent and unauthorised issuance of two LoUs for Rs 91 million

Farmers protest: Banks give crores to Nirav Modi, what about us? updates     Sat, 17 Mar 2018 16:51:00 +0530

Nirav Modi had acquired land of the farmers by conning them

Issued bank guarantees of Rs 1.55 bn to NSIC against 100% margin: UBI     Sat, 17 Mar 2018 15:14:00 +0530

NSIC sought confirmation for further BGs amounting to Rs 180 million which, according to UBI, are non-existent in its records

PNB scam: Bank to focus on internal audits, recovery, small depositors     Sat, 17 Mar 2018 14:11:00 +0530

Bank outlines multi-pronged strategy to strengthen internal controls in its EGM held on Friday

RBI needs to work with govt to take action against PSBs, says Rangarajan     Sat, 17 Mar 2018 06:53:00 +0530

RBI's action in banning of Letters of Undertaking (LoUs) could be reviewed later, says former RBI head C Rangarajan

PNB scam: SFIO probing 107 firms and 7 limited liability partnerships     Sat, 17 Mar 2018 05:57:00 +0530

The government ordered the investigation on February 17, 2018, says PP Chaudhary

Fraud-hit PNB faces dilemma over revealing price-sensitive information     Sat, 17 Mar 2018 05:55:00 +0530

On February 11, the bank said it had detected "fraudulent and unauthorised transactions" worth $1.78 billion

Bankruptcy Code: Finance professionals on a roll as NCLT cases surge     Sat, 17 Mar 2018 01:42:00 +0530

With 600-700 new NPA cases getting admitted into NCLT every month, demand for Resolution Professionals is on the rise; their number has more than doubled in less than a year

25% overseas branches of public sector banks reported losses in FY17     Sat, 17 Mar 2018 01:16:00 +0530

The Union government said on Friday that one-fourth of all foreign branches of public sector banks reported losses last financial year."As per data reported by PSBs, 159 branches of PSBs are operating in foreign countries, of which41 branches were in loss in the financial year 2016-17," Minister of State Finance Ministry Shiv Pratap Shukla informed the Lok Sabha on Friday.The Rs 129 billion scam reported in Punjab National Bank has put the scanner on foreign branches of PSBs as fraudulent transactions through thousands of letters of undertaking allegedly took place between domestic and overseas branches over last seven years in the Nirav Modi and Mehul Choksi case.Most number of foreign branches that reported losses belonged to State Bank of India (nine), followed by Bank of India (eight), Bank of Baroda (seven), Indian Overseas Bank (five) and Canara Bank (four).All the branches of PSBs in Bahama (two - one each by SBI and Bank of Baroda), Cambodia, Vietnam and ChannelIslands (all ...

Nirav Modi fraud: PNB to honour bonafide LoU; increase its focus on CASA     Fri, 16 Mar 2018 23:19:00 +0530

PNB reassured its shareholders, customers, partners and employees on the bank's capability and capacity to come out of this situation

1,700 card, net banking-related frauds worth Rs 714.8 mn reported in 2017     Fri, 16 Mar 2018 21:21:00 +0530

In December 2017 alone, 187 cases with losses touching Rs 337.3 million was reported, K J Alphons said

Banks' NPA steadily rising, reached Rs 7.77 mn till Dec 2017: MoS Finance     Fri, 16 Mar 2018 21:13:00 +0530

MoS for Finance Shiv Pratap Shukla said gross non-performing assets under the 'Industry-Large' category for all banks soared to Rs 5.27 trn as on Dec 2017 from Rs 1.23 trn on March 31, 2015

Andhra Bank takes large NPA hit from iron & steel and infra sectors     Fri, 16 Mar 2018 18:58:00 +0530

BS ReporterHyderabad, 16 March: Iron and Steel and infrastructure sectors contributed to almost 50 percent of Andhra Bank's gross non-performing assets (NPAs) as the bank continues to witness more slippages during the current financial year. A fresh Rs 58.35 billion were added to the gross NPAs during the first three quarters of the year while the bank was able to reduce the existing NPAs worth of Rs 19.05 billion during the same period. As a result the total gross NPAs rose to Rs 215.99 billion from Rs 176.7 billion at the beginning of the financial year, taking the ratio to an all time high of 14.26 percent.Most of the bank's exposure to Iron and Steel industry resulted in to NPAs. As much as Rs 51.18 billion outstanding loan went bad out of the total exposure of Rs 78 billion. With Rs 41.73 billion in NPAs, infrastructure sector came close second even though this sector has had the largest size of write-offs at Rs 3.63 billion followed by textiles-cotton sector with Rs 1.53 ...

PNB fraud: There can't be parallel inquiry by courts, Centre tells SC     Fri, 16 Mar 2018 18:16:00 +0530

The attorney general contended that why such petitions should be entertained by the courts unless there was something wrong shown by petitioner

GIC-RE eyes global footprint with entry into Lloyd's trading in April     Fri, 16 Mar 2018 17:02:00 +0530

SAARC region's largest re-insurer names seasoned Lloyd's market practitioner as Active Underwriter; targets 60:40 domestic to international biz ratio

Money laundering: ED files another case in alleged Rs 1.73-bn fraud at UBI     Fri, 16 Mar 2018 10:10:00 +0530

The case has been registered under the Prevention of Money Laundering Act

ICICI Securities IPO: Public holidays may cost ICICI Bank Rs 3 bn in taxes     Fri, 16 Mar 2018 07:00:00 +0530

The IPO proceeds of Rs 40 billion are capital gains the private lender would be booking by divesting around 24 per cent stake in the investment banking arm

PSBs plan tighter lending norms for corporate loans above Rs 2.5 billion     Fri, 16 Mar 2018 07:00:00 +0530

Public sector banks have decided to improve their risk-management systems

RBI governor Urjit Patel's statements 'unbecoming', say officials     Fri, 16 Mar 2018 05:50:00 +0530

RBI had more power over private sector banks than over PSBs and a level playing field should be created in regulating PSBs, the Governor had said

PNB detects Rs 91 mn-fraud at Mumbai branch where Nirav Modi scam unfolded     Fri, 16 Mar 2018 02:15:00 +0530

The new alleged fraud of around Rs 91 million involves officials of a little known company called Chandri Paper and Allied Products Pvt Ltd

Nirav Modi fraud: Public sector banks expect PNB to honour LoUs     Fri, 16 Mar 2018 00:17:00 +0530

They were all issued by PNB and against that we have made payment, SBI's Deputy Managing Director said

HDFC Bank raises Rs 23 billion through issuance of rupee-denominated bonds     Thu, 15 Mar 2018 23:27:00 +0530

The issue carries a fixed coupon rate of 8.10% per annum with maturity on March 22, 2025

Scandals to bailouts fail to dent analysts' faith in emerging-market banks     Thu, 15 Mar 2018 22:59:00 +0530

Strategists from Renaissance Capital to Newton Asset Management say emerging markets are so heterogeneous that idiosyncratic risks don't alter the big picture

Banks to adopt risk management system in 6 months to stop PNB-like fraud     Thu, 15 Mar 2018 21:06:00 +0530

Banks will be putting up their action plan to respective boards and in 3 to 6 months action plan would be implemented by banks

Blame game over PNB fraud would take us nowhere, says Venkaiah Naidu     Thu, 15 Mar 2018 20:27:00 +0530

The issue is not 'this regime or that regime', the issue is that of people losing confidence in the banking system, Naidu said

Merger with associate banks led to higher account closure this year: SBI     Thu, 15 Mar 2018 19:38:00 +0530

SBI on March 13 had substantially reduced charges for non-maintenance of average monthly balance (AMB) in savings accounts, which would benefit 250 million bank customers