News - (Get Professional Updates on Whatsapp, Msg on 8285393786)
  • CBI nodal agency for banks to report high value frauds
    Posted Date : 07-Aug-2016 , 01:34:45 pm | Posted By CASANSAAR

    The CBI has been made the nodal authority for banks to report high value frauds worth over Rs 50 crore in public sector banks. The move comes after Reserve Bank of India (RBI) noticed that banks do not have a focal point for filing complaints with the CBI. As a result, the investigative agency ...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 370

  • Lok Sabha clears Bill for quicker, easier debt recovery
    Posted Date : 01-Aug-2016 , 09:38:14 pm | Posted By CASANSAAR

    The Lok Sabha on Monday passed a law empowering banks to take possession of collateral in the case of loan default, except for farm land, while Finance Minister Arun Jaitley promised a compassionate view on education loans. He ruled out any waiver in the event of e...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 354

  • Bank employees on strike today against merger with SBI
    Posted Date : 29-Jul-2016 , 09:16:16 am | Posted By CASANSAAR

    Normal banking operations may take a hit today as public sector bank employees will go on strike to protest against proposed merger of associate banks with SBI and banking reforms announced by the government. The United Forum of Banks Unions, an umbrella organisation of nine bank employees and offic...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 826

  • RBI slaps Rs 27-cr penalty on 13 banks for FEMA
    Posted Date : 27-Jul-2016 , 09:50:39 pm | Posted By CASANSAAR

    In a major crackdown for FEMA violations and KYC lapses, the RBI has imposed Rs 27-crore penalty on 13 public and private sector banks, including PNB and HDFC Bank, while asking eight others including SBI and ICICI Bank to ensure strict compliance with guidelines. On the basis of inputs received ...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 684

  • RBI slaps penalty on UCO Bank, Allahabad Bank, Bank of India
    Posted Date : 26-Jul-2016 , 10:48:55 pm | Posted By CASANSAAR

    RBI has imposed penalty of Rs 2 crore each on Allahabad Bank and UCO Bank, and Rs 1 crore on Bank of India for violation of anti-money laundering norms. UCO Bank in a BSE filing said that the Reserve Bank has "imposed a penalty" of Rs 2 crore on it on account of "few lapses in adhe...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 747

  • RBI slaps penalty on BoB, HDFC Bank & PNB
    Posted Date : 26-Jul-2016 , 08:20:42 am | Posted By CASANSAAR

    The Reserve Bank of India on Monday slapped penalties ranging from ₹2 crore to ₹5 crore on Bank of Baroda, HDFC Bank, and Punjab National Bank over the issue of advance import remittances. Bank of Baroda said the RBI has imposed a penalty of ₹5 crore on it. This follows the bank...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 946

  • Cyber attack on Union Bank’s offshore accounts
    Posted Date : 23-Jul-2016 , 08:39:18 am | Posted By CASANSAAR

    Public sector Union Bank of India on Friday said one of the bank’s offshore accounts was breached in a cyber attack but the money trail was traced and movement of funds was blocked. “There was an attempted cyber incidence in USD Nostro Account of the bank. The money trail was prompt...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 684

  • HSBC may come under RBI lens for forex scam
    Posted Date : 23-Jul-2016 , 08:37:14 am | Posted By CASANSAAR

      The Reserve Bank of India may look into the latest disclosure of an alleged foreign exchange fraud committed by two British executives working for HSBC while servicing Cairn Energy. The alleged scam took place in 2010 when Cairn Energy sold its Indian subsidiary to Vedanta for $3.5 billion...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 426

  • Govt allocates Rs 22,915 cr capital to 13 PSU banks for FY17
    Posted Date : 19-Jul-2016 , 08:28:34 pm | Posted By CASANSAAR

    Government has allocated 22,915 crore rupees capital to 13 public sector banks for the current fiscal. An official release said government has undertaken an exercise to assess the capitalization needs of Public Sector Banks in line with the announcements made under the Union Budget.  The cap...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 285

  • Bank employees to go on strike on July 12-13
    Posted Date : 10-Jul-2016 , 08:43:48 pm | Posted By CASANSAAR

    Bank employees have decided to go strike, as earlier planned on July 12 and 13, since the conciliation meeting failed to yield any results. The unions have called for a strike against proposed closure of associate banks and their merger with the State Bank of India (SBI), and pro...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 579

  • Cabinet clears bill for speedy recovery of bad loans
    Posted Date : 16-Jun-2016 , 08:22:04 am | Posted By CASANSAAR

    Cabinet today approved a bill seeking to amend the debt recovery laws with an overall objective of improving the ease of doing business. "Cabinet approves ex-facto 'The Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions Bill, 2016," an official ...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 509

  • Cabinet approves merger of 5 associate banks with SBI
    Posted Date : 15-Jun-2016 , 10:55:38 pm | Posted By CASANSAAR

    The Union Cabinet on Wednesday approved the merger of five associate banks — State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State Bank of Hyderabad as well as Bharatiya Mahila Bank with State Bank of India, according to TV repor...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 771

  • Punjab National Bank releases updated list of wilful defaulters
    Posted Date : 15-Jun-2016 , 07:58:26 am | Posted By CASANSAAR

      Punjab National Bank (PNB), the nation’s second biggest state-run lender, Tuesday declared a list of 913 wilful defaulters, including Kingfisher Airlines and NAFED, with total outstanding dues of Rs 11,486 crore. PNB has added eight defaulters to its February list to take the nu...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 1002

  • SBI begins working on framework for merger of subsidiaries
    Posted Date : 13-Jun-2016 , 08:33:45 am | Posted By CASANSAAR

    The State Bank of India (SBI) has set up a crack team to prepare a framework for amalgamation of five associate banks with itself, even as the political opposition to the proposed move is gaining ground and the government approval is still awaited. “A team of 15-20 members has been set up...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 665

  • Govt for settlement bad loans, empowering PSBs: FM
    Posted Date : 06-Jun-2016 , 09:52:24 pm | Posted By CASANSAAR

    Committing to support NPA-ridden public sector banks, Finance Minister Arun Jaitley on Monday said they would be empowered and protected in case of "commercially prudent" settlement of bad debts. With provisioning for NPAs or bad debts leading to Rs 18,000 crore of accumulated net loss ...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 428

  • HC seeks Centre, RBI response on debit, credit card surcharge
    Posted Date : 18-May-2016 , 07:37:17 am | Posted By CASANSAAR

      The Delhi high court on Tuesday sought Centre and Reserve Bank of India’s (RBI) response on a plea alleging “illegal” surcharge levied on transactions done through debit and credit cards. The petition filed in public interest has contended that public sector oil mark...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 675

  • Five associate banks propose merger with parent SBI
    Posted Date : 18-May-2016 , 07:28:07 am | Posted By CASANSAAR

    After over five years of hiatus, associate banks of SBI including State Bank of Bikaner and JaipurBSE 4.22 % have proposed to merger with the parent lender.  The respective boards have proposed merger with the State Bank of IndiaBSE -0.08 % (SBI), the parent, in a meeting held today, sources...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 904

  • 701 bad loan accounts owe PSU banks Rs 1.63 lakh cr
    Posted Date : 27-Apr-2016 , 09:10:09 am | Posted By CASANSAAR

    As many as 701 accounts with bad loans exceeding Rs 100 crore owed public sector banks (PSBs) Rs 1.63 lakh crore at the end of December, with State Bank of India accounting for the biggest chunk. SBI had 85 such accounts with aggregate non-performing assets (NPAs) of Rs 23,726 crore, followed b...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 623

  • Plea in HC against surcharge on debit, credit cards payments
    Posted Date : 03-Apr-2016 , 06:04:46 pm | Posted By CASANSAAR

    A plea has been filed in the Delhi High Court against "illegal" surcharge levied on transactions done through debit and credit cards across the country while no such charge is imposed on cash payments. Advocate Amit Sahni in his public interest litigation, likely to be heard by a bench ...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 364

  • Extended Bank hours for conducting Govt. Business on 31st March, 2016
    Posted Date : 30-Mar-2016 , 10:20:50 pm | Posted By CASANSAAR

    In view of closing of the current financial year and to facilitate the tax-payers in payment of taxes, the Reserve Bank of India has issued instructions vide notification RBI/2015-16/342 dated March 17, 2016 directing all agency banks to keep the counters of their designated branches conducting gove...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 571

  • Govt, RBI taking tough action to recover bank dues: PM
    Posted Date : 29-Mar-2016 , 07:37:02 am | Posted By CASANSAAR

    Amid rising concern over default by large borrowers like liquor baron Vijay Mallya, Prime Minister Narendra Modi today stressed that the government as well as RBI is taking "tough action" to recover loans from corporate defaulters. "The only segment showing an increase in (corporat...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 391

  • HC tells IDBI staff not to go on strike from Monday
    Posted Date : 26-Mar-2016 , 08:23:42 pm | Posted By CASANSAAR

    The high court has not only restrained Industrial Development Bank of India (IDBI) staff in Karnataka from going ahead with their strike from Monday (March 28), but also told them not to disrupt bank work during the crucial March 28-31 period (end of the financial year). "Needless to say, ...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 379

  • Banks to remain closed for up to 4-days from Thursday
    Posted Date : 21-Mar-2016 , 09:26:00 pm | Posted By CASANSAAR

    Customers will not be able to conduct transactions in banks for 4 days in a row as they will be closed from Thursday in many states. However, according to officials, banks will try to ensure that ATMs remain operational during these holidays. Thursday will be a holiday for celebrating the Holi...

    Continue Reading... Category : Banking | Comments : 2 | Hits : 1019

  • Bank Consolidation: No major decision likely until late FY17
    Posted Date : 21-Mar-2016 , 08:09:27 am | Posted By CASANSAAR

    The Centre will tread cautiously on the issue of merger and consolidation of public sector banks (PSBs) as there is no clear-cut mechanism in place for human resource management. Sources involved with the process said the Finance Ministry is keen on reducing the number of PSBs to about 10 or le...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 911

  • PSU banks write off 38 accounts worth Rs 8033 Cr
    Posted Date : 18-Mar-2016 , 07:28:36 am | Posted By CASANSAAR

    Public sector banks have written off 38 accounts of Rs 100 crore and above amounting to about Rs 8,000 crore during the nine months of the current fiscal.  As against Rs 8,033 crore for 2015-16, banks had written off 47 accounts of Rs 100 crore and above totalling Rs 13,018 crore in 2014-15,...

    Continue Reading... Category : Banking | Comments : 2 | Hits : 810

  • Bangladesh Central Bank Governor resigns over $81m Cyber theft
    Posted Date : 16-Mar-2016 , 07:54:29 am | Posted By CASANSAAR

    In Bangladesh, the Reserve Bank Governor Atiur Rahman has resigned today following a $ 80 million cyber theft from the Bank's Reserve Fund Account at the Federal Reserve Bank of New York. Atiur Rahman who has been the Reserve Bank Governor for the second term resigned during a meeting with the P...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 476

  • CVC suggests e-verification of bank guarantees to check frauds
    Posted Date : 10-Mar-2016 , 07:52:39 pm | Posted By CASANSAAR

    To check fraudulent bank guarantees, the Central Vigilance Commission has suggested electronic verification of such documents directly with the concerned lending institutions. The move will help curb the menace of banking frauds. A bank guarantee acts as a proof of financial stability and credi...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 603

  • CBI books five senior officials of Syndicate Bank in alleged Rs 1,000 cr scam
    Posted Date : 08-Mar-2016 , 08:18:30 pm | Posted By CASANSAAR

    There is trouble in store for some senior officials of the state-run Syndicate Bank with the Central Bureau of Investigation (CBI) booking them on charges of fraud and cheating as part of their investigations into an alleged fraud to the tune of Rs 1,000 core. Five senior bank of...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 2232

  • PSU Banks Bad Loans Rise By Rs. 1 Lakh Crore in 9 Months of FY 16 - FM
    Posted Date : 08-Mar-2016 , 08:15:22 pm | Posted By CASANSAAR

    Bad loans of public sector banks (PSBs) have increased by nearly Rs 1 lakh crore during the first nine months of the current fiscal year, Finance Minister Arun Jaitley said on Tuesday. "The gross Non Performing Assets (NPAs) of the PSBs (PSU banks) increased from 5.43 per cent as on March 20...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 468

  • Centre considering ESOPs for bank employees: FM
    Posted Date : 06-Mar-2016 , 07:33:49 am | Posted By CASANSAAR

    State-run bank chiefs have strongly backed the idea of consolidation while the government is actively considering employee stock options (ESOPS) for bank employees, finance minister Arun Jaitley said on Saturday. Heads of state-run banks, who gathered for a two-day retreat with senior government ...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 340

Search News
News By Categories More Categories