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Posted Date : 28-Feb-2016 , 08:51:43 pm | Posted By CASANSAAR
Prime Minister Narendra Modi has approved the proposal of the Department of Financial Services (DFS), Ministry of Finance for the constitution of the Banks Board Bureau. The Bureau, which was announced in the last Budget by Finance Minister Arun Jaitley, will be headed by former Comptroller and...
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Posted Date : 23-Feb-2016 , 10:05:49 pm | Posted By CASANSAAR
State-owned Punjab National Bank (PNB) has declared a list of about 900 wilful defaulters including Winsome Diamonds & Jewellery, Zoom Developers and Nafed, which owe close to Rs 11,000 crore to the lender. The bank recently declared beleaguered Kingfisher Airlines and its guarantors UB Hol...
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Posted Date : 08-Feb-2016 , 09:42:11 pm | Posted By CASANSAAR
A whopping Rs 1.14 lakh crore of bad loans have been written off by 27 public sector banks (PSBs) during FY 2012-15, with the last fiscal alone witnessing a steep 53% rise in write-offs as part of the balance sheet clean-up. For the fiscal ended March 2015, public sector banks have writ...
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Posted Date : 29-Jan-2016 , 10:13:23 pm | Posted By CASANSAAR
Japan's central bank shocked markets today with plans to effectively charge lenders to park their cash with it, ramping up a long-running battle to kickstart the world's number three economy. The unprecedented decision to adopt a below-zero interest rate policy is the Bank of Japan's ...
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Posted Date : 17-Dec-2015 , 08:03:39 am | Posted By CASANSAAR
The Supreme Court has held that RBI should take rigid action against those banks and financial institutions which have been indulging in disreputable business practices. A bench comprising Justices MY Eqbal and C Nagappan said, the central bank cannot withhold information on defaulters and other iss...
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Posted Date : 15-Dec-2015 , 08:21:15 am | Posted By CASANSAAR
Dismissing rumours on the social media, the RBI on Monday said all notes including those with scribbling will continue to be legal. "As I understand, one of the topics trending on Whatsapp is the statement that at the end of the year notes with writing will not be accepted. This ...
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Posted Date : 12-Dec-2015 , 08:58:24 am | Posted By CASANSAAR
Reserve Bank of India (RBI) guidelines are already in place on refinancing existing infrastructure and other project loans. As per extant guidelines, banks are allowed to refinance such loans by way of take-out financing, even without a pre-determined agreement with other Banks/Financial Institution...
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Posted Date : 24-Nov-2015 , 08:29:36 am | Posted By CASANSAAR
Finance Minister Arun Jaitley today said, the government has proactively taken measures to remove problems in stressed sectors and expressed the hope that the bad loans situation in the banking sector will improve for the better . Speaking to media after Quarterly Review Meeting of public sector ban...
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Posted Date : 22-Nov-2015 , 10:39:18 pm | Posted By CASANSAAR
The Finance Minister Arun Jaitley will Monday meet chief executives of public sector banks (PSBs) to review banks' performance during the second quarter this fiscal besides other thrust areas like credit flow and priority sector lending. This meeting - - probably for the first time--would s...
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Posted Date : 05-Nov-2015 , 08:10:53 am | Posted By CASANSAAR
Following is the Summary of the Recommendations of the Bankruptcy Law Reforms Committee (BLRC) The Report of the BLRC is in two parts: Rationale and Design/Recommendations; A comprehensive draft Insolvency and Bankruptcy Bill covering all entities. The draft Bill ...
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Posted Date : 04-Nov-2015 , 08:23:18 am | Posted By CASANSAAR
The Finance Ministry has appointed chief executives in four public sector banks (PSBs) — Andhra Bank, Indian Bank, Corporation Bank, and UCO Bank. Earlier in mid-August, private sector bankers were appointed to head five PSBs — Bank of Baroda, Bank of India, Punjab National Bank, Ca...
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Posted Date : 13-Oct-2015 , 09:03:02 am | Posted By CASANSAAR
Indian banks' capital requirement would cross the Rs 5 lakh-crore mark while meeting the global Basel III banking norms by March 2019, a study report said on Monday. "Given the credit growth expected in the short-to-medium term, the capital requirement of Indian banks would cross a huge ...
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Posted Date : 11-Oct-2015 , 09:13:54 pm | Posted By CASANSAAR
In the wake of recent heists from two ATMs here, the district administration today directed bank officials to appoint security guards at their ATMs otherwise branch manager will be held responsible in eventuality of any thefts in the future. District Magistrate K K Yadav said, "Under s...
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Posted Date : 17-Sep-2015 , 08:04:48 am | Posted By CASANSAAR
Seeking to promote financial inclusion, the RBI has granted approval to 10 entities, in principle, to set up small finance banks to provide basic banking services to small farmers and micro industries. The approval granted yesterday includes Ujjivan Financial Services and Equitas Holdings. ...
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Posted Date : 12-Sep-2015 , 07:27:25 am | Posted By CASANSAAR
State-run Canara Bank today said Rakesh Sharma has assumed charge as its Managing Director and Chief Executive Officer. Before joining Canara Bank, Sharma was MD and CEO of Lakshmi Vilas Bank since March 7, 2014. Sharma’s s parental bank was State Bank of India wherein he had raised to t...
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Posted Date : 31-Aug-2015 , 08:45:32 am | Posted By CASANSAAR
We are so used to hearing about the distressed nature of India's public sector banks, which were just given (yet another) brand new government plan to revive them, we often forget about the performance of the biggest one: the Reserve Bank of India. After all, RBI too is a bank with paid-up capit...
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Posted Date : 23-Aug-2015 , 06:59:19 pm | Posted By CASANSAAR
Bandhan Bank on Sunday began operations as a full-fledged bank with 501 branches and 1.43 crore accounts across the country, becoming the newest member of the estimated USD two-trillion Indian banking industry. Bandhan said it is starting operations with 1.43 crore accounts, around Rs.10,500 cr...
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Posted Date : 21-Aug-2015 , 08:15:39 am | Posted By CASANSAAR
Bringing cheers to lakhs of bank employees, the government has accepted the long-pending demand of workers to declare second and fourth Saturdays holidays, with effect from September 1. "The notification regarding Saturday off has come. It is effective from September 1," All India...
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Posted Date : 21-Aug-2015 , 08:08:10 am | Posted By CASANSAAR
Chiefs of all public sector banks, other than five large ones, will come from within the talent pool of state-owned lenders, according to the new selection guidelines issued by the government on Thursday. The selection process will start next month, the Finance Ministry said in a statement. Ac...
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Posted Date : 14-Aug-2015 , 09:23:21 pm | Posted By CASANSAAR
The Government decided to separate the post of Chairman and Managing Director by prescribing that in the subsequent vacancies to be filled up the CEO will get the designation of MD & CEO and there would be another person who would be appointed as non-Executive Chairman of PSBs. This approa...
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Posted Date : 06-Aug-2015 , 10:21:49 pm | Posted By CASANSAAR
The Lok Sabha today passed a bill that will allow filing a case of cheque bounce at the place it is presented for clearance and not the place of issue. The amendments in the Negotiable Instruments Act will have implications for over 18 lakh cheque bounce cases pending in various courts, Minister ...
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Posted Date : 01-Aug-2015 , 08:55:35 am | Posted By CASANSAAR
In a setback to State Bank of India (SBI), the Hong Kong Central Bank imposed a $1 million (HK$7.5 million) penalty for breaching the Hong Kong anti money-laundering and counter terrorism financing rules. The fine, imposed on SBI’s Hong Kong branch, is a first for the Hong Kong Monetary Aut...
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Posted Date : 22-Jul-2015 , 08:06:56 am | Posted By CASANSAAR
The government has extended interest subvention scheme to public sector banks, private sector commercial banks, rural regional banks, cooperative banks and NABARD to ensure availability of crop loans of up to 3 lakh rupees to farmers at seven per cent per annum. The sources said, the decision to con...
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Posted Date : 17-Jul-2015 , 08:14:52 am | Posted By CASANSAAR
State Bank of India (SBI) has put 66 loan accounts, with loans worth Rs.4,400 crore, for sale to asset reconstruction companies (ARCs) in July, a senior official at the bank confirmed. According to the official, who spoke on condition of anonymity, most of these accounts are small and medium...
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Posted Date : 06-Jul-2015 , 07:58:31 am | Posted By CASANSAAR
With questions being raised about a USD one-billion debt market investment of Deutsche Bank and others, financial regulators RBI and Sebi are having a fresh look at the case to ensure compliance to their norms. Besides, they are also reviewing their regulations for greater clarity in ...
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Posted Date : 18-Jun-2015 , 07:23:29 am | Posted By CASANSAAR
Bandhan Financial Services Pvt. Ltd will start full-fledged commercial banking operations on 23 August. Kolkata-based Bandhan got the final Reserve Bank of India (RBI) approval to start commercial banking operations on Wednesday. So far, it had “in principle” approva...
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Posted Date : 05-Jun-2015 , 08:31:37 am | Posted By CASANSAAR
The government is set to overhaul annual targets for public sector lenders this month, ending a focus on size that has long encouraged banks to inflate their loans and deposits at the year-end to hit growth objectives. Banking and government sources said the new targets, to be discuss...
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Posted Date : 30-Apr-2015 , 08:30:22 am | Posted By CASANSAAR
Small public sector banks, with assets of less than ₹2-lakh crore, should be readied for merger with five large PSBs, a Finance Ministry-appointed panel has recommended. PSBs with less than ₹2 lakh crore assets (loans plus investments) include Andhra Bank, Bank of Maharashtra, Dena ...
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Posted Date : 30-Apr-2015 , 08:12:57 am | Posted By CASANSAAR
Three public sector banks -- Bank of Maharashtra, Dena Bank and Oriental Bank of Commerce -- have been imposed with a monetary penalty of Rs 1.5 crore each by the Reserve Bank of India (RBI) for violation of know your customer (KYC) and anti money laundering (AML) norms. Dna...
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Posted Date : 29-Apr-2015 , 11:35:26 am | Posted By CASANSAAR
The Rajya Sabha yesterday passed the Regional Rural Banks ( Amendment) Bill, 2014. The bill seeks to raise the authorised capital of Regional Rural Banks from five crore to 2,000 crore rupees and enable them to mop up funds from the capital market. Replying to a debate on the bill in the House, Mini...
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