Page 36 - Banking Sector

ED attached assets more than money due to banks: Mehul Choksi's lawyer

Vijay Mallya, Nirav Modi, and Mehul Choksi had allegedly defrauded various PSBs by siphoning off the funds through their companies, resulting in a total loss of Rs. 22,585.83 crore to the banks.

SBI may need to raise only up to Rs 9,000 crore in capital in FY22

State Bank of India is the country's largest bank

'Money is being thrown' at them but millennials don't want to be bankers

For those who want to stay in finance, non-bank financial institutions, growth equity firms and other, smaller financial-services businesses have become better options.

NARCL pegs its funding requirement at Rs 6,000 crore: Details here

The capital funding structure would follow a debt and equity ratio of 1:1, according to the proposal

A new structure of financial regulation

One of the most egregious recent cases of misconduct is the behaviour of credit-rating agencies.

Concealing material fact can lead to rejection

When truthful answers are not given, it constitutes a breach of good faith, entitling the insurer to treat the policy as void

State-owned UCO Bank looks to raise up to Rs 500 crore

The board of directors will consider the proposal for raising tier-II capital of up to Rs 500 crore at its meeting scheduled to be held on June 23

Cyber fraud helpline brings banks and police together: Here's how it works

The helpline and its reporting platform have been made operational by the Indian Cyber Crime Coordination Centre (14C) with support from the RBI, all major banks, payment banks, wallets

Microfinance loan book grows 10% sequentially to Rs 2.53 trillion in Q4

Banks continue to dominate the market share of 42 per cent.

SBI to sell two NPA accounts next month to recover dues of Rs 60 cr

SBI has invited bids for two NPA accounts with outstanding dues of nearly Rs 60 crore. "In terms of the bank's policy on sale of financial assets, in line with the regulatory guidelines, we place these accounts for sale to ARCs/ banks/ NBFCs/ FIs, on the terms and conditions indicated there against," SBI said in a sale notice. The bank has put up for sale the accounts of N S Engineering Projects, with loan outstanding of Rs 36.98 crore, and Chinteshwar Steels Pvt Ltd, which owes Rs 22.72 crore to SBI. The reserve price for these non-performing assets (NPAs) for the purpose of sale has been fixed at Rs 17.19 crore and Rs 10.50 crore, respectively. The e-auction for these two accounts will take place on July 7, 2021. The interested asset reconstruction companies (ARCs)/ banks/ non-banking financial companies (NBFCs) / financial institutions (FIs) can conduct due diligence of these assets with immediate effect, after submitting expression of interest and executing a non-disclosure ..

HDFC Bank says working with RBI for restarting banned services

In December 2020, the RBI took the unprecedented step of stopping the largest private sector lender from selling any new credit cards and also launching new digital services

CBI books Ruchi Global, its directors for Rs 188 crore bank fraud

The CBI has filed an FIR against Ruchi Global Limited and its directors for allegedly cheating a consortium of banks led by Bank of Baroda to the tune of Rs 188.35 crore, officials said on Wednesday. The agency carried out searches at the premises of the accused at six locations in Indore, Mumbai and Bangalore, they said. The agency has booked Ruchi Global Limited and its directors Umesh Shahra, Saket Barodia and Ashutosh Mishra in the case pertaining to the alleged fraud between January 1, 2016 and December 31, 2017. It is alleged that the accused fraudulently indulged in diversion of funds, speculation transactions, non-routing of sale proceeds in consortium bank accounts, transactions with related parties/sister concerns, etc., the CBI spokesperson said in a statement. The company was doing business with related entities having a common address with directors being employees of the accused company, Bank of Baroda alleged in its complaint, which is now part of the CBI FIR. It is

Total haircut of 95.85% to all the creditors in Videocon resolution plan

VIL shares have been rising on the exchanges for the past few days after the announcement of Anil Agarwal's resolution plan.

Canara Bank to be lead sponsor of bad bank, to pick up 12% stake

Bad bank refers to a financial institution that takes over bad assets of lenders and undertakes resolution.

BoB to offer flexible working model to employees; focus on mobile banking

This is aimed at striking a work-life balance and productivity enhancement in the long run.

Indian Overseas Bank fourth quarter profit rises over 2-folds to Rs 350 cr

The bank had posted a net profit of Rs 143.79 crore in the same period a year ago.

Bank of India allots shares to govt for Rs 3,000 crore capital infusion

State-owned Bank of India on Friday said it has allotted preference shares to the government for Rs 3,000 crore capital infusion. The bank has allotted 42,11,70,854 fresh equity shares of Rs 10 each to the government (promoter) at Rs 71.23 per share, amounting to Rs 3,000 crore through preference issue, Bank of India said in a regulatory filing. Shares of the bank closed 0.37 per cent up at Rs 80.45 apiece on BSE.

'Not an expert': SC declines to pass order on loan moratorium amid Covid

The top court said the courts are not experts in financial matters

Global bank regulators plot toughest capital regulation for bitcoin

Bitcoin and other cryptocurrencies are currently worth around $1.6 trillion globally

SBI-controlled RRBs see four-fold jump in net profit at Rs 1,004 cr in FY21

As a planned strategy to diversify the portfolio, RRBs expanded their housing loans by 20.35 per cent, while gold loans grew 91.73 per cent