Bank

Bank of Baroda is said to be probed in South Africa over Guptas

Bank of Baroda, which is the only lender in South Africa still offering services to companies linked to the Guptas, is seeking a court order that will allow it to close the accounts. Photo: Mint Johannesburg: India’s Bank of Baroda is being investigated by South Africa’s central bank over money held for companies controlled by the politically connected Gupta family, according ... Read More »

AU Small Finance Bank to partner Aditya Birla Health Insurance

AU SMALL FINANCE BANK:   Au Small Finance Bank will sell health insurance products of Aditya Birla Health Insurance as part of a corporate agency tie-up agreement. “The bank (Au Small Finance Bank) has entered into agreement with Aditya Birla Health Insurance Company Ltd (ABHICL) to act as a corporate agent for health insurance business,” the bank said in a regulatory ... Read More »

Current account and a coffee? It’s the bank with a barista

A bank with a barista: the newly refurbished Lloyds branch in Market Street, Manchester. Photograph: Jon Super/UNP It looks like a US tech giant’s office, complete with its own coffee shop, chic “breakout pods”, the latest biometric technology and an events programme. But it’s actually a new Lloyds Bank branch in Manchester. Welcome to the new world of the bank ... Read More »

Govt to unveil bank consolidation plan soon: Arun Jaitley

Finance minister Arun Jaitley said early days of goods and services tax (GST) going smoother than expected. Photo: Mint Mumbai: Finance minister Arun Jaitley said on Friday that the government is working on a strategy for the consolidation of the banking industry to create bigger and stronger banks. “The consolidation of banks will have to move parallel to the objective of ... Read More »

Bank of Japan holds policy steady

Japan’s central bank opted to hold interest rates steady on Thursday as a new board member dissented in favour of further monetary easing. The Bank of Japan said overnight interest rates will remain steady at 0.1 per cent, that 10-year bond yields will be capped at around zero percent and central bank will continue to buy assets at around ¥80tn ... Read More »

Bank of India board mulls merger plan

Dinabandhu Mohapatra, MD and CEO, Bank of India – Photo: Debasish Bhaduri BusinessLineDinabandhu Mohapatra, MD and CEO, Bank of India The bank is in the process of strengthening its systems and processes before exploring merger possibilities, says MD KOLKATA, SEPTEMBER 16:   The board of Bank of India is examining the possibility of merger with other banks, based on the kind ... Read More »

UK interest rates stay steady at record low of 0.25%

A Bank of England’s monetary policy committee voted 7-2 in favour of holding interest rates steady. Photograph: Alicia Canter for the Guardian The Bank of England left interest rates on hold at their record low of 0.25% amid sluggish pay growth and a squeeze on household spending, while hinting that a rise may come sooner than expected. The Bank’s monetary policy ... Read More »

What is a domestic systemically important bank

Last week, the Reserve Bank of India (RBI) declared HDFC Bank Ltd to be a domestic systemically important bank (D-SIB). The other two such banks are State Bank of India (SBI) and ICICI Bank Ltd. What is it? D-SIB means that the bank is too big to fail. According to the RBI, some banks become systemically important due to their ... Read More »

RBI’s Viral Acharya calls for adequate of PSU bank recapitalization

RBI deputy governor Viral Acharya. Photo: Mint Mumbai: Reserve Bank of India (RBI) deputy governor Viral Acharya batted for “decisive and adequate recapitalization” of public sector banks to improve the health of these lenders, even as he expressed concern at the “glacial” pace of restoring public lenders’ health. “Given the correctly recognized scale of NPAs (non-performing assets) in the books of ... Read More »

Focus on cleaning bank books, rather than mergers: Raghuram Rajan

In an interview, former RBI Governor Raghuram Rajan elaborates on his stint and nuances of monetary policy Former RBI governor, Raghuram Rajan’s latest book, I Do What I Do: On Reform, Rhetoric and Resolve, was launched on Tuesday. Ahead of the launch he spoke to BusinessLine on a wide range of subjects from tackling the NPA mess and independence of the RBI to ... Read More »