PNB, Bank of India top posts: Bank Board Bureau invites application

New Delhi: The Banks Board Bureau (BBB) has invited applications for the post of Managing Director and Chief Executive Officer (MD and CEO) in two major public sector banks, Punjab National Bank and Bank of India. The post of MD and CEO in PNB will fall vacant after incumbent Sunil Mehta superannuates on 30 September. The post in Bank of India ... Read More »

Latest Fixed deposit (FD) rates: SBI vs ICICI Bank vs HDFC Bank vs Axis Bank vs Kotak Mahindra Bank

Are you looking to invest your money somewhere? Usually your parents or elders would advise you to invest in fixed deposits (FDs) as it is considered as the safest means of investment. FD accounts can be opened in a post office or bank. All major banks, including State Bank of India (SBI), ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra ... Read More »

RBI ups cap on bank credit to NBFCs

In a bid to boost credit to the needy segment of borrowers, the RBI on Tuesday said bank credit to non-banking financial companies (NBFCs) for on-lending to the agriculture, micro and small enterprises (MSE) and housing categories under priority sector lending (PSL) will be allowed up to a limit of 5 per cent of the individual bank’s total PSL on ... Read More »

Bank holidays: Three-day closure this week in some cities

NEW DELHI: All commercial banks in India will remain closed for 2-3 days this week due to bank holidays. According to the Reserve Bank of India (RBI) holiday calendar, banks were closed today on account of Bakri Id or Id-ul-Zuha. Again on Thursday, banks will be shut on account of Independence Day and Rakshabandhan festival. In most cities, banks will be open ... Read More »

BoI, Syndicate Bank, Allahabad Bank cut lending rates by up to 25 basis points

More banks in the public sector came forward to announce cuts in their lending rates days after RBI cut repo rate by 35 basis points. This time, the banks to make the announcements are Bank of India, Syndicate Bank and Allahabad Bank. While BoI and Syndicate Bank have cut their marginal cost of fund-based lending rates or MCLRs by 25 basis points, ... Read More »

BoI, Syndicate Bank, Allahabad Bank cut MCLRs by up to 25 basis points

Syndicate Bank reduced MCLRs by 25 bps across all tenures, effective August 12. State-owned lenders Bank of India, Syndicate Bank and Allahabad Bank on Friday reduced their marginal cost of funds-based lending rates (MCLRs), days after a 35 basis-point (bps) cut in the repo rate by the Reserve Bank of India (RBI) at its August policy. The one-year MCLR at ... Read More »

RBI allows Bank of China to offer regular banking services in India

Mumbai: The Reserve Bank of India (RBI) on Thursday allowed Bank of China to offer regular banking services in the country. All commercial banks, like SBI, HDFC Bank, Punjab National Bank and ICICI Bank, are in the Second Schedule. Banks falling under this schedule have to adhere to the norms of the RBI. “We advise that the ‘Bank of China Limited’ ... Read More »

Aditya Birla Payments Bank shuts operations 18 months after launch

Aditya Birla Payments Bank, a venture between Idea Cellular and Aditya Birla Nuvo, has shut down its operations. The payments bank that was only 18-month old has asked its customers to transfer their balances before July 26. “We will be restricting any further credits (add money) to your account from July 26, 2019,” the payments bank informed its customers in ... Read More »

SBI MD Anshula Kant appointed World Bank CFO and MD

Anshula Kant, managing director of the State Bank of India, has been appointed as managing director and chief financial officer of the World Bank, its president David Malpass announced on Friday. As Managing Director and Chief Financial Officer, Kant will be responsible for financial and risk management of the World Bank Group, reporting to the President. “I am very pleased ... Read More »

Indian Bank posts net loss of Rs 190 cr in Q4 FY19

TOPICS Quarterly Results quarterly or semiannual financial statement Indian Bank State-owned Indian Bank reported a net loss of Rs 189.77 crore in the fourth quarter of the financial year ended March 2019, as high level of bad loans required substantial amount to be kept as provisioning parking. The bank had registered a net profit of Rs 131.98 crore during the similar January-March ... Read More »