Bank

Red flags relevant but why silence in our case, ask govt bank officers

Two former CEOs of public sector banks who are now facing charges filed by the CBI. IT is not often that a Union Cabinet minister goes public to criticise the “investigative adventurism” of the CBI which is under his government’s watch. On Friday, Jaitley wrote in his blog: “Sitting thousands of kilometers away when I read the list of potential ... Read More »

Yes Bank picks Deutsche India’s Ravneet Gill as Rana Kapoor successor

Yes Bank has received RBI’s approval to appoint Ravneet Gill as the MD CEO. (Image: Facebook) Private sector lender Yes Bank Thursday named Ravneet Singh Gill, currently heading Deutsche Bank India, as the managing director and chief executive to succeed Rana Kapoor, whose term ends on January 31. The Reserve Bank had last September asked Rana Kapoor, who is one ... Read More »

Forget privatisation, govt has hugged its banks tighter

The government in its rescue mission has increased its hold on banks in direct contrast to what it had promised in 2014. Photo: Bloomberg A stitch in time saves nine. The government has, over the years, received advice from numerous quarters to reduce its stake in public sector banks (PSU banks) to below 51%, so that these lenders have sufficient ... Read More »

SBI to raise at least $1 billion via overseas bonds

Mumbai: The country’s largest lender State Bank of IndiaNSE 0.50 % (SBI) is raising at least $1 billion by selling bonds to overseas investors in what is the largest such sale from the country since January 2018. The state owned lender is issuing the bonds in two tranches, one a three year and another a five year as its seeks to shore up funds ... Read More »

Government To Infuse 10,086 Crore Rupees Into Bank Of India

The Central government has decided to infuse Rs. 10,086 crore into Bank of India. The bank informed the BSE in a regulatory filing on Saturday that the capital infusion in its equity will be done by way of preferential allotment. According to the filing, the bank’s board will consider “by way of circular resolution on or after January 2, 2019 ... Read More »

These Banks Pay Up To 9.55% Interest On Fixed Deposits Below Rupees 1 Crore

tate Bank of India (SBI), offers 6.8 per cent interest for a tenure of one year to less than two years. Small finance banks (SFBs) are niche banks which aim to extend financial services to under-banked customers. Since these banks are new, they offer higher interest rates than mainstream banks because they want to attract more customers. They also offer ... Read More »

Bank of India posts ₹1,156 crore loss in Q2 on surging NPAs

Bank of India (BoI) on Monday reported losses of ₹1,156.25 crore for the September quarter as bad loans continued to mount and provisions soared. The bank was expecting to recover ₹1,800 crore from the NCLT (National Company Law Tribunal) accounts this quarter, but the resolution process was delayed. The bank had reported profit of ₹179.07 crore in the year-ago period. ... Read More »

Why bank stocks are rallying despite dismal Q1 results

The large losses in the March quarter were seen as the final sweep towards a clean balance sheet. Graphic: Mint Banking stocks have been on the rise in the past one month with those of public sector banks gaining the most. Indeed, in some cases, investors have been more gung-ho about a recovery in banks than the bank managements. Look ... Read More »

Bank of Baroda to sell Essar Steel debt to Hong Kong’s SC Lowy

Bank of Baroda had reported gross NPAs of ₹ 56,480 crore as on 31 March 2018 compared to ₹ 42,719 crore a year ago. Photo: Pradeep Gaur/Mint Mumbai: State-owned Bank of Baroda is in the process of selling its domestic loan exposure in Essar Steel Ltd worth ₹ 1,200 crore to Hong Kong-based loan and bond trading firm SC Lowy, two ... Read More »

Home Ministry flags Chinese bank eyeing second branch in India

ICBC and Bank of China had applied for a branch licence with the RBI last year. (Photo: Reuters) At a time when the Centre has cleared the decks for the maiden Bank of China branch in India, the Ministry of Home Affairs is learnt to have raised objections to a proposal by the Industrial and Commercial Bank of China (ICBC) ... Read More »