Ex-Deutsche Bank veteran takes on 'bad boy' of Indian banking

The change of guard at Yes Bank brings the curtain down on one of the more colorful chapters in Indian finance.

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Government to create globally competitive large lenders via mergers: FM Arun Jaitley

FM Jaitley said the government lived up to its promise of continuing to fund banks in terms of capital.

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Canara Bank loan for Bank of India, Union Bank employees

Regulations do not allow banks to offer loans to their own employees for purchasing shares under ESPS.

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Now, a policy to protect bank locker

The policy offers a cover against risks including fire, earthquake, burglary, holdup or any act of terrorism.

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Fraud-hit PNB ranks highest in implementation of 'reforms agenda' in 2018: Study

PNB has shown "strong performance" in the parameters like customer responsiveness, responsible banking, credit off-take and financial inclusion.

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Govt keen on amalgamation of PSBs to create globally competitive, healthy large banks: Arun Jaitley

Finance minister Arun Jaitley said the NPA situation of PSU banks has improved in the last 2-3 quarters.

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IL&FS sees management collusion, fraud in IFIN’s bad loans

This is after discovering large-scale irregularities, which includes ever-greening of loans and funds being routed to entities that are ineligible to borrow.

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PNB cuts MCLR rates by 10 bps from March 1

There is a reduction in the marginal cost of funds based lending rate (MCLR) with effect from March 1, 2019, PNB said in a regulatory filing.

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SBI has found fraud worth Rs 7,951.3 crore in Apr-Dec: RTI reply

In an RTI reply, SBI said it has found fraud worth Rs 7,951.29 crore in first nine months of this fiscal year.

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In deposit war, private sector banks win hands down

Private sector banks rates were 8 to 10 basis points lower to public sector banks between January and April 2017 and have since turned the other way.

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Will take steps to curb frivolous bids for IL&FS assets: Injeti Srinivas, Corporate affairs secretary

Srinivas also said New Delhi would soon take steps to discourage people from making frivolous bids and then backing out.

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Merger of regional rural banks within same state likely

At present, the Centre holds 50% stake in RRBs, while 35% and 15% are with the sponsor banks and state governments, respectively.

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Syndicate Bank to bring down NPA in the current year

The bank chairman and CEO Mrutyunjay Mahapatra said the bank has made a profit in the third quarter after loss in the previous quarters of FY 19.

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True North buys 51% stake in Max Bupa from Max India for Rs 510.51 crore

The stake has been sold either directly or through its affiliates, the company said.

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RBI to soon put into circulation Rs 100 bank notes in new series

The RBI will shortly issue Rs 100 denomination bank notes in Mahatma Gandhi (new) series bearing the signature of Das, the central bank said in a release.

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Kotak Mahindra Bank raises foreign investment limit

The hike in the shareholding limit comes as the private-sector lender grapples with a central bank directive on reducing its Chief Executive Uday Kotak's stake in the bank.

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RBI proposes variable pay for top officials of private, foreign banks

As per the extant guidelines, the variable pay is capped at 70 per cent of fixed pay but did not include ESOPs.

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View: The intruder that undermines India's central bank

Already India has lost two RBI governors because, among other things, they dared to ask banks to acknowledge problem loans in time.

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RBI suggests major changes to top bank executives' pay structure

Banks are required to put in place appropriate modalities to incorporate malus/ clawback mechanism in respect of variable pay.

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IL&FS lenders to save Rs 10k crore in Q4 post NCLAT breather

The resolution framework put forward by IL&FS and the government has classified group companies as ‘green’, ‘amber’ and ‘red’, based on their solvency and cash flow.

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Wooing customers: PSU banks step up to wrest away mortgages from NBFCs

BoB links its home loan rate to its one-year marginal cost of funding based lending rate (MCLR) which is currently at 8.75%.

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Don’t classify IL&FS accounts as NPAs sans nod: NCLAT

The tribunal issued the direction during a hearing on the government's plan for the resolution of IL&FS group companies.

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Relief to e-wallets: RBI extends KYC compliance norms by six months

E-wallet companies were caught in a bind over looming deadline as companies were apprehensive that they will not be able to meet the central bank's deadline.

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Trapped IL&FS employees return to India from Ethiopia

Since mid-2018, under instructions of ITNL, several of the Indian employees employed by its Project Companies had returned to India.

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Realty cash crunch is risk for struggling India shadow banks

This drying up of liquidity comes on top of years of sluggish home sales, mounting inventories and falling prices.

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IL&FS defaults: EPFO board to assess impact

Standalone PFs are estimated to have IL&FS investment in the range of Rs 15,000-20,000 crore, ET reported on January 16.

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IL&FS’ lenders may seek NPA dispensation of ‘amber’ loans

The bankers have insisted that the resolution process should be akin to the IBC process to the extent possible.

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SBI mulling insolvency route via NCLT to recover Jet Airways loan

Subsequently, appropriate interim credit facilities would be sanctioned to the airline by the lenders.

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Automation has SBI leaving 25% retirement vacancies open for tech

Banks globally are re-aligning to changing realities due to the advent of automation technology.

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Finance ministry expects 3-4 more banks to come out of RBI's PCA framework this year

Recent capital infusion will help Corporation Bank and Allahabad Bank to come out of the Prompt Corrective Action (PCA) framework.

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Government's mega merger plan for general insurance firms hits fresh roadblock

The fresh impediment has already removed the merger plan from this year's disinvestment calendar.

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REC must get consent from at least 50 per cent of lenders for PFC deal to go through

REC has appointed Barclays Bank, Citigroup Global Markets, HSBC and Standard Chartered Bank as consent solicitation agent.

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IL&FS employee welfare trust under ED lens

Former IL&FS CMD Parthasarathy, former director Sankaran named in ED ECIR.

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Bank wage talks to cover officers up to AGM rank

The updated proposal for officers means bipartite negotiation will now cover 3.76 lakh officers, which is 99.27% of total officers in public sector banks.

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Banks' consortium considering Rs 500 cr interim funding to Jet Airways, says PNB chief

PNB is part of the lenders' consortium, led by State Bank of India (SBI), that has extended loans to the airline.

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Renewed US sanctions on Iran revive fortunes of an Indian bank

The Kolkata-based bank expects its privileged status to add more than Rs 800 crore ($110 million) to annual earnings,

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Some banks may make token rate cuts

Das, however, argued that India needs softer rates to push growth.

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Reserve Bank of India seeks info from NBFCs on moratorium given to borrowers

There are more than 11,000 NBFCs of which 218 are systemically important, having total assets of Rs 25 lakh crore.

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CBI issues look out circulars against Kochhars, Dhoot in corruption case

Enforcement Directorate is extending investigation to possible forex rules violations.

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Will banks respond to RBI's call for lower rates?

RBI Governor Shaktikanta Das held a meeting with country’s top bankers on Thursday and nudged them to reduce the financing cost to encourage investment.

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Srei Equipment Finance to co-lend with Syndicate Bank

Under the arrangement, Syndicate Bank would leverage on its low-cost funds and co-lend equipment loans with Srei Equipment at a mutually agreed rate, a company statement said on Thursday.

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Strapped promoters in talks to cash out of Dewan Housing Finance

Holding company Wadhawan Global Capital has initiated talks with more than a dozen financial and strategic investors in India and abroad to sell a controlling stake.

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Merger of Vijaya Bank and Dena Bank with BoB to be effective from April 1

As per the Scheme of Amalgamation, shareholders of Vijaya Bank will get 402 equity shares of BoB for every 1,000 shares held.

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IL&FS probe: ED registers money laundering case, raids underway in Mumbai, Gurgaon

The ED’s case follows the predicate offence registered with Delhi Police. The Delhi EOW is also probing the cash-strapped IL&FS.

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Jet Airways bailout puts focus on India banks' debt-to-equity losses

SBI isn’t alone: competitors including ICICI Bank Ltd., Bank of Baroda and Axis Bank Ltd. saw the market value of their equity holdings drop last year.

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Reserve Bank of India may lift prompt corrective action curbs on Dena, Central & Allahabad banks

The govt is expected to provide another Rs 12,500 crore of capital in the current quarter to banks that have capital ratios below the mandatory level.

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Top banks under taxman’s lens over service tax issue

At the heart of the matter is the lack of clarity on the tax liability on the annual fees that banks pay multinationals.

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Irdai issues norms for standardized health insurance product

While the minimum entry age is kept at 18 years for principal insured, the maximum age at entry is 65 along with lifelong renewability. There shall be no maximum exit age.

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Soon banks will take back hefty payouts from errant CEOs

The RBI is working on a set of rules that would link banks CEOs' remuneration to parameters like balance sheet size of a bank, loan delinquency and profits.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GwHvRF

Homebuyers as financial creditors: Developers' default risks spike

Last August, Parliament had passed an amendment to the Insolvency and Bankruptcy Code (IBC) allowing home-buyers to be treated as financial creditors.

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