HDFC Bank to add 100 branches in Northeast

HDFC Bank started operations in the Northeast in 2004. As of December 31, 2018 the bank network in the region comprised 126 branches and 203 ATMs.

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Vijaya Bank, Dena Bank to become BoB from Apr 1

The branches of Vijaya Bank and Dena Bank will function as BoB outlets from Monday onwards.

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Branches of Vijaya, Dena Bank to function as BoB outlets from Monday: RBI

The merger of Vijaya Bank and Dena Bank with Bank of Baroda, will be effective from April 1, 2019.

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SBI Caps to hunt for new investors for Jet Airways

Former SBI chairman AK Purwar would take charge as chairman of the interim board as promoter Naresh Goyal has relinquished his position following lenders’ demand.

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SBI plans to bring more high net worth customers into its fold

SBI has opened wealth management service in 44 major centres so far with a network of 121 wealth hubs.

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Debtors need to honour contracts, says chief economic advisor

The debt contract in itself has moral essence with the equity holder and the businessman keeps all the goods and repays the obligations to the banks.

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NCLAT seeks details of IL&FS dues

It said whatsoever step is taken by the board and the government for resolution of IL&FS would have to be passed by the appellate tribunal.

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Infosys to buy ABN AMRO's mortgage service unit

These deals will expand Infosys’ business in key growth regions of Japan and South East Asia as well as in the banking space in continental Europe.

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HDFC Bank opposes SBI's plea to liquidate 6.6 million USL shares

The special PMLA (Prevention of Money Laundering Act) court did not take up the petition and fixed April 2 for the next date of hearing.

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Five PSU lenders get capital infusion of Rs 21,428 crore from government

With this allotment, the government holding has increased from 89.39 per cent to 92.52 per cent in the bank

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RBI eases office opening process for foreign entities

This will make office opening process simple under FEMA Act as the country is looking to go up the ladder in the ease of doing business.

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Lenders ask for fresh round of bidding for Amtek Auto at NCLAT

NCLAT listed the matter for next hearing on April 22 and said "CoC would not approve any other plan" in between.

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Banks' consumer durable loan business shrinks 75%

The volume of banking sector's consumer durable loan pie has shrunk 75% year on year.

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Supreme Court refuses to stay merger of Vijaya, Dena banks with BOB

The top court dismissed the applications filed by several bank officers' associations for staying the merger, effective April 1.

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PFC completes REC acquisition, hopeful of merger in 2019-20

The transaction assumed significance because it helped the government meet its disinvestment target of Rs 80,000 crore for the current financial year.

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Banks report better non-performing loan ratio: Fitch

Lower fresh slippages and better recoveries helped reduce absolute non-performing loans across several banks.

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Manappuram Finance withdraws release on securing funding from NABARD

The release titled 'Manappuram Finance secures Rs 695 crore debt funding from NABARD' is being "retracted with immediate effect.

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Ex-PNB CEO aproaches NCLAT in Nirav Modi fraud case

The two-member NCLAT, headed by Justice S.J. Mukhopadhaya, issued a notice to the Ministry of the Corporate Affairs on her plea.

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UN Security Council panel finds Cosmos Bank cyber attack motivated by N Korea

Its report comes nearly seven months after the malware attack on the bank.

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Kotak Bank says RBI can't rule on shareholding

Adds that Sec 12 & 12-B form a complete code on shareholding & voting rights in a bank and thus circumscribe powers of RBI.

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NCLT admits Bank of India’s insolvency plea against Shrenuj & Co

The National Company Law Tribunal (NCLT) admitted an insolvency petition filed by Bank of India against the company for defaulting on Rs 226 crore of loans.

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How bad loan mess is hurting lesser-rated borrowers as well as banks

Banks that got burnt in the recent bad loans bonfire are shutting doors on a big chunk of lesser-rated, needy borrowers.

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Adventurous business practices can hurt companies: New India Assurance CMD Atul Sahai

"Growth in motor is possibly at the lowest level of 0.4%. It is going to take another six-seven months before motor insurance sales will stabilise."

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SC takes strong note of non-disclosure of banks' inspection reports by RBI

A bench comprising justices L N Rao and M R Shah said it may initiate contempt proceedings against the Reserve Bank Of India (RBI) for not disclosing the annual inspection report of various banks under the transparency law.

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Bank branches dealing with government business to remain open this Sunday: RBI

"The Government of India has advised that all Pay and Account Offices will remain open on March 31, 2019 (Sunday) to facilitate government receipt and payment transactions," RBI said in a circular.

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Delhi court summons 11 top PNB officials for violation of banking regulations

The RBI claimed that the case came to light during systems inspection at the PNB's Brady House Branch in Mumbai.

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Uco Bank gets Rs 14,000 crore windfall from Iran oil payment right

Two people familiar with the matter pegged the size of the floating fund at Rs 13000-14000 crore.

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Power Finance Corporation to pay entire Rs 14,500 crore for REC acquisition on Thursday

The deal would help the government meet its disinvestment target of Rs 80,000 crore for the current financial year ending on March 31.

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RBI slaps Rs 2 crore penalty on PNB for violating SWIFT norms

The massive Rs 14,000-crore fraud perpetrated by billionaire jeweller Nirav Modi and his uncle Mehul Choksi at the PNB was a case of misuse of this messsaging software

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Will take all steps to protect domestic interests: Injeti Srinivas

Injeti Srinivas said the law would initially only give jurisdictional access on the basis of reciprocity and that the reform would give foreign investors greater confidence.

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Actis may sell holding in Super-Max

Founder-fund spat may halve value of British private equity firm’s 8-year-old investment.

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Grasim challenges Rs 5,872 crore income-tax demand before HC, gets stay from recovery

The company has company has contended before the High Court that order was "wholly unsustainable in law" and the Income Tax department has sought time to file reply, Grasim Industries said in a BSE filing.

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Government moves NCLT seeking immunity for IL&FS board members

A two-member NCLT bench of VP Singh and Ravikumar Duraisamy scheduled both the matters for detailed hearing on April 12.

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SBI may ask senior retired banker to helm Jet Airways

SBI has not yet agreed to acquire Etihad’s stake but is working on a plan to take over the control of the airline.

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Interviews for top post of NHB and IIFCL on Monday

The interview panel comprises Financial Services Secretary, Department of Personnel and Training Secretary and some external members.

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Working class employees left in the lurch at IL&FS resolution

About half of the petitions filed in NCLAT, are by the employee funds, super annuation funds, gratutity funds and Provident Funds.

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Karnataka Bank reports Rs 13 cr fraud to RBI

The fraud was on account of "diversion of funds", the lender said in a BSE filing.

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India postpones accounting rules, sparing banks bad-loan piles

RBI said that legislative amendments needed to implement the new Indian Accounting Standards are still under consideration by the government.

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HC gives relief to Grasim industries of Aditya Birla in the dividend tax case

The revenue department had raised the demand on Aditya Birla Capital (ABCL) shares that Grasim received after the demerger of Aditya Birla Capital from Aditya Birla Nuvo.

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Kotak to begin deploying money from two dedicated funds

The advisory arm of Kotak group has mopped up over $1 billion through the two funds as the company looks to invest in assets.

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Accident-prone teens drive up mortality rates

Not surprisingly, even in the younger age-band, teenagers seem more prone to accidents.

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Indian Bank – carrying "Your Own Bank" tag with utmost pride!

Amidst the current challenging period for the banking sector in India, there is a Public Sector Bank that has outshined its peers. It is the Chennai-headquar...

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Lenders bank on personal loans to grow retail books

“Personal loan books have never grown to levels as it is now… It’s kind of a record book-size currently,” says Ramadasu Bandaru, AGM, CARE Ratings.

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NBFCs back in business of hiring

Companies may hire about 15,000 in FY20, indicating return of stability to the sector.

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NBFCs borrow more from banks on liquidity crunch

Credit to NBFCs up 48% year-on-year till January; Highest growth in any loan segment reported by banks.

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MeitY is pushing everyone to accept common mobility cards

Government wants banks to deploy contactless payments-enabled point-of-sales terminals.

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Bank lending finds a big boost in shadow banks

This is the highest growth in any loan segment reported by banks, while credit to manufacturing fell 0.7%, according to Reserve Bank of India data.

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RBI says no to IDBI Bank name change proposal

The board of IDBI Bank had last month sought RBI's approval for change in the name of the lender to either LIC IDBI Bank or LIC Bank following the takeover by LIC.

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Rating IDBI Bank as private is against public interest: AIBEA

In a letter to the RBI on Wednesday, AIBEA's General Secretary C.H. Venkatachalam conveyed the union's opposition to RBI's decision.

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Regulating payments: One too many voices

That’s what finance secretary Subhash Chandra Garg has in store for the industry.

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