SBI profit falls below expectations, Kumar invokes the gods

June quarter profit at Rs 2,312 cr; increase in fresh slippages spooks market; stock falls 2.8%.

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Punjab & Sind Bank declares NPA account Fairdeal Supplies as fraud

The bank is in the process of filing of a complaint or FIR with the Central Bureau of Investigation, it said.

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RBI updates fit and proper criteria for PSU bank directors

Candidates for the post of board members in public sector banks should also not be a member of the board of any rival banks, said RBI.

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RBI bans NBFCs from charging loan foreclosure penalties

Foreclosure charges are part of the fee income for any lender and adds to its bottomline.

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Karnataka Bank ties up with fintech firm to offer MFs

With the tie-up, the bank plans to amplify its reach, and enhance user experience through a digital proposition.

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RBI imposes fine of Rs 11 crore on seven public sector banks

The RBI in a separate notice also declared a Rs.1 crore fine on Corporation Bank for a cybersecurity related noncompliance.

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India to infuse Rs 10,000 crore in housing finance companies

National Housing Bank is making available a liquidity infusion facility of Rs 10,000 crore for housing finance companies as additional liquidity from today.

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SBI, Shanghai becomes first Indian bank to link up with China National Advance Payment System

After being a member of the CNAPS, SBI Shanghai can also offer real time transfer of local funds within China by routing them through the PBOC.

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Tamil Nadu bank under lens over farm loans to CCD staff

The loans, which have been obtained in the name of farmers, were reportedly diverted to different companies run by Siddhartha, I-T sources said.

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Fintech funding drops to $300m in H1 2019

Last year, the sector saw deals worth more than $1.8 billion against $2.4 billion in 2017.

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Lens on Mack Star dealings: Evergreening allegation against HDIL and Yes Bank

“We have filed a complaint with RBI. We are not in a position to comment on the matter,” said Sumit Saha, authorised representative of Ocean Deity.

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

In another notification, the RBI said 'Jana Small Finance Bank Limited' too has been included in the Second Schedule.

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PNB plans aggressive recoveries to contain gross NPA below 12%

In FY19, the bank's recoveries stood at Rs 20,000 crore, which included Rs 2,100 crore through an one-time settlement scheme.

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