IndusInd Bank-Bharat Financial merger to be effective from July 4

In accordance with the scheme, Bharat Financial shareholders will get 639 shares of the bank for every 1,000 held.

from Banking/Finance-Industry-Economic Times http://bit.ly/2L2dmuE

RBI slaps Rs 10 lakh fine on South Indian Bank

The penalty follows references from a government department and a private party alleging non-payment of invoked bank guarantees by the lender.

from Banking/Finance-Industry-Economic Times http://bit.ly/31M6Cr5

PNB's recovery of bad loans doubled to Rs 20,000 cr in FY19

The bank suffered losses allegedly after jewellers Nirav Modi, Mehul Choksi and some bank employees collided to defraud PNB of about Rs 1,000 crore.

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

Haircuts for operational creditors in line with that for financial creditors

In absolute terms though, the loss to the financial creditors has been significantly higher compared to the operational creditors.

from Banking/Finance-Industry-Economic Times http://bit.ly/2ISiHC9

Rain-hit ICC World Cup matches to cost insurers Rs 180 crore

The claims are for losses to television broadcasters who have already paid ICC for broadcast rights and have now lost on advertising revenue.

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

YES Bank's road ahead: Will investors say yes to Gill’s plans?

Kapoor has said Yes to Gill, for now. What about investors?

from Banking/Finance-Industry-Economic Times http://bit.ly/2Kp6M27

ED likely to probe IL&FS Financial Services dealings after SFIO charge sheet

New probe likely to target six erstwhile co directors; agency questions Deloitte India CEO again.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Iohyn0

RBI fines HDFC Bank Rs 1 crore for violation of KYC norms

The fine pertains to submission of forged bill of entries (BoEs) by certain importers to HDFC Bank for remittance of foreign currency

from Banking/Finance-Industry-Economic Times http://bit.ly/31ygQLk

Government begins groundwork for capital infusion in regional rural banks

The Reserve Bank of India has also been approached for amortising their liabilities over a time period.

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

View: Budget must outline more banking reforms

But what needs to be done quickly is to vest ownership of all banks in a single holding company, assign BBB as its board and leave it to appoint the PSB boards.

from Banking/Finance-Industry-Economic Times http://bit.ly/2IPkE2r

Bharti AXA General premium income surges 29% to Rs 2,285 cr in FY19

The company also achieved 22 per cent growth in retail business to Rs 1,392 crore in FY19 from Rs 1,138 crore in FY18.

from Banking/Finance-Industry-Economic Times http://bit.ly/2WNCO9N

Reliance Capital to probe PwC’s allegations of fraud

Law firm Crawford Bayley & Co likely to be appointed for ‘end use review’ of funds transferred between two group entities.

from Banking/Finance-Industry-Economic Times http://bit.ly/2FeK74k

Lender trio looks to exit SARE, salvage Rs 1,000-crore exposure

KKR India Financial, Altico Capital and Edelweiss are in talks with potential investors.

from Banking/Finance-Industry-Economic Times http://bit.ly/2MTJN0W