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Bank of India, IOB report NPA divergences; losses widen for FY19
Business | November 17, 2019 15:08 IST
State-owned Bank of India and Indian Overseas Bank have reported divergences in their bad loans for the fiscal ended March 2019, resulting into the widening of net losses for the year. Chennai-headquartered Indian Overseas Bank has reported a net non-performing asset (NPA) divergence of Rs 358 crore for 2018-19, due to which the divergence in provisioning came in at Rs 2,208 crore, according to a regulatory filing by the bank.
Ayodhya judgment: Ram Naam Bank announces 'bonus' for account holders
India | November 17, 2019 11:05 IST
The Allahabad-based 'bank', which neither has ATMs, nor cheque books and its only 'currency' is Lord Ram, has announced the bonus for nearly one lakh of its account holders.
Two bank staff booked for swindling money from dead customer's account
November 16, 2019 11:20 IST
When Sheikh Mohideen and Chinnadurai found that no one had come forward to claim the money deposited in theaccount of Emisola, after she died a few years ago, the duo renewed the account by forging her signature and created an ATM card, which was used to draw the money, police said.
SBI, PNB, IDBI set for recovery from bankrupt Essar Steel
Business | November 15, 2019 14:13 IST
The issue saw a keen fight among banks and separately between the financial institutions and Essar Steel's operational creditors who alleged that ArcelorMittal's winning bid did not meet their dues. ArcelorMittal already won the bid for Essar Steel, having got the NCLT approval for its Rs 42,000 crore bid.
Google Pay users will soon be able to check their bank accounts
Business | November 14, 2019 7:59 IST
After Apple and Facebook, Google is all set to take a plunge into the financial world, with a bank near you. A Wall Street Journal report on Wednesday said the search engine giant aims to partner with banks to offer to check accounts within Google Pay app to consumers.
BBB recommends names for heading 3 state-owned banks
Business | November 13, 2019 15:41 IST
The Banks Board Bureau (BBB) has recommended names of Sanjiv Chadha, L V Prabhakar and Atanu Kumar Das for the post of managing director and chief executive officer (MD & CEO) of three state-owned lenders -- Bank of Baroda, Canara Bank and Bank of India
Bengal woman raises bank loan, sells gold ornaments to feed street dogs
India | November 12, 2019 19:01 IST
She spends about Rs 40,000 a month on the pariah dogs and sold her gold ornaments worth about Rs 2 lakh to bear the cost of taking care of the abandoned canines.
Bank of Baroda shares jump over 5 per cent on higher Q2 earnings
Business | November 11, 2019 12:59 IST
State-owned Bank of Baroda on Friday reported a jump of 73.2 per cent in its net profit to Rs 736.68 crore in the second quarter ended September 30.
No levying of charges on NEFT payment from January: RBI to banks
Business | November 08, 2019 17:36 IST
Come January 2020, and customers may not have to pay any charges for transactions done through the popular NEFT system.
Six robbers who targeted bank in Mumbai arrested
November 08, 2019 6:27 IST
With the help of their local counterparts, the Mumbai police arrested four more gang members - Manukumar Prasad (20), Ravikumar Prasad (21), Sandeepkumar Prasad (23) and Amitkumar Singh (24), the official said.
UPI payment fraud: HDFC Bank alerts customers of banking fraud; shares do's and don'ts
Business | November 06, 2019 9:43 IST
UPI Fraud Alert! As the number of transactions on the Unified Payments Interface (UPI) platform is expanding, the number of fraud cases is also growing. UPI has eased making fund transfers for customers even without using a debit card or credit cards. Keeping in mind the increasing number of UPI payment fraud, HDFC has issued alert that fraudsters are stealing money from users’ bank accounts via UPI.
CBI searches 169 places in bank frauds worth Rs 7,000 cr
India | November 05, 2019 12:26 IST
The official said the agency has registered around 35 cases related to bank frauds involving Rs 7,000 crore. The official, however, did not reveal the names of the banks or the accused involved in the case.
Over 3,400 branches of 26 PSBs closed or merged in last 5 years: RTI
Business | November 03, 2019 20:08 IST
Over 3,400 branches of 26 public sector banks (PSBs) have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query.
Bank Holidays Alert! Banks to remain closed on these days in November 2019; Check full list here
Business | November 11, 2019 10:45 IST
Bank holidays in November: Banks will remain closed in the month of November on public holidays. All public and private banks will remain closed for as many as 7 days in the month, on account of Guru Nanak Jayanti and other public holidays. Besides this, banks are also shut on the second and fourth Saturdays.
Lakshmi Vilas Bank's non-independent director resigns
Business | November 02, 2019 15:29 IST
A statement issued by Lakshmi Vilas Bank on Friday said: "Anuradha Pradeep (Non-Executive and Non-Independent Director) has resigned from the directorship of the bank on November 01, 2019."
RBI revamps departments for effective supervision, regulation of banking sector
Business | November 01, 2019 19:19 IST
The Indian banking sector has witnessed a series of scams, including about Rs 14,000 crore fraud in Punjab National Bank and the recent PMC Bank crisis that affected lakhs of depositors. Besides, several large NBFCs have failed on their commitments to service their debt.
Bank of India post Rs 266 crore profit in Q2
Business | November 01, 2019 14:43 IST
During the quarter ended September 30, 2019, Bank has redeemed Tier II Bonds aggregating to Rs 1,000 crore by exercising call option.
IBPS PO Prelims Result 2019 declared: Check score at ibps.in
Exam Results | November 01, 2019 19:46 IST
IBPS PO Prelims Result 2019 has been declared. The Institute of Banking Personnel Selection announced the results of IBPS PO Prelims Result (CRP PO/MT-IX ) 2019 today at the official website -- ibps.in.
Close to 70 senior bankers in fray for Laxmi Vilas Bank's top-post
Business | October 28, 2019 11:28 IST
The recruitment process, which is currently underway, will get over by November 10 and the new management will take charge by the first week of December if the Reserve Bank approval comes in.
Banking services hit in Tamil Nadu due to bank strike
India | October 23, 2019 11:34 IST
AIBEA general secretary C H Venkatachalam said employees took out processions, rallies and held demonstrations and protested government's decision across various cities and towns. "Because of the strike, normal banking services were affected. Clearing of cheques were affected as cheques could not be collected by banks and sent for clearances," he said.