Bank
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RBI gives nod for Kerala Bank
Business | Oct 10, 2019, 01:18 PM ISTAccording to government sources, 13 DCBs would be merged with the Kerala State Co-operative Bank for forming the proposed Kerala Bank.
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PMC bank scam: ED seizes 12 high-end cars of HDIL owners
India | Oct 04, 2019, 10:26 PM ISTThe Enforcement Directorate (ED) has seized 12 high-end cars which include two Rolls Royce, two Range Rover and one Bentley, of Housing Development and Infrastructure Limited (HDIL) chairman Rakesh Wadhawan and his son Sarang Wadhawan on Friday following raids at six locations in Mumbai.
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PMC Bank crisis: Former MD Joy Thomas arrested; ED conducts raids
India | Oct 04, 2019, 08:20 PM ISTFormer managing director of Punjab and Maharashtra Cooperative Bank, Joy Thomas, was arrested on Friday by the Economic Offences Wing of Mumbai Police in connection with the alleged Rs 4,355 crore scam at the bank .
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PMC Bank crisis: HDIL CEO, MD had properties worth Rs 3,500 crore
India | Oct 03, 2019, 11:27 PM ISTThe Chairman and Managing Director of real estate developer HDIL were arrested on Thursday in connection with the Rs 6,500 crore loan default case that has hit the Punjab and Maharashtra Co-operative (PMC) Bank. Rakesh Kumar Wadhawan, the Chairman, and Sarang Wadhawan, Managing Director of HDIL were arrested by the Economic Offences Wing (EOW) of the Mumbai Police. Assets worth Rs 3,500 crore of HDIL were also frozen.
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RBI increases withdrawal limit for PMC depositors to Rs 25,000
Business | Oct 03, 2019, 08:54 PM ISTThe Reserve Bank of India has enhanced withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank.
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PMC crisis: ICAI seeks information from RBI to check role of auditors
India | Oct 02, 2019, 03:46 PM ISTChartered accountants' apex body ICAI has sought information from the RBI and other authorities on the PMC Bank crisis to check whether any auditor was involved in the alleged financial irregularities at the lender.
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Bank Holidays Alert! Banks to remain closed on these days in October
Business | Oct 01, 2019, 08:22 AM ISTBank Holidays In October 2019: Banks to remain closed on the occasion of Diwali, Dussehra, and other festivals or national event in the month of October. Notably, the central government holidays are applicable to all public and private sector banks.
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What happens to your savings if your bank fails
Fyi | Sep 26, 2019, 05:38 PM ISTAfter the unexpected decision of The Reserve Bank of India to put Punjab and Maharashtra Cooperative Bank (PMC Bank) under scrutiny and strict directions for six months, the depositors of the bank are into a huge snag. But, the question is- how much safe is our money when it comes to cooperative banks these days? What will happen to depositors’ money if a bank suddenly fails or shuts down? Read on.
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Customers file police complaint against PMC Bank's officials
Business | Sep 26, 2019, 01:23 PM ISTA delegation of account-holders went to Sion police station in central Mumbai and submitted the complaint against officials of the bank, on which the RBI has imposed operational restrictions, he said.
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No concern to asset quality post UBI, OBC merger: PNB CEO
Business | Sep 22, 2019, 12:56 PM IST"Everything relating to the merger is going on smoothly. We don't foresee any challenges. Other banks have done it successfully and we can repeat that,said Sunil Mehta, the Managing Director and CEO of PNB.
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14 banks struggle to recover Rs 3,635 cr from Mumbai firm
Business | Sep 20, 2019, 06:54 PM ISTA consortium of 14 public sector banks, led by the Bank of India on Friday initiated the process to recover staggering loans totally worth Rs 3,635.25 crore from a Mumbai-based defaulter, Frost International Ltd.
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Bank strike: SBI says operations likely to be affected
Business | Sep 18, 2019, 09:47 PM ISTPublic Sector Bank Strike: If you are planning to carry out any important bank-related work on September 26 and 27, then you might have to do it before or post it as banking operations in key public sector banks are likely to be hit due to proposed strike of bank unions.
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Six of 10 most valued companies add Rs 50,580 crore in m-cap; SBI, ICICI Bank lead
Business | Sep 15, 2019, 11:45 AM ISTWhile RIL, HDFC Bank, HDFC and Kotak Mahindra Bank were the other winners, Tata Consultancy Services Ltd (TCS), HUL, Infosys and ITC suffered losses in their market capitalisation (m-cap) for the week ended Friday.
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Gujarat bank defamation case: Rahul Gandhi seeks documents
India | Sep 08, 2019, 12:32 PM ISTThe court issued notice to the bank, seeking its stand by October 11 on on Gandhi's demand for documents.
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Mega bank mergers in India credit positive but...: Here is global rating agency Moody's take
Business | Sep 05, 2019, 03:51 PM ISTThe mega merger of 10 state-run banks is credit positive, as it can increase their operational scale and growth capital, apart from improving their corporate governance over the long term, says a report.
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Bank merger: PNB board approves amalgamation with OBC, United Bank
Business | Sep 05, 2019, 02:29 PM ISTThe board meeting held on Thursday followed the finance ministry asking the three banks to consider the proposal of amalgamation, PNB said in a regulatory filing.
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Bank merger: Officers associations to meet in Delhi on September 5
Business | Sep 03, 2019, 03:14 PM ISTFinance Minister Nirmala Sitharaman last week announced the merger of Oriental Bank of Commerce and United Bank with Punjab National Bank, Syndicate Bank with Canara Bank, while Andhra Bank and Corporation Bank will merge with Union Bank of India.
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PSU banks lose on BSE post merger announcement
Business | Sep 03, 2019, 12:25 PM ISTState-run banks on the exchanges traded on a weak note during the early trade on Tuesday after the government announced plans to merge 10 public sector banks into four.
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Will bank mergers result in job losses? Nirmala Sitharaman rules it out
Business | Sep 01, 2019, 08:47 PM IST"Absolutely, ill informed. I want to assure every union in everyone of these banks to please recall what I have said last Friday. When we spoke about amalgamation of banks I have very clearly underlined the fact that there shall not be one employee removed. Not at all", she told reporters here.
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All India Bank Employees Association opposes government's bank merger
Business | Aug 31, 2019, 04:21 PM ISTOpposing the merger of 10 public sector banks into four, C. H. Venkatachalam, General Secretary of AIBEA, in a statement issued here said in the name of banking reforms the government is enabling banks to help corporates.