Central Bank to expand scope of cases referred to OC beyond those under S4A
The lender’s provisions for bad loans fell 17.5 per cent y-o-y to Rs 4,484 crore
Kotak sold 18 million shares in the bank for Rs 1,687 crore, bringing down his ownership of the bank to 29.79 per cent.
The finance ministry has set some conditions before public sector lenders with not-so-strong finances, like reducing NPAs, and shutting down not-profitable branches for capital infusion
Finance Minister Arun Jaitley said earlier this month that the government was moving towards changing the "status quo"on the issue of non-performing assets or NPAs.
The Bureau is responsible for selection of heads of public sector banks, and for wholetime directors and non-executive chairman on the boards of PSBs.
Reportedly, the Flokibot malware has already affected the PoS infrastructure in Brazil, with some incidents also being spotted in the US, Paraguay, Australia, and Argentina.
‘Margins to be under pressure in near term on higher credit cost after merger’
The state-owned bank had in contrast registered standalone net profit of Rs 1,263.81 crore in the fourth quarter of the previous fiscal, 2015-16.
The bank's annual loss for 2016-17 widened to Rs 5,158 crore as against Rs 3,665 crore in the previous fiscal.
The RBI had constituted an internal working group before coming out with the draft guidelines, which were put in public domain for comments in October last year.
Briefing reporters about the meeting, Economic Affairs Secretary Shaktikanta Das said the meeting is important in view of the growing economic relations between India and African countries.
According to Haldea, there was a fall in mobilisation by state level undertakings (SLUs), down by 14 per cent to Rs. 20,489 crore compared to Rs. 23,848 crore in the previous year.
The bank had reported a whopping standalone loss of Rs 5,361.70 crore in the January-March period of the preceding fiscal, 2015-16, due to a higher provisioning for bad loans.
Provisions and contingencies came down to Rs 1,927 crore from Rs 2,287 crore in the same quarter year ago.
There are over 2.2 lakh ATMs in India, of which many old ones run on Windows XP.
Salaried women borrowers will get home loans at 8.35 per cent and others at 8.40 per cent, ICICI Bank said.
The CFO will also formulate the accounting policy of the bank, maintain the internal accounts and report financial results, and carry out corporate strategy functions like PF policies.
There are a total of 2.2 lakh ATMs in India, of which few may be running on old Windows XP.
Earlier in the day, the country's largest private sector lender, ICICI Bank reduced interest rates by up to 0.3 per cent for home loans up to Rs 30 lakh in its bid to boost affordable housing.
Retail inflation rose 2.99 per cent, as against a market estimate of 3.3 per cent, in April on a convergence of local and global factors which included arrival of the winter crops in the market and drop in oil prices.
‘Mergers among strong banks while shrinking balance sheet of weak banks planned’
The selected expert will also help the panel in devising a Standard Operating Procedure (SOP) for movement of currency.
Reforms in life, general insurance were also talked about: Panel member
The bank officially reported a gross NPA figure at Rs 750 crore as against the RBI’s assessment of Rs 4,925.7 crore for the fiscal ended March 2016.
SBI has already taken the board’s approval for raising up to Rs 15,000 crore through various means in the current fiscal.
The RBI has released revised PCA norms last month stipulating that if a bank reached the level of “risk threshold 3”, it could end up as a candidate for amalgamation, reconstruction or even be wound up.
In the first half of the financial year, the cash earnings of major four banks rose by an average of 6.2 percent to a combined A$15.6 billion ($11.53 billion) on flat revenue, according to a KPMG report
A woman borrower can get loan at 8.35%; male salaried borrower at 8.40%
Given the slow pace of currency printing and indications from govt sources, it is unlikely that there will be full replacement of banned notes
There was a sharp jump in March, likely due to last-minute tax collections and payment rush towards various income tax-saving instruments.
It was provided in the schemes run by the EPFO that the body can make payments to its subscribers through various modes like money order, cheques or electronically.
For male borrowers, the limited period offer is valid till July 31 and the reduction is 20 bps to 8.40 per cent, SBI Managing Director for national banking, Rajnish Kumar, said in a concall.
"The Act clearly says four percent is the target and the two to six percent band has been given only to absorb temporary or one-time shocks."
Sovereign operations in 2015, including official and technical assistance co-financing, totaled USD 13.81 billion.
Care Ratings said a bulk of NPAs has been caused by the top 50 defaulters and it is these accounts where resolutions are needed at the earliest.