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bank of india falls 5% as rbi puts bank under prompt correction framework




bank of india dipped 5% to rs 172 on the bse in noon trade after the state-owned bank said that the reserve bank of india (rbi) has placed the bank under prompt corrective action framework.“reserve bank of india vide their letter dated december 19, 2017, has placed the bank under prompt corrective...



rbi action to impact growth of bank of india




the bank of india (boi) stock shed five per cent after the reserve bank of india (rbi) placed the bank under the prompt corrective action (pca) list. inclusion in the pca is initiated if any bank breaches thresholds, which in case of bank of india was insufficient core equity capital, high net non-p...



psbs extend gains; indian bank, bank of india up over 3%




shares of public sector banks (psbs) were trading higher for the second straight day in a row amid softening of the yield on the 10-year gilt, following the reserve bank of india (rbi’s) open market operation announcement on friday.indian bank surged 7% to rs 344, extending its previous day’s 3....



govt appoints executive directors in pnb, 8 other psu banks




the government has approved the appointment of executive directors (eds) for nine public sector banks.bajrang singh shekhawat has been appointed executive director of central bank of india, an order issued by the department of personnel and training (dopt) read.he is at present a general manager (gm...



indian bank, ubi classify stc account as npa over non-payment of interest




indian bank and union bank of india have rendered the accounts of state trading corporation (stc) as non-performing asset because of non-payment of interest on loans. “due to non-payment of interest of rs 192.9 million on bank borrowings, indian bank and union bank of india have reported stc accou...



rate sensitive stocks trade weak post rbi policy




sbi, union bank of india, bank of baroda, punjab national bank and icici bank were down in the range 1% to 2%.



bank of india: rs 70-bn npa recovery may not move the needle much in q4




shares of bank of india, which are down a third since the fraud at punjab national bank was reported (february 14), an event that hit other public sector banks (psbs) too, surged 15 per cent before closing 7.4 per cent up on tuesday. reports of the bank recovering non-performing assets (npas) worth ...



pnb fraud: why india's banking system is flawed and how we can fix it




to the collective dismay of the public, there is one more bank scam, which, not surprisingly, involves a public sector bank (psb) — punjab national bank. nirav modi, a flamboyant jeweller, and his uncle mehul choksi (a one-time favourite of foreign institutional investors) have allegedly pulled of...



psbs gain; sbi, pnb, canara bank, bank of baroda, bank of india up 3%




shares of public sector banks (psbs) were in focus with the nifty psu bank index rallying more than 7% from its early morning lows on national stock exchange (nse).at 11:49 am; nifty psu bank index, the largest gainer among sectoral indices, was up 3% at 3,854 as compared to0.81% rise in the benchma...



fairfax india to pick up 51% stake in catholic syrian bank for rs 12 bn




canadian investor prem watsa’s fairfax’s indian arm fairfax india holdings will buy a 51 per cent stake in the kerala-based catholic syrian bank for around rs 12 billion. the deal, if it materialises, will be the first takeover of an indian bank by a foreign non-banking financial entity after th...



five psbs on brink of being put under rbi's prompt corrective action plan




five public sector banks (psbs), including canara and union bank of india, are on the brink of being put under the reserve bank of india’s (rbi’s) prompt corrective action (pca) plan. according to rating agency icra, their net non-performing assets (npas) rose above 6 per cent in december 2017. ...



world bank to raise lending to india by $1 billion for next five years




the world bank plans to raise lending to india by about $1 billion every year for the next five years from the current $3 billion to $3.5 billion, its country director to india said on wednesday. the lending will be mainly for infrastructure projects, junaid ahmad said. last november, india jumped i...



psu banks rally; nifty psu bank index up 5%




shares of public sector undertaking (psu) banks were in focus with nifty psu bank index gaining 5%, its sharpest intra-day gain during past one month on the national stock exchange (nse). at 11:13 am; nifty psu bank index, the largest sectoral index, was up 4.9% at 2,844, as compared to 0.73% rise i...



psu bank index hits 52-week high; market-cap up by rs 1.1 lakh crore




nifty psu bank index hit a 52-week high of 3,980, surging 29% in intra-day trade on the national stock exchange (nse) on strong rally in state-owned banks after the government cleared rs 2.11 lakh crore bank recapitalisation plan.the psu bank index recorded its sharpest single day gain, was trading ...



kotak mahindra bank pips state bank of india in market capitalisation




private sector lender kotak mahindra bank on monday surpassed state-run state bank of india (sbi) in terms of market capitalisation. at the start of the year, sbi’s market value was 44 per cent more than that of kotak mahindra bank. since then, shares of sbi have corrected 19 per cent, while that ...



indian bank gets sebi nod to raise capital by selling equity shares via qip




market regulator securities and exchange board of india (sebi) has approved public sector lender indian bank to raise capital by selling equity shares through a qualified institutional placement (qip), subject to approval from the government of india. the plan is to achieve the minimum public shareh...



urjit patel is right: but reserve bank of india should introspect as well




the recent scandal about fraudulent letters of undertaking (lous) has once again brought into the public eye the question of governance and regulation of public sector banks (psbs). there has been considerable criticism of the banking regulator, the reserve bank of india (rbi), for failing to put in...



markets live: sensex extends losses, nifty slips below 10,200; banks fall




sectoral trend nifty psu bank index hits 19-month low, down 7% in two days   shares of public sector undertaking (psu) banks continued to be under pressure with the nifty psu bank index hitting 19-month low as investigation deepened in the punjab national bank (pnb) fraud case.   canara bank, andh...



another nirav modi in making? rotomac pen's rs 8 bn defaulter flees country




after billionaire diamantaire nirav modi, another defaulter vikram kothari, the promoter of rotomac pen, has also allegedly gone abroad after swindling rs 8 billion from various public sector banks including allahabad bank, bank of india and union bank of india, sources said. the kanpur-based compan...



foreign banks' india footprint shrinks as domestic competition hots up




foreign banks are increasingly shrinking their presence in india and are also becoming more conservative than private and public sector counterparts. while many of them have sold some of their businesses in india as part of their global strategy, some are trying to keep their core expertise intact. ...



foreign banks' india footprint shrinks as domestic competition hots up




foreign banks are increasingly shrinking their presence in india and are also becoming more conservative than private and public sector counterparts. while many of them have sold some of their businesses in india as part of their global strategy, some are trying to keep their core expertise intact, ...



airtel payments bank appoints anubrata biswas as new md & ceo




airtel payments bank on thursday appointed anubrata biswas as its managing director and chief executive officer. in his new role, anubrata will be responsible for driving airtel payments bank’s mission of taking convenient and innovative digital banking services to the doorstep of every indian, bh...



state bank of india in uk set for major restructuring




in a strategic shift, the state bank of india (sbi) will undertake a major restructuring of its business in the uk from april and ensure greater protection for depositors, india's largest state-owned bank has said. sbi's uk operations will transform into a subsidiary named state bank of india uk lim...



air india gets rs 1,500-cr bank of india loan to meet working capital needs




debt-laden air india has received a loan worth of rs 1,500 crore from bank of india to meet urgent working capital needs less than a month after floating a tender in this regard, an airline source said.for the second time in recent months, the flagship carrier has received loans from a public sector...



mallya trial resumes, more defence witnesses to depose




the trial to prove a prima facie case of fraud against fugitive liquor baron vijay mallya resumes here today to determine if he can be extradited to india to face charges over his erstwhile kingfisher airlines.the 61-year-old will be back in the dock at westminster magistrates' court in london for d...