Christopher Waller,Governor,Federal Reserve “The technology-driven...
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Govt targets to open more than 3 crore PMJDY accounts during current financial year: Sitharaman
"Our target is to open more than 3 crore PMJDY accounts during the...
Pradhan Mantri Jan Dhan Yojana@10: World’s Largest Financial Inclusion Mission
PMJDY, the world’s largest successful mission has already crossed...
Depositors’ money safe in banks, concerns based on ‘flawed’ analysis: RBI
“RBI closely monitors all the banks and hereby assures all depositors that there is no such concern of safety of their deposits in any bank,” its second tweet said.
Yes Bank’s digital partners hit by moratorium
Yes Bank placed under a moratorium Thursday evening, with the RBI capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board.
State Bank of India says a 49% stake in Yes Bank will cost $331 million
“The survival of the bank is a must,” Kumar told reporters at a news conference, adding that several investors had approached SBI to form a consortium to pick up the 49% stake. He declined to name any of the investors.
RBI unveils Yes Bank’s restructuring plans,SBI likely to hold 49% stake
“The matter in regard to Yes Bank was discussed at the meeting of the central board of bank on Thursday and an in-principle approval has been given by the board to explore investment opportunity in the bank,” the SBI board informed the bourses late in the evening.
SBI & LIC likely to bail out capital starved Yes Bank:Report
SBI, while neither denying nor confirming the news report, told stock exchanges that it will abide by the timelines under SEBI disclosure regulations in disclosing the developments, if any in the matter to Stock Exchanges.
RBI puts troubled Yes Bank under moratorium,limits withdrawals at Rs 50k
The RBI has also superseded the Board of Directors of Yes Bank for a period of 30 days owing to serious deterioration in the financial position of the Bank.
Prashant Kumar, ex-DMD and CFO of State Bank of India has been appointed as the administrator of the bank.
Merger of 10 public sector banks into 4 to come into effect from Apr 1: FM
United Bank of India and Oriental Bank of Commerce will be merged with Punjab National Bank; Syndicate Bank will be merged with Canara Bank; Allahabad Bank will be amalgamated with Indian Bank; and Andhra Bank and Corporation Bank will be consolidated with Union Bank of India.
Bill to avert PMC Bank-like crisis may get Parliament nod in Budget session
To further bolster the confidence of customers, the government has increased deposit insurance cover by five-fold to Rs 5 lakh to ensure security of public money in banks.
Mega bank merger on track, says Sitharaman amid worry over April 1 deadline
“We are also conscious of extra load on them [banks] in terms of the kind of demands that I put on them. I have asked them to reach out to 400 districts, I have asked them to reach out to MSMEs, restructure their loan. So there is a lot of core banking work, which they are undertaking. I must be conscious of that also. So the merger and the decision taken by respective banks boards are all well taken. We are going as per schedule on that. There is no uncertainty on that. I am on course. There need not be speculation,” she said after unveiling EASE 3.0, the Public Sector Bank (PSB) Reforms Agenda 2020-21 for smart, tech-enabled banking, and the PSB EASE Reforms Annual Report 2019-20.
Mega bank consolidation: Meeting April 1 deadline appears challenging
It is believed that the Prime Minister’s Office (PMO) has sought details from these lenders about their financial projections for the next three to five years. Details in respect of NPAs, capital requirement, credit growth and cost savings on account of the mergers have been asked for, officials said.