IIHL, after transferring the funds ,has asked the CoC and...
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Banks should focus on their core business, bring innovative products to mobilise deposits: FM
In order to overcome the mismatch between deposits and lending,...
RBI hikes limit for tax payments via UPI from Rs 1 lakh to Rs 5 lakh
Mumbai: The Reserve Bank has decided to enhance the limit for tax...
Bank frauds worth Rs 71,500 crore detected in FY19 states RBI report
Among bank groups, public sector banks (PSBs), which constitute the largest market share in bank lending, have accounted for the bulk of frauds reported in 2018-19. It was followed by private sector banks and foreign banks
FM unveils merger of 10 govt banks to revive economic growth from 5-yr low
Finance Minister Nirmala Sitharaman, who had last week announced tax sops and measures for sectors such as auto, announced four new set of mergers — Punjab National Bank, Oriental Bank of Commerce and United Bank of India will combine to form the nation’s second-largest lender; Canara Bank and Syndicate Bank will merge; Union Bank of India will amalgamate with Andhra Bank and Corporation Bank; and Indian Bank will merge with Allahabad Bank.
Bank recapitalisation unlikely to deliver much, says S&P
“Fragile financial markets, rising risk aversion, and weakness in some highly leveraged corporate sectors will continue to stress the asset quality and growth,” the agency said, adding the key to banking recovery is the resolution of legacy weak assets.
Recapitalisation of Indian public sector banks disappearing into quicksand
During FY14-FY19, the government and Life Insurance Corporation (LIC) together infused Rs 3 trillion in PSBs. However, from the value creation objective, the scenario looks weak
Banks see whopping 73% spike in frauds at Rs 71,543 crore in FY19
Banks, on an average, report fraud loss of Rs 35,000 crore every year. “This does not take into account loss to investors and other financial and operational creditors, apart from the intangible losses to the system,” said RBI’s Jayant Dash
Bancassurance Deals:Citi and Bajaj General, IDBI Bank and TATA AIG General join hands
Bajaj Allianz General Insurance will offer personal lines of insurance such as health, personal accident, motor, home, and travel, along with commercial line of insurance such as property, marine, engineering, etc. to the bank’s customers
RBI asks banks to grout ATMs to wall, pill or floor to enhance security
Based on the recommendations of the panel, the central bank has now issued instructions aimed at mitigating risks in ATM operations and enhancing security
Over Rs 2.05 lakh crore frauds in 11 years: ICICI Bank, SBI and HDFC among top victims
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 were reported by the ICICI Bank involving Rs 5,033.81 crore.The state-run State Bank of India (SBI) reported 6,793 fraud cases involving Rs 23,734.74 crore followed by HDFC Banks which recorded 2,497 such cases involving Rs 1,200.79 crore, according to the data given by the central bank in response to an RTI query filed by this correspondent.
Bank fraud touches unprecedented Rs 71,500 crore in 2018-19: RBI
As many as 6,801 cases of fraud were reported by scheduled commercial banks and select financial institutions involving an amount of Rs 71,542.93 crore in the last fiscal (increase of over 73 per cent in the fraud amount), the Reserve Bank of India (RBI) said
Insurers gaining, Banks losing ground in Finance:European Central Bank Governor
“In Europe, an increasing share of lending is provided by investment funds, insurance companies and the providers of consumer loans,” the European Central Bank policymaker said in a speech in Helsinki.