Banks have traditionally dominated the organized gold loan market,...
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78 % of consumers choose digital banking over cash transactions: Report
Jamie Dimon, CEO, JPMorgan Chase Banks are also feeling the heat...
Household real income continued to decline in recent months: Report
The report added that for now, however, the decline in real HH...
YES Bank files complaint with police against ‘fake news’
“Over the past few days some miscreants have been spreading false information and malicious rumours about Yes Bank on WhatsApp and other social media platforms to create panic and fear in the mind of its depositors. The messages attempt to portray the bank in poor light and are intended to tarnish the image of the bank in the eyes of its depositors, stakeholders and the general public,” the bank said.
World’s largest banks lagging in sustainable finance: Report
Among those 23 banks with commitments, the average annual level of fossil fuel finance between 2016 and 2018 is nearly twice the annualized amount of sustainable finance commitments. Only seven banks had annualized sustainable finance targets greater than the amount of finance they provide for fossil fuel-related transactions.
Europe’s money laundering scandals expand with criminal probe of ABN Amro
Increased compliance costs and possible penalties add to the headwinds confronting European banks. Negative interest rates, lackluster economies, and Brexit are already taking a toll on profitability, forcing more lenders forcing the lenders to pass rising costs on to customers.
SBI shelves IPO plans for general insurance arm
SBI General, valued at over Rs 12,000 crore recently, is a joint venture between SBI and Insurance Australia Group(IAG) with a 26 per cent ownership which is planning to exit the joint venture fully
PSBs consolidation building block for $5 trillion economy: Finance secy
When asked about rationale for doing all the four mergers together, Kumar said, “We wanted to do it one time, give the road map and remove the uncertainty. Now there is no uncertainty and road map is all clear. Governance reforms done. Who wants to give their power, we have given it. Even in appointments we have given it. Now it is completely professionalised.”
There will not be single job loss due to merger of banks: FM Sitharaman
The move will bring down the number of state-run banks to 12 from 19 after the merger of Dena Bank and Vijaya Bank with Bank of Baroda effective April 2019. As of April 20-17, there were 27 state-run banks in the country, right before the SBI merged with itself its five associate banks along with the Bharatiya Mahila Bank.
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