Sunil Barthwal, Commerce Secretary The issues which figured in the...
Category:
Banking & Bancassurance
Latest
Jude Gomes appointed as MD & CEO of Ageas Federal Life Insurance
Jude Gomes, managing director & Chief Executive Officer, Ageas...
RBI holds rates, shifts stance to ‘neutral’ signalling rate cuts ahead
Shaktikant Das,Governor,Reserve Bank of India Annual retail...
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.
Finance Ministry starts groundwork for fresh bank consolidation
The Finance Ministry wants banks to undertake an internal exercise for the best match and then come up with the merger idea. This plan would have to weigh various aspects including regional balance, geographical reach, IT compatibility, financial burden and human resource transition.
PNB could take control of OBC, Andhra Bank, Allahabad Bank: Reports
New Delhi has been trying to merge smaller regional state-run banks with better managed larger government-owned lenders as one way to reduce bad loans that stand at more than Rs 9 trillion ($130 billion), or nearly 5 per cent of the nation’s gross domestic output.
BoI to sell 25.05% stake in its life insurance joint venture
In its request for proposal (RFP), the bank said it is proposing to sell 6.48 crore equity shares which amounts to Rs 1,106 crore.While BoI has a 28.96 per cent stake in the life insurance joint venture, Union Bank of India and Dai-ichi Life has 25.10 per cent and 45.94 per cent, respectively.