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Latest Banking News & Financial updates from around the web. Daily updates on Global Banking News, Financial Markets, Economy and News from the different banks.
A two days bank strike by Public Sector Banks hit the transactions worth Rs 20,000 crore. Industry body Assocham, urging the United Forum of Bank Unions (UFBU) to call off the strike. Assocham has also urged the government to come up with a plan for restoring the health of public sector banks. The UFBU, an umbrella […]
Bait money is the money which is being kept in the Bank locker and duly recorded for tracking down the robbers. This is basically a small pile of currency notes which has been duly noted by the designated Bank officials in the branch and is kept in safe custody so that in case of any robbery or […]
The newly-enacted Insolvency and Bankruptcy Code (IBC) has forced nearly 2100 companies who have defaulted on repayment of loans to banks, to settle their dues of around Rs 83,000 crore. A loan is classified as an NPA if dues are unpaid for 90 days. The list includes many big names like Ruias of Essar, Singals of Bhushan Group and Gaurs […]
PNB Q4 Financial Results – Fraud hit Punjab National Bank (PNB) has reported a loss of Rs 13,417 crore in Q4 of FY 2017-18. The Provisions for bad assets in the Q4 FY 2017-18 has increased to Rs 16,202 crore, from Rs 5,753.3 crore in March quarter 2017. PNB Capital Adequacy Ratio (CAR) dipped to 9.2 […]
Syndicate Bank Q4 Results 2018 – Public sector lender Syndicate Bank has published the financial results of Q4 FY 2017-18. Bank has reported a net loss of Rs 2,195.12 crore in the last quarter ended March 31. Loss is mainly reported in the quarter due to high provisioning and increase in Gross Non Performing Assets (NPA). In […]
Reserve Bank of India has put additional restriction on State Run Public Sector Bank Allahabad Bank in lending to risky assets and accepting high cost deposits. Allahabad Bank is already under RBIs prompt corrective action (PCA) due to higher NPA. Additionaly RBI has also restricted lender for expansion of risk weighted average and reduce exposure […]
Checkout the various CVC guidelines on reporting of fraud cases to investigating agencies like CBI. Central Vigilance Commission (CVC) has revised the guidelines for reporting the cases of frauds to different departments like CID, State Police or CBI incase of Public Sector Banks. [box type=”info” align=”aligncenter” ]Frauds of minimum Rs 3 crore and to Rs 25 […]
If believe on the recent reports by leading fiancial newspapers, there are few Public Sector Banks, which could be merged by end of this financial year or earlier. Finance Ministry has called all banks under PCA for review meeting and setting up performance metrices under reform agenda program EASE (Enhanced Access and Service Excellence), which focuses […]
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