Tag: Bank

‘Selfish’ private-sector bank triggered Altico crisis: SBI chief

Says its reckless act could imperil whole financial system State Bank of India Chairman Rajnish Kumar has slammed a private sector lender for the crisis at Altico Capital, as its unilateral move to secure its own money can potentially cause troubles to the wider financial system. The realty-focussed non-banking lender Altico, which owes over ₹4,500 crore

Bank of Baroda expects Rs 10,000 crore capital from government

State-run lender, Bank of Baroda has requested the government to inject Rs 10,000 crore equity from its recapitalisation plan in the current financial year, the bank’s Executive Director Papia Sengupta said on August 26. Bankers are expecting capital infusion as early as September after Finance Minister Nirmala Sitharaman last week said public sector lenders will receive upfront

RBI policy: India’s central bank faces calls to do more than just one rate cut

India’s central bank is poised to deliver its fourth successive quarter-point interest rate cut on Wednesday, amid calls from investors and the government for further easing as a slowdown gripping the economy becomes more pervasive. The Reserve Bank of India will lower the benchmark repurchase rate by 25 basis points to 5.5%, according to almost all of the 36

Bank of Baroda buys ₹3,000 crore DHFL loans

MUMBAI: Bank of Baroda (BoB) has entered into a transaction with Dewan Housing Finance Corp. Ltd (DHFL) to acquire loans worth ₹3,000 crore against its exposure to the non-bank lender, even as a lenders’ consortium to the stressed non-bank lender considers a resolution plan, two people aware of the development said. BoB acquired the pool of loans made

Syndicate Bank bets on Big Data to boost growth

Agri-loan waiver schemes to be completed by the end of FY20 Syndicate Bank is focusing on improving its information technology infrastructure in areas such as Big Data and Analytics. Replying to a query by a shareholder on the capex investment of the bank for the next two to three years at the annual general meeting

Searches resume at J&K Bank corporate headquarters

Anti-corruption bureau sleuths, who are looking into allegations of fraudulent appointments in the Jammu and KashmirBank, Sunday again raided the financial institution’s corporate headquarters here, officials said. On Saturday, searches were carried out at the bank’s headquarters at M A Road, soon after Parvez Ahmad was removed as its chairman by the state government. The bureau

Merger impact: Bank of Baroda looks to rationalise 800-900 branches

NEW DELHI: State-owned Bank of Baroda (BoB) is considering the option of rationalising 800-900 branches across the country to improve operational efficiency, following its merger with Dena Bank and Vijaya Bank. The merger of Dena Bank and Vijaya Bank with BoB became effective from April 1. It does not make sense to have branches of Dena

View: Economies of scale in bank mergers would be huge

The recent successful merger of two public sector banks (PSBs), Dena Bank and Vijaya Bank, with Bank of BarodaNSE -2.97 % has paved the way for the future road map of PSB restructuring. It has created the right synergy, achieved scale & resulted in better shareholder value creation. It would be wrong to think that this move of GoI was in

How to link Aadhaar card to bank account

The process to link your bank account with Aadhaar is more or less similar for most banks. Once the process is initiated, the bank takes your consent and will get your Aadhaar linked with your bank account. Banks usually provide you four different options to link your bank account with Aadhaar. It can be done either through the online mode, offline mode, via SMS,

Centre asks CVC for clarity over supervision in privatised IDBI bank

The government has asked the Central Vigilance Commission if it still has vigilance jurisdiction on the now privatised IDBI BankNSE 0.23 %, and sought its advice on the course of action in case of ongoing complaints or investigations, a government official said. In January, the Reserve bank of India had classified IDBI Bank as a private sector lender