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Bank employees to go ahead with August 22 nationwide strike

Bank employees to go ahead with August 22 nationwide strike

The United Forum of Bank Unions (UFBU) on Wednesday declared that their nationwide strike call for August 22 stands as the talks with the Indian Banks` Association (IBA) in Mumbai have failed.

Saving deposit rate cuts to lead to lower lending rates: Report

Saving deposit rate cuts to lead to lower lending rates: Report

eduction in saving deposit rates by three large banks over the past fortnight may set the ball rolling for lower lending rates and stoke greater competition among lenders, says a report.

Alert! Banks to remain closed for 4 straight days; ATMs likely to run out of cash

Alert! Banks to remain closed for 4 straight days; ATMs likely to run out of cash

The dates being - August 12 for second Saturday (Banks are closed on second and fourth Saturdays every month), August 13 for Sunday, August 14 for Janmashtami and August 15 for Independence Day.

RBI to give 'junked notes' figure after counting: Arun Jaitley

RBI to give 'junked notes' figure after counting: Arun Jaitley

Union Finance Minister Arun Jaitley on Tuesday said the Reserve Bank of India (RBI) will announce the amount of deposits of junked notes after the November 8 demonetisation as soon as the counting was completed.

Things to keep in mind as a loan guarantor

Things to keep in mind as a loan guarantor

Before you say yes to become a loan guarantor, check on the below-mentioned essentials to avoid falling into an unnecessary financial trap.

RBI asks banks to enable account number portability

RBI asks banks to enable account number portability

RBI Deputy Governor S S Mundra has asked banks to work towards account number portability as it will be a far-reaching step towards enhancing competition and improving customer service.

76 banks report 5,076 cases of active banking frauds

76 banks report 5,076 cases of active banking frauds

A combined 5,076 cases of active banking frauds involving Rs 1 lakh or more causing losses of Rs 16,78,853 lakh were reported by 76 banks during 2016-17, Parliament was informed on Tuesday.

Banks' exposure to telecom sector at Rs 97,681 crore: Arun Jaitley

Banks' exposure to telecom sector at Rs 97,681 crore: Arun Jaitley

Finance Minister Arun Jaitley on Tuesday said banks have an exposure of Rs 97,681 crore in the telecom sector, which is grappling with financial stress.

Indian banks face $37 billion hit from top 50 stressed assets: CRISIL

Indian banks face $37 billion hit from top 50 stressed assets: CRISIL

Indian banks may have to write off 60 percent of the value of bad loans from their 50 large stressed asset accounts, or a hit of 2.4 trillion rupees ($37.31 billion), ratings agency CRISIL said on Wednesday.

Banks not to take coercive steps against farmers, says SC

Banks not to take coercive steps against farmers, says SC

The remarks were made by a bench of Justices Dipak Misra and A M Khanwilkar while dealing with a PIL filed by farmers from Tamil Nadu.

IDFC plans Rs 10,000 crore fund raise for biz expansion

IDFC will seek its shareholders' approval to raise Rs 10,000 crore by issuing debt securities on private placement basis.

CVC monitoring CBI probe in top bank frauds, including Vijay Mallya

CVC monitoring CBI probe in top bank frauds, including Vijay Mallya

The Central Vigilance Commission (CVC) is supervising CBI's probe in 10 top bank fraud cases, including one involving fugitive businessman Vijay Mallya, and says bankers need have no fear if their decisions are bonafide.

Finance Ministry for extending RBI deadline on Basel III norms

Finance Ministry for extending RBI deadline on Basel III norms

The finance ministry has made a case for pushing back the Reserve Bank's deadline for implementing Basel III banking norms in view of higher capital requirement to deal with bad loans which have reached unacceptable levels.

Govt asks banks to deposit junked notes at RBI by July 20

Govt asks banks to deposit junked notes at RBI by July 20

This is the second window the government has provided to banks, post offices and cooperative banks for depositing the junked notes with RBI. The earlier window was open till December 31, a day after the 50-day period of demonetisation of high value currency.

Now Aadhaar mandatory for opening bank A/c, financial transactions above Rs 50,000

Now Aadhaar mandatory for opening bank A/c, financial transactions above Rs 50,000

All existing account holders have also been asked to submit Aadhaar to banks by December 31, 2017, failing which accounts will become invalid.

No plan to issue next list of defaulters any time soon: RBI

No plan to issue next list of defaulters any time soon: RBI

Following the Reserve Bank of India (RBI) identifying 12 accounts that are responsible for 25 percent of non-performing assets (NPAs), the central bank on Friday said it has no plans to come out with a next list any time soon.

Cabinet approves proposal for bill to deal with bankruptcy in financial sector

Cabinet approves proposal for bill to deal with bankruptcy in financial sector

The Bill would provide for a comprehensive resolution framework for specified financial sector entities to deal with bankruptcy situation in banks, insurance companies and financial sector entities.

 

RBI says banks must start bankruptcy proceedings against 12 major defaulters responsible for 25% of bad loans

RBI says banks must start bankruptcy proceedings against 12 major defaulters responsible for 25% of bad loans

The Reserve Bank of India (RBI) has identified 12 of the country`s biggest loan defaulters and said creditors must pursue bankruptcy proceedings against them, as it begins to cut the USD 150 billion in stressed debt hobbling Asia`s third-largest economy.

RBI identifies 12 accounts responsible for 25% of Rs 8 lakh crore bad loans

RBI identifies 12 accounts responsible for 25% of Rs 8 lakh crore bad loans

The RBI on Tuesday identified 12 accounts each having more than Rs 5,000 crore of outstanding loans and accounting for 25 percent of total NPAs of banks for immediate referral for resolution under the bankruptcy law.

Banks not yet prepared for GST roll-out: IBA to Parliamentary panel

Banks not yet prepared for GST roll-out: IBA to Parliamentary panel

With less than a month left for the rollout of the GST, the Indian Banks' Association (IBA) has informed a Parliamentary panel that lenders are not yet geared up for implementation of the new indirect tax regime.