MONEY & BANKING


IANS 25 September 2018
Mumbai, Private lender Yes Bank's board will meet on September 25 to discuss the future course of action after its MD and CEO Rana Kapoor demits office on January 31, under the direction of the Reserve Bank of India (RBI).   The board meeting comes days after the RBI decided against...

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IANS 24 September 2018
Dewan Housing Finance Corporation (DHFL) on Monday said it has not defaulted on any bonds or repayment of its financial obligations.   The statement comes after concerns of a liquidity crisis across the financial sector.   "DHFL, today reiterated that the company has neither...

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Moneylife Digital Team 21 September 2018
There is intense speculation among banking experts whether the war between Rana Kapoor and the family of co-founder late Ashok Kapoor would escalate and create a vacuum at the top. Well, the fact is that Reserve Bank of India (RBI) has adequate powers to keep the warring factions at bay and...

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IANS 21 September 2018
At a time when non-traditional competition is posing a challenge to traditional banking services, a new Capgemini report on Friday showed that globally just half of the customers are satisfied with their banking experiences.   Nearly a third of customers (32.3%) are willing to...

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IANS 21 September 2018
A day after appointing Chief Executive Officers (CEOs) in 10 public sector banks (PSBs), the government on Thursday appointed 14 Executive Directors (ED), ending the week that began with the announcement of merger of three state-run banks.   "Government appoints PSB EDs," tweeted...

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On the face of it, we, at Moneylife, would be on the side cheering the merger of nationalised banks. Over the years, their service has been sloppy; attitude to customers uncaring (while private banks at least respond, it is a tough task getting a response even from senior management of...

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IANS 20 September 2018
Executive Directors (ED) of the nationalised banks should be considered for the post of Deputy Managing Directors (DMD) in the State Bank of India, an All India Bank Employees' Association (AIBEA) official said.   "There should be a two way traffic of executives between SBI and...

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The Abu Dhabi Investment Authority and the Tamil Nadu government are doing a due diligence on the controversial Tirupur Water Project set up by the cash-strapped Infrastructure Leasing and Financial Services (IL&FS) more than two decades ago.    Abu Dhabi Investment Authority is the...

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IANS 20 September 2018
The government has appointed Managing Directors and Chief Executives of 10 public sector banks (PSBs) including the Indian Bank and the Syndicate Bank, said an official on Wednesday.   According to the Department of Personnel and Training, the Appointments Committee of the Cabinet...

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IANS 20 September 2018
 A Japanese cryptocurrency operator revealed on Thursday that hackers had accessed its systems last week and stole about 6 billion yen (USD60 million).   Tech Bureau Corp said in a statement that the unauthorised breach from abroad took place for two hours on September 14 but it was...

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IANS 19 September 2018
The Reserve Bank of India (RBI) should intervene in both spot and forward markets to arrest Indian rupee's depreciation, suggested a State Bank of India (SBI) Ecowrap report on Tuesday.   As per the report, during the June 2008 to May 2009 period, when rupee depreciated by 13 per...

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IANS 18 September 2018
The State Bank of India (SBI) has put eight non-performing assets (NPAs), or bad loan accounts, on sale to recover over Rs 3,900 crore with the e-bidding auction process slated for later this month.   In a notification last week, SBI asked interested asset reconstruction companies...

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IANS 18 September 2018
The latest global trade protectionist measures, along with high crude oil prices, dragged the Indian rupee to a fresh low of 72.98 per US dollar on Tuesday.   At 5 p.m., the rupee closed at 72.98 per greenback from its previous close of 72.51 per dollar.    It had opened at...

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IANS 18 September 2018
The Enforcement Directorate (ED) said on Tuesday that it has registered a caee of money laundering against Karnataka Minister and Congress leader D.K. Shivakumar.   The action comes in the wake of a charge sheet filed by the Income Tax Department in a special court in Bengaluru...

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IANS 18 September 2018
Rating agency ICRA on Monday downgraded the ratings of Infrastructure Leasing & Financial Services Ltd (IL&FS) for short-term and long-term borrowing programmes.   "ICRA has revised the long-term rating for the Rs 5,225 crore non-convertible debenture programme and the Rs 350 crore...

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IANS 18 September 2018
Miracles do not happen by merger of banks but result in higher bad loans as it has happened in the case of State Bank of India (SBI), said a leader of the All India Bank Employees Association (AIBEA).   Opposing the central government's decision to merge Bank of Baroda, Dena Bank and...

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IANS 18 September 2018
In a reform measure aimed at further consolidation, the government on Monday announced the merger of three state-run banks--Dena Bank, Vijaya Bank and the Bank of Baroda--that will make it the country's third largest bank with a combined business of Rs.14.82 lakh crore.   Finance...

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The recent political storm over Vijay Mallya is unlikely to abate soon. But going after Mr Mallya alone would be a classic case of missing the wood for the trees.   One striking element continues to elude everyone’s attention. Could Mr Mallya or anyone else allegedly pull off such a...

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IANS 14 September 2018
The Supreme Court on Thursday said the National Company Law Tribunal (NCLT) and the Appellate Authority (NCLAT) should refrain from interfering in insolvency resolution proceedings by the Interim Resolution Professional (IRP) and the Committee of Creditors (CoC) of the lender banks of a sick...

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IANS 12 September 2018
The Finance Ministry on Tuesday doubled the minimum threshold for filing cases in debt recovery tribunals (DRT) to Rs20 lakh to de-clutter DRTs so that they can focus on quick recovery of high value non-performing assets (NPAs).   It also advised public sector banks (PSBs) to develop...

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