MONEY & BANKING


The Enforcement Directorate (ED) on Tuesday said it has attached properties worth Rs 114.19 crore belonging to various defaulter borrowers of Bengaluru-based Sri Guru Raghavendra Sahakara Bank Niyamitha.   The case pertains to the misappropriation of public deposits to the tune of...

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Moneylife Digital Team 24 March 2023
Rating agency ICRA Ltd has revised its outlook to positive from stable for non-banking financial companies - infrastructure finance companies (NBFC-IFCs) on expectations of a continuation of enhanced performance in FY23-24.   In a note, ICRA says overall infrastructure credit...

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Moneylife Digital Team 14 March 2023
While clarifying that no proposal to set up any new bench of the national company law tribunal (NCLT) and national company law appellate tribunal (NCLAT) is under consideration, the Union government says there are 21,205 cases pending before NCLT benches. In 611 cases for corporate insolvency...

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The successive failure of two private banks in the US—Signature Bank and Silicon Valley Bank—though it would result in tightening of liquidity in the global debt markets, the impact will be limited for most of the rated finance institutions in India and the Asia Pacific (APAC) region,...

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HSBC UK Bank plc is acquiring Silicon Valley Bank UK Limited (SVB UK) for 1 pound, after a weekend of frantic negotiations by UK officials.   In a statement, HSBC says the transaction "completes immediately". The acquisition will be funded from existing resources, the Guardian...

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While relatively unknown outside of the Silicon Valley, the Silicon Valley Bank (SVB) was among the top 20 American commercial banks, with $209 billion in total assets at the end of last year, according to the Federal Deposit Insurance Corporation (FDIC).   But now, it is the largest...

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The State Bank of India (SBI), the country's largest lender, has raised Rs 3,717 crore through its third Basel III compliant Additional Tier 1 bond issuance in the current financial year on Wednesday, at a coupon rate of 8.25 per cent.   The proceeds of the bonds will be utilised in...

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After dilly-dallying for over two years, the IDBI Bank Ltd. has finally declared the DHFL promoters and siblings -- Kapil Wadhawan and Dheeraj Wadhawan -- as 'wilful defaulters' in a Rs 758 crore unpaid loans case.   The IDBI move came on February 27 against the Wadhawan brothers who...

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Sponsored Post 03 March 2023
A savings bank account is undoubtedly one of the easy ways to keep your hard-earned money secure and benefit from the interest it generates, as per the rate offered.   With an array of banking services, including investment opportunities, you can keep your money protected and...

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Moneylife Digital Team 21 February 2023
A sustained improvement in the financial performance of Indian banks bodes well for the sector's intrinsic risk profiles, says Fitch Ratings. The pace of asset quality and profitability improvement has exceeded Fitch's expectations, while capital buffers are broadly in line with the agency's...

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Moneylife Digital Team 21 February 2023
Citizens from India and Singapore can now send money across the two countries using a unified payments interface (UPI) and PayNow. Funds held in bank accounts or e-wallets can be transferred to or from India using the UPI-ID mobile number or virtual payment address (VPA). Singapore is the...

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IANS 21 February 2023
Mergers of banks in India has resulted in increased efficiency for the acquirers or the merged entity and higher shareholders wealth for the acquiree banks, as per a research paper published by the Reserve Bank of India (RBI).   "The expected benefits of mergers and acquisitions...

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Moneylife Digital Team 16 February 2023
COVID-19 has extracted a heavy toll on non-banking finance companies (NBFCs)-microfinance institutions (MFIs); however, according to India Ratings and Research (Ind-Ra), most of the impact has been absorbed till the first nine months (9M) of FY22-23. The agency expects the growth momentum to...

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Moneylife Digital Team 13 February 2023
Nearly 40% of the gross non-performing assets (NPAs) of scheduled commercial banks (SCBs)  pertain to the top-312 defaulting borrowers and, during the past five years, these banks have recovered about Rs6.60 lakh crore from NPA accounts, the Union government informed the Lok...

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Moneylife Digital Team 06 February 2023
All scheduled commercial banks (SCBs) wrote off Rs10.09 lakh crore during the past five financial years, from FY17-18 to FY21-22, while during the same period, the Union government has infused Rs2.76 lakh crore to recapitalise public sector banks (PSBs), the Lok Sabha was...

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Moneylife Digital Team 06 February 2023
Indian banks' net interest margin (NIM) will face pressure in the financial year ending March 2024 (FY23-24) as they increase deposit rates to attract funds to support sustained high loan growth, says Fitch Ratings.   In a report, the rating agency says, "We expect the Indian banking...

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Moneylife Digital Team 01 February 2023
While presenting the Budget 2023, finance minister (FM) Nirmala Sitharaman proposed to increase tax collected at source (TCS) on certain foreign remittances and the sale of overseas tour packages. There is no change in the tax for education or medical purpose.    Section 206C of the...

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IANS 30 January 2023
Karnataka police have arrested a relationship manager of IDBI Bank in Bengaluru in connection with transferring Rs4.92 crore illegally to various accounts, police said on Monday.   According to police, 34-year-old Sajila, a relationship manager attached to IDBI Bank, Mission Road...

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IANS 28 January 2023
The United Forum of Bank Unions (UFBU) has deferred the two-day nationwide bank strike on January 30-31 following an understanding at the conciliation meeting held in Mumbai, said C.H.Venkatachalam, General Secretary, All India Bank Employees' Association (AIBEA).   According to...

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IANS 16 January 2023
The Economic Offences Wing (EOW) of Delhi Police has arrested a former assistant vice president of the RBL bank for allegedly transferring Rs 19.80 crore from bank's two accounts to his own accounts in other banks.   The accused, identified as Nagendra Kumar (39), had also resigned...

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