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24 June, 2018 12:51 PM NPA Crisis: 11 PSU Bank Chiefs To Appear Before Parliamentary Panel

The accumulated NPAs in the Indian banking system have touched Rs 9 lakh crore. Senior officials of 11 public sector banks (PSBs) will appear before the Parliamentary Standing Committee on Finance on Tuesday on the issue of the banks' massive non-performing assets (NPAs), or bad loans, and increasing number of fraud cases, according to official sources 38

23 June, 2018 7:01 AM Pakistanis transferred USD 15 billion abroad during FY 2016-17: Report

A staggering amount of USD 15.253 billion was transferred abroad by Pakistani citizens through normal banking channels during the financial year 2016-17, according to a media report. The amount was revealed in an eight-page written order in a suo motu case pertaining to retrieving the alleged ill-gotten money from foreign accounts, according to a report 40

21 June, 2018 1:04 AM B Sriram, SBI's MD, Appointed As IDBI Bank's CEO

B Sriram has been appointed in place of incumbent Mahesh Kumar Jain who was recently named Deputy Governor of the Reserve Bank of India (RBI). New Delhi: State Bank of India's (SBI) Managing Director B Sriram was appointed as the IDBI Bank's CEO and managing director for a temporary period of three months, according to an official order. He has been appointed 121

20 June, 2018 3:43 PM Nomura sees OMOs at Rs 1 trillion this fiscal

The Reserve Bank is likely to conduct open market operations (OMO) purchase worth Rs 1 trillion in the current financial year, says a report. On Tuesday, the central bank had announced a Rs 1,000 -crore OMO , where it is buying five government securities. "For the full fiscal year, we still expect Rs 1 trillion in OMO buybacks, but these should be concentrated 40

20 June, 2018 2:39 PM SBI, HDFC Bank, ICICI Bank, Axis Bank, PNB Offer This Zero Minimum Balance Account. See Benefits Here

Zero minimum balance account: A basic savings bank deposit account does not require a customer to maintain a minimum monthly average balance also. A basic savings bank deposit (BSBD) account does not require any minimum balance. This account that is generally meant for poor sections of society offers interest rates similar to normal savings bank accounts 32

20 June, 2018 7:08 AM Market Update: Bajaj Finance hits fresh 52-week high; RIL jumps 2%, TCS most active

The breadth of the market favoured advances, with 922 stocks advancing, 722 declining and 402 remaining unchanged. On BSE, 1256 stocks advanced, 1099 declined and 119 remained unchanged. The broader indices including the Nifty and the Sensex extended the morning gains this Wednesday afternoon with the Nifty up 50 points at 10,759 and the Sensex 37

18 June, 2018 7:19 PM CBI’s e-mail account hit by ‘spam’

An official e-mail account of the CBI’s banking security and fraud cell, which is investigating important cases such as those against fugitive Nirav Modi and Mehul Choksi, was recently compromised. The agency said there was no breach of information, and a spam activity had been detected on May 17. In the Nirav Modi case, the agency is of the view that some of the Interpol 65

18 June, 2018 11:18 AM Yes Bank gets SEBI nod for custodian of securities business

Yes Bank today said it has received approval from market regulator Securities and Exchange Board of India (SEBI) for acting as custodian of securities. Custodian of securities is a licence granted by Sebi to eligible entities allowing them to offer custodial services to financial market participants including foreign institutional investors (FIIs) and foreign 43

14 June, 2018 12:07 PM Hinduja Leyland Finance files for IPO

Fresh issue of equity shares is for ₹500 crore. CHENNAI: Hinduja Leyland Finance, a non-banking finance company, has filed a draft red-herring prospectus for its initial public offering (IPO) with the Securities and Exchange Board of India (SEBI). The fresh issue of equity shares is ₹500 crore and offer for sale is ₹600 crore, said S. Nagarajan, executive 40

11 June, 2018 5:05 PM ‘Govt. set to unveil ₹500 cr. credit enhancement fund’

To aid insurance, pension funds’ infrastructure investments The government is set to unveil a ₹500-crore credit enhancement fund next month to facilitate infrastructure investments by insurance and pension funds, a senior Finance Ministry official said. “India is launching a dedicated fund, may be next month, to provide credit enhancement for infrastructure 39