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Budget 2017

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Banks - Public Sector News

  • SBI raises $500 m from overseas bond sale, prices at 3.3%

    SBI raises $500 m from overseas bond sale, prices at 3.3%  

    "The pricing offers a spread of 145 bps over the five-year US treasury, which is equivalent to a price of 99.744 percent yielding 3.306 percent per annum," SBI said in a note late evening after successfully closing the issue throu...

    18 Jan 2017, 9.16 am  |  Source: PTI

  • Vijaya Bank raises Rs 325 crore via bonds

    Vijaya Bank raises Rs 325 crore via bonds  

    State-owned Vijaya Bank today raised Rs 325 crore through private placement of bonds to fund business growth.

    17 Jan 2017, 8.22 pm  |  Source: PTI

  • Rating agencies assign investment grade to SBI bond programme

    Rating agencies assign investment grade to SBI bond programme  

    Moody's has assigned a Baa3 rating to SBI's proposed dollar denominated senior unsecured notes, issued under its USD 10 billion Medium-Term Note (MTN) program.

    17 Jan 2017, 2.42 pm  |  Source: PTI

  • Milk Mantra raises $10 mn to expand operation in east India

    Milk Mantra raises $10 mn to expand operation in east India  

    The fund would be utilised for the company's growth plans that include expanding production capacity through setting up of new plants and acquisitions.

    17 Jan 2017, 2.42 pm  |  Source: PTI

  • Andhra Bank launches cashless transaction with Aadhar number

    Andhra Bank launches cashless transaction with Aadhar number  

    PSU lender Andhra Bank today announced the launch of a new initiative for cashless transactions through mobile phones for which only the Aadhar number is required.

    16 Jan 2017, 4.50 pm  |  Source: PTI

  • NCDRC asks bank to pay Rs 50K for delay in processing cheque

    NCDRC asks bank to pay Rs 50K for delay in processing cheque  

    Indian Overseas Bank has been asked to pay Rs 50,000 by the apex consumer commission to a man for delaying the crediting of a cheque amount of Rs 24,652.82 into his account.

    15 Jan 2017, 10.38 am  |  Source: PTI

  • Dena Bank favours tax benefits on digital payments in Budget

    Dena Bank favours tax benefits on digital payments in Budget  

    Asked about his wishlist for the Budget - to be unveiled on February 1 - Ashwani Kumar, Chairman and Managing Director, Dena Bank told PTI, "We want more tax concessions for customers and shopkeepers who go digital. The incentives...

    13 Jan 2017, 3.38 pm  |  Source: PTI

  • SBI-Omanese fund launches second India-focused PE

    SBI-Omanese fund launches second India-focused PE  

    The Oman-India Joint Investment Fund (OIJIF), a mid-market India-focused private equity fund, today announced the first closure of its second fund, OIJIF Fund II with an initial corpus of USD 220 million. .

    12 Jan 2017, 8.42 pm  |  Source: PTI

  • SBI committed to financial inclusion of all: Bhattacharya

    SBI committed to financial inclusion of all: Bhattacharya  

    State Bank of India (SBI) chairperson Arundhati Bhattacharya today said the bank is committed to financial inclusion of all sections of people in all areas of the country.

    12 Jan 2017, 8.26 pm  |  Source: PTI

  • Budget 2017: Online payments may get cheaper with tax rebates in offing

    Budget 2017: Online payments may get cheaper with tax rebates in offing  

    Payments through digital channels including internet banking, debit card and credit card are likely to become cheaper. The Union Budget, which will be presented on February 1, is likely to announce tax rebates on such transactions...

    12 Jan 2017, 9.48 am  |  Source: Moneycontrol.com

  • UCO Bank cuts lending rate by up to 0.8%

    UCO Bank cuts lending rate by up to 0.8%  

    Public sector lender UCO Bank today slashed its benchmark lending rate by up to 0.8 percent in line with market competition.

    10 Jan 2017, 5.48 pm  |  Source: PTI

  • Allahabad Bank cuts lending rate by 0.85%

    Allahabad Bank cuts lending rate by 0.85%  

    Public sector lender Allahabad Bank today slashed its benchmark lending rate by 0.85 percent in line with market competition.

    09 Jan 2017, 8.32 pm  |  Source: PTI

  • Kumar Sharadindu is new MD & CEO of SBI Pension Funds

    Kumar Sharadindu is new MD & CEO of SBI Pension Funds  

    SBI Pension Funds, a subsidiary of State Bank of India, has appointed Kumar Sharadindu as its managing director and chief executive.

    09 Jan 2017, 4.28 pm  |  Source: PTI

  • Dena Bank to raise share capital via equities

    Dena Bank to raise share capital via equities  

    State-run Dena Bank today said its board has approved raising of share capital by up to Rs 360 crore through issue of equity shares.

    09 Jan 2017, 11.18 am  |  Source: PTI

  • Bank of India revises lending rates on retail loans

    Bank of India revises lending rates on retail loans  

    State-run Bank of India today said it has decided to reduce its interest rates on retail loans, including home and vehicle loans, with effect from tomorrow.

    08 Jan 2017, 5.48 pm  |  Source: PTI

  • BNP Paribas Cardiff rules out hiking stake in SBI Life

    BNP Paribas Cardiff rules out hiking stake in SBI Life  

    BNP Paribas today ruled out increasing its stake in SBI Life to 49 percent ahead of the proposed initial public offering slated for next year.

    05 Jan 2017, 9.04 pm  |  Source: PTI

  • Consolidation in PSU banks a long drawn process: Rai

    Consolidation in PSU banks a long drawn process: Rai  

    Terming consolidation in public sector banks a "long drawn process", Banks Board Bureau (BBB) chief Vinod Rai said it should gather momentum in 2-3 years.

    05 Jan 2017, 6.34 pm  |  Source: PTI

  • BoB reduces MCLR by up to 75 bps

    BoB reduces MCLR by up to 75 bps  

    State-run Bank of Baroda today said it has reduced it marginal cost of funds based lending rate (MCLR) by up to 75 basis points across various tenors.

    05 Jan 2017, 5.50 pm  |  Source: PTI

  • United Bank of India slashes lending rate by up to 0.90%

    United Bank of India slashes lending rate by up to 0.90%  

    The bank's asset liability committee revised downwards the marginal cost of funds-based lending rate (MCLR) by 0.60-0.90 percent across different tenures with effect from January 6.

    05 Jan 2017, 11.32 am  |  Source: PTI

  • Demonetisation: Low-cost deposits growth positive for banks, says PS Jayakumar

    Demonetisation: Low-cost deposits growth positive for banks, says PS Jayakumar   

    Bank of Baroda’s savings account growth after demonetisation stands at Rs 38,000 crore. Sanctions in the third quarter have been robust with drawdowns on the lower side, PS Jayakumar, MD & CEO of Bank of Baroda said.

    05 Jan 2017, 10.29 am  |  Source: CNBC-TV18

  • SBI partners Coca-Cola, HCCBPL to promote digital payment

    SBI partners Coca-Cola, HCCBPL to promote digital payment  

    State Bank of India, Coca-Cola India and Hindustan Coca-Cola Beverages have signed an agreement to enable over 2.6 million retailers and 5,000 distributors in conducting business transactions digitally.

    04 Jan 2017, 6.58 pm  |  Source: PTI

  • Canara Bank reduces MCLR by upto 75 bps

    Canara Bank reduces MCLR by upto 75 bps  

    State-run Canara Bank today said it has reduced the minimum cost of funds based lending rates (MCLR) by up to 75 basis points for various maturities.

    04 Jan 2017, 6.14 pm  |  Source: PTI

  • SBI blocks online transfer of cash into major e-wallets

    SBI blocks online transfer of cash into major e-wallets   

    The State Bank of India (SBI) has blocked its customers from transferring cash into e-wallets through netbanking, according to sources. However, customers can top-up up the e-wallets via debit and credit cards.

    04 Jan 2017, 1.40 pm  |  Source: CNBC-TV18

  • A farm loan waiver is bad news for banks: Ambit

    A farm loan waiver is bad news for banks: Ambit  

    Even as hopes of a wider farm loan waiver have risen in the wake of PM Narendra Modi’s pro-agri speech on December 31, 2016, an Ambit report warns it could spell disaster for banks.

    04 Jan 2017, 10.42 am  |  Source: Moneycontrol.com

  • Indiabulls Housing Finance cuts home loan rates by 0.45%

    Indiabulls Housing Finance cuts home loan rates by 0.45%  

    Indiabulls Housing Finance (IBHFL) today reduced its home loan rates by 45 basis points, bringing it down to lowest in six years.

    03 Jan 2017, 7.04 pm  |  Source: PTI

  • ICICI Bank cuts lending rate by 0.7%

    ICICI Bank cuts lending rate by 0.7%  

    The bank has reduced marginal cost of funds based lending rate (MCLR) by 0.7 percent to 8.20 percent for 1-year tenure, ICICI Bank said in a statement.

    03 Jan 2017, 8.28 am  |  Source: PTI

  • BHIM downloaded 3 mn times, top app in India: Kant

    BHIM downloaded 3 mn times, top app in India: Kant  

    Indigenous digital payments app BHIM has been downloaded 3 million times and enabled over 5 lakh transactions since its launch, Niti Aayog CEO Amitabh Kant said today.

    02 Jan 2017, 9.56 pm  |  Source: PTI

  • SBI hopes rate cuts to help boost sagging loan market

    SBI hopes rate cuts to help boost sagging loan market  

    The nation's largest lender State Bank of India today said the 90-basis points-reduction in the lending rates is likely to prop up its sagging loan growth and expects to boost the loan book to 8-9 percent for the current financial...

    02 Jan 2017, 7.58 pm  |  Source: PTI

  • SBI pushes merger of 5 associate banks, BMB to next fiscal

    SBI pushes merger of 5 associate banks, BMB to next fiscal  

    State Bank chairperson Arundhati Bhattacharya today hinted that the mega merger of its five associate banks and Bharatiya Mahila Bank (BMB) could be pushed to the next financial year as it is still awaiting the government notifica...

    02 Jan 2017, 6.02 pm  |  Source: PTI

  • Banks sharply cut lending rates after low-cost deposits,PM nudge

    Banks sharply cut lending rates after low-cost deposits,PM nudge  

    SBI, the country's biggest lender by assets, said on Sunday it had cut its so-called marginal cost of funding-based lending rates (MCLR) by 90 basis points for maturities ranging from overnight to three-year tenures.

    02 Jan 2017, 2.34 pm  |  Source: Reuters

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