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Banks - Public Sector News

  • RBI slaps penalty on UCO Bank, Allahabad Bank, Bank of India

    RBI slaps penalty on UCO Bank, Allahabad Bank, Bank of India  

    RBI has imposed penalty of Rs 2 crore each on Allahabad Bank and UCO Bank, and Rs 1 crore on Bank of India for violation of anti-money laundering norms.

    26 Jul 2016, 8.16 pm  |  Source: PTI

  • SBI launches debit card-less instant money transfer facility

    SBI launches debit card-less instant money transfer facility  

    State Bank today launched a payment system at its ATMs which will allow the account holders transfer money using mobile phone number as identifier.

    26 Jul 2016, 8.16 pm  |  Source: PTI

  • Govt not considering strategic sale of IDBI Bank: FinMin

    Govt not considering strategic sale of IDBI Bank: FinMin  

    Minister of State for Finance Santosh Kumar Gangwar in a written reply in the Rajya Sabha said: "No" to a question whether the government is proposing strategic sale of IDBI Bank.

    26 Jul 2016, 2.16 pm  |  Source: PTI

  • Have made provisions worth Rs 585 crore: State Bank of Mysore

    Have made provisions worth Rs 585 crore: State Bank of Mysore   

    In an interview with CNBC-TV18, N Krishnamachari, MD of SBM said that the slippages for this quarter increased to Rs 1050 crore against Rs 250 crore (YoY) as many inherently weak accounts slipped.

    26 Jul 2016, 10.27 am  |  Source: CNBC-TV18

  • Indian Bank presents Rs 59.15 cr dividend cheque to govt

    Indian Bank presents Rs 59.15 cr dividend cheque to govt  

    Indian Bank MD & CEO Mahesh Kumar Jain presented the dividend cheque amounting Rs 59.15 crore for the 2015-16 financial year to Finance Minister Jaitley, a bank statement said.

    26 Jul 2016, 7.46 am  |  Source: PTI

  • State Bank of Mysore posts Rs 472 cr loss in Q1 on bad loans

    State Bank of Mysore posts Rs 472 cr loss in Q1 on bad loans  

    Provision for bad loans zoomed to Rs 1,037.78 crore, more than 7.8 times from Rs 131.89 crore parked aside a year ago, showed the bank's balance sheet filed with BSE.

    26 Jul 2016, 7.16 am  |  Source: PTI

  • Not liable to repay Rs 6K cr debt due to breach of terms :KFA

    Not liable to repay Rs 6K cr debt due to breach of terms :KFA  

    The Kingfisher Airlines Limited, a holding company of Vijay Mallya, today said it is not liable to repay over Rs 6,000 crore debt to the consortium of banks as the lenders have breached terms and conditions of Master Debt Restruct...

    25 Jul 2016, 8.58 pm  |  Source: PTI

  • Asset quality under control; focus now on retail book: Canara Bk

    Asset quality under control; focus now on retail book: Canara Bk   

    Slippages during the first quarter were Rs 3,878 crore, of which Rs 648 crore was mainly in existing accounts, said Canara Bank Managing Director & CEO Rakesh Sharma.

    25 Jul 2016, 5.56 pm  |  Source: CNBC-TV18

  • IDBI Bank plans to raise Rs 28,000 cr via equity, debt

    IDBI Bank plans to raise Rs 28,000 cr via equity, debt  

    At the annual general meeting of the bank held last week they approved an enabling resolution for issue of shares aggregating up to Rs 8,000 crore inclusive of premium amount through various modes including Qualified Institutional...

    25 Jul 2016, 4.28 pm  |  Source: PTI

  • Canara Bank Q1 profit tanks 52% to Rs 229 cr, asset quality weak

    Canara Bank Q1 profit tanks 52% to Rs 229 cr, asset quality weak   

    Public sector lender Canara Bank's first quarter earnings disappointed analysts on Monday with profit falling sharply by 52.2 percent to Rs 229 crore compared with Rs 478.84 crore in same period last year. In Q4FY16, it had posted...

    25 Jul 2016, 3.49 pm  |  Source: Moneycontrol.com

  • SBI to use IOC kisan seva centres to serve farmers

    SBI to use IOC kisan seva centres to serve farmers  

    The tie-up will help farmers avail the facilities of various products and services by SBI customer service points (CSPs) like savings account, term deposit, recurring deposit, micro credit, remittances, social security schemes, Aa...

    25 Jul 2016, 2.32 pm  |  Source: PTI

  • IOB, Central Bank to benefit from capital infusion: Moody`s

    IOB, Central Bank to benefit from capital infusion: Moody's  

    "The capital infusion will improve their capitalisation at a time when asset quality pressure and elevated provisioning costs have negatively affected their financial performance," it said in its credit outlook titled, 'Indian Ove...

    25 Jul 2016, 12.08 pm  |  Source: PTI

  • RBI imposes penalty of Rs 5 cr on Bank of Baroda

    RBI imposes penalty of Rs 5 cr on Bank of Baroda  

    "The Reserve Bank of India has imposed a penalty of INR 50 million on Bank of Baroda... Pursuant to the internal audit of the Bank of Baroda, the Reserve Bank of India and investigative agencies in October 2015 were advised by the...

    25 Jul 2016, 12.00 pm  |  Source: PTI

  • Bank of Baroda to expedite loan sanction process

    Bank of Baroda to expedite loan sanction process  

    The bank is transforming through digitalisation and has sanctioned home loans in record six days, the bank's General Manager P Narasimha Rao said at a function here.

    23 Jul 2016, 1.10 pm  |  Source: PTI

  • Union Bank foils cyber attack in USD Nostro a/c, no loss

    Union Bank foils cyber attack in USD Nostro a/c, no loss  

    "There was an attempted cyber incidence in USD Nostro account of the bank. The money trail was promptly traced and movement of funds blocked. Resultantly, there is no loss caused to the Bank," the bank said in a regulatory filing.

    23 Jul 2016, 1.08 pm  |  Source: PTI

  • SBI ties up with IRCTC, Aditya Birla Group for mobile wallet

    SBI ties up with IRCTC, Aditya Birla Group for mobile wallet  

    The bank also launched its mobile wallet as a payment option at over 2,500 institutions through its Multiple Option Payment System (MOPS).

    22 Jul 2016, 10.40 pm  |  Source: PTI

  • SBI associates` staff will not be affected by merger: FM

    SBI associates' staff will not be affected by merger: FM  

    The central government has sanctioned the proposal of SBI to enter into negotiations with its subsidiary banks as well as Bhartiya Mahila Bank for acquiring them including their liabilities, he said in a written reply to the Lok S...

    22 Jul 2016, 4.24 pm  |  Source: PTI

  • Vijaya Bank Q1 profit rises 13%, asset quality weakens further

    Vijaya Bank Q1 profit rises 13%, asset quality weakens further  

    Net interest income, the difference between interest earned and interest expended, grew by 18.2 percent to Rs 782.64 crore in the quarter ended June 2016 from Rs 662.2 crore in same period last fiscal.

    22 Jul 2016, 1.30 pm  |  Source: Moneycontrol.com

  • SBBJ reports Rs 221 cr loss in Q1

    SBBJ reports Rs 221 cr loss in Q1  

    It had registered a net profit of Rs 270.62 crore in the April-June period of last fiscal, 2015-16, SBBJ said in a regulatory filing.

    21 Jul 2016, 8.24 pm  |  Source: PTI

  • Govt to infuse up to Rs 810 cr capital in United Bank of India

    Govt to infuse up to Rs 810 cr capital in United Bank of India  

    Finance Ministry has decided to allocate Rs 810 crore to the Bank by way of preferential allotment of equity in favour of the bank, United Bank of India said in a filing to BSE.

    20 Jul 2016, 9.48 pm  |  Source: PTI

  • EXPLAINED: Stressed asset funds and why do banks need them badly

    EXPLAINED: Stressed asset funds and why do banks need them badly  

    State Bank of India tied up with Brookfield Asset Management to launch a distressed asset management fund. Or, simply put, a stressed asset fund. So, what are stressed asset funds, and, more importantly, why do banks need them? Re...

    20 Jul 2016, 9.23 pm  |  Source: Moneycontrol.com

  • Central Bank to raise Rs 1297 cr via share issue to govt

    Central Bank to raise Rs 1297 cr via share issue to govt  

    Capital Raising Committee of the Board of Directors may also decide to hold an Extra-Ordinary General Meeting of shareholder on 18 August to consider and pass the necessary Special Resolution, it added.

    20 Jul 2016, 9.20 pm  |  Source: PTI

  • Daily wrap up: News from the world of business

    Daily wrap up: News from the world of business  

    Bank of Baroda has one of the largest distribution networks in India with a very strong customer franchise," Tata AIG General Insurance said in a release.

    20 Jul 2016, 8.40 pm  |  Source: PTI

  • SBI signs JV with Canada`s Brookfield for stressed assets fund

    SBI signs JV with Canada's Brookfield for stressed assets fund   

    "SBI and Brookfield propose to form a joint venture (JV), whereby Brookfield will commit approximately Rs 7,000 crore and SBI up to 5 percent of total investments into stressed assets," the public sector lender said in its release...

    20 Jul 2016, 1.05 pm  |  Source: Moneycontrol.com

  • We are adequately funded: Indian Bank

    We are adequately funded: Indian Bank  

    Hailing infusion of Rs 22,915 crore capital into 13 PSU banks by the Centre as an "intelligent move", Indian Bank Managing Director and CEO Mahesh Kumar Jain said it would help the lenders to focus on credit growth.

    20 Jul 2016, 9.10 am  |  Source: PTI

  • Fitch assigns BoI`s creditworthiness with speculative grade

    Fitch assigns BoI's creditworthiness with speculative grade  

    However, the long-term Issuer Default Rating (IDR) has been rated with a good credit quality of 'BBB-' with a stable outlook.

    19 Jul 2016, 9.10 pm  |  Source: PTI

  • Govt allocates Rs 22,915 cr for PSU bank re-capitalization

    Govt allocates Rs 22,915 cr for PSU bank re-capitalization   

    Seventy five percent of the fund infusion will be made immediately, the government said in a press release, while the remaining amount will be linked to performance.

    19 Jul 2016, 1.12 pm  |  Source: Moneycontrol.com

  • Indian Bank board recommends dividend of Rs1.50/share for FY16

    Indian Bank board recommends dividend of Rs1.50/share for FY16  

    Consequent to the declaration of the said dividend by the shareholders in the 10th AGM held on June 29, 2016, the dividend so declared will be paid to all the eligible shareholders of the Bank on July 22, 2016

    15 Jul 2016, 9.10 pm  |  Source: PTI

  • Syndicate Bank raises Rs 930 cr via Basel III compliant bonds

    Syndicate Bank raises Rs 930 cr via Basel III compliant bonds  

    "In respect of invitation pertaining to series III, potential investors have placed bids for Rs 1,800 crore (1.95 times) and the bank decided to exercise the green shoe option and retain the total amount of Rs 930 crore and allote...

    15 Jul 2016, 12.38 pm  |  Source: PTI

  • Canara Bank aims to keep gross NPLs below 10% this fiscal

    Canara Bank aims to keep gross NPLs below 10% this fiscal   

    Most of the NPAs have been recognized already and no surprises are expected in FY17 as far as stressed assets are concerned, says TN Manoharan, Chairman of Canara Bank.

    15 Jul 2016, 10.10 am  |  Source: CNBC-TV18

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