BUSINESS
IDBI Bank NPAs could become LIC's non-performing investment, employee unions warn govt
Banking and insurance sector employee unions also warned it could eventually lead to privatisation of the bank and resultant job losses.
BUSINESS
IDBI Bank will get LIC's money, but what more will it need to turn around?
Optimists see the bank's performance turning around in as early as one year, but others believe it will take 3-4 years for LIC to affect a proper turnaround
BUSINESS
Will LIC be able to turnaround IDBI Bank?
IRDAI has given its nod to LIC to hold upto 51 percent stake in IDBI Bank
BUSINESS
ICICI Bank board appoints Girish Chandra as non-executive chairman
The appointment of the new chairman comes at a time when ICICI Bank is battling one of its worst management crises.
BUSINESS
Rupee may apply brakes if it breaks 70/$, say experts
Most of them see the rupee trading in a range of 67-69 for the foreseeable future, or recovering to that range quickly after falling to around 70.
BUSINESS
IDBI Bank real estate assets could make or break LIC deal
LIC is looking to acquire real estate assets of IDBI Bank as part of the majority stake acquisition process.
BUSINESS
With new law in the works, bankers renew hopes of recovering dues from Mallya
Of the total dues, the consortium of 17 banks led by SBI have so far recovered around Rs 400 crore, barely five percent the total outstanding
BUSINESS
Gross NPAs at banks may rise to 12.2% by March 2019, says RBI's financial stability report
Top 100 large borrowers accounted for 15.2 percent of gross advances and 26 percent of gross NPAs of the commercial banks.
INDIA
PM Modi bats for more investments from AIIB, says India is investor-friendly
He called upon the Beijing-headquartered bank to quadruple its financing to reach $40 billion by 2020 and escalate it 25 times to $100 billion by 2025.
BUSINESS
Senior FinMin official says police action in Bank of Maharashtra case technically incorrect
Even when the central government needs to take action against a state government official, the permission of the state government is needed, a senior finance ministry official said.
BUSINESS
Big push for infra projects: AIIB to invest $1.4 billion in India, says Piyush Goyal
On challenges related to land acquisition pertaining to infrastructure projects, Goyal said that he doesn't see stress in acquiring land if it can be availed by consent
BUSINESS
Bankers extend support to arrested Bank of Maharashtra officials, raise debate of pressure on state banks
Since earlier this year, many bankers have had to go through multiple rounds of questioning following scams in the sector.
BUSINESS
ICICI Bank gets third whistleblower complaint on irregularities, incorrect accounting
Since 2016, this is the third whistleblower complaint the bank has received for alleged impropriety in giving loans
BUSINESS
Bankers worry over arrest of Bank of Maharashtra CEO, want Govt to intervene
IBA will also ask the government to consider an insurance cover for bankers for the costs incurred on fighting such cases after their retirement
BUSINESS
Bank of Maharashtra's future plans in jeopardy after top officials get arrested
The bank has now become the latest entrant in a growing list of lenders without leaders
BUSINESS
SBI Managing Director B Sriram to head IDBI Bank for 3 months
Sriram has been working as the MD (Corporate and Global Banking) in SBI since July 2014.
BUSINESS
RBI MPC meet minutes: Common man seems to be experiencing inflationary pressure
At its policy meet in June, the MPC also revised its inflation forecast to 4.8-4.9 percent for the first half of FY19 and to 4.7 percent for the second half
BUSINESS
Bank of Baroda relying on AI, blockchain and robotics to scale up business
Technology has helped reduce costs, which in turn help the bank manage even low balance accounts.
BUSINESS
Can Sandeep Bakhshi help ICICI Bank get a makeover?
While many see him as an outcome-oriented leader who achieves financial numbers with calm nerves, Bakhshi has also experienced his share of controversy relating to mis-selling of insurance policies
BUSINESS
Chanda Kochhar may have stepped aside at ICICI but her shadow looms large
ICICI Bank's Board created a new position of a Chief Operating Officer (COO) overnight, to be occupied by Sandeep Bakhshi, who will report to CEO & MD Chanda Kochhar
BUSINESS
ICICI Bank in damage control mode, appoints former SC judge to probe Chanda Kochhar's role
An enquiry panel will probe allegations of corporate misconduct and quid pro quo against Kochhar, the Managing Director and CEO of the bank.
BUSINESS
HDFC Bank's Aditya Puri takes 10.5% cut in fixed salary for FY18, earns Rs 2.64 lakh a day
As per provisions of the Income Tax Act, Puri's salary for FY18 was Rs 7.26 crore, as against the Rs 8.12 crore he was paid in 2016-17
BUSINESS
Lone bidder looking to exit, IDBI Bank may have to restart IDBI Federal Life stake sale
Max Life had last week withdrawn its bid for IDBI Federal Life Insurance, after lenders refused to meet conditions put forth by the bidder
BUSINESS
RBI hikes interest rate, what's in store for next policy and growth ahead?
ICRA's principal economist Aditi Nayar says the Monetary Policy Committee’s (MPC) surprise decision wisely hedges before the crucial data on monsoon, minimum support prices (MSP) and volatile global oil prices play out going forward.
