Sixty percent of Bank of Maharashtra's total exposure of Rs 12,000 crore is to HFCs while about Rs 400 crore is exposed to microfinance institutions
Total income of the bank during the second quarter of 2019-20 rose to Rs 3,295.91 crore, as against Rs 3,192.80 crore in same period of last year, the bank said in a regulatory filing.
The move by the two employee unions is largely a protest against the recent mergers of 10 public sector banks (PSBs)and the dipping rates on deposits, they said a joint statement.
The details of the news portal and Twitter handle are informed to authorities, the filing said.
Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 16.5 points gain or 0.15 percent. Nifty futures were trading around 11,277-level on the Singaporean Exchange.
The benchmark one-year marginal cost of funds based lending rate (MCLR) will now be priced at 8.40 percent with effect from October 8, 2019, the bank said in a regulatory filing.
The bank's board and shareholders approved setting off accumulated losses of Rs 7,360.29 crore as of March 31, 2019, against the balance lying in share premium account and revenue reserve account of bank as on date of set-off.
The bank has already linked the housing loan interest rate with repo rate, it added.
Bank of Baroda, Bank of India, Indian Overseas Bank and Union Bank of India were fined Rs 1.5 crore each, while Allahabad Bank and Bank of Maharashtra were penalised Rs 2 crore each. Oriental Bank of Commerce was penalised with Rs 1 crore, the RBI said.
The incident reportedly took place at 12.30 pm. No casualties have been reported so far
Bank of Maharashtra received a tax refund of Rs 343.3 crore in Q1 against Rs 43.5 crore in same period last year.
The decision was taken at the bank's annual general meeting held on June 27, 2019.
The bank said it will raise Rs 3,000 crore by way of preferential allotment of shares to the government, financial institutions or by way of qualified institutional placement, further public offer or rights issues or bonds.
Overall pattern setup suggests that trend could remain intact while decline could be bought to continue its upward journey, experts said.
The Pune-based BoM reduced its one-year marginal cost of funds-based lending rate (MCLR) to which most of the bank lending rates are linked, to 8.70 percent from 8.75.
The capital infusion was done on March 30, 2019.
The Kohinoor Education Trust owes nearly Rs 16 crore to Bank of Maharashtra, Rs 38.63 crore to State Bank of India and Rs 13.18 crore to Bank of India.
Videocon Industries and its promoter Venugopal Dhoot and P N Dhoot are guarantors to Unity Appliances, as per the public notice put out by BoM.
The Reserve Bank further said Rs 20 lakh fine each on HDFC Bank, IDBI Bank and Kotak Mahindra Bank for non-compliance with various directions on Know Your Customer (KYC) norms and Anti-Money Laundering (AML) standards.
The rate cut is only for the loans with six-months tenor, while it has been left unchanged in four other time categories including the one-year MCLR.
There are risks looming in the form of delayed loan recovery and power sector defaults
While Oriental Bank of Commerce has been removed from PCA, RBI has clarified that the government has infused sufficient capital in the entity, bringing net NPA to less than 6 percent.