Mumbai, May 26 : YES Bank, India's 5th largest private sector Bank has received approval from The Cabinet Committee on Economic Affairs (CCEA) chaired by the Honorable Prime Minister Narendra Modi for increase in foreign investment limit to 74% without any sub-limits, including for investments by QFIs or FPIs under the Portfolio Investment Scheme (PIS) by acquisition of permissible securities on stock exchanges (except NRIs).
New Delhi, May 20 : An 'intermediate mechanism' is in the offing for resolution of non-performing assets (NPAs) of banks, Bank Board Bureau chairman Vinod Rai said here on Friday.
Chennai, May 20 : The strike by about 45,000 employees in five associate banks of the State Bank of India (SBI) was observed successfully on Friday, a top leader of All India Bank Employees' Association (AIBEA) said.
Chennai, May 20 : Global credit rating agency Moody's Investors Service on Friday said the merger idea mooted by State Bank of India (SBI) of six banks with itself would cost around Rs. 16.6 billion (USD 250 million) and will have limited impact on its credit metrics.
Mumbai, May 19 : The All India Bank Officers Association (AIBOA) on Thursday condemned the State Bank of India's "attempt to fast-forward mergers and acquisitions in the financial sector" by initiating process of mergers of its five associate banks.
New Delhi, May 19 : State-owned Syndicate Bank in a BSE filing today said that it will raise up to Rs 4,300 crore this fiscal through various instruments including Basel-III compliant bonds, rights issue and preferential allotment.
Thiruvananthapuram, May 18 : The employees of State Bank of Travancore (SBT), a subsidiary of the State Bank of India, on Wednesday expressed deep concern over the SBI's move to merge five of its subsidiaries with itself.
Mumbai, May 18 : Public sector lender Punjab National Bank (PNB) on Wednesday posted massive net loss of Rs.5,367.14 crore for the fourth quarter ended March 2016 caused by provisioning for bad loans.
New Delhi, May 18 : Punjab National Bank (PNB), which reported its latest March quarter earnings on Wednesday, posted a net loss of 5370 crore -- due to higher provisioning for bad loans -- the biggest quarterly loss in the history of Indian banking, according to media reports.
Bengaluru, May 17 : Higher provisions for bad loans and contingencies turned state-run Syndicate Bank into red, with a whopping Rs.2,158 crore net loss for fourth quarter of 2015-16 from net profit of Rs.417 crore in like period year ago on standalone basis.
Mumbai, May 17 : The State Bank of India board on Tuesday decided to submit a a proposal to the central government seeking an "in-principle approval" to initiate negotiations with its five associate banks, an official spokesperson said here.
Chennai, May 17 : Opposing the decision of boards of directors of five associate banks of State Bank of India (SBI) to close down and merge with SBI, the All India Bank Employees' Association (AIBEA) has called a strike on May 20.
Kolkata, May 16 : In view of rising non-performing assets of several banks, the private Bandhan Bank on Monday said it will be "choosy" in providing big ticket loans to sectors other than micro credit.
New Delhi, May 16 : Finance Minister Arun Jaitley on Monday said the banks have reached the peak of non-performing assets (NPAs) and now the "tapering process" is likely.
Kolkata, May 16 : Bandhan Bank reported a net profit of over Rs.275 crore over seven months and seven days of the fiscal 2015-16.
Chennai, May 14 : The All India Bank Employees' Association (AIBEA) hopes the government accept its demand to merge the five associate banks of State Bank of India (SBI) into one entity, said a top union official on Saturday.
Chennai/Kolkata, May 13 : It was bloodbath on the stock market on Friday the 13th for several government-owned banks as they posted huge losses or lower profits and ballooning bad loans.
Kolkata, May 13 : The eight-month-old Bandhan Bank has garnered deposits of over Rs.13,000 (USD 2 billion) crore and now cater to about 8.5 million customers, Managing Director Chandra Shekhar Ghosh said on Friday.
Mumbai, May 12 : Yes Bank has won multiple awards at The Asian Banker Banker's Choice and Asian Banker Transaction Banking Awards 2016 programme held in Vietnam.
Mumbai, May 12 : HDFC Bank Ltd., has appointed K. Balasubramanian as the Head of Corporate Banking. Designated Group Head - Corporate Banking.
Chennai, May 12 : Government-owned Bank of Maharashtra said on Thursday that its net profit for 2015-15 saw a drastic slide down to Rs.100.69 crore as against Rs.450.69 crore in 2014-15.
Mumbai, May 12 : ICICI Bank recently announced the launch of the country's first contactless business credit card in association with Jet Airways, for small and mid-sized enterprises (SMEs) and their employees.
Chennai, May 12 : Around 10 lakh bankers will go on strike on July 29 against the government's varied actions and inaction pertaining to the banking sector, said a top leader of All India Bank Employees'Association (AIBEA).
New Delhi, May 11 : Axis Bank, taking its Digital Banking initiatives a step forward, has launched 'eSign' for its customers. eSign is an online electronic signature service which facilitates an Aadhaar holder to digitally sign a document within seconds.
Kolkata, May 11 : In a bid to oppose the government's reform programme for the banking sector, all the nine bank unions on Wednesday called for a one-day strike on July 29, a top union official said on Wednesday.
Chennai, May 11 : Four banks - Indian Bank, Oriental Bank of Commerce, South Indian Bank and Kotak Mahindra Bank - on Wednesday declared contrasting results.
Chennai, May 11 : Private sector Kotak Mahindra Bank Ltd. on Wednesday said it closed the last fiscal with a net profit of Rs.2,089.78 crore.
New Delhi, May 7 : : IDBI Bank becomes the first public sector bank to open its IFSC Banking Unit (IBU) at India's first and only International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT). IDBI Bank is the youngest, new generation, public sector universal bank with its operations driven by a cutting edge core banking information technology platform.
Chennai, May 7 : Government-owned Andhra Bank on Saturday said it closed the 2015-16 financial year with a net profit of Rs.539.84 crore.
New Delhi, May 3 : Airtel M-Commerce Services Limited, a subsidiary of Bharti Airtel Limited, has been renamed as Airtel Payments Bank Limited after receiving necessary approvals from all concerned authorities.
Mumbai, May 2 : Housing Development Finance Corp (HDFC) on Monday reported a 30.76 percent rise in consolidated net profit at Rs.3,460.46 crore for the forth quarter ended March, as against Rs.2,646.35 crore in the same quarter of 2014-15.
Mumbai, May 2 : YES Bank here on Monday said the foreign funds investment limit in the country's fifth-largest private sector lender has been increased to 60 percent.
Chennai, April 29 : Private sector ICICI Bank on Friday said it closed last fiscal with a lower net profit as compared to the previous fiscal.
Ujjain, MP, Apr 22 : ICICI Bank Ltd inaugurated a branch at at Simhastha in Madhya Pradesh's Ujjain.
Mumbai, Apr 22 : India's second largest private sector bank by assets, HDFC Bank, reported its results for the quarter ended Mar 31, 2016, on Friday.
New Delhi, April 22 : HDFC Bank said on Friday that its net profit in 2015-16's fourth quarter surged 20.2 percent, to stand at Rs.3,374.22 crore compared to Rs.2,806.91 crore posted during the corresponding quarter in 2014-15.
Mumbai, April 22 : IndusInd Bank said on Thursday that it posted a rise of 25.25 percent in its standalone net profit for the quarter ending March 31, 2016, at Rs.620.35 crore against Rs.495.27 crore in the same period of 2014-15.
Bengaluru, April 19 : RBL Bank on Tuesday launched an exclusive bank here to cater to startups to offer a bouquet of products and meet the end-to-end needs of entrepreneurs.
New Delhi, Apr 12 : Federal Bank ties up with Chillar Payment Solutions Pvt. Ltd., a technology driven start-up company to promote the start-up's technology product - 'Campus Wallet'.
New Delhi, April 8 : Economic Affairs Secretary Shaktikanta Das on Friday said banks are expected to cut interest rates over the next few days following the recent repo rate cut by the Reserve Bank of India (RBI).
Mumbai, Apr 8 : Several bank stocks gained on Friday following the release of instructions on trading in Priority Sector Lending Certificates (PSLCs) by the Reserve Bank of India (RBI) on Thursday, according to reports.
Kolkata, April 5 : The seven-month-old Bandhan Bank already commands a business of Rs.27,000 crore already and is targeting a 30 percent growth this fiscal year, a top official of the bank has said.
New Delhi, March 31 : All designated branches of 'agency banks' will remain open till 8 p.m. on Thursday to help people pay their taxes on the last day of the financial year 2015-16, the Reserve Bank of India said.
Chennai, Mar. 31 : The Reserve Bank of India (RBI) will shortly put into circulation coins Rs. 10 denomination to commemorate the occasion of 125th birth anniversary of Dr. B.R.Ambedkar.
Chennai, March 30 : The All India Bank Employees Association (AIBEA) has called for a nationwide bank strike on May 25 in support of various demands, a union leader said on Wednesday.
Mumbai, Mar 30 : The Reserve Bank of India (RBI) said on Tuesday that it will soon put into circulation currency notes of one rupee denomination and the existing currency notes in this denomination in circulation will also continue to be legal tender.
Chennai, March 27 : The government is seeking to reduce its stake in IDBI Bank to less than 50 percent as a test case owing to the institution's peculiar employee profile, said a leader of the trade union that is calling for a four-day strike in the bank.
Chennai, March 25 : The decision to strike work for four days starting March 28 by some young officers in the IDBI Bank has put even seasoned bank union leaders in a spot, who stress that there is no split in the bank officers union.
Chennai, March 24 : Expressing concern over the functioning of public sector banks and appointments to top posts in such banks, union Finance Minister Arun Jaitley has said the government was making efforts to streamline the system.
Mumbai, March 21 : IDBI Bank employees' unions have called a four-day countrywide strike from March 28 to oppose the government's move to dilute its stake in the bank announced by Finance Minister Arun Jaitley while presenting budget 2016-17 last month.
Chennai, March 20 : With their huge bad loans and provisioning for the same affecting their profitability, India's banks may not reduce their lending rates in the near future following the slashing of interest rates on the small savings schemes, say experts.
Mumbai, Mar 16 : HDFC Bank Ltd., on Wednesday launched SmartUp, a first-of-its-kind dedicated solution for start-ups, to fulfill all their banking needs.
Mumbai, March 10 : The biggest public sector lender State Bank Of India on Thursday denied any laxity on the part of the consortium of banks in seeking reliefs against the defunct Kingfisher Airlines Ltd. (KFAL), its promoters and holding-associated company.
Mumbai, Mar10 : ICICI Bank on Thursday announced the launch of a credit-linked subsidy scheme for home loans under the 'Pradhan Mantri Awas Yojana'. Under this scheme, individuals including women borrowers from the economically weaker section and low income group will be able to acquire and construct the first brick-and-mortar (pucca) house of the family by paying significantly lower Equated Monthly Instalments (EMIs).
Mumbai, March 10 : Five fintech start-ups in artificial intelligence, quality assurance, mobile, and biometric payments domains were selected as winners of HDFC Bank Digital Innovation Summit, a company statement said here on Thursday.
Bengaluru, March 8 : Private lender Yes Bank on Tuesday launched an all-women operated bank branch 'Yes Grace' on Cunningham Road here aimed at offering customised banking solutions to women.
New Delhi, March 8 : A major change taking place in India's financial system is the greater responsiveness of the formal banking sector to the articulated needs of the population, the government said on Tuesday.
Haryana, Mar 7 : : ICICI Bank has signed a Memorandum of Understanding (MoU) with the Government of Haryana at the 'Happening Haryana Global Investors Summit 2016'.
Mumbai, Mar 7 : : ICICI Bank announced the launch of two key initiatives to help its women employees overcome challenges that many of them face at certain life stages.
New Delhi, Mar. 6 : The Central Bureau of Investigation has conducted searches at ten locations in the office, residential premises of certain persons at Delhi and other places in an on-going investigation of a case relating to alleged violation of banking norms in overseas remittance of foreign exchange.