Yes Bank falls 7pc after fraud revelation at CG Power
Mumbai, Aug 20 : Private lender Yes Bank fell nearly seven per cent during early trade on Tuesday, following revelations of corporate fraud at CG Power and Industrial Solutions. Yes Bank has a significant stake in CG Power and Industrial Solutions.
SBI waives processing fee on car loans in festival season
Mumbai, Aug 20 : State Bank of India (SBI), the country's largest lender, on Tuesday announced processing fee waiver on car loans during the upcoming festival season in a bid to boost car sales. The bank is also offering the lowest interest rate starting 8.70 per cent on car loans, with no escalation in interest.
Failed ATM transaction due to error shall not be counted as valid transaction: RBI
New Delhi , Aug 14 : The Reserve Bank of India (RBI) has issued orders clarifying that transactions which fail on account of technical reasons like hardware, software, communication issues, and non-availability of currency notes in the ATM, etc., shall not be counted as valid transactions for the customer and no charge shall be levied for the same.
Repo rate could touch 5 pc level by March 2020: SBI report
Mumbai , Aug 5 : The Reserve Bank of India (RBI) may cut repo rate by 25 basis points (bps) in its August 7 policy meet and further reduce it by 50 to 75 bps to achieve the level of less than or equal to 5 per cent by March 2020, according to State Bank of India's research report 'Ecowrap.'
SBI posts Q1 profit of Rs 2,312 cr on lower provisioning
Mumbai, Aug 2 : Riding on lower provisioning and improved asset quality, state-run State Bank of India SBI) on Friday reported a net profit of Rs 2,312 crore during the first quarter ending June against a net loss of Rs 4,876 crore during same period of 2018-19.
Axis Bank's Q1 net profit rises 95pc
Mumbai, July 30 : Lender Axis Bank on Thursday reported a rise of 95 per cent in its net profit for the first quarter (Q1) of 2019-20 on a year-on-year basis.
IOB's authorised capital increased to Rs 15,000 crore
Chennai, July 30 : The central government, after consultations with the Reserve Bank of India, has increased the authorised capital of Indian Overseas Bank (IOB) from Rs 10,000 crore to Rs 15,000 crore through a gazette notification.
ICICI Bank posts Q1 profit of Rs 1,908 crore
Mumbai , July 27 : Private sector lender ICICI Bank said on Saturday its profit in June quarter (Q1) stood at Rs 1,908 crore against a loss of Rs 120 crore in the year-on period due to healthy net interest income and improved asset quality.
PNB reports surprise profit of Rs 1,019 crore for June quarter
Mumbai , July 26 : Punjab National Bank (PNB) on Friday reported a net profit of Rs 1,018.6 crore for the quarter ended June 2019 (Q1 FY20) despite a marginal rise in non-performing assets (NPAs) against a net loss of Rs 940 crore in a year-ago period.
Bank of Baroda's consolidated Q1 net profit at Rs 710 cr
Mumbai, July 25 : State-run lender Bank of Baroda on Thursday reported a consolidated net profit of Rs 710 crore for the first quarter of 2019-20, against a net loss of Rs 49 crore in the corresponding period of the previous financial year.
Canara Bank net profit up 17 pc in Q1 FY20
Mumbai , July 24 : State-owned Canara Bank said on Wednesday its net profit in the April to June quarter rose 17 per cent year-on-year to Rs 329 crore due to improved asset quality and lower provisions.
Yes Bank meets Rare Enterprises, scrips gain but end lower
Mumbai, July 24 : Erasing early gains which came on the back of Yes Bank's disclosure to the bourses that its representatives met Rakesh Jhunjhunwala's firm Rare Enterprises on Monday, July 22, the scrips closed 1.71 per cent lower on Wednesday.
Ind-Ra downgrades IDBI Bank's rating outlook to negative
Mumbai , July 24 : India Ratings and Research (Ind-Ra) has revised IDBI's long-term issuer rating at IND A and short-term issuer rating at IND A1 besides changing the rating outlook from 'rating watch negative' to 'negative.'
Allahabad Banks reports 2nd fraud in a week
New Delhi, July 18 : In a major development that raises serious questions on Allahabad Bank's operation, the state-run bank has reported about being defrauded for the second time in just a week.
Yes Bank Q1 profit down 91 pc to Rs 114 crore
Mumbai , July 17 : Yes Bank said on Wednesday its first-quarter net profit dropped 90.97 per cent to Rs 113.76 crore during three months ending June 30 due to lower other income and higher provisioning.
Yes Bank's profits fall by 91pc on higher NPA provisioning
Mumbai, July 17 : Private lender Yes Bank reported a 91 per cent fall in its profit at Rs 113.76 crore down from Rs 1,260.36 in the comparable period last year while the percentage of gross NPA also rose nearly five fold to 5.01 from 1.31 last year.
NPA, NBFC crises not over yet: HDFC MD
New Delhi, July 16 : HDFC Bank's MD Aditya Puri on Tuesday said the crises in the non-banking financial companies (NBFC) and that OF high non-performing assets (NPA) are not yet resolved, and are being worked upon by stakeholders.
Yes Bank logs sharp gains, ends 12pc higher
Mumbai, July 16 : Private lender, Yes Bank on Tuesday logged sharp gain on the BSE over reports that the company is set to get capital infusion from a US-based private equity investor, however, the company termed it "speculative".
Bhushan Power fraud: Allahabad Bank down 11pc
Mumbai, July 15 : In reaction to the Rs 1,774.82 crore Bhushan Power and Steel Ltd (BPSL) fraud that Allahabad Bank reported in the weekend, its scrips fell by over 11 per cent during the early trade on Monday.
SBI waives NEFT, RTGS charges to boost e-transactions
Mumbai , July 12 : State Bank of India on Friday announced waiving charges on IMPS, NEFT and RTGS transactions through internet and mobile banking after the Reserve Bank of India decided to do so in a bid to move the country towards a less-cash economy.
Banks in big loss or under PCA to be barred from buying NBFC assets
New Delhi, July 12 : State-run lenders currently under the RBI's Prompt Corrective Action (PCA) framework on account of bad loans and heavily loss making banks may not be allowed to buy the pooled retail assets of non-banking finance companies (NBFCs) under the scheme announced in the Budget, official sources said, which may leave space for only SBI, Canara Bank, Bank of India, Bank of Baroda to make such purchases.
IOB to be in black in second quarter, says MD and CEO
Chennai, July 9 : Going for one-time settlement of non-performing loan accounts, focusing on auctioning seized mortgaged properties, increasing net interest income and net interest margin, and going after education loan defaulters are some of the focus areas for Indian Overseas Bank (IOB) to be back in black this year, its MD and CEO Karnam Sekar said on Tuesday.
SBI names 10 big 'wilful defaulters'
Mumbai, June 28 : The State Bank of India on Friday revealed the names of 10 new big-ticket firms from the pharmaceuticals, gems and jewellery and power sectors and also their top officials as it declared them 'wilful defaulters'.
UCO Bank targets Rs 8,000 crore recovery in FY20
Kolkata, June 26 : State-run UCO Bank, which is focusing on increasing retail, agriculture and Micro, Small and Medium Enterprises (MSME) business, is aiming at Rs 8,000 crore recovery from the non-performing asset (NPA) accounts during the current fiscal, an official said on Wednesday.
RBI penalises HDFC Bank for violating KYC norms
Mumbai , Jun 19 : The Reserve Bank of India (RBI) has imposed a fine of Rs one crore on private sector lender HDFC Bank for violation norms relating to know-your-customer (KYC), anti-money laundering and reporting of frauds.
IDBI Bank hopes to exit PCA framework this year: MD
New Delhi, June 13 : State-run IDBI Bank on Thursday said it expected to come out of the RBI's prompt corrective action framework (PCA) this year by lowering its net non-performing assets (NPAs or bad loans) level, which is the key benchmark for moving out of the PCA restrictions.