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Avendus Capital: An unlikely success story of a homegrown investment bank

Homegrown Avendus Capital has stitched up an unlikely success story making deals for tech cos.

Essar resolution to have significant impact on financial ecosystem: Satish Gupta, Essar's Resolution Professional

"The resolution of Essar Steel with realisation of more than Rs 42,000 crore has significant impact on financial ecosystem. With availability of funds and committed additional infusion of Rs 8,000 crore by ArcelorMittal, Essar Steel’s under-utilised productive asset can now operate at its optimal level of production and enhance capacity utilisation," the resolution professional of Essar Steel said.

Your 6-point guide to new card rules

Now you can switch on and off your debit or credit card, a move aimed at enhancing security for digital transactions. The facility is part of a new set of rules issued by the RBI to banks to improve user convenience.

UCBs asked to report exposures above Rs 5 crore

The central bank has issued detailed guidelines for reporting such exposure by UCBs to the CRILC (Central Repository on Information on Large Credits) every quarter. Banks need to submit the data on large exposures within 30 days from the end of the quarter through the XBRL reporting platform of the Reserve Bank of India (RBI).

Suspected big bank fraud cases to be vetted by panel before probe

The panel will function as the first level of examination for all alleged cases of fraud involving Rs 50 cr or more.

PMC Bank scam: SC stays HC order allowing shifting of HDIL promoters from jail to their residence

The Supreme Court on Thursday partially stayed the Bombay High Court order allowing shifting of HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, accused in the multi-crore Punjab & Maharashtra Cooperative (PMC) Bank scam case, from Mumbai's Arthur Road Jail to their residence.

Unsecured consumer loans grow most, credit card dues at Rs 1L crore

Unsecured loans are growing even as secured retail advances such as auto loans, loans against property (LAP) and home loans saw moderate rates of balance growth at 10.3%, 11.6% and 10.0%, respectively, according to TransUnion CIBIL’s Q2FY20 Industry Insights Report.

I-T asks ED to share details of its probe against Kochhars

At least four central agencies — the Ministry of Corporate Affairs and CBI, besides the ED and tax department — are probing the Kochhars and Videocon chairman Venugopal Dhoot, over alleged irregularities in certain loan deals between ICICI Bank and the industrial group when Chanda Kochhar was at the helm of the lender.

Govt asks banks to open 15,000 branches in FY21

The mandate from FinMin is to open a branch within 15 km radius of a place where there are no banks.

Indian Bank likely to retain its name after merger with Allahabad Bank

Some other non-anchor lenders in the mega merger exercise have also requested the government for new names and logo, unlike in the Bank of Baroda-Dena Bank-Vijaya Bank exercise, wherein the logos of all three lenders have been retained.

Bank unions call for two-day strike from January 31

Bank unions on Wednesday called for a two-day nationwide strike on January 31 and February 1 after talks over wage revision failed to make headway with the Indian Banks' Association (IBA). The United Forum of Bank Unions (UFBU), which represents nine trade unions, said they will also hold a three-day strike from March 11-13.

Making efforts to financially strengthen bank further: Yes Bank

Making efforts to financially strengthen bank further: Yes Bank

"All efforts are being made to financially strengthen the bank even further. Kindly, therefore, pay no heed to these unfounded reports," Yes Bank said. Last week, Uttam Prakash Agarwal, an independent director of Yes Bank resigned from the board and stepped down as head of its audit committee citing major corporate governance concerns.

BharatPe appoints Dhruv Bahl as Head of Operations

BharatPe appoints Dhruv Bahl as Head of Operations

The company said he will be responsible for overall operations across merchant acquisitions, servicing, payments, lending and commerce. Bahl has previously worked at Fortis, Bain & Company, PayTM and Airtel Payments Bank and Roadzen. The company, which was launched in 2018, raised a total of $65.5 mn in two rounds of funding last year.

Bank loan fraud: ED arrests 2 on money laundering charges in Hyderabad

Bank loan fraud: ED arrests 2 on money laundering charges in Hyderabad

The case pertains to the accused fraudulently availing loans, in connivance with others, from a consortium of banks and subsequent default of loans to the tune of Rs 1,768 crore, ED said in a statement said. "Investigation so far has unearthed 33 shell companies and more than forty contractors in this case," the ED said.

Suresh Kishinchand Khatanhar takes charge as deputy MD of IDBI Bank

Suresh Kishinchand Khatanhar takes charge as deputy MD of IDBI Bank

Suresh Kishinchand Khatanhar has exposure in retail banking business, priority sector lending, corporate banking (mid corporate and large corporate), service oriented functions such as trade finance and cross selling of various treasury products.

Piramal Capital raises Rs 1,400 crore to service debt, and for lending

Piramal Capital raises Rs 1,400 crore to service debt, and for lending

Piramal Capital & Housing Finance has raised Rs 900 crore from two public sector banks — United Bank of India and Bank of India — at 8.9% for five years and Rs 500 crore from IndusInd Bank for one year at 9% to meet the obligations.

BANKING STOCKS
NSE
BSE

Company NameLatestChange%ChangeVolume
HDFC Bank1278.15-9.5-0.748459407
ICICI Bank532.05-5.1-0.9518312609
Kotak Mahindra Bank1698.1-3.45-0.22295875
State Bank of India318-5.3-1.6458396326
Axis Bank739.92.60.357678864
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