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Loan outreach: PSBs disburse Rs 2.5 lakh crore in October

Under an outreach programme, public sector banks disbursed as much as Rs 2.53 lakh crore in one month.

Stress in rural households and loan defaults create woes for microfinance sector in Assam

Various organisations in the upper part of the northeastern state have joined the chorus seeking an inquiry into the operation of microfinance lenders as several micro borrowers are said to be exposed to high debt. Reports of unrest have come from various districts of Assam. Indebtedness of micro borrowers in Assam is more than double the national average.

SBI admits to making many poor commercial decisions

Speaking at an event organised by former Sebi chief M Damodaran here on Thursday, Arijit Basu, a managing director at SBI, also conceded that the bank has erred on some business decisions and cannot attribute those to social compulsions.

CSB Bank to open 425 branches in 5 years

MD and CEO C V Rajendran said the bank with majority of branches in Kerala and Tamil Nadu will increase its presence in key geographical locations such as Maharashtra, Gujarat, Andhra Pradesh, Punjab, Telangana and Karnataka. `

PSU banks disburse Rs 2.52 lakh crore loans in October

The government in September had asked state-run banks to step up lending and hold outreach programmes or loans melas in 400 districts to lend to desirable shadow banks and retail borrowers. An amount of Rs 1.05 lakh crore was fresh lending, the Department Financial Services said in a statement.

Bank unions to stage dharna before Parliament on Dec 10

In August, the government announced its plan to merge 10 public sector lenders into four to create fewer and stronger global-sized ban.

View: Haircuts for Indian finance — bald or bold? Signs from the DHFL case

Whether an overworked IBC salon can deliver the equivalent of a 10-minute trim is the biggest question now.

Paytm's Vijay Shekhar Sharma cautions customers of scam messages and emails

A huge number of Paytm user have already approached the company’s cyber cell and RBI's ombudsman.

Bank credit grows by 8.07%, deposits 9.92%: RBI data

Bank deposits in the fortnight ended November 8 increased by 9.92 per cent to Rs 129.98 lakh crore from Rs 118.257 lakh crore year ago, RBI data showed. Deposits had grown by 10.25 per cent to Rs 129.78 lakh crore in the fortnight ended October 25.

Essar Steel verdict: What's next for bankruptcy law?

India's insolvency resolution framework has truly arrived after a tortuous journey of three years. Banks will finally be able to keep out unscrupulous promoters with the law establishing the primacy of financial lenders on asset proceeds. ET's Saloni Shukla reports. (Text: ET Bureau)

Only machines do the talking at Federal Bank hiring process now

Only machines do the talking at Federal Bank hiring process now

FedRecruit relies on a series of connected events or data points and goes beyond the conventional one-sided resume to construct a 360-degree narrative of the candidate. These data points are gathered through multiple stages--robotic interviews, psychometric and game-based assessments processes etc., Federal Bank HR chief Ajith Kumar KK said.

Pramit Jhaveri, who brought scale to Citi India, retires early

Pramit Jhaveri, who brought scale to Citi India, retires early

The 56-year-old Jhaveri had joined the Wall Street major as a management associate way back in 1987, and had a steady rise to become vice-chairman of banking, capital markets and advisory for Asia Pacific earlier this year, after heading the India operations for almost a decade between 2010 and 2019.

NCLAT rejects DBS Bank's plea challenging distribution of funds from Ruchi Soya resolution plan

NCLAT rejects DBS Bank's plea challenging distribution of funds from Ruchi Soya resolution plan

DBS Bank has extended financial debt amounting to USD 50 million (around Rs 243 crore) to Ruchi Soya and had secured as a sole first charge on fixed assets of the debt-ridden firm at Baran, Guna, Daloda, Gadarwara, Mumbai and Kandla. During the insolvency proceedings, RP had admitted claims of Rs 242.96 crore of DBS Bank.

Bankruptcy law comes of age

Bankruptcy law comes of age

India’s insolvency resolution framework has truly arrived after a tortuous journey of three years. Banks will finally be able to keep out unscrupulous promoters with the law establishing the primacy of financial lenders on asset proceeds.

Public Sector Banks reported frauds of over Rs 95,700 cr in Apr-Sep

Public Sector Banks reported frauds of over Rs 95,700 cr in Apr-Sep

Government owned banks reported frauds of over Rs 95,700 crore in the first six months of the current fiscal, the Parliament was informed on Tuesday. "According to Reserve Bank of India (RBI), frauds as per year of reporting, as reported by Public Sector Banks (PSBs), during the period from April 1, 2019 to September 30, 2019 is 5,743 involving a total amount of Rs 95,760.49 crore," Finance Minister Nirmala Sitharaman said in the Rajya Sabha.

RBI tells court how it was 'cheated' by scam-hit PMC Bank

RBI tells court how it was 'cheated' by scam-hit PMC Bank

The affidavit states that PMC Bank had submitted fraudulently manipulated data to RBI for sample checks.

BANKING STOCKS
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Company NameLatestChange%ChangeVolume
HDFC Bank1264.75-18.6-1.453843905
Kotak Mahindra Bank1569.1-26.15-1.641862434
ICICI Bank496.8-1.45-0.2918462401
State Bank of India329.3-2.05-0.6228974967
Axis Bank732.1-5.3-0.724889676
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