IndusInd Bank denies takeover talks with Kotak Mahindra Bank
IndusInd Bank promoters, the closely knit Hinduja family, have been engaged in a battle over the family’s assets. 84 year old SP Hinduja, the eldest of the four brothers and his daughters Shanu and Vinoo want a 2014 letter signed by the brothers declared null and void.
Bank of Baroda, Accenture complete technology integration of former Vijaya Bank's branches
Accenture is now helping align former Dena Banks I...
Festival offerings: Axis Bank offers discount on debit, credit card purchases
The bank is also offering some key benefits to customers who ar...
Aditya Puri: A stickler who ensured a lot doesn't happen over coffee
While heading a foreign bank's operations in Malaysia in the early 1990s, Puri got an offer from Deepak Parekh of mortgage major HDFC to come back to India to start a bank in an economy which had shifted gears with a plethora of liberalising manoeuvres.
India must not neglect bank recapitalisation despite pandemic, says Viral Acharya
"If the government doesn't wish to recapitalise banks in a timely manner, then it must ensure that the contours of debt moratoria and forgiveness package aren't so generous that banks won't be in a position to lend well during the recovery phase, which is likely around the corner," Acharya said.
Government extends tenure of 3 executive directors of Canara Bank, Indian Overseas Bank
The extension has been given as per the notification of the Department of Financial Services, the Finance Ministry dated October 10, Canara Bank said.
Yes Bank lacked cost control; aim to cut operational expenses by 20% in FY21: CEO Prashant Kumar
The city-based lender is experiencing delays in loan recovery efforts as big defaulters are approaching courts, its new chief executive and managing director Prashant Kumar told PTI. Kumar was asked to lead Yes Bank in March after its rescue by a SBI-led consortium of lenders after alleged governance lapses under co-founder and chief executive Rana Kapoor.
Didn’t skip EMIs during lockdown? Get cashback from your bank
The government on Friday spelt out the details of the waiver of interest on interest on loans up to Rs 2 crore where borrowers had taken moratorium during the lockdown and also made it clear that those who didn’t opt for it will get an ex gratia payment or a cashback.
Kotak Mahindra Bank launches festive offers to woo borrowers
Kotak is offering customers attractive loan rates, loan processing fee waivers and quick online loan approvals on a range of retail and agri loan segments. Customers can avail special offers on other banking products including savings accounts, debit & credit cards and no-cost EMI payments.
Punjab and Sind Bank reports account of IL&FS Financial Services (IFIN) as fraud account to RBI
The scam at the IL&FS group came to light in September 2018 after several group entities defaulted on repayments due to severe liquidity problems. Later, the government superseded the board of directors to revive the ailing group.
Federal Bank expects spurt in NPAs in next two quarters if economic conditions do not improve
As against the usual rate of Rs 300-350 crore in fresh slippages per quarter, the number may go higher by over 30 per cent if the economy continues to be challenging, its managing director and chief executive Shyam Srinivasan told PTI.
Indian Bank follows SBI, sets up portal to restructure retail loans
“The requests will be registered with a unique reference number and through SMS, customers will be informed to visit their respective Indian Bank Branches with required documents for completion of restructuring process,” the public sector lender said in a statement.
Indian Bank inks MoU with Ministry, SIDBI for street vendors
Indian Bank MD and CEO Padmaja Chunduru said it is a privilege for the bank to associate with the scheme which is the flagship scheme of the government in line with Atmanirbhar Bharat.
Bank credit up 5.66 percent, deposits rise 10.55 percent: RBI data
In the previous fortnight ended September 25, 2020, bank credit had grown by 5.15 per cent to Rs 102.72 lakh crore and deposits rose by 10.51 per cent to Rs 142.64 lakh crore.
Digital adoption will improve return on equity for Indian banks: Morgan Stanley
The forecast reflects faster growth in retail and SME segments, increased cross-sell and faster product delivery and better risk-adjusted returns given greater data availability. Morgan Stanley believes that the stronger Indian banks are well placed to manage the increasing competition from the fintechs.