Banks & institutions
Finance minister wants banks to tame lending rates
19 Nov 2024
Public sector banks in India have overcome the challenges posed by rising non-performing assets and declining profitability, but at a great cost to the borrower, finance minister Nirmala Sitharaman has said.
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New central scheme to facilitate guarantee-free loans for higher education
10 Nov 2024
The union cabinet has approved a new scheme under which the Department of Higher Education will facilitate education loans to over 2.2 million students
Supreme Court orders liquidation of Jet Airways as debt resolution fails
08 Nov 2024
The Supreme Court on Thursday ordered the liquidation of Jet Airways in view of the failure to implement the debt resolution plan under some "peculiar and alarming" circumstance.
StanChart India sells Rs4,100-cr personal loan portfolio to Kotak Mahindra Bank
20 Oct 2024
Standard Chartered Bank, India (StanChart) is selling around Rs4,100 crore ($490 million) of outstanding personal loans to Kotak Mahindra Bank Ltd (KMBL).
RBI keeps policy repo rate unchanged at 6.5% with focus on inflation
10 Oct 2024
The Monetary Policy Committee (MPC) of the Reserve Bank of India, at its meeting on Wednesday, decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent.
Sabadell shareholders accuse BBVA of worsening its bid with modified offer
04 Oct 2024
Shareholders of Spanish bank Banco Sabadell have accused its larger peer BBVA of “worsening” the takeover offer by announcing a modification to the original bid offer, undervaluing the bank further.
Sabadell shareholders accuse BBVA of worsening its bid with modified offer
04 Oct 2024
Shareholders of Spanish bank Banco Sabadell have accused its larger peer BBVA of “worsening” the takeover offer by announcing a modification to the original bid offer, undervaluing the bank further.
PNB raises Rs5,000 cr from institutional investors to bolster capital
30 Sep 2024
Punjab National Bank (PNB) has raised Rs5,000 crore through allocation of around 481.9 million shares to qualified institutional investors, the state-owned lender said on Friday.
GoFirst’s creditors vote for liquidation of the airline report
06 Aug 2024
The Committee of Creditors (CoC) overseeing the debt resolution process of insolvent carrier Go First decided to vote for liquidation of the airline as the committee could not make any headway 15 months
BNP Paribas to acquire AXA’s fund business for $5.5bn
05 Aug 2024
French banking group BNP Paribas is in exclusive talks with insurer AXA to acquire AXA Investment Managers, in a deal worth €5.1 billion ($5.5 billion).
IDBI Bank privatisation now hinges on RBI approval report
28 Jul 2024
The union home ministry has given necessary security clearance to potential investors in IDBI Bank and the Reserve Bank of India
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RBI issues new directions to banks for recovering money lost in frauds,
18 Jul 2024
Reserve Bank of India (RBI) has issued new directions to banks and other regulated entities to ensure that money lost through fraudulent transactions is recovered and not written off as non-performing asset (NPA).
Punjab & Sind Bank to expand with 100 new branches
10 Jul 2024
State-owned Punjab & Sind Bank plans to expand operations across the country with 100 new branches during the current financial year, reports cited its managing director Swarup Kumar Saha as saying.
Axis Bank invests additional Rs336-cr in Max Life, raises stake to 19.99%
20 Jun 2024
Axis Bank, India’s third-largest private sector lender, has acquired additional equity shares of Max Life Insurance Company worth Rs336 crore
Axis Bank invests additional Rs336-cr in Max Life, raises stake to 19.99%
20 Jun 2024
Axis Bank, India’s third-largest private sector lender, has acquired additional equity shares of Max Life Insurance Company worth Rs336 crore
Spain's BBVA expanding digital banking business to Germany
20 Jun 2024
BBVA, Spain's second largest bank after Santander, which successfully rolled out its digital banking services in Italy, is planning to extend its digital services to Germany as well.
Spanish banks BBVA and Sabadell weigh $12.93 bn all-stock merger
07 May 2024
Spanish bank Sabadell on Monday said it is considering a proposal by larger peer BBVA for a Euro 12 billion ($12.93 billion) all-stock merger that would create the largest banking company in Spain.
And now, BRICS eyes creation of a central bank for currency issue
06 May 2024
China, with backing from Russia and South Africa, is planning an onslaught on the mighty dollar by introducing a new currency, to be issued by a proposed BRICS central bank that would combine the strengths of the respective currencies of the five countries in the economic forum.
RBI asks lenders to be fair and transparent in dealing with borrowers
30 Apr 2024
Reserve Bank of India (RBI) has asked lenders to be transparent in their dealings with borrowers and show fairness while charging interest on loans, even as they enjoy complete freedom in the pricing of loans.
Aditya Birla Capital to merge subsidiary Aditya Birla Finance
12 Mar 2024
The boards of directors of Aditya Birla Capital Ltd and its wholly-owned subsidiary, Aditya Birla Finance, have approved a scheme of amalgamation of the two companies to create a larger non-banking finance company (NBFC).
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RBI directs Paytm Payments Bank to stop onboarding new customers
01 Feb 2024
Reserve Bank of India (RBI) on Wednesday directed Paytm Payments Bank Ltd (PPBL) to stop onboarding of new customers with immediate effect, for failure to comply with audit rules.
Sitharaman asks banks to review practices to improve performance
01 Jan 2024
Finance minister Nirmala Sitaraman has asked public sector banks to focus on healthy lending practices, so as to prevent bank frauds and wilful defaults, especially by corporate borrowers.
PNB plans to raise Rs7,500 crore via QIP or FPO
31 Dec 2023
The board of directors of Punjab National Bank (PNB) at its meeting on Thursday approved a proposal to raise Rs7,500 crore capital through equity issue
SBI, Bank of Baroda raise term deposit rates
31 Dec 2023
Public sector lenders State Bank of India (SBI) and Bank of Baroda (BoB) have announced a hike in interest rates on fixed deposits varying from 50 to 125 basis points
RBI directs banks to stop charging penal interest
31 Dec 2023
Reserve Bank of India (RBI) has directed banks to stop charging penal interest rates on delayed loan repayments
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