Bankers Do not need not fear CBI, CAG and CVC: Finance minister- Nirmala Sitharaman

The fear of these three C’sc which is Central Bureau of Investigation (CBI), Central Vigilance Commission, (CVC) and the Comptroller and Audit general (CAG) is big on bankers and due to this, the Finance Minister, Nirmala Sitharaman told that there won’t be any harassment by the investigating agencies and thus, bankers should not fear them. … Read more Bankers Do not need not fear CBI, CAG and CVC: Finance minister- Nirmala Sitharaman

SBI Chief explained why bank can’t go beyond threshold limit

SBI Chairman Rajnish Kumar on Saturday said its not possible for banks to go beyond the threshhold to cut interest rates on deposits as there are not enough social security schemes in India. Also it is impossible for them to lend to corporates at lower rates as it would be risky for banks. Commenting on … Read more SBI Chief explained why bank can’t go beyond threshold limit

RBI defends the approval of termination of Chanda Kochhar

The Reserve Bank of India (RBI) told the Bombay High Court that the decision it took to grant approval to ICICI Bank for termination of appointment of Chanda Kochhar as MD and CEO was not ant arbitrary decision, and was fair. Last month, central bank files an affidavit in response to a Kochhar’s petition, challenging … Read more RBI defends the approval of termination of Chanda Kochhar

Finance Ministry asked agencies and Govt departemnents to continue with IDBI

Recently, Finance ministry has shown concern on IDBI bank as the Central and state departments are withdrawing deposits from IDBI Bank and also they are not giving fresh deposits to the bank. In such case, the finance ministry has adviced the departments and agencies to continue their business with the IDBI bank. Finance Ministry has … Read more Finance Ministry asked agencies and Govt departemnents to continue with IDBI

PSBs disbursed Rs. 2.39 lakh crore credit in the month of November: Finance Minister

Public sector banks have disbursed the credit of Rs. 2.39 lakh crores to non bank lenders, farmers to access the fund, said finance minister. Finance ministry told that in the month of October, many loan melas and outreach camps were organized in two phases in 374 districts in the country. All these were resulted into … Read more PSBs disbursed Rs. 2.39 lakh crore credit in the month of November: Finance Minister

PMC bank found another ghost account

Punjab and Maharashtra Cooperative (PMC) Bank has been in highlights due to the fraud these days. Now the investigators of the bank fraud have found another borrower — the Abchal Group — that concealed its identity through password-protected accounts, much in the manner of Housing Development and Infrastructure Ltd. All the ghost accounts are doubted … Read more PMC bank found another ghost account

Co op bank proposed Rs. 5 Lakh cover to deposits, risk based premium

The cooperative bank may have a good news for you. If you have deposits with the bank, you may get an insurance cover on the deposits too. Recently, one of the largest NGO in the cooperative sector has suggested a higher insurance cover on the deposits of Banks. It suggested banks to migrate to a … Read more Co op bank proposed Rs. 5 Lakh cover to deposits, risk based premium

Yes Bank is in Talks with Munjal and Kothari for 10% Stake each

Sunil Munjal, chairman of Hero Corporate Services Ltd, and Hemendra Kothari, veteran investment banker and founder of DSP Group, are in talks with the Yes Bank Ltd to buy the stakes of 5-10% each in the cash-starved private lender, three people aware of the matter said. As per the sources, both of these businessmen have shown … Read more Yes Bank is in Talks with Munjal and Kothari for 10% Stake each

HDFC will open 200 branches in North east region, hiring 2000 people

HDFC bank recently declared that it is going to increase its headcount by 50 per cent to 6,000 employees in the north-east (NE) region in the next 2-3 years to achieve its network expansion plans. In next one year, the bank is planning to hire 1500 people in Assam state as it has a plan … Read more HDFC will open 200 branches in North east region, hiring 2000 people

Banks may get incentives to extend loans of backward areas: RBI by GUV MK Jain

RBI Deputy Governor MK Jain on Wednesday propsed that the incentivising banks should extend loans to poor in backward areas in a bid to promote financial inclusion. In an event which was organised by the National Bank for Agriculture and Rural Development (NABARD), MK Jain said despite the growth which can be seen in formal … Read more Banks may get incentives to extend loans of backward areas: RBI by GUV MK Jain

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