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

Categories RBI

Banks Board bureau suggested 3 heads for state owned banks

The Banks Board Bureau (BBB) has  suggested names of Sanjiv Chadha, L V Prabhakar and Atanu Kumar Das for the post of managing director and chief executive officer (MD & CEO) of three different state lenders — Bank of Baroda, Canara Bank and Bank of India. Banks Board Bureau has selected them on the basis … Read more Banks Board bureau suggested 3 heads for state owned banks

EOW arrested two auditors for PMC Bank scam

On Monday, The Economic Offences Wing (EOW) arrested two auditors which were connected with the  PMC Bank scam and will produce them in court to seek their remand. 5 more auditors were also arrested earlier for the same scam. “Jayesh Dhirajlal Sanghani and Ketan Pravinchand Lakdwala were called for investigation at office of the Economic … Read more EOW arrested two auditors for PMC Bank scam

Transfer Policy Should not put employees at unease: Minister

Union Minister of State for Finance and Corporate Affairs Anurag Singh Thakur has requested public sector banks “to form such HR policies that transfer and other policies do not put employees at unease.” At an event in Mumbai on Monday to mark the 101st Foundation Day of Union Bank of India, which is going to … Read more Transfer Policy Should not put employees at unease: Minister

External commercial borrowings increased by 50%

External commercial borrowings (ECB) of Indian companies have increased by 50% in the six months ended 30 September from a year ago. This is all because of the cheaper overseas funds, easier overseas borrowing norms and weakened local banks. In the first 2 quarters of FY20,  the corporates borrowed $24.3 billion from overseas markets as … Read more External commercial borrowings increased by 50%