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Banking

Oct 18, 2019, 00.29 AM IST
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PMC Bank crisis: Manmohan Singh appeals to PM Modi, FM, Maha CM to resolve grievances

Former prime minister Dr Manmohan Singh on Thursday appealed to Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman and Maharashtra Chief Minister Devendra Fadnavis to look into the Punjab and Maharashtra Co-operative (PMC) Bank matter and resolve the grievances of the "affected 16 lakh people." "It is very unfortunate what has happened in the case of this bank. I appeal to the Maharashtra Chief Minister, the Prime Minister and the Finance Minister to look into this matter and resolve the grievances of the affected 16 lakh people," Singh told media here.

Only 17% of banks have deployed digital at scale: Infosys Finacle

The report showed that while banks expect mobility, advanced analytics and open-banking APIs to impact their business the most in the coming year, most are not ready to apply these technologies to create expected business outcomes.

How safe do you think is your bank deposit?

The PMC Bank crisis saw a substantial portion of depositors’ money getting blocked with the bank. Many fear the worse is yet to come if the bank goes in for liquidation. So, how safe is your deposit in such a situation

Sell our assets to pay off PMC Bank's dues, Wadhawans write to RBI, agencies

The Wadhawans, who are the promoters of HDIL, have been accused of orchestrating the fraud at the Punjab and Maharashtra Cooperative Bank along with the bank's top management. The scam at the PMC Bank is worth Rs 4,355 crore.

For no fault of theirs, PMC depositors may be in default

Depositors could be tagged as defaulters if they fail to make repayments on loans.

RBI imposes Rs 3 crore penalty on SBM Bank

A scrutiny was carried out by RBI to examine the implementation of SWIFT related operational controls in SBM Bank (Mauritius) at its Indian operations, and it was observed that it failed to comply with certain provisions, the RBI said.

Slowdown in bank credit indicates a build-up of risk aversion in the system: SBI Report

Slowdown in credit offtake is an indication of a “ We believe though the sharp decline in credit flow to commercial sector do indicate heightened risk aversion in the system”, said S K Ghosh, group chief economist, SBI in a note.

Bank of Baroda executive directors to handle functions of MD, CEO

In a regulatory filing BOB said, the functions of MD, CEO will be performed by executive directors till the time govt appoints someone for the post. It is also to be noted that top posts are also vacant at PNB, Canara Bank and Bank of India.

Slowing Indian bank lending overshadows economic rebound hopes

Credit growth by banks had nearly halved to 8.8% at the end-September from the start of the year.

PMC Bank assures to protect depositors interest; meets RBI

PMC Bank's administrator meeting with Shaktikanta Das came after police authorities confirmed the death of one more depositor after Sanjay Gulati's death. The bank also assured of recasting its balance sheet to present a true and fair picture.

India's PCB had 'Worst Phase' under Manmohan Singh, Raghuram Rajan:  Nirmala Sitharaman

India's PCB had 'Worst Phase' under Manmohan Singh, Raghuram Rajan: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman has said that the Indian public sector banks had the "worst phase" under the combination of former Prime Minister Manmohan Singh and RBI Governor Raghuram Rajan.Delivering a lecture at the prestigious Columbia University's School of International and Public Affairs here on Tuesday, Sitharaman said that giving all the public sector banks a “lifeline” is today her primary duty.

Arundhati Bhattacharya calls for special cadre for compliance & risk management

Arundhati Bhattacharya calls for special cadre for compliance & risk management

Arundhati Bhattacharya's comments come at a time when banks' lending practices have been repeatedly put to question in many alleged scams, an increased attention from the regulator and investigating agencies and very high quantum of dud loans.

Indian public sector banks had "worst phase" under Manmohan Singh, Raghuram Rajan, says Nirmala Sitharaman

Indian public sector banks had "worst phase" under Manmohan Singh, Raghuram Rajan, says Nirmala Sitharaman

The Finance Minister while delivering a lecture at Columbia University's SIPA said that she respects former RBI governor Raghuram Rajan for his work but pointed out that loans were given based on phone calls during his tenure.

SBI seeks FinMin's intervention for DHFL resolution

SBI seeks FinMin's intervention for DHFL resolution

Lack of coordination is causing hurdles, SBI feels. The bank is worried about systemic risk if efforts to finalise the resolution plan do not go through. While NBFCs have taken a hit on their advances, banks have yet to mark such credit as NPAs.

SBI chief to ED/CBI:Keep off companies under IBC, go after promoters

SBI chief to ED/CBI:Keep off companies under IBC, go after promoters

Probe agencies should keep off the company which is under the insolvency process, the SBI chairman has said.

Centre not keen on staff representatives on bank boards: AIBEA

Centre not keen on staff representatives on bank boards: AIBEA

The All India Bank Employees' Association (AIBEA) has written to Finance Minister Nirmala Sitharaman stating that the Central government does not want its representatives on the boards of public sector banks.

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