Bank of Baroda tumbles into red with Rs 1,407-cr net loss on higher provisions
Erstwhile Dena and Vijaya banks were merged into BoB effective April 2019 and profit last year has been consolidated to reflect the amalgamated entity.
CBI registers case against Delhi based firm, Radikal Foods
The FIR says that an alleged loss of Rs. 819.48 crore(approx) as on April 1, 2018 ...
CBI files 6 charge sheets against Zoom Developers in Rs 558-crore bank frauds
The company diverted loan funds and did not complete projects f...
Senior citizens dread idea of bank mergers
According to a banker with SBI, senior citizens find it most difficult to deal with change. They get worked up emotionally, and changes like a new branch, travelling a few more kilometres can prove traumatic.
CBI accuses Mumbai jeweller of causing Rs 568 cr loss to banks
The CBI has registered a case against Mumbai-based P&S Jewellery and three of its directors, one of them a former director of All India Gem & Jewellery Domestic Council, for allegedly causing a Rs 568 cr loss to a consortium of eight banks including SBI, Union Bank, BoB, Andhra Bank, Vijaya Bank, Central Bank of India, Canara Bank & Syndicate Bank .
Banks Board Bureau recommends names for heading 3 state-owned banks
The Bureau recommends the following candidates, in order of merit, for the position of the MD & CEO in Bank of Baroda, Canara Bank and Bank of India, BBB said in a statement. The decision on the appointment will be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. PM Modi, in 2016, approved the constitution of BBB
Bank of Baroda integrates 30,000 employees of Vijaya, Dena Banks in 7 months
To begin with, BoB brought the entire set-up under a four-tier structure that it originally had, created more zones and regions, and adopted a unified reporting structure. “This exercise we did in April helped smoothen the other business processes and systems that had to be aligned,” said Roy.
Over 3,400 branches of 26 PSBs closed or merged in last 5 years: RTI
To a query under the Right to Information (RTI) Act, the Reserve Bank of India (RBI) informed that 26 PSBs of the country either closed or merged 90 branches during FY 2014-15, 126 branches in 2015-16, 253 branches in 2016-17, 2,083 branches in 2017-18 and 875 branches during 2018-19. Of this, 75 per cent of the affected branches belong to SBI.
Economy needs surgery, government is applying balm: Congress
Addressing a press conference here, Congress spokesperson Gaurav Vallabh also said the GST structure should be reformed, and the MGNREGA schemes should get more funds.
BoB hopes to save Rs 9,500 crore from merger
The bank has identified 537 branches out of which 345 will be merged with each other and 192 will be relocated.
Merged entity of PNB, Oriental Bank of Commerce and United Bank of India may follow a SBI-like structure
“We intend to finalise all these administrative strategies in the next six months so that the merged entity can focus on business from the very beginning,” Pradhan told ET.
BoB seeks to sell Dena Bank headquarters in Bandra for over Rs 530 cr
The auction will be held on October 18.
PNB board to consider Rs 18,000 crore capital infusion this week
It comes against the backdrop of the government's announcement on August 30 about merging 10 public sector banks into four entities
Big bank mergers positive, but anchor lender stocks to take a knock: Analysts
The banking consolidation will result in the merger of 10 banks into 4 banking behemoths.
BoB to use some money from FinMin to bring capital to pre-merger level: PS Jayakumar
Merger process to pick up faster momentum as we go into the next quarter.
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