Maha govt suggests merger of troubled PMC Bank with MSC Bank
The PMC Bank has been put under restrictions by the RBI, after an alleged Rs 4,355 crore scam came to light following which the deposit withdrawal was initially capped at Rs 1,000, causing panic and distress among depositors. At least eight depositors, who had high quantum of money stuck with the bank, died in the last couple of months, including one who committed suicide.
PMC Bank depositors' worries to be taken up with RBI: Minister
Punjab and Maharashtra Cooperative (PMC) Bank, over a long period of time, had...
No job losses post merger of 10 PSBs: Government
In August, the government announced a mega plan to merge 10 public sector banks into four wi...
Axis Bank evaluating the acquisition route to scale up microfinance business
Axis Bank managing director and chief executive Amitabh Chaudhry said the bank has studied the market but has not found a perfect match yet. "We are evaluating opportunities all the time," he said, adding that the microfinance firms, which are doing well and can be a good fit, are mostly overvalued. "Nothing is on the cards at present."
Merger of three RRBs to form Baroda UP Bank
The government has notified amalgamation of regional rural public sector banks — Baroda Uttar Pradesh Grameen Bank, Kashi Gomti Samyut Gramin Bank and Purvanchal Bank — into a single regional rural bank, Baroda UP Bank.
After Market: YES Bank nosedives; Dish TV, Voda Idea jump; 37 stocks hit 52-week highs
India VIX, the measure of volatility, dived 8.01 per cent to 13.14 during the day.
Maharashtra government wants PMC Bank to merge with MSC Bank
"The government stands behind the PMC Bank depositors. I have spoken with the MSC Bank director and asked him to consider a merger of the two banks to provide relief to the depositors," Patil told mediapersons here this afternoon. He assured that the state's apex cooperative banking entity.
Credit crisis is easing for safest corporate borrowers
Policy makers have been fighting to prevent debt markets from seizing up.
Capri Group buys into Lakshmi Vilas Bank
A holding of 5 per cent or more in a private bank requires the approval of RBI.
PSB consolidation may shrink IT firms' business
The country will be left with only 12 large public sector banks from 27 before, the government had announced earlier this year. For existing IT service providers, this not only shrinks the market in terms of the number of prospective clients, but also poses challenges with respect to scale as banks become larger. A reduction in the number of prospective customers will affect revenues.
U.S. Fed approves merger between BB&T, SunTrust Banks
Analysts have said such a tie-up has been made possible by regulatory easing under the administration of President Donald Trump, which has encouraged banking regulators to take a more relaxed approach to approving mergers, bank applications and enforcement of post-crisis rules.
SoftBank to create $30 bln tech giant with Yahoo Japan, Line Corp merger
The deal, which would combine the providers of two of Japan's top QR code payment services, offers SoftBank access to 164 million Line users and their data in Japan and Southeast Asia as it expands into services outside its core wireless business. It also offers Line a deep-pocket patron who can offer its tech expertise, including potentially via the giant Vision Fund.
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.
HR integration to be prioritised for merger: Indian Bank chief Kolkata
In a meeting of Allahabad Bank and Indian Bank in the city on Wednesday, she told executives, staffs and officers of both the banks that the amalgamation of two banks is aimed at bringing about "scale of operations and qualitative exposure in different areas for employees and improvement in economy and country at large".
Axis Bank more than doubles loan provisions for troubled sectors
The bank is maintaining a standard asset provisioning of 1 percentage point for bad loans in such sectors, as against the regulatory provision of 0.40 per cent, its executive director Rajiv Anand told .
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