ICICI Bank & HDFC Bank lead the pack in digitization: Report
Performances of several high street lenders such as Bank of Baroda, Citi Bank, Kotak Mahindra Bank and Federal Bank were deemed ‘average’ whereas Deutsche Bank, Union Bank of India and Bandhan Bank were relegated to the ‘unsatisfactory’ category in MeitY’s scorecard.
Union Bank becomes 5th largest PSB post merger with Andhra Bank, Corporation Bank
The amalgamation will also strengthen the bank's footprint ...
Bank of Baroda rolls out mobile ATM in Mumbai
The lender is also planing to take the ATM to the business correspondent touchpoints or branch...
Keep status quo on asset classification: HC to banks
Hearing a case between Yes Bank and Anant Raj, the court said the company’s account should be counted as ‘standard’ and it must be permitted to avail of the moratorium even if it has missed payments, since the account was not classified as a ‘bad loan’ before March 1. Banks classify a loan as ‘bad’ if it is overdue for 90 days.
India reassures banks of capital infusion: Sources
New Delhi may need to make a provision of at least 200-250 billion rupees ($5.90 billion) for capital infusion in state-run banks. However, this number can increase significantly as the situation evolves, the officials said.
Assam unit of the All India Bank Officers’ Confederation opposes banks' normal functioning amid Covid outbreak
“The Government should not lose sight of the plight of these unsung warriors of the economic ecosystem of our country who toils hard at every occasion to power our economy and build our nation. I request the Government to ponder over the issue with alacrity," he All India Bank Officers’ Confederation statement read.
PSB banks merger: 10 banks to bear the name of 4 anchor banks
The government has also decided to follow the Bank of Baroda-style branding where all the merging bank logos will be displayed for higher customer recall. For example, Indian Bank which is the anchor bank for its merger with Allahabad Bank will retain the name. Its new brand identity will carry the logo of both the banks, chief executive Padmaja Chunduru said.
Covid lockdown: HDFC Bank deploys Mobile ATMs across India
The mobile van carrying the ATM piloted in Mumbai & Noida, with plans to extend the service to the rest of the country shortly. The locations for deployment are being identified in consultation with local municipal authorities in respective cities, the bank said.
Chief executives of Oriental Bank of Commerce, United Bank of India designated as OSD in PNB
The merger of PNB with OBC and UBI has created the country's second largest state-owned bank with Rs 7.7 lakh crore advances. OBC chief executive Mukesh Kumar Jain, who is now in PNB will be retiring in July. UBI chief executive Ashok Kumar Pradhan will be retiring at the end of May from PNB.
Banks and manufacturing companies look at significant deferred tax asset hit on financials
Companies may have to write off tax assets in absence of projected profits. In the April-June quarter, several companies may be impacted because they are unable to set off deferred tax assets against payable taxes, industry trackers said. Deferred tax assets are set-off against future projected profits every year.
View: India can’t count on banks to lead virus recovery
The weakest link in the Indian economy is its banking sector. This has been the case for some time.
All branches of Oriental Bank of Commerce, United Bank of India start functioning as PNB branches
State-owned Punjab National bank on Wednesday said all nation-wide branches of United Bank of India and Oriental Bank of Commerce has started functioning as PNB branches.
IndusInd Bank records meagre 4% deposit growth
Out of the total deposits 34 per cent was contributed by retail and small business customers. It’s CASA ratio stood at 40.5 per cent at the end of March 2020, which was at 43.1 per cent in March 2019 and 42.4 per cent at the end of December. The bank had recently said that it saw a tenth of its deposits flow, as one major state-government withdrew its liabilities.
Customers won't face any disruption post Allahabad Bank merger: Indian Bank
The merger is part of the government's mega consolidation plan to amalgamate 10 state-run banks to create four global-sized lenders, beginning next financial year.
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