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March 2018

February 2018

January 2018

PNB fraud case: Blue Corner notice issued against Nirav Modi, Mehul Choksi
2018-02-28

A Blue Corner notice was issued on Wednesday against diamond jeweller Nirav Modi and his uncle Mehul Choksi of Gitanjali Group in connection with the Rs 12,600-crore Punjab National Bank (PNB) fraud case, an official said.

Please Refer - http://www.financialexpress.com/industry/banking-finance/pnb-fraud-case-blue-corner-notice-issued-against-nirav-modi-mehul-choksi/1083861/

PNB Fraud case: Auditor arrested, Cabinet likely to discuss tighter norms
2018-02-28

Perturbed over the spate of banking frauds, the Union Cabinet is likely to consider tomorrow measures to strengthen the regulatory regime for auditors to prevent such incidents in the future.

Please Refer - http://www.financialexpress.com/industry/banking-finance/pnb-fraud-case-auditor-arrested-cabinet-likely-to-discuss-tighter-norms-for-auditors/1083879/

Finance Ministry’s order to Public Sector Banks: Scan NPAs over Rs 50 crore for fraud
2018-02-28

PNB has now revealed that additional letters of undertakings (LoUs) worth Rs 1,251 crore were issued illegally to Gitanjali group of companies prompted by jeweller Mehul Choksi, thus taking the size of the fraud detected so far to Rs 12,656 crore.

Please Refer - http://www.financialexpress.com/industry/finance-ministrys-order-to-public-sector-banks-scan-npas-over-rs-50-crore-for-fraud/1082379/

Big development in Nirav Modi PNB case; CBI questions Allahabad Bank CEO & MD; scam now close to USD 2 billion
2018-02-28

The CBI today questioned the CEO and the MD of Allahabad Bank Usha Ananthasubramanian in connection with the Punjab National Bank (PNB) fraud allegedly involving billionaire jewellers Nirav Modi and Mehul Choksi, officials said here.

Please Refer - http://www.financialexpress.com/industry/banking-finance/big-development-in-nirav-modi-pnb-case-cbi-questions-allahabad-bank-ceo-scam-now-close-to-usd-2-billion/1082085/

Finance Minister Arun Jaitley: Target of lending Rs 11L cr to farmers in FY19 achievable
2018-02-27

The volume of institutional credit for agriculture is projected to rise from Rs 8.5 lakh crore in 2014-15 to Rs 10 lakh crore in 2017-18.

Please Refer - http://www.financialexpress.com/industry/banking-finance/finance-minister-arun-jaitley-target-of-lending-rs-11l-cr-to-farmers-in-fy19-achievable/1080734/

If PSBs in bad shape after govt pumped in Rs 1.2 lakh cr since FY11, they need to be sold
2018-02-27

After Rs 58,000 crore was infused into public sector banks under the Indradhanush plan since FY16—and another Rs 66,624 crore from FY11 to FY15—it is not just the government, but the Opposition parties that need to seriously ask whether India needs public sector banks. More so since, over the next two years, the government plans to pump in another Rs 211,000 crore into these very banks.

Please Refer - http://www.financialexpress.com/industry/banking-finance/if-psbs-in-bad-shape-after-govt-pumped-in-rs-1-2-lakh-cr-since-fy11-they-need-to-be-sold/1081733/

Finance Ministry gives public sector banks 15-day deadline for pre-emptive plan to combat risks
2018-02-27

Financial Services Secretary Rajiv Kumar said today that public sector banks (PSBs) have been given a 15-day deadline to take "pre-emptive" action for identifying gaps and to gear up for rising operational and technical risks, as the scam in the PNB widened to Rs 12,700 crore.

Please Refer - http://www.financialexpress.com/industry/banking-finance/finance-ministry-gives-15-day-deadline-to-public-sector-banks-for-identifying-risks/1081614/

Watch: FinMin puts out list of 9,500 'high risk' NBFCs
2018-02-26

The Financial Intelligence Unit (FIU) under the finance ministry has released a list of nearly 9,500 non-banking financial companies (NBFCs) which have been categorised as 'high risk financial institutions'. The list released by FIU-India on its website shows the names of NBFCs which have been categorised 'high risk' and found non-compliant to the Prevention of Money Laundering Act (PMLA) rules as on January 31.

Please Refer - https://economictimes.indiatimes.com/industry/banking/finance/watch-finmin-puts-out-list-of-9500-high-risk-nbfcs/videoshow/63078816.cms

Capital First gets NHB nod for merger with IDFC Bank
2018-02-20

Capital First today said the regulator National Housing Bank (NHB) has approved the merger of the company along with Capital Home Finance and Capital First Securities Limited with IDFC Bank.

Please Refer - https://economictimes.indiatimes.com/industry/banking/finance/capital-first-gets-nhb-nod-for-merger-with-idfc-bank/articleshow/63004079.cms

HDFC open to organic, inorganic growth: MD Renu Sud Karnad
2018-02-20

HDFC Ltd Managing Director Renu Sud Karnad today said the company is open to both organic and inorganic growth. Replying to a media report that HDFC was in discussion to acquire health insurance company Apollo Munich, Karnad told PTI, "Partners of Apollo Munich and the partners of ours are the same and there is nothing as yet.

Please Refer - https://economictimes.indiatimes.com/industry/banking/finance/hdfc-open-to-organic-inorganic-growth-md-renu-sud-karnad/articleshow/63003830.cms

Union Bank Has $300 Million Exposure In PNB Fraud Case
2018-02-16

State-run Union Bank of India on Thursday said that it has an outstanding exposure of about $300 million in the $1.8 billion fraud detected by Punjab National Bank (PNB) and the former was also confident of receiving the payment.

Please Refer - http://profit.ndtv.com/news/banking-finance/article-union-bank-has-300-million-exposure-in-pnb-fraud-case-1813622

SBI’s total provisioning is just Rs 1,705 crore less than HDFC Bank’s net interest income
2018-02-12

State Bank of India's total provisioning is just Rs 1,705 crore less than the net interest income of HDFC Bank. Earlier on Friday last week, SBI reported a net loss of Rs 2,416.37 crore. We take a look at Q3 performances of State Bank of India and HDFC Bank at glance.

Please Refer - http://www.financialexpress.com/industry/banking-finance/sbis-total-provisioning-is-just-rs-1705-crore-less-than-hdfc-banks-net-interest-income/1063274/

15 months after note ban, RBI still processing returned notes
2018-02-11

The RBI has said that Rs 500 and Rs 1,000 notes, returned to banks when the government demonetised high value currency 15 months ago, are still being "processed for their arithmetical accuracy and genuineness".

Please Refer - http://www.financialexpress.com/industry/15-months-after-note-ban-rbi-still-processing-returned-notes/1061696/

SBI swings into massive loss of Rs 2,416 crore as bad loans surge to 5.61% in third quarter
2018-02-09

India's biggest lender the SBI Group on Friday reported a massive loss of Rs 2416.37 crore on the standalone basis and Rs 1,886.57 crore on the consolidated basis for the December quarter of current fiscal as its bad loans surged to a high of 5.61% of the advances.

Please Refer - http://www.financialexpress.com/industry/banking-finance/sbi-swings-into-massive-loss-of-rs-2416-crore-as-bad-loans-surge-to-5-61-in-third-quarter/1060085/

Bank of India invites bids for sale of a large NPA portfolio
2018-02-06

In a bid to counter bad loans, Bank of India has initiated a host of measures including putting on sale large non performing asset (NPA) portfolio. Bank of India has put 54 accounts with outstanding of Rs 2,166 crore for sale.

Please Refer - http://www.financialexpress.com/industry/banking-finance/bank-of-india-invites-bids-for-sale-of-a-large-npa-portfolio/1054463/

Union Bank plunges to Rs 1250 cr loss on higher NPA provisions
2018-02-03

Front-loading of provisions for the NCLT accounts led state-run Union Bank of India today report a net loss of Rs 1,250 crore in the December quarter as against a net profit of Rs 104 crore a year ago.

Please Refer - http://www.financialexpress.com/industry/banking-finance/union-bank-plunges-to-rs-1250-cr-loss-on-higher-npa-provisions/1049784/

Domestic loan growth will continue to be above 15%, says ICICI Bank’s MD & CEO Chanda Kochhar
2018-02-01

ICICI Bank on Wednesday reported a 32% year-on-year (y-o-y) rise in provisions in Q3 FY18. In an interaction with reporters, the bank’s MD and CEO Chanda Kochhar said provisions will remain at an elevated level because the bank still has to make provisions for the next round of NCLT cases and for ageing as well.

Please Refer - http://www.financialexpress.com/industry/banking-finance/domestic-loan-growth-will-continue-to-be-above-15-says-icici-banks-md-ceo-chanda-kochhar/1038903/

 


       

 





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