Highlights

  • PFC extended 3 crores support for construction of Dr. KB Hegdewar School..

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  • New Delhi: NBCC signs MoU with ALIMCO to contribute 100.62 lacs..

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  • New Delhi: BDL received order of Rs 372.98 crore to supply MRSAM Missile..

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  • New Delhi: Market-Cap of all good PSUs stood 19.45 Lakh..

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  • New Delhi:GAIL honored with Golden Peacock Award..

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  • New Delhi: HSCC's agreement of worth 1,800 crore for upgradation medical projects..

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  • New Delhi: Capex utilisation in DFCCIL increased 21%-Railway Minister reviewed the progress..

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  • New Delhi: ISA announced Dr Ajay Mathur as its new Director-General..

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  • New Delhi: Shri Somnath Nandi assumed charge as Director - Technical, NMDC..

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  • New Delhi: BALCO CEO Shri Abhijit Pati recognised amongst most promising Business Leader of Asia 20-21..

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BANK NEWS

RBI cancels licence of United Co-operative Bank

New Delhi: The Reserve Bank of India on Thursday said it has cancelled the licence of United Co-operative Bank Ltd, Bagnan, West Bengal, as it does not have adequate capital and earning prospects.   Consequently, the bank ceases to carry on banking business, with effect from the close of

Posted Date :  14-05-21

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RBI appoints Shri Jose J. Kattoor as new Executive Director

New Delhi: The Reserve Bank of India has appointed Shri Jose J. Kattoor as Executive Director (ED) with effect from May 04, 2021.Prior to being promoted as ED, Shri Jose J. Kattoor was heading Bengaluru Regional Office of the Reserve Bank as Regional Director for Karnataka.Shri Kattoor has, over a s

Posted Date :  13-05-21

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RBI to auction govt securities worth Rs26,000cr on May 14

New Delhi: The Government has announced the sale (issue/re-issue) of three dated securities amounting to Rs 26,000cr. Further, the Centre also has the option to retain additional subscription up to Rs 6,000cr against the three dated security or securities.The auctions will be conducted by the Reserv

Posted Date :  13-05-21

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SBI's Padmakumar M Nair will be chief executive of NARCL

New Delhi: Padmakumar M Nair of State Bank of India (SBI) will be the chief executive of National Asset Reconstruction Company (NARCL), a proposed entity for taking over bad loans of lenders, predominantly public sector banks. NARC, also called a 'bad' bank, is expected to be operational in June 202

Posted Date :  12-05-21

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Regulations Review Authority of RBI sets up advisory group

New Delhi: The Regulations Review Authority of the Reserve Bank of India (RBI) has constituted an advisory group to support it.   The group will assist the RRA by identifying areas, regulations, guidelines and returns which can be rationalised and submit reports periodically to the RRA co

Posted Date :  08-05-21

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PSU Banks to take lead in creation of bad bank: SBI MD

New Delhi: State-run lenders will take a lead in creation of the bad bank, but the sick asset resolution platform needs the support of private banks and other lenders to be successful, State Bank of India Managing Director Swaminathan J said on Thursday. If all lenders come on board, the National

Posted Date :  07-05-21

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SBI allocates Rs 71 crore for fight against COVID-19

New Delhi: The country's largest lender SBI on Monday announced allocating Rs 71 crore towards the fight against COVID-19, a part of which will be used to set up a makeshift 1,000-bed hospital for the treatment of patients in some of the worst-affected states. State Bank of India (SBI) has

Posted Date :  04-05-21

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RBI governor Shaktikanta Das meets MD and CEOs of NBFC-MFIs

New Delhi: Shri Shaktikanta Das, Governor, Reserve Bank of India (RBI) held a meeting with the MD/CEOs of select NBFC-MFIs on Monday, May 3, 2021, through video conference. The meeting was attended by Deputy Governors Shri M. K. Jain, Dr. M.D. Patra and a few other senior officials of RBI.  

Posted Date :  04-05-21

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RBI imposed penalty of Rs 3 crore on ICICI Bank

New Delhi: The Reserve Bank of India has imposed a penalty of Rs 3 crore on ICICI Bank Ltd for contravention of certain directions, the Reserve Bank of India said on Monday. The RBI has imposed a monetary penalty of Rs 3 crore on ICICI Bank for "contravention of certain directions issued by

Posted Date :  04-05-21

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IDBI Bank net profit of Rs 1,359 crore for March 2021

New Delhi: LIC-controlled IDBI Bank turned profitable in the fiscal ended in March 2021 after five years, posting a net profit of Rs 1,359 crore for the year. In 2019-20, the lender had posted a net loss of Rs 12,887 crore. IDBI Bank is back in black after five years, said the lender.  

Posted Date :  03-05-21

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DCB Bank Ltd invests in equity of India INX and India ICC

Mumbai: DCB Bank Limited, a new generation private sector bank announced that it has acquired an equity stake in two companies based at Gift City IFSC at Gandhinagar. The Bank has invested a sum of Rs. 5 Crore representing approximately 2.89% of the post-paid up capital of India International Exc

Posted Date :  30-04-21

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RBI governor chaired 27th meeting of FSDC Sub-Committee

New Delhi: Shri Shaktikanta Das, Governor of Reserve Bank of India, chaired the meeting of the Sub-Committee of the Financial Stability and Development Council (FSDC) was held on Thursday, April 29, 2021, in virtual format.    The Sub-Committee undertook an extensive review of the ma

Posted Date :  30-04-21

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Indian Overseas Bank launches retails loans on Digital Platform

Chennai: Indian Overseas Bank has announced the launch of Retail Loans (home loan, personal loan & clean loan) on the digital platform. The launch was presided by Mr. Partha Pratim Sengupta, Managing Director & CEO, Indian Overseas Bank in the presence of Executive Directors Mr. A. K. Srivas

Posted Date :  29-04-21

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Allow debt recast for borrowers of NBFCs: FIDC to RBI

New Delhi: The Finance Industry Development Council (FIDC) has written to the Reserve Bank seeking restructuring of stressed retail and individual borrowers of non-banking finance companies, irrespective of whether these loans have been restructured earlier.   In a letter written to the R

Posted Date :  28-04-21

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HSBC profit rises 79% as vaccine rollout sparks cautious optimism

New Delhi: HSBC Holdings PLC reported better-than-expected quarterly profit and released $400 million it had set aside to cover pandemic-induced bad loans, as successful vaccine rollouts in the United States and Britain prompted a brighter economic outlook.   HSBC (HSBA.L) cautioned, howe

Posted Date :  27-04-21

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Banks may pay the dividend on equity shares from the profits: RBI

New Delhi: In view of the continuing uncertainty caused by the ongoing second wave of COVID-19 in the country, it is crucial that banks remain resilient and proactively raise and conserve capital as a bulwark against unexpected losses. Therefore, while allowing banks to pay dividends on equity share

Posted Date :  23-04-21

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Neobank Fi Launched in Partnership with Federal Bank

Chennai: 22nd April 2021, Bengaluru-based Neobank for salaried millennials Fi has announced its launch today. Fi was established with a strong purpose to help people get better with money and to create an intelligent bank layer that helps millennials understand their money, save more and spend intel

Posted Date :  22-04-21

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IOB appoints Digital Consultant for the Bank

Chennai: Indian Overseas Bank (IOB), as part of its growth strategy, intends to transform its banking services into a DIGITALIZED FORM with an aim to increase its  DIGITAL SHARE in the market. Towards achieving this goal, the Bank hasappointedM/s. Ernst & Young is a DIGITAL CONSULTANT. &

Posted Date :  22-04-21

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ICICI to hire more bankers to push investment banking

New Delhi: India’s second-largest private lender ICICI Bank Ltd. is making its biggest hiring push in investment banking and institutional equities in four years, as it anticipates a rise in companies going public. The Mumbai-based firm plans to add five mid-to-senior level hires in each

Posted Date :  20-04-21

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SBI puts NPA Account MSP Metallics Ltd for sale

New Delhi: SBI has put up for sale non-performing asset (NPA) account MSP Metallics Ltd against which a total of 10 banks have a collective loan outstanding of over Rs 1,493 crore. State Bank of India (SBI) has the highest share of lending (37.19 percent) to MSP Metallics amounting to Rs 555.51 cror

Posted Date :  17-04-21

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RBI set up Regulations Review Authority 2.0

New Delhi: The Reserve Bank of India had set up a Regulations Review Authority (RRA) initially for a period of one year from April 1, 1999, for reviewing the regulations, circulars, reporting systems, based on the feedback from the public, banks, and financial institutions. The recommendations of th

Posted Date :  15-04-21

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4.04 crores stolen from Axis Bank, Chandigarh branch

New Delhi: A security guard working at Axis Bank branch in Sector 34A of Chandigarh allegedly ran away with Rs 4.04 crores in cash, the police said on Sunday.   "The bank has informed at about 5.30 pm that cash Rs 4.04 crores are missing from the branch and they have full doubt

Posted Date :  13-04-21

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RTGS service will not be available on April 18

New Delhi: Reserve Bank of India on 12 April issues a notice to mention that due to a technical upgrade of RTGS, the services related to it will be closed on April 18, 2021.   The up-gradation is targeted to enhance the resilience and to further improve the Disaster Recovery Time of the R

Posted Date :  12-04-21

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RBI governor meets with MD & CEOs of Public Sector Banks

New Delhi: Shri ShaktiKanta Das, Governor of Reserve Bank of India (RBI) held meetings with the MD/CEOs of Public Sector Banks and select Private Sector Banks on April 12, 2021, through video conference. The meetings were attended by Deputy Governors Shri M. K. Jain, Shri M. Rajeswar Rao,

Posted Date :  12-04-21

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