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Banking & Finance

Bank of Maharashtra strengthens ease of banking for customers; launches several new products

Bank of Maharashtra strengthens ease of banking for customers; la...

Fri, Apr 07, 2023

Visa International Debit Card is new edge contactless card which will work on all tap & pay device, across India and abroad, which can be availed without any joining fees, bank said.

Banking, auto among top 5 sectors to lead next leg of rally, explains Ajit Mishra

Banking, auto among top 5 sectors to lead next leg of rally, expl...

Mon, Sep 20, 2021

Banking, financial and auto are yet to contribute to the rally, and we believe positive news such as improving economic recovery, better financial performance and the government's PLI scheme will be driving growth for the stocks in the sector, which in turn will drive the benchmark, Ajit Mishra, VP - Research, Religare Broking Ltd

Merchant Stack: ICICI Bank launches banking platform for merchants; check details here

Merchant Stack: ICICI Bank launches banking platform for merchant...

Thu, Apr 29, 2021

ICICI Bank has launched ‘Merchant Stack’ which is a set of the country’s most comprehensive digital banking services specially for retail merchants on Thursday, April 29.

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Yes Bank Share price today I Investec cuts target price to Rs 19

Yes Bank Share price today I Investec cuts target price to Rs 19

Thu, Mar 04, 2021

Yes Bank Share price today: Yes Bank reported standstill and SMA2 numbers which are in line with previous expectations of 6% slippages and 5% restructuring to fully account for the legacy and covid related stress. However, in addition to this, Yes Bank reported SMA1 of 5.7% (excl restructuring including above) which is inline with the system average and similar to peer banks (3-5% range).

Yes Bank Share price: After Q3 result, asset Quality back in focus, Elara Capital recommends Sell with a target price of Rs 6

Yes Bank Share price: After Q3 result, asset Quality back in focu...

Wed, Jan 27, 2021

Yes Bank share and target price: Elara Capital highlights that the new stress loans stood at 17% while outstanding stress stood at 39% for Yes Bank. PAT of Rs 1.5 bn in Q3 FY21 grew 16% QoQ but declined 101% YoY. While there was strong sequential growth in operating profit and deposits, asset quality deteriorated sharply. New standard stress loans including standstill NPLs, SMA1, SMA2 and restructured loans were uncomfortably high at Rs 282 bn or 17% of total loans in Q3 FY21 versus 5% in Q2 FY21.

Warning for bank account holders! Do this fast or you may be badly affected - check IDBI Bank notification

Warning for bank account holders! Do this fast or you may be badl...

Fri, Jan 22, 2021

If you are an IDBI Bank account holder and have not done your KYC, it is time you take this matter seriously. IDBI Bank has made a big announcement in this regard and it may prove to be very costly for bank account holders here.

Increase in nominal GDP reduces the stress on banks': Ashutosh Khajuria, Federal Bank

Increase in nominal GDP reduces the stress on banks': Ashuto...

Tue, Jan 19, 2021

Ashutosh Khajuria, Executive Director and CFO, Federal Bank, talk about expectations from the Union Budget 2021-22 and recapitalisation during an interview with Swati Khandelwal, Zee Business. Edited Excerpts:

Karnataka Bank's Capital Adequacy Ratio stands at 13.8%, says Mahabaleshwara MS, MD & CEO

Karnataka Bank's Capital Adequacy Ratio stands at 13.8%, say...

Wed, Jan 13, 2021

Mahabaleshwara MS, Managing Director & Chief Executive Officer, Karnataka Bank Ltd, talks about the Q3FY21 numbers, improvement in the asset quality, expected restructuring and recoveries among others during a candid chat with Swati Khandelwal, Zee Business.

RBI's MPC starts deliberation on policy rate

Wed, Dec 02, 2020

The Monetary Policy Committee (MPC) of RBI began its three-day deliberation on Wednesday here amid expectations that the central bank will maintain status quo on the benchmark lending rates in view of high retail inflation.

Punjab National Bank loan management solution to speed up deliver...

Tue, Dec 01, 2020

Punjab National Bank (PNB) on Tuesday launched a tech-based loan management solution called 'LenS-The Lending Solution', to speed up and maintain accuracy in online loan processing and sanctioning of credit proposals.

Bank Holidays in December 2020: Branches to be closed on 11 days in total – Check full list

Bank Holidays in December 2020: Branches to be closed on 11 days...

Tue, Dec 01, 2020

December is here! It’s almost surreal how this year has passed amid a raging pandemic. While most festivals like Diwali, Bhai Dooj, Guru Nanak Jayanti and other regional festivals like Chhath Puja are behind us, the last month of 2020 also has some holidays where the banks will remain closed.

Lakshmi Vilas Bank writes off bonds worth Rs 318 cr ahead of merg...

Thu, Nov 26, 2020

A day ahead of its merger with the Indian arm of Singapore-based DBS Bank, the debt-ridden Lakshmi Vilas Bank (LVB) on Thursday has written off bonds worth Rs 318.20 crore as per the existing provisions.

Lakshmi Vilas Bank shareholders compensation: Mumbai HC admits wr...

Thu, Nov 26, 2020

Lakshmi Vilas Bank shareholders compensation: Shareholders of the 94-year-old Lakshmi Vilas Bank (LVB) have started knocking the doors of justice for a fair valuation of their bank, the amalgamation of which takes effect from Friday onwards.

Lakshmi Vilas Bank moratorium ends on Nov 26; good news for accou...

Wed, Nov 25, 2020

Lakshmi Vilas Bank (LVB) moratorium period will come to an end on Thursday and normal banking operations would commence thereafter, RBI-appointed administrator T.N. Manoharan said. That means cap on cash withdrawals for bank account holders goes too.

Protection of Lakshmi Vilas Bank could be done without compromisi...

Tue, Nov 24, 2020

Swadeshi Jagran Manch has written to Shaktikanta Das Governor Reserve Bank of India, saying protection of the beleaguered Lakshmi Vilas Bank could be done without compromising national interests.

Major bank union oppose banking licences to industrial houses

Tue, Nov 24, 2020

The Indian banking sector`s largest union, the All India Bank Employees` Association (AIBEA), on Tuesday opposed the recommendations made by the Reserve Bank of India`s (RBI) Internal Working Group as they are "retrograde" and would endanger people`s money.

World No. 1! RBI Twitter handle is the most popular of them all - globally

World No. 1! RBI Twitter handle is the most popular of them all -...

Sun, Nov 22, 2020

The Reserve Bank of India's (RBI) Twitter handle achieved 1 million followers on Sunday, turning it the first central bank in the world to achieve the feat.

Capital needed for banking licence may be doubled if RBI accepts recommendations

Capital needed for banking licence may be doubled if RBI accepts...

Sat, Nov 21, 2020

To ensure that entities seeking private banks licence remained adequately capitalised to meet any eventuality, a Reserve Bank of India internal committee has recommended nearly doubling of the initial capital and net worth requirements to be eligible for getting a banking licence.

Lakshmi Vilas Bank Cash Withdrawal: Bank account holders on street, this is what they said

Lakshmi Vilas Bank Cash Withdrawal: Bank account holders on stree...

Wed, Nov 18, 2020

The RBI has allowed withdrawal up to Rs 25,000 till 16 December. Many customers fear a repeat of the PMC bank like situation. Lakshmi Vilas Bank employees have been reassuring the depositors that their money is safe with the bank. Zee Business’ Anurag Shah spoke with the customers who have accounts at LVB’s Borivali (Mumbai) branch

Lakshmi Vilas Bank share price hits 20% lower circuit after RBI puts bank under moratorium

Lakshmi Vilas Bank share price hits 20% lower circuit after RBI p...

Wed, Nov 18, 2020

Lakshmi Vilas Bank was added to the list of recent financial sector failures. The 93-year-old lender was placed under moratorium and is to be merged with DBS Bank India, after many quarters of weakening financials. This was in contrast to what happened with Punjab and Maharashtra Co-operative (PMC) Bank where depositors’ pain still continues.

Lakshmi Vilas Bank shareholders not to get anything, key manageri...

Tue, Nov 17, 2020

The shareholders of the 94-year-old Lakshmi Vilas Bank (LVB) may not be getting anything as per the Reserve Bank of India`s (RBI) draft scheme for its amalgamation with DBS Bank India.

RBI restricts withdrawals from Jalna-based Mantha Urban Coop Bank...

Tue, Nov 17, 2020

Reserve Bank of India on Tuesday imposed restrictions on withdrawals from Maharashtra-based Mantha Urban Cooperative Bank for six months.

Probe all officials, including of RBI, on Lakshmi Vilas Bank watc...

Tue, Nov 17, 2020

Finance Minister Nirmala Sitharaman should intervene in the Lakshmi Vilas Bank (LVB) issue and announce that it would be amalgamated with a public sector bank, the All India Bank Employees` Association (AIBEA) said on Tuesday.

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