RBI cancels license of a Mumbai-based CKP co-operative Bank
On Saturday, the Reserve Bank of India announced the cancellation of a CKP Co-operative bank’s license to operate. The cancellation will come into effect from the close of business on…
As India’s economy slows down, frauds are on the rise
The latest annual report of the RBI has estimated the amount involved in frauds of above Rs.1 lakh in Indian banks’ at Rs.71,543 crores in 2018-19, up by 74% from…
Public Sector Banks disbursed Rs 2.5 lakh crore in loans in Oct : FM Sitharaman
As a part of the Massive outreach program by the government, the Public Sector Banks (PSBs) have disbursed over 2.53 lakh crore loans in October during the festive season. Finance…
Mamata Banerjee announces nation-wide protest against Disinvestment and Merger of PSUs
West Bengal Chief Minister Mamata Banerjee announced on Monday that Trinamool Congress will organize a series of nationwide protests against the Union government’s decision of disinvesting government organizations and PSUs…
Union FM Nirmala Sitharaman announces “big-gun” reforms for PSBs; amalgamates 10 PSBs into 4 banks
Union Finance Minister Nirmala Sitharaman addressed the nation at 4 pm on Friday. Speaking to the media, she announced a slew of reforms to streamline the economy and boost the…
PNB sells its stake in PNB Housing Finance for ₹1,851 crores
State owned lender-Punjab National Bank (PNB) is selling its stake in its housing finance arm, PNB Housing Finance to global private equity company General Atlantic and Varde Partners, bank said…
Supreme court refuses to put stay on merger of Dena, Vijaya and Bank of Baroda
The Supreme Court of India while hearing a plea flied by the bank officers association refused to put immediate stay on merger of three banks. The court was hearing an…
RBI penalizes PNB with ₹2 Crore for non-compliance of SWIFT norms
The Reserve Bank of India (RBI) imposed ₹2 Crore penalty on the state owned Punjab National Bank (PNB) for non-compliance of directions on Swift messaging software. Swift which stands for…
Jet Airways: Decision on funding carrier will be a collective decision says PNB CEO
Public sector Lender Punjab National Bank (PNB) on Wednesday said that any decision pertaining to infusion of funds to the liquidity crunched Jet Airways would be taken collectively by the…
RBI categorizes IDBI Bank as “private Sector Lender” with effect from 21 January
The Reserve Bank of India (RBI) on Thursday (14/03/19) categorized the IDBI Bank as the ‘Private Sector lender” after the acquisition lender by Life insurance Corporation (LIC). The central bank…