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Lending to MSMEs can become Rs 15-trn business in next 5 years: Study

Of the total formal credit of around Rs 100 trn, only 25% is extended to MSMEs currently

PNB scam: Ex-MD Ananthasubramanian, named in CBI chargesheet, gets bail

Usha Ananthasubramanian was the MD & CEO of PNB before moving to Allahabad Bank, from where she was dismissed as MD & CEO on Aug 14

UK authorities confirm Nirav Modi's presence, CBI seeks extradition

On July 2, the Interpol had issued a Red Corner Notice (RCN) against Nirav Modi under money laundering charges levelled by the Enforcement Directorate

SBI charges for minimum balance during FY17 unreasonable: IIT-B report

For the month of April 2017, SBI recovered Rs 2.35 billion as penalty

Bank of India puts on sale 50 corporate NPAs with Rs 55.57 bn outstanding

The aim is to conclude the sale before the end of September to get the benefit of reduction in NPAs and better recoveries in the second quarter

From trade war to Turkey's lira crisis, factors that led to rupee's decline

Rupee bleeds on geopolitical and macro stress; breakdown 70 mark to hit lifelow Forex: The gusty rupee went into a tailspin and suffered one of its worst stretches in history - crashing mercilessly to breach the key psychological 70-mark to end at a l

Bad loans of listed domestic banks shrink by Rs 220 billion in Q1

Persistent efforts of recovery from a variety of loans - large-size, medium-size and small enterprises, retail and farm sector - are beginning to bear fruits

Banks set to get data rich with UPI 2.0; likely to boost credit scoring

The updated payments system comes with new features such as the ability for people to link their overdraft accounts to the UPI app

Public sector insurers lose market share to merger plan delay: Irdai data

Three insurers are yet to appoint a merger consultant, while private rivals are cornering the market

Icra downgrades long-term rating for Syndicate Bank's Basel-III bonds

The rating downgrade factors in the bank's weak financial performance

MPC minutes of RBI: Inflation fears, driven by oil prices, led to rate hike

The MPC members raised concerns about the risk to the inflation target due to the impact from MSP rise for crops, elevated crude prices and other factors

Here's how the rupee slump can complicate matters for Modi government

The 9.3% fall in the rupee this year has already led to a surge in local prices of goods with an imported component

Canara Bank to hire social media agency for customer outreach and promotion

The bank is looking for a social media service provider who can assist in creating and managing a strong social media presence

India Post Payments Bank launch by PM Modi on Aug 21 to be a grand affair

The IPPB, which has already been delayed by several months, is currently running pilot services in Raipur and Ranchi

Rs 900 mn Cosmos Bank fraud: NPCI says its systems 'fully secure'

The fraudulent transactions were carried out on August 11 and August 13 and the malware attack by the hackers originated in Canada

To tackle NPA problem, RBI puts 200 stressed bank accounts under scanner

Some of the accounts include Videocon, Jindal Steel and Power, the official added

NPCI blames Cosmos for the bank's Rs 940 million loss in Malware attacks

The Indian banking industry went in shudders on Tuesday after the Cosmos Bank admitted that it fell victim to an international group of hackers

India benefitting from weakness in emerging markets, says Citibank

Most investors remain worried over absolute returns, owing to rising interest rates, crude oil prices and upcoming elections, Says Citibank

Allahabad Bank posts Q1 net loss of Rs 19.44 bn due to high provisioning

Gross NPAs stood at Rs 250.67 bn at the end of June 2018, against Rs 210.32 bn in the year-ago period

PIL in Supreme Court against DVC-NVVN power supply to Bangladesh

Joshi alleges that domestic coal as well as the country's hydel resources cannot be used to generate power for exports

IDBI hikes marginal cost of funds based lending rate by up to 0.10%

For overnight and one-month tenor loans, the MCLR are increased by 0.05 per cent each to 8 per cent and 8.25 per cent respectively

Rupee breaches 70-mark against dollar, experts say volatility manageable

From the end of March 2018 to August 3, India's foreign exchange reserves were down by $21.84 billion to $402.70 billion

PNB fraud: Allahabad Bank says Ananthasubramanian ceases to be MD & CEO

State-owned Allahabad Bank today said Usha Ananthasubramanian no longer heads the bank following the Finance Ministry directive yesterday to remove her from the post. «We have to inform you that the Ministry of Finance, Department of Financial Service

Rupee hits record low of 70.08 a dollar, Turkey rout complicates RBI's job

A weaker currency complicates the central bank's job of keeping prices in check as it makes imports costlier

IDBI Bank posts Rs 24.10 bn loss in Q1, hurt by higher provisioning of NPAs

The total income of the bank for the quarter under review also declined to Rs 64.02 billion, as against Rs 67.03 billion a year ago

Allahabad Bank Q1 net loss at Rs 19 bn on higher provisioning for bad loans

Net NPA ratio, however, improved to 7.32 per cent (Rs 104.1 billion) as against 8.96 per cent (Rs 128.68 billion)

Cosmos Bank hit by Rs 940 mn cyber hack; probe finds Hong Kong as source

The unidentified hackers had executed money transfers on two separate occasions -August 11 and August 13- which raises the question of why pro-active measures were not taken on the first night itself

A new all-time low: Rupee at 70 a dollar now, but let us be reasonable

The present problem is ostensibly caused by the Turkey-US diplomatic imbroglio. Such issues can snowball into something more serious; so it will be difficult to guess when the issue will get resolved

PNB Fraud: Govt sacks Usha Ananthasubramanian as Allahabad Bank chief

Ananthasubramanian was MD and CEO of PNB between August 2015 and May 2017 and served as ED at the bank between July 2013 and November 2013

With falling rupee, rising interest costs ring alarm bells for India Inc

Many large companies and public sector banks and financial institutions are tapping the international markets to take advantage of the cheaper funds

Rupee crashes to all-time low of 69.91 against dollar on Turkish Lira shock

Lack of FII inflows and growing oil prices are also affecting the rupee

Sukthankar's exit not linked to search for my successor: Aditya Puri

Sukthankar was considered the most likely successor to HDFC Bank Managing Director Aditya Puri, who retires in October 2020

Outlook on Indian banks to stay negative over weak core capital: Fitch

Indian banks need to improve capital base against mounting bad debt and poor financial performance, Fitch said

RBI net seller of US dollar for 3rd straight month, sells $6.184 bn in June

During the reporting month, the central bank bought $4.020 billion of the US dollar, while sold $10.204 billion in the spot market

IndusInd names two additional directors, appointment effective from Aug 10

Akila Krishnakumar and Anil Tiwari are appointed as non-executive independent directors

Going digital: Banking apps still preferred choice over mobile wallets

This applies more to large value transactions, say experts

UCO Bank reports a net loss of Rs 6.33 billion in June quarter

The GNPA increased to about Rs 298 billion in the last quarter, against Rs 250 billion in the same period last financial year

Union Bank reports Rs 1.3 bn profit in Q1; net interest income up 17.1%

The bank's provision coverage ratio improved for the June quarter to 56.49 per cent, from 51.13 per cent in the same period last year

Top lender SBI eyes return to profitability in Q3 on easing bad loan impact

In the last quarter, SBI accounted for net mark to market losses on investments of Rs 58.93 billion
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