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RBI reaffirms Rana Kapoor's successor to be appointed by Feb 1: Yes Bank

The private sector lender's appointed committee is targeting to complete the recruitment process latest by mid December 2018, it added
Finance

RBI reaffirms Rana Kapoor's successor to be appointed by Feb 1: Yes Bank

The private sector lender's appointed committee is targeting to complete the recruitment process latest by mid December 2018, it added

Danske Bank drops plan to appoint CEO after regulator questions experience

Denmark's largest bank is looking for a new leader after Thomas Borgen was ousted last month as the group struggles to deal with a $235 billion money laundering scandal
Finance

Danske Bank drops plan to appoint CEO after regulator questions experience

Denmark's largest bank is looking for a new leader after Thomas Borgen was ousted last month as the group struggles to deal with a $235 billion money laundering scandal

Rupee strengthens by 6 paise to 73.42 against US dollar in early trade

Forex dealers said weakness in the dollar against some currencies overseas and a higher opening of domestic equity markets gave some support to the rupee
Finance

Rupee strengthens by 6 paise to 73.42 against US dollar in early trade

Forex dealers said weakness in the dollar against some currencies overseas and a higher opening of domestic equity markets gave some support to the rupee

RBI issues e-wallet interoperability advice: How it will alter the industry

Enables money transfer between wallets in first phase, with banks in second and through cards in third; 4-5 wallet players already in a testing phase
Finance

RBI issues e-wallet interoperability advice: How it will alter the industry

Enables money transfer between wallets in first phase, with banks in second and through cards in third; 4-5 wallet players already in a testing phase

More embarrassment for crippled IL&FS as Ind-Ra downgrades its MF schemes

Crippled IL&FS group faced Tuesday more embarrassments after India Ratings downgraded its various mutual fund schemes and placed them on a rating watch negative (RWN). The agency downgraded three series-1, three series- 2 and two series -3 mutual fund sc
Finance

More embarrassment for crippled IL&FS as Ind-Ra downgrades its MF schemes

Crippled IL&FS group faced Tuesday more embarrassments after India Ratings downgraded its various mutual fund schemes and placed them on a rating watch negative (RWN). The agency downgraded three series-1, three series- 2 and two series -3 mutual fund schemes of the group, "due to the deterioration in the underlying portfolio quality of the schemes due to its exposure to IL&FS group entities. The RWN reflects absence of clarity on the resolution of the above referred assets in the portfolio due to the poor financial profile of the sponsor group, which IL&FS, it said. All IL&FS IDF schemes generally have an exposure of around 23.55 per cent in group companies --IL&FS Solar Power and IL&FS Wind Energy, whose credit profile has weakened. IL&FS and its group companies are facing liquidity crisis and had defaulted on debt repayments. The rating agency said the ratings do not factor in the expectation of the default risk for the scheme itself, as a

CVC shares report on top 100 bank frauds with RBI, ED and CBI

The analysis focussed on the modus operandi, amount involved, type of lending loopholes that facilitated perpetration of the fraud concerned and the systemic improvements required to plug the gaps
Finance

CVC shares report on top 100 bank frauds with RBI, ED and CBI

The analysis focussed on the modus operandi, amount involved, type of lending loopholes that facilitated perpetration of the fraud concerned and the systemic improvements required to plug the gaps

Federal Bank's Q2 net profit rises 0.9% on higher interest income

Net profit was Rs 2.66 billion ($36.08 million) in the quarter ended September 30, compared with Rs 2.64 billion a year earlier
Finance

Federal Bank's Q2 net profit rises 0.9% on higher interest income

Net profit was Rs 2.66 billion ($36.08 million) in the quarter ended September 30, compared with Rs 2.64 billion a year earlier

PSBs facing another muted quarter due to NPA provisioning, funding costs

While NPA ageing and mark-to-market losses will keep provisioning elevated, high funding cost and slower credit growth will impact topline
Finance

PSBs facing another muted quarter due to NPA provisioning, funding costs

While NPA ageing and mark-to-market losses will keep provisioning elevated, high funding cost and slower credit growth will impact topline

ICICI Bank gets RBI clearance to appoint Sandeep Bakhshi as its MD and CEO

Facing enquiry over the charges of nepotism and conflict of interest, ICICI Bank's former MD and CEO Chanda Kochhar had quit the bank on October 4
Finance

ICICI Bank gets RBI clearance to appoint Sandeep Bakhshi as its MD and CEO

Facing enquiry over the charges of nepotism and conflict of interest, ICICI Bank's former MD and CEO Chanda Kochhar had quit the bank on October 4

IndusInd Bank posts muted 4.5% Q2 profit growth due to ILFS provisioning

Lender takes a one-time contingent provision hit of Rs 2.75 billion against exposure to IL&FS group; without this provision, its profit would have grown 25%
Finance

IndusInd Bank posts muted 4.5% Q2 profit growth due to ILFS provisioning

Lender takes a one-time contingent provision hit of Rs 2.75 billion against exposure to IL&FS group; without this provision, its profit would have grown 25%

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