State-owned United Bank of India (UBI) today said it has received Rs 608 crore capital infusion from the government.
The government on Thursday picked three economists from the academic world for a new monetary policy committee to set interest rates, as the Reserve Bank of India (RBI) gets ready for a landmark switch in the way it decides policy.
Union Bank of India has completed the acquisition of 49 per cent shareholding in Union KBC Asset Management Company and Union KBC Trustee Company from KBC Participants Renta and its affiliates.
The Securities and Exchange Board of India (Sebi) on Wednesday exempted the government from making an open offer pursuant to its acquisition of an additional 5.66 per cent stake in Dena Bank under its capital infusion plan.
The government should focus on making the banking system stronger and give the lenders independence to find their own solutions instead of stressing on mergers, industry body Assocham said in a report released here on Wednesday.
Citing reforms and steps taken towards ease of doing business, the Finance Ministry on Wednesday pitched for a rating upgrade with Moody's, while the US-based agency expressed concern over the state of bad loans in the banking sector.
State-owned Oriental Bank of Commerce (OBC) on Monday said it has raised Rs 1,000 crore, which will be added as Basel III-compliant capital.
SBI chairperson Arundhati Bhattacharya on Monday said the stressed assets level in the banking sector will come down once the key industrial sectors start functioning at their optimum capacity.
India's banking sector is moving past the worst of its asset quality down cycle, Moody's Investors Service said on Monday, although it warned that state-run banks' capital levels remain a key weakness.
Terming instances of banks depositing money to reduce the number of accounts with zero balances as not a criminal act, Reserve Bank of India Deputy Governor SS Mundra on Monday said such stray incidents should not distract from the larger cause of financial inclusion.
Having returned to his "ultimate home", former Reserve Bank of India Governor Raghuram Rajan has resumed his role as Distinguished Service Professor of Finance at the University of Chicago Booth School of Business and would teach international corporate finance there in winter of 2017.
The government is considering giving a one-year extension to State Bank of India chief Arundhati Bhattacharya amid the lender's consolidation with its associate banks.
Highlighting the importance of financial discipline, Union Finance Minister Arun Jaitley on Saturday said the non-performing assets (NPAs) issue is a result of "lack foresight of financial management".
State-owned Punjab National Bank has roped in Indian test skipper Virat Kohli as brand ambassador to improve its image which has taken a hit due to rising bad loans.
Describing the non-performing assets (NPA) or bad loans situation of public sector banks as still challenging, Finance Minister Arun Jaitley on Friday said "greater initiative" is needed by them in cases where it is difficult to find buyers or "alternative promoters" for assets that have accumulated bad loans.
Unfazed by the protests of bank unions, Finance Minister Arun Jaitley on Friday said the government will go ahead with the merger of associates banks and Bharatiya Mahila Bank with SBI as the proposal has been approved at the highest level by the Union Cabinet.
Finance Minister Arun Jaitley said 4 PSU banks are "investigating from their branches" whether money in some Jan Dhan accounts was deposited by account holders themselves or by business correspondents to keep the number of zero-balance accounts low.
Finance Minister Arun Jaitley said that if the economy recovers, banks may be able to "deprovision" some of the non-performing assets that are weighing on their balance sheets and curbing their ability to expand lending.
Private sector RBL Bank on Thursday said it has received approval from the NPCI for providing services under the Unified Payment Interface (UPI) platform.