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Mumbai: The farmers in Maharashtra’s Parbhani district, in whose names a sugar mill fraudulently borrowed money from banks, would still be eligible for fresh loans, the state government assured today.
Farm loan waivers in three states have already started impacting most banks’ balance sheets with a rise in non-performing assets (NPAs) in the first quarter ending June this year.
New Delhi : As many as 12 public sector banks including PNB, Bank of India and Indian Bank have lined up plans for raising funds from markets to shore up their capital base to meet global risk norm, Basel III. About 6-7 lenders including Andhra Bank expect to close their capital raising plan by the end of the current fiscal, sources said. The remaining would raise funds through follow on public offer (FPO) or Qualified Institutional Placement (QIP) from the market during course of the next fiscal, they added.
Banking sector in this week was all about interest rate movements with the country’s largest bank State Bank of India cutting deposit rates on savings accounts for the first time and with the Central Bank cutting key policy interest rates to lowest in over 6 years.
Public sector lender Andhra Bank today posted a 14% rise in net profit at Rs 40.42 crore for the first quarter ended June even as bad loans increased. The bank clocked a net profit of Rs 31.09 crore in the same quarter of the previous financial year.
New Delhi: Public sector lender Andhra Bank on Friday posted a 14% rise in net profit at Rs40.42 crore for the first quarter ended June even as bad loans increased.
Around fifty companies including Andhra Bank, Apollo Tyres, Arvind, Chennai Petroleum Corporation, Berger Paints, Aban Offshore, Dabur India, Deep Industries, EID Parry, EIH Associated, GNFC, GSFC, Graphite India, Hindustan Petroleum Corporation, Indian Hotels, Kirloskar Oil, M&M, Repco Home Finance, RPG Life Sciences, Rico Auto, Monsanto, MRF, Sobha, TTK Healthcare, and Sundaram Brake Linings will announce their April-June quarter financials on Friday.
It has been decided that any future capital infusion in these banks shall be subject to achievement of select agreed upon milestones as per turnaround plan on quarterly basis, says MoS
As many as 10 state-owned banks including Bank of India, IDBI Bank, and Union Bank, have submitted their turnaround plans to the government, which is a pre-requisite for getting fund infusion, Parliament was informed on Tuesday.
There are increasing number of messages on WhatsApp and other social media platforms informing people about closure of nine banks. However, these are baseless, untrue and all depositors’ money is safe, according to Finance Ministry and the Reserve Bank of India (RBI).
Following the successful State Bank of India merger, the government is working on creating a handful of big global banks -- a leaner, more efficient banking universe consisting of only 3 or 4 entities. However, bank unions feel this may not necessarily help strengthen the balance sheets of the beleagured public sector banks.
New Delhi : The government is working on a consolidation agenda with a view to creating 3-4 global-sized banks and reduce the number of state-owned lenders to about 12, an official said. The 21 public sector banks would get consolidated to 10- 12 in the medium term, the official said.
The government is working on a consolidation agenda with a view to creating 3-4 global-sized banks and reduce the number of state-owned lenders to about 12, an official said.
Bengaluru : Rupay credit cards are already in operation since June 15, National Payments Corporation of India (NPCI) MD and CEO A P Hota said on Wednesday.
State-owned lender Andhra Bank is planning to raise Rs 800-1,000 crore through a qualified institutional placement (QIP) in the next five months to fund growth, a senior bank official said.
Equity benchmarks managed to end at fresh record closing highs, though the profit-booking in the last hour of trade hit market sentiment that dragged the Nifty below 9,800 level on Tuesday.
IRB Infrastructure Developers shares rose as much as 3.6 percent in morning trade Thursday after its special purpose vehicle Udaipur Tollway Private Limited has successfully achieved financial closure for Udaipur-Gujarat border 6 laning BOT (build-operate-transfer) project.
10.19 am Market Check: Equity benchmarks extended gains in morning trade, with the Sensex rising more than 100 points after two-day consolidation and despite correction in Asian peers.
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