State Bank of India (SBI) on Friday said frauds amounting to Rs 7,951.29 crore were reported during the first nine months of 2018-19. All these accounts became NPAs much earlier and most of the portfolio is already provided for with 100 per cent provision, SBI said in a regulatory filing. “Moreover, we provide additional provision […]
The RBI has declined to reveal the cost incurred on shredding banned currency notes worth Rs 15,31,073 crore which returned to banks following demonetization, an RTI activist said, citing a response from the central bank. To a query under the Right to Information (RTI) Act, the Reserve Bank of India (RBI) said the process of […]
Shares of Yes Bank Friday cracked 15 per cent after the company reported a decline of 3.8 per cent in net profit for the second quarter ended September 30, 2018. After a weak opening, shares of the company further tanked 14.99 per cent to Rs 168.60 on BSE. It later recovered most of its sharp […]
Here is some good news for savers. India’s biggest lender State Bank of India (SBI) has revised its interest higher on retail fixed deposits or FDs below Rs. 1 crore. The revised rate on SBI FDs will be effective from May 28. SBI has revision interest rates by up to 25 basis points in select maturities, according to the […]
India has surpassed France to become world’s sixth-largest economy in terms of gross domestic product (GDP), according to figures released by World Bank. India’s GDP reached $2.597 trillion in 2017, while it was at US $2.582 trillion for France, the World Bank said. The United States, China, Japan, Germany and the United Kingdom occupy top […]
In a major management reshuffle, the ICICI Bank on Monday announced the appointment of Sandeep Bakhshi as the Wholetime Director and Chief Operating Officer-designate, ICICI Bank. His appointment as COO will be for a period of five years, subject to regulatory approvals. He will take over as the COO on Tuesday or on the date […]
The decision of the Reserve Bank of India (RBI) to hike repo rates by 25 basis points, indicating tightening in the interest rates, could make all loans including home loans costlier, but the revision of housing loan limits for priority sector lending (PSL) from existing Rs 28 lakh to Rs 35 lakh may lead to reduction in the interest […]
NEW DELHI, India MARCH 30 The Insolvency and Bankruptcy Board of India (IBBI) has sought to streamline the process and criteria for registration of an insolvency professional (IP), seeking to institutionalise this important pillar of the Insolvency and Bankruptcy Code (IBC). Insolvency resolution professionals determine the life and death of a company in the insolvency […]
