BANKING AWARENESS
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Dena Bank, Punjab & Sindh Bank, CBI get new chairpersons
The finance ministry has appointed non-executive chairpersons at Punjab and Sindh Bank, Dena Bank and Central Bank of India, as part of its agenda to reform public sector banks.
Dena Bank, Punjab & Sindh Bank, CBI get new chairpersons
The finance ministry has appointed non-executive chairpersons at Punjab and Sindh Bank, Dena Bank and Central Bank of India, as part of its agenda to reform public sector banks.
Ø State Bank of India reports loss of Rs.
7,718 crore in march quarter
State Bank of India (SBI), the country’s biggest lender, reported a loss of Rs. 7,718 crore in the January-March quarter, hurt by higher provisions for bad loans.
State Bank of India (SBI), the country’s biggest lender, reported a loss of Rs. 7,718 crore in the January-March quarter, hurt by higher provisions for bad loans.
Ø RBI imposed penalty on Cooperative bank
The Reserve Bank of India has imposed a penalty of Rs. 50,000/- on Universal Co-operative Urban Bank, Mancherial, Telangana. The penalty has been imposed on the bank as it had violated RBI’s directive and guidelines on loans and advances to directors and their relatives.
The Reserve Bank of India has imposed a penalty of Rs. 50,000/- on Universal Co-operative Urban Bank, Mancherial, Telangana. The penalty has been imposed on the bank as it had violated RBI’s directive and guidelines on loans and advances to directors and their relatives.
Ø Lending, deposit curbs on Allahabad
Bank
RBI has imposed restrictions on Allahabad Bank, including on expansion of risky assets, creation of non-banking assets and accessing/renewing wholesale/costly deposits.
RBI has imposed restrictions on Allahabad Bank, including on expansion of risky assets, creation of non-banking assets and accessing/renewing wholesale/costly deposits.
Ø RBI puts Dena Bank under prompt corrective
action
Reserve Bank of India (RBI) has put state-run lender Dena Bank under prompt corrective action (PCA) framework. It has barred Dena Bank from extending fresh credit in view of deteriorating financial health due to mounting non-performing assets (NPAs) and mounting losses. It makes Dena Bank first lender to face curbs on lending under PCA framework.
Reserve Bank of India (RBI) has put state-run lender Dena Bank under prompt corrective action (PCA) framework. It has barred Dena Bank from extending fresh credit in view of deteriorating financial health due to mounting non-performing assets (NPAs) and mounting losses. It makes Dena Bank first lender to face curbs on lending under PCA framework.
Ø Reserve Bank of India announced
Rs10,000 crore bond purchases
The Reserve Bank of India (RBI) announced that it would buy Rs. 10,000 crore ($1.50 billion) of government bonds via open market operation (OMO), after failing to sell all the debt it had offered to bidders.
The Reserve Bank of India (RBI) announced that it would buy Rs. 10,000 crore ($1.50 billion) of government bonds via open market operation (OMO), after failing to sell all the debt it had offered to bidders.
Ø ICICI Bank names Radhakrishnan Nair as
Independent Director
Former IRDAI member Radhakrishnan Nair has been appointed to ICICI Bank’s board as an Additional (Independent) Director for a period of five years. His appointment is subjected to the approval of shareholders.
Former IRDAI member Radhakrishnan Nair has been appointed to ICICI Bank’s board as an Additional (Independent) Director for a period of five years. His appointment is subjected to the approval of shareholders.
Ø Argentina’s central bank hiked interest
rates to 30.25%
Argentina’s central bank (Central Bank of Argentina) has raised interest rates by 300 bps to fight inflationary pressures. The already high benchmark interest rates in the country has been raised from 27.25 per cent to 30.25 per cent in a bid to prop up its ailing currency from sliding further against the US dollar.
Argentina’s central bank (Central Bank of Argentina) has raised interest rates by 300 bps to fight inflationary pressures. The already high benchmark interest rates in the country has been raised from 27.25 per cent to 30.25 per cent in a bid to prop up its ailing currency from sliding further against the US dollar.
Ø Uday Kotak redesignated as MD & CEO
of Kotak Mahindra Bank
The board of directors of Kotak Mahindra Bank has redesignated Uday Kotak as Managing Director and Chief Executive Officer. Mr. Kotak was earlier executive Vice Chairman and Managing Director.
The board of directors of Kotak Mahindra Bank has redesignated Uday Kotak as Managing Director and Chief Executive Officer. Mr. Kotak was earlier executive Vice Chairman and Managing Director.
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