State Bank of India (SBI) alone had an unclaimed deposit of Rs 2,156.33 crore at the end of 2018, she said.Unclaimed deposits in the banking system have witnessed a jump of 26.8 per cent to Rs 14,578 crore in 2018, Parliament was informed on Monday. The unclaimed deposits...
Sekar, who began his career in State Bank of India as a probationary officer, had served Dena Bank as its Managing Director and CEO.Public sector Indian Overseas Bank Monday said it has elevated Karnam Sekar as the new Managing Director and Chief Executive Officer with immediate effect, replacing...
DHFL has seen a rash of rating downgrades last month after it defaulted on Rs 1,150 crore to bondholders due on June 4.The consortium of 30 lenders led by the state-run Union Bank of India Monday decided to enter into an inter-creditor agreement before July 5 to thrash...
At 16.9% year-on-year (y-o-y), the increase in retail loan outstandings in May 2019 was significantly slower than the 18.6% growth recorded in May 2018. (Reuters)A prolonged slowdown in consumption may be playing out, going by the sales of durables, staples, revenues at retailers and the demand for consumer...
For its part, however, the finance ministry had asserted that the RBI had adequate supervisory power over state-run banks. (Reuters)The government is looking into a proposal from the Reserve Bank of India (RBI) to enhance its regulatory powers with respect to non-banking financial companies (NBFCs) through the legislative...
The exposure of banks is close to Rs 45,000 crore, which is nearly half the company’s total outstanding of close to Rs 1 lakh crore. (Reuters)Mitali SalianThe consortium of lenders to Dewan Housing Finance (DHFL) have decided to sign an inter-creditor agreement (ICA) by the end of this week as...
Punjab National Bank and Central Bank of India also revised their MCLR by a 5 basis-point cut across tenures.ICICI Bank, Punjab National Bank and Central Bank of India on Monday cut their marginal cost of funds-based lending rates (MCLRs) across tenures for the first time after the Reserve...
Loans to industry been growing consistently since February 2017, when it showed a contraction of 5.2% over the previous year. (Reuters)Retail loan growth for banks slowed to 16.9% year-on-year (y-o-y) in May from 18.6% a year ago, according to data released by the Reserve Bank of India (RBI)....
The bank has cut its marginal cost of funds based lending rate (MCLR)across all tenors by 0.10 percent, they said adding the new rates areeffective immediately. (File Photo)The second largest private sector lender ICICI Bank has cut its lending rates by 0.10 percent which will make all the...