In June 2016, the bank sold an 18 percent stake in the life insurance arm to Dai-ichi Life for Rs 540 crore.State-run Bank of India is looking to raise Rs 1,000-1,200 crore by selling its entire 28.96 percent stake in life insurance joint venture, Star Union Dai-Ichi Life...
The committee has fixed the issue price at Rs 33.67 per share.State-owned Syndicate Bank Thursday said it will raise up to Rs 500 crore by issuing 30 crore shares to its staff under the employee stock purchase scheme.The committee of directors on ESPS (compensation committee) in its meeting...
Breather! PSBs to get Rs 41,000 cr extra capital this fiscalThe government would infuse Rs 41,000 crore more into public sector banks (PSBs) in the current fiscal, over and above the budgeted Rs 65,000 crore, finance minister Arun Jaitley said on Thursday. The crucial move could enable 4-5...
The strike call is expected to hit banking operations across the country. However, private sector banks are not part of the strike and would continue their usual business.Demanding immediate wage revision and protesting merger of the state-owned banks, a union of public sector bank officers has called for...
Kotak Mahindra Bank sees corporate loan book swelling by 26 pc in FY20Credit market issues, including lending caps on half of the state-run banks and the crisis at non-bank lenders, have led Kotak Mahindra Bank to upwardly revise its corporate lending targets up to 25 percent next fiscal...
Nine bank unions call for one-day strike on December 26 (File)Close to 1 million employees of various banks, including private lenders, have called for a one-day strike on December 26 to protest against the proposed amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda. The strike...
Allahabad Bank MD-CEO SS Mallikarjuna RaoAllahabad Bank has set a cash recovery and upgrade target of Rs 1,000 crore for the October-December quarter to clean up its balance sheet, and the lender is working “very hard” to achieve it, managing director and chief executive officer SS Mallikarjuna Rao...
Pallav Mohapatra, MD & CEO, Central Bank of IndiaCentral Bank of India has managed to improve on most financial metrics since it was brought under the prompt corrective action (PCA) framework, managing director and CEO Pallav Mohapatra tells Shritama Bose. The bank is working to turn in a...
Yes Bank to use data analytics to offer right mix of productsWith an increasing focus on retail customers, Yes Bank is now churning data to understand customer behaviour and offer a right mix of products based on a predictability model, a senior official said. The bank has already...
SBI charges among lowest in banking sector: MDState Bank of India (SBI) Managing Director P K Gupta said that the charges for various services offered by the bank are among the lowest in the industry. Various services offered by the bank, including ATM transaction and cash deposits, come...