RBI adds 23 banks, after initially opening the facility for seven lenders. This covers around 90% of unclaimed deposits in value terms in Depositor Education and Awareness Fund.
Dinesh Khara gets an extension till August next year; government also grants two-year extension to SBI MD Ashwini Kumar Tewari.
Chaired by R. Narayanaswamy, former professor of IIM Bangalore, the working group will lay down the principles for banks while designing the credit risk models to be used for assessing and measuring expected credit losses.
In July, the Kerala-based private sector lender raised Rs 959 crore via preferential issue of shares to the World Bank Group member.
Though the facility for deposit or exchange of Rs 2,000 notes at commercial bank branches will cease after 7 October, customers can exchange these notes at RBI's 19 regional offices, subject to a limit of Rs 20,000 per transaction.
A week after Rs 9,000 crore was wrongly credited into a taxi driver’s account, Tamilnad Mercantile Bank managing director and CEO S Krishnan has resigned from the post.
Madhusoodanan will be in his role as part-time chairman of Dhanlaxmi Bank for a period of three years from 26 September 2023.
RBI fines three state-owned banks for violation of various regulatory norms; penalty of Rs 1.3 cr imposed on SBI, Rs 1.62 cr on Indian Bank and Rs 1 cr on Punjab & Sind Bank.
Govt mulls changes in IBC to consider insurers as financial creditor in case of default of infra projects.
This is SBI’s fourth such issuance and the coupon rate is at 7.49%; the issue received 134 bids, indicating a wider participation.
RBI has proposed that lenders should label defaulting borrowers as ‘wilful defaulters’ within six months of an account being classified as a non-performing asset.
RBI approves re-appointment of Sashidhar Jagdishan as HDFC Bank MD and CEO for three more years till 26 October 2026.
Collaboration between IREDA and Bank of Maharashtra aims to facilitate co-lending and loan syndication for renewable energy projects.
State Bank of India introduces digital facility for NRIs to open NRE and NRO accounts through its mobile app YONO.
In his resignation letter, Sridhar Kalyanasundaram cites several issues like factionalism in board, differences regarding rights issue and the bank’s one-time settlement scheme.
