Page 5 - Banking

BBB invites applications for position of Union Bank of India MD

The post of MD and CEO would fall vacant at Mumbai-based Union Bank of India upon retirement of Rajkiran Rai G in May 2022

Banks' better NPA recovery, declined provisioning to continue in 2022: ICRA

The improvement in such parameters has helped realise better profitability for the banks, the rating agency said

Corporate-promoted NBFCs can have 15% stake in banks, with increase in cap

Banking experts said the move to increase non-promoter shareholding would help lenders with greater access to capital

FIBAC 2021: India Inc spoilt for choice as funding avenues open up

Panelists at FIBAC say banks lose monopoly of being only source of funding to firms

Building a brave new world of banking

The differentiated banking model, therefore, has been far from convincing and may take more time to stabilise

Central Bank of India, U GRO tie up for co-lending to MSMEs

The disbursement will be to U GRO Capital's varied MSME segments under its programs - Pratham, Sanjeevani, Saathi, GRO MSME and machinery financing

Govt appoints non-official directors on boards of various banks

The government has appointed Non-Official Director (NOD) on the board of these banks for three years

RBI empanells CSB Bank to undertake banking biz of central, state govts

This appointment will allow CSB Bank to undertake general banking business of the central and state governments which may be entrusted by the RBI, the bank said

SBI's exposure to road sector at Rs 90,000 crore, says Dinesh Khara

SBI's exposure to the road sector is close to Rs 90,000 crore, which is 37 per cent of the total banking exposure to the segment, its Chairman Dinesh Khara said on Friday. Speaking at a national conference on investment opportunities in highways, transport and logistics, he said State Bank of India (SBI) is a trusted partner in the growth of the roadway sector in the country. "For all purposes, SBI's exposure to the road sector at Rs 90,000 crore is almost 37 per cent of the total banking exposure to this particular sector," Khara said. The lender has granted credit worth Rs 35,000 crore as of June 30, 2021 to support the National Highways Authority of India (NHAI) for execution of multiple road infrastructure projects. It has granted credit worth Rs 5,000 crore to the SPV (special purpose vehicle) for Delhi-Mumbai Expressway, and has recently extended credit of Rs 8,000 crore to the initiative, he said. The bank is the largest lender to the recently launched National Highways Inf

Two-day bank strike ends; banking operations hit across Maharashtra

Banking operations across Maharashtra remained impacted for the second straight day on Friday as employees of state-run lenders continued their two-day strike against bank privatisation

Bank strike continues for second day, services hit at many places

Banking services across Tamil Nadu remained hit for the second day on Friday with employees union staging a protest against the proposed privatisation of nationalised banks by the government

ICICI Bank raises Rs 5,000 crore debt capital by issuing bonds

The board of directors of the bank had in April this year approved to raise funds by issuing debt securities

Yes Bank board to consider raising funds via various instruments on Dec 21

The bank has, however, not specified how much money it intends to raise

Banking services impacted as 900,000 employees go on two-day strike

Staffers take out marches in protest against privatisation of public sector banks; a few customer service centres kept functional

UBS clarifies it remains committed to India as advisory services move

Bloomberg on Wednesday reported that UBS planned to shut its global banking office in India and move investment banking coverage for the country offshore

SME neo-banking platform Open buys Finin for $10 mn in cash-and-stock deal

Deal will strengthen Open's cloud native enterprise offering BankingStack through which it has deployed SME digital banking solutions for 17 banks

Deposit insurance reforms to instil confidence in people on banking: PM

At Vigyan Bhawan, the Prime Minister said banks play an important role in the progress of any nation

Bank of Maharashtra lowers home loan rate to all-time low of 6.4%

The new rates would be effective from December 13, it said

Ujjivan SFB raises interest rates by 50-75 bps on FDs up to Rs 2 crore

For depositors aged under 60, the bank is offering 6.5% for a 12 months tenure, and 6.6% for 19-24 months; seniors get an additional 75 bps across tenures

Brazil's Nubank raises $2.6 billion in top-of-range US IPO

Nubank warned investors to brace for "short-term profit implications" from the firm's expansion push