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December 14, 2017

Banking

Banks provide vital information about post-demonetization transactions of 5800 suspicious companies

Newsroom24x7 Network New Delhi: Vital information has been received by the Government of India from 13 banks regarding the bank account operations and post-demonetization transactions of some of the 2,09,032 suspicious companies that had been struck off the Register of Companies earlier this year. Investigative agencies have been asked to complete necessary investigation regarding these

Indian banks face USD65 billion capital shortage by FYE19

Newsroom24x7 Network Mumbai/Singapore: Indian banks are likely to require around USD65 billion of additional capital to meet new Basel III capital standards that will be fully implemented by the financial year ending March 2019 (FY19), according to Fitch Ratings’ latest estimates. According to Fitch, weak capital positions have a major negative influence on Indian banks’

State Support Driving Indian AT1 Market

Newsroom24x7 Network Mumbai/Singapore: This month’s capital injection into IDBI Bank suggests the Indian government remains unwilling to allow state banks to miss coupon payments on Additional Tier 1 (AT1) instruments, says Fitch Ratings. IDBI may have been at risk of skipping a coupon payment without the fresh capital, which might have disrupted the domestic AT1

CBI arrests zonal head of Bank of Maharashtra

Newsroom24x7 Staff Pune: The Central Bureau of Investigation has arrested a former Zonal Head, Pune City Zone, Bank of Maharashtra, and a director of a private logistics Company, based at Surat (Gujarat) in an on-going investigation of a bank fraud case. CBI registered a case against the Surat based private logistics firm and 10 other

State Bank of India comes under attack on minimum balance penalty

Newsroom24x7 Staff I understand that the bank is having financial difficulties but this is not how they are going to make up the deficit. Bhopal: K.K. Sethi, a retired bureaucrat, was in for a rude shock today when the State Bank of India (SBI) charged him Rs. 115 on the ground that he was not

Fitch: Indian Loan Waivers are a Risk to Fiscal Consolidation

Newsroom24x7 Network Mumbai/Hong Kong/Singapore: The farm loan-waiver schemes being discussed and rolled out across an increasing number of Indian states could have a significant impact on state government finances, and might undermine efforts to bring down general government debt, says Fitch Ratings. The impact on India’s debt dynamics and capital spending will depend on the

SBI announces financing of rooftop solar projects worth Rs. 400 crore with private developers

Newsroom24x7 Network New Delhi: The State Bank of India (SBI) today announced financing of rooftop solar projects worth Rs. 400 crore, with private developers. This would add at least 100 MW of rooftop solar capacity to the grid, and is a significant step towards meeting the Government of India’s target for 40 GW of rooftop

CBI registers three cases against two ex-Chief Managers of Corporation Bank

Newsroom24x7 Staff New Delhi: The Central Bureau of Investigation has registered three separate cases on a complaint from Corporation Bank against two former Chief Managers; Director-cum-Proprietor of private firms; middlemen; an advocate and others on the allegations of criminal conspiracy, cheating and forgery. It was also alleged that the accused named in FIRs have floated

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