Chartered accountants' apex body ICAI has sought information from the RBI and other authorities on the PMC Bank crisis to check whether any auditor was involved in the alleged financial irregularities at the lender.
Bank Holidays In October 2019: Banks to remain closed on the occasion of Diwali, Dussehra, and other festivals or national event in the month of October. Notably, the central government holidays are applicable to all public and private sector banks.
After the unexpected decision of The Reserve Bank of India to put Punjab and Maharashtra Cooperative Bank (PMC Bank) under scrutiny and strict directions for six months, the depositors of the bank are into a huge snag. But, the question is- how much safe is our money when it comes to cooperative banks these days? What will happen to depositors’ money if a bank suddenly fails or shuts down? Read on.
A delegation of account-holders went to Sion police station in central Mumbai and submitted the complaint against officials of the bank, on which the RBI has imposed operational restrictions, he said.
"Everything relating to the merger is going on smoothly. We don't foresee any challenges. Other banks have done it successfully and we can repeat that,said Sunil Mehta, the Managing Director and CEO of PNB.
A consortium of 14 public sector banks, led by the Bank of India on Friday initiated the process to recover staggering loans totally worth Rs 3,635.25 crore from a Mumbai-based defaulter, Frost International Ltd.
Public Sector Bank Strike: If you are planning to carry out any important bank-related work on September 26 and 27, then you might have to do it before or post it as banking operations in key public sector banks are likely to be hit due to proposed strike of bank unions.
While RIL, HDFC Bank, HDFC and Kotak Mahindra Bank were the other winners, Tata Consultancy Services Ltd (TCS), HUL, Infosys and ITC suffered losses in their market capitalisation (m-cap) for the week ended Friday.
The court issued notice to the bank, seeking its stand by October 11 on on Gandhi's demand for documents.
The mega merger of 10 state-run banks is credit positive, as it can increase their operational scale and growth capital, apart from improving their corporate governance over the long term, says a report.
The board meeting held on Thursday followed the finance ministry asking the three banks to consider the proposal of amalgamation, PNB said in a regulatory filing.
Finance Minister Nirmala Sitharaman last week announced the merger of Oriental Bank of Commerce and United Bank with Punjab National Bank, Syndicate Bank with Canara Bank, while Andhra Bank and Corporation Bank will merge with Union Bank of India.
State-run banks on the exchanges traded on a weak note during the early trade on Tuesday after the government announced plans to merge 10 public sector banks into four.
"Absolutely, ill informed. I want to assure every union in everyone of these banks to please recall what I have said last Friday. When we spoke about amalgamation of banks I have very clearly underlined the fact that there shall not be one employee removed. Not at all", she told reporters here.
Opposing the merger of 10 public sector banks into four, C. H. Venkatachalam, General Secretary of AIBEA, in a statement issued here said in the name of banking reforms the government is enabling banks to help corporates.
Finance Minister Nirmala Sitharaman, who had last week announced tax sops and measures for sectors such as auto, announced four new set of mergers -- Punjab National Bank, Oriental Bank of Commerce and United Bank of India will combine to form the nation's second-largest lender; Canara Bank and Syndicate Bank will merge; Union Bank of India will amalgamate with Andhra Bank and Corporation Bank, and Indian Bank will merge with Allahabad Bank.
After opening slightly higher than its previous close, the 30-share index slipped into the red to trade 12.46 points, or 0.03 per cent, lower at 37,628.81 at 0930 hours, while the broader Nifty fell 7.30 points, or 0.06 per cent, to 11,098.05 in early trade.
In view of the falling interest rate scenario and surplus liquidity, SBI realigns its interest rate on Term Deposits with effect from August 26, 2019, SBI said in a statement.
IBPS PO Exam 2019: The Institute of Banking Personal Selection (IBPS) has released the notification for the IBPS PO Exam 2019 for recruiting the Probationary Officer / MT under CRP IX. The application process will start from August 7 online. Aspirants can fill the examination application form for IBPS PO 2019 from August 7. The last date to fill IBPS PO application form is August 28. Candidates must know that the IBPS PO application forms can be filled only in the online mode.
Bank officers at state-run banks are facing tremendous work pressure due to staff shortage and sale of third-party products like mutual funds which should be stopped, a senior official of All India Bank Officers' Confederation (AIBOC) said.
Top News
Latest News
