Free Press Journal
  • Fashion is now a matter of stripes

    Wall Street-inspired banker stripes trend has caught the fancy. Sapna Sarfare finds the details

  • Action against bank accounts of 2 lakh firms ‘struck off’ from RoC

    New Delhi: Stepping up action against over two lakh companies which have not been carrying out any business for the last 1-2 years, the government on Tuesday said such firms have been ‘struck off’ from the Register of Companies and action initiated to restrict their bank accounts, an official statement said on Tuesday.

  • Raghuram-Rajan

    Raghuram Rajan: Biggest challenge is to clean up balance sheets of PSBs

    Chennai: Former RBI Governor Raghuram Rajan today said the biggest challenge is cleaning up the balance sheets of public sector banks. “RBI (during his tenure) issued lot of things to increase competition in the banking sector which include giving 23 bank licenses. There were new banks, payment banks, small finance banks,” he said at an event here to launch his book ‘I do what I do’. Noting that work is still in

  • NPAs in Banks – June 2017: This is how things stand

    One of the major challenges for the Indian banking system is to address the NPA issue which has also affected the profitability of banks besides coming in the way of future bank lending as banks have been cautious while lending especially for long term purposes. Various measures have been attempted to address this issue with the IBC being the latest one where some of the larger NPAs have been identified for speedy

  • Rupee hits fresh 2-year high of 63.65 against dollar

    Mumbai: The rupee strengthened by 5 paise to trade at a fresh two-year high of 63.65 against the dollar, buoyed by hopes of more capital inflows, coupled with more selling of the American currency by banks and exporters.

  • Mumbai: Rs 297-crore loan waiver scheme of 2009 under government’s scanner

    Mumbai: The state finance ministry has taken a serious note of the Rs. 297 crore expenditure for loan waiver in 2009 in Mumbai handed out to unknown farmers. The ministry has warned banks, including Mumbai District Central Cooperative (DCC) bank and nationalised banks, and asked them to furnish name of beneficiaries in the state or repay it from their own balance sheets.

  • Indian Overseas Bank seeks bids for 5 NPAs

    Mumbai : Indian Overseas Bank (IOB) has invited initial bids from asset reconstruction companies, banks, financial institutions, and non-banking finance companies for the proposed sale of five non-performing assets worth Rs 383 crore, the lender said in a notification, reports Cogencis.

  • Indore: ‘Bank, NBFCs must come together to help out MSMEs’

    Indore: Smita Bhardwaj, MD of MP Financial Corporation said the corporation was working closely with MSMEs, especially with those having innovative ideas. She appealed to banks and non-banking financial companies (NBFCs) to come along together and build the nation by helping the MSMEs, so that they could grow with the help of required finance and solve their financial needs.

  • Bhopal: ‘Syndicate Bank to open 20 branches in state’

    Bhopal: Syndicate Bank will open 20 new branches in the state shortly, informed executive director of the bank CH SS Mallikarjuna Rao, who was in Bhopal to inaugurate the new zonal office of the bank at Paryavas Bhawan, on Friday.

  • Banks to see higher provisioning on new norms next fiscal

    New Delhi: As they battle the NPA menace, banks are set to see “huge ramifications” next fiscal with the implementation of new accounting norms that will require the lenders to make higher provisioning for loans.

  • RBI comes out with new PCA framework for banks

    The mandatory action that would be taken when a bank breaches the risk threshold includes restriction on dividend payment/remittance of profits, restriction on branch expansion, higher provisions,  restriction on management compensation and director’s fees
    (more…)

  • Mumbai: Fearing crunch in future, banks limit cash in ATMs

    Mumbai: It is almost two weeks since ATMs of several banks across the city have been running dry. There are many theories that have surfaced lately on this issue, the most prominent one is the supply cannot meet the cash demand.

  • SBI to shut down 47% of associate banks’ offices post-merger

    New Delhi : State Bank of India (SBI), which will see five associate banks merge into it on April 1, has decided to shut down almost half the offices of these banks, including the head offices of three of them. This process will start from April 24.

  • Bhopal: New market traders protest against bank charges

    BHOPAL: New Market businessmen, on Wednesday, took out a march in protest against banks for levying a charge of Rs 150 per transaction for cash deposits, withdrawals and debit cards. They dubbed the banks act as ‘injustice’ after demonetization.

  • Ujjain: Abandoned newborn dies after being found at Sunahari Ghat

    Ujjain: A mother abandoned her newborn baby at Sunahari Ghat on the banks of the river Kshipra on Wednesday morning.  According to an employee of the Ujjain Municipal Corporation Mukesh Kaptan, the baby who was wrapped in a piece of cloth, died after a few hours. On being informed sub-inspector Karan Singh Chouhan of Jiwajiganj police station, reached the spot of the incident and sent the body to the Civil Hospital for

  • Ujjain: Illegal parking, encroachment unleash chaos in Freeganj

    Ujjain: Illegal parking in Freeganj, the most developed part of Ujjain city has paved way for a host of woes amongst residents of the city. All meticulous planning seems to be falling apart in an area which was designed to provide parking lots in almost every commercial and residential building. More so since the area houses huge residential complexes, banks, hospitals and other major commercial establishments.

  • Ind-Ra maintains stable outlook for large state run-banks

    Mumbai : Domestic rating agency Indian Ratings and Research on Wednesday maintained stable outlook on large public sector banks and private sector banks supported by high levels of capital.

  • RBI keeps rates unchanged on policy, wants banks to make loans cheaper

    Mumbai: RBI on Wednesday kept rates unchanged citing lack of clarity on macro front post note-ban and rising inflationary threat, even as it signalled a possible end to rate-cutting cycle by shunning long-held “accomodative” stance while Governor Urjit Patel nudged banks to make loans cheaper.