Free Press Journal
  • RBL Bank IPO review

    RBL Bank Ltd.-(formerly known as The Ratnakar Bank Ltd.)- (RBL) is one of India’s fastest growing private sector banks in the last six years.

  • Capital infusion will dilute bank book

    Chennai: The recapitalisation of 13 government banks, announced by the central government, will result in dilution of their book value per share for banks with larger capital infusion, said investment banking firm Jefferies.  In a report, Jefferies said: “Banks with larger capital allocations relative to their common equity tier 1 (CET1) are typically the ones to see a steeper dilution of book value per share, given that stock prices for the SOE

  • Fund infusion in PSBs soon

    New Delhi:  The Finance Ministry has finalised plan for the first round of capital infusion for public sector banks and funds would be granted to some of the lenders within next few weeks. After the fourth quarter results, each 8bank made a detailed request taking into account issues pertaining to non- performing assets (NPAs) or bad loans, growth projections and the like, following which the Department of Financial Services has finalised the

  • SBI

    SBI in ‘Hall of Shame’ of banks funding cluster bomb makers

    New Delhi: State-run banking behemoth SBI has been named in a ‘Hall of Shame’ list of 158 banking and financial institutions globally that have invested billions of dollars in companies making cluster bombs.

  • Rupee hits new 3-week high, jumps 20 ps to 66.77

    Mumbai : The rupee continued to rule firm against the American currency for the fourth day, moving up by another 20 paise to close at a fresh three-week high of 66.77 on sustained selling of dollars by banks and exporters amid strong recovery in domestic equities.

  • India’s bankruptcy law positive for banks: Moody’s

    Chennai: Global credit rating agency Moody’s Investors Service on Thursday said India’s bankruptcy code boosts creditors bargaining power against big borrowers. However, Moody’s also said significant infrastructure constraints have to be crossed for the framework to be fully operational.

  • Jaitley to meet heads of PSU banks on June 6

    New Delhi :  Amid mounting bad loans and record losses by several public sector banks, Finance Minister Arun Jaitley will hold a meeting with the heads of PSBs on June 6 to find ways to deal with the situation. The meeting will review the annual performance of PSBs as well as financial institutions and deliberate on capital requirement of these entities.

  • RBI

    Banks not passing on RBI policy rate benefits: Cong in RS

    New Delhi: A Congress member in Rajya Sabha today said the banks were doing “injustice” to their customers by not passing the entire reduction in key policy rate by the RBI to their customers and sought steps to ensure it. Raising the issue during the Zero Hour, Congress member Palvai Govardhan Reddy said the RBI has reduced the repo rate by 150 basis, but banks have only passed on the benefit to

  • BSE

    Sensex logs third weekly rise, Nifty reclaims 7,600-mark

    Stocks: Market logged third weekly rise in a row to hit two months high, as benchmark Sensex gained 234.75 and the broader Nifty garnered 94.15 points on sustained by firm global markets.

  • RBI moves on banks’ bad loans in right direction: IMF chief

    New Delhi:  The RBI efforts to deal with the state-run banks’ huge non-performing assets (NPAs) or distressed loans are steps in the right direction, International Monetary Fund managing director Christine Lagarde said.  Lagarde said the government was also moving to get a bankruptcy and insolvency law enacted to address the bad loans problem.  Gross NPAs of state-run banks rose from Rs.2,67,065 crore in March 2015 to Rs.3,61,731 crore in December 2015.

  • SBI allowed to operate in Myanmar

    Yangon/Mumbai : The State Bank of India is among four new foreign banks given preliminary approval to open 100 per cent-owned branches in Myanmar, the latest move by the Southeast Asian nation  to woo investment to the country long ruled by the military and hit by Western sanctions.

  • Mallya’s sole regret: Kingfisher not flying when oil is cheap

    New Delhi : With banks going after him to recover unpaid loans given to long-grounded Kingfisher Airlines, beleaguered businessman Vijay Mallya remains defiant and says the “only regret” he has that the carrier is not flying when the oil price has dipped so low.

  • Four banks planning to sell Kingfisher Air assets to ARCs

    New Delhi : As many as four banks are contemplating selling assets of beleaguered air carrier Kingfisher Airlines to asset reconstruction companies (ARCs) to recover part of their dues. Led by SBI, the 17 bank consortium is struggling to recover Rs 6,963 crore debt due from Kingfisher Airlines.

  • raghuram-rajan-

    Rajan: Banks need deep surgery, but assures no more AQR now

    Mumbai : Stressing that cleaner balancesheets will lead to future loan growth for banks, RBI chief Raghuram Rajan today said a “deep surgery” is must for the clean-up that would require an “anaesthetic” in the form of recognising NPAs on their books.

  • Bankers pitch for raising tax break on savings to Rs 2.5 lakh

    New Delhi: Banks and financial institutions pitched for increasing tax deduction limit to Rs 2.5 lakh from currently Rs 1.50 lakh under 80C of Income Tax Act and bringing down maturity period for tax-free fixed deposit schemes to one year to promote domestic savings.

  • Bid to pull Muslims to invest in banks

    New Delhi : The Islamic Shariat prohibits the Muslims take interest on money deposits that keep them away from the banks’ schemes offering interest on savings, deposits and investments. It may soon change as the conventional banks may offer them an interest-free window.

  • Rupee plunges 19p to over 2-yr low of 66.76 v/s USD

    Mumbai : The rupee tumbled by 19 paise to end at more than two-year low of 66.76 against the US dollar on month-end demand for the American currency from importers and some banks. Besides, persistent foreign capital outflows affected the market sentiment, forex dealers said.

  • US desis celebrate Chhath on Potomac river!

    Washington : Indian-Americans celebrated the festival of Chhath on the banks of the historic Potomac River here as several women attired in colorful traditional sarees worshiped the rising sun.