Free Press Journal
  • Lok Ranjan to continue on ICICI Bank board

    New Delhi : The finance ministry on Friday said senior bureaucrat Lok Ranjan will continue to serve on the board of ICICI Bank as independent director despite his transfer to the personnel ministry.

  • Vijay Mallya loses UK case, Banks can now recover Rs 10,000 crore

    London: Absconding tycoon Vijay Mallya has lost a major lawsuit in UK. It was filed by Indian banks which are seeking to collect more than $1.55 billion in claims, reports CNN IBN. Significantly, the judge also refused to overturn a worldwide order freezing Mallya’s assets and upheld a Karnataka debt tribunal’s ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to nearly Rs 10,404 crore from the

  • Jaypee group promoters submit Rs 10K-cr plan to revive Infratech

    New Delhi : Jaypee group promoter Manoj Gaur on Monday made a Rs 10,000 crore offer to pay off bank loans and complete the stuck housing projects as part of plans to bring Jaypee Infratech out of bankruptcy, sources said.

  • CBI names BSE chief in IDBI fraud case

    New Delhi : The CBI on Friday searched the residences of six former and current officials of IDBI Bank in connection with an alleged Rs 600 crore loan fraud case in which Bombay Stock Exchange (BSE) chairman S Ravi and the heads of two public sector banks have also been booked, officials said here.

  • IDBI loan fraud: CBI books 15 bank officials in Rs 600 crore loan fraud

    New Delhi: The CBI has booked top officials of two public sector banks, a former CMD of IDBI Bank, former Aircel promoter C Sivasankaran, his son and companies controlled by him in connection with a Rs 600-crore loan fraud, officials said on Thursday.

  • CBI registers case against IDBI Bank, Axcel Sunshine for Rs. 600 Cr. fraud

    New Delhi: The Central Bureau of Investigation (CBI) on Thursday registered a case against the then senior officials of IDBI Bank, Axcel Sunshine and others on allegations of perpetrating fraud of approximately Rs 600 crores through loan accounts of Axcel Sunshine Limited and another company.

  • RBI penalty not to have any material impact says IDBI Bank

    Mumbai: State-run IDBI Bank on Thursday said a Rs 3 crore penalty imposed on it by the Reserve Bank of India (RBI) “will not have any material impact” on it. According to a BSE filing by IDBI Bank, the RBI imposed a Rs 3 crore penalty on it for non-compliance of ‘Income Recognition and Asset Classification’ (IRAC) norms.

  • RBI imposed Rs 3 crore fine on IDBI Bank violation of asset classification norms

    Mumbai: The Reserve Bank of India (RBI) imposed monetary penalty worth Rs. 3 crore on IDBI Bank for not complying with the outlined norms related to reporting of bad loans. In an official notice, the RBI said the penalty was imposed on account of non-compliance with the directions issued on Income Recognition and Asset Classification (IRAC) norms.

  • IDBI Bank in pact to sell BKC building to Sebi

    Mumbai : IDBI Bank has entered into an agreement with the Securities Exchange Board of India to sell its seven-storey office building at Bandra-Kurla Complex, the lender informed bourses.

  • CBI files three FIRs in Rs 743-cr IDBI Bank fraud

    New Delhi : The CBI has registered three fresh cases to look into Rs 743 crore of fishy loans issued by an IDBI Bank branch in West Godavari district for pisciculture and Kisan credit cards which have become non-performing assets.

  • Made provisions for pisciculture loans, says IDBI

    Mumbai : IDBI Bank on Wednesday said that it fully provided for the fraudulent pisciculture loans given during 2009-13 and, therefore, the fraud will have no effect on the profitability of the bank, the lender said.

  • Banks board gets free hand, in good rapport with govt, says Rai     

    New Delhi : There have been many reports in the past that stated that Banks Board Bureau (BBB) and the government was not in sync. But BBB, Chairman, Vinod Rai denied these reports by saying that the board was given a ‘free hand’ in appointment process and dismissed any lack of coordination with the government.

  • New Amfi chief sees industry clipping at 20-25% CAGR till 2020

    Mumbai: Veteran banker and bond market specialist NS Venkatesh, who took over as the Amfi chief late last month, expects the industry to continue to grow at a compounded annual rate of 20-25 per cent over the next three  years given the deepening financialisation of the economy.

  • LIC may participate in bank recap plan

    As part of recap,  LIC could also increase its stake in PSBs which are required to raise Rs 58,000 crore from the market.  LIC could also participate in a non-operating holding company (NOHC) structure.

  • Bids invited for Jaypee Infra insolvency plan

    New Delhi : Applications have been invited from corporate entities for submission of resolution plan for the debt-laden Jaypee Infratech under the insolvency law, according to a public notice. The National Company Law Tribunal (NCLT) has admitted the application by an IDBI Bank-led consortium seeking resolution for Jaypee Infratech under the Insolvency and Bankruptcy Code. Moving ahead with the process, the NCLT-appointed insolvency resolution professional (IRP) Anuj Jain has sought applications from

  • Two-day strike at IDBI Bank ‘total success’: AIBEA

    Chennai: All India Bank Employees’ Association today termed the two-day strike by IDBI Bank employees as a “total success” and said the unions would decide upon industry level strike next month.