Do we trust banks? We’re going to know soon
Australian banks look set to publicly report on how much their customers trust them, a move designed to give greater transparency to the industry’s bid to repair its battered reputation. Former auditor-general Ian McPhee, who has overseen the banks’ attempt to address a “trust deficit”, will on Tuesday call for individual banks More...
Banking royal commission: AMP executive says company put profits before the law
AMP’s head of financial advice, Anthony Regan, said there were reasons to be concerned about the company’s internal culture while appearing before the banking royal commission. Photograph: AAP AMP’s head More...
ED analysing 120 shell companies in PNB fraud case: Govt
The Directorate of Enforcement (ED) is analysing 120 shell companies in connection with the Punjab National Bank fraud allegedly committed by jewellery designer Nirav Modi, the government said on Friday. The state-owned More...
SBI approaches Supreme Court to challenge Anil Ambani’s Rcom asset sale halt
State Bank of India, the country’s largest lender, has approached the apex court to challenge decisions that halted the sale of assets by Anil Ambani’s indebted telecom unit, which is seeking to pare a $7 billion More...
Banks Set To Raise Lending Rates, Pre-Empting RBI, Says Report
New Delhi/Mumbai: India’s struggling economy is facing a new challenge: banks are raising interest rates even though the Reserve bank of India (RBI) is leaving its rates unchanged, as risks such as surging More...
$3.6 Billion In Hidden Bad Loans Spotlight Indian Banking Stress
SBI on Friday said an audit by the RBI showed soured debt was about Rs. 23,200 crore higher HIGHLIGHTS Audit by RBI unearthed about Rs.23,200 crore of bad loans in SBI books On Friday, SBI reported More...
RBI Announces New System To Settle Bad Loans
The RBI said that all prior schemes will be withdrawn with immediate effect HIGHLIGHTS RBI sought to push more large loan defaulters toward bankruptcy courts New rules aimed at creating harmonized, simplified More...
Strengthening Public Sector Banks Is Top Priority, Says Arun Jaitley
New Delhi: Having implemented the Goods and Services Tax (GST), Finance Minister Arun Jaitley today said strengthening the public sector banks is most important agenda for the next year. “There are important More...
Banking Sector Stares At Additional Rs. 40,000 Crore NPAs
New Delhi: The banking sector fears accretion of more than Rs. 40,000 crore of bad loans to its books following recent classification of eight consortium accounts of Axis Bank as non-performing assets by the RBI. The More...
Punjab National Bank Q2 Profit Beats Estimates, Shares Surge
State-run Punjab National Bank, the country’s fourth-biggest lender by assets, reported a 2 per cent rise in second-quarter profit, beating forecasts. Its shares rose over 5 per cent to Rs. 208 at day’s More...