Central bank

NEW DELHI: Shares of PSU banks were trading with losses in Friday's session. Shares of Punjab National Bank (up 1.68 per cent) , State Bank of India (up 1.33 per cent) , Union Bank of India (up 1.28 per cent) , Bank of Baroda (up 0.91 per cent) , Canara Bank (up 0.72 per cent) , Indian Overseas Bank (up 0.69 per cent) , Indian Bank (up 0.57 per cent) and Central Bank of India (up 0.37 per cent) were among the top gainers. The Nifty PSU Bank index was trading 0.81 per cent up at 1132.05 around 02:20PM. Benchmark NSE Nifty50 index was up 52.35 points at 9542.45, while the BSE Sensex was up 104.37 points at 32304.96. Among the 50 stocks in the Nifty index, 37 were trading in the green, while 13 were in the red. Shares of Vodafone Idea, IDFC First Bank Ltd., BHEL, Federal Bank, Tata Motors, SBI, Tata Power, ICICI Bank, Axis Bank and GMR Infra were among the most traded shares on the NSE. … [Read more...] about Share market update: PSU bank shares gain; PNB rises nearly 2%

The Reserve Bank of India on Friday imposed fines on Citibank, Bharat Co-operative Bank, TJSB Sahakari Bank and the Nagar Urban Co-operative Bank for deficiencies in regulatory compliance. Notably, this is the second successive day of the RBI imposing fines on banks, having slapped Bank of India, Karnataka Bank and Saraswat Co-operative Bank with penalties on Thursday. Citibank was fined Rs 4 crore by the regulator, whereas Bharat Co-operative bank, TJSB Sahakari Bank and Nagar Urban Co-operative Bank were fined Rs 60 lakh, Rs 45 lakh and Rs 40 lakh respectively. Citibank RBI on Friday announced that it had imposed a Rs 4 crore penalty on Citibank in January 2020. The Apex Regulator said this was “for contravention of Section 10 (1) (b) (ii) of Banking Regulation Act, 1949 (t and for non-compliance with the directions issued by RBI on obtaining declaration from customers about credit facilities enjoyed with other banks, granting non-fund based facilities to non-constituent … [Read more...] about RBI imposes penalty on Citibank, TJSB Sahakari Bank, Bharat Co-op Bank and Nagar Urban Co-op Bank

Under the new regime, while the floating rate loan book will get re-priced, only the non-current and savings accounts (CASA) deposits deposits will see a re-pricing. CASA makes up asignificant portion of bank deposits. Interest rates on CASA deposits tend to be tend to be low but stable … [Read more...] about RBI external benchmark for bank loans credit negative: Moody’s

Bokil and his team, most of whom left well-established careers to be part of the movement to 'eradicate black money' in the Indian economy, met all senior politicians, policymakers, central bank officials, bank officials, religious leaders from all faith, and anyone who cared to give them time -- not to mention holding public awareness campaigns through the length and breadth of the nation, to push for their radical ideas. … [Read more...] about ‘Never suggested overnight banning of high value notes’

MUMBAI: In a release, The directions pertained to obtaining declaration from customers about RBI said the statutory inspection of the Indian operations of the bank with reference to its financial positions as on March 31, 2017 and March 31, 2018 and the Risk Assessment Reports (RARs) pertaining thereto revealed, inter-alia, contravention with the provisions of the Act and non-compliance with certain directions issued by the central bank, following which a notice was issued to Citibank. "After considering the bank's reply to the notice, oral submissions made during the personal hearing and examination of additional submissions, RBI concluded that the aforesaid charges of contravention with the provisions of the Act and non-compliance with RBI directions warranted imposition of monetary penalty," it said. The penalty has been imposed by an order dated January 8, 2020, it added. The RBI has also imposed penalty on three co-operative banks for non-compliance with various directions issued … [Read more...] about RBI imposes Rs 4 crore penalty on Citibank