Topics: Banks

RBI approves shareholding dilution plan of Kotak Mahindra Bank’s promoters

The Reserve Bank of India on Tuesday approved the shareholding dilution plan of Kotak Mahindra Bank's promoter. In a filing with the stock exchange, the...

ICICI Bank secures Rs 945 crore through issuance of Basel III compliant bonds

India's leading private bank, ICICI bank on Monday said, that, “It has secured Rs 945 crore through issuance of Basel III compliant bonds on...

Coronavirus Outbreak: China cleans, locks away banknotes to stop virus spread

China is disinfecting and isolating used banknotes as part of efforts to stop the spread of the new coronavirus that has killed more than...

IMF: India needs more ambitious structural and Financial sector reforms

India urgently needs more ambitious structural and financial sector reform measures and a medium-term fiscal consolidation strategy due to the rising debt levels while...

Maveric Systems appoints Ramesh Vasamsetti as Director of Quality Engineering Business

Chennai-based global banking technology solution provider Maveric Systems on Monday announced that "it has appointed Vasametti as its new director of Quality Engineering (QE)...

UniCredit confirms its plan to cut 6,000 jobs in Italy as union negotiations begin

UniCredit confirmed plans to cut a total of 6,000 jobs in Italy over the next four years as the country's biggest bank began the...

Thomas Gottstein to replace Tidjane Thiam as Credit Suisse new boss

Credit Suisse Chief Executive Tidjane Thiam has quit after a power struggle at Switzerland's second-biggest bank, which faces investor pressure over a spying scandal...

Reports: Goldman Sachs to raise $8 bn in its second buyout fund

Goldman Sachs Group Inc plans to raise $8 billion in only its second buyout fund since the 2008 financial crisis, bolstering its ability to...

Global green bond issuance to be at $300-$375 billion this year

Global green bond issuance is expected to be between $300-$375 billion this year, after a record year last year, according to research from two...

Flipkart Co-founder Sachin Bansal resigns from Ujjivan Small Finance Bank board

Citing to the conflict of interest, Flipkart ex-CEO and Co-founder Sachin Bansal has announced that, “It has resigned as an independent director of Ujjivan...

Christine Lagarde: ECB policy is not on autopilot

It is ridiculous to believe the European Central Bank's policy is on auto-pilot and that it won't change until a year-long review of the...

Manappuram Finance snaps $300 million in bonds

Manappuram Finance on Monday has announced the approval of the issuance of fixed-rate senior unsecured notes aggregating to $300 million. In a filing at BSE,...

NSE reaches to SEBI, plans to launch its IPO by September

The National Stock Exchange (NSE) has said that “It has approached the markets' regulator SEBI, for the approval to its IPO.” While speaking with the...

SoftBank's $3 billion WeWork rescue plan, in talk with Japan's three largest banks

SoftBank Group Corp's talks to secure $3 billion from Japan's three biggest banks have stalled as the lenders have hit internal lending limits to...

Finance Ministry of India denies sharing details of Swiss Bank account holders

The Finance Ministry has declined to share Swiss bank accounts details of Indians saying it is covered under "confidentiality provisions" of a tax treaty...

RBI is purchasing dollars through state-run banks

Reserve Bank of India, also known as (RBI) is buying dollars in the market through state-run banks. Four traders, familiar with the update, said, "It...

Finance Minister Nirmala Sitharaman introduces "Insolvency and Bankruptcy code" bill in Lok Sabha

Finance Minister Nirmala Sitharaman on Thursday introduced a bill in the Lok Sabha to amend the Insolvency and Bankruptcy Code. The Insolvency and Bankruptcy...

"India's economy to be at 4.3% in Q4 2019", says Nomura

India's economy is expected to grow at 4.3 percent in December quarter this year amid concerns over crisis in the NBFC sector, according to...

No proposal under consideration for education loan waiver: FM Nirmala Sitharaman

The government on Monday said there is no proposal under consideration for waiver of education loans. In the last three years from 2016-17 to March...

Zeta appoints Visa’s executive Murali Nair as President of its banking business

Bengaluru settled fintech startup Zeta has announced the appointment of Visa’s Murali Nair as the president of its banking business. Murali Nair, who holds 26...

India making sixth interest rate cut, still no cure for economy

Five interest rate cuts since the start of the year hasn't stopped India's economy from slowing to its weakest growth rate since 2013, but...

RBI's subsidiary DICGC says, "Depositors in failed and liquidated bank to get only Rs 1 lakh as insurance cover"

Depositors in failed and liquidated banks will get only up to Rs 1 lakh as insurance cover, regardless of the amount in their accounts,...

Bank of Japan keeps monetary policy steady, brings new forward guidance on rates

The Bank of Japan kept its monetary policy steady on Thursday but introduced new forward guidance to more clearly signal the future chance of...

Apple Pay faces heat in Europe, EU antitrust regulatory seeks for details

US tech giant, Apple Inc, faces another heat in Europe as the EU antitrust regulators have asked the online sales companies whether they have...

FM Nirmala Sitharaman: Indian public sector banks had worst phase under Manmohan Singh and Raghuram Rajan

Finance Minister Nirmala Sitharaman has said that the Indian public sector banks had the "worst phase" under the combination of former Prime Minister Manmohan...

World Bank slashes India’s growth forecast to 6 percent, Warns “Severe” Slowdown

The World Bank on Sunday slashed its growth forecast for India's current fiscal year to 6 percent, down from 7.5 percent, warning that the...

DHFL proposes draft resolution plan to convert debt to equity

India's crisis-hit shadow bank Dewan Housing Finance (DHFL) has submitted a draft resolution plan proposing to convert debt to equity while seeking to sell...

Mindtree introduces Blockchain-powered ‘Merchant On-Boarding’ solutions for Banks and Payment service providers

A Banglore-based technology service provider, Mindtree on Wednesday launched its new Blockchain-powered “Merchant On-Boarding” solutions for banks and payment service providers. In a statement issued...

Tata Power arm announces its exit from South African Joint Venture Cennergi for $106 mn

As a part, its strategy to cut its financial liabilities and focus on the domestic market, Tata Power on September 17 announced exit from...

Aisa Development Bank’s president Takehiko Nakao to step down

The president of the Asia Development Bank, Takehiko Nakao, plans to step down early next year, the regional lender said on September 17. Japan has...

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