Category: Banking

EditorFebruary 17, 2022
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8min00
Besides LIC, other notables defrauded are: Bank of Baroda (Rs 1,614-crore), EXIM Bank (Rs 1,327 crore), Punjab National Bank (Rs 1,244 crore), Indian Overseas Bank (Rs 1,228 crore) Mumbai: The sensational Rs 22,842 crore mega loan fraud allegedly perpetrated by the Gujarat-based ABG Shipyard Ltd (ABGSL) did not spare the IPO-bound Life Insurance Corporation of India […]

EditorJanuary 9, 2022
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6min00
By Danish Reyaz Although the commercial banking system has propagated to far-flung areas, a large chunk of people, especially the poor, still remain out of their bounds. Reasons are many, including banks own reluctance towards disbursing small loans to these people. As a result, poor and low-income families often go to the local money lenders, […]

EditorDecember 19, 2021
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7min00
Chennai: The ongoing two-day nationwide bank strike against the privatisation of government banks has affected clearing of cheques worth about Rs 37,000 crore, said C.H. Venkatachalam, General Secretary of the All India Bank Employees’ Association (AIBEA). “There are three cheque clearing centres in India — Chennai, Delhi and Mumbai. In two days – Thursday and Friday […]

EditorDecember 16, 2021
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6min00
About 10 lakh bankers in public and private sector banks are participating in the strike that began today Chennai: A two-day nationwide bank strike called by United Forum of Bank Unions (UFBU) against privatisation of government banks began on Thursday, said C.H.Venkatachalam, General Secretary, All India Bank Employees’ Association (AIBEA). The UFBU is an umbrella body […]

adminMay 25, 2021
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3min00
By Anjana Das, New Delhi : IDBI Bank has sounded out its new owner LIC seeking another tranche of up to Rs 12,000 crore to meet its huge provisioning requirements amid mounting losses. The fresh support is required to cover for non-performing assets (NPAs) in the January-March quarter. Life Insurance Corporation of India (LIC) completed […]

adminMay 25, 2021
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5min00
Mumbai : The Reserve Bank of India is widely expected to keep its key lending rate for commercial banks unchanged at 6.5 per cent for the third time in succession when it makes the fiscal’s final bimonthly monetary policy review announcement on Thursday, but could change its stance from ‘calibrated tightening’ to ‘neutral’. The RBI’s […]


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