RBI Appoints New PMC Bank Administrator, Says Huge Losses Posing Challenges to Revival

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The RBI said factors like huge losses and erosion of deposits at PMC Bank continue to cause hindrance in its revival. The Reserve Bank of India appointed AK Dixit, ex-general manager of Union Bank of India, as the new administrator of the bank with effect from September 23, 2020. PTI Mumbai Last Updated: … Read more RBI Appoints New PMC Bank Administrator, Says Huge Losses Posing Challenges to Revival

RBI and Govt in Right Direction to Keep Economy Moving, Says Axis Bank CEO

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New Delhi: The Reserve Bank and the government are in the right direction to keep the economy moving and signs of revival in the banking industry are visible with people starting to repay their liabilities, Axis Bank MD and CEO Amitabh Chaudhry said on Tuesday. “We have gone through two phases of concession being … Read more RBI and Govt in Right Direction to Keep Economy Moving, Says Axis Bank CEO

Businessman Mistry's Daughter Loses Rs 90,000 in Bank Fraud; Case Registered

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An unidentified person fraudulently withdrew Rs 90,000 from the bank account of 62-year-old daughter of billionaire businessman Pallonji Shapoorji Mistry, a police official said on Tuesday. An offence has been registered in connection with the cyber fraud at the Colaba Police Station in South Mumbai, he said. The incident came to light in July … Read more Businessman Mistry's Daughter Loses Rs 90,000 in Bank Fraud; Case Registered

Exclusive: Deutsche Bank To Close 20% Of German Branches In Coronavirus Shift

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FRANKFURT: Deutsche Bank plans to shutter one in five branches in Germany as it seeks to save costs and capitalise on the changing habits of customers during the coronavirus pandemic, an executive said. Philipp Gossow, who oversees the retail banking business in Germany, told Reuters that the reduction to some 400 branches from around … Read more Exclusive: Deutsche Bank To Close 20% Of German Branches In Coronavirus Shift

Deutsche Bank Preparing For Wave Of Industry Deals

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FRANKFURT: Deutsche Bank is working hard to prepare for a wave of mergers in the banking sector, its finance chief said on Tuesday, signalling a potential change in tone at Germany’s biggest bank which has been focusing mainly on its turnaround. Policymakers have long said Europe’s ailing banking sector needs to consolidate, but regulatory … Read more Deutsche Bank Preparing For Wave Of Industry Deals

Swiss National Bank To Stay Loyal To Ultra-loose Policy: Reuters Poll

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ZURICH: The Swiss National Bank will hold firm to its expansive stance and negative 0.75% interest rate when it meets to review monetary policy on Thursday, a Reuters poll showed. All 31 economists polled by Reuters expected Chairman Thomas Jordan to stick with the ultra-loose monetary policy the central bank has followed for the … Read more Swiss National Bank To Stay Loyal To Ultra-loose Policy: Reuters Poll

Deutsche Bank Working Hard To Prepare For M&A Wave, CFO Says

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FRANKFURT: Deutsche Bank’s finance chief said on Tuesday that the German lender was working hard to prepare for an expected wave of mergers and acquisitions in the banking sector. Chief Financial Officer James von Moltke was speaking at a financial conference as speculation heats up about potential cross-boarder mergers. … Read more Deutsche Bank Working Hard To Prepare For M&A Wave, CFO Says

Dairy Maker Kwality Charged By CBI With Rs 1,400 Crore Bank Loan Fraud

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The CBI had started its investigations on a complaint by Bank of India New Delhi: Kwality Limited, one of the country’s most popular dairy product makers, has been charged with cheating a group of banks of Rs 1,400 crore in a case of fraud filed by the CBI. The investigating agency filed the case after … Read more Dairy Maker Kwality Charged By CBI With Rs 1,400 Crore Bank Loan Fraud

HDFC Bank Denies Charges by US Law Firm, to Defend Vigorously in Lawsuit

File photo of the headquarters of HDFC bank in Mumbai. (Image Source: Reuters)

File photo of the headquarters of HDFC bank in Mumbai. (Image Source: Reuters) Largest private sector lender HDFC Bank vowed to defend itself vigorously in the lawsuit and added that the response to the lawsuit will be ready by early next year. PTI Mumbai Last Updated: September 21, 2020, 9:24 PM IST … Read more HDFC Bank Denies Charges by US Law Firm, to Defend Vigorously in Lawsuit

CBI Searches 8 Locations of Dairy Products Firm Kwality Ltd Over Rs 1,400-cr Bank Fraud

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File photo of CBI headquarters in New Delhi. (PTI) The CBI has registered the case against Kwality Ltd and its directors Sanjay Dhingra, Siddhant Gupta, Arun Srivastava besides other unidentified persons, they said. PTI Last Updated: September 21, 2020, 9:20 PM IST FOLLOW US ON: The CBI Monday … Read more CBI Searches 8 Locations of Dairy Products Firm Kwality Ltd Over Rs 1,400-cr Bank Fraud