WhatsApp leak: Sebi to take action against mkt operators of blue-chip firms

Sebi will soon take action against some market operators and senior staff members of about a dozen listed blue-chip firms for their alleged involvement in leak of price-sensitive information through WhatsApp. The companies may also face censure action by the market watchdog for alleged lapses in safeguard mechanism to check leak of unpublished price sensitive… Continue reading WhatsApp leak: Sebi to take action against mkt operators of blue-chip firms

RBI caps banks exposure to Reits, InvIts at 10% of unit capital

The Reserve Bank on Monday amended the statutes making it possible for lenders to invest in Reits and InvIts capping such exposures to 10 per cent of the unit capital of such instruments, and also to regulate their commodity derivatives play. In amendments to the Master Direction- Reserve Bank of India (Financial Services provided by… Continue reading RBI caps banks exposure to Reits, InvIts at 10% of unit capital

Govt changes banking regulations to authorise RBI for recovery of bad loans

The government has notified the Banking Regulation (Amendment) Act under which it can authorise the RBI to issue directions to banks to initiate insolvency resolution process to recover bad loans. The banking sector is saddled with non-performing assets (NPAs) of over Rs 8 lakh crore, of which Rs 6 lakh crore is with public sector… Continue reading Govt changes banking regulations to authorise RBI for recovery of bad loans

Thousands transferred at SBI, many branches closed, yet no protest

India’s largest lender, State Bank of India (SBI), has rationalised 716 offices (594 branches and 122 administrative offices) and several thousands of employees have been transferred beginning this fiscal, but, strangely, there have been no major protests, top officials said. Several hundreds of offices would be closed and thousands of staff would be moved in… Continue reading Thousands transferred at SBI, many branches closed, yet no protest

Govt to initiate PSBs’ consolidation process after Q1 results

The finance ministry is expected to initiate the process of consolidation of public sector banks (PSBs) once the first quarter results of the current fiscal have been announced, a senior official has said. There are various things including financial performance which have to be looked at before a merger decision is taken, said the official… Continue reading Govt to initiate PSBs’ consolidation process after Q1 results

Bad loans: RBI to take up more cases, says Jaitley

The process of resolution of bad loans will start shortly, Finance Minister Arun Jaitley said on Thursday in the Lok Sabha as it passed a bill which gives RBI the power to direct banking companies to resolve the problem of stressed assets. Replying to a debate on the Banking Regulation (Amendment) Bill, 2017, Jaitley said… Continue reading Bad loans: RBI to take up more cases, says Jaitley

HSBC profit rise by 5%, announces $2 billion share buybackhs

HSBC Holdings PLC on Monday said profit grew 5 percent in the six months through June and announced its third share buyback in a year, indicating continued progress in the six-year turnaround plan of Europe’s biggest bank. HSBC, like many global banks, spent the years up to the 2008 financial crisis expanding its empire with… Continue reading HSBC profit rise by 5%, announces $2 billion share buybackhs