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

NPA resolution: PMO takes stock of progress

The Prime Minister’s Office today held a stock taking meeting with senior officials of the ministries of finance and corporate affairs to review the progress in resolution of NPAs in the light of recent action taken by the Reserve Bank on stressed assets. Prime Minister’s additional secretary P K Mishra had a review meeting on… Continue reading NPA resolution: PMO takes stock of progress

Bandhan Bank to open 160 branches more

Bandhan Bank is targetting to open another 160 branches to reach the 1000-mark by the end of this financial year, Managing Director and Chief Executive Officer of Bandhan bank Chandra Shekhar Ghosh said on Sunday. “We are planning to open more branches at different locations and reach the 1000-mark by the end of this financial… Continue reading Bandhan Bank to open 160 branches more