City Union Bank Q1 net up 14% at Rs 140 cr

City Union Bank (CUB) has reported a net profit of Rs 140.32 crore during the quarter ended June 30, 2017, as compared to Rs 123.52 crore, a year ago, an increase of 14%. The bank is planning to seek shareholders approval for a Rs 500-crore Qualified Institutional Placement (QIP). N Kamakodi, managing director and chief… Continue reading City Union Bank Q1 net up 14% at Rs 140 cr

Dual-camera Lenovo K8 Note launched in India, priced at Rs 12,999

Chinese smartphone maker Lenovo on Wednesday launched the much-awaited ‘K8 Note’ in India at Rs 12,999 (3GB RAM and 32GB storage version) that comes with a dual-camera setup (13MP+5MP sensor with flash). The 4GB RAM and 64GB ROM variant will cost Rs 13,999. The device with first stock Android (7.1.1) has 13MP selfie camera that… Continue reading Dual-camera Lenovo K8 Note launched in India, priced at Rs 12,999

Lenders take stock of progress in NCLT cases

Lenders will work out procedures to follow timelines and coordination in cases taken for resolution at the National Company Law Tribunal (NCLT). Senior public sector bank executives called Monday‚Äôs meeting a routine exercise where top bankers reviewed the progress made in work (for cases filed at NCLT). Banks will put in place necessary mechanism to… Continue reading Lenders take stock of progress in NCLT cases

Debtors can’t be allowed to paralyse banking system, says Arun Jaitley

Finance Minister Arun Jaitley on Thursday said public sector banks needed the Banking Regulations Ordinance in order to be able to take decisions without fear of being subjected to investigation later. Replying to a debate on amendments to the Banking Regulations Act, Jaitley, who also holds the defence and corporate affairs portfolios, said the decision… Continue reading Debtors can’t be allowed to paralyse banking system, says Arun Jaitley

PNB Q1 net up 12% at Rs 343 cr; NPAs rise on farm loan waiver

Punjab National Bank has registered 12 per cent rise in net profit at Rs 343 crore during the first quarter of 2017-18, but farm debt waiver in some states has hit its bad debts.   The bank has got board approval to raise Rs 3,000 crore from equity and bonds each this financial year. Of… Continue reading PNB Q1 net up 12% at Rs 343 cr; NPAs rise on farm loan waiver

PNB Q1 net up 12% at Rs 343 cr; NPAs rise on farm loan waiver

Punjab National Bank has registered 12 per cent rise in net profit at Rs 343 crore during the first quarter of 2017-18, but farm debt waiver in some states has hit its bad debts. The bank has got board approval to raise Rs 3,000 crore from equity and bonds each this financial year. Of this,… Continue reading PNB Q1 net up 12% at Rs 343 cr; NPAs rise on farm loan waiver

Haircut needed to resolve NPAs, says Rangarajan

Former Reserve Bank of India governor C Rangarajan says ‘some haircut’ is inevitable in the process of resolving the big load of bad loans at government-owned banks. A haircut is the term for the writeoff a lender accepts on a debt payment when a borrower can’t repay what is due at a point in time.… Continue reading Haircut needed to resolve NPAs, says Rangarajan