RBI allays concerns on note quality

The Reserve Bank of India (RBI) on Friday said that it maintained the quality of bank notes “well within the various tolerance parameters for dimension, placement of design, print features, etc,” and that its currency printing presses were state-of-the-art and well-documented. The RBI’s clarification came after the opposition Congress alleged that the RBI was printing… Continue reading RBI allays concerns on note quality

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

Arvind Panagariya holds meeting to take stock of bitcoin risk

Outgoing NITI Aayog Vice Chairman Arvind Panagariya on Monday held an inter-ministerial meeting to examine risks related to virtual currencies like bitcoins. The meeting was attended by Home Secretary Rajiv Mehrishi and representatives from the Finance Ministry. The government has been debating over the issues concerning bitcoins and in May had sought public opinion on… Continue reading Arvind Panagariya holds meeting to take stock of bitcoin risk

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’s 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

Lenders meet today to review insolvency cases

Bank representatives are to meet here on Monday for a review of the work done on the resolution process under the Insolvency and Bankruptcy Code (IBC). It would be the first such exercise since the Reserve Bank of India (RBI), on June 13, directed action on 12 big-size bad loan cases. The aim is to… Continue reading Lenders meet today to review insolvency cases

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