Wednesday, August 10, 2022
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NARCL interested in taking over loan accounts of debt-ridden Srei: Official

The National Asset Reconstruction Co Ltd (NARCL) has evinced interest in the loan accounts of Srei group companies, which are undergoing corporate insolvency resolution process, a top official of a state-owned bank said. The development comes at the time when the resolution is at an advanced stage, and financial

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Srei lenders to consider selling assets to ARCs to hasten recovery

Lenders to the defaulted Srei Group companies -- and Srei Equipment Finance -- are considering selling the sticky loan assets to the asset reconstruction companies to fasttrack recovery as they do not expect any quick resolution of the debt through the bankruptcy court. A joint lenders' meeting will

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Indian banks may join hands with Russia lenders not hit by sanctions

Indian banks including , and are likely to join hands with Russian banks that are not under Western sanctions to facilitate bilateral payments, said people familiar with the matter. These Indian banks will likely open accounts at their Russian counterparts and vice versa, as decided last week in

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PSBs now look to move out of Hong Kong on bleak prospects

Public sector banks are slowly moving out of Hong Kong as tougher regulations, losses on trade financing business and Covid-related restrictions have diminished the importance of the island city, which was once a premier global financing hub. Out of the eight public sector banks operating in Hong Kong, four have

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Collective profit of 12 state-owned banks rises 110% in FY22. Here’s what’s behind the rise

The state-owned banks witnessed a sharp rise in their net profits during the financial year 2021-22. The overall profit accounted for Rs 66,539 crore, an increase of 110% over the last year's Rs 31,816 crore. Even after a phenomenal growth, the PSBs continue to lag behind the private banks. The

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Public sector banks to pay record Rs7,867 crore dividends to government this year

Mumbai: State-owned banks will give the government a record Rs7,867 crore in dividends this year, an indication of better profitability and capital position, largely driven by the falling stock of non-performing assets (NPAs). Nine out of 12 public sector banks (PSBs) have paid dividends for the fiscal year ended March

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UCO Bank appoints Sujoy Dutta as new CFO; J&K Bank gets new govt nominee director

UCO Bank on Wednesday said it has designated Sujoy Dutta as the new chief financial officer with immediate effect. "Sujoy Dutta, deputy general manager of our bank, has been designated as new Chief Financial Officer (CFO) of the bank with immediate effect in place of Shashi Kant Kumar, general

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Frauds in PSBs dip 51 pc to Rs 40,295 cr in FY22; number of cases not falling fast enough: RBI

Public sector banks reported over 51 per cent dip in the amount involved in frauds to Rs 40,295.25 crore during the financial year ended March 2022, the Reserve has said. The 12 PSBs (Public Sector Banks) had reported frauds worth Rs 81,921.54 crore in preceding fiscal 2020-21, the

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