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RBI extends risk-based internal audit system to HFCs

An effective RBIA is an audit methodology that links an organisation s overall risk management framework and provides an assurance to the Board of Directors and the senior management on the quality and effectiveness of the organisation s internal controls, risk management and governance-related systems and processes.

Bank of India allots 42,11,70,854 shares to Government of India

Bank of India allots 42,11,70,854 shares to Government of India
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Bank of India allots shares to govt for Rs 3,000 crore capital infusion

Read more about Bank of India allots shares to govt for Rs 3,000 crore capital infusion on Business Standard. State-owned Bank of India on Friday said it has allotted preference shares to the government for Rs 3,000 crore capital infusion.The bank has allotted 42,11,70,854 fresh equity shares of Rs 10 each to the government (promoter) at Rs 71.23 per

reserve bank of india: RBI may use money managers to boost forex reserves yield

The Reserve Bank of India (RBI) is weighing the option of engaging specialist money managers to help improve yields on the reserves fund as rates hit record lows globally. Given the increasing complexities of managing inflows from multiple channels, the RBI also wants better safeguards for the burgeoning corpus that now amounts to about a fifth of India’s gross domestic product (GDP).

IOB: Govt plans to dress up PSBs before sale; Bank of Maharashtra, BOI, IOB in queue

Synopsis Bank of Maharashtra, Bank of India, and IOB are the frontrunners for being privatised. Central Bank of India may be taken up based on its financial recovery. Punjab & Sind Bank and UCO Bank, the other two lenders that were not merged as a part of the public sector bank consolidation, are not being considered for privatisation yet, officials said. Agencies Banks will be nudged to exit their non-core businesses to improve their financials before privatisation The government plans to dress up state run lenders’ balance sheets through capital support and sale of non-core assets among other measures before putting them on the block. The transformation plan also includes transfer of impaired loans to the proposed bad bank and reducing employee count by offering attractive voluntary retirement schemes, officials aware of the developments said.

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