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The finance ministry is likely to infuse Rs 14,500 crore mainly in the banks that are under the RBI s prompt corrective action framework in the next few days to improve their financial health. Indian Overseas Bank, Central Bank of India and UCO Bank are currently under this framework that puts several restrictions on them, including on lending, management compensation and directors fees. The ministry has almost finalised its names of probable candidates for capital infusion, sources said. The infusion will be made in the next few days, the sources said, adding the biggest beneficiary of this round of capital infusion would be the banks that are under the prompt corrective action (PCA). ....
With effect from 10 March 2021Bank of India announced the appointment of Monika Kalia (Chief General Manager, Union Bank of India), Swarup Dasgupta (General Manager, Bank of India) and M Karthikeyan (General Manager, Indian Bank) as Executive Directors of Bank of India with effect from 10 March 2021. Powered by Capital Market - Live News (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritativ ....
Indian Bank rose 1.15% to Rs 140.75 after the bank said its board accorded in-principal approval for partial or full disinvestment of bank s stake in joint venture, ASREC (India).The bank holds a 38.26% stake in ASREC (India) and the decision to divest stake is part of monetisation of the bank s non- core assets. Apart from Indian Bank, LIC of India, Bank of India, Union Bank of India and Deutsche Bank are the other shareholders in the company. ASREC (India) acquires non performing assets (NPAs) from the banks/financial institutions at mutually agreed prices with the objective is to maximise the returns through innovative resolutions strategies. ASREC positions itself as the multi lender ARC in the public sector aiming to earn the confidence of the financial system in the effective resolution of NPAs by operating in transparent manner with flexibility of the private sector. ....
Read more about Sensex down 175 pts, Nifty holds 15,000 on Business Standard. Key benchmark indices continued trading with modest losses in afternoon trade. Rising US Treasury yields spooked equity investors globally. The Nifty held above its crucial 15,000 mark. Banks and metal shares corrected. All the sectoral indices on ....
Read more about State Bank of India up around 1% on Business Standard. State Bank of India is quoting at Rs 410.35, up 1.01% on the day as on 12:49 IST on the NSE. The stock is up 25.03% in last one year as compared to a 29.53% jump in NIFTY and a 21.88% jump in the Nifty Bank index. ....