Bank of India shuts Yangoon office in January

Mar 21 2018

State-owned Bank of India said it has closed down its operations of representative office in Yangoon (Myanmar) from mid-January.

41 out of 159 foreign branches of state-owned banks in red

Mar 16 2018

Nearly 25 percent of the overseas branches of the public sector banks (PSBs) suffered losses in 2016-17, the government informed Parliament today.

Nirav Modi Fraud: Banks expect PNB to honour LoUs

Mar 15 2018

Public sector banks want PNB to honour its commitment with regard to LoUs allegedly issued by it to Nirav Modi and its associates, said SBI Deputy MD M S Sastry.

Except for PNB, no unauthorised LoUs issued by PSBs: SBI official

Mar 15 2018

All PSBs have verified LoUs issued by them, and there are no other unauthorised authority letters except for those issued by PNB, a senior SBI official said.

Enforcement mechanism no major deterrent for fraudsters: Patel

Mar 14 2018

Urjit Patel sought more powers to deal with frauds at PSBs saying that the current enforcement mechanism is "not perceived" to be a major deterrent for fraudsters.

Ready to be 'Neelakantha', drink poison to clean system: Patel

Mar 14 2018

Urjit Patel said that like the 'Neelakantha', the central bank will consume poison and face brickbats, but will persist with endeavour to become better with each trial.

'Govt has not plans to abolish Banks Board Bureau'

Mar 13 2018

The government said it is not considering abolishing the Banks Board Bureau (BBB) and it has made a number of recommendations on human resource in public sector banks.

Govt asks banks to 'name and shame' wilful defaulters

Mar 13 2018

Tightening the noose around wilful defaulters, the govt has asked banks to 'name and shame' such borrowers by publishing their photos and other details in newspapers.

RBI initiates special audit of PSBs with focus on trade finance

Mar 11 2018

RBI has initiated special audit of state-owned lenders with focus on trade financing activities, especially relating to issuance of LoUs by them, banking sources said.

PSBs recap should be part of broader package of financial reform

Mar 11 2018

The IMF has said that the recapitalisation of PSBs should be part of a broader package of financial reforms to speed up the resolution of non-performing assets (NPAs).

Indian Markets


    33,006.27 129.91   (-0.39 %)

    10,114.75 40.50   (-0.40 %)

Global Markets


Stocks In News



Acquires Cynosure Inc and Cynosure Interface Solutions for $31mn and Rs13cr respectively

To add platform capabilities in the insurance segment which contributes 15% of total business

The Acquisition is expected to close within the next 3 months


Sells Essar Steel loan to Deutsche Bank

Has sold its $385 mn Foreign currency loan extended to Essar Steel

Bank has taken a 38% haircut

Rs 1600 cr is expected earnings to the bank from the deal

Economic Times Reports


To Sell 50% stake in prime Mumbai office assets to Blackstone for $1.3bn

The co is also in discussions to sell its residential and commercial projects in Chennai

To convene shareholder’s meet on 23rd March in regard to the proposed divestment

Mint Reports


Gets Order Worth Rs 230 Cr From NTPC

To perform the pressure part metallurgy upgradation for 3 660MW super critical steam generators

Will help NTPC commission the 3x 660MW plant started 12years


Declared L1 bidder for EPC Project in UP worth Rs 677cr from NHAI

The completion period for the project is 30 months

twitter @BTVI