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IBC an opportunity for asset reconstruction cos: Arun Jaitley

Insolvency and Bankruptcy Code (IBC) and the government’s emphasis on resolution provide opportunity for asset reconstruction companies as stressed assets still have inherent value, Finance Minister Arun Jaitley said. During discussions with Asset Reconstruction Companies (ARCs) and Private Equity firms (PE) today, he said these non-performing assets (NPAs) were essentially ... Read More »

How to Check IBPS Clerk Result 2017?

IBPS (Institute of Banking Personnel Selection) is a 2-stage exam which comprises Prelims and Mains exam. CWE or Common Written Examination is conducted for the post of Clerical Cadre in participating banks. IBPS Clerk Result is declared separately for each stage. The result is declared online in the form of ... Read More »

Yes Bank inks MoU with Santander UK

Yes Bank has inked a memorandum of understanding (MoU) with Santander UK plc to help boost UK- India trade and local business networking opportunities. Through the new partnership, Santander will be able to offer its clients access to banking facilities and local support in India through Yes Bank’s network, while ... Read More »

HDFC Bank expands foreign exchange offering in J&K

HDFC Bank, one of the most prominent private sector lenders, has expanded its foreign exchange offering in Jammu & Kashmir. The expanded range of offering, include foreign exchange in 20 currencies and Hajj Umrah ForexPlus card, aimed at meeting requirements of customers as well as businesses. Promoted in 1995 by ... Read More »

Indians’ money in Swiss banks hit record low at Rs 4,500 crore

ZURICH/NEW DELHI: Money parked by Indians in Switzerland’s banks nearly halved to 676 Swiss francs (about Rs 4,500 crore) in 2016 to hit a record low amid a continuing clampdown on the suspected black money stashed behind their famed secrecy walls. In comparison, the total funds held by all foreign ... Read More »

RCom starts monetising real estate assets to pare debt

In its efforts to pare debt, Reliance Communications (RCom) has started the process to monetise its real estate assets in Delhi and Mumbai. The company is saddled with Rs 45,000-crore debt. It has got a seven-month reprieve from banks to service the debt. The company is eyeing to sell or ... Read More »

Now, Aadhaar must for opening bank accounts; Centre sets deadline for existing customers

NEW DELHI: The government on Friday announced its decision making the Aadhaar card mandatory for opening bank accounts and conducting financial transactions of Rs 50,000 and above. Moreover, existing bank account holders have been asked to submit their Aadhaar cards issued by the Unique Identification Authority of India (UIDAI) to ... Read More »

Names of 12 bank loan defaulters identified by RBI will be revealed soon: Finance ministry

NEW DELHI: The finance ministry on Wednesday said the names of the 12 big defaulters identified by the RBI for initiation of bankruptcy proceedings will soon be made public. The RBI had on Tuesday said it has identified 12 large loan defaulters who account for 25 per cent of the total NPAs in the ... Read More »

Just 12 accounts responsible for 25% of Rs 8 lakh crore bad debt with banks

MUMBAI: The RBI today identified 12 accounts each having more than Rs 5,000 crore of outstanding loans and accounting for 25 per cent of total NPAs of banks for immediate referral for resolution under the bankruptcy law. Without naming the defaulters, the Reserve Bank said the lenders will be asked to initiate ... Read More »