Home Business Bad News for Bank Customers: This Bank Increases Loan EMIs; Here’s Why Bank of Baroda recently announced a hike in lending rates by 5 basis points (bps). The increase applies to 3-month, 6-month, and 1-year tenures, effective from this date. Updated: August 10, 2024 4:38 PM IST By Joy Pillai Bad News for … Read more
The Rs 6.76 lakh crore blockbuster rally in PSU bank stocks, which gave 7 multibaggers in last one year, is now staring at a turning point as the Sebi deadline to meet 25% minimum public shareholding (MPS) rule ends this August. Besides improvement in fundamentals such as sharp earnings growth and the turnaround in asset … Read more
MUMBAI – Private banks, which have always been the favourites of institutional investors, lost the spot to public sector banks who are touching the sky riding on retail bulls. So far in 2024, all public sector banks have given double-digit returns to investors. On the contrary, private sector banks have seen single to double-digit fall … Read more
NEW DELHI: The Central Bureau of Investigation (CBI) on Wednesday raided 67 locations in seven cities of Rajasthan and Maharashtra as part of its probe in connection with the Rs 820 crore IMPS scam linked to UCO Bank.The central agency has been probing 8,53,049 IMPS (Immediate Payment System) transactions that took place between November 10 … Read more
While bulls aren’t yet ready to give up on the potential of PSU bank stocks given the sharp earnings turnaround, the case for the underdogs is getting louder as the valuations of PSU banks are at historical highs while private banks are languishing near decade-long lows. Private banks are trading at a price-to-book (P/B) valuation … Read more
Mumbai: Mid- and small-cap stocks tumbled on Monday as heightened concerns that the recent run-up in several of them – especially public sector companies – has been excessive, and prompted investors to aggressively cut their bets. If the decline in share prices continues, it could result in margin calls by brokers – a situation where … Read more
NEW DELHI: Bank of Maharashtra (BoM) has recorded the highest growth rate in terms of deposit mobilisation among public sector lenders at a time when most lenders are facing difficulty in achieving double-digit growth. Out of 12 public sector banks, only BoM and State Bank of India (SBI) could log a double-digit growth in deposits … Read more
With an aim to check digital fraud, the government has suspended 70 lakh mobile numbers on account of suspicious transactions. Financial services secretary Vivek Joshi said that banks have also been asked to strengthen the system and processes to check increasing digital payment fraud.He added that more meetings on issues related to financial cyber securitywill … Read more
The Finance ministry has taken a serious notice of the recent major issue at UCO Bank and the rising cases of bank frauds in the country. The ministry and the parliamentary panel on ICT have decided to look into and tackle the matter. Financial services secretary Vivek Joshi will hold key consultations on the matter … Read more
NEW DELHI: Days after the problems at UCO Bank and multiple instances of frauds on a daily basis, the finance ministry and the parliamentary panel on ICT have decided to look into the issue.Next week, financial services secretary Vivek Joshi will hold consultations with the Reserve Bank of India (RBI), Trai, telecom department and the … Read more