Banking

RBI inflicts banks to cut interest rates.

RBI to force banks to cut interest rates

The Central Bank stated that they will soon get banks to cut the interest rates, the lending rates to the borrower. The reason for this action was blamed on the...
Three more Banks out of RBI's PCA framework

Three more Banks out of RBI's PCA framework

On 26th February 2019, board for Financial Supervision (BFS) held a meeting to analyze the performance of Allahabad Bank, Dhanalaxmi Bank, and Corporation Bank. The BFS observed that Government of...
UCO bank to gain by US sanctions

UCO bank to gain by US sanctions

UCO Bank is set to benefit from the sanctions imposed on Iran’s oil exports by the US Government. The bank could benefit from the extra cash that would be generated...
Government to infuse Rs 48,239 crores in 12 state-run banks

Government to infuse Rs 48,239 crores in 12 state-run banks

On 20th February, 2019 the ministry of finance decided to infuse ₹48,239 crores in 12 public sector banks. This is done so that these Prompt Corrective Action (PCA) banks can...
Bandhan Bank set to merge with Gruh Finance Ltd.

Bandhan Bank set to merge with Gruh Finance Ltd.

Bandhan Bank Ltd. is set to merge with Gruh Finance Ltd. Bandhan bank was incorporated in the year 2001 as a micro finance company. They received the banking license in...